Bulgaria trade gap in January-October 2014 widens year-on-year

Bulgaria’s trade deficit with both the European Union and non-EU countries widened in the first 10 months of 2014, data from the National Statistics Institute (NSI) showed on January 12.

The trade gap in the January-October period increased to 6.37 billion leva, compared to 5.53 billion leva in the same period of 2013.

Exports, in free-on-board (FOB) prices, were down 1.4 per cent in the first 10 months of 2014. Bulgaria’s exports to the other 27 member states of the EU (including Croatia, which joined the bloc in July 2013) were up 2.4 per cent during that period, but exports to non-EU countries fell by 7.1 per cent.

Bulgaria’s imports, including cost, insurance and freight (CIF prices) were up by 0.8 per cent, buoyed by imports from the EU, which rose by 3.2 per cent, while imports from non-EU countries were down 2.8 per cent.

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(Photo: Anton Lefterov)