Bulgaria’s exports rose 15.7% in 2017, but trade balance negative – statistics institute

Written by on September 12, 2018 in Business - Comments Off on Bulgaria’s exports rose 15.7% in 2017, but trade balance negative – statistics institute

Exports from Bulgaria in 2017 were 15.7% more than in 2016, with a month-on-month increase every month – but the country’s trade balance came out negative, the National Statistical Institute (NSI) said on September 12, citing final data.

In 2017, goods exported from Bulgaria amounted to 54 598.5 million leva, while imports came in at 59 233.4 million leva, the latter an increase of 15.7 per cent over 2016, the NSI said.

Bulgaria’s foreign trade balance in 2017 was negative, adding up to 4 534.9 million leva, an increase of 615 million leva over 2016.

At FOB/FOB prices (after elimination of transport and insurance costs on imports) the negative balance in 2017 added up to 501.6 million leva.

The highest growth in exports from Bulgari in 2017 was in the category “manufactured goods classified chiefly by material”, which rose by 33.3 per cent, while the only category in which there was a decrease was “beverages and tobacco”, which dropped by 11.1 per cent.

Reporting on Bulgaria’s trade in goods with other European Union countries, the NSI said exports to the rest of the EU went up by 10.9 per cent, adding up to 24 546.6 million leva.

Among other EU countries, Bulgaria’s main trading partners were Germany, Italy, Romania, Greece, Belgium and France, which accounted for 67.5 per cent of exports to the EU.

Bulgaria’s imports from the rest of the EU in 2017 increased by 11.2 per cent, adding up to 37 807.8 million leva.

The largest sources of imports to Bulgaria from elsewhere in the EU were Germany, Italy, Romania, Spain and Greece, which represented 56.7 per cent from the imports from the EU.

Bulgaria’s foreign trade balance with the EU was negative, coming in at 3 261.2 million leva, the NSI said.

Bulgaria’s exports to non-EU countries increased by 25.1 per year-on-year in 2017, adding up to 20 051.9 million leva.

Among non-EU countries, Bulgaria’s leading trading partners were Turkey, Russia, China, Egypt, Serbia, the United States and the Republic of Macedonia, which accounted for 55.3 per cent of the total exports to non-EU countries.

Bulgaria’s imports from non-EU countries in 2017 were 24.4 per cent higher than in 2016, and amounted to 21 425.6 million leva. The largest amounts were reported for goods imported from the Russian Federation, Turkey, China, Serbia and Egypt, whose share amounted to 66.5 per cent of the total imports from non-EU countries.

The foreign trade balance of Bulgaria (export FOB – import CIF) with third countries in 2017 was negative and amounted to 1 373.7 million leva, the NSI said.

(Photo: ephe drin/freeimage.com)

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