Bulgaria’s exports in Q1 2023 up 8.3% y/y, imports 4.2% higher

In January – March 2023, the total value of all goods exported from Bulgaria added up to 22.84 billion leva, 8.3 per cent more than in the first quarter of 2022, the National Statistical Institute (NSI) said on May 12.

In March, total exports of goods added up to 8.1 billion leva, a decline of 0.5 per cent compared with March 2022.

The total value of all the goods imported into Bulgaria in January – March 2023 amounted to 25.36 billion leva (at CIF prices), 4.2 per cent more than in the same period of 2022.

In March 2023, the total imports of goods fell by 0.9 per cent compared with March 2022, adding up to 8.9 billion leva.

Bulgaria’s total foreign trade balance (exports FOB – imports CIF) was negative in the first quarter of 2023, amounting to 2.52 billion leva.

In March 2023, the total foreign trade balance (exports FOB – import CIF) was also negative, adding up to a deficit of 823.2 million leva, the NSI said.

NSI’s data for March indicated that the overall decline in exports was due to a 7.5 per cent drop in exports towards the EU, whereas exports to third-countries were 14.3 per cent higher.

As regards imports, however, the overall decline in March was owed to a 7.6 per cent drop in imports from third-countries, while imports from the EU were 3.8 per cent higher, according to the NSI.

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