Bulgaria's Non-EU Export Expands by 35% in Jan-July 2011 Y/Y

Bulgaria's export to non-EU countries increased by 35.1% in the first seven months of 2011 year-on-year, the National Statistical Institute announced Friday.

Thus, Bulgaria's exports to non-EU states amounted to more than BGN 8.6 B, with five countries – Turkey, Serbia, Russia, Macedonia, and China accounting for 47% of Bulgaria's non-EU exports.

Bulgaria's export to South Africa and Canada has registered substantial increases, while the export to Syria, Singapore, Peru, Indonesia, the UAE, Albania, Vietnam, and Serbia declined.

Bulgaria's exports to non-EU destinations registered increases in oil, mineral, agricultural products and raw materials, while export of processed goods declined.

In January-July 2011, Bulgaria's import from non-EU countries grew by 24.2% year-on-year, reaching BGN 10.5 B. The import from Kazakhstan, the UAE, South Africa, South Korea, and Singapore is on the rise, while the import from Peru, Egypt, and Vietnam declined substantially.

Thus, in its non-EU trade, Bulgaria registered a deficit of BGN 1.906 B in the first seven moths of 2011 (export FOB minus import CIF). After the subtraction of transport and import insurance costs (export FOB minus import FOB), Bulgaria's deficit with non-EU countries is reduced to BGN 1.353 B.

In July 2011 alone, Bulgaria's non-EU trade saw a negative balance of BGN 141.6 M, as Bulgaria's exports to non-EU states reached BGN 1.3 B, an increase of 32.7% year-on-year, while its imports from outside the EU came at BGN 1.5 B, an increase of 6.6% compared with July 2010.

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