Bulgaria's Exports to EU Go Up in Jan-Feb

Exports of Bulgaria to other EU member states have increased by 2% in the first two months of 2016 compared to January and February of last year, statistics show.

Bulgaria exported to the EU BGN 4.5529 B in goods in the period of January-February this year, according to data published by the National Statistical Institute (NSI).

Exports marked a stronger growth of 5.7% year-on-year in February, the NSI says.

Germany remains by far Bulgaria's top trade partner despite a drop in imports which, however, has improved trade balance from a negative BGN 150.2 M to a negative BGN 53.6 for the respective period.

Next were Italy, Greece, France and the UK, which, together with Germany, account for 68.3% of Bulgaria's exports to EU member states.

The biggest surge in Bulgarian exports is seen in the sections labeled "Chemical and related products n.e.c." (39.0%) and "Miscellaneous manufactured articles" (15.6%). The most notable decrease was recorded in section "Mineral fuel, lubricants and related materials" (37.6%).

Imports from EU countries, on the other hand, decreased by 1.5% in January-February 2016 compared to the same period of last year and added up to BGN 4.86 B at CIF prices.

The largest volumes of imported goods came from Germany, Italy, Romania, Greece, and Spain.

It was "Animals and vegetable oils, fats and waxes" (19.9%) where the biggest increase in the volume of imports was noted, the the most substantial decline was in section "Mineral fuel, lubricants and related materials" (33.8%).

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