Bulgaria's Exports to EU Up 44% H1 Y/Y

In June 2011, the exports to the EU increased by 23.1% compared to the corresponding month of the previous year and exceeded BGN 2 B. File photo

In the period January - June 2011, the Bulgarian exports to the EU increased by 43.6% compared to the corresponding period of the previous year and amounted to BGN 11.6 B.

The data was released by the National Statistics Institute, NSI, Tuesday.

He main trade partners of Bulgaria were Germany, Romania, Italy, Greece and Belgium, wich formed 67.6 % of the total exports to the EU Member states.

The most significant growths were observed in the exports to Malta, Portugal, Denmark and Belgium. The most notable falls were registered in the exports to Slovakia.

In June 2011, the exports to the EU increased by 23.1% compared to the corresponding month of the previous year and exceeded BGN 2 B.

Bulgarian imports from the EU in the period January - June 2011 increased by 20.5% compared to the corresponding period of the previous year and amounted to BGN 12.1 B at CIF prices.

The most significant growths were reported on the imports from Malta and Latvia. The largest decreases were observed in the imports from Finland and Portugal.

In June 2011, the Bulgarian imports from the EU Member States increased by 3.8% compared to the corresponding month of the previous year and exceeded BGN B at CIF prices.

The foreign trade balance of Bulgaria (export FOB - import CIF) with EU in the period January – June 2011 was negative and amounted to BGN 508.1 M. At FOB/FOB prices (after elimination of transport and insurance costs on imports) the trade balance was positive and amounted to BGN 38.1 M.

The exports of Bulgaria to the EU, distributed according to the Standard International Trade Classification, increased in all sections in the first six months of 2011 compared to the corresponding period of the previous year.

The largest growths were recorded in the sections, "Crude materials, inedible (except fuels)," "Chemical and related products" and "Manufactured goods classified chiefly by material."

The imports from the EU also increased in all sections, except in the section "Mineral fuels, lubricant and related materials". The largest growths were reported in sections „Animal and vegetable oils, fats and waxes" and "Crude materials, inedible (except fuels)" while the lowest - in the section "Mineral fuels, lubricant and related materials".

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