Bulgaria's Foreign Trade Deficit Down by 40% in Jan-July 2011

Business | September 9, 2011, Friday // 16:22|  views

Source: NSI

Bulgaria's foreign trade deficit decreased by 40.5% in the first seven months of 2011 year-on-year, according to preliminary data of the National Statistical Institute.

Bulgaria's total exports (to both EU and non-EU countries) in January-July 2011 amounted to BGN 22.4 B, an increase of 36.9% compared with the same period of 2010.

At the same time, in the first seven months of 2011, Bulgaria imported goods and services worth BGN 24.8 B, an increase 21.8%.

Thus, in January-July Bulgaria ended up with a negative foreign trade balance of BGN 2.362 B, a trade deficit decrease of BGN 1.608 B, or 40.5%, year-on-year (counting export FOB minus import CIF); when subtracting the transport and import insurance cost (export FOB minus export FOB), Bulgaria's foreign trade deficit amounted to BGN 1.155 B in the said period.

In July 2011 alone, Bulgaria exported goods and services worth BGN 3.6 B, an increase of 21.1% year-on-year, while its imports amounted to BGN 3.7 B, an increase of 12.7% y/y.

Thus, in July, Bulgaria had a negative monthly trade balance of BGN 89.8 M (export FOB-import CIF), and a positive balance of BGN 99.2 M when calculating the export FOB minus import FOB figures.

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Tags: exports, imports, export, import, foreign trade, trade balance, trade deficit, FOB, CIF, EU, non-EU


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