Bulgaria's Gross Agriculture Product Reaches EUR 4 B in 2010

Business | December 14, 2011, Wednesday // 19:25|  views

Grain production has been the major factor driving the growth of Bulgaria's agricultural sector. Photo by BGNES

Bulgaria's gross agricultural product grew by 2% in 2010, reaching almost EUR 4 B, according to Annual Agricultural Report for 2011, adopted Wednesday by the Bulgarian Cabinet.

The document, which contains an economic analysis of the Bulgarian agriculture, food industry, trade with agricultural products and the development of the fish resources and forestry sectors, points out tangibly positive trends.

Thus, it found that Bulgaria's gross agricultural product at current prices was BGN 7.63 B, or EUR 3.904 B.

Bulgaria's agrarian trade grew by 15.2% in 2010 year-on-year, with the exports growing by 24.1% vs. 4.9% for the imports.

Thus, Bulgaria's positive agricultural trade balance grew 2.5 times in one year, reaching USD 940 M.

During 2010, the Bulgarian agriculture got total subsidies amounting to BGN 1.406 B (EUR 719 M) from both the EU subsidies and the Bulgarian state budget. Of those, BGN 722 M came under the Rural Development Program, and BGN 465 M came from direct subsidies.

The Agriculture Ministry reported adopted by the Borisov Cabinet has found that the financial subsidies are one of the factors that stabilized Bulgarian agriculture.

The added value of Bulgaria's agricultural sector grew by 4.6% in 2010 compared with 2009, according to Agriculture Ministry data.

Preliminary data about the first half of 2011 indicate that the agriculture sector's gross product reached BGN 1.371 B, which a 1% decrease year-on-year.

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Tags: agriculture, Agriculture Ministry, agricultural producers, CAP, Rural Development Program, EU funding, EU funds, common agricultural policy, Miroslav Naydenov, grain producers, grain growers, subsidies, exports, export, imports, import, foreign trade, trade balance


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