Bulgaria's 2012 Jan-Jul EU Exports Down 0.6% Y/Y

In July 2012, Bulgaria's exports to the EU increased by 0.1% compared to the corresponding month of the previous year. File photo

In the period January - July 2012, Bulgarian exports to the EU decreased by 0.6%, compared to the corresponding period of the previous year and amounted to BGN 13.8 B.

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

The main trade partners of Bulgaria were Germany, Italy, Romania, Greece, France and Belgium that formed 71.4% of the exports to the EU Member States.

In July 2012, Bulgaria's exports to the EU increased by 0.1% compared to the corresponding month of the previous year and amounted to BGN 2.2 B.

Bulgarian imports from the EU in the period January - July 2012 increased by 12.3% compared to the corresponding period of the previous year and added up to BGN 17.1 B at CIF prices.

The largest amounts were reported for goods imported from Germany, Italy, Romania, Greece and Spain

In July 2012, Bulgarian imports from EU Member States grew by 3.3% compared to the corresponding month of the previous year and added up to BGN 2.6 B at CIF prices.

The foreign trade balance of Bulgaria (export FOB - import CIF) with EU in the period January – July 2012 was negative and added up to BGN 3 336.1 M.

At FOB/FOB prices (after elimination of transport and insurance costs on imports) the trade balance was also negative and amounted to BGN 2 659.1 M.

In the first seven months of 2012, compared to the corresponding period of the previous year the largest growth (40.6%) in the exports of Bulgaria to EU distributed according to the Standard International Trade Classification was recorded in the section "mineral fuels, lubricants and related materials" and the most notable fall (30.8%) - in section "crude materials, inedible (except fuels)."

In imports from EU, the largest increase (52.9%) was reported in section "mineral fuels, lubricants and related materials" while a decrease was observed only in section "Animal and vegetable oils, fats and waxes" – (4.1%).

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