Bulgaria's Exports to EU Record Slight Decrease in Jan-Feb 2014

In the period January-February 2014, Bulgarian exports to the EU decreased by 0.1% compared to the corresponding period of the previous year and amounted to BGN 4B.

According to the preliminary data released by the National Statistical Institute (NSI), the main trade partners of Bulgaria were Germany, Italy, Romania, Greece, France and Belgium which accounted for 71.8% of the exports to the EU Member States.

In February 2014 the exports to the EU increased by 2.5% compared to the corresponding month of the previous year and amounted to BGN 2B. Bulgarian imports from the EU in the period January-February 2014 increased by 5.7% compared to the corresponding period of the previous year and added up to BGN 4.8B at CIF prices. The largest amounts were reported for the goods imported from Germany, Romania, Italy, Spain and Greece.

In February 2014 Bulgarian imports from the EU Member States decreased by 0.3% compared to the corresponding month of the previous year and amounted to BGN 2.5B at CIF prices. The foreign trade balance of Bulgaria (export FOB-import CIF) with the EU in the period January–February 2014 was negative and added up to BGN 828.2M. At FOB/FOB prices (after elimination of transport and insurance costs on imports) the trade balance was also negative and amounted to BGN 605.9M.

In the first two months of 2014 compared to the corresponding period of the previous year the largest growth (38.6% )in the exports of Bulgaria to the EU distributed according to the Standard International Trade Classification was recorded in the section "Animals and vegetable oils, fats and waxes".

The most notable fall was recorded in sections"Mineral fuel, lubricants and related materials" (36.1%) and "Beverages and tobacco"(30.8%).In imports from the EU the largest growth (28.2%) was reported in section"Mineral fuel, lubricants and related materials"while the most notable fall (16.4%) was observed in section"Crude materials, inedible.

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