Bulgaria's Third Countries Exports Decline in Q1 2014

In Q1 2014 Bulgarian exports to third countries decreased by 16.8% compared to the corresponding period of 2013 and amounted to BGN 3.4B.

Main trade partners of Bulgaria were Turkey, China, Russian Federation, Singapore, United Arab Emirates and Macedonia which accounted for 55.3% of the exports to non EU countries, Bulgaria's National Statistical Institute preliminary data for the period January-March 2014 showed.

In March 2014 exports to third countries decreased by 22.2% compared to the corresponding month of the previous year and amounted to BGN 1.0B.Bulgarian imports from third countries in the first three months of 2014 decreased by 7.8% compared to the corresponding period of 2013 and added up toBGN 4.4B (at CIF prices). The largest amounts were reported for the goods imported from the Russian Federation,Turkey, China and Ukraine.

In March 2014 Bulgarian imports from third countries decreased by 5.6% compared to the corresponding month of the previous year and amounted to BGN 1.4B.The foreign trade balance of Bulgaria (export FOB-import CIF)with third countries for the period January-March 2014 was negative and added up to BGN 1 031.1M.

The trade balance at FOB/FOB prices (after elimination of transport and insurance costs on imports) was also negative and amounted to BGN 805.5M. In March 2014 the foreign trade balance of Bulgaria (export FOB-import CIF) with third countrieswas negative and amounted to BGN 425.6M.

In the first three months of 2014 compared to the corresponding period of 2013 the largest growth in the exports of Bulgaria to third countries distributed according to the Standard International Trade Classification was recorded in the section Chemical and related products (12.0%). The most notable drop was reported in sections Mineral fuel, lubricants and relatedmaterials (38.9%) and Crude materials, inedible (except fuels) (38.4%).

In imports of Bulgaria from third countries the largest growth was reported in section Beverages and tobacco (48.2%) while the most notable drop was observed in section Animals and vegetable oils,fats and waxes (27.0%).

In the period January-March 2014the value of all exported goods from Bulgaria amounted to BGN 9.5B and compared to the corresponding period of 2013 the exports decreased by 6.9%. In March 2014 the total exportsof Bulgaria added up to BGN 3.2B and decreased by 8.8% compared to the corresponding month of the previous year.The total value of all the goods imported in the country in the period January-March 2014 amounted toBGN 11.7B (at CIF prices), or by 0.3% more than in the corresponding period of 2013.

In March 2014 the total imports of Bulgaria increased by 1.6% compared to the corresponding month of the previous year and added up to BGN 3.9B.The total foreign trade balance was negative in the period January-March 2014 and amounted to BGN 2186.7M which wasBGN 737.3M more than the balance in the first three months of 2013. At FOB/FOB prices in the period January-March 2014 the total foreign trade balance was also negative and amounted to BGN 1614.7M.

In March 2014 the total foreign trade balance (exports FOB-import CIF) was negative and added up to BGN 753.0M. The trade balance at FOB/FOB prices was also negative and amounted to BGN 560.2M.

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