Bulgaria’s Exports to EU Up 2.1% Y/Y in Jan-Nov 2014

Business | February 9, 2015, Monday // 12:40|  views

Photo by EPA/BGNES

In the period January-November 2014, Bulgaria’s exports to the EU amounted to BGN 24.9 B, up by 2.1% from the same period of 2013, according to data of the National Statistical Institute (NSI).

Bulgaria’s main trade partners were Germany, Italy, Romania, Greece, France, and Belgium, which accounted for 71.0% of the exports to EU Member States.

In November 2014, exports to the EU decreased by 0.4% compared to the same month of 2013, reaching BGN 2.4 B, according to preliminary data of the NSI.

Bulgaria’s imports from EU countries in the period January – November 2014 went up by 3.5% to the level of BGN 28.6 B at CIF prices.

In terms of value, the goods imported from Germany, Italy, Romania, Greece, and Spain had the largest shares.

In November 2014, Bulgaria’s imports from EU countries added 5.7% on the year, reaching BGN 2.8 B at CIF prices.

Bulgaria’s foreign trade balance (export FOB - import CIF) with the EU in
the period January – November 2014 was negative and added up to BGN 3 761.1 M.

At FOB/FOB prices (after the elimination of transport and insurance costs on imports) the trade balance was also negative and amounted to BGN 2 602.6 M.

As regards Bulgaria’s exports to the EU in the first eleven months of 2014, the largest year-on-year growth of 12.3% was registered in “Chemical and related products n.e.c.”, following the categorization of the Standard International Trade Classification.

The largest decreases were recorded in “Mineral fuel, lubricants and related materials” by (22.9%) and “Beverages and tobacco” (19.3%).

As regards Bulgaria’s imports from the EU, the largest growth of 7.9% was registered in the segment of “Chemical and related products n.e.c.”, while the largest decrease of 17.5% was observed in the segment of “Animal or vegetable fats and oils and waxes.”

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Tags: National Statistical Institute, NSI, exports of goods, imports of goods, EU member states


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