Bulgaria's Exports to the European Union Increased by 11.4% in January-November 2017Finance | February 9, 2018, Friday // 13:33| views
Bulgaria's exports to the European Union increased by 11.4% in January-November 2017 compared to the same period last year, according to NSI data.
Bulgaria's main trading partners are Germany, Italy, Romania, Greece, France and Belgium, which account for 67.5% of exports to EU Member States. In November 2017, exports to the EU increased by 15.3% compared to the same month of the previous year and amounted to BGN 3,210.6 million.
The largest growth was recorded in the "Products classified chiefly by type of material" (25.2%) and the largest decline was observed in the "Non-alcoholic and alcoholic beverages and tobacco" sector (13.7%).
Bulgaria's EU imports in January-November 2017 increased by 11.4% compared to the same period in 2016 and amounted to BGN 34 436.6 million at CIF prices. The largest is the value of goods imported from Germany, Italy, Romania, Spain and Greece.
In November 2017, Bulgaria's imports from the EU Member States increased by 15.4% compared to the same month of the previous year and amounted to BGN 3 597.9 million.
The largest percentage increase was recorded in the raw materials (unfit for consumption) (45.5%) and 'Mineral fuels, oils and related products' (36.1%). The largest decrease was recorded in 'Fats, oils and waxes of animal and vegetable origin' (3.9%).
The foreign trade balance (export FOB - import CIF) of Bulgaria to the EU for the period January - November 2017 was negative and amounted to BGN 2 456.7 million. At FOB / FOB prices (after the elimination of transport and insurance costs on imports of goods) the balance is also negative and amounts to BGN 349.0 million.
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