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Bulgaria slightly improves export figures but trade deficit remains

Bulgaria slightly improves export figures but trade deficit remains
 

By Clive Leviev – Sawyer of The Sofia Globe

Bulgaria's exports to European Union and non-EU countries in the January-September 2013 period increased slightly on an annual basis but trade deficits with both sets of countries remained in place.

This emerges from figures released on November 11 2013 by the National Statistical Institute

In the period January - September 2013, Bulgarian exports to third countries increased by 5.6 per cent compared to the corresponding period of the previous year and amounted to 12.9 billion leva, while imports decreased by 0.9 per cent and added up to 15.3 billion leva.

In the period January - September 2013, the total value of all exported goods (both for third countries and the EU) amounted to 32.5 billion leva. Compared to the corresponding period of 2012, exports increased by 7.8 per cent while the total value of all imported goods added up to 37.5 billion leva, meaning an increase of 1.1 per cent.

Among non-EU countries, the main trade partners of Bulgaria were Turkey, China, Russian Federation, Gibraltar, Ukraine and Serbia, which accounted for 51.5 per cent of the exports to non-EU countries.

The foreign trade balance of Bulgaria with third countries in the period January - September 2013 was negative, adding up to 2.3 billion leva. The trade balance (after elimination of transport and insurance costs on imports) was also negative, amounting to 1.4 billion leva.

In the period January - August 2013, Bulgarian exports to the EU increased by 8.3 per cent compared to the corresponding period of the previous year, amounting to 17.1 billion leva while the imports from EU grown by 0.7 per cent, adding up to 19.5 billion leva.

In August 2013, exports to the EU increased by 20.2 per cent compared to August 2012, amounting to 2.4 billion leva while imports decreased by 2.2 per cent, adding up to 2.2 billion leva.

In the period January - August 2013, Bulgarian exports to the EU increased by 8.3 per cent compared to January-August 2012, amounting to 17.1 billion leva.

The main trade partners of Bulgaria were Germany, Italy, Romania, Greece and France which accounted for 68.3 per cent of exports to EU member states.

In August 2013, exports to the EU increased by 20.2 per cent compared to the corresponding month of the previous year and amounted to 2.4 billion leva.

Bulgarian imports from the EU in the period January - August 2013 grew by 0.7 per cent compared to the corresponding period of the previous year and added up to 19.5 billion leva at CIF prices. The largest amounts were reported for the goods imported from Germany, Italy, Romania, Greece

and Spain.

In August 2013, Bulgarian imports from EU member states decreased by 2.2 per cent compared to the corresponding month of the previous year and amounted to 2.2 billion leva at CIF prices.

 

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