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Bulgaria's exports to other EU countries up 11.2% in January - July 2017 but trade balance negative

Bulgaria's exports to other EU countries up 11.2% in January - July 2017 but trade balance negative
Bulgaria's exports to other European Union countries in January to July 2017 were 11.2 per cent higher than in January to July 2016, but the trade balance was negative, the National Statistical Institute (NSI) said on October 9, citing preliminary figures.

In the period January - July 2017 Bulgarian exports to the rest of the EU amounted to 19 468.7 million leva.

Among EU countries, Bulgaria main trading partners were Germany, Italy, Romania, Greece, France and Belgium which accounted for 68.6 per cent of the exports to the EU member states.

In July 2017, Bulgaria's exports to the EU increased by 10.7 per cent compared to the corresponding month of the previous year and amounted to 3 123.1 million leva, the NSI said.

In the period January - July 2017 compared to the corresponding period of the previous year the largest growths in the exports of Bulgaria to the EU distributed according to the Standard International Trade Classification were recorded in the sections ‘Mineral fuel, lubricants and related materials’(32.7 per cent) and ‘Manufactured goods classified chiefly by material’ (31.4 per cent). The most notable fall was recorded in sections ‘Beverages and tobacco’ (16.2 per cent) and ‘Crude materials, inedible (except fuel)’ (4.2 per cent).

Bulgarian imports from the EU in the period January - July 2017 increased by 10.7 per cent compared to the same period of 2016 and added up to 21 064.1 million leva at CIF prices (Annex, Tables 1 and 2). The largest amounts were reported for goods imported from Germany, Italy, Romania, Spain and Greece.

In July 2017 the Bulgarian imports from other EU member states grew by 2.5 per cent compared to the corresponding month of the previous year and amounted to 2 996.6 million leva.

In the period January - July 2017 compared to the corresponding period of 2016 the largest growths in imports from the EU distributed according to the Standard International Trade Classification were reported in the sections ‘Crude materials, inedible (except fuel)’ (45.6 per cent) and ‘Mineral fuel, lubricants and related materials’ (43.8 per cent) while fall was observed only in section ‘Beverages and tobacco’ (2.0 per cent).

The foreign trade balance of Bulgaria (export FOB - import CIF) with the EU in the period January - July 2017 was negative and added up to 1 595.4 million leva. At FOB/FOB prices (after elimination of transport and insurance costs on imports) the trade balance was also negative and amounted to 591.4 million leva, the NSI said./IBNA 

(Photo of the port of Rousse: Diego Delso)

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