Independent Balkan News Agency

Bulgaria's exports to other EU countries increased close to 8% in 2015 - statistics institute

Bulgaria's exports to other EU countries increased close to 8% in 2015 - statistics institute
Sofia, March 11, 2016/Independent Balkan News Agency

By Clive Leviev-Sawyer of The Sofia Globe

Exports from Bulgaria to other European Union countries were 7.9 per cent higher in 2015 than in 2014, adding up to 29.1 billion leva (about 14.8 billion euro), the country's National Statistical Institute said on March 11 2016, citing preliminary figures.

The year 2015, however, saw Bulgaria record a negative trade balance with the rest of the EU.

Bulgaria's main trading partners among other EU countries were Germany, Italy, Romania, Greece, France and Belgium which accounted for 69.1 per cent of the exports to the EU, the NSI said.

The institute said that in December 2015, Bulgaria's exports to the rest of the EU increased by 5.8 per cent compared to the corresponding month of the previous year and amounted to 2.174 billion leva.

Bulgarian imports from the EU in 2015 increased by 5.5 per cent compared to 2014 and added up to 33.2 billion leva at CIF prices. The largest amounts were reported for goods imported from Germany, Italy, Romania, Greece and Spain.

In December 2015, Bulgarian imports from other EU member states increased by 1.3 per cent compared to the corresponding month of the previous year and amounted to 2.861 billion leva at CIF prices.

The foreign trade balance of Bulgaria (export FOB - import CIF) with the EU in 2015 was negative and added up to 4 174.5 million leva, the National Statistical Institute said.

At FOB/FOB prices (after elimination of transport and insurance costs on imports) the trade balance was also negative and amounted to 1 952.7 million leva.

In 2015, compared to 2014, the largest growths in the exports of Bulgaria to the EU distributed according to the Standard International Trade Classification were recorded in the sections ‘Chemical and related products n.e.c.’ (22.5 per cent) and ‘Machinery and transport equipment’ (12.5 per cent).

The most notable fall was recorded in section ‘Animals and vegetable oils, fats and waxes’ (3.2 per cent).

In imports from the EU, the largest growth was reported in the section ‘Beverages and tobacco’ (25.3 per cent) while the most notable fall was observed in section ‘Mineral fuel, lubricants and related materials’ (22.6 per cent), the National Statistical Institute said.

(Photo: Miroslav Sárička/sxc.hu)

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