Binational Chamber of Commerce Bulgaria Israel - Bulgarian Exports to the EU Increased by 11.3% in the Period Between January-June 2017

Bulgarian Exports to the EU Increased by 11.3% in the Period Between January-June 2017

Written by Bccbi
Monday, 18 September 2017 08:23
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In the period January - June 2017 Bulgarian exports to the EU increased by 11.3% compared to the same period of 2016 and amounted to 16 345.6 Million BGN according to data of the National Statistical Institute (NSI).

Main trade partners of Bulgaria were Germany, Italy, Romania, Greece, France and Belgium which accounted for 69.0% of the exports to the EU Member States.

In June 2017 the exports to the EU increased by 13.1% compared to the corresponding month of the previous year and amounted to 3 048.5 Million BGN.

In the period January - June 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 ‘Manufactured goods classified chiefly by material’ (35.8%) and ‘Mineral fuel, lubricants and related materials’(24.2%). The most notable fall was recorded in sections ‘Food and live animals’ (5.4%) and ‘Beverages and tobacco’ (5.4%).

Bulgarian imports from the EU in the period January - June 2017 increased by 12.2% compared to the same period of 2016 and added up to 18 067.5 Million BGN at CIF prices. The largest amounts were reported for the goods imported from Germany, Italy, Romania, Spain and Greece. In June 2017 the Bulgarian imports from the EU Member States grew by 7.6% compared to the corresponding month of the previous year and amounted to 3 122.5 Million BGN.

In the period January - June 2017 compared to the corresponding period of 2016 the largest growth in imports from the EU distributed according to the Standard International Trade Classification were reported in the sections ‘Crude materials, inedible (except fuel)’ (58.5%) and ‘Mineral fuel, lubricants and related materials’ (57.6%) while fall was observed only in section ‘Beverages and tobacco’ (3.4%).

The foreign trade balance of Bulgaria (export FOB - import CIF) with the EU in the period January - June 2017 was negative and added up to 1 721.9 Million BGN . At FOB/FOB prices (after elimination of transport and insurance costs on imports) the trade balance was also negative and amounted to 857.9 Million BGN.

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