Binational Chamber of Commerce Bulgaria Israel - Bulgarian Exports to the EU Increased by 11.2% in the Period January-July 2017

Bulgarian Exports to the EU Increased by 11.2% in the Period January-July 2017

Written by Bccbi
Thursday, 12 October 2017 11:28
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In the period January - July 2017 Bulgarian exports to the EU increased by 11.2% compared to the same period of 2016 and amounted to 19 468.7 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 68.6% of the exports to the EU Member States.

In July 2017 the exports to the EU increased by 10.7% compared to the corresponding month of the previous year and amounted to 3 123.1 Million BGN.

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%) and ‘Manufactured goods classified chiefly by material’ (31.4%). The most notable fall was recorded in sections ‘Beverages and tobacco’ (16.2%) and ‘Crude materials, inedible (except fuel)’ (4.2%).

Bulgarian imports from the EU in the period January - July 2017 increased by 10.7% compared to the same period of 2016 and added up to 21 064.1 Million BGN at CIF prices. The largest amounts were reported for the goods imported from Germany, Italy, Romania, Spain and Greece. In July 2017 the Bulgarian imports from the EU Member States grew by 2.5% compared to the corresponding month of the previous year and amounted to 2 996.6 Million BGN.

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%) and ‘Mineral fuel, lubricants and related materials’ (43.8%) while fall was observed only in section ‘Beverages and tobacco’ (2.0%). 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 BGN. 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 BGN.

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