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Bulgaria Boosts Exports to EU Countries in 2010

Tuesday, Jan 11, 2011

Bulgaria's exports to EU countries have increased with 23.5% year on year between January and December 2010, reaching a total of BGN 15.2 B, according to the National Statistical Institute's preliminary data.

The largest share of Bulgaria's EU export goes to Germany, Italy, Romania and Greece – a total of 61.6%. The Balkan country has boosted its export to Italy and Romania with 39.1% and 33.3% respectively.

The biggest export increase is registered to the countries of Luxembourg, Estonia and Slovenia. The exports to Denmark and Czech Republic reported growths by 61.4% and 52.6% respectively. The most notable drops were registered in the exports to Belgium and Cyprus.

In October 2010, the exports to the EU increased by 20.2% compared to the corresponding month of the previous year and reached BGN 1.8 B.

The foreign trade balance of Bulgaria (export FOB - import CIF) with EU in the period

January – October 2010 was negative and amounted to BGN 2.3 B.

The exports of Bulgaria to the EU distributed according to the Standard International Trade Classification have shown that the largest growths have been recorded in the sections "Crude materials, inedible (except fuel)" and "Chemical and related products". A fall was observed only in one section – „Beverages and tobacco".

Bulgarian imports from the EU in the period January - October 2010 have increased by 7.1% year on year, amounting to BGN17.5 B at CIF prices.

The most significant growths have been reported on the imports from Malta (by 275.4%) and Portugal (89.5%). The largest decreases were observed in the imports from Estonia, Czech Republic and Denmark. In October 2010 the Bulgarian imports from the EU Member States increased by 11.4% compared to the corresponding month of the previous year and amounted to BGN 2.1 B.

The largest growths on imports from the EU were reported in sections "Crude materials, inedible (except fuel)" and "Mineral fuel, lubricants and related materials" and the lowest in the "Machinery and transport equipment" section.

Source: novinite.com