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Bulgarian companies expect growth in 2012 export revenue - poll

Wednesday, Dec 07, 2011

Nearly 60 per cent of the companies polled by the Bulgarian Chamber of Commerce and Industry (BCCI) expect to see export revenues increase in 2012, Bulgarian news agency BTA said on December 5 2011, citing data from the survey conducted in October.

A third of those polled believe that revenues will remain at 2011 levels, while 13 per cent expect a decline.

The European economic review by EUROCHAMBRES, of which BCCI is a member, shows that Bulgarian firms have the second-highest growth expectations for revenues from sales abroad. Portuguese businesses top the list, while companies from the Czech Republic and Hungary are the most pessimistic.

With regard to expectations for domestic sales growth, Bulgaria ranks third after Turkey and Poland, with Portugal and Greece making up the gloomy camp.

According to BCCI president Tsvetan Simeonov, Bulgarian export-oriented companies would do well not to pin their hopes on Europe in 2012 given the ongoing crisis on the continent. Prospects for Russia are also on the bleak side in light of the country’s trade barriers for EU goods. Simeonov recommends that Bulgarian firms focus on other traditional export markets, citing as examples Asia and the Middle East, as well as Libya. He also sees Brazil and Argentina as markets of considerable potential.

Source: thesofiaecho.com