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Bulgarian exports to EU grew by 34.6% in January-September 2011

Monday, Dec 12, 2011

Between January and September 2011, Bulgarian exports to other European Union countries rose by 34.6 per cent on the year, adding up to 18.1 billion leva, according to preliminary figures from the Bulgarian National Statistical Institute (NSI).

The country’s main trading partners remained Germany, Romania, Italy, Greece and Belgium, which jointly accounted for 67 per cent of total exports during the nine-month period. The biggest increase was seen in exports for Malta and Denmark, while those to Slovenia registered a decline. In September 2011, exports to the EU increased by 22.7 per cent year-on-year and exceeded two billion leva.

The preliminary NSI data showed a deceleration in Bulgarian foreign trade during the third quarter of 2011. However, according to a recent survey by the Bulgarian Chamber of Commerce and Industry, 60 per cent of the companies polled said they expected an increase in their 2012 export revenues.

Bulgarian imports from the EU for the first nine months of 2011 grew by 20.5 per cent year-on-year to 18.7 billion leva. Imports from Cyprus showed the largest increase, while imports from Finland, Portugal and Denmark decreased. In September 2011, Bulgarian imports from EU states rose by 10.3 per cent on the year, reaching 2.1 billion leva.

The trade balance for January-September 2011 was a negative 631.8 million leva. The NSI figures show that more goods were exported in all sectors. The largest growth was recorded for inedible raw materials, excluding fuels. Next came chemical products and animal and vegetable fats. Imports were also dominated by raw materials and fats, followed by petrol.

Bulgarian exports to non-EU countries during the nine months increased by 30.4 per cent on the year, the most significant growth being registered in the trade with Ukraine, Georgia and Canada.

Source: novinite.com