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Bulgaria's Exports to EU Go Up in January-May

Wednesday, Aug 10, 2016

Bulgarian exports to other EU member states grew, while imports shrank between January and May compared to the same period of 2015, according to preliminary statistics.

Exports increased by 3.5% year-on-year in the first five months of 2016, amounting to BGN 11.9916 B, National Statistica Agency (NSI) data shows.

Germany, Italy, Romania, Greece, France and the United Kingdom were the country's biggest export partners for that period of time, accounting for 69.3% of all the exports ot EU member states.

According to the Standard International Trade Classification, "Chemical and related products" (29.0%) and "Food and live animals" (27.4%) were the two sections where the largest growth was posted in the first five months of 2016 compared to the same period of last year. "Mineral fuel, lubricats and related materials" was the section with the most notable fall, with 38.1%.

Imports went down 0.9% between January and May, amounting to BGN 13.159 B, compared to last year.

Top importers included Germany, Italy, Romania, Greece and Hungary.

The largest year-on-year growth was reported in "Beverages and tobacco" (25.5%) and the biggest fall was in "Crude materials, inedible (except fuel)" (36.2%).

The foreign trade balance of Bulgaria (export FOB - import CIF) with the EU in the period January-May 2016 was negative and added up to BGN 1.1674 B. At FOB/FOB prices (after elimination of transport and insurance costs on imports) the trade balance was also negative and amounted to BGN 291.5 M.

In May 2016 alone, exports to the EU increased by 4.4% compared to the corresponding month of the previous year and added up to BGN 2.396.4 B, preliminary data also suggested. Imports grew by 0.9% compared to May 201, amounting to BGN 2.6099 B. -

Source: www.novinite.com