Bulgarian exports to EU and to third countries rise

Trade with EU Member States

In the period January - April 2017 Bulgarian exports to the EU increased by 8.6% compared to the same period of 2016 and amounted to BGN 10 418M. Main trade partners of Bulgaria were Germany, Italy, Romania, Greece, France and Belgium which accounted for 68.7% of the exports to the EU Member States. In April 2017 the exports to the EU decreased by 1.3% compared to the corresponding month of the previous year and amounted to BGN 2 503.4M, according to the National Statistical Institute (NSI). 

In the period January - April 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 ‘Manufactured goods classified chiefly by material’ (29.9%) and ‘Mineral fuel, lubricants and related materials’ (29.5%). The most notable fall was recorded in section ‘Beverages and tobacco’ (20.1%).

Bulgarian imports from the EU in the period January - April 2017 increased by 11.3% compared to the same period of 2016 and added up to BGN 11 758.5M at CIF prices. The largest amounts were reported for the goods imported from Germany, Romania, Italy, Spain and Greece. In April 2017 the Bulgarian imports from the EU Member States grew by 10.8% compared to the corresponding month of the previous year and amounted to BGN 2 985M.

In the period January - April 2017 compared to the corresponding period of 2016 the largest growth in imports from the EU distributed according to the Standard International Trade Classification was reported in the section ‘Mineral fuel, lubricants and related materials’ (77.5%) while fall was observed only in section ‘Beverages and tobacco’ (4.7%). The foreign trade balance of Bulgaria (export FOB - import CIF) with the EU in the period January - April 2017 was negative and added up to BGN 1 339.9M 

Trade with third countries

In the period January - May 2017 Bulgarian exports to third countries increased by 26.0% in comparison with the corresponding period of the previous year and amounted to BGN 7 244.4M, according to the National Statistical Institute.

Main trade partners of Bulgaria were Turkey, China, the Russian Federation, Egypt, Serbia, the Former Yugoslav Republic of Macedonia, which accounted for 51.5% of the exports to non-EU countries. In May 2017 Bulgarian exports to third countries grew by 42.0% compared to the corresponding month of the previous year and amounted to 1 591.2 Billion BGN.

The total value of all the goods imported in the country in the period January - May 2017 amounted to BGN 23 558.2 M (at CIF prices), or by 20.1% more than the same period of 2016. In May 2017 the total imports increased by 20.7% compared to the same month of the previous year and added up to 4 BGN 929.2 Billion.

The total foreign trade balance (exports FOB - import CIF) was negative in the period January - May 2017 and amounted to BGN 3 035.7M. At FOB/FOB prices (after elimination of transport and insurance costs on imports) in the period January - May 2017 the total foreign trade balance was also negative and added up to BGN 1 882.5M. In May 2017 the total foreign trade balance (exports FOB - import CIF) was negative and added up to BGN 478.5M. The trade balance at FOB/FOB prices was also negative and amounted to BGN 236.8M.