Bulgaria's EU Imports Record 6.1% Increase in Q1 2014
In the period January-March 2014 Bulgarian exports to the EU increased by 0.1% compared to the corresponding period of the previous year and amounted to BGN 6.2B.
Main trade partners of Bulgaria were Germany, Italy, Romania, Greece, France and Belgium which accounted for 72.5% of the exports to the EU Member States, according to Bulgaria's National Statistical Institute preliminary data.
In March 2014 the exports to the EU increased by 0.1% compared to the corresponding month of the previous year and amounted to BGN 2.2B.
Bulgarian imports from the EU in the period January-March 2014 increased by 6.1% compared to the corresponding period of the previous year and added up to BGN 7.3B at CIF prices.
The largest amounts were reported for the goods imported from Germany, Romania, Italy, Greece and Spain. In March 2014 Bulgarian imports from the EU Member States increased by 6.7% compared to the corresponding month of the previous year and amounted to BGN 2.5B at CIF prices.
The foreign trade balance of Bulgaria (export FOB-import CIF) with the EU in the period January – March 2014 was negative and added up to BGN 1 141.7M. At FOB/FOB prices, i.e. after elimination of transport and insurance costs on imports, the trade balance was also negative and amounted to BGN 809.2M.
In the first three months of 2014 compared to the corresponding period of the previous year the largest growth (49.2%) in the exports of Bulgaria to the EU distributed according to the Standard International Trade Classification was recorded in the section Animals and vegetable oils, fats and waxes. The most notable fall was recorded in sections Mineral fuel, lubricants and related materials (35.6%) and Crude materials, inedible (except fuels) - 23.8%.
In imports from the EU the largest growth of 20.4% was reported in section Animals and vegetable oils, fats and waxes while the most notable fall of 14.4% was observed in section Crude materials, inedible (except fuels).
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