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Bulgaria's Exports to EU Down in January-April 2014

Business | July 9, 2014, Wednesday // 13:03| Views: 732 | Comments: 0
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Bulgaria: Bulgaria's Exports to EU Down in January-April 2014 File photo

Bulgarian exports to the European Union have dwindled by 0.9% in the first 4 months on the year compared to the same period in 2013, data from the national statistics body shows.

Their total value was BGN 2.1 B (EUR 1.05 B), while imports amounted to BGN 9.9 B (EUR 4.95 B).

Imports within that stretch of time were up 4.6% compared to the previous year.

A message the National Statistical Institute (NSI) released on its website [BG] shows April was the hardest month for the country's trade balance with the EU, with a 3.5-percent decrease of exported goods and 0.6% increase of imported ones.

Germany, Italy, Romania, Spain and Greece are the EU members states selling the most to Bulgaria in terms of goods value.

Foreign trade balance (imports CIF - exports FOB) with the EU was negative and equal to BGN 1666.8 M (EUR 833.4 M) between January and April.

Calculated in FOB/FOB prices (eliminating insurance and freight charges) it was - BGN 1212.9 M (EUR 606.45 M).

NSI results show that the sector of oils, fats and waxes of animal or vegetable origin marked the biggest surge in exports to the EU (49.9%).

The grouping of "Mineral Fuels, Lubricants and Related Products" saw the biggest drop with 28.3%, followed by "Beverages and Tobacco" (19.6%).

EU imports rose mostly in the sector of "Mineral Fuels, Lubricants and Related Products" (21.5%), and "Crude Materials, Inedible (Except Fuels) decreased the most (6.7%).

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Tags: Bulgaria, EU, NSI, imports, exports, foreign trade balance, CIF, FOB
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