Bulgaria’s trade deficit (export FOB - import CIF) with the rest of EU increased to BGN 4.58 B last year from BGN 4.05 B in 2013, the National Statistics Institute (NSI) said on Thursday.

Bulgarian exports to the EU grew by 3.2% year on year in 2014, reaching BGN 27.0 B.

Germany, Italy, Romania, Greece, France and Belgium absorbed 70.6% of Bulgaria’s exports to the EU last year.

In 2014 compared to 2013 the largest increase (13.5%) in the exports of Bulgaria to the EU was recorded in the section of chemicals and related products. The sharpest decline wasposted in exports of mineral fuel, lubricants and related materials (-18.1%) and beverages and tobacco (-16.9%).

Imports increased by 4.5% last year, reaching BGN 31.5 B, with Germany, Italy, Romania, Greece and Spain leading the list of sources of Bulgarian imports from other members of the bloc.

In imports from the EU the largest growth (8.3%) was reported in the sections of chemical and related products and manufactured goods, while the most notable fall (-17.5%) was observed in the section of animal and vegetable oils, fats and waxes, the NSI said.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!