Bulgaria with Growing Trade Deficit with Brazil

Business | July 14, 2010, Wednesday // 21:01| Views: | Comments: 7
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Bulgaria: Bulgaria with Growing Trade Deficit with Brazil Brazilian President, Luiz Inacio Lula da Silva (L) shakes hands with the President of the European Council Herman Van Rompuy (C) as the President of the EC, Jose Manuel Durao Barroso during the 4th EU-Brazil Summit. Photo by EPA/BGNES

Bulgaria has a trade deficit of EUR 92 M with Brazil, according to Eurostat data released on the occasion of the fourth EU-Brazil Summit.

In 2009, Bulgaria’s export to Brazil amounted to EUR 30 M, while its import from Brazil was worth four times more, EUR 122 M, according to Eurostat.

Bulgaria’s trade deficit with Brazil has actually grown despite the increase of its export: in 2000, its export to Brazil was worth only BGN 6 M, and its import from Brazil was EUR 71 M, a trade deficit of EUR 66 M.

In 2009, the export of goods from the EU27 to Brazil fell to EUR 21.6 B, down from the peak of EUR 26.3 B in 2008. Imports fell to EUR 25.7 B in 2009, after EUR 35.9 B in 2008. This led to a decreasing EU27 deficit in trade in goods with Brazil, from EUR 9.6 B in 2008 to EUR 4.1 B in 2009, says Eurostat in a statement.

The share of Brazil in the EU27's total external trade in goods has remained around 2% since 2000. In 2009, Brazil was the EU27's tenth most important trading partner.

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Tags: Brazil, EU 27, foreign trade, trade deficit, EU-Brazil Summit
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» To the forumComments (7)
#7
CJB - 16 Jul 2010 // 22:17:01

"You can find many Bulgarians selling arms in secondary markets for drug traffikers."

I seem to recall some Bulgarian guys arrested in Colombia a while ago for illicit arms dealing?

#6
Jerry - 16 Jul 2010 // 21:29:30

In reality Brazil has not entered the Balkan Trade Group and is seeking entry without success.

Brazil's tropical fruits and ethanol trade are the only commodities that enter the Balkans witrh limitation. The rigid rules within the EU does not allow Latin American products enter easily.

Brazil buys live Buffalos and high quality genetics for the Buffalo producers in Brazil.

The Balkan Trade Agreements must be established with Latin America (MERCOSUL), Bulgaria is very silient concerning Latin American Trade.

You can find many Bulgarians selling arms in secondary markets for drug traffikers.

#5
CJB - 15 Jul 2010 // 10:45:31

"The main imports from Brazil are copper ore (78.1 Mill. USD) and tobacco (17.2 Mill. USD).

The main exports to Brazil are disodiumcarbonate (6.8 Mill USD) and superphosphates (5.4 Mill. USD)."

TIM will be doing very nicely out of this trade then, seeing as they control many of the companies involved in these industries. Perhaps this is why Brazil is a newly found "focus" of the B ulgarian state...

#4
DrFaust - 15 Jul 2010 // 08:17:51

Jerry,

"It seems Bulgaria is importing Brazilian Mulatos and good "Cachaca" sugarcane."

The main imports from Brazil are copper ore (78.1 Mill. USD) and tobacco (17.2 Mill. USD).

The main exports to Brazil are disodiumcarbonate (6.8 Mill USD) and superphosphates (5.4 Mill. USD).

#3
NellieotAmerica - 15 Jul 2010 // 01:34:21

Why are we even focusing on Brazil at all? As a trading partner to Bulgaria, Brazil is insignificant. There are other nations who trade a lot more with Bulgaria. Whatever Brazil is trading with Bulgaria is a small quantity, hardly worth writing about.

http://www.economywatch.com/world_economy/bulgaria/export-import.html

#2
CJB - 14 Jul 2010 // 23:13:27

It would be useful to know what sort of things BG is importing from Brazil, and what on earth are the exports? Sugar in, weapons out? Surely it is not too much to ask the "reporters" to dig out a few facts, not just meaningless stats from NSI?

#1
Jerry - 14 Jul 2010 // 23:09:43

It seems Bulgaria is importing Brazilian Mulatos and good "Cachaca" sugarcane.

A little of Rio in Sofia will bring alot of hot flashes.

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