Bulgaria's Exports to EU Up 34% 2011 Y/Y

Business | March 12, 2012, Monday // 14:44
Bulgaria's Exports to EU Up 34% 2011 Y/Y: Bulgaria's Exports to EU Up 34% 2011 Y/Y In December 2011, Bulgaria's exports to the EU exceeded BGN 1.8 B. File photo

In 2011, Bulgarian exports to the EU increased by 33.6% compared to 2010 and amounted to BGN 24.7 B.

The flash estimates were released by the National Statistics Institute, NSI, Monday.

The main trade partners of Bulgaria were Germany, Romania, Italy, Greece and Belgium, forming 67.4 % of the total exports to the EU Member states.

The most significant growths were observed in the exports to Malta, Denmark and Portugal. Falls were registered in the exports to Slovenia and Luxembourg.

In December 2011, exports to the EU increased by 20.0% compared to the corresponding month of the previous year and exceeded BGN 1.8 B.

Bulgarian imports from the EU in 2011 increased by 22.8% compared to 2010 and amounted to BGN 27 B at CIF prices.

The most significant growths were reported on imports from Spain and Cyprus. Decreases were observed in the imports from Malta, Finland, Portugal and Denmark.

In December 2011, Bulgarian imports from the EU Member States increased by 16.8% compared to the corresponding month of the previous year and exceeded BGN 2.4 B at CIF prices.

The foreign trade balance of Bulgaria (export FOB - import CIF) with EU in 2011 was negative and amounted to BGN 2298 M. At FOB/FOB prices (after elimination of transport and insurance costs on imports) the trade balance was also negative and reached BGN 1035.4 M.

The exports of Bulgaria to the EU, distributed according to the Standard International Trade Classification, increased in all sections in 2011 compared to 2010. The largest growths were recorded in the sections "Crude Materials, Inedible (except fuels)", "Chemicals and Related products" and "Manufactured Goods Classified Chiefly by Material".

The largest growths on imports from EU were reported in sections "Crude Materials, Inedible (except fuels)". Falls were reported in section "Mineral Fuels, Lubricant and Related Materials".

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Tags: NSI, exports, imports, CIF, FOB, trade balance, EU, Standard International Trade Classification

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