Bulgaria's 2011 Exports Up 30% Y/Y - Final Data

Business | September 10, 2012, Monday // 12:47
Bulgarian 2011 Exports Up 30% Y/Y - Final Data: Bulgaria's 2011 Exports Up 30% Y/Y - Final Data The NSI headquarters in Sofia. File photo

In 2011, exported goods from Bulgaria were valued at BGN 39.6 B, which is a 30% increase, compared to 2010.

This is the final data on foreign trade, released by the National Statistics Institute, NSI, on Monday.

Compared to the same month of the previous year the largest growth was observed in January (by 71.1%) and the smallest one in December (by 13.8%).

Imported goods for 2011 were in the amount of BGN 45.8 B (at CIF prices) or 21.6% more than in 2010. An increase of imports was observed in all months of 2011, compared to the corresponding month of the previous year. The largest growth was in January - by 47.7% and the smallest one – in December by 7.3%. The tendency the imports to be higher than the exports continued in 2011.

Foreign trade balance (exports FOB - import CIF) was negative in 2011 and amounted to BGN 6.1 B, which was BGN 1.1 B less than the balance in 2010. At FOB/FOB prices (after elimination of transport and insurance costs on imports) the negative balance for 2011 added up to BGN 4.2 B.

The exports of Bulgaria in 2011 distributed according to the Standard International Trade Classification showed an increase in all the sections compared to the same period of 2010. The largest growths were recorded in the sections: "Crude Materials, Inedible (except Fuel)" (by 50.2%) and "Animal and Vegetable Oils, Fats and Waxes" (by 45.3 %).

In imports, the largest growths were recorded in the sections: "Crude Materials, Inedible (except Fuel) (by 41.0%), „Mineral Fuel, Lubricants and Related Materials" (by 24.0%) and "Animal and Vegetable Oils, Fats and Waxes" (by 24.0%).

In 2011, the exports of Bulgaria to EU countries increased by 33.1% compared to the previous year and amounted to BGN 24.7 B. The main trade partners of Bulgaria were Germany, Romania, Italy, Greece, Belgium and France that formed 74.0% from the exports to the EU. The exports to Malta and Denmark recorded growth by 399.2% and 134.8% respectively, while falls were observed in exports to Slovenia and Luxembourg.

Bulgarian imports from EU countries for 2011 increased by 23.5%, compared to the previous year and added up to BGN 27.2 B. The largest growth was recorded in the imports from Spain (by 241.5%) and Cyprus (by 187.5%). The most significant decrease was observed in imports from Malta and Finland.

The foreign trade balance (exports FOB - import CIF) of Bulgaria with EU countries was negative and amounted to BGN 2.5 B in 2011.

The exports of Bulgaria to EU distributed according to the Standard International Trade Classification showed that in 2011, compared to 2010, more goods were exported from all sections: The largest increase was observed in exports from the sections "Chemical and Related Products n.e.c." (by 50.4%), "Crude Materials, Inedible (except Fuel) (by 49.2%) and "Manufactured Goods Classified Chiefly by Material" (by 48.1%).

In imports from the EU, an increase in all sections was observed except in section „Mineral Fuel, Lubricants and Related Materials".

In 2011, Bulgarian exports to third countries increased by 25.7% compared to the previous year and added up to BGN 15 B.

The main trade partners of Bulgaria were Turkey, Russia, Serbia, The FYR of Macedonia that formed 42.0% of the total exports to non EU countries.

The exported goods to Turkey increased by 31.6% and those to Russia by 22.8%. The most significant growths were observed in the exports to South Africa by 767.8% and Canada by 215.2%. The most significant falls were reported on the exports to Singapore, Syria and Peru.

Bulgarian imports from third countries for 2011 increased by 19.0%, compared to the previous year, and amounted to BGN 18.6 B

The most significant growths were reported on imports from Kazakhstan (by 873.0%) and Israel (by 85.6%). The most significant falls were reported on imports from Peru and Iran.

In 2011, the trade balance of Bulgaria (export FOB - import CIF) with third countries was negative and added up to BGN 3.6 B.

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Tags: imported goods, exported goods, third countries, EU, trade balance, imports, exports, NSI, National Statistics Institute

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