Bulgaria with Growing Trade Deficit with Brazil

Business | July 14, 2010, Wednesday // 21:01| Views: | Comments: 0
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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