In 2017 Bulgarian Exports to the EU Grew by 10.8% in Comparison with 2016

Business » FINANCE | March 13, 2018, Tuesday // 12:38| Views: | Comments: 0
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Bulgaria: In 2017 Bulgarian Exports to the EU Grew by 10.8% in Comparison with 2016 pixabay.com

In 2017 Bulgarian exports to the EU grew by 10.8% in comparison with 2016 and amounted to 34 518.7 Million BGN. Main trade partners of Bulgaria were Germany, Italy, Romania, Greece, Belgium and France which accounted for 67.5% of the exports to the EU Member States. In December 2017 the exports to the EU increased by 2.7% compared to the corresponding month of the previous year and added up to 2 507.8 Million BGN, according to the National Statistical Institute (NSI). 

In 2017 in comparison with 2016 the largest growths in the exports of Bulgaria to the EU distributed according to the Standard International Trade Classification were recorded in the sections ‘Animals and vegetable oils, fats and waxes’ (30.3%) and ‘Manufactured goods classified chieflyby material’2 (23.9%). The most notable fall was recorded in section ‘Beverages and tobacco’ (14.8%).

Bulgarian imports from the EU in 2017 increased by 11.2% compared to the previous year and reached 37 794.7 Million BGN at CIF prices. The largest amounts were reported for the goods imported from Germany, Italy, Romania, Spain and Greece. In December 2017 the Bulgarian imports from the EU Member States grew by 7.0% in comparison with December 2016 and amounted to 3 280.7 Million BGN.

In 2017 compared to 2016 the largest growth in imports from the EU distributed according to the Standard International Trade Classification was reported in the section ‘Crude materials, inedible (except fuel)’2 (45.6%) while fall was observed only in the section ‘Animals and vegetable oils, fats and waxes’ (5.6%).

The foreign trade balance of Bulgaria (export FOB - import CIF) with the EU in 2017 was negative and added up to 3 276.0 Million BGN. At FOB/FOB prices (after elimination of transport and insurance costs on imports) the trade balance was also negative and amounted to 950.6 Million BGN.

 

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Tags: EU countries, import, export, finance, National Statistical Institute
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