Poor 2018 for Bulgarian Exports, Close to BGN 8 Billion Negative Balance

Business | February 12, 2019, Tuesday // 13:56| Views: | Comments: 0
Bulgaria: Poor 2018 for Bulgarian Exports, Close to BGN 8 Billion Negative Balance Source: Pixabay

In 2018 Bulgaria were exported goods worth BGN 55 275.7 million, which is 1.2% more than in the previous year. In December alone, total exports amounted to BGN 4 154.7 million and decreased by 2.4% compared to the same month of the previous year, preliminary data from the National Statistical Institute show.

The country imported goods worth BGN 62,945.5 million last year, or 6.3% more than in 2017. In December, imports decreased by 8.6% compared to the same month of the previous year and amounted to BGN 4,881.1 million. The total foreign trade balance is negative in 2018 and is worth BGN 7 669.8 million. At FOB / FOB prices (after elimination of transport and insurance costs on goods import) the balance is also negative and amounts to BGN 3 256.3 million.

The export of goods from Bulgaria to non-EU countries in 2018 decreased by 12.5% ​​compared to the previous year and amounted to BGN 17 550.6 million. In December, exports of goods to third countries shrank by 14.6% on the same month of the previous year and amounted to BGN 1 488.6 million. Bulgaria's main trading partners are Turkey, China, Serbia, the United States, the former Yugoslav Republic of Macedonia and the Russian Federation, accounting for 52.6% of exports to third countries. Imports of goods from third countries in Bulgaria in 2018 increased by 7.4% compared to 2017 and amounted to BGN 23,012.3 million. In December, imports from third countries decreased by 11.3% compared to the same month of the previous year and amounted to BGN 1 822.0 million. The largest is the value of goods imported from the Russian Federation, Turkey, China and Serbia. The foreign trade balance of Bulgaria with third countries in 2018 is negative and amounts to BGN 5 461.7 million. At FOB / FOB prices (after elimination of transport and insurance costs on goods import) the balance is also negative and amounts to BGN 3 522.1 million.

In the period January - November 2018, exports of goods from Bulgaria to the EU increased by 9.5% compared to the same period in 2017 and amounted to BGN 35,059 million. The export of goods to the EU in November increased by 7% compared to the same month of the previous year and amounted to BGN 3 445.2 million, preliminary NSI data show. Bulgaria's main trading partners are Germany, Italy, Romania, Greece, France and Belgium, which account for 67.5% of exports to EU Member States. Imports of goods to Bulgaria from the EU during the period January - November 2018 increased by 6.8% compared to the same period in 2017 and amounted to BGN 36,874.1 million. The largest is the value of goods imported from Germany, Italy, Romania, Spain and Greece. In November, imports of goods into Bulgaria from the EU Member States decreased by 0.1% compared to the same month of the previous year and amounted to BGN 3 606.6 million. Bulgaria's foreign trade balance with the EU for the period January - November 2018 is negative and is worth BGN 1,815.1 million.

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