Bulgaria's Exports to EU Decreased by 6.5% in First Half of the Year

Business | September 14, 2020, Monday // 14:17| Views: | Comments: 0
Bulgaria: Bulgaria's Exports to EU Decreased by 6.5% in First Half of the Year

Bulgaria's total exports and imports of goods to and from the European Union and third countries fell sharply for another month in August, according to preliminary data from the National Statistical Institute (NSI), which confirm the continuing negative impact of the coronavirus pandemic on international trade.

In July, the total Bulgarian exports decreased compared to a year earlier by 10.7% to BGN 4.7852 billion, while the total imports in our country decreased by 15.9% to BGN 5.0167 billion. The total foreign trade balance in July was negative and amounted to BGN 231.5 million compared to a deficit of BGN 610 million in July 2019.

For the first seven months of this year, Bulgaria's total exports decreased by 7.5% to BGN 31.1113 billion compared to the same period in 2019, while imports to our country also shrank by 12.8% to BGN 33.2495 billion. The total foreign trade balance between January and July was in deficit of BGN 2.1382 billion compared to a deficit of BGN 4.5076 billion a year earlier.

Exports of goods from Bulgaria to EU countries contracted in July by 6.5% compared to a year earlier to 3.2743 billion levs (after a decline of 15.6% in June), and to third countries decreased by 18.7% to BGN 1.5109 (after a decrease of 15.6% in April), while imports from the European Union decreased by 15.1% to BGN 3.1203 billion (after a decrease of 7.5% in June) ), and from third countries decreased by 17.3% to BGN 1.8964 billion (after a decrease of 6.5% a month earlier).

For the first seven months of the year, exports to the EU decreased by 6.5% to BGN 20.4449 billion compared to the same period in 2019, and to third countries - by 9.4% to BGN 10.6664 billion. At the same time, imports to Bulgaria in the period January-July from the EU decreased by 12.5% ​​to BGN 20.3935 billion, and from third countries decreased by 13.3% to BGN 12.856 billion.

Today's preliminary NSI data show that the coronavirus pandemic continues to have a negative impact on Bulgarian imports and exports in July, despite the easing of pandemic restrictive measures in our country, the EU and the rest of the world.

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Tags: import, export, Bulgaria, EU
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