Bulgaria: In January and February Exports increased by 34%, but the Balance was Negative

Business » FINANCE | April 13, 2022, Wednesday // 14:00
Bulgaria: Bulgaria: In January and February Exports increased by 34%, but the Balance was Negative Pixabay

Bulgaria's total foreign trade balance was negative in the first two months of the year and amounted to BGN 2.46 billion, according to the National Statistical Institute. The balance with third countries in the period January - February 2022 is also negative and amounts to BGN 2.51 billion. In February 2022, the foreign trade balance with third countries was also negative and amounted to BGN 1.02 billion.

Export

In the first two months of the year, the exports of goods from Bulgaria to third countries increased by 33.9% compared to the same period of 2021 and amounted to BGN 4.27 billion. Bulgaria's main trade partners are Turkey, Serbia, Egypt, China, the Republic of North Macedonia, the United States, and the United Kingdom, which account for 54.7% of exports to third countries.

In February 2022 the exports of goods from Bulgaria to third countries increased by 30.4% compared to the same month of the previous year and amounted to 2.27 Billion BGN.

In January and February in the exports of goods from Bulgaria to third countries, the highest growth compared to the same period of 2021 was recorded in the sectors “Mineral fuels, oils and related products" (247.6%) and “Fats, oils and waxes of animal and vegetable origin” (176.2%). A decrease was observed only in the “Food and Live Animals sector” (11.8%).

Import

Imports of goods to Bulgaria from third countries in the period January - February 2022 increased by 73.3% compared to the same period of 2021 and amounted to BGN 6.79 billion. The largest is the value of goods imported from the Russian Federation, Turkey, China and Ukraine.

In February 2022 the imports of goods to Bulgaria from third countries increased by 65.2% compared to the same month of the previous year and amounted to 3.30 Billion BGN.

In imports of goods from third countries in the period January - February 2022 the largest increase compared to the same period of 2021 was reported in the sectors “Mineral fuels, oils and related products” (206.9%) and “Fats, oils and waxes of animal and plant origin” (113.3%). No decline was observed in any of the sectors.

General trade in goods of Bulgaria with third countries and the EU

During the period January - February 2022, a total of BGN 12.86 billion worth of goods were exported from Bulgaria, which is 31% more than in the same period of 2021.

In February 2022 the total exports of goods amounted to 6.64 Billion BGN and increased by 31.3% compared to the same month of the previous year.

In the two months, goods worth BGN 15.33 billion were imported in the country, or 46.2% more than in the same period of 2021. In February 2022 the total imports of goods increased by 41.5% compared to the same month of the previous year and amounted to 7.69 Billion BGN.

In February 2022 the total foreign trade balance was also negative and amounted to BGN 1.04 billion.

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