Increase in Exports from Bulgaria by over 27% up until April

Business » INDUSTRY | June 13, 2022, Monday // 14:17
Bulgaria: Increase in Exports from Bulgaria by over 27% up until April @Pixabay

In the first four months of the year, Bulgaria's exports outside the European Union increased by 27.5% compared to the same period in 2021 and amounted to BGN 9.224 billion. Bulgaria's main trade partners are Turkey, Serbia, USA, North Macedonia, United Kingdom, China and Egypt, which account for 52.6% of exports to third countries.

As expected, part of the growth is due to higher production prices as a result of inflation. Data from the National Statistical Institute for April show an increase in production prices of 40%.

The largest growth was in the sectors "Mineral fuels, oils and related products" (198.3%) and "Fats, oils and waxes of animal and vegetable origin" (141.8%), and a decrease - in the sector "Goods classified mainly by type of the material" (14.4%).

Imports from January to April grew more - by 58.3% on an annual basis and amounted to BGN 14.385 billion. The largest is the value of goods imported from Russia, Turkey, China and Ukraine. Russia has traditionally held the leading position in data on imports due to natural gas, the supply of which, however, was suspended in late April.

During the four months, the highest growth of imports is again in the two sectors, where the highest growth is in exports - "Mineral fuels, oils and related products" (151.3%) and "Fats, oils and waxes of animal and vegetable origin "(138.7%). No decline was observed in any of the sectors.

Bulgaria's foreign trade balance with third countries in the period January - April 2022 was negative and amounted to BGN 5.160.3 billion.

In the period January - April 2022, a total of BGN 28.781 billion worth of goods were exported from Bulgaria (including the EU), which is 33.6% more than in the same period of 2021.

Imports for the four months totaled BGN 32.678 billion, or 40.5% more than in the same period of 2021.

The total foreign trade balance is negative and amounts to BGN 3.897 billion.

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