Russia remains among Bulgaria's main Trading Partners

Business » INDUSTRY | May 12, 2023, Friday // 15:01
Bulgaria: Russia remains among Bulgaria's main Trading Partners

In the period January - March 2023, the export of goods from Bulgaria to third countries increased by 14.5% compared to the same period in 2022 and was worth BGN 8,160.9 million. Bulgaria's main trading partners are Turkey, the United Kingdom, the United States of America, Ukraine, China, Serbia and the Republic of North Macedonia, which form 55.3% of exports to third countries, according to NSI data.

Exports to Russia grew by 32.2%, while imports contracted by 49.2%. The data shows the effect of the suspension of natural gas exports to Bulgaria at the end of April 2022.

The largest growth compared to the same period of 2022 was noted in the sectors "Machines, equipment and vehicles" (78.5%) and "Food and live animals" (51.3%).

The biggest decline was observed in the sector "Fats, oils and waxes of animal and plant origin" (17.3%).

The import decreased by 1% compared to the same period of 2022 and was worth BGN 10,394.4 million. The largest value volume of goods was imported from Turkey, Russia, China and Serbia.

The largest increase compared to the period January - March 2022 was reported in the sectors:

"Non-alcoholic and alcoholic beverages and tobacco" (59.5%) and "Food and live animals" (42.8%). In March 2023, the total foreign trade balance was also negative and amounted to BGN 823.2 million.

The biggest decline was observed in the sector "Mineral fuels, oils and similar products" (26.9%).

Bulgaria's foreign trade balance with third countries in the period January - March 2023 is negative and is BGN 2.233 billion.

In the first quarter, a total of goods worth BGN 22.836 billion were exported from Bulgaria, which is 8.3% more compared to the same period of 2022. The total foreign trade balance is negative and is worth BGN 2,518.6 billion.

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Tags: trading, Russia, Bulgaria

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