Bulgarians Join Balkan Protest Against Soaring Food Prices
Bulgaria has joined Croatia, Bosnia and Herzegovina, and Montenegro in organizing protests against rising food prices
Bulgaria’s foreign trade has been experiencing a decline since the start of the year, according to recent data from the National Statistical Institute.
For the first five months of the year, both exports and imports saw reductions. Exports fell by 6.2% compared to the same period in 2023, totaling 22.2 billion leva. Major export destinations within the EU included Germany, Romania, Italy, Greece, and France, which together accounted for 62.6% of the country's exports. The sector showing the most growth was "Mineral fuels, oils, and similar products," with a 45.0% increase, while the sector "Fats, oils, and waxes of animal and vegetable origin" saw the most significant decline at 27.4%.
Imports also decreased by 4.9% over the same period, amounting to 23.2 billion leva. Germany, Romania, Italy, Greece, and the Netherlands were the top sources of imports. The "Mineral fuels, oils, and similar products" sector reported the largest increase in imports, rising by 64.6%, whereas the sector "Articles classified mainly according to the type of material" experienced the largest decrease at 16.4%.
Exports to third countries dropped by 6.4% until June, reaching 14.5 billion leva. Key trading partners included Turkey, the USA, Serbia, North Macedonia, China, the United Kingdom, and Egypt, which comprised 52% of these exports. The "Chemical substances and products" sector saw the highest growth, increasing by 10.1%, while the "Fats, oils, and waxes of animal and vegetable origin" sector experienced a notable decline of 30.7%.
Imports from third countries rose by 5.7%, totaling 19.941 billion leva. The highest value of goods was imported from Turkey, China, Egypt, and Ukraine. The sector with the most significant import growth was "Fats, oils, and waxes of animal and vegetable origin," which saw a 35.1% increase, while the "Machines, equipment, and vehicles" sector experienced the largest decrease at 9.5%.
In 2024, labor inspectors in Bulgaria carried out a total of 6,682 inspections in the construction sector, representing 13% of the overall 49,858 inspections conducted across all industries
According to a study presented to MPs by Prof. Emilia Chengelova, from the Institute of Philosophy and Sociology at the Bulgarian Academy of Sciences, the shadow (grey/informal) economy in Bulgaria remains high at 33%
A recent survey by digital payments company Visa reveals that most Bulgarians planning a winter vacation prefer to pay digitally at ski resorts
the last quarter of 2024, the proportion of properties purchased with mortgage loans in Bulgaria grew to 27%, or roughly every third property
Bulgaria's labor market remained stagnant throughout 2024
Retail sales across the European Union showed a decline in December, with both the eurozone and the EU reporting decreases
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