Bulgaria Reports Negative Trade Balance With EU for 2016

Business | March 13, 2017, Monday // 12:33
Bulgaria: Bulgaria Reports Negative Trade Balance With EU for 2016 BGNES

In 2016, Bulgaria’s exports to the EU increased by 7.2%, compared to 2015 and reached BGN 31.153 B, showed data of the National Statistical Institute (NSI).

The main trading partners of Bulgaria were Germany, Italy, Romania, Greece and France, which accounted for 63.8% of the exports to EU member-states.

In December 2016 alone, exports to the EU increased by 12.8%, compared to the same month in 2015 and reached BGN 2.439 B.

The largest increase was registered in the sectors Soft drinks and tobacco (27.8%) and Chemical substances and products (21.9%). The greatest decrease was reported for the sector Mineral fuels, oils and similar products (13.8%).

Imports from the EU to Bulgaria increased by 2.4%, compared to the previous year and reached BGN 33.938 B. Goods with the highest value were imported from Germany, Italy, Romania, Greece and Poland.

In December 2016, imports from EU member-states to Bulgaria increased by 6.3%, compared to December 2015 and reached BGN 3.045 B.

The greatest percentage increase was reported for the sector Soft drinks and alcoholic beverages and tobacco. The largest decrease was registered in the sector Unprocessed materials, inedible products (fuels excluded) – 14.9%.

Bulgaria’s balance of trade with the EU for 2016 was negative, registering a deficit of BGN 2.785.

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Tags: balance of trade, EU, deficit, trade, imports, exports, NSI, soft drinks, tobacco
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