Exports to EU up by BGN 2bn in one year
Turkey, Egypt, China and Serbia are Bulgaria’s main trade partners outside the bloc
17 March, 2017
In 2016 Bulgaria’s exports to EU Member States grew by more than BGN 2.1bn, or 7.2% compared with 2015, show preliminary data published by the National Statistical Institute (NSI).
Exports amounted to BGN 31.153bn, compared with BGN 29.049bn a year earlier. Exports saw their highest volume in October, a total of BGN 2.891bn, and their lowest in January - BGN 2.263bn. The third quarter was the strongest period of last year, when exported goods stood at BGN 8.353bn.
According to NSI, Bulgaria’s main trade partners are Germany, Italy, Romania, Greece and France, accounting for a combined 64% of exports to Member States. The Beverages and Tobacco category recorded the highest year-on-year growth in 2016, almost 28%, from BGN 288m in 2015 to BGN 368m last year. The second place is occupied by the Chemical and Related Products category with an increase of 22%. The most notable fall was recorded in section Mineral Fuel, Lubricants and Related Materials (13.8%).
NSI data shows imports to Bulgaria also growing. Bulgarian imports from the EU increased by 2.4% in 2016 compared with the previous year and reached BGN 33.938bn. The largest volumes of imported goods came from Germany, Italy, Romania, Greece and Poland. In 2016 the largest year-on-year growth in imports from the EU was reported in the section Beverages and Tobacco - a little over 9%.
The most notable fall (15%) was observed in Crude Materials, Inedible (except fuel), which includes raw hides, oilseeds and oil-bearing fruits, textile fibers and crude fertilizers.
Imports recorded their highest volume in November 2016 and their lowest in January, with BGN 3.099bn and BGN 2.268bn respectively.
Meanwhile, Bulgarian exports to third countries increased by 12.7% in the first month of this year compared with the same period of 2016. They stood at BGN 1.312bn, with Turkey, Egypt, China, Serbia and Macedonia emerging as leading partners.
The largest January growths were recorded in the Mineral Fuel, Lubricants and Related Materials category with 74%, and Animal and Vegetable Oils, Fats and Waxes with 24%.
Bulgarian imports from third countries in January 2017 increased by 31% year-on-year. The largest amounts of goods were imported from Russia, Turkey, China and Serbia.