BULGARIA'S EXPORTS INCREASE BY OVER 40%

For the first six months of the year, Bulgaria's exports amounted to BGN 18.8 bn. In June alone, the manufacturing sector exported goods worth BGN 3.1 bn. According to the preliminary data of the National Statistical Institute, Bulgarian exports increased by 40.3% on an annual basis, but the growth rate has been slowing down. After the January increase of 73% on an annual basis, followed two months of about 50% rise in exports, resulting in another two months of some 35% growth, which led to a growth of 12.7 % in June.

From January to May, Bulgaria's exports to the EU rose by 48.7% compared to the same period of the previous year and amounted to BGN 9.6 bn. Our main trading partners were Germany, Romania, Italy, Greece and Belgium. These countries constituted 67.2 % of our exports to the EU. The most significant growth was registered with respect to the exports to Malta, Portugal, Denmark and Belgium. There was a negative growth in terms of the goods exported to Slovakia. Only in May, the exports to the EU increased by 38.5% year-on-year and exceeded BGN 2 bn.

According to the statistical data on exports to the EU member states and to third countries, for the first six months of the year, there was a negative trade balance of BGN 2.250 bn. It improved by BGN 1.421 bn compared to the first half of 2010 when it stood at minus BGN 3.671 bn. At FOB / FOB prices (by eliminating transport and insurance costs), the trade balance was also negative and amounted to minus BGN 955 mln.

Over the first half-year, goods worth BGN 7.2 bn were exported to non-EU countries, which was a 35.5% increase against the same period of 2010. Meanwhile, Bulgaria imported goods worth BGN 9 bn from third countries or by 27.8 % more compared to the first six months of 2010.