BULGARIAN EXPORTS TO THIRD COUNTRIES 7.1% DOWN IN JAN – NOV 2014 Y/Y

In the period January – November 2014 Bulgarian exports to third countries decreased by 7.1% compared to the corresponding period of 2013 and amounted to BGN 14.9 billion, Bulgaria’s National Statistical Institute (NIS) announced.

Main trade partners of Bulgaria were Turkey, Singapore, the Russian Federation, China, Serbia, and Macedonia, which accounted for 53.4% of the exports to non-EU countries.

In November 2014 exports to third countries decreased by 7.3% compared to the corresponding month of the previous year and amounted to BGN 1.4 billion.

Bulgarian imports from third countries in the first eleven months of 2014 decreased by 4.0% compared to the corresponding period of 2013 and added up to BGN 18.1 billion (at CIF prices). The largest amounts were reported for the goods imported from the Russian Federation, Turkey, China, and Ukraine.

In November 2014 Bulgarian imports from third countries decreased by 15.1% compared to the corresponding month of the previous year and amounted to BGN 1.6 billion.

The foreign trade balance of Bulgaria (export FOB - import CIF) with third countries in the period January – November 2014 was negative and added up to BGN 3,161.9 million. The trade balance at FOB/FOB prices (after elimination of transport and insurance costs on imports) was also negative and amounted to BGN 2,307.7 million.

In November 2014 the foreign trade balance of Bulgaria (export FOB - import CIF) with third countries was negative and amounted to BGN 169.8 million.

In the first eleven months of 2014 compared to the corresponding period of 2013 in the exports of Bulgaria to third countries distributed according to the Standard International Trade Classification the largest growth was recorded in the section ‘Animals and vegetable oils, fats and waxes’ (28.3%). The most notable falls were reported in sections ‘Crude materials, inedible (except fuels)’ (28.7%) and ‘Mineral fuel, lubricants and related materials’ (13.0%).

In imports from third countries the largest growths were reported in sections ‘Miscellaneous manufactured articles’ (13.0%), ‘Machinery and transport equipment’ (12.9%) and ‘Manufactured goods classified chiefly by material’ (12.9%), while the most notable fall was observed in section ‘Mineral fuel, lubricants and related materials’ (16.0%).

Bulgarian trade with third countries and EU – total

In the period January – November 2014 the value of all exported goods from Bulgaria amounted to BGN 39.8 billion and compared to the corresponding period of 2013 the exports decreased by 1.6%.
In November 2014 the total exports added up to BGN 3.8 billion and decreased by 3.1% compared to the corresponding month of the previous year.

The total value of all the goods imported in the country in the period January – November 2014 amounted to BGN 46.7 billion (at CIF prices), or by 0.4% more than corresponding period of 2013.
In November 2014 the total imports decreased by 3.1% compared to the corresponding month of the previous year and added up to BGN 4.4 billion.

The total foreign trade balance (exports FOB - import CIF) was negative in the period January - November 2014 and amounted to BGN 6,913.0 million, which was BGN 827.8 million more than the balance in the first eleven months of 2013. At FOB/FOB prices (after elimination of transport and insurance costs on imports) in the period January – November 2014 the total foreign trade balance was also negative and amounted to BGN 4,874.6 million.

In November 2014 the total foreign trade balance (exports FOB - import CIF) was negative and added up to BGN 538.9 million. The trade balance at FOB/FOB prices was also negative and amounted to BGN 326.3 million.