BULGARIA MARKS INCREASE IN EXPORTS IN 2015

Bulgarian exports had been on the increase for a third consecutive month in February of this year. Strong support for the sector has proven to be trade with EU member states.

According to the report by the National Statistical Institute, trade exchange with countries outside of the union has also shown a considerable improvement, while imports has also noted a rise for the first time since October of 2013.

Trade with Russia, as well as the three other biggest economies in the EU - Germany, France and Italy, as well as Balkan neighbors, Turkey, Romania and Greece have contributed to the increased economic activity registered in the beginning of 2015.

In February the exports have increased by 5,8% or by BGN 3,41 B on an annual basis. On the other hand, total imports have also marked a 8,1% increase, reaching as far as BGN 4,11 B. As a result, the deficit in the foreign trade has increased by 75% to BGN 699 M on a monthly basis.

EU foreign trade has been on the increase, marking a 7.7% upward shift on an annual basis, or BGN 2,16 B, showing a decrease as than the number indicated in February - 15,3%.

Meanwhile, exports form Bulgaria's European allies have increased by 6,5 % or by BGN 2,63 B following a zero shift in January.

Simultaneously, foreign trade with countries outside of the EU have been revived as both exports and imports mark an increase.

Both exports and imports have been on the rise on an annual basis, the former by 2,5%, i.e. BGN 1,26 B, and the latter by 11,2% or by BGN 2,63 B.