Bulgaria's Export to EU Up by 17% in 2010 H1

Bulgaria's Export to EU Up by 17% in 2010 H1

Bulgaria's export to the other EU member states registered a substantial growth in the first half of 2010.

In January-June, it grew by 17.4% reaching BGN 8 B. At the same time, Bulgaria's import from the EU was BGN 9.9 B, an increase of 2.8%.

Thus, Bulgaria's trade deficit with the rest of the EU was BGN 1.9 B in the first half of 2010.

In June, the deficit was BGN 257.5 M as Bulgaria's export to the EU grew by 36.2% year-on-year reaching BGN 1.6 B, while its import increased by 9.5% amounting to about BGN 1.9 B.

Bulgaria's major EU trading partners are Germany, Italy, Greece, and Romania, which form about 62% of its export to the EU. In the first half of the year, Bulgarian export to Germany went up by 22.8%, and to Italy - by 28.7%; to Denmark - by 62%; to the Czech Republic - by 54%.

The greatest decline of Bulgarian export was in the bilateral with Portugal, Cyprus, and Malta.

Bulgaria's import from Portugal grew by 58%, and from Spain, Romania, and Malta - by 40%.

Bulgaria's export to the rest of the EU increased in almost all sectors in the first half of 2010; the largest growth was in the export of raw materials, machinery and equipment. Only the export of beverages and tobacco saw a decline.

Raw materials and fuels saw the greatest growth as far as Bulgaria's imports from the rest of the EU as concerned. The import of machinery and equipment saw the lowest increase.

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