Bulgaria's Jan-May Exports to EU Up 49% Y/Y

Bulgaria's Jan-May Exports to EU Up 49% Y/Y

In the period January - May 2011 the Bulgarian exports to the EU increased by 48.7% compared to the corresponding period of the previous year and amounted to BGN 9.6 B.

The data was released by the National Statistics Institute, NSI, Tuesday.

The main trade partners of Bulgaria were Germany, Romania, Italy, Greece and Belgium, that formed 67.2 % of the total exports to the EU Member states.

The most significant growths were observed in the exports to Malta, Portugal, Denmark and Belgium. The most notable falls were registered in the exports to Slovakia.

In May 2011, the exports to the EU increased by 38.5% compared to the corresponding month of the previous year and exceeded BGN 2 B.

Bulgarian imports from the EU in the period January - May 2011 increased by 24.3% compared to the corresponding period of the previous year and amounted to BGN 10.1 B at CIF prices

The most significant growths were reported on the imports from Malta and Latvia. The largest decreases were observed in the imports from Finland and Portugal.

In May 2011, the Bulgarian imports from the EU Member States increased by 22.1% compared to the corresponding month of the previous year and amounted to BGN 2.3 B at CIF prices.

The foreign trade balance of Bulgaria (export FOB - import CIF) with EU in the period January - May 2011 was negative and amounted to BGN 532.5 M. At FOB/FOB prices (after elimination of transport and insurance costs on imports) the trade balance was also negative and amounted to BGN 13.4 M.

The exports of Bulgaria to the EU distributed according to the Standard International Trade

Classification, increased in all sections in the first fifth months of 2011, compared to the corresponding period of the previous year. The largest growths were recorded in the sectors "Crude materials, inedible (except fuels)," "Chemical and related products" and "Manufactured goods classified chiefly by material."

The largest growths on imports from the EU were reported in the sectors "Crude materials, inedible (except fuels)," "Animal and vegetable oils, fats and waxes," and the lowest - in the sector "Mineral fuels, lubricant and related materials. (Source: Sofia News Agency)

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