Bulgaria with BGN 16,400 Mln Foreign Trade Deficit for 2007

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Bulgaria with BGN 16,400 Mln Foreign Trade Deficit for 2007

Bulgaria's foreign trade deficit (export FOB - import CIF) for the January-December 2007 period amounted to 16,400 million leva, according to preliminary data released by the National Statistical Institute on Monday. The deficit amounts to 14,400 million leva at FOB/FOB prices, BTA reported.

All months of 2007 registered a deficit in trade, the highest deficit being for December (1,800 million leva/exports FOB - imports CIF) and respectively 1,600 million leva at FOB/FOB prices.

Foreign trade for the same period amounted to 69,100 million leva - a 15.9 per cent rise year-on-year - with a preserved trend of annual growth.

Goods worth 26,400 million leva (a 12.2 per cent increase compared to 2006) were exported in 2007. Imports at CIF prices amounted to 42,800 million leva (an 18.4 per cent rise year-on-year), the value of imported goods exceeding the imported ones by 62.1 per cent.

More than half of the country's trade is with the EU - 59.3 per cent. More than 60 per cent of the goods exported by Bulgaria are intended for the Community while imported goods account for 58.5 per cent of the total import. Compared to 2006, exports to the EU have increased by 12.1 per cent and imports - by 23.2 per cent. Germany, Italy and Greece are Bulgaria's main trade partners from the EU. The National Statistical Institute reported a 49 per cent year-on-year increase foreign trade deficit with the EU (exceeding 9,000 million leva).

Compared to 2006 trade with third countries marked a 12.3 per cent increase. Trade with CIS countries are revealed a trend of growth, exports increasing by 83.9 per cent and imports - by 6.9 per cent, generating a trade deficit of 7,000 million leva.

Bulgaria's 2007 exports for neighboring countries increased in comparison to the previous year: by 11.3 per cent for Turkey, by 30.3 for Romania, 9.2 per cent for Macedonia, 29.6 per cent for Serbia, 13.8 per cent for Greece. Imports from Macedonia have increased more than twofold, by 16.5 percent - for Greece, by 3.3 per cent - for Serbia, by 19.9 per cent - for Romania and by 32.4 per cent - for Turkey.

Bulgaria's trade with OECD countries showed a trend to increase (by 20.4 per cent), the largest share of exports being with Turkey - 3,030 million leva and imports standing at 2,936 million leva.

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