Bulgaria's Foreign Trade Turnover a Notch Below 70 Bln Leva in 2007

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Bulgaria's Foreign Trade Turnover a Notch Below 70 Bln Leva in 2007

Bulgaria's foreign trade turnover amounted to 69.1 bln leva in 2007, preliminary data of the National Statistical Institute (NSI) show. The figure marked a 15.9-percent year on year increase compared to 2006.

The exports of the country totaled 26.4 bln leva in 2007, while imports stood a 42.8 bln leva. Bulgaria's foreign trade deficit (exports FOB – imports CIF) came to 16.4 bln leva in 2007. The foreign trade balance shows a gap for each month of the last year. The highest deficit of over 1.8 bln leva was registered in the month of December (exports FOB – imports CIF). The figure stood at 1.6 bln leva at prices (FOB/FOB).

The European Union country members continue to be Bulgaria's major trade partners. The EU accounted for 59.3% of Bulgaria's trade turnover for 2007. Bulgaria's exports to the EU went up by 12.1% compared to 2006, while imports rose by 23.3%.

Bulgaria's major trade partners in 2007 were Germany, Italy and Greece. The three countries made for half of Bulgaria's imports and exports to and from the EU. Bulgaria's foreign trade balance with the EU shows a deficit with imports exceeding exports by over 9 bln leva. The trade gap with the EU went up by 49% in 2007 compared to 2006.

Bulgaria's trade turnover with third countries marked a 12.3% year on year increase in 2007.

Bulgaria's trade turnover with the Commonwealth of Independent States (CIS) marked in increase in 2007 compared to 2006. Exports went up by 83.9%, while imports rose by 6.9%. Nevertheless, Bulgaria's trade turnover balance with the CIS countries showed a 7 bln leva gap in 2007. Bulgaria's major partners are Russia and Ukraine. The two countries accounted for over 8 bln leva or 19.5% of Bulgaria's overall imports in 2007.

Bulgaria's exports to neighboring countries also marked an increase. Exports to Turkey and Romania went up by 11.3% and 30.3%, respectively. Exports to Macedonia grew by 9.2%, while to Serbia and Greece marked 29.6% and 13.8% increase, respectively.

Imports from Macedonia grew more than twofold. Imports from Greece and Serbia increased by 16.5% and 3.3%, respectively. Imports from Romania and Turkey rose by 19.9% and 32.4%, respectively. Bulgaria's trade balance with Turkey, Macedonia and Serbia showed a surplus in 2007, while the turnover balance with Greece and Romania showed a deficit.

Bulgaria's trade turnover with the members of the Organization for Economic Co-operation and Development (OECD) marked a 20.4-percent year on year increase in 2007.

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