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.