Bulgaria's Sees 71.4% y/y Growth in EU Exports January 2011

Bulgaria's exports to the rest of the EU increased by 71,4% year on year in January 2011 reaching the amount of BGN 1,8 B.

The data was released by the National Statistics Institute Monday.

The country's main trade partners were Germany, Italy, Greece, Romania and France that formed 68.0% of the total exports to the EU Member states. The most significant growths were observed in the exports to Portugal, Luxembourg and Estonia. The most notable falls were registered in the exports to Latvia and Slovakia.

Bulgarian imports from the EU in January 2011 increased by 37.5% year on year and amounted to BGN 1.7 B at CIF prices. The most significant growths were reported on the imports from Portugal, Slovakia and Ireland. The largest decreases were observed in the imports from Czech Republic, Lithuania and Cyprus.

Bulgaria's foreign trade balance (export FOB - import CIF) with EU in January 2011 was positive

and amounted to BGN 89.6 M. On FOB/FOB prices (after elimination of transport and

insurance costs on imports) the trade balance was also positive and amounted to BGN 177.0 M.

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

Classification, increased in most of the sections in January 2011 compared to the corresponding month of the previous year. The largest growths were recorded in the sections "Crude materials, inedible (except fuel)" 1and "Mineral fuels, lubricant and related materials". A fall was observed only in exports of one section – „Beverages and tobacco".

The largest growths on imports from the EU were reported in sections "Crude materials, inedible (except fuel)" and „ Beverages and tobacco" and the lowest in section "Miscellaneous manufactured articles.