Bulgaria's Exports to Non-EU Countries Grow by 65.5% y/y Jan-Feb 2011

In the period January - February 2011, Bulgaria's exports to non-EU countries increased by 65.5% year on year and amounted to BGN 2.4 B.

The data was released by the National Statistics Institute Monday.

Bulgaria's main trade partners outside the EU in this period were Turkey, Russia, Serbia, The former Yugoslav Republic of Macedonia, South Africa and China, that formed 54.5% of the total exports to non-EU countries.

The exports to South Africa, India, Croatia and Turkey increased significantly. Falls were reported on the exports to Peru, Iran, Syria, United Arab Emirates, Egypt and Japan. In February 2011 the exports to non-EU countries increased by 56.6% compared to the corresponding month of the previous year and amounted to BGN 1.1 B.

Bulgaria's imports from non-EU countries in the first two months of 2011 increased by 49.6% compared to the corresponding period of the previous year and amounted to BGN 2.6 B (at CIF prices).

The most significant growths were reported on the imports from South Africa, United Arab Emirates, Kazakhstan, Albania, Singapore, Egypt and Ukraine. The largest decreases were observed in the imports from Canada and Peru.

In February 2011, Bulgaria's imports from third countries increased by 65.8% compared to the corresponding month of the previous year and amounted almost to BGN 1.3 B.

Bulgaria's foreign trade balance (export FOB - import CIF) with non-EU countries in the period January - February 2011 was negative and amounted to BGN 267.0 B. The trade balance at FOB /FOB prices (after elimination of transport and insurance costs on imports) was also negative and amounted to BGN 66.8 M.

In February 2011, the foreign trade balance of Bulgaria (export FOB - import CIF) with non-EU countries was negative and amounted to BGN 172.8 M