Bulgaria's Export Up by 32% in August 2010 Y/Y

Bulgaria's export has again registered a substantial growth in August, 2010, on annual basis, data published Monday by the National Statistics Institute shows.

The export was up 32.2% compared to August, 2009, reaching BNG 2.8 B.

In August, Bulgaria has a surplus in its trade balance of BGN 51.4 M, but it has been negative in the first 8 months of the year by BGN 2.6 B.

The export of Bulgarian companies is growing with double digits since the beginning of the year, seen by experts as a certain sign the economy is no longer in recession.

In the first 8 months, the business has exported goods and services in the amount of BGN 19.1 B and has imported production in the amount of BGN 22 B.

In January-July, 2010, the export to the EU grew by 20.2% reaching BGN 10 B. In July 2010, the export to the EU was up 33.4% compared to the same month in 2009, reaching BGN 1.9 B

Bulgaria's major EU trading partners are again Italy, Germany, Greece, and Romania, which form about 62% of its export to the EU. In January - July, Bulgarian export to Italy went up by 33.1%; to Germany – by 22.9%; to Denmark – by 60%; to the Czech Republic – by 52%.

The greatest decline of Bulgarian export was with Portugal and Cyprus.

In January – August, 2010, Bulgaria's export to non-EU countries grew by 48.4% year-on-year, according to preliminary data of the National Statistical Institute.

Over 54% of the Bulgarian non-EU exports went to Turkey, Serbia, Russia, Macedonia, Singapore, the US, and the People's Republic of China.

In the first 8 months of 2010, Bulgaria's export to China grew by 254.8%, to Serbia – by 73%, to Turkey – by 65%, to Russia – by 54%, to Singapore – by 34%, to Macedonia – by 29%.

Peru, North Korea, India and Iran are other destinations to which Bulgaria's export registered substantial growth. The export to the United Arab Emirates, Indonesia, Kazakhstan and Egypt has registered a decline.