Bulgaria's Exports to EU See 4.6% Drop Y/Y Q1 2012

Bulgaria's exports to other EU countries decreased by 4.6% year on year in the first quarter of 2012, amounting to BGN 5,4 B (approximately EUR 2,8 B), according to preliminary data.

The country's main trade partners in that period were Germany, Italy, Romania, Greece and France, forming 66.7% of its total exports to the EU member states, Bulgaria's National Statistical Institute says.

The most significant growths were observed in Bulgaria's exports to Cyprus and Portugal, while the most notable falls were registered in its exports to Luxembourg and Belgium.

In March, Bulgaria's exports to the rest of the EU increased by 1.8% compared to the corresponding month of the previous year and exceeded BGN 2.0 B.

Bulgaria's imports from other EU countries increased by 8.9% year on year in the first quarter of 2012, exceeding BGN 6.6 B. The most significant growths were reported in Bulgaria's imports from Cyprus, Estonia, Netherlands and Portugal, while the largest decreases were seen in imports from Malta and Finland.

In March 2012, Bulgaria's imports from the EU grew by 12.1% compared to the corresponding month of the previous year, exceeding BGN 2.5 B at CIF prices.