Bulgaria's exports increase by 30% in 2011

In 2011, Bulgaria's exports to the European Union and other countries reached BGN 39.3 bn, announced the National Statistical Institute (NSI). Exports increased by 29.2% on an annual basis, maintaining a constant growth rate. In 2010, exports grew by 33%, compared to 2009.

In 2011, exported goods and services to non- EU countries amounted to over BGN 14.8 bn, recording an increase of 24.4%. Imports, on the other hand, increased by 19.2% and amounted to BGN 18.6 bn.

Last year, Bulgaria’s imports stood at BGN 45.1 bn or 20% more than the respective figure in 2010. The overall trade balance was negative and amounted to BGN 5.81 bn, or BGN 1.39 bn less than the reported amount for 2010. Bulgaria’s trade balance deficit with EU countries exceeded BGN 2 bn and it amounted to over BGN 3.8 bn with third countries.

Last year, most of the production was exported to Turkey, Russia, Serbia, the Republic of Macedonia, China, the Ukraine and the USA. Exports to South Africa, Canada, Egypt, Georgia and China increased substantially, compared to 2010. The largest decline was recorded in exports to Singapore, Syria, Peru and Vietnam. The largest imports came from Russia (over BGN 8 bn), Turkey (nearly BGN 2.2 bn), the Ukraine (more than BGN 1.8 bn) and China (BGN 1.3 bn). These four countries alone accounted for more than two-thirds of Bulgaria’s imports.

In December 2011, total exports to the EU and third countries reached BGN 3.1 bn, recording an increase of 13.5% over the same period last year. Total imports increased by 7.9%, on an annual basis to BGN 3.9 bn. In the last month of 2011, the total foreign trade balance was negative - down by BGN 822 mln.

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