Export growth eases down to 20%, trade declines

Bulgaria’s export growth has eased down to around 20%. In November, its pace was 19.1% on a monthly basis, the National Statistical Institute (NSI) reported today. A month earlier, exports registered a 23.6% increase, up from 19.4% in September, 20.9% in August and 20.7% in July. NSI’s data clearly showed a downward trend in export growth. In the first six months of 2011, it was growing by 40% while in January-November its growth was 30.6%. For the first 11 months of 2011, Bulgaria’s exports in absolute terms stood at BGN 36.2 bn, and at BGN 3.4 bn in November.

Imports for the first 11 months of last year amounted to BGN 41 bn or 20.6% up from the same period of 2010. Thus, our country’s foreign trade balance registered a deficit of BGN 4.822 bn for the period, BGN 1.47 bn less than in January-November 2010. After deducting transport and insurance costs on imports, the deficit in the foreign trade balance will be more than BGN 2.81 bn.

NSI reported a 5.3% decline in retail trade in November on an annual basis, excluding the sales of automobiles and motorcycles. The decrease was 0.6%, compared to October. The turnover in almost all sectors fell, an increase of 8.3% from November 2010 being registered by pharmaceutical and medical goods. Statistics about industry are not optimistic either. Industrial production decreased by 0.4% in November, compared to the previous month and year-on-year growth dropped to a mere 0.6%.

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