Bulgaria's exports up by 2.8% year-on-year in the first half of 2012

Bulgaria's combined exports to EU and non-EU states reached BGN 19.4 bn for the first six months of 2012, which is a 2.8% rise compared to the same period of last year, according to data from the National Statistics Institute. Total value of imported goods stood at BGN 24.5 bn, or an increase of 12.9%. May saw Bulgaria's exports to EU member states rise by 5.15% year-on-year to BGN 2.1 bn. Between January and May Bulgarian companies sold the same volume of goods in cash terms within the union as the same period last year, BGN 9.6 bn. Bulgaria's main trading partners, Germany, Italy, Greece, Romania, France and Belgium, account for 71.4% of the country's exports to destinations within the EU. Exports to Germany have slumped by 7% since the start of the year, NSI data showed. Bulgaria exported BGN 1.74 bn worth of goods to Germany, and imported BGN 2.3 bn in German goods, or 13.7% more than a year ago. Exports to Italy rose 9% for the year to date to BGN 1.45 bn. Exports to Greece rose more than 14%, while imports from the neighboring country shrank by more than 10% during the first six months.

Bulgaria recorded negative trade balance of BGN 2.073 bn with the EU for the January-May period.

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