site.btaUPDATED Bulgarian Export Increases by 41.6%, Import by 45.3% in January-August, Y/Y

In January - August 2022, Bulgarian export increased by 41.6% and the import by 45.3%, year-on-year, the National Statistical Institute said Wednesday. According to snap statistics, the exports were worth BGN 62,164.8 million and the imports BGN 70,223.1 million (at CIF prices).

In August alone, the exports totalled BGN 7,873.8 million, growing by 40.5% from this time last year. At the same time the imports increased by 37.2% to reach BGN 8,578.7 million.

The January-August foreign trade showed a deficit of BGN 8,058.3 million. In August alone, the deficit was BGN 704.9 million.

Trade with the EU

The exports of goods from Bulgaria to the EU increased by 44.4% in January - July, year-on-year, and amounted to BGN 36,518.8 million. The import from the EU grew by 32.9% and reached BGN 33,948.0 million.

In July alone, exports to the EU increased by 43.2% from this time last year and amounted to BGN 5,484.2 million. During the same period, imports grew by 31.4% and totaled BGN 5,189.8 million.

Bulgaria exports to the EU more goods than it imports from the EU member states, and the foreign trade balance (export FOB - import CIF) showed a surplus of BGN 2,570.8 million in January - July.

Trade with third countries

In January-August 2022, trade with third countries increased by 35.8% from this time last year and was worth BGN 20,479.4 million. The key trading partner of Bulgaria during that time were Turkey, Serbia, Ukraine, the US, the Republic of North Macedonia, the UK and China, which accounted for 50.2% of trade with non-EU countries. In August alone, trade with this group of countries grew by 30.6% from the same month last year, reaching BGN 2,707.2 million.

The import from third countries in January-August 2022 increased by 63.1% from the same period of 2021, reaching a total of BGN 31,495.8 million (at CIF prices). In terms of value, the biggest imports were from Russia, Turkey, China and Ukraine. In August alone, third-country imports to Bulgaria increased by 36.8% from this time last year, to reach a total of BGN 3,799.4 million. 

The trade with third countries showed a deficit of BGN 11,016.4 million in January - August 2022 and of 1,092.2 million in August 2022.