Bulgaria’s foreign trade has been experiencing a decline since the start of the year, according to recent data from the National Statistical Institute.
In the first five months of the year, both exports and imports saw reductions. Exports fell by 6.2% compared to the same period in 2023, totaling 22.2 billion leva. Major export destinations within the EU included Germany, Romania, Italy, Greece and France, which together accounted for 62.6% of the country’s exports. The sector showing the most growth was “Mineral fuels, oils and similar products”, with a 45% increase, while the sector “Fats, oils and waxes of animal and vegetable origin” saw the most significant decline at 27.4%.
Imports also decreased by 4.9% over the same period, amounting to 23.2 billion leva. Germany, Romania, Italy, Greece and the Netherlands were the top sources of imports. The “Mineral fuels, oils and similar products” sector reported the largest increase in imports, rising by 64.6%, whereas the sector “Articles classified mainly according to the type of material” experienced the largest decrease at 16.4%.
Exports to third countries dropped by 6.4% until June, reaching 14.5 billion leva. Key trading partners included Turkey, the USA, Serbia, North Macedonia, China, the United Kingdom and Egypt, which comprised 52% of these exports. The “Chemical substances and products” sector saw the highest growth, increasing by 10.1%, while the “Fats, oils, and waxes of animal and vegetable origin” sector experienced a notable decline of 30.7%.
Imports from third countries rose by 5.7%, totaling 19.941 billion leva. The highest value of goods was imported from Turkey, China, Egypt and Ukraine. The sector with the most significant import growth was “Fats, oils and waxes of animal and vegetable origin,” which saw a 35.1% increase, while the “Machines, equipment and vehicles” sector experienced the largest decrease at 9.5%. (Novinite)