The negative effect for Bulgaria from the possible introduction of a 25% duty on exports of goods from the EU to the US will amount to about $678 million.
As a result, the country’s total exports will decrease by 0.49% on an annual basis compared to exports without customs restrictions. This was stated by the Deputy Minister of Economy and Industry Doncho Barbalov. He added that the state was ready to take the necessary measures to support Bulgarian exporters to compensate for the reduced cost of exports.
Only 35% of Bulgarian goods supplied to the US are items of direct final consumption. This is good for us, because the rest of Bulgarian exports are invested in the production of other goods and products. That is, they are necessary for the real production chain in the US, and it will be much more difficult to replace them when introducing restrictive duties, Barbalov explains. (Novinite)