Bulgaria’s Total Exports Up 40.8% in January-October 2022, Y/Y

Jerusalem, 13 December, 2022 (TPS) -- In January-September 2022, exports of goods from Bulgaria to the rest of the EU increased by 43.9% compared to the same period of 2021 and added up to BGN 47.166 billion, National Statistical Institute (NSI) reported on Tuesday.

The country’s main trading partners in this group were Germany, Romania, Italy, Greece, France and Spain, which accounted for 66.7% of exports to EU Member States.

Compared to the same period of last year, the largest growth in Bulgarian exports to EU countries was registered in mineral fuel, lubricants and related materials’ (263.9%) and in animal and vegetable oils, fats and waxes’ (163.4%). The worst decline (11.5%) was shown by the export of beverages and tobacco.

In January-September 2022, Bulgaria imported BGN 44.065 billion worth of goods from the rest of the EU (at CIF prices), up 32.8% period, year on year. In value terms, the largest imports reported came from Germany,
Romania, Greece, Italy and the Netherlands.

Animal and vegetable oils, fats and waxes showed the largest growth among imports to Bulgaria from EU Member States: 139.3%.

Bulgaria’s trade with the rest of the EU (export FOB – import CIF) in January-September 2022 in the January-September 2022 was in a BGN 3.099 billion surplus.

Trade with Third Countries

In January-October 2022, the export of goods from Bulgaria to third countries increased by 37.0% from the same period of 2021 and added up to BGN 26.2 billion.

The country’s main trading partners in this group were Turkey, Serbia, Ukraine, the US, North Macedonia, the UK and China, which accounted for 51.5% of the exports to non-EU countries

Compared to the ten-month period of 2021, two commodity groups showed the most tangible growth in Bulgaria’s exports to third countries: mineral fuel, lubricants and related materials (228.2%) and animal and vegetable oils, fats and waxes (138.8%). The export of manufactured goods classified chiefly by material declined the most, by 5.4%.

Imports of goods to Bulgaria from third countries in the January-October 2022 period increased by 66.6% compared to the same period of 2021 and amounted to added up to BGN 40.82 billion (at CIF prices). In value terms, the largest amount of imports originated from Russia, Turkey, China and Ukraine.

Animal and vegetable oils, fats and waxes (478.9%) and mineral fuel, lubricants and related materials (146.7%) recorded the largest growth in imports from third countries compared to January-October 2021.

Bulgaria’s foreign trade (exports FOB – imports CIF) with third countries in the January-October 2022 was in a BGN 14.622 billion deficit.

Total Foreign Trade

Bulgaria’s goods exports to the rest of the world in January-October 2022 amounted BGN 79.004 billion, which was 40.8% more than in the same period of 2021.

BGN 8.255 billion worth of goods were exported in October 2022 alone, ip 34%, year on year.

The total value of goods imported into Bulgaria from the rest of the world in January-October 2022 totaled BGN 90.204 billion (at CIF prices), which marked a 45.9% increase from the same period of 2021

The total foreign trade in January-October 2022 was in a BGN 11.2 billion deficit.