Bulgaria's trade gap narrows 54% y/y to EUR 650mn at end-April

By bne IntelliNews June 10, 2013

Bulgaria’s foreign trade deficit narrowed 54% y/y to BGN 1,271mn (EUR 650mn) as of the end of April, preliminary data of the statistics office showed. The cumulative trade gap has been on a steady downward trend since the beginning of the year. It accounted for 1.6% of the full-year GDP projection as of end-April, down from 3.6% a year earlier.

The improvement came on the back of surging exports (up 15.2% y/y to BGN 14bn) which should help bolster Bulgaria's gross domestic product in the second quarter. Imports increased only slightly (up 2.3% y/y to BGN 15.3bn), in line with anticipations for modest domestic demand that will likely result in a smaller trade deficit this year.

The trade deficit with the EU decreased by 47% y/y to BGN 767mn mainly thanks to rise in exports to Germany and Greece. The balance of trade with non-EU states shrank 62% y/y to BGN 503mn.

Related Articles

Bulgaria’s opposition BSP files no-confidence motion against government

Bulgaria’s opposition Socialist Party (BSP) filed a no-confidence motion against ... more

Bulgarian parliament overturns president’s veto on corruption bill

The Bulgarian parliament has overturned a veto by President Rumen Radev on the controversial anti-corruption law that was adopted in December despite strong objections from the ... more

Bulgarian capital mulls car ban to tackle air pollution

The Sofia city authorities have announced plans for wide-reaching measures to curb high levels of air pollution in the capital.  Bulgaria has the highest levels of PM10 concentrations in ... more

Dismiss