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Bulgaria's Trade Deficit Shrinks in January-April 2010

Date: 17.06.2010

Bulgaria's export is going up, compared to last year

The export of Bulgarian companies in April has gone up by 36.7 % year-on-year, the Bulgarian National Bank announced Wednesday.

Thus, Bulgaria's April export reached EUR 1.14 B. At the same time, the country's import in the same month also increased but only by 12.6 % year-on-year, reaching a total of EUR 1.46 B.

In the first four months of 2010, Bulgaria's export went up by 18.9 year-on-year, reaching EUR 4.2 B, while the import decreased by 0.4 %, and amounts to EUR 5.1 B.

As a result, the Bulgarian trade deficit for the period January-April 2010 has shrunk to EUR 925.6 M, or 42.7 % less than the amount for the first four months of 2009.

This data appears as further evidence that the effects of the global economic crisis have helped Bulgaria improve its negative trade balance.

According to BNB data, in the first quarter of 2010, Bulgaria's export to the countries in Europe and Asia increased, while its export to the USA went down. It also shows an increase in the imports from the new EU members and the Balkan countries, and a decrease in the imports from Europe, the USA, and Asia.

Bulgaria's export amounted to EUR 920 M in January 2010, EUR 1.002 B in February, and EUR 1.120 B in March. The import was EUR 1.154 B, EUR 1.173 B, and EUR 1.505 B respectively.

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