Bulgaria’s Trade Deficit Shrinks by Nearly 31% in 2020

The deficit in Bulgaria’s foreign trade last year amounted to BGN 5.202 billion, according to preliminary data from the National Statistical Institute (NSI).

For comparison, in the period from January to December 2019 the foreign trade balance (exports FOB – imports CIF) was in the red by BGN 7.530 billion, which means that the decrease is nearly 31%.

In December alone, the balance was in the red by BGN 726.5 million. Trade for one year Last year, the exported Bulgarian goods were worth BGN 54.450 billion, which is 6.9% less than in 2019.

In December, exports amounted to BGN 4.432 billion and increased by 5.6% on an annual basis. Last year, goods worth BGN 59.652 billion (at CIF prices) were imported into the country, or 9.6% less on an annual basis. In December, imports decreased by 6.2% compared to a year earlier and amounted to BGN 5.158 billion.

Trade in goods of Bulgaria with third countries Last year,

Exports of goods from Bulgaria to third countries decreased by 11.3% compared to 2019 and amounted to BGN 18.686 billion, according to the NSI. Bulgaria’s main trade partners are Turkey, China, the United Kingdom, the United States, Serbia, the Republic of Northern Macedonia and the Russian Federation, which account for 55% of exports to third countries. In December, exports to third countries decreased by 1% compared to a year earlier and amounted to BGN 1.727 billion.

Trade with EU countries last year,

The NSI estimates that in the period January – November exports of goods from Bulgaria to the EU decreased by 5.4% compared to the same period in 2019 and amounted to BGN 33.059 billion. Bulgaria’s main trade partners are Germany, Romania, Italy, Greece, France and Belgium, which account for 70% of exports to EU member states.

In November, exports of Bulgarian goods to EU countries decreased by 3.2% on an annual basis and amounted to BGN 3.297 billion.

Imports of goods in the period January – November 2020 decreased by 10.1% compared to the same period in 2019 and amounted to BGN 33.360 billion (at CIF prices). The largest is the value of goods imported from Germany, Romania, Italy, Greece and the Netherlands. On an annual basis, imports from EU member states in November decreased by 2.6% and amounted to BGN 3.537 billion.