Bulgaria’s 11-mo trade deficit widened to BGN 7.4bn

14.01.2022 Source: NSI; FFBH

According to preliminary data, foreign trade with third countries in November’21 resulted in a trade deficit of BGN 1.2bn (+113.3% YoY) compared to a deficit of BGN 577.2m a year earlier, as imports/CIF (BGN 3.0bn) grew 40% YoY, while exports/FOB (BGN 1.8bn) increased 12.9% YoY. Nov’21 exports to EU (BGN 4.4bn) jumped 32.7% YoY, while imports (BGN 4.5bn) grew 27.3% YoY over the same period. This resulted in a negative trade balance with EU for the month of BGN 124.4m, compared to a BGN 237.2m deficit in the corresponding period of 2020. Total trade balance in Nov’21 was negative and amounted to BGN 1.4bn (+66.5% YoY) as total exports increased by 26.3% to BGN 6.2bn, while total imports jumped 32% YoY and amounted to BGN 7.6bn. Total trade balance FOB/CIF for Jan-Nov 2021 came at negative BGN 7.4bn, increasing by 58.6% YoY from negative BGN 4.6bn in the comparable period of 2020. Total exports were up by 23.3% YoY to BGN 62bn while total imports grew 26.3% YoY to BGN 69.3bn.