Bulgaria’s 8-mo trade deficit widened to BGN 4.8bn

13.10.2021 Source: NSI; FFBH

According to preliminary data, foreign trade with third countries in August’21 resulted in a trade deficit of BGN 784.2m (+91.1% YoY) compared to a deficit on BGN 410.4m a year earlier, as imports/CIF (BGN 2.8bn) surged 56.2% YoY, while exports/FOB (BGN 2bn) grew 45.7% YoY. August’21 exports to the EU (BGN 3.5bn) jumped 26.5% YoY, while imports (BGN 3.5bn) grew 22.6% YoY over the same period. This resulted in a positive trade balance with the EU for the month of BGN 69m, compared to a BGN 31.1m deficit in the corresponding period of 2020. Total trade balance in August’21 was negative and amounted to BGN 715.2m (+62% YoY) as total exports increased by 32.8% to BGN 5.5bn, while total imports jumped 35.6% YoY and amounted to BGN 6.2bn. Total trade balance FOB/CIF for Jan-August 2021 came at negative BGN 4.8bn, increasing by 80% YoY from negative BGN 2.7bn in the comparable period of 2020. Total exports were up by 22.4% YoY to BGN 43.5bn while total imports grew 26.4% YoY to BGN 48.3bn.