Financial and business news from Bulgaria

First increase in imports by year

It reached £5.4bn in February.
In February, for the first time in a year, there was an increase in imports in Bulgaria. It is up 2.6 per cent year-over-year and stands at £5.4bn.

Imports, whose increase indirectly indicates some increase in consumption in the country, declined throughout last year, with the biggest drop - nearly 30%, being in April and May. However, the current growth also speaks of economic revival, as among the goods that saw the largest growth in imports - from 741 last February to 801 million BGN now, are machines and equipment.

In February there is also an increase in exports - the annual growth is 2.8%, with BGN 4.8 billion in total to EU countries and third countries. Export growth, and bigger, however, there was also in December, followed by a decline for January.

Increased exports mainly of raw materials, but also machinery and equipment, as exports of food, alcohol and tobacco products continue to decline.

Outside the EU, the main countries to which Bulgarian exports are Turkey and China. From the same countries plus Russia is also the largest imports in Bulgaria, and for the Russian Federation it consists exclusively of energy products and raw materials, with imports of which there is a little over 28% decline in February.


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