Bulgaria's Trade Deficit With EU Down Significantly In 2020

Mohammad Ali (@ChaudhryMAli88) Published March 15, 2021 | 07:50 PM

SOFIA, (UrduPoint / Pakistan Point News - 15th Mar, 2021 ) :Bulgaria's trade deficit with the European Union (EU) has significantly decreased in 2020 year-on-year, preliminary data released by the country's National Statistical Institute (NSI) showed on Friday.

According to the NSI, Bulgaria's foreign trade balance with the EU in 2020 was negative and amounted to 719.1 million Bulgarian lev (BGN) (about 440 million U.S. Dollars), while in 2019 the deficit stood at 2.87 billion BGN.

Bulgarian exports to the EU in 2020 decreased by 4.

1 percent in comparison with 2019 and amounted to 35.837 billion BGN, the NSI said.

The country's main trading partners were Germany, Romania, Italy, Greece, France and Belgium, which together accounted for 70.2 percent of the exports to the EU member states, it said.

Meanwhile, Bulgaria's imports from the EU decreased by 9.2 percent year-on-year to 36.556 billion BGN, the NSI said, adding that the largest amounts were reported for the goods imported from Germany, Romania, Italy, Greece and the Netherlands.