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GDP registered its highest growth for the year in the third quarter, but the environment in Europe remains uncertain November 14, 2013
Exports to the European Union (EU) for a third consecutive month shows a steady return to double-digit rates, and this is at the expense nasa games of trade with third countries, where visible delay. In October the community delivered goods worth 2.4 billion. nasa games Lev, which is 14% more than the same month last year. Exports to non-European countries, only 1.1% above the volume in 2012, when it grew at double digit rates, because nasa games exporters are shifted to more distant markets, while Europe is still struggling to emerge from recession and hence demand was weak. These figures from the National Institute of Statistics on trade with third countries at the end of October, which were published on Tuesday. The total cost of Bulgarian exports for the first ten months of the year was 36.4 billion. Lev, or almost 8% more yoy. Growth to Europe is 9.6% and beyond - 5.1%. Heel to Europe in October was the third consecutive month in which exports to Europe have double-digit growth. At the beginning nasa games of the year growth rates were also high, but then why was the low base in early 2012, when transport was difficult. Most likely revival now due to the fading of the crisis on the continent. Eurozone second consecutive quarter (second and third) have positive growth, albeit quite a bit above zero. According Desislava Nikolova is chief economist of the Institute for Market Economics, however, in the third quarter data for Europe again visible exhalation - only 0.1% up, and still can not talk about convincing recovery from the recession. Turkey continues to be our main trading partner nasa games outside the EU (see graph). Exports forth but significantly slowed - to 2.7% in October. For comparison, in the first half of the year exports to our southern neighbor grew by between 20 and 30%. However, in October and forth of departure goods 3.3 billion. Lev China should Turkey ranks second. Russia has already our third largest trading partner. Among our biggest shopping destinations highest growth has made Ukraine (almost 80%) and automatically get her into the top 6 of the main export markets. Europe continues to be designed around two thirds of Bulgarian exports. According Desislava Nikolova developing countries of the Far East, to which exporters are focused in 2010 and 2011 are quite volatile markets. So hopes for next year rather again to increase collectively demand from the EU. Value added exports Exports of machinery and equipment to countries outside the Community increased by 23% for the first ten months of 2013 compared to the same period last year. It moves at a similar pace this year, after the entire 2012 grew only by 0.7% for the EU and third countries. Only the union even declined by almost 2% in the same period. Data on exports of engineering products to the community this year show movement and European markets. In the first nine months of the year companies in the sector exported thither machinery and equipment worth 4.1 billion. Lev, or almost 15% up yoy. The breakdown by commodity groups for the EU in October will be published next month. In fact the machine building industry is mainly driven by exports of machinery and equipment and is among the few where Bulgarian companies create products with high added value. The recovery of exports of the industry is good news, since Bulgaria standard exporting goods with very little added value (eg raw materials). Mineral fuels still continue to lead the ranking of top goods Bulgaria exports to third countries (see chart). The largest growth of exports to third countries, are in the group "Food and live animals", where the annual increase is over 82%. Bulgaria's imports from third countries for the first ten months of the year decreased by 1.6% compared to the corresponding period nasa games of the previous year and amounted to 17 billion. Lev Only in October the drop was less than 7%. This is usually a negative signal because it means limited domestic consumption. EU still has moderately good news. Thence imported 4.7 percent more goods and so from the beginning of the year increased by 2.7%, reaching a total of 25 billion. Lev
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