Investor Presentaiton slide image

Investor Presentaiton

Export and import dynamics Bulgaria's export performance has remained robust in the face of multiple global shocks Despite worsening economic conditions globally in 2022 in the face of the war in Ukraine, inflationary pressures and monetary tightening, Bulgaria has maintained strong export performance. Bulgaria's export of goods market share in global trade has been continuously increasing since the early 2000s. Real exports and imports of goods and services (annual change, %) 15.0 11.2 7.4 5.8 5.2 5.7 4.0 -4.3 1.7 10.7 11.6 -1.3 -7.0 -10.4 2017 2018 Real export growth 2019 2020 2021 2022 H1 2023 Real import growth Germany is Bulgaria's major export market (main exports include machinery and base metals products), followed by Romania and Italy. Source Eurostat, NSI, BNB Bulgaria's real exports of goods and services declined in the first half of 2023 largely specific events- namely, the prohibition on exports of oil and petroleum products produced from Russian crude oil to countries other than Ukraine (entering into effect from 5 February 2023), as well as to planned construction works in some of the largest enterprises in manufacturing and electricity generation sectors in Q2 2023. Export of goods global market share of Bulgaria (%) 0.20 0.18 0.15 0.14 0.11 0.07 Imports in H1 2023 have also weakened significantly due to lower import needs given the strong decline in H1 2023 of the accumulated over the past two years inventories, the high levels of natural gas in the country's storage facility and the one-off factors limiting exports of goods. 2000 Source AMECO 2005 2015 2010 Export of goods global market share 2020 15
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