Foreign Trade Deficit - July

The foreign trade deficit of Bulgaria for the first seven months of 2005 rose to 3,925 billion Leva (approximately 2 billion Euros). This calculates a rise of 39,4% against the same period of 2004. In all months from January to July the value of the import is higher than that of export. The main reason for the higher rate of increase of import is the high internal demand that cannot be satisfied by local manufacturers, National statistical Institute commented. The foreign trade deficit of Bulgaria for the first seven months of 2005 rose to 3,925 billion Leva (approximately 2 billion Euros). This calculates a rise of 39,4% against the same period of 2004. In all months from January to July the value of the import is higher than that of export. The main reason for the higher rate of increase of import is the high internal demand that cannot be satisfied by local manufacturers, National statistical Institute commented.