Bulgarian Exports Through Danube Border Cut By Over Half

Another piece of evidence, as if we needed it, to show that recession is biting hard in Bulgaria. I know businesses in Yambol that have exports, which travel the across the Danube River route and they have either been cut or dropped off totally with things as they are. Very hard to take considering many companies rely on exports with the cheap labour costs they have here. But even with the benefit of that making them more competitive than many other western countries, orders from abroad are just not happening.

Exports through Bulgaria’s ports along the Danube river ports fell by 55% during the first half of 2009 compared to the same period of the previous year, data released by the Regional Customs Agency in Ruse revealed Sunday.

The total value of Bulgarian goods exported through the Danube ports of Ruse, Vidin, Lom, Svishtov, and Silistra during the January-July period of 2009 was EUR202 million. The fall is most severe in Svishtov, where exports have declined from EUR170 million to EUR65 million.

Imports through the Danube customs also see a severe fall – 24% less. While their value was EUR425 million in the first six months of 2008, now since the beginning of 2009 they have fallen to EUR325 million.

Source: www.bgnewsnet.com