Bulgarian-Swiss Trade on the Rise

Bulgarian-Swiss Trade on the Rise

Sofia, July 17 (BTA) - Swiss imports from Bulgaria and Romania increased tenfold, while exports to the two countries tripled in the last ten years, the Swiss Federal Customs Administration said in an analysis on the occasion of the 10th anniversary of the two countries' accession to the EU. It was quoted by the Bulgarian Small and Medium Enterprises Promotion Agency.

In 2016, Bulgaria's exports to Switzerland totalled 261 million francs, and Swiss exports to Bulgaria were worth a record high 360 million francs.

Last year set a record for Swiss exports to Bulgaria and Romania, which accounted for 1 per cent of the country's total exports.

Between 2000 and 2006, Swiss imports from Bulgaria increased by an average of 18 per cent a year, compared to 15 per cent annual growth in imports from Romania and 5 per cent from the EU.

In the same period, Swiss exports to Bulgaria grew by 14 per cent a year, compared to a 22 per cent increase in exports to Romania and 6 per cent to the EU.

Bulgaria's exports to Switzerland are mostly textiles, clothes and shoes. In 2016, these exports topped 100 million francs and accounted for 41 per cent of Swiss imports from Bulgaria. Metals were the second largest group of Bulgarian exports to Switzerland.

Chemicals and pharmaceuticals account for nearly half of Swiss exports to Bulgaria and Romania.

Source: Sofia