China’s trade with Bulgaria up 5.1% in 2019

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Trade balance between China and Bulgaria

BEIJING — China’s trade with Bulgaria grew by 5.1 percent year-on-year in 2019 to $2.72 billion, said an official with the Ministry of Commerce on Jan 16. Compare with data from China National Bureau of Statistics the import from Bulgaria grow only 1.5% this mean negative trade balance is becoming bigger and it will be more then 4 billion for 2019, second largest Bulgaria have after the negative one with Russia.

Since the establishment of the China-Central and Eastern European Countries cooperation mechanism in 2012, China and Bulgaria have made positive progress in cooperation in trade, investment, agriculture, infrastructure and other fields, said Yu Jianhua, vice-commerce minister and deputy China international trade representative, at the China-Bulgaria Business Forum.

So far, China’s investment in the country has amounted to $740 million. This is for the period of 20 years which is around 37 million per year.

China is willing to work with Bulgaria to tap the huge potential of the Belt and Road and advance bilateral economic and trade cooperation to a higher level, Yu said.