Bulgarian exports to Romania increased 40% in 2022

Bulgaria's exports to Romania increased by over 40% in the first ten months of last year, exceeding EUR 4 bln, according to the Bulgarian publication 24Chasa.

The trade figures were discussed during a meeting between the Bulgarian minister of economy and industry, Nikola Stoianov, and the Romanian ambassador to Bulgaria, Brândușa Predescu. "Trade rose to EUR 7.247 bln in the same period, exceeding our initial projections of EUR 7 bln for the entire year 2021," minister Stoianov emphasized, cited by G4Media.

Bulgarian companies are already leaders in certain areas of the Romanian market and have a significant share in insurance and lending in the country.

"Bulgarian investments in Romania are several times over the size of Romanian investments in Bulgaria, and this is a trend that I hope we can change through joint efforts," Stoianov added.

The two countries agreed to cooperate on several joint initiatives in 2023, aiming to stimulate trade and investments. Experts from the two countries' economic ministries are scheduled to meet in the second half of 2023 for consultations. They plan to intensify bilateral economic cooperation between Romania and Bulgaria.

Another topic of discussion was the cooperation between the statistical institutes of the two countries. The two institutions cooperate based on a signed memorandum, but there is a need for a more detailed review of the data, according to the Romanian side.

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