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Textile imports up 7.5% in 2006

16
Apr '07
Macroeconomic situation in 2006 was largely influenced by Bulgaria's forthcoming accession to the European Union as of January 1, 2007.

According to preliminary data of the Bulgarian National Bank compared to the previous year the 2006, GDP rose with 6.3 percent, exports (FOB) with 26 percent, FDI with about 32 percent reaching Euro4.1 billion, thus covering the deficit of Balance of payments' current account.

In 2006 a new phenomenon was observed – higher rate of increase of national exports than the registered increase in imports. Again as in previous years, industrial output (textile and clothing sectors included) with a 9.8 percent increase has boosted the growth rate of the overall gross value added.

Expectations for business climate development were positive during the whole 2006 as well as in the beginning of 2007 (record levels of 8.05 points of the ESTAT index in January 2007 according to the Centre for Economic Development).

The new corporate tax rate of 10 percent as of January 1, 2007 is a major signal for further up streaming development.

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Fibre2fashion News Desk - Turkey


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