In January – March 2019, the total value of all goods exported from Bulgaria amounted to BGN 13,942.1 million, about 8.9 per cent more than the same months of 2018, the National Statistical Institute (NSI) said on May 13. In March 2019 alone, the total exports of goods from Bulgaria added up to BGN 4733.3 million, an increase of five per cent compared to March 2018, the NSI said. The total value of all the goods imported into Bulgaria in January – March 2019 was BGN 15,253.2 million (at CIF prices), or 3.5 per cent more than January – March 2018. In March 2019, the total imports of goods decreased by 0.1 per cent compared with March 2018 and added up to BGN 5113.4 million. The total foreign trade balance (exports FOB – import CIF) was negative in the period January – March 2019 and amounted to BGN 1311.1 million. At FOB/FOB prices (after elimination of transport and insurance costs on imports) in the period January – March 2019 the total foreign trade balance was also negative and added up to BGN 264.6 million. In March 2019 the total foreign trade balance (exports FOB – import CIF) was negative and added up to BGN 380.1 million.

In the first quarter of 2019, the number of residential buildings that began being built was 871, which is an increase by 20.5 per cent year on year, show data of the National Statistical Institute released on Friday. The number of dwellings in them stood at 4.481 and the gross building area was 625, 846 sq m, which is an increase by 7.8 per cent and 31.4 per cent, respectively. The number of administrative buildings that began being built in the first quarter of 2019 stood at 17 with a gross building area of 30,743 sq m, which is a decrease by 5.6 per cent in the number of buildings but an increase by 35.9 per cent in the gross building area. The number of other buildings that began being built was 644 with a gross building area of 573,305 sq m, which is an increase by 37.9 per cent and 33.7 per cent, respectively. The highest number of new buildings that began being built in the first quarter of 2019 was registered in the regions of: Plovdiv (153 residential and 101 other buildings), Bourgas (107 residential and 50 other buildings), Varna (119 residential and 22 other buildings), Sofia - capital (110 residential, 3 administrative and 23 other buildings), and Stara Zagora (70 residential, 3 administrative, and 53 other buildings).

ICGB, the project company developing the Gas Interconnector Greece-Bulgaria, has selected Greece's Corinth Pipeworks Industry to supply line pipes for the project under a EUR 58.2 million contract. The contract will have a one-year term, with first deliveries expected within four months of its signing. The public procurement procedure attracted offers from 11 candidates, three of which were invited to participate in the second phase - Corinth Pipeworks Industry, Turkey's Erciyas Celik Boru Sanayi and Bulgaria's Toplivo-2. The IGB pipeline, which has a total estimated cost of some EUR 220 million, will connect the Greek gas transmission system in the area of Komotini to the Bulgarian gas transmission system in the area of Stara Zagora. The project is being implemented by the joint venture company ICGB, in which state-owned Bulgarian Energy Holding (BEH) and Greece-registered IGI Poseidon hold equal stakes. Greek public gas corporation DEPA and Italian energy group Edison own 50% each of IGI Poseidon.

Bulgarian public gas supplier Bulgargaz plans to propose a 0.22% decrease in the wholesale price of natural gas, to be valid in the third quarter of 2019. According to the draft proposal, the price will fall by BGN 0.10 to BGN 45.07 per MWh, excluding VAT and excise duty. Bulgargaz will submit its final proposal for approval by the energy regulator on June 10. Bulgarian energy regulations require Bulgargaz to set the gas price quarterly, taking into account global oil prices and the lev/dollar exchange rate. The Energy and Water Regulatory Commission (EWRC) has the final say on proposed changes in the wholesale price, at which the state-owned company sells natural gas to end-suppliers and customers directly connected to its transmission network. Bulgaria currently imports almost all the natural gas it needs from Russia via a pipeline crossing Ukraine, Moldova and Romania.

The Belgian financial group KBC opened a Bulgarian branch of its SurfStudio@UBB и SurfStudio@DZI innovations lab, which already operates successfully in Belgium, Ireland, the Czech Republic, Slovakia and Hungary. SurfStudio aims to become a platform for sharing innovations and exchanging ideas with UBB, DZI and other companies in the Group. The laboratory expresses their philosophy of seeking and applying innovative practices not only in their core banking and insurance business but also in a wider range of innovations. The space is equipped with various advances in modern technology and wants to inspire employees to experiment with different solutions, seek optimal interaction with technological advances and apply innovation in their business. The first development of SurfStudio@DZI is a joint project between VIVACOM, DZI and Sirma Group Holding. It is a free mobile application for quick connection with emergency teams and the user's personal contacts.

The German company Volkswagen will not soon make a final decision on the location of its new plant in Eastern Europe, for which Bulgaria is also a candidate. "It was decided to proceed to specific talks on the planned new plant in Europe with the other potential candidates," the official press release said after a meeting of the supervisory and management board of the German concern. Such an obvious decision will not be taken in May, and probably this will be at the next Board meeting scheduled for October. Initially, it was expected that the final decision on the location would be taken by the end of March, and then it became clear that it was postponed.

Canada's Dundee Precious Metals said the adjusted net earnings from the operation of its Chelopech gold-copper mine in Bulgaria fell to USD 13.8 million in the first quarter of 2019 from USD 16.2 million in the same period of 2018. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) from the Chelopech mine declined to USD 22.9 million in the first three months of the year from USD 26.5 million in the comparable period of 2018. Gold-copper concentrate produced at Chelopech during the first quarter of 2019 decreased by an annual 13% to 23,370 tonnes, primarily due to lower copper grades. Pyrite concentrate produced during the review period was similar to the prior-year period, at 58,077 t. The Chelopech mine produced 43,000 ounces of gold and 8.0 million pounds of copper during January-March, down from 57,300 ounces of gold and 9.3 million pounds of copper in the like period of last year. DPM's 2019 budget envisages major drilling programs at Chelopech, consisting of 10,000 metres of underground drilling on the Southeast Breccia Pipe Zone and 7,000 metres of surface drilling at the Krasta prospect and other near-mine targets around Chelopech.

The European Union is finalizing a list of American goods to target with retaliatory tariffs in the event that U.S. President Donald Trump, who is expected to make a decision by May 18, imposes levies on car imports. “We are already preparing a list of possible items that would be on that list,” EU trade chief Cecilia Malmstrom said in a Bloomberg Television interview on Monday. “The moment this is official -- if this happens, I still hope it won’t -- then we would publish that list,” she said, adding that it would “happen quite rapidly.’ The U.S. and the EU reached a political accord in July to work toward a limited trade agreement, which would put on hold the threat of tariffs on EU cars. Those duties would be based on the same national-security grounds invoked for controversial American levies on foreign steel and aluminum. The EU will hit 20 billion euros ($22.5 billion) of U.S. goods if Trump follows through on the auto threat. U.S. tariffs on European cars and auto parts would mark a significant escalation of transatlantic tensions because the value of EU automotive exports to the American market is about 10 times greater than that of the bloc’s steel and aluminum exports combined.

During the seven months of the fiscal year 2019, which began on October 1, 2018, the US state budget deficit grew by 37.7% to $ 530.87 billion compared to $ 385.444 billion in the comparable period a year earlier, the country’s finance ministry reported. Since the beginning of the current fingod, budget revenues have grown by 1.8% to about $ 2.043 trillion, which is a record for a seven-month period. Including revenue from taxes on income of individuals increased by 2.5%. Customs fees almost doubled (to $ 39.9 billion from $ 21.8 billion) after increasing import duties. Meanwhile, corporate tax fees fell by 6.7%, reaching $ 112.7 billion. At the same time, costs rose by 7.6% and almost reached $ 2.574 trillion. The increase in the deficit in the current fingodu is partly due to the shift in the dates of a number of receipts and payments. Taking into account the calendar factor, it grew less significantly – by 23%. At the same time, a surplus was recorded in April 2019. The US state budget surplus last month amounted to $ 160.305 billion.

China announced plans to raise duties on some American imports starting June 1, defying a call from President Donald Trump to resist escalating a trade war that is sending stock futures tumbling and clouding the outlook for the global economy. Less than two hours after Trump tweeted a warning that “China should not retaliate -- will only get worse!” the Ministry of Finance in Beijing announced the measures on its website. The new rate of 25% will apply to 2,493 U.S. products, with other goods subject to duties ranging from 5% to 20%, it said. The salvo came in response to the U.S.’s decision last week to increase tariffs on $200 billion in Chinese imports to 25% from 10%. Trump on Monday accused China of backing out of a deal that was taking shape with U.S. officials, saying Beijing reneged on an agreement to enshrine a wide range of reforms in Chinese law.