Trade Relations with Italy, Russia, and Greece
This article reviews Bulgaria’s trade relations with Italy, Russia, and Greece during three five-year periods: 1890–1894, 1895–1899, and 1900–1904. The focus is on imports, exports, total trade, and the balance of trade, along with the main goods exchanged with each country.
Trade Between Bulgaria and Italy
Imports and Exports
Trade between Bulgaria and Italy grew steadily over the fifteen-year period. Imports from Italy increased from 1.8 million francs in the first period to 2.7 million francs in the second period. During 1900–1904, imports rose sharply to 5.3 million francs, reaching their highest level Private Istanbul Tour.
Exports from Bulgaria to Italy were lower than imports in all periods. They declined slightly in the second period but increased again in the third period, reaching nearly 3 million francs.
Total Trade and Balance
Total trade between the two countries expanded strongly. It rose from 3.5 million francs in the first period to over 8.3 million francs during the last period.
The balance of trade remained in favor of Italy throughout all three periods. Bulgaria imported more from Italy than it exported. The trade deficit increased from 0.2 million francs in the first period to 1.3 million francs in the second period, and reached 2.4 million francs during the last period.
Main Articles Traded
Imports from Italy included textiles, colonial goods, leather and leather products, and metal goods.
Exports to Italy mainly consisted of silkworm cocoons, wheat, maize, rye, and oats.
Trade Between Bulgaria and Russia
Imports and Exports
Imports from Russia into Bulgaria were high compared with exports. They amounted to 4.4 million francs in the first period, declined in the second period, and rose again to 4.1 million francs during the last period.
Exports from Bulgaria to Russia were very limited. They increased gradually from 42,000 francs in the first period to about 204,000 francs in the third period.
Total Trade and Balance
Total trade was highest during the first period, at 4.4 million francs. Although exports grew slightly over time, the balance of trade remained strongly in favor of imports throughout all periods.
The trade deficit reached 4.3 million francs in the first period, 3.3 million francs in the second, and 3.9 million francs in the last period. This shows Bulgaria’s heavy dependence on Russian goods.
Main Articles Traded
Imports from Russia included resins, mineral oils such as petroleum and naphtha, colonial goods, leather products, and metals.
Exports to Russia consisted mainly of attar of roses.
Trade Between Bulgaria and Greece
Imports and Exports
Trade with Greece showed strong growth, especially in exports. Imports from Greece were small, rising from 195,000 francs in the first period to 474,000 francs in the second, then declining slightly in the last period.
Exports from Bulgaria to Greece increased greatly. They grew from 399,000 francs in the first period to 870,000 francs in the second. During 1900–1904, exports rose sharply to more than 3.4 million francs.
Balance of Trade
The balance of trade was clearly in favor of Bulgaria in all three periods. The export surplus increased steadily and reached over 3.1 million francs during the last period.
In conclusion, Bulgaria’s trade with Italy and Russia was dominated by imports, while trade with Greece strongly favored Bulgarian exports. These patterns reflect Bulgaria’s agricultural export strength and its dependence on foreign industrial and energy products.