Archive for October, 2010

Bulgaria 5th in Global Broadband Internet Quality

Bulgaria ranks fifth in the world in quality of broadband Internet, according to results of a research by Cisco Systems Inc, conducted by the Oxford University.

The first four places are taken by South Korea, Japan and Sweden, while countries like Finland, Romania and Denmark are placed after Bulgaria.

Among the cities, Sofia ranks 11th in quality of the Internet connection, followed by Lisbon, New York City, Hong Kong, Paris and Copenhagen.

“Having in mind the Internet speed, I would like to live in Sofia,” said Fernando Gil de Bernabe, senior director at Cisco.

The broadband quality ranking measured the proportion of households and businesses with access to broadband, combined with Internet-connection speed.

The quality was defined by taking into account the download speed, upload speed and the average latency.

Sofia residents download with an average speed of 14,7 Mb/s and upload with an average of 7 Mb/s, while the latency is 52 ms.

Bulgaria, however, has showed a slow progress in the distribution of Internet in the country. It ranks last among the 23 countries.

Most of the Eastern European countries have shown a tendency for high quality and low distribution among the population in comparison to the countries that have more developed economies.

“The quality of the Internet connection in Bulgaria is developed enough. The country needs to do more about the penetration of the connection among the population. In order for this to happen, there has to be political will and initiative,” Bernabe said.

According to the survey, Bulgaria occupies the 20th place for the ratio quality-distribution.

Bulgaria with 1st Monthly Trade Surplus since 2000

In August 2010, Bulgaria registered for the first time a positive monthly trade balance in the past ten years, according to preliminary data of the National Statistical Institute, which was released on Monday.

Bulgaria’s trade surplus in August was BGN 51.4 M. On annual basis, Bulgaria’s export was up 32.2% compared to August, 2009, reaching BNG 2.8 B.

Yet, it still unclear how long it will take Bulgaria to reverse its overall negative foreign trade balance as it was negative BGN 2.6 B in the first 8 months of the year by BGN 2.6 B.

The export of Bulgarian companies has been growing with double digits since the beginning of the year, seen by experts as a certain sign the economy is no longer in recession.

In the first 8 months, the business has exported goods and services in the amount of BGN 19.1 B and has imported production in the amount of BGN 21.8 B.

In January-July 2010, the export to the rest of the EU grew by 20.2% reaching BGN 10 B. Only in July 2010, Bulgaria’s export to the EU went up by 33.4% compared to the same month in 2009, reaching BGN 1.9 B.

Bulgaria’s import from the rest of the EU increased by 3.7%, year-on-year, and amounted to BGN 11.8 B.

Bulgaria’s major EU trading partners remain Italy, Germany, Greece, and Romania; they form about 62% of its export to the EU.

In January-July, Bulgarian exports to Italy went up by 33.1%; to Germany – by 22.9%; to Denmark – by 60%; to the Czech Republic – by 52%. The greatest decline of Bulgarian export was with Portugal and Cyprus.

In January – August, 2010, Bulgaria’s export to non-EU countries grew by 48.4% year-on-year, reaching BGN 7.5 B, according to preliminary data of the National Statistical Institute. Bulgaria’s imports from non-EU states grew by 10.2% up to BGN 9.7 B.

Over 54% of the Bulgarian non-EU exports went to Turkey, Serbia, Russia, Macedonia, Singapore, the USA, and the People’s Republic of China.

In the first 8 months of 2010, Bulgaria’s export to China grew by 254.8%, to Serbia – by 73%, to Turkey – by 65%, to Russia – by 54%, to Singapore – by 34%, to Macedonia – by 29%.

Peru, North Korea, India and Iran are other destinations to which Bulgaria’s export registered substantial growth. The export to the United Arab Emirates, Indonesia, Kazakhstan and Egypt has registered a decline.