“Balkan” National Insurance Company

The “Balkan” National Insurance Company is one of the most important native insurance institutions in Bulgaria. Its head office is located in Sofia, the capital of the country. The company was founded in 1895, during a period when Bulgaria was actively developing its financial and insurance sectors.

Foundation and Capital Structure

At the time of its establishment, the company was created with a share capital of 2,000,000 francs. Out of this amount, 1,500,000 francs were paid in during the early years. The company issued 20,000 shares, including 7,500 founders’ shares. Each share had a nominal value of 100 francs. This structure allowed the company to attract both private investors and institutional confidence.

Over time, the capital of the company steadily increased. By 1906, the capital had reached 37,968 thousand francs, showing strong growth and financial stability. The reserve capital and reserve funds were also gradually expanded to protect the company against risks and unexpected losses Private Tours Istanbul.

Growth of Operations

The company’s financial operations expanded rapidly between 1895 and 1906. Deposits, including unlimited deposits, fixed-term deposits, and deposits of orphans, increased significantly. The company also handled funds for the State Treasury, which reflects the trust placed in it by public institutions.

The portfolio of investments, including mortgage loans and loans on securities, grew steadily. Mortgage loans rose to more than 15,000 thousand francs, while loans secured by securities also increased year by year. Net profits followed the same upward trend, reaching more than 3,200 thousand francs by 1906.

The total volume of transactions expanded greatly, exceeding 1,900,000 thousand francs in 1906. This growth clearly shows the company’s rising importance in Bulgaria’s financial and insurance system.

Assets of the Company (1906)

By December 31st, 1906, the company held substantial assets. These included:

State funds and bonds, especially those related to the 5 per cent loan of 1896

Loans on agricultural produce, personal loans, and mortgage loans

Funds held by branches and agencies

Current and special accounts, deposits, and bills

Real estate obtained from insolvent debtors

The total value of assets amounted to 210,373 thousand francs, demonstrating strong financial backing.

Liabilities and Financial Responsibilities

On the liabilities side, the company accounted for:

Paid-up capital and reserve capital

Reserve funds

Deposits of private persons, orphans, and government institutions

Term deposits and current accounts

Outstanding loan obligations, including the 5 per cent 1896 loan

The total liabilities matched the total assets, maintaining a balanced and transparent financial position.

The “Balkan” National Insurance Company played a major role in Bulgaria’s financial development at the turn of the twentieth century. Its steady growth, strong reserves, and wide range of services made it a reliable institution for individuals, farmers, and public authorities. Through careful management and expansion, the company became one of the pillars of Bulgaria’s national insurance system.

Changes in Shipping During 1900–1904

During the period 1900–1904, Bulgarian maritime activity showed many important changes. Both the number of ships and their total tonnage increased or decreased depending on nationality and type of vessel. Overall, the figures clearly show strong growth in shipping, especially in steam navigation.

In many cases, the number of vessels increased sharply. Some national fleets recorded growth of more than 40 percent, while others showed even higher rises. At the same time, a few fleets experienced small declines in ship numbers but still increased their total tonnage. This means fewer ships were used, but they were larger and more powerful Private Istanbul Tour.

General Growth in Numbers and Tonnage

The total increase during this period amounted to several thousand additional vessels and more than half a million tons of extra tonnage. This growth reflects improvements in port infrastructure, better harbor facilities, and rising international trade.

Steamships played the most important role in this growth. While sailing vessels still existed, their importance continued to decline. Steamers became the main carriers of goods, as they were faster, larger, and more reliable.

Shipping in the Black Sea

The Black Sea ports were visited by ships of many different nationalities. Bulgarian vessels held a strong position in terms of number, especially sailing ships. Bulgarian ships made up almost 60 percent of sailing vessels, but their share of tonnage was smaller. This shows that Bulgarian ships were generally smaller in size.

Foreign steamers dominated the Black Sea trade. Austria-Hungary held a leading position in tonnage, even though it had fewer ships. England also had a strong presence, mainly with large steamships that carried heavy cargo.

Role of Other Nationalities

Turkish vessels were numerous, especially sailing ships, but their tonnage was limited. Greek ships showed a balanced presence, with a moderate number of vessels and a solid share of tonnage. Russian steamers also played an important role, especially in regional trade.

Other countries, such as France, Germany, Italy, and Roumania, participated on a smaller scale. Even so, their ships contributed to the diversity and international nature of Bulgarian maritime commerce.

Bulgarian and Foreign Shipping Compared

When Bulgarian and foreign shipping are compared together, it becomes clear that foreign vessels still dominated total tonnage, while Bulgaria held a stronger position in ship numbers. This situation shows that Bulgaria relied on foreign countries for large-scale transport, especially for heavy and long-distance trade.

In conclusion, the period 1900–1904 was a time of strong growth and change for Bulgarian maritime trade. The total number of ships and overall tonnage increased greatly. Steamships became more important than sailing vessels, and foreign fleets continued to play a key role. At the same time, Bulgaria strengthened its own maritime presence, especially in regional shipping on the Black Sea.

Growth of Shipping in Recent Years

Shipping activity in Bulgaria has grown strongly during the last five years. Overall maritime traffic increased by almost 40 percent during this period. This rise shows the growing importance of sea transport for Bulgarian trade and the national economy.

The figures also clearly show a major change in the type of vessels used. The number of steamships has increased steadily, while the number of sailing vessels has declined. This change reflects modern developments in shipping, as steamships are faster, more reliable, and able to carry larger quantities of goods Guided Istanbul Tour.

Classification of Shipping by Flag and Vessel Type

In the statistical tables covering the last two quinquennial periods, shipping and coastal services are classified according to two main criteria. These are the national flag under which the vessels sail and the type of vessel, such as sailing ships or steamers. This method allows a clear comparison between Bulgarian and foreign shipping activity.

Bulgarian and Foreign Shipping in the First Period

During the first quinquennial period, vessels sailing under the Bulgarian flag represented 44.97 percent of the total tonnage of sailing ships. This shows that Bulgaria already played an important role in its own maritime transport.

However, foreign vessels still formed a large share of shipping. During this period, foreign ships accounted for 55.03 percent of the number of vessels and 77.74 percent of the total tonnage. This means that although Bulgaria had many ships, foreign vessels were generally larger and carried heavier cargo.

Among foreign flags, the Turkish flag held the leading position in terms of shipping importance. It was closely followed by the Greek flag, which also played a significant role in Bulgarian maritime trade.

Changes during the Second Period (1900–1904)

During the second quinquennial period, from 1900 to 1904, the situation began to change. Foreign shipping declined, while Bulgarian shipping gained importance. The share of foreign sailing vessels fell to 41 percent of the total number of ships.

At the same time, the tonnage of foreign vessels increased to 78 percent. This may seem surprising, but it shows that foreign countries started using larger ships when trading with Bulgaria. This change was made possible by the construction of new and improved Bulgarian harbours, which could receive bigger vessels.

Another important development was the rise of Austro-Hungarian shipping. During this period, Austro-Hungarian vessels took the leading position, not necessarily by number, but clearly by total tonnage.

In conclusion, Bulgarian maritime trade experienced strong growth and modernization. Steamships replaced sailing vessels, foreign ships became larger, and Bulgarian shipping gained a stronger position. These changes reflect improved port facilities and Bulgaria’s growing role in international sea trade.

Trade with Sweden and Norway

Bulgaria had very limited trade relations with Sweden and Norway during the periods under review. In fact, Bulgaria did not export any goods to either of these two countries. Trade was one-sided and consisted only of imports into Bulgaria.

The only product imported from Sweden and Norway was unworked iron. Although the total value of these imports was small, it showed a steady and continuous increase over time. During the first period, Bulgaria imported unworked iron worth 60,579 francs. In the second period, this amount rose slightly to 61,881 francs. During the last period, imports increased again to 66,221 francs. This gradual rise shows a stable, though modest, commercial relationship Guided Istanbul Tour.

Trade with Other Minor Countries

In addition to the countries already discussed, Bulgaria also maintained commercial relations with several other states. However, the value of trade with these countries was so small that the Statistical Bureau did not keep separate records for them in most cases.

An important exception was made during the last three years of the period under study. During this time, special records were kept for trade with Spain, Egypt, and Crete. Before the periods 1890–1894 and 1895–1899, trade with these and other minor partners was grouped under the general category of “other countries” or “unknown destination.”

Exports listed under unknown destination were mainly cereals, especially wheat and maize. These goods were usually shipped through the port of Braila. The traders at this port often could not state the final destination in advance, which explains why the exact country of delivery was not recorded.

Overview of Bulgaria’s Maritime Commerce

To complete the discussion of Bulgaria’s foreign trade, it is useful to review the country’s maritime commerce. This overview helps form a clearer picture of Bulgaria’s overall economic activity during this period.

According to statistical data from 1895 to 1899, Bulgarian ports on the Black Sea and along the Danube River were visited each year by an average of 8,949 vessels. These ships had a combined net tonnage of 2,441,816 tons.

During the following period, from 1899 to 1904, maritime traffic increased significantly. The average number of vessels rose to 12,674 per year, with a total net tonnage of 2,991,235 tons. Of these vessels, 3,439 were sailing ships, representing 27.13 percent of the total and carrying 289,916 tons. The remaining 9,235 vessels were steamships, accounting for 72.87 percent of the total and carrying 2,701,319 tons.

Shipping Activity in 1905

In 1905, the Bulgarian ports of Varna and Bourgas alone were visited by 2,480 ships, with a combined tonnage of 1,363,763 tons. This figure shows the growing importance of these ports and highlights the steady expansion of Bulgaria’s maritime trade.

Overall, Bulgaria’s trade with Sweden and Norway remained limited, while maritime commerce showed strong growth. The increase in shipping traffic reflects the rising role of Bulgaria in regional and international trade at the beginning of the twentieth century.

Trade Between Bulgaria and Switzerland

Imports from Switzerland into Bulgaria were highest during the first period, reaching nearly 1.0 million francs. During the second period, imports fell sharply to about 652,000 francs. In the third period, imports increased slightly to around 695,000 francs, but they did not reach the level of the first period.

Exports from Bulgaria to Switzerland were very small during the first two periods. They amounted to only 9,335 francs in the first period and 6,686 francs in the second period. However, during the last period, exports rose significantly to nearly 200,000 francs. This increase shows a growing demand for Bulgarian goods in Switzerland.

Total Trade and Balance

The total trade volume between Bulgaria and Switzerland was highest during the last period, when it reached about 895,000 francs. Despite the growth in exports, the balance of trade remained strongly in favor of imports throughout all three periods Guided Istanbul Tour.

During the first period, imports exceeded exports by 0.99 million francs, which represented over 99 percent of the total trade. In the second period, the deficit remained high at 0.64 million francs, or nearly 99 percent. In the last period, the deficit decreased to 0.49 million francs, or 71.24 percent, showing a slight improvement in Bulgaria’s trade position.

Main Articles Traded

Imports from Switzerland included textiles, machinery, instruments, industrial apparatus, preserves, and sweets.

Exports to Switzerland mainly consisted of eggs and prunes.

Trade Between Bulgaria and Holland

Imports and Exports

Imports from Holland into Bulgaria were lowest during the first two periods but increased sharply during the last period, reaching approximately 312,000 francs. This marked the highest level of imports from Holland over the fifteen years.

Exports from Bulgaria to Holland were modest in the first period at about 79,000 francs. They rose sharply during the second period to 567,000 francs, which was the highest export level recorded. In the last period, exports fell to around 282,000 francs.

Total Trade and Balance

Total trade between Bulgaria and Holland reached its highest level during the second period, with a value of approximately 628,000 francs. During this time, Bulgaria enjoyed a strong trade surplus.

The balance of trade favored exports only in the second period, when exports exceeded imports by 0.51 million francs, or more than 800 percent. In the first period, imports exceeded exports by a small amount of 0.01 million francs. In the last period, imports again exceeded exports by about 0.03 million francs.

Main Articles Traded

Imports from Holland included textiles, leather and leather goods, resins, mineral oils, and glue.

Exports to Holland consisted mainly of wheat, maize, colza, and barley.

In conclusion, Bulgaria’s trade with Switzerland remained dominated by imports, while trade with Holland showed more variation. The second period was especially favorable for Bulgarian exports to Holland, highlighting changing trade patterns in the late nineteenth and early twentieth centuries.

Trade Relations with Servia and the United States

This article reviews Bulgaria’s trade relations with Servia and the United States during three five-year periods: 1890–1894, 1895–1899, and 1900–1904. The analysis focuses on imports, exports, total trade volume, and the balance of trade, as well as the main goods exchanged with each country.

Trade Between Bulgaria and Servia

Imports and Exports

Imports from Servia into Bulgaria declined steadily over time. During the first period, imports amounted to 1.06 million francs. In the second period, they decreased slightly to 1.00 million francs. By the third period, imports had fallen further to 0.87 million francs Private Istanbul Tour.

Exports from Bulgaria to Servia remained relatively low during the first two periods. They were about 286,000 francs in the first period and 274,000 francs in the second period. However, exports increased significantly during the last period, reaching 628,000 francs.

Total Trade and Balance

Total trade between the two countries was highest during the last period, at nearly 1.5 million francs. Despite the growth in exports, the balance of trade remained in favor of imports throughout all three periods.

The largest trade deficit occurred during the first period, when imports exceeded exports by about 0.8 million francs, or 73.21 percent. The deficit decreased over time, showing some improvement in Bulgaria’s trade position, although imports continued to exceed exports.

Main Articles Traded

Imports from Servia included string, ropes, hemp twine, braids, inflammable materials, wood products, furniture, knitted goods, and hides.

Exports to Servia mainly consisted of maize, cloth, serge, unwashed wool, and rice.

Trade Between Bulgaria and the United States

Imports and Exports

Trade between Bulgaria and the United States expanded rapidly over time. Imports from the United States increased from 102,000 francs in the first period to 257,000 francs in the second period. During the last period, imports reached nearly 330,000 francs.

Exports from Bulgaria to the United States grew even more strongly. They rose from 20,000 francs in the first period to 182,000 francs in the second period. During 1900–1904, exports climbed sharply to 660,000 francs.

Total Trade and Balance

Total trade between the two countries reached its highest level during the last period, amounting to nearly 990,000 francs. This growth reflects increasing commercial ties and improved access to overseas markets.

The balance of trade favored imports during the first two periods. Bulgaria recorded trade deficits of 82,000 francs and 75,000 francs, respectively. However, during the last period, the situation changed. Exports exceeded imports by 330,000 francs, giving Bulgaria a strong trade surplus of over 100 percent.

Main Articles Traded

Imports from the United States included machinery, instruments, metal goods, and textiles.

Exports to the United States mainly consisted of attar of roses and kid skins.

In conclusion, Bulgaria’s trade with Servia remained modest and import-heavy, while trade with the United States expanded rapidly and became export-driven in the early twentieth century. These patterns show Bulgaria’s growing participation in international trade beyond Europe.

Trade Relations with Greece and Roumania

This article reviews Bulgaria’s trade relations with Greece and Roumania during three five-year periods: 1890–1894, 1895–1899, and 1900–1904. The discussion focuses on imports, exports, total trade volume, and the balance of trade, as well as the main goods exchanged between the countries.

Trade Between Bulgaria and Greece

Imports and Exports

Imports from Greece into Bulgaria varied over the three periods. They were highest during the second period, showing stronger demand for Greek goods at that time. During the first and third periods, import levels were lower Private Istanbul Tour.

Exports from Bulgaria to Greece followed a strong upward trend. They increased steadily and reached their highest level during the last period (1900–1904). This growth reflects expanding markets in Greece for Bulgarian agricultural products.

Total Trade and Balance

The total trade between Bulgaria and Greece, including both imports and exports, was largest during the last period. This indicates that commercial relations between the two countries strengthened over time.

The balance of trade was always in favor of Bulgaria. Exports exceeded imports in all three periods. During the first period, the export surplus amounted to 0.2 million francs, equal to 104.62 percent of imports. In the second period, the surplus increased to 0.4 million francs, or 83.16 percent. The most dramatic growth occurred in the last period, when the surplus reached 3.1 million francs, or 925.61 percent. This shows a very strong export position for Bulgaria in trade with Greece.

Main Articles Traded

Imports from Greece included oils, fats, wax and related products, alcoholic spirits, and colonial goods.

Exports to Greece mainly consisted of wheat, maize, flour, haricot beans, beans, and peas.

Trade Between Bulgaria and Roumania

Imports and Exports

Trade with Roumania increased gradually over time. Both imports and exports were highest during the last period. Imports into Bulgaria rose from 2.1 million francs in the first period to 2.3 million francs in the last period.

Exports from Bulgaria to Roumania were lower than imports in all periods. They declined during the second period but rose again in the third period, reaching 1.29 million francs.

Total Trade and Balance

Total trade between Bulgaria and Roumania reached its highest level during the last period, at nearly 3.6 million francs. Despite this growth, the balance of trade was consistently in favor of Roumania.

The trade deficit for Bulgaria amounted to 1.3 million francs in the first period, 1.4 million francs in the second period, and 1.0 million francs in the last period. Although the deficit decreased slightly over time, imports still exceeded exports.

Main Articles Traded

Imports from Roumania included wood products, furniture, knitted goods, resins, mineral oils, glue, leather, leather goods, and colonial articles.

Exports to Roumania consisted mainly of maize, wheat, barley, haricot beans, and similar agricultural products.

In conclusion, Bulgaria maintained a strong export advantage in trade with Greece, while trade with Roumania remained import-heavy. These trade patterns highlight Bulgaria’s dependence on neighboring countries for industrial and energy products, alongside its strong agricultural export base.

Trade Relations with Italy Russia and Greece

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.

Articles of Importation and Exportation

This article presents a brief summary of Bulgaria’s trade with two major European partners: Turkey and England. The data is based on a detailed study published by the Ministry of Commerce and Agriculture. The figures cover three five-year periods: 1890–1894, 1895–1899, and 1900–1904. The analysis focuses on imports, exports, total trade, and the balance of trade.

Trade Relations Between Bulgaria and Turkey

Imports and Exports

Trade between Bulgaria and Turkey remained strong throughout all three periods. Imports into Bulgaria from Turkey were 10.6 million francs in the first period. This figure fell to 8.4 million francs in the second period but rose again to 11 million francs in the period 1900–1904.

Exports from Bulgaria to Turkey were always higher than imports. They reached 22.3 million francs in the first period, decreased slightly in the second period, and rose again to 22.6 million francs in the last period. As a result, total trade between the two countries was highest during the final period.

Balance of Trade

The balance of trade was always in favor of Bulgaria. Exports exceeded imports in all three periods. The surplus reached about 11.7 million francs in the first period, 10.2 million francs in the second, and 11.6 million francs in the last period. This shows a stable and profitable trade relationship.

Main Articles Traded

Imports from Turkey included oil, fats, wax and wax products, textile goods, jams and preserves, colonial products, fruits, vegetables, seeds, foodstuffs, hides, and leather goods.

Exports to Turkey mainly consisted of sheep and goats, wheat and corn, wheat flour, cheese, linen and woollen fabrics, cattle, and maize.

Trade Relations Between Bulgaria and England

Imports and Exports

Imports from England into Bulgaria were highest during the first period, reaching 18.8 million francs. They declined steadily in the following periods, falling to 14 million francs in the last period.

Exports from Bulgaria to England followed the opposite trend. They increased from 13.6 million francs in the first period to 18.2 million francs during 1900–1904. This shows growing demand in England for Bulgarian products Guided Istanbul Tour.

Balance of Trade

During the first two periods, the balance of trade favored England, as imports were higher than exports. The trade deficit for Bulgaria was 5.1 million francs in the first period and 0.3 million francs in the second. However, in the last period, the situation changed. Bulgaria achieved a trade surplus of 4.2 million francs, meaning exports exceeded imports.

In conclusion, Bulgaria maintained a strong export position with Turkey across all periods. Trade with England showed improvement over time, especially in exports. These trends reflect Bulgaria’s growing role in European trade and its increasing export capacity during the early twentieth century.

Overview of Export Changes

This article explains the changes in exports by comparing the period 1900–1904 with the two earlier periods 1890–1894 and 1895–1899. The figures show whether exports increased or decreased and by how much. Overall, the data proves that exports grew strongly during the period 1900–1904, even though some goods declined.

Major Agricultural Export Trends

The most important export products were agricultural goods. Wheat showed a decline when compared with both earlier periods. This decrease explains why wheat lost part of its dominant position in total exports. However, this fall was balanced by strong growth in other crops Guided Istanbul Tour.

Maize exports increased greatly. Compared with the first period, maize exports rose by more than 50 percent, and compared with the second period, they grew by more than 100 percent. This shows a clear shift toward maize production and export.

Eggs experienced one of the strongest increases. Their export value grew sharply compared with both earlier periods, which reflects higher foreign demand and improved transport and storage methods.

Growth in Cereals and Processed Foods

Other cereals such as barley and oats also expanded strongly. Barley exports rose by several hundred percent compared with earlier periods. Oats showed extremely high growth rates, although from a small base.

Wheat flour, a processed product, recorded major growth. This suggests that the country did not only export raw grain but also began exporting more processed food products. Cheese, including ordinary cheese and kaschkaval, also showed steady increases.

Animal Products and By-Products

Exports of sheep, goats, cattle, and their skins increased overall, although some years showed small declines. Tanned skins and worked hides performed especially well, showing the development of basic processing industries.

Products such as sausages and dry salted meat (pastarma) gained importance. This reflects growing foreign demand for preserved meat products.

Industrial and Special Goods

Some non-food exports showed strong growth. Attar of roses increased greatly, becoming an important high-value export. Silk-related products, including raw silk and silkworm waste, also recorded notable growth.

Exports of wood, charcoal, garden seeds, wool, carpets, and copper fluctuated but generally increased over time, adding diversity to the export economy.

Overall Export Performance

The total value of exports rose significantly during 1900–1904 compared with the previous periods. Despite declines in a few goods, strong growth in many agricultural and semi-processed products led to an overall expansion.

In conclusion, the export data shows a clear trend toward diversification and growth. While wheat declined, many other products expanded rapidly. This balanced structure helped strengthen foreign trade and reduce dependence on a single export product.

Overview of Exports by Period

The export table shows the value and percentage share of major goods during three different periods: 1890–1894, 1895–1899, and 1900–1904. The data clearly demonstrates how the country’s export structure developed over time. Agricultural products dominated exports in all three periods, although the importance of individual goods changed.

In the first period, total exports reached about 76 million francs. This amount slightly declined to 73 million francs during the second period. In contrast, exports increased strongly in the third period, reaching more than 101 million francs. This growth reflects improved production, higher demand, and better trade connections Guided Istanbul Tour.

Main Exported Agricultural Products

Wheat remained the most important export throughout all periods. However, its share gradually declined. It represented over 56 percent of exports in the first period but fell to about 35 percent in the third period. This decline does not indicate weakness, but rather growth in other products.

Maize exports showed steady growth. While maize formed a small share at first, its export value increased noticeably by the period 1900–1904. Eggs experienced one of the strongest increases. Their export value rose from a very small amount in the first period to more than 5.6 million francs in the third period.

Other cereals such as barley and oats also showed strong growth. Barley exports increased several times compared to earlier periods, and oats expanded rapidly, showing the diversification of cereal exports.

Animal Products and Dairy Exports

Exports of sheep, lambs, cattle, and horses remained important but relatively stable. Products such as skins, hides, and wool gained more importance over time. Cheese, including kaschkaval, showed clear growth, indicating rising demand for processed agricultural goods.

Industrial and Special Products

Some non-food products also played a role in exports. Attar of roses, a valuable perfume product, increased strongly over time. Silkworm cocoons also showed steady growth, reflecting the development of silk-related activities.

Exports of worked wood, linen trimmings, woollen fabrics, and carpets remained small in percentage terms, but they added diversity to the export economy.

General Trends and Conclusion

Overall, the export data shows a clear shift from dependence on a single product toward a more balanced agricultural export structure. While wheat remained dominant, products such as maize, eggs, barley, dairy goods, and special items like attar of roses gained importance. This diversification helped raise total exports significantly during the period 1900–1904 and strengthened the country’s foreign trade position.

Growth of Cereal Exports

The average export value of cereals, such as wheat, maize, rye, oats, and canary seed, showed changes across the three periods. During the first period, cereal exports reached 58 million francs. In the second period, the value slightly fell to 54 million francs. In the third period, covering 1900–1904, cereal exports increased again to 62 million francs.

Cereals formed the largest part of total exports in all periods. They represented nearly 76 percent of total exports in the first period and 75 percent in the second. However, their share fell to 62 percent during the period from 1900 to 1904. This decrease in percentage does not mean a decline in importance, but rather a growth in other export categories Guided Istanbul Tour.

Role of Agricultural Products

When cereals are combined with other agricultural products, the dominance of agriculture becomes clearer. These products include colza, tobacco, beans, peas, fruits, and other crops. In addition, exports closely linked to agriculture, such as cattle, poultry, and eggs, must also be considered.

Together, these agricultural exports accounted for 80 to 85 percent of total export value. In contrast, exports of manufactured foods, animal waste products, and other non-agricultural goods formed only 15 to 20 percent of total exports. This confirms that the country’s economy depended heavily on agriculture during this period.

Comparison with Earlier Periods

A comparison between the period 1900–1904 and the two earlier five-year periods shows limited overall decline. Only wheat and corn exports decreased, by 8 million francs, or 19 percent, compared with the earlier periods.

Products Showing Strong Growth

Many other agricultural exports showed strong growth. Maize exports increased by 5.5 million francs compared with the first period and by 8.2 million francs compared with the second. Egg exports rose sharply, increasing by 5.1 million francs over the first period and by 4.4 million francs over the second.

Exports of barley, oats, wheat flour, colza, silk-worm cocoons, and rye also rose significantly. Some products, such as oats and colza, showed especially high growth rates. These increases suggest improved production, higher demand, or better access to foreign markets.

In summary, agricultural exports remained the foundation of foreign trade. While some cereal exports declined slightly, many other products experienced strong growth, helping to balance overall export performance.

Changes in Import Categories

During the period between 1900 and 1904, several important changes appeared in the country’s import categories. One of the main groups was machines, instruments, and apparatuses. Imports in this category decreased by nine million francs, which equals 16.9 percent, when compared with the first period. However, when compared with the second period, there was a small increase of 1.3 million francs. This shows that although demand weakened at first, it later recovered slightly.

Another major group was colonial products. These imports fell by 2.9 million francs in the last period compared with the first period. This decline indicates a lower demand or a change in import timing rather than a permanent reduction in consumption.

Hides, Fellmongery, and Textiles

The category of hides and fellmongery showed a different trend. Imports increased by 0.6 million francs compared with the first period. When compared with the second period, the increase reached one million francs. This growth reflects stronger demand for raw materials used in leather and fur production Guided Istanbul Tour.

In contrast, textile articles experienced a noticeable decline in imports during the last period compared with the first. This decrease mainly occurred because the War Office reduced its orders. Since military demand had played a large role in textile imports, fewer orders led directly to lower import figures.

Sugar, Coffee, and Tea Imports

The decline in imports of sugar products, coffee, and tea requires a different explanation. Large quantities of these goods were imported at the end of the first period. Importers acted quickly to avoid the new excise duties introduced later. As a result, imports during the last period appeared lower, even though overall consumption may not have changed much.

Overview of Export Tables

The export tables present goods based on their quantities during the last period. These tables are highly comprehensive. The listed goods account for 99.5 percent of the country’s total exports. This means they almost fully represent the nation’s foreign trade activity.

Overall, the data shows that changes in imports and exports were influenced by government decisions, tax laws, and shifting demand. Temporary factors, such as excise laws and military needs, played a major role in shaping trade patterns during this period.

Understanding Bulgarias Import and Export Trade

To better understand Bulgarian trade, it is useful to compare the values of imports and exports over the last three five-year periods. The comparison shows how much Bulgaria exported for every 100 francs worth of imports from other countries. This method helps us see the balance of trade and the nature of Bulgaria’s commercial relationships. It also helps guide decisions on commercial policy with different countries.

Exports Compared to Imports

From the data, we see that in some cases Bulgaria exported less than it imported. For example, for every 100 francs of goods imported, Bulgaria exported:

Russia: 5 francs

Switzerland: 29 francs

Austria-Hungary: 41 francs

Italy: 55 francs

Romania: 56 francs

Serbia: 72 francs

Germany: 85 francs

Holland: 90 francs

In these cases, Bulgaria’s trade balance was negative, meaning the country imported more than it exported. This shows a dependence on these countries for certain goods.

Countries with Favorable Trade Balance

In contrast, Bulgaria exported more than it imported from several other countries:

Belgium and Greece: Exports were ten times the imports

Turkey and the United States: Exports were about double the imports

France: Exports were 30% higher than imports

These figures show strong markets for Bulgarian products, especially cereals, livestock, and other local goods, in these countries.

Trends Over Three Periods

Looking at the three quinquennial periods, the proportion between exports and imports remained fairly consistent in the first two periods. However, in the period 1900–1904, Bulgaria’s overall exports increased significantly compared with imports, reaching 126.8 francs of exports for every 100 francs of imports. This shows that Bulgaria was gradually becoming a more export-oriented economy, with stronger trade relations in certain markets Private Ephesus Tours.

The table comparing exports and imports illustrates the balance of trade for Bulgaria. It highlights countries where Bulgaria has a surplus or deficit and helps understand which markets are most important. Over time, Bulgaria has been successful in increasing its exports, particularly to Belgium, Greece, Turkey, and the United States, showing the growing international demand for Bulgarian products. This information is essential for shaping future trade policies and promoting economic growth.

Major Export Destinations

During the period 1890–1904, Bulgaria exported cereals and other products to several countries. England was the second largest importer of Bulgarian cereals. In the first period (1890–1894), England received 17.9% of the total exports. This share increased to 28.1% during the second period (1895–1899), before falling to 18.0% in the period 1900–1904.

Other important export destinations included Germany, which imported mainly cereals, Austria-Hungary, which imported raw animal materials and other goods, and France, which also imported cereals. Smaller importers were Greece, Italy, and Romania. Although exports to these countries were less significant, they still showed some growth during 1900–1904.

Increase in Exports (1900–1904)

The period 1900–1904 saw a significant rise in exports to many countries compared with the first period:

Belgium: Increased by 21.9 million francs, or 8,798.1%

Austria-Hungary: Increased by 5.6 million francs, or 161.1%

England: Increased by 4.6 million francs, or 33.5%

Greece: Increased by 3.1 million francs, or 772.3%

Italy: Increased by 1.3 million francs, or 10.3%

United States: Increased by 0.6 million francs, or 3,191.1%

On the other hand, exports to France decreased by 10.7 million francs, or 62.2%, showing a clear decline in trade with that country during this period Private Ephesus Tours.

Comparison with the Second Period (1895–1899)

When compared with the second quinquennial period, exports during 1900–1904 also increased to several key countries:

Belgium: +17.0 million francs, or 274.8%

Austria-Hungary: +4.3 million francs, or 92.5%

Turkey: +4.0 million francs, or 21.5%

Greece: +2.6 million francs, or 301.0%

Italy: +1.6 million francs, or 109.6%

England: +1.3 million francs, or 8.0%

Exports to France fell by 3 million francs, or 31.4%, and exports to Germany fell by 1.2 million francs, or 11.2%.

Overall, Bulgaria’s export trade shifted significantly during the period 1900–1904. Belgium became a major market, while exports to traditional partners such as France and Germany declined. Meanwhile, exports to Greece, Italy, Austria-Hungary, and the United States showed impressive growth. These trends reflect both the expansion of Bulgaria’s production and changing patterns in international demand for Bulgarian goods.