Bulgaria Reports 11-mo C/A Surplus of 2.9%/GDP

Bulgaria Reports 11-mo C/A Surplus of 2.9%/GDP

Bulgaria posted a current account surplus through November equivalent to a preliminary 2.9% of the gross domestic product (GDP) projected for 2011 after running a deficit of 0.5% in the same period a year earlier, the country's central bank said.

At the end of November, the current account showed a surplus of 1.15 billion euro ($1.47 billion), compared to a 165 million euro deficit a year earlier, the central bank said in  statement posted on its website.

Bulgaria's trade balance showed a deficit of 1.44 billion euro at the end of November, equivalent to 3.7% of the projected GDP. In the first eleven months of 2010, the country ran a trade deficit of 2.39 billion euro, equivalent to 6.6% of GDP.

January-November exports rose 30.6% on the year to 18.49 billion euro while imports increased by 20.4% to 19.94 billion euro.

Foreign direct investment (FDI) in Bulgaria decreased to 740 million euro through November, equivalent to 1.9% of the projected GDP, from some 1.43 billion euro a year earlier.

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