Bulgaria's 4-mo C/A Gap Widens to 1.5%/GDP

Bulgaria's 4-mo C/A Gap Widens to 1.5%/GDP

Bulgaria's current account deficit was equivalent to a preliminary 1.5% of the gross domestic product (GDP) projected for 2012 in the first four months through April, up from 0.5% of GDP a year earlier, the central bank said.

At the end of April, the current account showed a deficit of 597.5 million euro ($750 million), compared to a gap of 204.1 million euro a year earlier, the central bank said in a statement on Friday.

Bulgaria posted a trade deficit of almost 1.22 billion euro through April, equivalent to 3.1% of the projected GDP. In the first four months of 2011 the country ran a trade deficit of 434.1 million euro.

Exports dropped by 1.7% on the year to 6.3 billion euro in the first four months of 2012, while imports rose by 9.8% to 7.5 billion euro.

Foreign direct investments (FDI) in Bulgaria totalled 407.2 million euro through April, equivalent to 1.0% of the projected GDP, compared to 63.1 million euro a year earlier.

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