Bulgaria's 5-mo c/a gap widens to 1.7%/GDP

Bulgaria's 5-mo c/a gap widens to 1.7%/GDP

Bulgaria's current account deficit was equivalent to a preliminary 1.7% of the gross domestic product (GDP) projected for 2012 in the five months through May, up from 0.3% of GDP a year earlier, the central bank said.

At the end of May, the current account showed a deficit of 671.6 million euro ($818 million), compared to a gap of 99.9 million euro a year earlier, the central bank said in a statement on Monday.

Bulgaria posted a trade deficit of 1.65 billion euro through May, equivalent to 4.2% of the projected GDP. In the first five months of 2011 the country ran a trade deficit of 668.8 million euro.

Exports edged up by 0.9% on the year to 8.13 billion euro in the first five months of 2012, while imports rose by 12.1% to 9.8 billion euro.

Foreign direct investments (FDI) in Bulgaria totalled 473.8 million euro through May, equivalent to 1.2% of the projected GDP, up from 72.2 million euro a year earlier.

 

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