Bulgaria Swings to C/A Surplus in Jan-Nov, FDI Down
Monday, 20 January 2014
Bulgaria turned to an eleven-month current account surplus equal to 2.8% of the gross domestic product (GDP) projected for 2013 from a gap of 0.5% of GDP a year earlier, the central bank said.
The current account showed a surplus of 1.1 billion euro ($1.5 billion) through November compared to a deficit of 192.1 million euro a year earlier, the central bank said in a statement.
Foreign direct investment (FDI) amounted to 1.2 billion euro, or 3.0% of GDP, through November. A year earlier FDI stood at 1.7 billion euro, or 4.4% of GDP.
Bulgaria posted a trade deficit of 1.97 billion euro for the period under review, equivalent to 4.9% of the projected GDP. In the first eleven months of 2012 the country ran a trade deficit of 3.1 billion euro.
Exports increased by 7.2% on the year to 20.6 billion euro in the first eleven months of 2013, while imports rose by 1.0% to 22.6 billion euro.