Bulgaria Swings to C/A Surplus of 1.2%/GDP in Jan-July, FDI Falls
Tuesday, 17 September 2013
Bulgaria turned to a seven-month current account surplus equal to 1.2% of the gross domestic product (GDP) projected for 2013 from a gap of 1.2% a year earlier, the central bank said.
The current account showed a surplus of 507.1 million euro ($667.1 million) through July compared to a gap of 469.8 million euro a year earlier.
Bulgaria posted a trade deficit of 1.46 billion euro for the period under review, equivalent to 3.6% of the projected GDP. In the first seven months of 2012 the country ran a trade deficit of 2.3 billion euro.
Exports increased by 1.6% on the year to 12.7 billion euro in the first seven months of 2013, while imports grew by 11.7% to 14.1 billion euro.
Foreign direct investment (FDI) amounted to 802.5 million euro, or 2.0% of GDP. A year earlier FDI stood at 1.2 billion euro or 3.0% of GDP.