Bulgaria Swings to C/A Surplus of 2.8%/GDP in Jan-Oct, FDI Shrinks
Tuesday, 17 December 2013
Bulgaria turned to a ten-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 October compared to a gap of 201.5 million euro a year earlier.
Foreign direct investment (FDI) amounted to 1.05 billion euro, or 2.6% of GDP, through October. A year earlier FDI stood at 1.8 billion euro, or 4.7% of GDP.
Bulgaria posted a trade deficit of 1.8 billion euro for the period under review, equivalent to 4.4% of the projected GDP. In the first ten months of 2012 the country ran a trade deficit of 2.97 billion euro.
Exports increased by 7.8% on the year to 18.6 billion euro in the first ten months of 2013, while imports rose by 0.9% to 20.4 billion euro.