Bulgaria Swings to C/A Surplus of 3.5%/GDP in Jan-Aug, FDI Drops
Thursday, 17 October 2013
Bulgaria turned to an eight-month current account surplus equal to 3.5% of the gross domestic product (GDP) projected for 2013 from a gap of 0.2% a year earlier, the central bank said.
Foreign direct investment amounted to 772.5 million euro, or 1.9% of GDP. A year earlier FDI stood at 1.6 billion euro or 4.0% of GDP, the central bank said in a statement.
The current account showed a surplus of 1.42 billion euro ($1.92 billion) through August compared to a gap of 92.8 million euro a year earlier.
Trade deficit in the period under review amounted to 1.34 billion euro, equivalent to 3.3% of the projected GDP. A year ago it stood at 2.5 billion euro.
Exports increased by 7.9% on the year to 14.7 billion euro in the eight-month period, while imports fell by 0.4% to 16 billion euro.