Bulgaria Turns to C/A Deficit of 0.1%/GDP in Jan-Oct

Bulgaria Turns to C/A Deficit of 0.1%/GDP in Jan-Oct

Bulgaria's current account deficit in the January-October period was equivalent to a preliminary 0.1% of the gross domestic product (GDP) projected for 2012, compared to a surplus of 1.9% a year earlier, the country's central bank said.

At the end of October, the current account showed a deficit of 31.5 million euro ($41.2 million), compared to a surplus of 738.2 million euro a year earlier, the central bank said in a statement on Friday.

Bulgaria posted a trade deficit of some 3.1 billion euro through October, equivalent to 7.8% of the projected GDP. In the first ten months of 2011 the country ran a trade deficit of 1.5 billion euro.

Exports in the first ten months of 2012 rose by 2.3% to 17.3 billion euro, while imports went up by 10.8% to 20.4 billion euro.

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