Bulgaria Turns to C/A Gap of 0.7%/GDP in 2012, FDI Drops to 1.398 Bln Euro

Bulgaria Turns to C/A Gap of 0.7%/GDP in 2012, FDI Drops to 1.398 Bln Euro

Bulgaria posted last year a current account deficit equivalent to a preliminary 0.7% of the gross domestic product (GDP) projected for 2012, after running a surplus of 0.3% a year earlier, the country's central bank said.

At the end of December, the current account showed a deficit of 267.8 million euro ($357.7 million), compared to a 103.5 million euro surplus in 2011, the central bank said on its website.

The trade balance showed a deficit of 3.594 billion euro at the end of December, equivalent to 9.1% of the projected GDP. In 2011, the country ran a trade deficit of 2.156 billion euro, equivalent to 5.6% of GDP.

Exports in 2012 rose 2.6% on the year to 20.79 billion euro, while imports increased by 1.97 billion euro to 24.39 billion euro.

Foreign direct investment (FDI) in Bulgaria decreased to 1.398 billion euro through December, equivalent to 3.5% of the projected GDP, from some 1.74 billion euro a year earlier.

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