UPDATE 1 - Bulgaria's Jan-Oct c/a Surplus Increases
Monday, 19 December 2016
Bulgaria's current account showed a surplus of 2.2 billion euro (2.3 billion US dollars) in the first ten months of 2016, compared to a surplus of 813.3 million euro in the like period last year, the central bank said on Friday.
The current account surplus for January-October was equivalent to 4.8% of the 2016 gross domestic product (GDP) projected by the BNB, as compared to a surplus equivalent to 1.8% of GDP in the year-ago period, the Bulgarian National Bank, BNB, said in a statement.
In October alone, the current account had a surplus of 57.4 million euro, compared to a deficit of 141.4 million euro in the same month last year.
Bulgaria's January-October trade deficit decreased to 1.4 billion euro, or 3% of GDP, as compared to a gap of 1.9 billion euro, or 4.2% of GDP, a year earlier.
Ten-month exports grew by 1.0% year-on-year to 18.6 billion euro, while imports decreased 1.6% to 20 billion euro. Exports grew 5.5% and imports increased 3.1% during the same period of 2015.