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Bulgaria swings to 4-mo c/a surplus of 286 mln euro - c-bank

Jun 17, 2024, 12:49:49 PMArticle by Mihaela Miteva
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June 17 (SeeNews) - Bulgaria's current account was in surplus of 286 million euro ($305.6 million) at the end of April, compared with a deficit of 438.4 million euro a year earlier, the central bank said on Monday.

Bulgaria swings to 4-mo c/a surplus of 286 mln euro - c-bank
Image source: Bulgarian National Bank (BNB)

The current account surplus for the first four months of 2024 was equal to 0.3% of the forecast gross domestic product (GDP) for the year, the Bulgarian National Bank (BNB) said in its latest monthly balance of payments report. The deficit in the like period of last year represented 0.5% of the 2023 GDP.

In April alone, the current account was in deficit of 56.9 million euro against 25.2 million euro in the same month of 2023.

Imports of goods into Bulgaria in January-April rose by 1% on the year to some 15.68 billion euro, equal to 15.5% of the GDP projected for 2024. In the same period a year earlier, imports accounted for 16.5% of GDP.

At some 14.2 billion euro, exports of goods between January and April fell by 3.3% year-on-year compared with a 0.9% annual climb in the first four months of 2023. The value of four-month exports was equal to 14% of Bulgaria's forecast GDP.

Details follow (in millions of euro):

April'24 April'23
CURRENT ACCOUNT -56.9 -25.2
- goods and services (net) -75.8 219.1
-- goods -491.0 -157.2
-- services 415.2 376.4
- primary income -126.0 -367.3
- secondary income 145.0 123.0
CAPITAL ACCOUNT 156.5 73.5
FINANCIAL ACCOUNT 94.6 -439.3

Source: BNB

($ = 0.9358 euro)

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