December 19 (SeeNews) - Bulgaria's current account was in surplus of 542.1 million euro ($575.4 million) at the end of October, compared to a surplus of 479.3 million euro a year earlier, the central bank said on Monday.
The current account surplus for the first ten months of 2022 was equal to 0.7% of the estimated gross domestic product (GDP) for the year, the Bulgarian National Bank (BNB) said in its latest monthly report.
The surplus in January-October 2021 also represented 0.7% of last year's GDP.
In October alone, the current account deficit expanded significantly, reaching 177.1 million euro against 24.3 million euro in the same month of 2021.
Imports of goods into Bulgaria in the January-October period rose 42.3% year-on-year to 42.7 billion euro, equal to 54% of the GDP forecast for 2022. In the comparable period a year ago, imports accounted for 42.2% of GDP, having registered a notably less dynamic annual growth of a little over a quarter.
At some 39.4 billion euro, exports of goods between January and October also grew at a faster pace than last year - by 40% compared to a 24.8% increase in the first nine months of 2021. The value of nine-month exports was equivalent to about half of Bulgaria's projected GDP for the current year.
Details follow (in millions of euro):
|
Jan-Oct'22 |
Jan-Oct'21 |
CURRENT ACCOUNT |
542.1
|
479.3 |
- goods and services (net) |
1261.0 |
1705.2 |
-- goods |
-3266.2 |
-1826.1 |
-- services |
4527.2 |
3531.2 |
- primary income |
-1649.3 |
-1933.8 |
- secondary income |
930.4 |
708.0 |
CAPITAL ACCOUNT |
-345.1 |
558.8 |
FINANCIAL ACCOUNT |
3240.4 |
3605.2 |
542.1
source: BNB
($ = 0.9421 euro)