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Bulgaria's 3-mo c/a gap widens to 947 mln euro - c-bank

Bulgaria's 3-mo c/a gap widens to 947 mln euro - c-bank Ju1978/Shutterstock.com

SOFIA (Bulgaria), May 18 (SeeNews) - Bulgaria's current account balance was negative in the first quarter of 2022, totalling 946.7 million euro ($996.6 million), compared to a surplus of 35.2 million euro in the same period of 2021, the central bank said on Wednesday.

In the first quarter of 2022, the current account deficit represented 1.6% of the projected gross domestic product (GDP) for the year, as imports of goods jumped by 41.8% on the year to 11.9 billion euro or 15.8% of the estimated GDP, the Bulgarian National Bank (BNB) said in a statement.

The surplus in the first three months of 2021 amounted to 0.1% of last year's GDP.

Exports of goods increased by 36% on the year in the review period, coming in at some 10.7 billion euro or 14.2% of the projected GDP.

Details follow (in mln euro):

Jan-Mar'22 Jan-Mar'21
CURRENT ACCOUNT -946.7 35.2
- goods and services (net) -321.1 236.7
-- goods -1186.3 -513.1
-- services 865.2 749.9
- primary income -1027.6 -505.2
- secondary income 303.6 402.0
CAPITAL ACCOUNT 227.7 -394.0
FINANCIAL ACCOUNT 1506.7 -482.7

source: BNB

($ = 0.9499 euro)

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