October 17 (SeeNews) - Bulgaria's current account showed a surplus of 1.9 billion euro ($2.1 billion) for the first eight months, compared to a surplus of 805.5 million euro for the same period last year, the central bank, BNB, said on Monday.
The current account surplus for January-August was equivalent to 4.2% of the 2016 gross domestic product (GDP) forecast by the BNB. This compared with a surplus equivalent to 1.8% of GDP for the year-ago period, the BNB said in a statement.
In August alone, the current account had a surplus of 621.2 million euro, compared to a surplus of 424.9 million euro for the same month last year.
Bulgaria's January-August trade deficit fell to 1.0 billion euro, or 2.4% of GDP, from 1.4 billion euro, or 3.1% of GDP, a year earlier.
Eight-month exports fell 1.2% year-on-year to 14.6 billion euro, while imports decreased 3.3% to 15.6 billion euro. Exports grew 8.6% and imports rose 5.2% during the same period of 2015.
Details follow (in millions of euro):
BALANCE OF PAYMENTS |
Jan-Aug'16 |
Jan-Aug'15 |
Aug'16 |
Aug'15 |
CURRENT ACCOUNT |
1,914.8 |
805.5 |
621.2 |
424.9 |
- Trade balance |
-1,073.3 |
-1,419.0 |
-174.2 |
-26.7 |
- Balance of services |
1411.4 |
911.6 |
538.8 |
628.0 |
- Primary income |
-771.5 |
-1,524.3 |
7.4 |
-266.8 |
- Secondary income |
1274.9 |
1418.2 |
75 |
63.8 |
CAPITAL ACCOUNT |
936.1 |
884.7 |
5.8 |
60.1 |
FINANCIAL ACCOUNT |
3,145.4 |
2,252.1 |
1,060 |
195.0 |
($= 0.9096 euro)