The current account surplus in the period under review was equivalent to 5.4% of the projected 2017 GDP, down from 5.6% of GDP in January-October 2016, the BNB said in a monthly balance of payments report citing preliminary data.
The country's trade gap widened to 1.27 billion euro, or 2.5% of GDP, in the first ten months from 753.8 million euro, or 1.6% of GDP, in the same period last year. Exports grew 13.7% year-on-year while imports expanded 15.8%. In January-October 2016, exports added 1.0% on the year, while imports shrank 1.6%.
Details follow (in millions of euro):
Jan-Oct'17 | Jan-Oct'16 | |
CURRENT ACCOUNT | 2,684.0 | 2,673.6 |
- Trade in goods and services (net) | 1,630.9 | 2,180.2 |
- Trade in goods (net) | -1,270.4 | -753.8 |
- Trade in services (net) | 2,901.3 | 2,934.0 |
- Primary income (net) | -360.2 | -854.5 |
- Secondary income (net) | 1,413.3 | 1,347.8 |
CAPITAL ACCOUNT | 374.7 | 1,009.1 |
FINANCIAL ACCOUNT | 1,813.3 | 3,568.3 |
Source: BNB
Bulgaria closed 2016 with a current account surplus of 1.8 billion euro, compared to a surplus of 172.4 million euro in the previous year. Trade deficit totalled 1.79 billion euro, or 3.8% of GDP, in 2016, as compared to a trade gap of 2.6 billion euro, or 5.8% of GDP, in the previous year.