Bulgaria's Q1 c/a gap narrows to 134 mln euro - c-bank

The current account deficit for the first quarter of 2024 was equal to 0.1% 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 comparable period of last year represented 0.4% of the 2023 GDP.

In March alone, the current account was in deficit of 196.6 million euro against 209.3 million euro in the same month of 2023.

Imports of goods into Bulgaria in January-March fell by 2.8% on the year to 11.63 billion euro, equal to 11.5% of the GDP projected for 2024. In the same period a year earlier, imports accounted for 12.7% of GDP.

At some 10.12 billion euro, exports of goods between January and March went down 10.2% year-on-year compared with a 5.2% annual rise in the first three months of 2023. The value of first-quarter exports was equal to 10% of Bulgaria's forecast GDP.

Details follow (in millions of euro):

Source: BNB

($ = 0.9203 euro)