The country's current account deficit rose to 5.381 billion euro ($6.743 billion) in the first nine months of 2008 from 3.900 billion euro a year earlier, the central bank said in a statement.
In September alone, Bulgaria had a current account deficit of 535.5 million euro versus a deficit of 541.8 million euro in September 2007.
The central bank has revised the current account gap figure for the first nine months of 2007 to 13.5% of GDP from an earlier 13.8% of GDP.
Details follow:
BULGARIA BALANCE OF PAYMENTS (in mln of euro) | Jan-Sept'08 | Jan-Sept'07 |
CURRENT ACCOUNT | -5,381.3 | -3,900.2 |
-Trade balance | -6,448.5 | -4,979.0 |
-Balance of services | 1,206.1 | 1,230.3 |
-Income balance | -676.7 | -377.9 |
-Net current transfers | 537.8 | 226.4 |
CAPITAL ACCOUNT | 235.4 | 138.3 |
FINANCIAL ACCOUNT | 8,302.3 | 7,915.0 |
Foreign direct investments in Bulgaria | 3,659.8 | 4,715.2 |
TOTAL BALANCE | 2,720.1 | 2,986.4 |
Foreign direct investments in the country covered 68% of the current account deficit for the first nine months, compared to 120.9% in the year-ago period.
Bulgaria ended 2007 with a revised current account deficit of 21.8% of the GDP, up from 17.8% a year earlier. For 2008, the government in Sofia expects a current account gap similar to last year's shortfall.
($ = 0.7981 euro)