site.btaBulgaria’s Current and Capital Account Shows EUR 454 Mln Surplus – Central Bank

Bulgaria’s current and capital account showed a surplus of EUR 454.4 million in February 2024, improving from the surplus of EUR 170.1 million in February 2023, the Bulgarian National Bank said Wednesday. In January – February 2024 the current and capital account had a surplus of EUR 517.4 million (0.5% of GDP), up from a deficit of EUR 54.7 million (0.1% of GDP) in January – February 2023.

The current account had a surplus of EUR 275.8 million in February 2024, up from EUR 63.7 million in February 2023. It added up to a surplus of EUR 293 million (0.3% of GDP) in January – February 2024, compared with a deficit of EUR 204 million (0.2% of GDP) in January – February 2023.

The balance on goods showed a deficit of EUR 403 million in February 2024, worsening from a deficit of  EUR 272.8 million in February 2023. It added up to a deficit of EUR 912 million (0.9% of GDP) in January – February, worsening from a deficit of EUR 559.3 million (0.6% of GDP) in January – February 2023.

Exports of goods amounted to EUR 3,368.7 million in February 2024, decreasing by EUR 236.1 million (6.5%) from EUR 3,604.8 million in February 2023. In January – February 2024 exports of goods totalled EUR 6,494.6 million (6.4% of GDP), dropping by EUR 746.1 million (10.3%) year-on-year (from EUR 7,240.6 million, 7.7% of GDP). In January – February 2023 exports increased by 10.3% year-on-year.

Imports of goods amounted to EUR 3,771.8 million in February 2024, decreasing by EUR 105.8 million (2.7%) from February 2023 (EUR 3,877.6 million). In January – February 2024 imports of goods totalled EUR 7,406.5 million (7.3% of GDP), dropping by EUR 393.4 million (5%) from January – February 2023 (EUR 7,800 million, 8.3% of GDP). In January – February 2023 imports increased by 4.9% year-on-year.

Services showed a positive balance of EUR 492.3 million in February 2024, compared with a surplus of EUR 364.8 million in February 2023. In January – February 2024 services recorded a surplus of EUR 968.4 million (1% of GDP), compared with a positive balance of EUR 725.2 million (0.8% of GDP) in the same period of 2023.

The capital account had a surplus of EUR 178.7 million, up from a surplus of EUR 106.4 million in February 2023. In January – February 2024 the capital account showed a surplus of EUR 224.4 million (0.2% of GDP), up from EUR 149.3 million (0.2% of GDP) in January – February 2023.

The financial account had a surplus of EUR 121.1 million, down from a surplus of EUR 390.7 million in February 2023. In January – February 2024 the financial account showed a net outflow of EUR 342.7 million (0.3% of GDP), compared with an inflow of EUR 190.8 million (0.2% of GDP) in January – February 2023.

Direct investment were in a deficit of EUR 136 million, compared with a deficit of EUR 282.7 million in February 2023. In January – February 2024, direct investment showed an outflow of EUR 241 million (0.2% of GDP), compared with a deficit of EUR 621.3 million (0.7% of GDP) in January – February 2023, the central bank said.