In September 2007 the Current account was negative and amounted to EUR 464.3 million, compared to a negative account of EUR 208.5 million for the same month in 2006. In the period January – September 2007, the current account deficit was EUR 3,675.1 million (13.8% of GDP), against a deficit of EUR 2,100.2 million (8.4% of GDP) for the same period in 2006. The main factor for the increase of the current account deficit was the higher (by EUR 1,447.4 million) trade deficit.

In the period January – September 2007, the Current and Capital account deficit was EUR 3,571 million (13.4% of GDP), against a deficit of EUR 1,981.7 million (7.9% of GDP) for the same period in 2006.

The trade deficit in January – September 2007 amounted to EUR 5,075.6 million (19% of GDP), compared to a deficit of EUR 3,628.2 million (14.5% of GDP) for the same period in 2006.
Exports (FOB) amounted to EUR 9,729.1 million against EUR 8,924 million for the same period in 2006. Imports (FOB) amounted to EUR 14,804.7 million, against EUR 12,552.2 million for January – September period in 2006.

The balance on the Services item was positive, amounting to EUR 1,325.4 million (5% of GDP), against a positive balance amounting to EUR 997.9 million (4% of GDP) for the same period in 2006.

Income (net) item was negative amounting to EUR 175.6 million compared to a positive item of EUR 35.1 million for the same period in 2006. Income receivable (EUR 1,130 million) increased by EUR 201 million compared to January – September 2006 (EUR 929 million). Income payable (EUR 1,305.6 million) increased by EUR 411.7 million compared to January – September 2006 (EUR 893.9 million).

Net Current transfers amounted to EUR 250.7 million (0.9% of GDP) against EUR 495 million (2% of GDP) for the same period in 2006.
The Capital account balance amounted to EUR 104 million, compared to a positive balance of EUR 118.5 million for the same period in 2006.

The Financial account balance was positive amounting to EUR 7,258.8 million, compared to a positive balance of EUR 3,659.5 million for the same period in 2006.

Foreign direct investment abroad was EUR 126.6 million against EUR 65.8 million for the same period in 2006. Foreign direct investment in Bulgaria1 was EUR 3,807.4 million (14.2% of GDP) against EUR 2,985.3 million (11.9% of GDP) for the same period in 2006. The direct investment covered 103.6% of the current account deficit against 142.1% for January – September 2006.
Portfolio investment - assets decreased by EUR 162.4 million, compared to an increase of EUR 89.6 million for the same period in 2006. Portfolio investment – liabilities decreased by EUR 369.6 million, also due to repayment, at the end of February 2007, of global bonds issued by the government. In the period January – September 2006, the liabilities increased by EUR 198.8 million.

Other investment – assets decreased by EUR 697.3 million, compared to an increase of EUR 1,837.6 million for the same period in 2006. Other investment – liabilities increased by EUR 3,095.1 million against an increase of EUR 2,468.4 million for January – September 2006.

The item Net errors and omissions was negative, amounting to EUR 701.3 million. For the same period in 2006 the item was negative amounting to EUR 392.1 million.

The Overall balance was positive, amounting to EUR 2,986.4 million compared to a positive overall balance of EUR 1,285.7 million for the same period in 2006. In the period January – September 2007 the BNB reserve assets2 increased by EUR 2,731.1 million.