Bulgaria's Current and Capital account deficit stood at EUR 1,280.8 million (3.9% of GDP) in the period January – February 2008, against a deficit of EUR 1,092.1 million (3.8% of GDP) for the same period in 2007, data of the Bulgarian National Bank (BNB) show.

The current account showed a EUR 594.3 million deficit in February, compared to a EUR 472.8 million deficit for the same month in 2007. In the period January – February 2008, the current account deficit was EUR 1,292.1 million (3.9% of GDP), against a deficit of EUR 1,112.5 million (3.9% of GDP) for the same period in 2007. The main factor for the increase of the current account deficit was the higher (by EUR 153.7 million) trade deficit, BNB data revealed.

The trade deficit amounted to EUR 1,206.8 million (3.7% of GDP) in January – February 2008, compared to a deficit of EUR 1,053.1 million (3.7% of GDP) for the same period in 2007.

Exports (FOB) amounted to EUR 2,320.2 million, against EUR 1,774.7 million for the same period in 2007. Imports (FOB) totaled EUR 3,527 million, against EUR 2,827.8 million for January – February period in 2007.

The balance on the Services item was negative, amounting to EUR 137.4 million (0.4% of GDP), compared to a negative balance amounting to EUR 62.1 million (0.2% of GDP) for the same period in 2007.

Income (net) item was positive amounting to EUR 83 million compared to a negative item of EUR 20.6 million for the same period in 2007. Income receivable (EUR 295.5 million) increased by EUR 52.6 million compared to January – February 2007 (EUR 243 million). Income payable (EUR 212.6 million) decreased by EUR 51 million compared to January – February 2007 (EUR 263.6 million).

Net Current transfers payments amounted to EUR 30.8 million (0.1% of GDP) against net receipts of EUR 23.3 million (0.1% of GDP) for the same period in 2007.

The Capital account balance was positive amounting to EUR 11.2 million, compared to a balance of EUR 20.4 million for the same period in 2007.

The Financial account balance was positive amounting to EUR 935.5 million, compared to a positive balance of EUR 851.9 million for the same period in 2007.

Foreign direct investment abroad rose by EUR 28.8 million against a decrease of EUR 19 million for the same period in 2007. Foreign direct investment in Bulgaria totaled EUR 432.3 million (1.3% of GDP) against EUR 374.9 million (1.3% of GDP) for the same period in 2007. The direct investment covered 33.5% of the current account deficit against 33.7% for January – February 2007.

Portfolio investment - assets decreased by EUR 78 million, compared to an increase of EUR 18.9 million for the same period in 2007. Portfolio investment – liabilities decreased by EUR 1.9 million and in the period January – February 2007 they decreased by EUR 134.5 million.

Other investment – assets decreased by EUR 898.5 million, compared to a decrease of EUR 535.6 million for the same period in 2007. Other investment – liabilities decreased by EUR 433.1 million against an increase of EUR 86.5 million for January – February 2007.

The item Net errors and omissions was negative, amounting to EUR 28.7 million. For the same period in 2007 the item was negative amounting to EUR 188.9 million.

The Overall balance was negative, amounting to EUR 374.1 million compared to a negative overall balance of EUR 429.1 million for the same period in 2007. BNB's reserve assets decreased by EUR 374.1 million In the period January – February 2008.