Bulgaria's Current and Capital account deficit stood at EUR 7,211.7 million (21.2% of GDP) In the period January - November 2008, against a deficit of EUR 5,083 million (17.6% of GDP) for the same period in 2007, data of the Bulgarian National Bank (BNB) showed.

In November 2008 the Current account was negative and amounted to EUR 838.2 million, compared to a negative account of EUR 752.4 million for the same month in 2007. The increase of the current account deficit was mainly due to the year on year decrease of item Income, net to a deficit of EUR 69 million in November 2008.

In the period January - November 2008, the current account deficit was EUR 7,465.8 million (21.9% of GDP), against a deficit of EUR 5,362.7 million (18.6% of GDP) for the same period in 2007. Main factors for the increase of the current account deficit were the higher (by EUR 1,689 million) trade deficit and the higher (by EUR 609.9 million) income deficit.

The trade deficit in January - November 2008 amounted to EUR 8,178.5 million (24% of GDP), compared to a deficit of EUR 6,489.6 million (22.5% of GDP) for the same period in 2007. In November 2008 the trade deficit amounted to EUR 747.2 million, compared to a deficit of EUR 800.7 million for the same month in 2007.

Exports (FOB) amounted to EUR 14,328.7 million against EUR 12,402.4 million for the same period in 2007, increasing by 15.5% year on year against 12.4% for the same period in 2007. In November 2008 exports (FOB) amounted to EUR 1,077.6 million against EUR 1,267.9 million for the same period in 2007, decreasing by 15% year on year against a 20.9% year on year increase for the same month in 2007.

Imports (FOB) amounted to EUR 22,507.3 million, against EUR 18,891.9 million for January - November period in 2007, increasing by 19.1% yoy against 19.4% for the same period in 2007. In November 2008 imports (FOB) amounted to EUR 1,824.8 million, against EUR 2,068.6 million in November 2007, decreasing by 11.8% year on year against a year on year increase of 27.7% for the same month in 2007.

The balance on the Services item was positive, amounting to EUR 1,148.4 million (3.4% of GDP), against a positive balance amounting to EUR 1,157.9 million (4% of GDP) for the same period in 2007.

Income (net) item was negative amounting to EUR 939.3 million compared to a negative item of EUR 329.4 million for the same period in 2007. In November 2008 the balance on the item was negative amounting to EUR 69 million compared to a positive balance of EUR 32.2 million for the same month in 2007.

Net Current transfers amounted to EUR 503.7 million (1.5% of GDP) against EUR 298.5 million (1% of GDP) for the same period in 2007. In November 2008 the item Current transfers, net was negative amounting to EUR 4.9 million against a positive item of EUR 52.9 million for the same month in 2007.

The Capital account balance was positive amounting to EUR 254.1 million, compared to a positive balance of EUR 279.7 million for the same period in 2007.

The Financial account balance was positive amounting to EUR 10,926.1 million, compared to a positive balance of EUR 10,076.1 million for the same period in 2007.

Foreign direct investment abroad was EUR 444.9 million against EUR 161.7 million for the same period in 2007. Foreign direct investment in Bulgaria was EUR 5,274.6 million (15.5% of GDP) against EUR 5,963.3 million (20.6% of GDP) for the same period in 2007. The direct investment covered 70.7% of the current account deficit against 111.2% for January - November 2007.

Portfolio investment - assets increased by EUR 156.3 million, compared to a decrease of EUR 39.4 million for the same period in 2007. Portfolio investment - liabilities decreased by EUR 403.6 million. In the period January - November 2007, the liabilities decreased by EUR 278.4 million. In November 2008, the liabilities decreased by EUR 136.7 million against an increase of EUR 68.3 million in the same month of 2007.

Other investment - assets decreased by EUR 597.9 million, compared to an increase of EUR 62.3 million for the same period in 2007. In November 2008 other investment - assets decreased by EUR 298 million, compared to an increase of EUR 344.6 million in the same month of 2007.

Other investment - liabilities increased by EUR 6,164.3 million against an increase of EUR 4,614.1 million for January - November 2007. In November 2008 other investment - liabilities increased by EUR 442.1 million, compared to an increase of EUR 947.4 million in the same month of 2007.

The item Net errors and omissions was negative, amounting to EUR 1,479.8 million. For the same period in 2007 the item was negative amounting to EUR 1,700.3 million. In November 2008 the item was positive, amounting to EUR 48.1 million against a negative item amounting to EUR 343.5 million in November 2007.

The Overall balance was positive, amounting to EUR 2,234.7 million compared to a positive overall balance of EUR 3,292.9 million for the same period in 2007. In the period January - November 2008 the BNB reserve assets increased by EUR 2,234.7 million.