Bulgaria's Current and Capital account deficit stood at EUR 2,102.1 million (6.3% of GDP) in the period January - November 2009, against a deficit of EUR 7,433.5 million (21.8% of GDP) for January - November 2008, data of the Bulgarian National Bank (BNB) show.

In November 2009 the Current account was negative and amounted to EUR 176.8 million, compared to a negative account of EUR 861 million for November 2008. Main factors for the decrease of the current account deficit compared to November 2008 were the lower deficit on trade balance (by EUR 521 million) and the increase of income balance (by EUR 119.6 million).

In the period January - November 2009, the current account deficit was EUR 2,555.7 million (7.6% of GDP), against a deficit of EUR 7,687.6 million (22.5% of GDP) for January - November 2008. Main factors for the current account deficit decrease were the lower (by EUR 4,229.3 million) trade deficit, the lower (by EUR 414 million) income deficit, as well as the service balance increase (by EUR 529.2 million).

The trade deficit in January - November 2009 amounted to EUR 3,727 million (11.1% of GDP), compared to a deficit of EUR 7,956.2 million (23.3% of GDP) for January - November 2008. In November 2009 the trade deficit amounted to EUR 226.3 million, compared to a deficit of EUR 747.3 million for November 2008.

Exports (FOB) amounted to EUR 10,803 million against EUR 14,268.9 million for January - November 2008, decreasing by 24.3% year on year against a growth rate yoy of 15% for January - November 2008. In November 2009 exports (FOB) amounted to EUR 1,112.2 million against EUR 1,071.9 million for November 2008, increasing by 3.8% year on year against a year on year decrease of 15.5% for November 2008. Imports (FOB) amounted to EUR 14,529.9 million, against EUR 22,225.2 million for the January - November period in 2008, decreasing by 34.6% year on year against a growth rate yoy of 18% for January - November 2008. In November 2009 imports (FOB) amounted to EUR 1,338.5 million, against EUR 1,819.2 million in November 2008, decreasing by 26.4% yoy against a decline yoy of 11.8% for November 2008. The balance on the Services item was positive, amounting to EUR 1,367.4 million (4.1% of GDP), against a positive balance amounting to EUR 838.1 million (2.5% of GDP) for January - November 2008. In November 2009 the balance on the item was positive amounting to EUR 5.6 million compared to a negative balance of EUR 19 million for November 2008.

Income (net) item was negative amounting to EUR 657.6 million compared to a negative item of EUR 1,071.6 million for January - November 2008. In November 2009 the balance on the item was positive amounting to EUR 27.2 million

compared to a negative balance of EUR 92.4 million for November 2008.

Net Current transfers amounted to EUR 461.5 million (1.4% of GDP) against EUR 502.1 million (1.5% of GDP) for January - November 2008. In November 2009 the item Current transfers, net was positive amounting to EUR 16.7 million against a negative item of EUR 2.3 million for November 2008.

The Capital account3 balance was positive amounting to EUR 453.7 million, compared to a positive balance of EUR 254.1 million for January - November 2008.

The Financial account balance was positive amounting to EUR 2,245.4 million, compared to a positive balance of EUR 11,732.7 million for January - November 2008.

Foreign direct investment abroad was EUR 107.9 million against EUR 477.2 million for January - November 2008.

Foreign direct investment in Bulgaria4,5 was EUR 2,630.3 million (7.8% of GDP) against EUR 6,049.8 million (17.7% of GDP) for January - November 2008. The direct investment covered 102.9% of the current account deficit against 78.7% for January - November 2008.

Portfolio investment - assets decreased by EUR 2.5 million, compared to an increase of EUR 104.1 million for January - November 2008. Portfolio investment - liabilities decreased by EUR 9.4 million. In the period January - November 2008, the liabilities decreased by EUR 392.4 million. In November 2009 portfolio investment - liabilities increased by EUR 8.9 million against a decrease of EUR 137.3 million in the same month of 2009.

Other investment - assets decreased by EUR 139.9 million, compared to a decrease of EUR 570.1 million for January - November 2008. In November 2009 other investment - assets decreased by EUR 126.2 million, compared to a decrease of EUR 256.1 million in November 2008. Other investment - liabilities decreased by EUR 399.5 million against an increase of EUR 6,192.3 million for January - November 2008. In November 2009 other investment - liabilities increased by EUR 46.5 million, compared to an increase of EUR 432.7 million in November 2008.

The item Net errors and omissions was negative, amounting to EUR 798.4 million. For January - November 2008 the item was negative amounting to EUR 2,064.5 million.

The Overall balance was negative, amounting to EUR 655.1 million compared to a positive overall balance of EUR 2,234.7 million for January - November 2008.

In the period January - November 2009 the BNB reserve assets6 decreased by EUR 655.1 million. In November 2009 the BNB reserve assets increased by EUR 159 million.