Bulgaria's Current Account Deficit At 2 136.1 Million Euros

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Bulgaria's Current Account Deficit At 2 136.1 Million Euros

In April 2007 Bulgaria's current account was negative and amounted to EUR 531.4 million, compared to a negative account at EUR 364.4 million for the same month in 2006, the National Statistics Institute (NSI) reports.

In the period January – April 2007 the current account deficit stood at EUR 2 136.1 million (8.0% of predicted GDP for 2007), against EUR 1 458.1 million (5.8% of GDP) a year ago. Trade deficit in January - April 2007 amounted to EUR 2 072.7 million, compared to EUR 1 391.8 million for the respective period in 2006.

In January - April 2007 exports of goods (FOB) amounted to EUR 3 863.9 million against EUR 3 667.6 million for the same period in 2006, and import of goods (FOB) stood at EUR 5 936.6 million, against EUR 5 059.4 million last year. In January - April 2007 direct investment abroad stood at EUR 39.4 million against EUR 23.3 million in 2006.

Foreign direct investment in Bulgaria amounts to EUR 1 154 million (4.3% of predicted GDP for 2007), against EUR 1 158.7 million (4.6% of GDP) for the same period in 2006. Foreign direct investment covered 54.0% of the current account deficit during January - April 2007 , while in 2006 it covered 79.5%.

In January - April 2007 portfolio investment-assets went down by EUR 12.9 million, while for the same period in 2006 an increase of EUR 101.8 million was registered. For the first four months of 2007 the portfolio investment-liabilities decreased by EUR 213.5 million, mainly due to the repayment of global government bonds. Last year portfolio investment-liabilities increased EUR 134.6 million for the respective period.

The external balance of goods and services in the first quarter of 2007 was negative. Imports of goods and services exceeded exports by 3 301.5 million leva. Commodity turnover in real terms increased by 8.6% for the period. Exports and imports of goods and services rose 2.2% and 13.2%, respectively.

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