site.btaBulgaria Posts EUR 488.6 Mln Trade Deficit for January 2024 - Central Bank

The balance on goods recorded a deficit of EUR 488.6 million (0.5% of GDP) in January 2024, compared with a deficit of EUR 286.5 million (0.3% of GDP) in January 2023, the Bulgarian National Bank reported here on Thursday. The exports of goods amounted to EUR 3,201.1 million (3.2% of GDP) in January 2024, decreasing by EUR 434.8 million (12%) from EUR 3,635.8 million (3.9% of GDP) in January 2023.

The imports of goods amounted to EUR 3,689.7 million (3.6% of GDP) in January 2024, decreasing by EUR 232.7 million (5.9%) from January 2023 (EUR 3,922.4 million or 4.2% of GDP). Services recorded a positive balance of EUR 436.1 million (0.4% of GDP) in January 2024, compared with a surplus of EUR 360.4 million (0.4% of GDP) in January 2023.

The current and capital account recorded a positive balance of EUR 42.1 million (0.04% of GDP) in January 2024, compared with a deficit of EUR 224.8 million (0.2% of GDP) in January 2023.

The capital account recorded a positive balance of EUR 45.7 million (0.05% of GDP), compared with a surplus of EUR 42.8 million (0.05% of GDP) in January 2023. The financial account recorded a negative balance of EUR 424.7 million (0.4% of GDP), compared with a negative balance of EUR 199.9 million (0.2% of GDP) in January 2023.

Foreign direct investment in Bulgaria (under the directional principle) grew by EUR 111.6 million (0.1% of GDP) in January 2024 according to preliminary data, compared with an increase of EUR 416.8 million (0.4% of GDP) in January 2023.