site.btaCurrent and Capital Account Shrinks in March 2023 - Central Bank

Current and Capital Account Shrinks in March 2023 - Central Bank
Current and Capital Account Shrinks in March 2023 - Central Bank
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The current and capital account of Bulgaria's balance of payments in March recorded a deficit of EUR 264.1 million against a deficit of EUR 386.5 million in March 2022, the Bulgarian National Bank said in balance of payments statistics for March 2023 published on the central bank's website. 

In January - March 2023 the current and capital account was negative amounting to EUR 186.2 million (0.2% of projected GDP), compared with a deficit of EUR 1,118.4 million (1.3% of GDP) in January – March 2022. 

The current account was negative amounting to EUR 338.2 million in March 2023, compared with a negative balance of EUR 224.8 million in March 2022. In January - March 2023 the current account was negative and amounted to EUR 401.2 million (0.4% of GDP), compared with a deficit of EUR 724.2 million (0.9% of GDP) in January - March 2022. 

The balance on goods recorded a deficit of EUR 96.7 million in March 2023, compared with a deficit of EUR 175.9 million in March 2022. In January - March 2023 the balance on goods was negative amounting to EUR 514.9 million (0.6% of GDP), compared with a deficit of EUR 1,001.6 million (1.2% of GDP) in January - March 2022. 

Exports of goods amounted to EUR 4,175.2 million in March 2023, increasing by EUR 134.8 million (3.3%) from EUR 4,040.4 million in March 2022. In January - March 2023 exports of goods totalled EUR 11,500.5 million (12.7% of GDP), growing by EUR 1,045.1 million (10%) year-on-year (from EUR 10,455.4 million, 12.4% of GDP). In January - March 2022 exports increased by 33.3% year-on-year

Imports of goods amounted to EUR 4,271.9 million in March 2023, increasing by EUR 55.7 million (1.3%) from March 2022 (EUR 4,216.3 million). In January - March 2023 imports of goods totalled EUR 12,015.4 million (13.3% of GDP), growing by EUR 558.5 million (4.9%) from January - March 2022 (EUR 11,457 million, 13.5% of GDP). In January - March 2022 imports increased by 38.2% year-on-year. 

Foreign direct investment in Bulgaria (under the directional principle) increased by EUR 903.3 million in March 2023 according to preliminary data, compared with an increase of EUR 420.4 million in March 20224. In January - March 2023 foreign direct investment in Bulgaria grew by EUR 1,498.8 million, compared with an increase of EUR 1,368.7 million in January - March 2022. 

The largest net direct investment inflows in Bulgaria for January - March 2023 were from Netherlands (EUR 520.6 million), Greece (EUR 119.4 million) and Italy (EUR 115.7 million), whereas the largest net outflows were to the Luxembourg (EUR 91.1 million) and Romania (EUR 39.3 million).  

According to preliminary data, direct investment abroad totalled EUR 145.4 million (0.2% of GDP), compared with EUR 160.5 million (0.2% of GDP) in January - March 2022. It recorded a positive value of EUR 36.8 million in March 2023, compared with a positive value of EUR 79.5 million in March 2022. 

/MT/

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By 11:37 on 28.03.2024 Today`s news

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