site.btaTrade Balance for June Negative at EUR 52.2 Mln - Central Bank

The balance on goods recorded a deficit of EUR 52.2 million in June 2023, compared with a deficit of EUR 486.7 million in June 2022, the Bulgarian National Bank reported on Thursday. In January – June 2023 the balance on goods was negative amounting to EUR 1.0546 billion (1.1% of GDP), compared with a deficit of EUR 1.7726 billion (2.1% of GDP) in January – June 2022.

Exports of goods amounted to EUR 3.8457 billion in June 2023, decreasing by EUR 491.5 million (11.3%) from EUR 4.3372 billion in June 2022. In January – June 2023 exports of goods totalled EUR 22.4699 billion (23.5% of GDP), decreasing by EUR 272.6 million (1.2%) year-on-year (from EUR 22.7425 billion, 26.9% of GDP). In January – June 2022 exports increased by 39.8% year-on-year.

Imports of goods amounted to EUR 3.8979 billion in June 2023, decreasing by EUR 925.9 million (19.2%) from June 2022 (EUR 4.8238 billion). In January – June 2023 imports of goods totalled EUR 23.5245 billion (24.6% of GDP), decreasing by EUR 990.6 million (4%) from January – June 2022 (EUR 24.5151 billion, 29% of GDP). In January – June 2022 imports increased by 42% year-on-year.

Services recorded a positive balance of EUR 594.7 million in June 2023, compared with a surplus of EUR 511.8 million in June 2022. In January – June 2023 services recorded a surplus of EUR 2.5319 billion (2.6% of GDP), compared with a positive balance of EUR 2.2214 billion (2.6% of GDP) in the same period of 2022.

The current and capital account recorded a surplus of EUR 907.7 million in June 2023, compared with a surplus of EUR 84.8 million in June 2022. In January – June 2023 the current and capital account was positive amounting to EUR 1.2495 billion (1.3% of GDP), compared with a deficit of EUR 202.3 million (0.2% of GDP) in January – June 2022.

The current account was positive amounting to EUR 790.4 million in June 2023, compared with a positive balance of EUR 202 million in June 2022. In January – June 2023 the current account was positive and amounted to EUR 723.3 million (0.8% of GDP), compared with a surplus of EUR 190.1 million (0.2% of GDP) in January – June 2022.

The capital account recorded a positive balance of EUR 117.3 million, compared with a negative balance of EUR 117.2 million in June 2022. In January – June 2023 the capital account recorded a positive balance of EUR 526.2 million (0.6% of GDP), compared with a negative balance of EUR 392.4 million (0.5% of GDP) in January – June 2022.

The financial account recorded a positive balance of EUR 971.1 million, compared with a positive balance of EUR 552.7 million in June 2022. In January – June 2023 the financial account recorded a net inflow of EUR 590.5 million (0.6% of GDP), compared with an inflow of EUR 827.9 million (1% of GDP) in January – June 2022.

Foreign direct investment in Bulgaria (under the directional principle) increased by EUR 242.9 million in June 2023 according to preliminary data, compared with a decline of EUR 6.6 million in June 2022. In January – June 2023 foreign direct investment in Bulgaria grew by EUR 1.7964 billion, compared with an increase of EUR 916.1 million in January – June 2022.