site.btaBulgaria Incurs Foreign Trade Deficit of EUR 239.5 Mln in July

In July 2024, Bulgaria incurred a foreign trade deficit of EUR 239.5 million, compared with a deficit of EUR 188.3 million in July 2023, the Bulgarian National Bank reported on Thursday.

Between January and July 2024, the county's foreign trade showed a deficit of EUR 2.625 billion (2.6% of GDP), compared with a deficit of EUR 1.664 billion (1.8% of GDP) between January and July 2023.

Exports from Bulgaria in July 2024 stood at EUR 4.035 billion, growing by 10% compared with July 2023. Between January and July 2024, exports amounted to EUR 25.083 billion (25% of GDP), falling by 2.7% compared with January to July 2023.

Imports to Bulgaria in July 2024 were EUR 4.27 billion, going up by 10.8% compared with July 2023. Between January and July 2024, imports totalled EUR 27.708 billion (27.7% of GDP), increasing by 1% compared with January to July 2023.

The balance on services in July 2024 was in positive territory, at EUR 936.6 million, compared with a surplus of EUR 1.008 billion in July 2023. Between January and July 2024, the balance on services was plus EUR 4.177 billion euro (4.2% of GDP), compared with a surplus of EUR 4.268 billion (4.5% of GDP) in January to July 2023.

Bulgaria's current and capital account in July 2024 showed a surplus of EUR 1.060 billion, compared with a surplus of EUR 517.2 million in July 2023. Between January and July 2024, the current and capital account showed a surplus of EUR 1.665 billion (1.7% of projected GDP), compared with a surplus of EUR 1.585 billion (1.7% of GDP) in January to July 2023.

The current account in July 2024 recorded a surplus of EUR 836.6 million, compared with a surplus of EUR 338.1 million in July 2023. Between January and July 2024, the current account had a surplus of EUR 484.8 million (0.5% of GDP), compared with a surplus of EUR 685.2 million (0.7% of GDP) in January to July 2023.

The capital account in July 2024 showed a surplus of EUR 223.7 million, compared with a surplus of EUR 179 million in July 2023. Between January and July 2024, the capital account had a surplus of EUR 1.180 billion (1.2% of GDP), compared with a surplus of EUR 899.7 million (1% of GDP) from January to July 2023.

The financial account in July 2024 recorded a surplus of EUR 490.3 million, compared with a surplus of 452.8 million in July 2023. Between January and July 2024, the financial account showed a surplus of EUR 151.6 million (0.2% of GDP), compared with a surplus of EUR 1.266 billion (1.3% of GDP) in January to July 2023.

Foreign direct investment in the Bulgarian economy (under the directional principle) in July 2024 increased by EUR 171.6 million, compared with an increase of EUR 569 million in July 2023. Between January and July 2024, foreign direct investment grew by EUR 604.3 million, compared with an increase of EUR 2.513 billion in January to July 2023.