site.btaBulgaria Runs Foreign Trade Deficit of EUR 5.5 Bln in 2024

Bulgaria's balance on goods in 2024 was in negative territory, at minus EUR 5,470.5 million (5.3% of GDP), compared with a deficit of EUR 3,927.1 million (4.1% of GDP) in 2023, the Bulgarian National Bank said on Tuesday. In December 2024, the balance on goods recorded a deficit of EUR 724 million, compared with a deficit of EUR 554.7 million in December 2023.

Exports of goods in 2024 totalled EUR 42,434.4 million (41.5% of GDP), dropping by EUR 1,105.2 million (2.5%) year-on-year (from EUR 43,539.6 million, 46% of GDP). In 2023, exports decreased by 7.6% year-on-year. In December 2024, exports of goods amounted to EUR 3,180.8 million, decreasing by EUR 80.7 million (2.5%) from December 2023.

Imports of goods in 2024 totalled EUR 47,904.9 million (46.8% of GDP), growing by EUR 438.2 million (0.9%) from 2023 (EUR 47,466.7 million, 50.1% of GDP). In 2023, imports decreased by 9.1% year-on-year. In December 2024, imports of goods amounted to EUR 3,904.8 million, increasing by EUR 88.5 million (2.3%) from December 2023.

Services recorded a surplus of EUR 7,511.8 million (7.3% of GDP) in 2024, compared with a positive balance of EUR 7,812.5 million (8.2% of GDP) in 2023. In December 2024, services recorded a positive balance of EUR 448.9 million, compared with a surplus of EUR 597 million in December 2023.

The current and capital account in 2024 was positive amounting to EUR 2,045.7 million (2% of GDP), compared with a positive balance of EUR 2,311.9 million (2.4% of GDP) in 2023. In December 2024, the current and capital account recorded a negative balance of EUR 115.2 million, compared with a surplus of EUR 606.9 million in December 2023.

The capital account recorded a positive balance of EUR 1,820.6 million (1.8% of GDP) in 2024, compared with a positive balance of EUR 1,473.3 million (1.6% of GDP) in 2023. In December 2024, the capital account recorded a positive balance of EUR 344 million, compared with a surplus of EUR 261.5 million in December 2023.

The financial account recorded a net outflow of EUR 722 million (0.7% of GDP) in 2024, compared with an inflow of EUR 2,261.5 million (2.4% of GDP) in 2023. In December 2024, the financial account recorded a positive balance of EUR 210.5 million, compared with a positive balance of EUR 1,151.3 million in December 2023.