11-mo current account surplus narrowed to EUR 1bn

20.01.2025 Source: BNB; FFBH

Nov’24 current account was negative at EUR 278.7m, compared to EUR 229.7m deficit in Nov’23. As a result, the YtD positive balance contracted to EUR 1bn (1% of GDPe), compared with a surplus of EUR 0.4bn a year ago. Total exports (38.5% of GDPe) for the Jan-Nov period decreased 2.4% YoY to EUR 39.3bn, while imports during the same period (43.2% of GDPe) increased 0.9% YoY to EUR 44bn. The result was EUR 4.7bn trade deficit, compared to EUR 3.4bn a year ago. Meanwhile, the services balance recorded a surplus of EUR 7.1bn (6.9% of GDPe), registering a 2.1% decrease compared to a year ago. 11-mo capital account closed at a EUR 1.6bn surplus (1.5% of GDPe), while the financial account recorded EUR 1bn inflow. November FDI in the country registered BGN 243m inflow, which brings the FDI since the beginning of the year to positive EUR 1.5bn, down by 56.3% compared to the year-ago period. *exp. 2024 GDP of EUR 101.99bn and 2023 GDP of EUR 94.71bn.