11-mo current account stood at negative EUR 477.3m

19.01.2022 Source: BNB; FFBH

Nov’21 current account was negative and amounted to EUR 346.3m, compared to a deficit of EUR 271m in Nov’20. YtD balance was also negative amounting to EUR 477.3m (0.7% of GDPe), compared with a deficit of EUR 7.6m a year ago. Total exports (47.4% of GDPe) for the first 11 months of 2021 increased 24.5% YoY to EUR 31.2bn, while imports during the same period (51.7% of GDPe) jumped 27.3% YoY to EUR 34bn. The result was EUR 2.8bn trade deficit (+70.2% YoY) representing 4.3% of GDPe. Jan-Nov services balance recorded a surplus of EUR 4.0bn (6.1% GDPe), registering a 42.2% YoY increase. 11-mo capital account closed at a EUR 840.7m surplus (-2.3% YoY), while the financial account was at positive at EUR 2.9bn (+6.4% YoY). November FDI’s registered an inflow of EUR 130.6m (+101.2% YoY) bringing YtD FDI’s to an inflow of EUR 1.3bn, compared to an inflow of EUR 2.4bn in the year-ago period. *exp. 2021 GDP of EUR 65.7bn and 2020 GDP of EUR 61.3bn.