11-mo current account surplus decrease 82.9% YoY; YtD FDI drop 31.1% YoY
20.01.2021
Source: BNB; FFBH
The Nov’20 current account deficit amounted to EUR 278.3m, compared to EUR 95.1m surplus a year ago. YtD surplus amounted to EUR 373.4m (0.6% of GDPe), a 82.9% decrease YoY. Total exports (41.4% of GDPe) for the first 11 months of 2020 fell 7.7% YoY to EUR 24.9bn, while imports during the same period (43.8% of GDPe) dropped 10% YoY to EUR 26.4bn. The result was EUR 1.5bn trade deficit (-36.1% YoY) representing 2.4% of GDPe. Jan-Nov services balance recorded a surplus of EUR 2.6bn (4.3% GDPe), registering a 44.4% YoY slump. 11-mo capital account closed at a EUR 881.4m surplus (+10.1% YoY), while the financial account was at positive EUR 3.3bn (+35.8% YoY). November FDI amounted to EUR 122m bringing YtD FDI to EUR 843.9m (-31.1% YoY).
*exp. 2020 GDP of EUR 60.3bn and 2019 GDP of EUR 61.2bn.