3-mo current account deficit widened to EUR 0.9bn

19.05.2022 Source: BNB; FFBH

Mar’22 current account was negative and amounted to EUR 347.4m (+48.4% YoY). As a result, YtD balance widened to negative EUR 946.7m (1.3% of GDPe), compared to a surplus of EUR 35.2m a year ago. Total exports (14.2% of GDPe) for the first 3 months of 2022 increased 36% YoY to EUR 10.7bn, while imports during the same period (15.8% of GDPe) jumped 41.8% YoY to EUR 11.9bn. The result was EUR 1.2bn trade deficit (+131.2% YoY) representing 1.6% of GDPe. Jan-Mar services balance recorded a surplus of EUR 0.9bn (1.2% GDPe), registering a 15.4% YoY increase. 3-mo capital account closed at a EUR 394m deficit (+38% YoY), while the financial account was at negative at EUR 482.7m. March FDI registered an inflow of EUR 112.5m (+171% YoY) bringing YtD FDI to a EUR 1.1bn inflow, compared to an increase of EUR 0.2bn in the year-ago period. *exp. 2022 GDP of EUR 75.01bn and 2021 GDP of EUR 67.87bn.