9-mo current account closed at a positive balance of EUR 114.4m

17.11.2023 Source: BNB; FFBH

September’23 current account was in red territory and amounted to negative EUR 333.2m, compared to negative EUR 533.5m in Sept’22. The YtD positive balance shrank to EUR 114.4m (0.1% of GDPe), compared with a deficit of EUR 294.2m a year ago. Total exports (33.6% of GDPe) for the Jan-Sept period decreased 9.8% YoY to EUR 32.1bn, while imports during the same period (36.4% of GDPe) fell 10.4% YoY to EUR 34.8bn. The result was EUR 2.6bn trade deficit, compared to EUR 3.2bn a year ago. Jan-Sept services balance recorded a surplus of EUR 5.1bn (5.3% of GDPe), registering a 22.9% YoY increase. 9-mo capital account closed at a EUR 834.1m surplus (0.9% of GDPe), while the financial account recorded a EUR 664.1m outflow (0.7% of GDPe). September FDI in the country increased by BGN 423.4m, bringing YtD FDI inflow to EUR 3.2bn, up by EUR 1bn compared to the year-ago period. *exp. 2023 GDP of EUR 95.6bn and 2022 GDP of EUR 85.8bn.