Bulgaria’s current account deficit came to EUR 707.3 million for the period from January to March 2005, up by 41.6% compared to the first quarter last year, according to data provided by the Central Bank. The gap this first quarter accounts for 3.3% of the country's GDP. Current account was in the red by EUR 235.9 million for March alone, as compared to a gap of EUR 140.2 million for the corresponding month in 2004. Bulgaria's foreign trade deficit came to EUR 651.6 million for the first three months of the year, a 28.1% year-on-year rise. Country's exports saw a 20.8% year-on-year augmentation to EUR 2.078 billion, while the imports marked a 22.5% jump to EUR 2.729 billion. According to preliminary data, foreign direct investments to Bulgaria amounted to EUR 289.1 million, down by 20.3% as compared to the situation last year. FDI cover 40.9% of the country's current account gap for the first quarter this year, against 72.6% for the corresponding period last year. Bulgaria's direct investments abroad reached EUR 15.6 million, compared to EUR 8.3 million last year. Central Bank's forex reserves dropped by EUR 146.7 million over the first three months of 2005.