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2019 current account surplus reaches 9.7% of GDP on improvement of both trade and services

Dec’19 current account balance was positive at EUR 24m bringing 2019 figure to EUR 5.9bn (9.7% of GDPe*), up by 96.6% YoY. 2019 exports grew 4.1% YoY to EUR 28.9bn, while imports during the same period declined by 2% YoY to EUR 29bn, resulting in EUR 128m trade deficit (0.2% of GDP; 2018 trade deficit of BGN 1.9bn). Services recorded a surplus of EUR 4bn, up by 12.7% YoY. 2019 capital account closed at a EUR 1bn surplus (+58.6% YoY), while the financial account was positive at EUR 3.5bn (+8.2% YoY). 2019 FDI’s amounted to EUR 630m (+17.3% YoY), registering a decline by EUR 167m in December alone. *exp. 2019 GDP of EUR 61.1bn and 2018 GDP of EUR 56.1 bn.

Source: BNB; FFBH

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