Bulgaria's Imports Improve in March Y/Y – BNB

Business » FINANCE | May 15, 2014, Thursday // 16:32| Views: 1062 | Comments: 0
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Bulgaria: Bulgaria's Imports Improve in March Y/Y – BNB Bulgarian National Bank in Sofia. Photo by BGNES.

The current and capital account recorded a surplus of EUR 368.3M in March 2014, compared with a surplus of EUR 105.7M in March 2013.

In January – March 2014 the current and capital account was positive amounting to EUR 72.1M (0.2% of GDP) against a deficit of EUR 395.1M (1% of GDP) in January – March 2013, Bulgarian National Bank (BNB) latest data on balance of payments revealed.

The current account recorded a surplus of EUR 322.6M in March 2014, compared with a surplus of EUR 92.5M in March 2013. The positive balance of the current account resulted from the surplus on current transfers (EUR 658.5M).

Exports (FOB) amounted to EUR 1,620.7M in March 2014, dropping by EUR 157.3M (8.8%) from March 2013 (EUR 1,778M). In January – March 2014 exports (FOB) totaled EUR 4,853.4M, down by EUR 359.2M (6.9%) year-on-year. In January – March 2013 exports grew by 12.8% year-on-year.

Imports (FOB) amounted to EUR 1,907.2M in March 2014, growing by EUR 25.2M (1.3%) from March 2013 (EUR 1,882M). In January – March 2014 imports (FOB) totaled EUR 5,679M, rising by EUR 17.6M (0.3%) from January – March 2013 (EUR 5,661.4M). In January – March 2013 imports increased by 2.8% on a year-on-year basis.

Direct investment abroad increased by EUR 8.3M compared with EUR 7.4M in March 2013. In January – March 2014 direct investment abroad totaled EUR 23M, compared with EUR 17.1M in the same period of 2013.

Foreign direct investment in Bulgaria recorded a net outflow of EUR 1M in March 2014, compared with an inflow of EUR 149.6M in March 2013. In January – March 2014 the foreign direct investment in the country totaled EUR 88.9M (0.2% of GDP), compared with EUR 372.9M (0.9% of GDP) in the same period of 2013.

The BNB reserve assets rose by EUR 398.9M, against an increase of EUR 525.4M in March 2013. In January – March 2014 they declined by EUR 553.3M, compared with a decline of EUR 1, 044.8M in the same period of 2013.

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Tags: Bulgarian National Bank, BNB, exports, imports, capital account, balance of payments, direct investment
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