€ 600 Million More Foreign Investments in Bulgaria since the Beginning of the Year

Business | October 18, 2019, Friday // 16:09| Views: | Comments: 0
Bulgaria: € 600 Million More Foreign Investments in Bulgaria since the Beginning of the Year www.pixabay.com

In August 2019, Bulgaria's current account surplus exceeded EUR 1.1 billion, while foreign direct investment increased by EUR 76 million, but with a total increase of over EUR 600 million since the beginning of the year, BNB data on Bulgaria’s balance of payments show, BNR reported.

The balance on the current and capital account of Bulgaria in August was positive and amounted to EUR 1.249 billion, compared to a surplus of EUR 1.1577 billion just a year ago (in August 2018). For the first eight months of the year, the current and capital account surplus of EUR 4.8127 billion against a much more modest positive balance of EUR 2.8007 billion in the same period of 2018.

The current account balance in August alone was positive and amounted to EUR 1.1756 billion, with a surplus of EUR 1.0229 billion exactly a year earlier. For the period January - August 2019, the current account surplus rose to EUR 4.1502 billion, compared to a surplus of EUR 2.4133 billion in the same period last year, according to the latest data from the BNB.

Bulgaria’s trade balance in August was positive and amounted to EUR 155.1 million against a deficit of EUR 22.4 million in the same month a year earlier, with exports of goods increasing by EUR 106.6 million ( increase by 4.6%) to EUR 2.444 billion, while imports decreased by EUR 70.9 million (by 3%), reaching EUR 2.2889 billion.

Within the first eight months of this year, the trade balance is in deficit of EUR 372.4 million (0.6% of GDP), but with a deficit of EUR 1.1997 billion (2.2% of GDP) in the same period of 2018. At the same time, exports of goods increased by EUR 859.1 million (by 4.8%) to EUR 18.9201 billion between January and August, while imports of goods increased by EUR 31.8 million over the same period. (by 0.2%) to EUR 19.2925 billion.

According to BNB data, the financial account in August was positive and amounted to EUR 689.5 million, with a surplus of EUR 444.6 million a year earlier, from the beginning of the year the surplus in the financial account amounted to 2.4604 billion (4.2% of GDP) against a positive value of € 2.4141 billion in January-August 2018.

Foreign direct investment in the country rose by EUR 76 million in August, but increased by EUR 237.7 million a year earlier, rising by EUR 196.3 million in the first eight months of the year. EUR 407.2 million in January - August 2018.

The largest net direct investments in Bulgaria in the first eight months of this year came from the Netherlands (EUR 241.9 million), followed by Germany (EUR 191.4 million) and the United Kingdom (EUR 108.6 million).

In August 2019, the BNB reserves decreased by EUR 900.6 million, increasing by EUR 117 million a year earlier, and in the first eight months of this year they decreased by EUR 745.8 million by EUR 374.6 million in January - August 2018.

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Tags: investments, foreign, BNB, account surplus, Bulgaria, balance
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