In April 2025, Bulgaria recorded a current account deficit of 724.9 million euros, marking the largest monthly shortfall since January 2022, according to the latest data from the Bulgarian National Bank (BNB). This figure contrasts with a deficit of 505.8 million euros in the same month last year. Over the first four months of 2025, the current account deficit expanded sharply to 2.2223 billion euros, nearly tripling from the 771.8 million euros reported during the same period in 2024.

The broader current and capital account combined also showed a negative balance, reaching 622.2 million euros in April 2025. This compares with a deficit of 363.8 million euros recorded in April 2024. For January through April, the cumulative deficit widened significantly to 1.6727 billion euros, a stark reversal from a modest surplus of 24.2 million euros seen during the same months last year.

Trade figures contributed notably to the deficit. The trade balance remained in the red at 824.8 million euros in April, almost doubling from 460.9 million euros in April 2024. Exports of goods declined by 9.1%, falling by 340.3 million euros to 3.38 billion euros, while imports edged higher by 0.6%, rising 23.7 million euros to 4.20 billion euros. For the first four months of the year, the trade deficit expanded dramatically to 2.92 billion euros, up from 1.51 billion euros a year earlier. Exports dropped by nearly 542 million euros (down 3.9%) to 13.42 billion euros, while imports rose by 871.7 million euros (up 5.6%) to 16.34 billion euros.

The financial account posted a negative result in April, recording a deficit of 772.2 million euros, a significant downturn from a surplus of 397.7 million euros in April 2024. For the year to date, the financial account deficit deepened to 1.80 billion euros, compared to a smaller deficit of 421 million euros over the same period last year.

On a more positive note, the capital account remained in surplus, albeit reduced. In April, it registered 102.7 million euros, down from 142 million euros a year earlier. Year-to-date figures show a surplus of 549.6 million euros, lower than the 796 million euros recorded in the first four months of 2024.

Foreign direct investment (FDI) into Bulgaria decreased in April by 114.3 million euros, an improvement compared to a drop of 222.3 million euros in April 2024. However, cumulative FDI inflows for January through April grew to 1.12 billion euros, up from 875.9 million euros in the same period last year.

This data shows that Bulgaria is facing a growing gap between the money it spends abroad and what it earns from exports and investments, with the current account and trade deficits widening significantly. This means the country is importing much more than it exports, and foreign investments are slowing down.

For the Bulgarian society, this signals economic challenges ahead, as a sustained deficit can lead to increased borrowing and financial pressure. With Bulgaria preparing to adopt the euro, these imbalances could complicate the transition, requiring careful management to avoid putting additional strain on the economy and citizens’ living standards during and after joining the eurozone.

Source: BNB