Bulgaria's current account balance reported a surplus of €163.8mn in January-April, reversing a deficit of €436mn in the same period last year, mainly on the back of surging exports that helped narrow the trade gap, preliminary central bank data showed. The four-month surplus is equal to 0.4% of GDP.
The merchandise trade deficit shrank 34.1% y/y to €911.1mn in the first four months of the year as exports jumped 15% y/y to €7.19bn and imports grew 6.1% y/y to €8.1bn. The services surplus climbed 23.2% y/y to €478.3mn. At the same time, the secondary income surplus edged up 2.6% y/y to €877.9mn and the primary income deficit narrowed 5.1% y/y to €281.3mn.
In April alone, the current account gap was €99.1mn versus a shortfall of €289.1mn a year earlier.
In its latest World Economic Outlook report from April, the International Monetary Fund projected a current account surplus of 0.2% of GDP for 2015, reversing into a 0.8% deficit in 2016. The European Commission expects a surplus of 1.3% of GDP this year, edging down to 1.2% of GDP next year.
|Current Account, €mn|
|Goods and Services||-278||-995||-146||-433|
|Source: Central bank|
Ukrainian President Petro Poroshenko has nominated Yakiv Smolii, the acting head of National Bank of Ukraine (NBU), as a candidate for the post of governor to replace the outgoing governor ... more
Moody's Investors Service on January 18 raised Mongolia's long-term issuer ratings and senior unsecured ratings from Caa1 to B3 with stable outlooks. The ... more
The assets of the International Bank of Azerbaijan (IBA), the largest lender in the country, contracted by 28.9% y/y to AZN8.7bn ($5.1bn) in 2017, the state-controlled bank reported on January 10. ... ... more