Bulgaria’s foreign trade deficit narrowed 54% y/y to BGN 1,271mn (EUR 650mn) as of the end of April, preliminary data of the statistics office showed. The cumulative trade gap has been on a steady downward trend since the beginning of the year. It accounted for 1.6% of the full-year GDP projection as of end-April, down from 3.6% a year earlier.
The improvement came on the back of surging exports (up 15.2% y/y to BGN 14bn) which should help bolster Bulgaria's gross domestic product in the second quarter. Imports increased only slightly (up 2.3% y/y to BGN 15.3bn), in line with anticipations for modest domestic demand that will likely result in a smaller trade deficit this year.
The trade deficit with the EU decreased by 47% y/y to BGN 767mn mainly thanks to rise in exports to Germany and Greece. The balance of trade with non-EU states shrank 62% y/y to BGN 503mn.
The third bridge over Danube between Romania and Bulgaria will be part of a package that four Balkan countries — Romania, Bulgaria, Serbia and Greece — will offer China for funding, the prime ... more
Bulgaria’s government does not intend to participate in the deal to sell assets of Czech energy company CEZ, Finance Minister ... more
Bulgaria’s main opposition Socialist Party (BSP) is demanding the dismissal of Interior Minister ... more