Bulgaria’s exports increased by over 35% in 2022
Source：Investor BG
From：Taiwan Trade Center, Sofia
Update Time：2023/03/09
The deficit in the trade balance last year was EUR 4.593 billion, BNB reported.
The export of Bulgarian goods last year amounted to EUR 46.493 billion with a growth of 35.1% (EUR 12.088 billion) compared to a year earlier. In comparison, exports from January to December 2021 increased year-on-year by 26.2%. This is shown by the preliminary data of the Bulgarian National Bank (BNB).
In December alone, the export of goods was 3.491 billion euros, increasing by 13.2% (407.4 million euros) compared to a year earlier.
According to data from the central bank, the import of goods last year amounted to 51.086 billion euros and for one year the increase was 37% (13.795 billion euros). In comparison, imports from January to December 2021 grew by 27.7% year-on-year.
In December last year alone, imports reached 4.112 billion euros and grew by 14.1% (507.3 million euros).
The BNB calculates that the deficit in the trade balance last year amounted to EUR 4.593 billion, while for the same period in 2021 it was EUR 2.886 billion.
For December 2022 alone, the trade balance is in the red with 621.3 million euros, with a deficit of 521.4 million euros for December 2021.
The central bank reports that the current and capital account last year was positive and amounted to 519.9 million euros with a positive balance of 139.9 million euros (0.2% of GDP) for January - December 2021. In December 2022 alone, it was on the plus side with 1.009 billion euros against a deficit of 582 million euros for the same period a year earlier.
Last year, the current account was negative and amounted to 274.7 million euros, with a negative balance of 351 million euros for January - December 2021. For December 2022, the balance on the current account is in the red by 133.7 million. EUR with a negative balance of EUR 484.3 million a year earlier.
The balance on services in 2022 is in the red at €5.152 billion, against a positive balance of €4.082 billion for January-December 2021. It is in positive territory at €279.6 million last December, against a positive balance from EUR 262.6 million a year earlier.
The capital account is in the positive with 1.143 billion euros, with a negative value of 97.7 million euros for December 2021. For the last year, it was positive in the amount of 794.6 million euros, as a year earlier it was still in the positive with 490.9 million euros.
The financial account at the end of last year was in positive territory with 1.374 billion euros, against a negative value of 1.5 million euros for December 2021. From January to December, it was in the positive with 3.965 billion euros, with a positive value of 3.281 billion euros for the same period in 2021.
The balance under the article Direct investments is negative in the amount of 111.8 million euros with a positive balance of 276.3 million euros for December 2021. For the last year it is in the negative with 1.887 billion euros with a negative balance of 987.5 million euros for the period from January to December 2021.
Direct investments - assets decreased by EUR 35.9 million, against an increase of EUR 77.1 million for December 2021. From January to December 2022, they increased by EUR 874.9 million, against an increase of EUR 781.8 million. euro a year earlier.
Direct investments - liabilities increased by 75.9 million euros, with a decrease of 199.2 million euros for December 2021. For January - December 2022, they increased by 2.762 billion euros, with a growth of 1.769. billion euros for the same period in 2021.
Reserve assets of the BNB increased by 2.784 billion euros in December last year, compared to an increase of 2.927 billion euros a year earlier. For 2022, the increase is €3.991 billion, up from €3.606 billion for the period January to December 2021.
Source: https://www.investor.bg/a/515-ikonomika-i-makrodanni/369554-iznosat-na-balgariya-se-e-uvelichil-s-nad-35-prez-2022-g