The current account deficit rose to 725.6 million euro in January 2008, an increase from 639.7 million euro in the same month a year ago, the Bulgarian National Bank (BNB) reported. However, as share of GDP, the gap remained unchanged at 2.2 per cent.

Foreign direct investment (FDI) in the country covered 33.3 per cent of the current account deficit during the first month of the year, whereas coverage in January 2007 was at 19.1 per cent. FDI reached 242 million euro or 0.7 per cent of GDP, whereas in the same month a year ago the figure was at 122.4 million euro or 0.4 per cent of GDP.

The trade balance was negative, amounting to 598.8 million euro, at 1.8 per cent of GDP. A year earlier, the figure was 585.9 million euro.

Exports totaled 1.11 billion euro in January 2008, an increase from 868.6 million euro in the same month a year ago. Imports amounted to 1.71 billion euro, up from 1.45 billion euro in January last year.

Exports outpaced imports, with the growth pace being at, respectively, 28 and 19 per cent.