Bulgaria Current Account Gap Largest Since 2008

Bulgaria recorded a current account deficit of EUR 1,114 million in November 2025, more than doubled from EUR 415.7 million in the corresponding month of the previous year. This marked the largest deficit since records began in January 1998, mainly due to a much wider gap in the goods account, which rose to EUR 1,059.8 million from EUR 782.3 million in November 2024. At the same time, the shortfall in net primary income, which reflects the receipt and payment of income related to the use of resources, such as labour, capital, land, taxes of production and imports and subsidies, expanded to EUR 717.6 million from EUR 345.5 million, while the surplus in net secondary income, which reflects the redistribution of income, narrowed sharply to EUR 39.4 million from EUR 101 million. On the other hand, the services account surplus widened to EUR 624.1 million from EUR 611.2 million a year ago.

Bulgaria’s current deficit widened to EUR 1,064.6 million in October 2025 from EUR 753.6 million in the corresponding month of the previous year. This was the largest deficit since September 2022, mainly due to a wider gap in the goods account (EUR -1,044.4 million vs EUR -739.0 million in October 2024). At the same time, the primary income deficit rose to EUR 753.1 million from EUR 730.5 million a year ago, and the secondary income surplus narrowed to EUR 67.5 million from EUR 78.0 million. On the other hand, the services surplus expanded to EUR 665.5 million from EUR 637.9 million.

Bulgaria recorded a current account deficit of EUR 792.9 million in September 2025, sharply widening from a EUR 178.9 million posted in the same month of the previous year. This marked the largest monthly shortfall since December of 2008, primarily driven by a notable increase in the goods trade deficit, which rose to EUR 845.9 million from EUR 410.7 million in September 2024. Additionally, the deficit in primary income grew significantly to EUR 752.4 million from EUR 501.7 million, while the services account surplus narrowed to EUR 537.7 million from EUR 669.1 million. In contrast, the surplus in secondary income, which includes remittances and other current transfers, expanded sharply to EUR 267.7 million from EUR 64.4 million a year earlier.