Bulgaria Trade Deficit Largest on Record

Bulgaria’s current account deficit widened to EUR 1,409.5 million in December 2025 from EUR 607.6 billion in the same month last year. This was the largest trade deficit since records began in 1998, due to wider deficits in goods (EUR -1,290.9 million vs EUR -723.3 million in December 2024) and primary income (EUR -755.2 million vs EUR -639.4 million). In addition, the services surplus narrowed to EUR 405.0 million from EUR 661.8 million in the previous year. Conversely, the secondary income surplus rose to EUR 231.5 million from EUR 93.2 million a year ago. For 2025 as a whole, Bulgaria’s trade deficit expanded sharply to EUR 6,874.3 million from EUR 1,416.0 million in 2024.

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.