According to preliminary data of BNB, foreign investments in Bulgaria showed an annual growth of 64.6% in January and reached EUR 158.8 million. Investments were almost entirely in the form of debt instruments. Equity proceeds amounted to EUR 19.9 million. No data is available on the reinvested earnings yet. The figures are to be revised after BNB receives reports from the companies.
Most foreign investments came from the UK (EUR 58.8 million), the Netherlands (EUR 20.8 million), Germany (EUR 20.1 million) and Liechtenstein (EUR 19.6 million).
Meanwhile, the Central Bank has updated the data for the previous two years. The foreign investments in 2016 were revised to EUR 1.08 billion from EUR 660 million, mainly due to an upward correction in reinvested earnings. The initially announced foreign investments of EUR 902 million in 2017 were revised to EUR 950 million, an increase compared to the preliminary forecast, but a decrease compared to the year before.
The country’s trade balance data have also been updated
Bulgarian imports totaled BGN 59 billion in 2017, showing a higher growth of 15.4%, compared to exports. Exports exceeded BGN 52 billion, an increase of 11%, compared to 2016. We exported most goods and services to Germany (BGN 5.6 billion), as well as to the Balkan Peninsula (BGN 13.7 billion), or 26 % of total exports.
We export machines, clothing, food and medicines, but the main engine is the production of automotive parts and IT products. These are also the two sectors creating the highest added value. About 170 companies manufacturing automotive parts and systems for large automobile manufacturers in Bulgaria create 4% of GDP and employ more than 40,000 people in the country. The information and communication technology sector generates a turnover of services in the amount of EUR 2.5 billion, with an added value of EUR 1.14 billion. According to Eurostat data, the sector records a steady and dynamic growth and employs 51,000 people.