保加利亚10年期国债 (Bulgaria10Y) 加自选

保加利亚的经常账户盈余从去年同期的4.326亿欧元大幅收窄至2025年7月的4310万欧元。这主要是由于商品账户赤字急剧增加，从一年前的1.204亿欧元扩大到6.522亿欧元。与此同时，初级收入赤字从4.542亿欧元缩小到4.103亿欧元，次级收入盈余从9250万欧元上升到1.484亿欧元。此外，服务盈余从9.147亿欧元增至9.571亿欧元。

Bulgaria’s current account surplus narrowed significantly to €43.1 million in July 2025 from €432.6 million in the corresponding month of the previous year. This was primarily due to a sharp increase in the goods account deficit, which widened to €652.2 million from €120.4 million a year earlier. Meanwhile, the primary income deficit narrowed to €410.3 million from €454.2 million and the secondary income surplus rose to €148.4 million from €92.5 million. Additionally, the services surplus grew to €957.1 million from €914.7 million.

保加利亚的年通货膨胀率在2025年8月升至5.3%，与上月持平，仍处于2023年11月以来的最高水平。酒精饮料和烟草（7月份为7.7%对7.6%）、住房公用事业（8.5%对8.4%）、通信（4.8%对4.1%）、教育（8.1%对7.9%）以及餐馆和酒店（9.0%对8.3%）的价格加速上涨。此外，家具、家用设备和维护的价格下降速度较慢（-1.5%对1.9%），家具、家居设备和维护（-0.3%对-0.7%）。与此同时，娱乐和文化（14.1%对14.5%）、食品和非酒精饮料（6.9%对7.6%）的通货膨胀有所缓和。按月计算，8月份消费者价格指数上涨0.1%，较上月1.7%的涨幅有所放缓。

Bulgaria’s annual inflation rate rose to 5.3% in August 2025, unchanged from the previous month, and still at its highest level since November 2023. Prices accelerated for alcoholic beverages and tobacco (7.7% vs 7.6% in July), housing utilities (8.5% vs 8.4%), communication (4.8% vs 4.1%), education (8.1% vs 7.9%), and restaurants and hotels (9.0% vs 8.3%). Additionally, prices declined at a softer pace for (-1.5% vs 1.9%) and furnishings and household equipment and maintenance (-0.3% vs -0.7%). Meanwhile, inflation softened for recreation and culture (14.1% vs 14.5%), food and non-alcoholic beverages (6.9% vs 7.6%). On a monthly basis, consumer prices rose 0.1% in August, slowing from 1.7% rise in the previous month.

2025年7月，保加利亚的贸易逆差为15.908亿保加利亚列弗，与去年同期的5.447亿保加利亚列伯相比急剧扩大。这也是自4月以来最大的赤字，因为出口下降幅度超过进口。与去年同期相比，出口下降了13.2%，至71.64亿保加利亚列弗，对欧盟的出口下降了21.1%，对非欧盟国家的出口仅增长了1%。与此同时，进口下降0.5%，至87.548亿保加利亚列弗，主要原因是来自非欧盟国家的采购减少（-3%），而来自欧盟国家的进口增加（1.5%）。1月至7月，该国的贸易逆差从去年同期的60.449亿保加利亚列弗扩大到10.5453亿保加利亚列佛，出口下降4.8%，进口增长3.6%。

Bulgaria recorded a trade deficit of BGN 1,590.8 million in July 2025, widening sharply from BGN 544.7 million in the same month last year. This also marked the largest deficit since April, as exports dropped more than imports. Year-on-year, exports declined by 13.2% to BGN 7,164 million, with outbound shipments plunging 21.1% to EU and rising just 1% to non-EU countries. Meanwhile, imports fell at a softer 0.5% to BGN 8,754.8 million, primarily due to lower purchases from non-EU countries (-3%), while imports increased from EU countries (1.5%). In the January to July period, the country’s trade shortfall expanded to BGN 10,545.3 million from BGN 6,044.9 million in the corresponding period of the previous year, as exports decreased by 4.8%, while imports went up by 3.6%.

2025年7月，保加利亚工业生产同比下降8.3%，与上月上调的8.3%持平。采矿和采石业的产出增长放缓（2.1%对6月份的26.7%），而制造业的产量收缩速度较慢（-3.3%对-7.3%）。与此同时，电力、天然气、蒸汽和空调的产量进一步暴跌（-34.9%对-18.1%）。经季节性调整的月度数据显示，7月份工业活动停滞，此前一段时间向上修正了1.9%的跌幅。

Industrial production in Bulgaria fell by 8.3% year-on-year in July 2025, unchanged from an upwardly revised 8.3% in the previous month. Output growth slowed for mining and quarrying (2.1% vs 26.7% in June), while production contracted at a softer pace for manufacturing (-3.3% vs -7.3%). Meanwhile, production plummeted further for electricity, gas, steam, and air-conditioning (-34.9% vs -18.1%). On a seasonally adjusted monthly basis, industrial activity stalled in July, following an upwardly revised 1.9% drop in the preceding period.