Bulgaria's GDP Records 1.1% Growth in Q1 Y/Y

Business » FINANCE | May 15, 2014, Thursday // 13:14| Views: 1046 | Comments: 0
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Bulgaria: Bulgaria's GDP Records 1.1% Growth in Q1 Y/Y

Bulgaria's Gross Domestic Product expanded with 1.1 % in Q1 of 2014 over the same quarter of the previous year and with 0.2 % compared to Q4 of 2013.

According to the flash GDP estimates for the first quarter of 2014, the GDP at current prices amounted to BGN 15.918M. The Gross Value Added (GVA) at current prices amounted to BGN 13.586M. The services sector has the largest share (64.5 %) in total value added, followed by industrial sector (32.6 %) and agricultural sector (2.9%), according to the National Statistical Institute latest data.

In the structure of GDP by the expenditure approach the largest share has the final consumption (91.1 %), which in nominal terms amounted to BGN 14.505M. In the first quarter of 2014 gross fixed capital formation is BGN 2.886M and has a share of 18.1% in GDP.

According to the seasonally adjusted data, the GDP growth rate in the first quarter of 2014 has an increase of 0.2 % compared with the previous quarter. Gross value added increases in the first quarter of 2014 by 0.3%.

The individual consumption increased by 1.4%, gross fixed capital formation by 0.8 % and collective consumption by 0.3%.

During the first quarter of 2014 GDP increased by 1.1% compared to the same quarter of the previous year. Gross value added increased by 1.8 %. An increase is recorded in industry (3.4 %) and the services sector (1. 2%), while agricultural sector decreases its level by 0.4 %.

As regards the expenditure components of GDP, the final consumption registered a positive economic growth of the individual and the collective consumption by 2.0 and 1.5 % compared to the same quarter of the previous year. Gross fixed capital formation recorded an increase by 3.2 % compared to the same quarter of the previous year. Exports and imports of goods and services increased by 0.7% and 5.1%.

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Tags: gross domestic product, GDP, gross value added, GVA, exports, imports
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