Bulgaria Posts GDP Increase Above 3% for 2nd Consecutive Year

Business | March 7, 2017, Tuesday // 15:47
Bulgaria: Bulgaria Posts GDP Increase Above 3% for 2nd Consecutive Year File photo

Bulgaria's national output has surpassed 3% growth for a second year in a row, national statistics show.

At current prices, GDP was BGN 92.635 B (EUR 47.363 B / EUR 6630 per person), according to fresh data from the National Statistical Institute (NSI).

Bulgaria's economy grew 3.4% last year according to the numbers if compared to the previous year.

This is slightly below the 2015 result of 3.6%.

The figures mark two straight years of Bulgaria's recovery after the global crisis which hurt the country's GDP, pushing it to contract by more than 5% in 2009 and mark a rather sluggish growth in the next several years. It was only before the crisis that Bulgaria posted higher GDP growth, which stood at more than 7% in 2005-2007.

Gross value added at current prices amounts to BGN 79.937 B. In real terms GVA increases by 2.9% in comparison with the 2015.

The Industry’ relative share in the GVA of the national economy is 28.0 % which is 0.1 percentage points more than those in 2015.

The service sector creates 67.6% of the total GVA and agriculture - 4.4%.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article
Tags: GDP, National Statistical Institute

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria