Bulgaria's Economy Grew 3% in Q2, Y/Y

Business | September 2, 2016, Friday // 13:21
Bulgaria: Bulgaria's Economy Grew 3% in Q2, Y/Y File photo, BGNES

The gross domestic product (GDP) of Bulgaria rose by 3% over the second quarter of this year compared to the same period of 2015, preliminary data shows.

At current prices, GDP accumulated between April and June was BGN 21.916 B, or BGN 3067 per capita.

In euro, the value is EUR 11.205 B, or EUR 1568 per capita.

In USD terms at average quarterly exchange rate of BGN 1.73264 BGN per dollar, GDP generated in Q2 was USD 12.649 B or USD 1770 per person.

The growth rate is 0.7% if compared to the Q1, 2016, the National Statistical Institute (NSI) says.

Gross value added (GVA) at current prices in Q2 amounted to BGN 18.853 B, increasing by 2.6% compared to the same quarter of the previous year. GVA of the total economy rose by 0.5% in that period.

As compared with the second quarter of 2015, the share of the agricultural sector in the gross value added of the economy decreased with 0.4 percentage points to 4.2%.

The industrial sector retains its 29.3% share in the value added of the economy.

The share of services increased by 0.4% points to 66.5% compared to the same period of the previous year.
With regard to the expenditure components of GDP, the final consumption, with a 1.8% increase, is the main contributor to the registered positive economic growth, NSI says.

Exports and Imports of goods and services increased by 2.4% and 3.4% respectively compared with the corresponding quarter of the previous year.

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Tags: GDP, GVA, National Statistical Institute
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