Bulgaria is Fifth in the EU by GDP Growth in the Second Quarter of the Year

Business » FINANCE | August 16, 2018, Thursday // 10:20| Views: | Comments: 0
Bulgaria: Bulgaria is Fifth in the EU by GDP Growth in the Second Quarter of the Year

Bulgaria is fifth in the EU by GDP growth in the second quarter, after increase of 3.4% on annual basis, according to the initial data of the European Statistical Office Eurostat. For comparison, the GDP grew by 3.6% in the first quarter.

On quarter-on-quarter basis, the economic growth stood at 0.8% versus 0.9% in the first quarter. This is the slowest expansion since the second quarter of 2015.

Among the EU Member States, the highest GDP growth was achieved by Poland (+5%), followed by Hungary (4.4%), Latvia and Romania (4.2%). Bulgaria and Slovakia (+3.9%) and Lithuania (3.7%) ranked also in the head.

Compared to the previous quarter, Bulgarian GDP grew by 0.8%, which ranks fourth among EU member states after Romania (1.4%), Slovakia and Sweden (1%), Lithuania, Hungary and Poland (+0.9%). An increase of 0.8% over the previous quarter was also achieved by Cyprus and Latvia.

The gross domestic product of the Eurozone and the EU grew by 0.4% in the second quarter of the year compared to the previous quarter. In the first quarter, Eurozone and EU GDP also grew 0.4%.

Compared to the second quarter of last year, Eurozone and EU GDP grew by 2.2% after annual growth of 2.5% and 2.4% respectively in the previous quarter.

For comparison, in the second quarter of 2018, the US GDP grew by 1% compared to the first three months of the year and by 2.8% compared to the same period of the previous year.

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