Growth in Bulgaria’s Gross Domestic Product

Business » FINANCE | June 8, 2023, Thursday // 12:29
Bulgaria: Growth in Bulgaria’s Gross Domestic Product

In the first quarter of 2023, the gross domestic product (GDP) grew by 2.3% compared to the first quarter of 2022 and by 0.5% compared to the fourth quarter of 2022 according to seasonally adjusted data, NSI reports.

In the first quarter of 2023, the generated GDP amounted to BGN 39,970 million at current prices according to preliminary data.

6,201 leva of the indicator's value volume is attributed per head of the population. At an average exchange rate for the quarter of 1.822536 BGN per 1 US dollar, GDP amounted to 21,931 million dollars and, accordingly, to 3,402 dollars per person of the population. Converted into euros, the GDP is 20,436 million euros, with 3,171 euros per person of the population.

The gross value added (GVA) created by the branches of the national economy in the first quarter of 2023 amounts to BGN 34,878 million at current prices.

In the first quarter of 2023, 78.5% of GDP is spent on final consumption. Investments (gross formation in fixed capital) form 13.7% of GDP.

The foreign trade balance of goods and services is positive.

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Tags: GDP, BGN, growth
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