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Bulgaria's industrial sector has started to grow more slowly after making more impressing gains in the previous four months. File photo
Bulgaria's industrial sector grew by 5.1% in March 2011 year-on-year, which is its smallest growth in the past 5 months.
On a monthly basis, the Bulgarian industry grew by 0.1%, according to latest data of the National Statistical Institute.
Bulgaria's processing industry grew by 6.8% year-on-year, the production and distribution of electricity and gas – by 5.5%, and the extracting industry – by 3.3%.
Bulgaria's industrial sector has been growing primarily to the rising exports in 2010; however, many industries have barely surpassed the pre-crisis 2008 production levels, and some have not reached them yet; Bulgaria's domestic consumption has not started to take off yet, which is cited as a major factor debilitating the economic growth as a whole, including the industrial sector.
The production of paper and paper products increased by almost 30% y/y, the production of computer and communication devices grew by 25.2%, the coal extraction – by 24.6%, and the production of pharmaceuticals – by 0.1%.
On a monthly basis, the processing industry in Bulgaria grew by 12.2%, while the extracting industry declined by 1%, and the energy production – by 1.1%.
Of the processing industry sectors, the chemical industry declined by 17.9% in March compared with February, the lumber production – by 9.7%, the beverage production – by 9.4%, and the food production – by 7.7%.
At the same time the metallurgy grew by 18.9%, the machine-building – by 3.4%, and paper production – by 4.3%.
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