Bulgaria Registered Economic Growth of 2.9 % Y/Y in Q1

Business » FINANCE | June 7, 2016, Tuesday // 20:03| Views: | Comments: 0
Bulgaria: Bulgaria Registered Economic Growth of 2.9 % Y/Y in Q1

According to preliminary figures of the National Statistical Institute (NSI) released on Tuesday, Bulgaria registered an economic growth of 2.9 % in the first quarter of this year compared to the same quarter of 2015.

The GDP exceeded BGN 18.5 B, amounting to BGN 2589 per capita. This represented an increase of 0.7 % compared to the last quarter of 2015.

In the first quarter of 2016, Gross Value Added (GVA) exceeded BGN 15.8 B, which represented an increase of 2.6 % compared to the same quarter last year.

Compared to the first quarter of 2015, final consumption increased by 2.1 %, the exports of goods and services increased by 0.3 %, while the imports dropped by 1.3 %.

In the first quarter, the relative share of the agricultural sector in the value added of the economy decreased by 0.3 percentage points compared to the same quarter of 2015, dropping to a level of 2.8 %.

The industrial sector decreased its relative share by 0.2 percentage points and reached a level of 29.4 %.

The services sector increased its relative share from 67.3 % in the first quarter of 2015 to 67.8 % in the same quarter of this year.

Investments in the first quarter amounted to 16.3 % of GDP and the trade balance of goods and services was positive.

Compared to the last quarter of 2015, GVA increased by 1 %, final consumption increased by 0.4 %, the exports of goods and services retained their level, while the imports decreased by 1.2 %.

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