Bulgaria's Industrial Growth Slows Down in March

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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