Bulgarian Industrial Production Grew in January

Industrial production in Bulgaria was up 1.4% in January and grew 2.3% on a yearly basis.

Data by the National Statistical Institute has shown that car manufacturing has registered an increase of 48.5% compared to January 2013, as Bulgarian website Investor.bg reports.

Printing was up 17.5%, machinery construction rose 16.3%, and pharmacy had a 15.1% higher output.

The sectors above, as well as communication and information technology, are considered by the World Bank as fields with huge potential for development in Bulgaria.

Vehicle manufacturing (cars excluded), however, has dwindled by 31.9% compared to January last year, as well as metallurgy (17.6%), and tobacco production (11.2%).

Industrial production, along with consumption and exports, are expected this year to drive the economy further than the 0.9% increase of GDP in 2013.

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