Bulgaria's GDP Sees Increase of 1.6% in Q2 2014 Y/Y

Bulgaria's Gross Domestic Product (GDP) expanded by 1.6% in Q2 2014 over the same quarter of the previous year and by 0.5% compared to Q1 2014.

According to Bulgaria's national Statistical Institute flash GDP estimates for Q2 2014, the GDP at current prices amounted to BGN 19 215M. The Gross Value Added (GVA) at current prices amounted to BGN 16 423M.

The services sector has the largest share of 61.2% in total value added, followed by industrial sector (34.0%) and agricultural sector (4.8%).

According to the seasonally adjusted data, the GDP growth rate in the second quarter of 2014has an increase of 0.5% compared with the previous quarter.Gross value added increases in the second quarter of 2014 by 0.6%.

According to flash estimates of GDP by final expenditure in Q2 of 2014 major contribution to the growth registered have the export of goods and services which increases with 1.0%, gross fixed capital formation with 0.8% and individual consumption with 0.1%.

During Q2 2014 GDP at seasonally adjusted data increased by 1.6% compared to the same quarter of the previous year. Gross value added increased by 2.4%. An increase is recorded in industry (4.5%) and the services sector (1.0%), while agricultural sector decreases its level with 1.5%.

As regards the expenditure components of GDP, the final consumption registered a positive economic growth of the individual and the collective consumption by 1.9% and 0.3% compared to the same quarter of the previous year.

Gross fixed capital formation recorded an increase by 3.9% compared to the same quarter of the previous year. Exports and imports of goods and services increased by 2.9% and 1.0%.

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