Bulgaria Registers 1.5% Y/Y GDP Growth in Q3, 2014 – Eurostat

In the third quarter of 2014, Bulgaria registered 1.5% year-on-year GDP growth, according to Eurostat.

Bulgaria is in the middle of the ranking of the EU’s 28 economies.

In comparison, Romania recorded GDP growth of 3% on the year in Q3, 2014.

Seasonally adjusted GDP rose by 0.2% in the euro area (EA18) and by 0.3% in the EU28 during the third quarter of 2014, compared with the previous quarter.

In the second quarter of 2014, GDP grew by 0.1% in the euro area and by 0.2% in the EU28.

Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 0.8% in the euro area and by 1.3% in the EU28 in the third quarter of 2014, after +0.8% and +1.3% respectively in the previous quarter.

During the third quarter of 2014, GDP in the United States increased by 1.0% compared with the previous quarter (after +1.1% in the second quarter of 2014). Compared with the same quarter of the previous year, GDP grew by 2.4% (after +2.6% in the previous quarter).

Among Member States for which data are available for the third quarter of 2014, Romania (+1.8%), Poland (+0.9%), Greece, Slovenia and the United Kingdom (all +0.7%) recorded the highest growth compared with the previous quarter. Cyprus (-0.4%), Austria (-0.3%), and Italy (-0.1%) registered decreases.

During the third quarter of 2014, household final consumption expenditure rose by 0.5% in the euro area and by 0.6% in the EU28 (after +0.3% and +0.4% respectively in the previous quarter).

Gross fixed capital formation decreased by 0.2% in the euro area and increased by 0.1% in the EU28 (after -0.6% and -0.3%).

Exports rose by 0.8% in the euro area and by 0.6% in the EU28 (after +1.4% and +1.0%).

Imports increased by 1.2% in the euro area and by 1.1% in the EU28 (after +1.3% and +1.0%).

Household final consumption expenditure had a positive contribution to GDP growth (+0.3 percentage points) both in the euro area and the EU28.

Gross fixed capital formation had a neutral contribution to GDP growth both in the euro area and the EU28 (0.0pp).

The contribution of the external balance to GDP growth was negative in both zones.

The contribution of changes in inventories was neutral in the euro area and positive (+0.1pp) in the EU28.

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