Bulgaria Registers Economic Growth of 2.9 % Y/Y in Q3

In the third quarter of 2015, the Gross Domestic Product (GDP) of Bulgaria recorded an increase of 2.9 % compared to the same quarter last year and a growth of 0.7 % compared to the second quarter of 2015.

According to preliminary figures of the National Statistical Institute (NSI), the GDP in the third quarter amounted to BGN 23.49 B or EUR 12.01B, with the GDP per capita being BGN 3267 or EUR 1671.

In the third quarter, Gross Value Added (GVA) exceeded BGN 19.9, recording an increase of 0.2 % compared to the previous quarter and a growth of 1.6 % on an annual basis.

The relative share of the agricultural sector in the added value of the economy stood at 8.6 %, which represented an increase of 0.3 percentage points compared to the same quarter in 2014.

The industrial sector reduced its relative share in the added value of the economy by 0.3 percentage points, dropping to a level of 27.3 %.

The relative share of services retained the level recorded in the same quarter of last year – 64.1 %.

In the third quarter, final consumption expenditure accounted for 68.6 % of GDP, the investments constituted 21.4 % of GDP, with the external balance being positive.

On an annual basis, the exports and imports of goods and services increased by respectively 5.8 % and 3.3 %.

Exports and imports of goods and services recorded a decrease of respectively 1.9 % and 0.8 % compared to the previous quarter.

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