Bulgaria's GDP Grew by 2.9 % Y/Y in Q1 - Flash Estimates

According to flash estimates of the National Statistical Institute (NSI) released on Friday, Bulgaria's GDP increased by 2.9 % in the first quarter of this year compared to the same period last year.

In the first three months of 2016, GDP exceeded BGN 17.9 B, which represented an increase of 0.7 % compared to the last quarter of last year.

Gross Value Added (GVA) in the first three months of this year exceeded BGN 15.2 B, which represented an increase of 0.9 % compared to the last quarter of 2015 and a growth of 2.5 % compared to the same period last year.

The balance of trade in the first quarter of this year was negative. The export and import of goods and services decreased respectively by 0.3 % and 2.8 %.

Final consumption, which exceeded BGN 15.2 M, played a vital contribution to economic growth, accounting for the greatest share of GDP - 85.2 %.

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