Bulgarian gross domestic product increases by 3.3% in Q3, Y/Y

In the third quarter of 2022, gross domestic product (GDP) grew by 3.3% and gross value added (GVA) by 3.1% compared to the third quarter of 2021 (data of the National Statistical Institute are preliminary and seasonally adjusted).

The increase in gross value added is determined by the growth in the following economic activities:

Mining and quarrying; manufacturing; electricity, gas, steam and air conditioning supply; water supply, waste management and remediation activities - 17.7% on an annual basis, Professional, scientific and technical activities; administrative and support service activities - 1.4%, Public administration and defence; compulsory social security; education; human health and social work activities - also by 1.4%, Financial and insurance activities - 0.8%, Real estate activities - by 0.6%. A decline was registered in Construction by 13.4%, in Wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and storage; accommodation and food service activities - by 0.7%, and Arts, entertainment and recreation, repair of household goods and other services - by 0.1%.

Regarding the components of the final use, the impact on the registered economic growth in the third quarter of 2022 had the final consumption with an increase of 4.1% on an annual basis. Exports of goods and services increased by 11.1% and imports of goods and services increased by 9.3% compared to the third quarter of 2021.