In the third quarter of 2022 Bulgaria's Gross Domestic Product grew by 3.2% from Q3 in 2021, and by 0.6% compared to Q2 in 2022, according to seasonally adjusted data, the National Statistical Institute said, releasing flash estimates.
Growth Rates on Annual Basis
The Q3 2022 gross value added (GVA) increased by 3.4% on an annual basis while final consumption grew by 3.0%. Gross fixed capital formation decreased by 8.4%. Exports of goods and services increased by 7.8% and imports of goods and services increased by 5.3%.
Quarter-on-quarter Growth Rates
According to the seasonally adjusted data, GDP grew by 0.6% in the third quarter of 2022 compared to the previous quarter. GVA increased by 0.8%.
The positive GDP growth in Q3 from Q2 is attributed to an increase in final consumption by 0.5%.
GDP in Monetary Terms, Current Prices
The Q3 2022 GDP at current prices totalled BGN 44, 539.0 million while GVA amounted to BGN 39,336.8 million.
In the structure of GDP by expenditure, the largest share, 75.6% is of final consumption, which in nominal terms stood at BGN 33,668.2 million. In Q3 2022 the gross capital formation was BGN 9,780.9 million, 22.0% in GDP. The external balance (exports minus imports) was positive.