BULGARIAN ECONOMY

Bulgaria's GDP grew by 3.4% in the second 3 months of the year

In the second quarter of 2018 gross domestic product (GDP) grew by 3.4 per cent compared to the corresponding months of the previous year and by 0.8 per cent compared to the first 3 months of 2018, according to seasonal data of the Bulgarian National Statistical Institute (NSI).

According to the NSI express estimates for the second quarter of 2018 GDP in nominal terms reached BGN 26,047 million. The realized value added in the second quarter of 2018 is BGN 22,445 million.

By end-use items, the largest share in GDP is held by final consumption (79 per cent), which in value terms amounts to BGN 20 586 million. In the second quarter of 2018 gross capital formation amounted to BGN 6 009 million and accounted for 23.1 per cent of the relative share of GDP. The foreign trade balance is negative.

In the second quarter of 2018 compared to the first quarter of the same year gross value added increased by 0.6 per cent.

According to the express estimates of GDP by end-use items in the second quarter of 2018, the contribution to seasonal economic growth recorded in the first quarter was the increase in final consumption by 1.8 per cent and in gross fixed capital formation by 0.1 per cent hundred.

In the second quarter of 2018, the same quarter of the previous year gross value added increased by 3.1 per cent.

Final consumption registered a positive economic growth of 4.7 per cent. Gross fixed capital formation reported growth of 4.4 per cent in the second quarter of 2018 against the corresponding quarter of the previous year. Exports and imports of goods and services increased by 2.7% and 4.6%, respectively.

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