A decline of 3.8% of GDP in the fourth quarter of 2020

In the fourth quarter of 2020 GDP at current prices amounted to 33 162 million BGN. In Euro terms GDP reaches 16 956 million EUR in total and 2 452 EUR per person. Seasonally adjusted data show a decline of 3.8% of GDP in the fourth quarter of 2020 compared to the corresponding quarter of the previous year and an increase of 2.2% compared to the third quarter of 2020.

In 2020, GDP at current prices amounts to 118 605 million BGN. In EUR terms GDP is 60 642 million EUR or 8 748 EUR per person. Preliminary data show a decrease of GDP for 2020 in real terms by 4.2% compared to 2019.

GDP, current prices
Fourth quarter of 2020

According to the preliminary data Gross Domestic Product at current prices for the fourth quarter of 2020 is 33 162 million BGN. GDP per person is 4 796 BGN. GDP is 20 207 million USD and 2 922 USD per person using the average for the quarter exchange rate of 1.641152 BGN for 1 USD. In Euro terms GDP is 16 956 million EUR or 2 452 EUR per person.

The GVA generated by the national economy during the fourth quarter of 2020 amounted to 28 780 million BGN at current prices.

The share of agricultural sector in GVA of the national economy in the fourth quarter of 2020 increases its level by 0.4 percentage points compared to the same quarter of the previous year.

The Industry increases its relative share in the GVA of the national economy to 23.9%, which is an increase by 1.4 percentage points compared to the same quarter of the previous year.

As compared with the fourth quarter of 2019, the service sector decreases its share into gross value added of the economy from 74.7% to 72.9%.

For final consumption expenditure 79.8% of the GDP is used during the fourth quarter of 2020. Investments (gross fixed capital formation) form 21.2% of the GDP. The external balance (exports-imports of goods and services) is negative.

Source: National Statistical Institute