BULGARIAN ECONOMY

Bulgaria's GDP increases by 3.6% per year

Gross Domestic Product (GDP) expanded with 3.6% in the fourth quarter of 2017 compared to the same quarter of the previous year and with 0.8% compared to the third quarter of 2017 according to the seasonally adjusted data made by the National Statistical Institute (NSI).

According to the flash GDP estimates for the fourth quarter of 2017, the GDP at current prices amounted to BGN 27 875 million.

Gross Value Added in the fourth quarter of 2017 amounted to BGN 24 060 million. In the structure of GDP by the expenditure approach the largest share had the final consumption (82.3%), which in nominal terms amounted to BGN 22 954 million. In the fourth quarter of 2017 gross capital formation was BGN 6 297 million and had a share of 22.6% in GDP. The external balance (exports minus imports) had a negative sign.

According to the seasonally adjusted data, the GDP growth rate in the fourth quarter of 2017 was 0.8% compared to the previous quarter. GVA increase in the fourth quarter of 2017 was 0.9%. According to the flash estimates by final expenditure the GDP growth in the fourth quarter of 2017 was determined by increase of the final consumption with 2.2%.

The fourth quarter of 2017 GDP at seasonally adjusted data increased by 3.6% compared to the same quarter of the previous year. Gross value added increased by 3.7%. As regards the expenditure components of GDP, the final consumption registered a positive economic growth by 4.7%. Gross fixed capital formation increased by 3.2% compared to the same quarter of the previous year. Exports and imports of goods and services increased by 2.0% and 9.4% respectively.

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