Bulgarian economy grew by 2.1% in the fourth quarter of 2020 compared to the previous quarter

Gross Domestic Product (GDP) fell down by 3.8% in the fourth quarter of 2020 compared to the same quarter of the previous year while raised with 2.1% compared to the third quarter of 2020 according to the seasonally adjusted data.

GDP in monetary terms, current prices

According to the flash GDP estimates for the fourth quarter of 2020, the GDP at current prices is 32 076.9 million BGN.

Gross Value Added in the fourth quarter of 2020 amounted to 27 778.1 million BGN.

In the structure of GDP by the expenditure approach the largest share of 80.4% has the final consumption, which in nominal terms is 25 796.0 million BGN. In the fourth quarter of 2020 gross capital formation is 6 992.8 million BGN and has a share of 21.8% in GDP. The external balance (exports minus imports) has a negative sign.

Quarter-on-quarter growth rates

According to the seasonally adjusted data , GDP has a growth of 2.1% in the fourth quarter of 2020 compared to the previous quarter . GVA increase in the fourth quarter of 2020 is 1.5%.

According to the flash estimate of GDP by final expenditure approach, the increase of the Exports of goods and services with 11.3% is the reason for the positive GDP growth at seasonally adjusted data in the fourth quarter of 2020 compared to the third quarter of 2020.

Growth rates on annual basis

The fourth quarter of 2020 GDP at seasonally adjusted data decreased by 3.8% compared to the same quarter of the previous year. Gross value added decreased by 3.8% also.

As regards the expenditure components of GDP, the final consumption registered a negative economic growth of 5.7%. Gross fixed capital formation decreased by 7.9% in the fourth quarter of 2020 compared to the same quarter of the previous year at seasonally adjusted data. Exports of goods and services decreased by 11.2% and imports of goods and services by 3.9%.