1. Output
According to the NSI business inquiries in March 2013 the industrial confidence indicator increased by 1.1 percentage points compared to February which is due to more favourable managers expectations about the production activity over the next 3 months.
In January 2013 working day adjusted Industrial Production Index rose by 7.9% as compared to the respective month of 2012 (by preliminary data). An increase was recorded in the electricity, gas, steam and air conditioning supply by 18.4% and in the manufacturing by 5.6% while in the mining and quarrying industry a decrease by 5.6% was seen.
According to the preliminary data the Gross Domestic Product1 (GDP) in the fourth quarter of 2012 amounted to BGN 21 085 million at current prices and GDP per person amounted to BGN 2 892. At average exchange rate for the quarter of BGN 1.509179 for 1 US dollar GDP is USD 13 971 million or USD 1 916 per person. GDP recalculated in Euro was EUR 10 780 million or EUR 1 478 per person. In comparison with the fourth quarter of 2011 the real volume of GDP increased by 0.5% according to the seasonally adjusted data.
2. Investment
The average capacity utilization in industry in January 2013 increases by 1.9 percentage points compared to October 2012 and it reaches 71.4%.
In the fourth quarter of 2012 the gross fixed capital formation increased in real terms (according to the seasonally adjusted data) by 1.5% in comparison with the same period of the previous year. The relative share of that category in GDP is 23.3%.
3. Labour market
In the fourth quarter of 2012 the total number of employed persons (aged 15 years and over) was 2 951.8 thousand, representing 47.0% of population in the same age group. In comparison with the same quarter of 2011 the number of employed declined by 22.0 thousand, and their relative share was by 0.3 percentage points higher.
The number of unemployed persons in the fourth quarter of 2012 was 417.3 thousand persons, and the unemployment rate - 12.4%. In comparison with the same quarter of the previous year the number of unemployed rose by 8.6% and the unemployment rate - by 1.0 percentage points.
According to the NSI business inquiries in March 2013 7.7% of the industrial enterprises pointed out the labour shortage as a factor limiting their activity.
In December 2012 the average wage and salary was BGN 812 (by preliminary data) which is by 4.4% higher than the previous month. In comparison with December 2011 the growth rate is 8.0%.
4. International Transactions
According to the industrial managers’ assessments in March 2013 compared to February a reduction of the orders from abroad by 8.2 percentage points was observed.
In January 2013 the current account recorded a deficit of EUR 10.9 million (0.03% of the predicted GDP for 2013), compared with a negative balance of EUR 253.6 million (0.6% of GDP) in January 2012. The deficit on the current account was due to the negative balance on income (EUR 63.3 million) and the trade deficit (EUR 29.5 million).
The trade balance recorded a deficit of EUR 29.5 million (0.1 of the projected GDP for 2013) in January 2013, against a deficit of EUR 278.3 million (0.7 of GDP) in January 2012.
Exports of goods (FOB) amounted to EUR 1 779.6 million in January 2013, growing by EUR 342.8 million (23.9%) from January 2012 (EUR 1 436.8 million). The exports for January 2012 dropped by 8.0% year-on-year. Imports of goods (FOB) amounted to EUR 1 809.1 million in January 2013 against EUR 1,715.1 million in January 2012, i.e. growing by EUR 94 million. On a year-on-year basis imports increased by 5.5% in January 2013 and by 4.5% in January 2012.
Direct investment abroad increased by EUR 0.7 million in January 2013 compared with an increase of EUR 13.1 million in January 2012. Foreign direct investment in Bulgaria amounted to EUR 31.4 million (0.1 of the projected GDP for 2013) in January 2013 against EUR 326.5 million (0.8 of GDP) in January 2012.
In January 2013 portfolio investment assets increased by EUR 23.0 million, compared with a decrease of EUR 101.2 million in January 2012. Portfolio investment liabilities decreased by EUR 258.0 million against a decline of EUR 71.6 million in January 2012.
The external balance (exports - imports of goods and services) in the fourth quarter of 2012 is negative. Exports of goods and services decreases by 2.1% compared to the corresponding quarter of the previous year and the imports of goods and services - by 0.5%.