The Gross Domestic Product, GDP, increased by 0.2% in both the Eurozone and the EU during the second quarter of 2011, compared with the previous quarter, according to flash estimates.
In the first quarter of 2011, growth rates were +0.8% in both zones.
The estimates were published by Eurostat, the statistical office of the European Union.
Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 1.7% in both zones in the second quarter of 2011, after +2.5% in both zones in the previous quarter.
According to the seasonally adjusted data of Eurostat and the Bulgarian National Statistics Institute, NSI, the GDP growth rate in Bulgaria in the second quarter of 2011 is 1.9%, compared to the same quarter of the previous year and 0.1%, compared to the first quarter of 2011. The largest increase has been registered in the fourth quarter of 2010 - +3.8%.
Eurostat and NSI define flash estimates as "the earliest picture of the economy according to national accounts concepts, which is produced and published as soon as possible after the end of the quarter, using a more incomplete set of information than that used for traditional quarterly accounts."
According to the flash GDP estimates for the second quarter of 2011, the GDP in Bulgaria, at current prices, amounted to BGN 18 707 M, NSI further reports.
In the structure of GDP by the expenditure approach, the largest share in GDP has the final consumption (76.4%), which in nominal terms amounted to BGN 14 301 M. In the second quarter of 2011, the gross capital formation is BGN 4 573 M and has a share of 24.5% in GDP. The external balance (exports minus imports) was negative.
In the second quarter of 2011, gross value added of the total economy increased by 0.7%, compared to first quarter of 2011. (Source: Sofia News Agency)