Bulgaria's 2010 GDP Expands by 0.2% Y/Y

Bulgaria's 2010 GDP Expands by 0.2% Y/Y

Bulgaria's gross domestic product marked a slight increase of 0.2% in 2010, compared to the previous year, official data showed. 

The GDP marked an increase of 2.8% in the fourth quarter of 2010 on an annual basis after adjusting to seasonal variations.

Data from the National Statistics Institute (NSI) showed that in 2010, the GDP amounted to BGN 70 474.3 M. 

In the fourth quarter of 2010, the GDP amounted to BGN 19.962 M. According to seasonally adjusted data, the GDP growth rate was 2.1% compared with Q3 of the year.

As compared with Q4 of 2009, the industrial sector increased its share in the gross value added in the economy by 5.5 percentage points to 33.4% in the fourth quarter of 2010.

The share of services was 63.3 %, up by 6 percentage points as compared with the respective period of the previous year. The share of agricultural sector increased by 0.5 percentage points to 3.3% in the fourth quarter of 2010.

In the fourth quarter of 2010 the individual consumption constituted 69.7% of GDP in the economy. Investments accounted for 28.3% of GDP.

The external balance (exports-imports) was negative amounting to BGN 1 766.4 M and accounted for 8.8% in GDP.

During the fourth quarter of 2010 gross value added increased by 0.2% compared to same quarter of previous year. The indicator's movement is determined mainly by the increase recorded in industry - 8.4%, and financial sector - 5.2%.

Agriculture, construction and services in trade, hotels and restaurants, transport and communications have a negative contribution to value added and reported a decline during the period. /Source: Sofia News Agency/

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