Bulgaria's Q2 GDP Rises 0.3% Q/Q, Up 0.5% Y/Y

Bulgaria's Q2 GDP Rises 0.3% Q/Q, Up 0.5% Y/Y

Bulgaria's gross domestic product (GDP) edged up 0.3% on the quarter and expanded by 0.5% on the year in the three months through June, seasonally-adjusted data of the country's statistics office indicated.

A flash estimate released in August put Bulgaria's economic growth at 0.2% quarter-on-quarter and at 0.5% year-on-year.

In the first quarter of 2012, the country's GDP remained unchanged from the previous three months and expanded by 0.5% year-on-year, according to seasonally-adjusted data.

GDP totalled 19.01 billion levs ($12.23 billion/9.72 billion euro) at current prices in the April-June period, according to preliminary data, NSI said in a statement.

Gross value added increased by 0.6% compared to the first quarter of 2012, but went down by 0.3% compared to the same quarter of 2011.

Agriculture increased its share in the gross value added of the economy by 0.5 percentage points on the year to 5.4% in the second quarter of 2012. The share of industrial sector reached 33.4%, down by 0.5 percentage points. The share of services remained flat at 61.2%.

Last year Bulgaria's economy expanded by a real 1.7%, compared to an increase of 0.4% in 2010.

The government in Sofia has projected real economic growth of 2.3% in the 2012 state budget. It expects the country's economy to grow by between 2.5% and 4.0% annually in the 2013-2015 period.

In May, the International Monetary Fund lowered its forecast for Bulgaria's 2012 economic growth to 0.8% from 1.3% projected at the end of last year, mostly reflecting external headwinds.

Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.