Bulgaria’s economy posted 0.1 per cent growth in first quarter

Bulgaria’s economy posted 0.1 per cent growth in the first quarter of the year, the National Statistical Institute (NSI) said in a flash estimate on May 15. Bulgaria was one of 10 EU countries to post positive quarterly growth during that period, but both the EU as a whole...

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 E-mail article  Print  Save Additional News in English Još vesti na Srpskom Επιπλέον ειδήσεις στα Ελληνικά  Text

Bulgaria’s economy posted 0.1 per cent growth in first quarter



Balkans.com Business News Correspondent - 17.05.2013

Bulgaria’s economy posted 0.1 per cent growth in the first quarter of the year, the National Statistical Institute (NSI) said in a flash estimate on May 15. Bulgaria was one of 10 EU countries to post positive quarterly growth during that period, but both the EU as a whole and the euro zone posted negative growth, according to a flash estimate by EU’s statistics body Eurostat, Sofia Globe wrote. In real terms, gross domestic product (GDP) in Bulgaria was 16.2 billion leva, or 8.26 billion euro. Compared to the first quarter of 2012, GDP was 0.4 per cent higher. 

The flash estimate data showed an increase of three per cent in domestic consumption on an annual basis, as well as a 4.8 per cent rise in gross fixed capital formation. Exports in the first quarter were 8.9 per cent higher than in the first three months of 2012, while imports rose by 4.4 per cent. 

Eurostat data showed the EU economy shrinking by 0.1 per cent quarter-on-quarter, while GDP in the 17-member euro zone fell by 0.2 per cent. In the fourth quarter of 2012, the growth rates were -0.5 per cent and -0.6 per cent, respectively, Eurostat said. 

A total of 10 countries saw their GDPs expand during the quarter, with Lithuania and Latvia posting the strongest growth at 1.3 per cent and 1.2 per cent, respectively. Nine countries saw their economies shrink, with Cyprus (-1.3 per cent) and Estonia (-1.0 per cent) hit the worst.  Source: American Chamber of Commerce, Bulgaria


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