Bulgaria's Economy Expands by 0.5% in Q2 2012 Y/Y
2012-08-14 17:23:31
Bulgaria's Gross Domestic Product (GDP) expanded 0.5% in the second quarter of 2012 over the same quarter of the previous year and 0.2% compared with the first quarter of 2012.
These flash estimates were released Tuesday by the Bulgarian National Statistics Institute, NSI.
According to the flash GDP estimates for the second quarter of 2012, the GDP at current prices amounted to BGN 19 077 M.
GVA at current prices amounted to BGN 16 438 M. The services sector has the largest share (59.8%) in total value added, followed by industrial sector (35.0%) and agricultural sector (5.2%).
In the structure of GDP by the expenditure approach, final consumption has largest share (79.5%), which in nominal terms amounted to BGN 15 170 M. In the second quarter of 2012, the gross fixed capital formation is BGN 4 418 M and has a share of 23.2% in GDP. The external balance (exports minus imports) has a negative sign.
According to seasonally adjusted data, the GDP growth rate in the second quarter of 2012 has an increase of 0.2% compared with the previous quarter. In the second quarter of 2012, compared to the first quarter of 2012, the gross value added of the total economy increased by 0.5%.
According to flash estimates of GDP by final expenditure, in the second quarter of 2012, the final consumption expenditure and the gross fixed capital formation have major contribution to the registered growth registered and have increased respectively by 1.9% and 1.5%. In the second quarter of 2012, the exports of goods and services increased by 2.4%. During the same period, the imports of goods and services increased by 5.9% over the previous quarter.
During the second quarter of 2012, GDP increased by 0.5% compared to the same quarter of the previous year. The gross value added decreased by 0.4%. The indicator's movement is determined mainly by the increase recorded in the agricultural sector (7.2%) and industry (1.8%). The services sector has a negative contribution to value added with a decline of 1.0% over the period.
Regarding the expenditure components of GDP, the final consumption registered a positive economic growth of 2.7%, compared to the same quarter of the previous year. The gross fixed capital formation recorded a decrease of 2.1%, compared to the same quarter of the previous year. The exports and imports of goods and services increased by 2.8 and 6.9%