Bulgaria's GDP Grows by 7% in Q1

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Bulgaria's GDP Grows by 7% in Q1

Bulgaria's gross domestic product (GDP) amounted to 13.48 bln leva in current price terms in the first quarter of 2008, up 7% year on year, preliminary data of the the National Statistical Institute (NSI) show.

The GDP per capita totaled 1,760.31 leva in the period. Calculated in euros Bulgaria's GDP stood at 6.89 bln euros, while the per capita figure stood at 900 euros.

The GDP amounted to 10.32 bln US dollars at an average exchange rate of 1.306 leva per USD. The GDP per capita totaled 1,347.9 dollars.

The gross value added in the Bulgarian economy amounted to 10.95 bln leva (5.59 bln euros) in current prices in the first quarter of 2008. Calculated in comparative prices the gross value added marked a 7.6-percent increase compared to the corresponding period of 2007.

The services sector accounted for 63.2% of the gross value added in the economy in the first quarter of 2008, up 2.5 percentage points year on year.

The share of the industrial sector in the total gross value added in the economy marked a decline of 2.5 percentage from 34.6% in the first quarter of 2007 to 32.1% a year-later.

The share of the agrarian sector in the in the total gross value added in the economy remained unchanged at 4.7%.

Individual consumption stood at 84.5% of GDP, marking an increase of 5.7% compared to the first quarter of 2007.

Bulgaria's foreign trade balance for the first quarter of 2008 shows a gap of 3.7 bln leva.

The foreign trade turnover went up by 7.8% in the first three months of the year. The export of goods and services rose by 9.2%, while the increase in imports stood at 5.8%.

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