GDP Growth at 3.5% in Q2

According to seasonally adjusted data, GDP growth in the second quarter of 2019 was 3.5 per cent compared to the same quarter of last year and 0.8 per cent compared to the previous quarter, the National Statistical Institute (NSI) reported here on Thursday. According to NSI preliminary data, this country's GDP amounted to 29,107 million leva at current prices in the second quarter of 2019. In euro terms, GDP adds up to 14.998 million euro, or 2,128 euro per capita.

Gross value added (GVA) at current prices equalled to 25,058 million leva in the second quarter of 2019.

The relative share of the agricultural sector in the value added of the economy went up by 0.1 percentage points in the second quarter compared to the previous quarter. The share of the industrial sector has decreased by 1.5 percentage points to 28.2 per cent. The relative share of value added from service activities has increased from 66.7 per cent in the second quarter of 2018, to 68.1 per cent in the second quarter of 2019.
 
 
The final consumption expenditure formed 74.6 per cent of GDP in the second quarter of this year. Investments (gross fixed capital formation) composed 20.0 per cent of GDP. The external balance (exports-imports) is positive.

The gross value added of the total economy has gone up by 1.1 per cent in the second quarter, compared to the previous quarter of this year.

According to preliminary seasonally adjusted data for the second quarter of  2019, final consumption has decreased by 0.1 per cent, while gross fixed capital formation has increased by 0.7 per cent, compared to the previous quarter. In the second quarter of 2019, seasonally adjusted exports of goods and services have decreased by 2.9 per cent compared to the previous quarter, while imports of goods and services have gone down by 5.0 per cent.
 
Gross value added has increased by 3.4 per cent in the second quarter of this year, compared to the previous quarter. This indicator is determined by the increase recorded in: real estate activities - 6.7 per cent, financial and insurance activities - 6.2 per cent, information and communication - 3.3 per cent, professional, scientific and technical activities; administrative and support service activities - 2.7 per cent, public administration and defence; compulsory social security; education; human health and social work activities - 2.2 per cent.
 
As regards the expenditure components of GDP, the main contributors to the registered positive economic growth were collective final consumption - with growth of 3.7 per cent; individual final consumption - with 2.8 per cent; and gross fixed capital formation - growth of 2.2 per cent. Exports of goods and services have increased by 3.7 per cent, whereas imports of goods and services have dropped by 2.0 per cent.