The Bulgarian economy recovered in the third quarter
Gross domestic product increased by 0.9%, after contracting by 0.3% in the second quarter, according to data from the NSI express assessment
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Bulgaria's gross domestic product (GDP) grew by 0.9% after shrinking by 0.3% in the second quarter. On an annual basis, GDP increased by 0.4% compared to the corresponding quarter of the previous year, after growing by 7.0% in the second. This shows the express assessment * of the National Statistical Institute (NSI), according to seasonally adjusted data.
GDP in value volume at current prices
In nominal terms, the GDP reached BGN 35,577.2 million, as the value added realized in the third quarter of 2021 was BGN 30,652.5 million.
By elements of final use, the largest share in GDP is occupied by final consumption with 74.9%, which in value terms amounts to BGN 26,633.2 million. In the third quarter of 2021, gross capital formation was BGN 7,235.8 million and accounted for 20.3% of GDP. The foreign trade balance is positive.
Quarterly changes
In the third quarter of 2021, compared to the previous quarter, GDP1 according to seasonally adjusted data increased by 0.9% (Annex, Table 2). For the same period the gross value added increased by 1.7%.
According to the express estimates of GDP by elements of final use in the third quarter of 2021, the reason for the registered economic growth according to seasonally adjusted data compared to the previous quarter is the increase in final consumption by 1.8%.
Annual changes
In the third quarter of 2021, GDP according to seasonally adjusted data increased by 0.4% compared to the same quarter of the previous year. Gross value added increased by 0.3%.
Final consumption registered an increase of 5.1%, while gross fixed capital formation decreased by 3.0% in the third quarter of 2021 compared to the corresponding quarter of the previous year according to seasonally adjusted data. Exports of goods and services increased by 12.5% and imports of goods and services increased by 11.1%.
* Express estimates of GDP are based on preliminary, currently available, monthly and quarterly data (subject to subsequent updates and revisions), on expert estimates and patterns of behavior of components of GDP, for which at the time of calculation is not available direct basic information. The developed express estimates for the third quarter of 2021 were prepared within 47 days after the reporting period.