site.btaQ3 2016 GDP up 3.4% Y/Y - Statistics

Q3 2016 GDP up 3.4% Y/Y - Statistics

Sofia, December 6 (BTA) - In the third quarter of 2016 GDP at current prices amounted to 25.336 million leva, preliminary data of the National Statistical Institute released on Tuesday show. Calculated in euro, GDP amounts to 12.954 million with 1,815 euro per capita. Seasonally adjusted data show a 3.4 per cent year-on-year GDP growth in the third quarter of 2016 and a 0.7 per cent quarter-on-quarter growth.

Gross value added (GVA) at current prices in the third quarter of 2016 amounted to 21.910 million leva. Compared to the third quarter of 2015, the share of the agricultural sector in GVA decreased by 0.7 percentage points to 7.3 per cent. The industrial sector increased its share in GVA by 1.4 percentage points to 28.9 per cent. The share of services decreased by 0.7 percentage points to 63.8 per cent year-on-year.

In the third quarter of 2016, final consumption expenditure formed 68.8 per cent of GDP. Investments (gross fixed capital formation) formed 18.5 per cent of GDP. Exports-imports external balance was positive.

In the third quarter of 2016 gross value added of the total economy rose by 0.6 per cent quarter-on-quarter. According to preliminary estimates of GDP by final expenditure, final consumption in the third quarter of 2016 rose by 0.5 per cent while gross fixed capital formation decreased by 0.9 per cent. Exports of goods and services increased by 3.0 per cent, while imports of goods and services increased by 2.7 per cent.

Third quarter 2016 GVA increased by 2.4 per cent year-on-year. With regard to expenditure components of GDP, final consumption contributed to the registered positive economic growth by 0.2 per cent. Exports and imports of goods and services increased by 9.5 per cent and 7.5 per cent respectively compared to the corresponding quarter of the previous year.

GDP in the third quarter of 2016 per one employed person rose by 4.2 per cent year-on-year.

The people employed in the economy numbered 3,618,600 and they worked for a total number of 1,452,400 hours. The structure of employment by economic activities showed an increase of the relative share of services year-on-year.

One employed person generates 7,001.6 leva of the current volume of GDP at an average 17.4 leva per working hour.

The average GDA per one employed rose by 3.0 per cent and by 3.2 per cent per hour year-on-year.