site.bta2019 Fourth-Quarter GDP Grows 3.1 Per Cent, Year on Year

March 5 (BTA) - According to preliminary data, Bulgaria's gross domestic product (GDP) at current prices was 32,682 million leva for the fourth quarter of 2019, or 4,677 leva per person, the National Statistical Institute reported on Thursday. In euro terms, GDP was 16,710 million euro or 2,391 euro per person.

The gross value added (GVA) generated by the national economy in the fourth quarter of 2019 amounted to 28,359 million leva at current prices. The GVA share of agriculture was unchanged from the same quarter of 2018. Compared to the fourth quarter of 2018, the GVA share of industry increased by 1.6 percentage points to 23.5 per cent. The GVA share of services grew in the last quarter of 2019 from 75.3 per cent to 73.7 per cent, year on year.

Final consumption expenditure accounted for 79.9 per cent of GDP in the fourth quarter of 2019, and gross fixed capital formation formed 20.8 per cent of GDP. The external balance (exports-imports of goods and services) was positive.

In the fourth quarter of 2019, GDP increased by 0.8 per cent from the third quarter, and GVA increased by 0.7 per cent. According to preliminary data, final consumption grew by 1.1 per cent, quarter on quarter, and gross fixed capital formation by 1.3 per cent. The export of goods and services decreased by 0.5 per cent, and the import of goods and services declined by 3.1 per cent from the previous quarter.

GDP for the fourth quarter of 2019 increased by 3.1 per cent from the same quarter of 2018, and GVA increased by 2.7 per cent. The growth was based on an increase in construction (4.3 per cent), agriculture (3.8 per cent), financial and insurance activities (3.8 per cent), public administration and defence; compulsory social security; education; human health and social work activities (3.7 per cent), and mining and quarrying; manufacturing; electricity, gas, steam and air conditioning supply; water supply, waste management and remediation activities (3.5 per cent). Individual final consumption grew by 6.4 per cent, and collective consumption by 5.3 per cent, year on year. Gross fixed capital formation increased by 3.0 per cent. The import and export of goods and services decreased by 0.2 per cent and 0.4 per cent, respectively, from October-December 2018.

Calculated as a sum of quarterly data, GDP for 2019 grew in real terms by 3.4 per cent from the previous year. The nominal value of GDP for 2019 was 118,669 million leva or 16,973 leva per person. In euro terms, GDP stood at 60,674 million euro or 8,678 euro person. GVA at current prices for 2019 amounted to 102,269 million leva. In real terms, GVA increased by 3.0 per cent, year on year. The GVA share of industry was 25.9 per cent, 0.1 percentage points up from 2018. Services generated 70.4 per cent of the total GVA (up from 70.3 per cent in 2018), and agriculture 3.7per cent (down from 3.9 per cent). RI/LG

/СН/