site.btaBulgaria's GDP Grows 1.7% Y/Y in Q1

In the first quarter of 2024, Bulgaria's GDP grew by 1.7% compared to the first quarter of the previous year and by 0.4% from the previous quarter, according to seasonally adjusted data put out by the National Statistical Institute (NSI) on Wednesday.  The gross value added grew by 2.2 per cent.

Final consumption showed a growth of 4.1%. Exports of goods and services decreased by 1% and imports of goods and services declined by 3.8%.

In the first quarter of 2024, GDP, seasonally adjusted, increased by 0.4% compared with the previous quarter. Gross value added rose by 1%.

According to NSI's flash estimates for the first quarter of 2024, GDP in nominal terms reached BGN 40,625.3 million.

The value added in the first quarter of 2024 was BGN 35,681.1 million. In terms of end-use elements, final consumption accounts for the largest share in GDP with 84.4%, which in value terms amounts to BGN 34,272.3 million.

The foreign trade balance showed a deficit.