May 15 (SeeNews) - Bulgaria's gross domestic product (GDP) went up by 1.7% on the year in the first quarter of 2024, following a 1.6% annual growth in the fourth quarter of last year, the statistical office said on Wednesday.
On a quarterly comparison basis, Bulgaria's GDP increased by 0.4% in January-March after climbing by 0.5% in the October-December period of 2023, the National Statistical Institute (NSI) said in a flash estimate, quoting seasonally adjusted data.
Bulgaria's first-quarter GDP came in at some 40.63 billion levs ($22.43 billion/20.77 billion euro) at current prices.
The growth in GDP was supported by a 4.1% annual rise in final consumption and a 7.7% leap in gross fixed capital formation. Meanwhile, imports lost 3.8% on the year, while exports declined by 1%.
In terms of GDP by expenditures, final consumption made up the largest share in the first quarter of 2024 - at 84.4%, or 34.27 billion levs. Gross capital formation stood at some 6.92 billion levs, representing a share of 17%.
Gross Value Added (GVA) amounted to 35.68 billion levs in January-March, the data showed.
Details follow (pct change):
|
Q1 y/y |
Q1 q/q |
GDP |
1.7 |
0.4 |
Final consumption |
4.1 |
1.3 |
Gross fixed capital formation |
7.7 |
1.6 |
Exports (goods, services) |
-1.0 |
-1.3 |
Imports (goods, services) |
-3.8 |
-1.9 |
Source: NSI
(1 euro = 1.95583 levs)