UPDATE 1 - Bulgaria's GDP grows 1.7% y/y in Q1 - flash data

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):

Source: NSI

(1 euro = 1.95583 levs)