Bulgaria reports 0.5% economic growth in Q2 2024
Bulgaria’s economy grew by 0.5 per cent in the second quarter of the year, according to preliminary data announced by the National Statistical Institute (NSI) on September 5. The figure was in line with last month’s NSI flash estimate.
Compared to the same period of 2023, Bulgaria’s economy grew by 2.1 per cent in the second quarter, slightly higher the two per cent figure in the NSI flash estimate.
In real terms, gross domestic product (GDP) in April-June was 47.68 billion leva, or 24.38 billion euro, NSI said.
NSI’s seasonally-adjusted preliminary data showed domestic consumption rose by 0.9 per cent during the second quarter, and was three per cent higher on an annual basis. Gross fixed capital formation shrank by 1.3 per cent in April-June, but it was 3.6 per cent up compared to the second quarter of 2023.
Exports in the second quarter were 1.4 per cent higher, while imports rose by two per cent, with the trade balance showing a surplus of 1.23 billion leva, or 2.6 per cent of GDP. Compared to the second quarter of last year, exports were down 0.3 per cent and imports were 4.9 per cent higher.
Bulgaria’s growth target for 2024 is 3.2 per cent, while the European Commission projected 1.9 per cent growth for Bulgaria’s economy in its spring forecast.
(Photo: Steve Ford/sxc.hu)
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