Bulgaria reports 0.6% economic growth in Q3 2024
Bulgaria’s economy grew by 0.6 per cent in the third quarter of the year, according to preliminary data announced by the National Statistical Institute (NSI) on December 6, exceeding last month’s 0.5 per cent growth flash estimate from NSI.
Compared to the same period of 2023, Bulgaria’s economy grew by 2.4 per cent in the third quarter, again exceeding the NSI flash estimate of 2.2 per cent.
In real terms, gross domestic product (GDP) in July-September was 53.77 billion leva, or 27.49 billion euro, NSI said.
NSI’s seasonally-adjusted preliminary data showed domestic consumption rose by 1.3 per cent during the third quarter, and was 4.6 per cent higher on an annual basis. Gross fixed capital formation grew by 3.3 per cent in July-September, and it was 7.3 per cent up compared to the third quarter of 2023.
Exports in the third quarter were 1.5 per cent lower, while imports fell by 0.1 per cent, with the trade balance showing a surplus of 3.47 billion leva, or 6.5 per cent of GDP. Compared to the third quarter of last year, exports were up 0.1 per cent and imports were three per cent higher.
Bulgaria’s growth target for 2024 is 3.2 per cent, while the European Commission projected 3.1 per cent growth for Bulgaria’s economy in its autumn forecast.
(Photo: Steve Ford/sxc.hu)
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