Bulgarian GDP expanded with 2.4% in the first quarter of 2020

Gross Domestic Product (GDP) expanded with 2.4% in the first quarter of 2020 compared to the same quarter of the previous year and with 0.3% compared to the fourth quarter of 2019 according to National Statistic Institute of Bulgaria.

Gross Value Added in the first quarter of 2020 amounted to 21 481.0 million BGN.

In the structure of GDP by the expenditure approach the largest share has the final consumption (84.9%), which in nominal terms is 21 346.5 million BGN.

In the first quarter of 2020 gross capital formation is 3 649.8 million BGN and has a share of 14.5% in GDP. The external balance (exports minus imports) has a positive sign.

The first quarter of 2020 GDP at seasonally adjusted data increased by 2.4% compared to the same quarter of the previous year. Gross value added increased by 2.3%.

As regards the expenditure components of GDP, the final consumption registered a positive economic growth of 4.1%. Gross fixed capital formation decreased by 5.3% in the first quarter of 2020 compared to the same quarter of the previous year at seasonally adjusted data. Exports of goods and services increased by 1.1% while imports of goods and services decreased by 0.6%.