Bulgaria’s GDP down 3.6% YoY in Q1

10.06.2010 Source: NSI; FFBH

Bulgaria’s GDP was down by 3.6% YoY in Q1 2010, according to latest NSI data. The decline is lower than the 4% announced earlier according to the statistics office’s flash estimates. In nominal terms GDP reached BGN 14.1bn in current prices. In Q1 10 gross value added was BGN 12bn in current prices, down 1.1% YoY. The share of the agricultural sector in gross value added of the economy decreased to 3.4% in Q1 2010 from 4.0% in the same period of 2009 and the share of the industrial sector declined to 29.9% from 31.1% in Q1 2009. The share of the services sector increased to 66.7% in Q1 2010 vs 64.9% for Q1 2009. Value added in the services sector declined by 1.2% YoY, while the industrial and agricultural sectors reported YoY drops of 0.9% and 1.3% respectively.