Buoyed by financial services, mining industry, Bulgaria's economy expands by 5.6% in H1_x000d_

21.09.2004 Source: Dnevnik

Bulgaria's GDP posted a growth in real terms of 5.6% year-on-year in the first half of 2004, handily outperforming the 2.3% growth in the Eurozone and the 2.5% growth of EU25, the National Statistical Institute said on September 20. The nominal value of the nation's H1 GDP stood at 16.922 bln levs ($10.616 bln) or 2,163 levs ($1,357) per capita, preliminary data show. With positive input from all sectors, value added generated by the economy in H1 came in at 14.563 bln levs, up 5.8% over the year-ago period. The biggest year-on-year increase in the gross value added - 7%, was recorded in industrial manufacture which created 31.9% of overall gross value added. The mining industry was the biggest contributor here, posting a 46.9% year-on-year jump in gross value added in H1. Gross value added in the services industry was up 5.8% in H1, boosted by the 38,6% year-on-year growth in financial intermediation, while the farming sector record a 1% growth. Equity investment rose 12.6% in the first half of 2004 to occupy a 20.2% share of GDP. Q2 real GDP was up 6% year-on-year and 2.8% quarter-on-quarter.