NSI makes an upward revision of 2022 GDP data; annual growth came to 3.9%
20.10.2023
Source: NSI; FFBH
The National Statistical Institute made a revision to GDP data for 2022. As a result, the economic growth was increased to 3.9%, up from the initially reported 3.4%, while GDP in nominal value amounted to BGN 167.8bn. The increase came mainly from upward revision of Gross Fixed Capital Formation (+BGN 4.9bn), while Private consumption (-BGN 1.5bn) and Net Exports (-BGN 1.0bn) were revised downward. The production approach showed biggest revision in Wholesale and retail trade; repair of motor vehicles and motorcycles (+BGN 1.5bn), Public administration and defence (+BGN 1.1bn), while downward revisions were made in Agriculture, forestry and fishing (-BGN 0.8bn) and Mining and quarrying; manufacturing (-BGN 0.7bn). This brought 2022 GVA up by BGN 3.6bn to BGN 149.2bn at current prices. The revised data for Q1 and Q2 2023 revealed smaller changes – 2.2% GDP growth for Q1 (2.1% previously) and 1.9% for Q2 (1.8% previously).