Bulgaria Q1 GDP growth slows more than estimated

Figures

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Bulgaria's economic output increased by 4% year-on-year in the first quarter of 2022, following an annual rise of 4.5% in the final quarter of 2021, the National Statistical Institute (NSI) in Sofia said on Wednesday, lowering its May flash estimate of first-quarter growth by 0.5 percentage points.

Still, it was the fourth quarter of growth. On the expenditure breakdown, final consumption increased 5.2% annually in the March quarter and gross capital formation logged a significant growth of 30.6%.

Exports climbed 6.5% compared to last year, while imports grew at a much faster pace of 13.5%. On a quarterly basis, GDP growth moderated to 0.8% in the first quarter from 1.3% in the preceding three-month period.

According to flash data, the rate of increase was 1%. Bulgaria's GDP totaled some BGN 32.8 billion (EUR 16.8 billion) at current prices in Q1.

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