Gross domestic product growth reported by NSI

The gross domestic product (GDP) for 2022, obtained as a sum of quarterly data, increases in real terms by 3.4% compared to 2021, data from the National Statistics Institute show.

For 2022. GDP reaches a nominal value of BGN 165 384 million. Converted into US dollars at an annual average exchange rate of BGN 1.861798 to USD 1, GDP amounts to USD 88 830 million.

Per capita, 24 252 BGN of the volume of the indicator, or 13 026 dollars. Converted into euros, GDP is accordingly 84 559 million euros, with 12 400 euros per capita.

Gross value added amounts to 145 614 million BGN. The real value volume of the indicator is 3.4% higher than that reached in 2021.

The industrial sector creates 29.5% of the economy's value added, which is an increase of 5.7 percentage points compared to 2021. The services sector declines to 65.5%, from 71.2% in 2021, and the agricultural sector remains unchanged at 5.0% of value added.

In the fourth quarter of 2022, gross domestic product (GDP) grew by 2.3% compared to the fourth quarter of 2021 and by 0.6% compared to the third quarter of 2022 on a seasonally adjusted basis. Over the same period, 82.8% of GDP is spent on final consumption. Investment (gross fixed capital formation) accounts for 18% of GDP. The external trade balance on goods and services is negative.

Preliminary data for 2022 show a net trade deficit of 0.6 %. GDP per employee increases in real terms by 2.1% compared to the previous year.

The employed persons in the economy are 3,502.1 thousand and the total number of hours worked is 5,668.9 million. The employment structure by economic sector in 2022 compared to 2021 shows an increase in the relative share of the service sector and a decrease in the relative share of the agricultural sector.

Each person employed accounts for BGN 47,224.4 of the current Gross Domestic Product (GDP), with each person employed generating an average of BGN 29.2 per person employed. GDP per hour worked.

In 2022, gross value added (GVA) on average per employee increases by 2.2% in real terms and per man-hour worked increases by 2.2% in real terms.

Preliminary data for 2022 puts the level of labour productivity in the industrial sector at BGN 49,124.1 GVA on average per employee and BGN 29.6 per man-hour worked. In the service sector, each employee produces an average of 41 535.6 BGN per hour worked. GVA, with an average of BGN 25.2 produced per man-hour worked from the current volume of the indicator. Labour productivity in the agricultural sector is the lowest at BGN 13 323.4 per person-hour. GVA per employee and BGN 9.2 per man-hour worked.

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