National Statistical Institute reports Gross Domestic Product growth

In the first quarter of 2023, gross domestic product (GDP) grew by 2.3% compared to the first quarter of 2022 and by 0.5% compared to the fourth quarter of 2022 on a seasonally adjusted basis, National Statistical Institute (NSI) reported.

In the first quarter of 2023, GDP output amounted to BGN 39,970 million at current prices, according to preliminary data.

The per capita value of the indicator is BGN 6,201. At an average exchange rate for the quarter of BGN 1.822536 per USD 1, GDP amounts to BGN 21,931 million and to BGN 3,402 per capita, respectively. Converted into euros, GDP was EUR 2,036 million, with EUR 3,171 per capita.

The gross value added (GVA) created by the sectors of the national economy in the first quarter of 2023 amounts to 34,878 million in current prices.

In the first quarter of 2023, 78.5% of GDP was spent on final consumption. Investment (gross fixed capital formation) accounts for 13.7% of GDP.

The foreign trade balance of goods and services is positive.