Bulgarian GDP exceeds expectations in Q3 2011

Economic growth in third quarter 2011 exceeded expectations of Bulgarian national statistics institute. GDP in 2Q compared to 2Q 2011 increased by 0.3 per cent and 1.6 per cent year-on-year growth or 0.3 percentage point higher than expected. Gross added value rose by 2.3 per cent compared to 2Q 2010. Sectors with positive results were mostly automotive and transportation related, where growth came in at 6.5 per cent, followed by mining and manufacturing at 4.2 per cent. Construction suffered the most with 5.1 per cent fall, followed by agriculture activities (2.3 per cent). 3Q GDP amounted to 21 billion BGN (10.7 billion EUR).

Source: Sofiaecho