Bulgaria`s Q3 economic growth exceeds forecast09.12.2010

Bulgaria`s economy grew faster in the third quarter of the year than the flash estimate issued in November by the National Statistical Office (NSI), the statistics bureau said on December 9.
Gross domestic product (GDP) was 19.4 billion leva in July-September, an increase of 0.5 per cent over the same period of 2009 and 0.7 per cent higher than in the second quarter, NSI said in a statement. Cumulative GDP for the first nine months of 2010 was 50.66 billion leva.
The agriculture sector posted an increase of three per cent year-on-year, while the services and industrial sectors declined by 1.4 per cent and 1.3 per cent, respectively.
Consumption, which was one of the main drivers of economic growth in recent years, was down an annual 6.4 per cent for the quarter and investment was 5.3 per cent lower.
Exports posted an 18.5 per cent annual increase, while imports were up by only three per cent, resulting in a 2.38 billion euro trade surplus, the equivalent of 12.2 per cent of the GDP for the quarter.

Source: The Sofia Echo

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