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GDP Down 3.8%in Q4 of 2020, Y/Y

February 16 (BTA) - According to seasonally adjusted figures, Bulgaria's gross domestic product (GDP) declined by 3.8 per cent in the fourth quarter of 2020 from the comparable period of 2019, but increased by 2.1 per cent from the third quarter of 2020, the National Statistical Institute reported here on Tuesday.

The country's GDP amounted to 32,076.9 million leva at current prices in the fourth quarter of 2020.

The gross value added (GVA) generated by the national economy during the fourth quarter of 2020 amounted to 27,778.1 million leva at current prices. Compared to the preceding quarter, it grew by 1.5 per cent but dropped by 3.8 per cent from the fourth quarter in 2019.

Final consumption expenditure accounted for 80.4 per cent of GDP during the fourth quarter of 2020, or 25,796 million leva. The gross fixed capital formation in Q4 2020 stood at 6,992.8 million leva, accounting for 21.8 per cent of the GDP. The external balance (exports minus imports of goods and services) was negative.

According to preliminary data on final consumption in Q4 of 2020, the main reason for the economic growth compared to Q3 of 2020 is the 11.3 per cent increase in exports of goods and services.

According to seasonally adjusted data, compared with the fourth quarter of 2019, the fourth quarter of 2020 saw a decrease in final consumption by 5.7 per cent, and in gross capital formation by 7.9 per cent. Exports of goods and services declined by 11.2 per cent and imports - by 3.9 per cent. RY/ZH


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