Bulgaria: Economic growth edges up in Q2
August 16, 2017
In the second quarter, the economy expanded 3.6% over the same period last year, according to preliminary data released on 28 August. The print came in slightly above the 3.5% year-on-year growth registered in the first quarter. Growth was fairly broad-based with contributions from both domestic demand and the external sector.
Total consumption recorded a 4.2% expansion over the previous year in Q2 (Q1: +4.3% year-on-year). Fixed investment dropped 0.9% yoy in Q2, which was a significant improvement on the 4.6% contraction registered in Q1.
On the external side of the economy, export growth accelerated from a 5.8% expansion in annual terms in Q1 to a 6.1% increase in Q2. Meanwhile, imports registered a 7.0% yearly expansion (Q1: +7.1% yoy). As a result, the external sector made a positive contribution, after having subtracted from growth in Q1.
More detailed data will be released on 5 September.
Author: Christopher Mc Innes, Economist