Q1 GDP Growth at 3.6% Y/Y

Q1 GDP Growth at 3.6% Y/Y

Sofia, June 7 (BTA) - Bulgaria's GDP amounted to 21,479 million leva at current prices in the first quarter of 2018, which is 3.6 per cent higher than the first quarter of 2017 and 0.9 per cent more than the fourth quarter of last year, the National Statistical Institute reported Wednesday, citing seasonally adjusted data.

In euro terms, GDP amounts to 10,982 million euro, or 1,558 euro per capita. GDP per every employed person increased by 2.3 per cent in the first quarter of 2018, compared to the same quarter of the previous year.

The number of persons employed in the economy stood at 3,439,000, while the total number of hours worked was 1,393.4 million in the first quarter of 2018. Compared with the same quarter of the previous year, the structure of employment by economic sectors shows an increase in the relative share of industry and services sectors.

GDP was 6,245.7 leva per each employed person and 15 .4 leva per hour worked.

The gross value added (GVA) per employed person increased in real terms by 3.5 per cent, while the GVA per hour worked increased by 3.4 per cent in real terms in the first quarter of 2018, compared to the corresponding quarter of the previous year.

According to preliminary data for the first quarter of 2018, GVA per person employed in the industrial sector was 6,182.4 leva, while GVA per hour worked stood 14.5 leva. An average of 5,509.2 leva GVA was produced by each person employed in the service sector, which adds up to an average of 13.0 leva GVA per hours worked. The lowest labor productivity was observed in the agricultural sector - 708 leva GVA per employed person, and 2.3 leva per hours worked.

Source: Sofia