site.btaBulgarian GDP Increases by 3.3% in Q3, Y/Y

In the third quarter of 2022, the GDP grew by 3.3% compared to the third quarter of 2021 and showed an increase of 0.6% from the second quarter of 2022, according to seasonally adjusted data. During the same period, the gross value added (GVA) increased by 3.1% on an annual basis and by 0.6% on a quarterly basis according to preliminary and seasonally adjusted data.

The annual increase of the gross value added is determined by the growth in the following economic activities:

• Mining and quarrying; manufacturing; electricity, gas, steam and air conditioning supply; water supply, waste management and remediation activities - 17.7%;
• Professional, scientific and technical activities; administrative and support service activities - 1.4%;
• Public administration and defence; compulsory social security; education; human health and social work activities - also 1.4%;
• Financial and insurance activities - 0.8%; and
• Real estate activities - by 0.6%.

A decline was registered in Construction (by 13.4%); in Wholesale and retail trade, repair of motor vehicles and motorcycles, transportation and storage, accommodation and food service activities (by 0.7%), and Arts, entertainment and recreation, repair of household goods and other services (0.1%).