Банкеръ Weekly

Briefs

GDP UP 4.8% IN THE FIRST HALF OF 2001

The gross domestic product (GDP) totalled BGL6.3915BN in the second quarter of this year, the National Statistics Institute (NSI) reported. In April, May and June per capita GDP was BGL782. The USD equivalent of GDP, calculated at the exchange rate of BGL2.140 per USD1, amounted to USD2.853BN, up 5.1% from the same period of 2000.The gross value added produced by all branches of the national economy, i.e. the difference between the ready output and its production cost at current prices, amounted to BGL5.7257, marking a 6.3% growth from the same period of 2000. GDP went up 4.8% in the first half of 2001 and totalled BGL12.279. Per capita GDP amounted to BGL1,503 in the six months from January till end-June. The economy produced gross value added amounting to BGL10.7039, up 5.4% from the first half of 2000.The private sector accounted for 68.7% of the value added, marking a 9.8% increase at the expense of the state sector, in which value added went down 3.1% from the first six months of last year.The downward trend in the agricultural sector persisted, Todor Todorov, Director of the National Economic Accounts and Balances Directorate with the NSI, commented. Production activity in the agricultural sector decreased by 8.1% from the first half of 2000. However, this is compensated by the 9.2% increase in industry and the 6% growth in the sphere of services.Investments went up 20% as compared to last year, and their relative share in the total volume of GDP reached 15.4 per cent. Individual consumption rose by 0.2% within the first six months of 2001 and its share reached nearly 80% of GDP, but at the same time marked a 2.2% decrease from the same period of last year.Meanwhile, Bulgaria's foreign trade reported a deficit of BGL802.1MN. Nevertheless, export is growing faster than import. Bulgarian products, marketed abroad went up 15.5%, and imports rose by 11.9 per cent.

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