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Increased exports and consumption in first quarter of 2021 increase GDP by 2.5%

published on 5/18/21 11:59 AM

Photo: Library

The Bulgarian economy grew in the first quarter of 2021 by 2.5% compared to the last quarter of 2020, when a growth of 2.2% was also registered, the National Statistical Institute has announced.

Bulgaria's GDP still remains 1.8 percent lower, compared to the same period in 2020, when the country had not yet been hit by pandemic restrictions. In 2020, Bulgaria's GDP shrank by 8.6%, which is the largest economic decline registered since the 1997 crisis.

In the first quarter of 2021, the country's GDP amounted to over 13.5 billion euros. The economic growth in 2021 is due to the increase in exports of goods and services by 6.5% and final consumption by 1.6 percent.

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