For the first time since the start of the crisis, Bulgaria's gross domestic product (GDP) grew quarter on quarter. In April-June 2010, GDP showed a 0.5 per cent growth from January-March, according to seasonally adjusted data released by the National Statistical Institute (NSI) on Thursday.

The positive growth was due to an increased gross value added in construction, trade, hoteliery, transport and public administration, education, health care and other activities and activities of non-governmental organizations.

Gross value added in financial intermediation and business services continued to decline.

The principal factor of the positive GDP growth is the export of goods and services. Final consumption and investments continue to contract.

In real terms, GDP dropped 1.4 per cent in the second quarter of 2010 from the like period a year ago, the NSI said. According to preliminary data, the GDP in the second quarter of 2010 amounted to 16,874.7 million leva at current prices, which makes 2,238.1 leva per capita.

At the average exchange rate for the quarter of 1.541733 leva per US dollar, the GDP amounted to 10,945.3 million dollars, which makes 1,451.7 dollars per capita. Translated into euro, the GDP amounted to 8,627.9 million euro, which makes 1,144.3 euro per capita.

Foreign direct investment abroad for the January - July 2010 period was 68.0 million euro, up from 55.7 million euro for the same period of 2009. Foreign direct investment in Bulgaria was 731.0 million euro (2.1 per cent of the projected GDP), against 1,932.1 million euro (5.5 per cent of GDP) for January - July 2009.

In the second quarter of 2010 the external balance of goods and services was negative. Imports of goods and services exceeded the value of exportsby 771.2 million leva. Compared to the second quarter of 2009, exports of goods and services increased in real terms by 12.4 per cent, while imports were unchanged.

In August 2010, the Harmonized Index of Consumer Prices increased by 3.2 per cent from the same month of 2009. The highest increase, 25.3 per cent, was registered for alcoholic beverages and tobacco. Prices decreased for clothing and footwear, for communications, and for furnishings, household equipment and routine maintenance of the house.

Source: BTA