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The positive trade balance supports Bulgaria's economic growth

published on 6/4/20 1:19 PM

Photo: Archive

Economic growth in Bulgaria has slowed in the first quarter of 2020, mainly due to weaker final consumption even before the coronavirus pandemic, which severely affected both Bulgaria and the economies of Bulgaria's main trading partners. This is indicated by a preliminary assessment of the National Statistical Institute.

Bulgaria's GDP in the first quarter of 2020 has increased by only 0.3% compared to the last three months of last year, when it grew by 0.8%. On an annual basis, the slowdown in economic growth is up to 2.4% after a registered growth of 3.1% at the end of 2019.

The weak economic growth is supported by the positive trade balance of the country - in the first quarter of 2020 exports exceeded imports by over BGN 370 million (EUR 189 million).

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Radio Bulgaria News economic growth export import National Statistical Institute trade balance trading partner