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Bulgaria 2009 Gross Domestic Product down 6% Y/Y in 2009 Q4

Date: 06.04.2010

Bulgaria's Gross Domestic Product (GDP) in the last quarter of 2009 is BGN 17.9 B or BGN 2 400 per person, data published by the National Statistics Institute (NSI) reveals.

Compared to the same period of 2009, the GDP is down by nearly 6 %.

NSI released Tuesday information about key economy indexes by quarters for 2009 and preliminary data for January 2010.

In the forth quarter of 2009, the number of employed over the age of 15 is 3.17 million people – down by 192 000 year on year while the employment index is down 2.6 %.

The unemployed in the last three months of 2009 are 273 000 or 7.9 % of those in employment age. Compared to the same period of 2008, the unemployment index increases by nearly 3 % and the number of unemployed by 93 000.

In December 2009, the average salary for the country is BGN 625 – over 4 % more than November and over 10% more year on year.

In January 2010, the current account shows a EUR 242 M deficit (0.7 % of the forecast GDP) compared to EUR 552 M (1.6 % of GDP) in January 2009.

The trade balance in January is negative by EUR 174 M (0.5 % from GDP) compared to EUR 344 M (1 % from GDP) year on year.

The January 2010 export is EUR 917 M compared to EUR 813 M in the same month of 2009 and is up nearly 13% annually with a 27 % decrease in January 2009. The data for the export is BGN 1.09 B, and BGN 1.16 B respectively – 5.7 % down year on year with a 33 % decrease for January 2009.

Bulgarian investments abroad for January 2010 are EUR 2 M compared to EUR 8 M in January 2009. The direct foreign investments in the country in January 2010 are EUR 53 M (0.2 % from the forecast GDP for 2010) compared to EUR 392 M (1.2 % from the GDP) year on year. These investments cover nearly 22 % of the current account deficit compared to 71 % in January 2009.

The external trade balance for goods and services for the 4th quarter of 2009 is negative. The import of goods and services is BGN 1.48 B higher than the export. During the same period of 2008 the export went up by 0.8 % while the import is down 20 %.

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