Bulgarian Economy Grows by 6,2% in Q1

Bulgaria's gross domestic product (GDP) in the first three months of the year was EUR 5,88 B, growing by a real 6,2% compared to the same period of last year, the country's statistics board NSI said on Tuesday.

GDP per capita was EUR 763,3.

The services sector grew the fastest, by a real 8,1% and accounted for 61,8% of all economic activity.

Industrial growth was 8,1%, accounting for 33,5% of the final GDP figure, while agriculture grew by 2,5% and made up 4,7% of the economy.

In the first quarter of 2006, Bulgaria's economy grew by 5.5%, but growth picked up later in the year, with annual data showing an increase of 6,1%, well short of the 6,5% official target.

It was the third consecutive year of slow decline, from 6,6% in 2004 and 6,2% in 2005.

In nominal terms, Bulgaria's GDP last year was BGN 49,1 B, or EUR 25,1 B.