Bulgaria’s gross domestic product (GDP) grew by an annual 3.1% in the last quarter of 2024, following a 2.7% increase in the third quarter, the statistical office said.

On a quarterly comparison basis, Bulgaria’s economic output went up 0.8% in the fourth quarter of last year, at the same growth pace compared with the July-September period, the National Statistical Institute (NSI) said in a flash estimate, citing seasonally adjusted data.

Bulgaria’s GDP amounted to some 57.19 billion levs (29.24 billion euro) at current prices in the fourth quarter. The growth was mostly fueled by a 5.8% yearly increase in final consumption. At the same time, imports added 1.2%, while exports fell by 3.2% year-on-year.

In terms of GDP by expenditures, final consumption held the largest share in the last quarter of 2024 – at 79.9%, or nearly 45.72 billion levs. Gross capital formation contributed 13.16 billion levs, representing a share of 23%.

Trade balance, or exports minus imports, was in a deficit of some 1.69 billion levs.

Gross Value Added (GVA) amounted to 49.87 billion levs in October-December, the data showed.