BULGARIA’S GDP AND TRADE
According to the National Statistics Institute, Bulgaria’s GDP is still 4.4 % bellow its highest pre-recession level of the last quarter of 2008. It is expected to catch up in the end of 2012. The economic growth is expected to be about 2%. The slowing down of the economies of the major economic partners of Bulgaria continues and this is the main reason to expect slowing down of the Bulgarian economy in the short term. The share of industrial production is shrinking while the share of the services keeps growing. The share of the net export has decreased while the share of the domestic demand has increased. Bulgaria’s foreign trade keeps performing well despite the limited economic growth in the Eurozone and the shrinking of the domestic demand in the major economic partners of the country. The general turnover in 2011 has increased by 25% nominally. FOB has increased by 30.6% and has reached 18.5 billion Euros, while CIF has also increased by 20.6% and has reached 21 billion Euros. The FOB/CIF deficit has decreased by 23.5% in comparison with 2010 and is about 2.5 billion Euros or 6.3% of the expected GDP. The direct foreign investment for 2011 will most likely not exceed 1 billion Euros.
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