Key Indicators for Bulgaria (as of 05.07.2021)

In June 2021, the industrial confidence indicator decreased by 2.7 percentage points in comparison with May 2021

According to the National Statistical Institute business inquiries in June 2021, the industrial confidence indicator decreased by 2.7 percentage points in comparison with May 2021.

In April 2021, the working day adjusted Industrial Production Index rose by 22.8% in comparison with the same month of 2020. On an annual basis in April 2021, Industrial Production Index, calculated from working day adjusted data, rose in manufacturing by 26.2%, in the electricity, gas, steam and air conditioning supply by 14.5% and in the mining and quarrying industry by 4.6%.

In April 2021, working day adjusted data showed an increase of 15.7% in construction production, compared to the same month of 2020. On an annual basis in April 2021, the increase of production in construction, calculated from working day adjusted data, was determined from the positive rate in civil engineering, where the growth was by 21.5% and in construction - by 11.5%.

According to the preliminary data, Gross Domestic Product (GDP) at current prices for the first quarter of 2021 is 27 054 million BGN. GDP per person is 3 912 BGN. GDP is 16 671 million USD and 2 411 USD per person using the average for the quarter exchange rate of 1.622815 BGN for 1 USD. In Euro, terms GDP reaches 13 833 million EUR in total and 2 000 EUR per person. Seasonally adjusted data show a decline of 1.8% compared to the corresponding quarter of the previous year and an increase of 2.5% compared to the fourth quarter of 2020.

Private consumption

In April 2021, the total consumer confidence indicator increases by 2.7 percentage points compared to its January level, as for the urban population the increase is 2.4 percentage points and for the rural population - 2.7 percentage points. The consumers’ opinions about the development of the general economic situation in the country over the last 12 and the expectations over the next 12 months are less negative in comparison with 3 months ago.

In April 2021, the working day adjusted turnover in “Retail trade, except motor vehicles and motorcycles” grew by 25.9% in comparison with the same month of 2020. In April 2021, compared to the same month of 2020, the rise of turnover was reported in “Retail sale of automotive fuel in specialized stores” (41.2%), in “Retail sale of non-food products, except fuel” (40.5%) and in “Retail sale of food, beverages and tobacco” (6.0%).

During the first quarter of 2021, 73.4% of GDP were spent on individual consumption. According to seasonally adjusted data, the indicator increases by 2.5% in real terms compared to the respective quarter of 2020.

Investment

In April 2021, the average capacity utilization in the industry was by 0.8 percentage points below its January level and it reached 73.2%.

The relative share of gross fixed capital formation in GDP in the first quarter of 2021 is 13.9%. According to seasonally adjusted data, that indicator increases by 1.0% in real terms compared to the same period of the previous year.

Labour market

In the first quarter of 2021, there were 3 028.7 thousand employed persons, 1 626.4 thousand men and 1 402.3 thousand women. The employment rate was 51.4% (57.7% for men and 45.6% for women).

In the first quarter of 2021, there were 204.0 thousand unemployed persons, of whom 114.0 thousand (55.9%) men and 90.0 thousand (44.1%) women. The unemployment rate was 6.3%, 6.6% and 6.0% for men and women respectively.

In the first quarter of 2021, the total hourly labour cost (preliminary data) rose by 4.9% compared to the first quarter of 2020. The total hourly labour cost decreased by 0.4% in industry, while in services and construction there was an increase by 3.5 and 9.4% respectively.

According to the NSI business inquiries in June 2021, 25.0% of the industrial enterprises pointed out the labour shortage as a factor limiting their activity.