Bulgaria’s Gross Domestic Product (GDP) grew by 2.9% year-on-year in the third quarter, according to a flash estimate of the National Statistical Institute released.

Third-quarter GDP expanded by seasonally adjusted 0.7% compared to the second quarter of 2015.

GDP for the third quarter amounted to BGN 23.6 B at current prices according to the flash estimate, the NSI said.

In terms of type of expenditure, final consumption had the largest share in the structure of GDP in the third quarter (68.7%), followed by gross capital formation (22.8%).

Bulgaria ran a trade surplus of BGN 2.0 B in the third quarter which had a share of 8.5% in GDP. Exports of goods and services totalled BGN 15.9 B versus imports of BGN 13.9 B.

The GDP growth in the third quarter compared with the prior quarter was led by an increase in final consumption (+1.1 %) and gross capital formation (+0.1%.)

Compared with year ago, final consumption increased by 1.1% in the third quarter of 2015, while gross capital formation decreased by 0.9%. Exports and imports of goods and services rose by 2.6% and 1.2%, respectively.