Macroeconomic overview of 2008

In the third quarter of 2008, preliminary data presented by the National Statistical Institute Bulgaria, generate economic growth of 6.8 percent compared to the corresponding quarter of 2007.

In November 2008 the general price level decreased by 0.1% over the previous month. Average relative increase in consumer prices in November 2008 to November 2007 was 9.1 percent.

The level of unemployment in November 2008 is 5.85 percent, having remained at the level of the previous month.

In October 2008 industrial sales decreased by 5.0% and industrial production - by 1.9% compared to the corresponding month of 2007.

Exports for the period January-October 2008 amounted to 13 241.3 million and increased by 18.9 percent. Imports amounted to 20 641.7 million as increased by 22.7 percent over the same period of 2007.
For the period the volume of foreign trade turnover grew by 5.4 percent, exports of goods and services rose by 3.8 percent while the increase of imports of goods and services compared to the corresponding quarter of 2007 was 4.2 percent.

Foreign direct investments in Bulgaria for January-October 2008 amounted to 4867.8 million (14.3% of GDP) in 5364.2 million (18.6% of GDP) for January-October 2007

Inflation for the period January - November 2008 over the same period the previous year was 12.8 percent.

According to the Employment Agency in November 2008 level of unemployment in the country remains at the level of the previous month - 5.85 percent. In labor offices registered 216 842 unemployed - with 198 people more than the previous month.

Source: MEE