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Gross domestic product in Eurozone grew by 0.3% in Q3 2016

Gross domestic product in the Eurozone grew by 0.3% in Q3 2016 from the previous quarter, reported the European statistical office Eurostat. The throughout growth of the European Union (EU) for the same period was 0.4% compared to the previous quarter.

On an annual basis during the period July-September, the GDP in the Eurozone grew by 1.6% and in the EU was 1.8%, maintaining the same level of the April-June. In Bulgaria the growth yoy is 3.5%, which puts us in second place in growth after Romania (4.6%). On a quarterly basis, however, Bulgaria and Portugal are leading the statistics by a 0.8% GDP growth.

On Tuesday, Eurostat publishes data on trade. The exports from the Eurozone in September increased by 2% yoy to 176.7 billion EUR. The imports decreased by 2% to 150.2 billion EUR. So in September this year became surplus 26.5 billion EUR against 19.2 billion EUR in the same month last year.

The exports from across the EU in September recorded a decline on an annual basis from 1% to 147.2 billion EUR. Imports increased by 1% to 146.7 billion EUR. As a result, the EU surplus of 500 billion EUR.

In Bulgaria, exports decreased by 1% to 17.2 billion EUR, while imports recorded a decline of 4% to 18.8 billion EUR. Thus, the trade deficit became 1.6 billion EUR in September.

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