STRUCTURAL CHANGES IN GROSS VALUE ADDED AND THEIR RELATION TO THE ECONOMIC GROWTH OF BULGARIA IN THE PERIOD 1997-2017

Abstract

The changes in the sectoral composition of the economy reflect many processes and are an accurate indicator of the nature and rate of economic development of the state. What is more, sectoral structure is important for the analysis of economic development rate and the patterns and the increase in the productivity of all economic activities. Sectoral changes are important due to their role in the production process and the different labour productivity of different economic sectors and activities. Hence, the assessment and the use of the opportunities for accelerated development of the different sectors can contribute significantly to the economic growth and the increase of labour productivity.