National Statistical Institute

site.btaTangible Fixed Asset Costs Significantly Increase in 2022 Y/Y

Tangible Fixed Asset Costs Significantly Increase in 2022 Y/Y
Tangible Fixed Asset Costs Significantly Increase in 2022 Y/Y
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In 2022, foreign direct investments (FDIs) in the non-financial sector increased year-on-year by a little over  EUR 1 billion, and the costs for the acquisition of tangible fixed assets (TFAs) increased by BGN 4.4 billion, according to a report by  the National Statistical Institute (NSI). 

There was a change in the sectors leading by volume of investments in TFAs, with industry  displacing services in the lead, further data from the NSI report show. In the ranking of the top three  assets acquired, the top three remained the same: machines, production equipment and apparatus; means of transport and land, but in terms of shares there was a recorded decrease.

On Tuesday, NSI announced preliminary data, according to which, as of December 31, 2022, investments amounted to EUR 29,251 million at current prices. Foreign direct investments in the non-financial sector as of December 31, 2021 amounted to EUR 28,137 million at current prices.

For the past two years, the profile of the priority investment sectors in the country has been the same, with certain adjustments in the volumes of investments. In 2022, the value of foreign direct investments in industry was the largest, EUR 12,822 million. Next was the services sector (trade, car and motorcycle repair, transport, warehousing and post, hotel and restaurant industry) with EUR 6,837 million. In 2021, investments in industry were EUR 12,210 million, and in services - EUR 6,278 million. 

Investments made in 2022 in the Creation and dissemination of information and creative products; telecommunications sector were 3.1 percentage points more than in the previous year, and in the Construction sector they decrease by 0.4 percentage points.

Costs of acquiring fixed tangible assets

In 2022, the costs for the acquisition of tangible fixed assets (TFAs) in all sectors of the economy were BGN 27,471 million at current prices, while in 2021 they were BGN 23,048 million, also at current prices.

Last year, the largest volume of investments in TFAs was invested in the industry sector (excluding construction) - BGN 7,115 million, followed by the service sector (trade, car and motorcycle repair, transport, storage and post offices, hotel and restaurant industry) with BGN 6,917 million. In 2021, the largest volume of investments in TFAs was invested in the services sector - BGN 5,908 million, followed by industry with BGN 5,623 million.

In 2022, there was an increase in the spending structure of TFAs in the industrial sector, with its relative share increasing by 1.5 percentage points compared to 2021, and a decline in the service sector (trade, auto repair and motorcycles, transport, warehousing and post, hotel and restaurant) by 0.5 percentage points. The tendency was similar in 2021, but the decline in the services sector was 6.9 percentage points.

Structure of costs for the acquisition of fixed tangible assets by types

In 2022, NSI registered a change in the structure of costs for the acquisition of fixed tangible assets by type. The relative share of investments in buildings, construction equipment and structures decreased by 0.5 points compared to the previous year and reached 34.9%, machinery, production equipment and apparatus also decreased by 0.1 points, acquisition of land decreased by 1.4 points, acquisition of means of transport - by 0.3 points, forming respectively 28%, 8.3% and 13.7% of the total volume of investments in TFAs. At the same time, the funds invested for other expenses increased by 2.3 points and reached 15.1%. 

In 2021, the relative share of investments in buildings, construction equipment and structures decreased by 9.8 points compared to 2020 and reached 35.2%. However, the invested funds in machines, production equipment and apparatus marked a growth of 2.7 points,  the acquisition of land incrsaed by 3.1 points, and acquisition  of means of transport - by 2.3 points, forming respectively 28.6%, 9.6% and 14% of the total volume of investments in TFAs.

/VE/

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By 14:42 on 02.03.2024 Today`s news

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