Bulgaria's GDP shrank 10 percent on quarter in the three months to June of 2020, more than preliminary estimates of a 9.8 percent contractions and following a 0.3 percent expansion. This was the deepest quarterly GDP contraction on record amid efforts to contain the rapid spread of COVID-19. On a yearly basis, the economy shrank 8.5 percent, the most since the last quarter of 1996.

GDP Growth Rate in Bulgaria averaged 0.86 percent from 1997 until 2020, reaching an all time high of 13.40 percent in the fourth quarter of 1997 and a record low of -10 percent in the second quarter of 2020. This page provides - Bulgaria GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Bulgaria GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: National Statistical Institute, Bulgaria

GDP Growth Rate in Bulgaria is expected to be -0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Bulgaria to stand at 3.10 in 12 months time. In the long-term, the Bulgaria GDP Growth Rate is projected to trend around 3.30 percent in 2021 and 1.00 percent in 2022, according to our econometric models.

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Bulgaria GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-10.00 0.30 13.40 -10.00 1997 - 2020 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2020-05-15 08:00 AM QoQ Prel Q1 0.3% 0.8% -2.2%
2020-06-04 08:00 AM QoQ Final Q1 0.3% 0.8% 0.3%
2020-08-14 08:00 AM QoQ Prel Q2 -9.8% 0.3% -12.5%
2020-09-04 08:00 AM QoQ Final Q2 -10% 0.3% -9.8%
2020-11-13 09:00 AM QoQ Prel Q3 -10% -0.3%
2020-12-04 09:00 AM QoQ Final Q3 -10% -0.3%

Bulgaria GDP Growth Rate
Bulgaria is one of the lowest income member states of the European Union to which it belongs since 2007. The main sectors of Bulgarian economy are services (59 percent of total GDP), followed by industry (24 percent) and agriculture (5 percent). On the expenditure side, household consumption is the main component of GDP and accounts for 63 percent of its total use, followed by gross fixed capital formation (21 percent) and government expenditure (17 percent). Exports of goods and services account for 65 percent of GDP while imports account for 66 percent, subtracting 1 percent of total GDP.