Bulgaria’s GDP expanded 3.7 percent year-on-year in the third quarter 2019, easing from a 3.8 percent advance in the previous period and in line with a preliminary reading, final estimates showed. Households consumption slowed (5.4 percent vs 6.7 percent in Q2) while both gross fixed capital formation (1.8 percent vs 1.5 percent) and government expenditure (2.8 percent vs 1.3 percent) rose faster. Meantime, net foreign trade contributed positively to growth, as exports rose 1.3 percent (vs -2.5 percent in Q2) while imports went up at a softer 1.2 percent (vs -3.9 percent in Q2). On a quarterly basis, the economy advanced 0.8 percent, below a 0.9 percent growth in Q2 but slightly above flash estimates of 0.7 percent. Still, it was the lowest GDP growth rate since Q1 2018. GDP Annual Growth Rate in Bulgaria averaged 3.02 percent from 1996 until 2019, reaching an all time high of 17.20 percent in the first quarter of 1998 and a record low of -14 percent in the third quarter of 1996. source: National Statistical Institute, Bulgaria
GDP Annual Growth Rate in Bulgaria is expected to be 3.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Bulgaria to stand at 3.20 in 12 months time. In the long-term, the Bulgaria GDP Annual Growth Rate is projected to trend around 3.20 percent in 2020, according to our econometric models.