Bulgaria's GDP shrank 8.5 percent from a year earlier in the second quarter of 2020, more than preliminary estimates of an 8.2 percent contraction and following a 2.4 percent expansion in the previous period, as the coronavirus pandemic hit the economy. That was the largest pace of contraction since the last quarter of 1996, as fixed investment declined 1.5 percent (vs 1.2 percent in Q1). Also, household consumption slowed (0.4 percent vs 4.1 percent). Meantime, net external demand contributed positively to the GDP, as exports fell 19 percent (vs 1.9 percent in Q1) while imports dropped at a slightly faster 19.1 percent (vs 1.2 percent in Q1). On a quarterly basis, the economy shrank 10 percent, the most on record and above earlier estimates of a 9.8 percent contraction.

GDP Annual Growth Rate in Bulgaria averaged 2.89 percent from 1996 until 2020, 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. This page provides - Bulgaria GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Bulgaria GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: National Statistical Institute, Bulgaria

GDP Annual Growth Rate in Bulgaria is expected to be -7.20 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 7.90 in 12 months time. In the long-term, the Bulgaria GDP Annual Growth Rate is projected to trend around 4.20 percent in 2021 and 3.20 percent in 2022, according to our econometric models.

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Bulgaria GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-8.50 2.40 17.20 -14.00 1996 - 2020 percent Quarterly
SA, WDA


Calendar GMT Actual Previous Consensus TEForecast
2020-05-15 08:00 AM YoY Prel Q1 2.4% 3.1% -0.3%
2020-06-04 08:00 AM YoY Final Q1 2.4% 3.1% 2.4%
2020-08-14 08:00 AM YoY Prel Q2 -8.2% 2.4% -14.8%
2020-09-04 08:00 AM YoY Final Q2 -8.5% 2.4% -8.2%
2020-11-13 09:00 AM YoY Prel Q3 -8.5% -7.2%
2020-12-04 09:00 AM YoY Final Q3 -8.5% -7.2%


News Stream
Bulgaria GDP Contracts More than Expected in Q2
Bulgaria's GDP shrank 8.5 percent from a year earlier in the second quarter of 2020, more than preliminary estimates of an 8.2 percent contraction and following a 2.4 percent expansion in the previous period, as the coronavirus pandemic hit the economy. That was the largest pace of contraction since the last quarter of 1996, as fixed investment declined 1.5 percent (vs 1.2 percent in Q1). Also, household consumption slowed (0.4 percent vs 4.1 percent). Meantime, net external demand contributed positively to the GDP, as exports fell 19 percent (vs 1.9 percent in Q1) while imports dropped at a slightly faster 19.1 percent (vs 1.2 percent in Q1). On a quarterly basis, the economy shrank 10 percent, the most on record and above earlier estimates of a 9.8 percent contraction.
2020-09-04
Bulgaria Economy Contracts the Most for Over 2 Decades
Bulgaria's GDP shrank 8.2 percent from a year earlier in the second quarter of 2020 as the coronavirus pandemic hit the economy, a preliminary estimate showed. That was the largest pace of contraction since the first quarter of 1997 as fixed investment slumped 3.8 percent (vs 1.2 percent in Q1) while final consumption growth eased to 0.4 percent (vs 4.1 percent in Q1). In addition, net external demand contributed negatively to the GDP as exports fell more than imports.
2020-08-14
Bulgaria GDP Growth Confirmed at Over 5-Year Low of 2.4%
Bulgaria's gross domestic product advanced by 2.4 percent year-on-year in the first quarter of 2020, following a 3.1 percent growth in the previous quarter and matching an earlier estimate. It was the weakest pace of expansion since the third quarter of 2014, mainly attributable to the Covid-19 blow. Slower increases were seen in household consumption (3.7 percent vs 6.4 percent in Q4); government spending (4.1 percent vs 5.3 percent) and fixed investment (1.2 percent vs 3 percent). Meanwhile, net external demand contributed positively to growth as exports advanced 1.9 percent (vs -0.4 percent in Q4) while imports rose at a softer 1.2 percent (vs -0.2 percent). On a quarterly basis, the economy expanded 0.3 percent, the least since the first quarter of 2014, compared to a 0.8 percent growth in the preceding quarter.
2020-06-04
Bulgaria GDP Annual Growth Weakest since 2014
Bulgaria's gross domestic product advanced by 2.4 percent year-on-year in the first quarter of 2020, following a 3.1 percent growth in the previous quarter, the preliminary estimate showed. It was the slowest pace of expansion since the third quarter of 2014, hampered by a decline in gross fixed capital formation (-5.3 percent vs -6.4 percent in Q4) and a slowdown in final consumption (4.1 percent vs 6.3 percent). On the other hand, net trade contributed positively to growth, as exports rose 1.1 percent (vs -0.4 percent in Q4) while imports decreased 0.6 percent (vs -0.2 percent in Q4). On a quarterly basis, the economy expanded 0.3 percent, the least since the first quarter of 2014, compared to a 0.8 percent growth in the previous period.
2020-05-15

Bulgaria GDP Annual Growth Rate
In Bulgaria, 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.