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.

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Bulgaria GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.70 3.80 17.20 -14.00 1996 - 2019 percent Quarterly
SA, WDA


Calendar GMT Actual Previous Consensus TEForecast
2019-08-14 08:00 AM GDP Growth Rate YoY Prel Q2 3.3% 3.5% 3.1%
2019-09-05 08:00 AM GDP Growth Rate YoY Final Q2 3.5% 3.5% 3.3%
2019-11-14 09:00 AM GDP Growth Rate YoY Prel Q3 3.7% 3.8% 3.3%
2019-12-05 09:00 AM GDP Growth Rate YoY Final Q3 3.7% 3.8% 3.7%
2020-02-14 09:00 AM GDP Growth Rate YoY Prel Q4 3.7% 3.6%
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News Stream
2019-11-14
Bulgaria GDP Growth Slows to 3.7% YoY in Q3
Bulgaria’s GDP grew 3.7 percent year-on-year in the third quarter of 2019, easing from an upwardly revised 3.8 percent advance in the previous period, preliminary estimates showed. Final consumption slowed (4.9 percent vs 5.5 percent in Q2) while gross fixes capital formation advanced faster (2.2 percent vs 1.5 percent). Meantime, net foreign trade contributed positively to growth, as exports rose 0.4 percent (vs -2.5 percent in Q2) while imports fell 1.7 percent (vs -3.9 percent). On a quarterly basis, the economy expanded 0.7 percent, compared to a 0.9 percent growth in Q2.

2019-09-05
Bulgaria Q2 GDP Growth Revised Higher to 3.5%
Bulgaria’s economy advanced 3.5 percent year-on-year in the second quarter of 2019, the same as in the previous period and higher than a preliminary estimates of 3.3 percent. Both household (2.8 percent vs 4.9 percent in Q1) and government consumption (3.7 percent vs 5.2 percent) slowed while gross fixed capital formation advanced at a softer pace (2.2 percent vs 2.5 percent). Regarding net trade, exports rose 3.7 percent (from 5.1 percent in Q1) while imports declined 2.0 percent (from 3.9 percent in Q1). On a quarterly basis, the GDP grew 0.8 percent compared to a 1.2 percent in the first quarter of 2019.

2019-08-14
Bulgaria GDP Growth Slows in Q2 to 3.3%
Bulgaria's economy advanced 3.3 percent year-on-year in the second quarter of 2019, easing from a 3.5 percent growth in the previous quarter, the preliminary estimate showed. Both fixed investment (2.2 percent vs 2.5 percent in Q1) and final consumption (2.7 percent vs 4.5 percent) slowed. Regarding net trade, exports rose 3.3 percent (vs 5.1 percent in Q1) while imports declined 5.5 percent (vs 3.9 percent in Q1). On a quarterly basis, the GDP grew 0.6 percent compared to a 1.2 percent in the first quarter of 2019.

2019-06-06
Bulgaria Q1 GDP Growth Revised Higher to 3.5%
Bulgaria's economy advanced 3.5 percent year-on-year in the first quarter of 2019, higher than a preliminary estimate of 3.4 percent and following a 3.2 percent expansion in the previous period, final figures showed. It was the strongest growth rate in a year, as government spending increased further (5.2 percent from 4 percent in Q4). Meanwhile, household consumption slowed to 4.9 percent from 5.7 percent in the prior period and gross fixed capital formation eased to 2.5 percent from 6.6 percent. Net trade contributed positively to the GDP as exports rose 5.1 percent (vs 1.4 percent in Q4) and imports went up at a softer 3.9 percent (vs 1.6 percent in Q4). On a quarterly basis, the economy expanded 1.2 percent, above a preliminary reading of 1.1 percent, the most in over two years, and after a 0.8 percent growth in the last quarter of 2018.

2019-05-15
Bulgaria GDP Annual Growth Strengthens to 3.4% in Q1
Bulgaria's economy advanced 3.4 percent year-on-year in the first quarter of 2019, above 3.2 percent in the previous period, preliminary estimates showed. It is the strongest expansion since Q2 2018, as exports rose sharply (5.0 percent vs 1.4 percent in Q4) while imports advanced at a softer pace (1.7 percent vs 1.6 percent). Meanwhile, final consumption (3.5 percent vs 5.0 percent) and gross fixed capital formation (2.6 percent vs 6.6 percent) slowed. On a quarterly basis, the GDP expanded 1.1 percent, up from 0.8 percent in the previous quarter.

2019-03-07
Bulgaria GDP Growth Rate Revised Higher to 3.2% YoY in Q4
Bulgaria's gross domestic product advanced 3.2 percent year-on-year in the fourth quarter of 2018, above the preliminary estimate of a 3.1 percent expansion and following a 3.1 percent growth in the previous period. Government spending rose faster (4.0 percent from 3.6 percent in Q3) while household consumption (5.5 percent from 8.3 percent) and gross fixed capital formation (6.6 percent from 7.0 percent) slowed. Meanwhile, net trade contributed negatively to growth, as exports went up 1.4 percent (from -3.6 percent in Q3) while imports increased at a faster 1.6 percent (from 4.0 percent in Q3). On a quarterly basis, the GDP expanded 0.8 percent, following a 0.7 percent increase in the previous period and above earlier estimates of 0.7 percent. For 2018, GDP expanded 3.1 percent, the least since 2014 and slowing from a 3.8 percent gain in 2017.


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.

Bulgaria GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.80 0.90 13.40 -7.70 percent [+]
GDP Annual Growth Rate 3.70 3.80 17.20 -14.00 percent [+]
GDP 65.13 58.22 65.13 9.70 USD Billion [+]
GDP Constant Prices 27825.07 25150.25 27825.07 209.23 BGN Million [+]
Gross Fixed Capital Formation 4747.32 5307.84 7556.58 644.39 BGN Million [+]
GDP per capita 8651.10 8331.20 8651.10 3223.81 USD [+]
GDP per capita PPP 19320.76 18606.22 19320.76 8001.70 USD [+]
GDP From Agriculture 1669.59 884.90 1938.55 9.99 BGN Million [+]
GDP From Construction 1445.80 1211.33 1801.13 3.40 BGN Million [+]
GDP From Manufacturing 5940.19 5544.87 5940.19 30.78 BGN Million [+]
GDP From Public Administration 3474.30 4038.58 4038.58 9.17 BGN Million [+]
GDP From Services 6187.33 5583.13 6900.26 18.12 BGN Million [+]