In the third quarter, GDP expanded 1.6% over the same period last year, according to the revised estimate released by the National Statistical Institute (NSI) on 6 December. The reading came in a notch above the 15 November preliminary estimate of a 1.3% rise, but was below the 2.0% expansion registered in the second quarter. In comparison with the previous quarter, GDP expanded 0.3% in seasonally and working-day adjusted terms, unchanged from the previous quarter. The quarterly reading reflected a weaker external sector, whereas private consumption improved (Q3: +1.7 year-on-year, Q2: +1.4% yoy). Meanwhile, gross fixed capital formation dropped 2.8% year-on-year (Q2: +8.4% yoy). The external sector's net contribution to overall economic growth deteriorated markedly, as acceleration of imports outpaced weaker exports growth. Exports of goods and services slowed to a 2.0% increase over the same period last year (Q2: +12.2% yoy), while imports accelerated, expanding 8.1% (Q2: +7.5% yoy). The government sees the economy expanding 2.8% this year, while GDP is expected to moderate to a 2.5% expansion next year amid depressed conditions in Western Europe.
Economic growth slows in the third quarter
December 6, 2011
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Bulgaria Economic News
October 12, 2016
In September, consumer prices decreased 0.5% from the previous month, which followed the 0.1% decline recorded in August.
October 7, 2016
In August, industrial production grew 2.6% from the same month last year in working-day adjusted terms, accelerating from July’s 2.3% increase.
September 13, 2016
In August, consumer prices decreased 0.1% over the previous month, which contrasted the sharp 1.0% increase recorded in July.
September 5, 2016
Revised data released on 5 September confirmed that the economy expanded 3.0% over the same period last year in Q2.
August 12, 2016
In the second quarter, the economy expanded 3.0% over the same period last year, according to preliminary data released on 12 August.