GDP in Bulgaria
Bulgaria - GDP
Economy slows slightly in Q3
Bulgaria’s economy lost some momentum in the third quarter of 2016, mirroring the slowdown seen throughout Central and Eastern Europe. Data released on 6 December showed that the Bulgarian economy expanded 3.4% in Q3 compared to the same period of the previous year (previously reported: +3.5% year-on-year), below the 3.6% growth in Q2 and marking the slowest growth rate in six quarters. Q3’s lower growth was largely driven by a drop in fixed investment, while total consumption grew at the slowest pace since Q4 2014 and the country’s external sector improved. With the external sector picking up the slack left as a result of worsening figures for consumption and investment in Q3, Bulgaria remains on course to grow above the regional average in 2016.
Total consumption expanded by a meagre 0.2% in Q3 (Q2: +1.2% year-on-year). Private consumption grew 1.3% (Q2: +2.5% year-on-year) while government consumption shrank 1.6% (Q2: -2.2% year-on-year). Fixed investment worsened from a 0.1% contraction in Q2 to a 1.8% decrease in Q3.
On the external side of the economy, exports improved from a 4.5% expansion in Q2 to a 9.5% increase in Q3. Imports also accelerated from a 2.8% increase in Q2 to a 7.5% rise in Q3. As a result, the external sector’s net contribution to economic growth rose slightly from plus 1.0 percentage point in Q2 to plus 1.1 percentage points in Q3.
The Ministry of Finance expects the economy to expand 2.9% in 2017. FocusEconomics Consensus Forecast participants also expect GDP to expand 2.9% in 2017, which is unchanged from last month’s Consensus. In 2018, panelists also see the economy growing 2.9%.
Bulgaria - GDP Data
|Economic Growth (GDP, annual variation in %)||1.6||0.2||1.3||1.6||3.0|
5 years of economic forecasts for more than 30 economic indicators.
Bulgaria GDP Chart
Source: National Statistical Insitute (NSI) and FocusEconomics calculations
|Bond Yield||1.71||-2.84 %||Feb 16|
|Exchange Rate||1.84||-0.91 %||Feb 16|
|Stock Market||594||0.10 %||Feb 16|
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December 12, 2016
Bulgarian consumer prices were flat in November compared to the previous month, contrasting the 0.2% increase registered in October.
December 6, 2016
Bulgaria’s economy lost some momentum in the third quarter of 2016, mirroring the slowdown seen throughout Central and Eastern Europe.
November 11, 2016
In September, industrial production in Bulgaria grew 3.3% from the same month last year in working-day adjusted terms, accelerating from August’s 2.6% increase.
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.