Bulgaria GDP Q1 2018

Bulgaria

Bulgaria: GDP growth stable at 3.5% year-on-year in Q1

May 25, 2018

A preliminary release by the Statistical Institute showed that the economy grew 3.5% on an annual basis in the first quarter, in line with growth in the fourth quarter of last year. Growth in the first quarter, which came in below FocusEconomics analysts’ expectations of a 3.8% expansion, was driven by stronger fixed investment and exports, while the external sector benefited from more moderate growth in imports.

A rudimentary breakdown showed that total consumption growth slowed markedly to 2.4% (Q4 2017: +3.8% year-on-year), while fixed investment jumped to 7.2% (Q4 2017: +4.5% yoy). Exports of goods and services sped up, growing 4.6% in the quarter (Q4 2017: +2.0% yoy), while growth in imports of goods and services eased to 6.8% (Q4 2017: +8.3% yoy).

On a quarter-on-quarter basis, growth ticked up to 0.8% from 0.7% in the fourth quarter last year.

More comprehensive data will be released on 7 June.

FocusEconomics Consensus Forecast participants expect growth of 3.7% in 2018, which is unchanged from last month’s forecast. In 2019, panelists see the economy growing 3.3%.


Author:, Economist

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Bulgaria GDP Q1 2018

Note: Year-on-year changes of GDP in %
Source: National Statistical Institute (NSI) and FocusEconomics Consensus Forecast


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