Bulgaria Industrial production April 2021


Bulgaria: Industrial output expands at fastest pace on record in April, driven by a low base effect

June 10, 2021

Industrial output rose 22.8% in year-on-year terms in April, which followed March's 7.2% increase. April's print marked the strongest expansion on record; however, it was flattered by a low base effect. The improvement was partly driven by faster growth in manufacturing output. In addition, mining output picked up pace. Meanwhile, the trend improved sizably, with the annual average variation of industrial production coming in at an over one-year high of minus 2.1%, up from March's minus 5.3% reading.

On a monthly basis, factory output increased 0.2% in seasonally-adjusted terms in April, which was well below March’s 4.8% expansion.

FocusEconomics Consensus Forecast panelists see industrial production growing 4.0% in 2021, which is unchanged from last month’s forecast. In 2022, panelists see industrial production growing 3.7%.

Author:, Economist

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Bulgaria Industrial production Chart

Bulgaria Industry April 2021

Note: Year-on-year and annual average variation of working-day adjusted industrial production index in %.
Source: National Statistical Institute (NSI).

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