GDP in Bulgaria
Bulgaria - GDP
Economy loses steam in Q3 as exports plummet
According to a more comprehensive estimate released by the Statistical Institute, the economy grew 3.1% in seasonally-adjusted terms and on an annual basis in the third quarter, a notch above the preliminary estimate but below the second quarter’s reading (Q2: +3.4 year-on-year s.a.). Despite a well-anchored domestic economy, deteriorating external-sector metrics eroded gains.
Domestic demand remained in the driver’s seat, fueled by a pick-up in fixed investment which accelerated to 7.0% year-on-year from a revised 6.6% logged in the previous quarter (previously reported: +4.6% yoy s.a.). Additionally, total consumption grew steadily at 6.9% (Q2: +6.9% yoy s.a.; previously reported: +4.8 yoy s.a.) amid the tighter labor market.
The external sector weighed down economic growth, however. Exports contracted for a second straight quarter (Q3: -3.6% yoy s.a.; Q2: -1.9% yoy s.a.) against the backdrop of a broader European slowdown. Meanwhile, import growth decelerated to 4.0% from a revised 5.0% increase in the previous quarter (previously reported: +4.3% yoy s.a.).
On a quarter-on-quarter basis, growth in seasonally-adjusted terms came in at 0.7% in the third quarter, down from the 0.8% outturn a quarter earlier.
FocusEconomics Consensus Forecast panelists expect growth of 3.4% in 2019, which is down 0.1 percentage points from last month’s forecast. For 2020, panelists see growth at 2.9%.
Bulgaria - GDP Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, annual variation in %) | 0.9 | 1.3 | 3.6 | 3.9 | 3.6 |
Bulgaria GDP Chart
Source: National Statistical Insitute (NSI) and FocusEconomics calculations
Bulgaria Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.88 | 0.0 % | Feb 14 |
| Exchange Rate | 1.74 | -0.72 % | Feb 14 |
| Stock Market | 581 | -0.35 % | Feb 14 |
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Economic News
Bulgaria: Inflation bounces back from seven-month low in January
February 15, 2019
Consumer prices rose 0.5% from the previous month in January, following a flat reading in December.
Bulgaria: Industrial output falls sharply in December
February 8, 2019
Industrial output declined 3.8% in working day-adjusted annual terms in December, contrasting the 1.2% year-on-year expansion logged in November and marking the sharpest contraction in five-and-a-half years.
Bulgaria: Inflation dips to seven-month low in December
January 15, 2019
Consumer prices remained unchanged from the previous month in December, following a 0.1% month-on-month dip in November.
Bulgaria: Industrial output growth remains stable in November
January 10, 2019
Industrial output rose 1.2% in working day-adjusted annual terms in November, matching the revised 1.2% year-on-year expansion logged in October (previously reported: +1.6% year-on-year).
Bulgaria:
December 12, 2018
Consumer prices fell 0.1% from a month earlier in November, following a 0.7% month-on-month rise in October.
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