GDP in Bulgaria
Bulgaria - GDP
GDP records best reading in over 20 years in Q2
A second reading confirmed that GDP bounced back in the second quarter, expanding 9.9% and contrasting the 1.8% contraction recorded in the first quarter. Q2's reading marked the best result since Q4 2000, although it was boosted by a considerable base effect, with Q2 2020 having coincided with the sharpest contraction recorded in over 20 years. On a seasonally-adjusted quarter-on-quarter basis, economic growth moderated to 0.6% in Q2 from 2.5% in the previous quarter.
The upturn in annual terms reflected improvements in the domestic economy. Total consumption growth accelerated to 6.2% year-on-year in the second quarter (Q1: +2.5% yoy), while fixed investment growth came in at 4.0% in Q2, up from the 1.0% expansion logged in the previous quarter. However, government consumption growth fell to a five-year low, clocking in at 3.1% in Q2 (Q1: +6.7% yoy).
Externally, exports of goods and services rebounded in Q2, growing 20.4% (Q1: -5.9% yoy). In addition, growth in imports of goods and services accelerated to 28.4% in Q2 (Q1: +1.9% yoy), marking the highest reading since Q1 2004.
Looking ahead, GDP growth is expected to slow in Q3 and into Q4 as the favorable base effect gradually reduces. Moreover, the caretaker government recently extended the state of emergency until end-November, while spiking daily Covid-19 cases amid a sluggish vaccination campaign bode poorly for activity towards the end of 2021.
FocusEconomics panelists project the economy to expand 4.5% in 2021, which is up 0.2 percentage points from last month’s forecast, and 3.9% in 2022.
Bulgaria - GDP Data
|Economic Growth (GDP, annual variation in %)||4.0||3.8||3.5||3.1||3.4|
5 years of economic forecasts for more than 30 economic indicators.
Bulgaria GDP Chart
Source: National Statistical Insitute (NSI) and FocusEconomics calculations
|Bond Yield||0.40||0.0 %||Dec 31|
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September 15, 2021
Consumer prices rose 0.77% in August over the previous month, matching July's reading.
September 10, 2021
Industrial output rose 8.3% year-on-year in July, slowing from June’s 10.5% increase.
September 7, 2021
A second reading confirmed that GDP bounced back in the second quarter, expanding 9.9% and contrasting the 1.8% contraction recorded in the first quarter.
August 17, 2021
According to a flash estimate, GDP rebounded 9.6% year-on-year in the second quarter, contrasting the 1.7% contraction seen in the first quarter.
August 16, 2021
Consumer prices rose 0.77% over the previous month in July, contrasting June's 0.21% drop.