GDP in Bulgaria
Bulgaria - GDP
Economic growth slows in the third quarter
A second reading confirmed that the economy lost momentum in the third quarter, expanding 4.6% and slowing from the 7.1% increase recorded in the second quarter. On a seasonally-adjusted quarter-on-quarter basis, economic growth moderated to 0.6% in Q3 from 0.8% in the previous quarter.
The slowdown in annual terms reflected slower growth in the domestic economy, partially attributable to a less favorable base effect compared to Q2. Total consumption growth eased to 6.8% year-on-year in the third quarter (Q2: +8.2% yoy), while fixed investment contracted at a sharper rate in Q3, shrinking 9.7% (Q2: -6.1% yoy). However, government consumption growth rose to 6.3% in Q3 from 1.4% in Q2.
Externally, growth in exports of goods and services slowed to 9.8% in Q3 after Q2’s 21.1% surge. In addition, growth in imports of goods and services eased to 12.7% in Q3 (Q2: +22.0% yoy).
Looking ahead, GDP growth is expected to slow further in Q4 as the favorable base effect gradually reduces. Moreover, the extension of the state of emergency amid surging daily Covid-19 cases in October–November will likely have weighed on activity in the final quarter of 2021.
FocusEconomics panelists project the economy to expand 3.8% in 2022, which is unchanged from last month’s forecast, and 3.7% in 2023.
Bulgaria - GDP Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, annual variation in %) | 4.0 | 3.8 | 3.5 | 3.1 | 3.4 |
Bulgaria GDP Chart
Source: National Statistical Insitute (NSI) and FocusEconomics calculations
Bulgaria Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.40 | 0.0 % | Dec 31 |
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Economic News
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Bulgaria: Inflation comes in at highest level since December 2008 in November
December 15, 2021
Consumer prices increased 1.36% in November over the previous month, moderating from the 1.82% rise recorded in October.
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Bulgaria: Industrial output growth remains broadly stable in October
December 10, 2021
Industrial output grew 9.7% in year-on-year terms in October, which followed September's 9.7% increase.
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Bulgaria: Economic growth slows in the third quarter
December 7, 2021
A second reading confirmed that the economy lost momentum in the third quarter, expanding 4.6% and slowing from the 7.1% increase recorded in the second quarter.
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Bulgaria: Inflation comes in at highest level since January 2009 in October
November 15, 2021
Consumer prices increased 1.82% in October over the previous month, accelerating from the 0.40% rise recorded in September.
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Bulgaria: Industrial output growth remains broadly unchanged in September
November 10, 2021
Industrial output rose 10.5% compared to the same month of the previous year in September, which was a marginal deterioration from August's 10.6% increase.
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