GDP in Bulgaria
Bulgaria - GDP
Economy gathers momentum at the start of 2019
According to comprehensive data released by the Bulgarian Statistical Institute on 6 June, the economy grew 3.5% in annual and seasonally-adjusted terms in the first quarter of the year, a notch above the preliminary estimate and picking up from the previous quarter’s upturn (Q4 2018: +3.2% year-on-year, seasonally-adjusted). Moreover, on a quarter-on-quarter basis, growth in seasonally-adjusted terms accelerated to 1.2% from 0.8% in Q4 2018.
Domestic demand lost stride in Q1. Total consumption cooled again (Q1: +4.5% yoy s.a.; Q4 2018: +5.0% yoy s.a.), mainly due to household spending losing pace amid higher unemployment and consumers turning more pessimistic. Similarly, fixed investment decelerated markedly, rising 2.5% year-on-year (Q4 2018: +6.6% yoy s.a.).
External sector metrics improved, however, and fueled the overall expansion. Exports of goods and services rose a strong 5.1% year-on-year despite a more challenging global trading environment (Q4 2018: +1.4% yoy s.a.). Likewise, import growth accelerated to 3.9% in Q1 (Q4 2018: +1.6% yoy s.a.).
Looking ahead, growth is expected to remain solid this year, primarily buttressed by domestic demand. A tight job market and higher wages are seen supporting private consumption, while the continued absorption of EU structural funds and cheap borrowing costs should prop up investment activity.
FocusEconomics Consensus Forecast panelists expect growth of 3.3% in 2019, which is unchanged 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 | 0.57 | 0.0 % | Jun 20 |
| Exchange Rate | 1.73 | -0.72 % | Jun 20 |
| Stock Market | 578 | -0.35 % | Jun 20 |
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Economic News
Bulgaria: Inflation edges down from six-month high in May
June 14, 2019
Consumer prices rose a soft 0.1% from the previous month in May, following April’s 0.5% increase.
Bulgaria: Industrial production decelerates in April
June 7, 2019
Industrial output rose 2.4% in working day-adjusted annual terms in April, following the 2.8% expansion logged in March.
Bulgaria: Economy gathers momentum at the start of 2019
June 6, 2019
According to comprehensive data released by the Bulgarian Statistical Institute on 6 June, the economy grew 3.5% in annual and seasonally-adjusted terms in the first quarter of the year, a notch above the preliminary estimate and picking up from the previous quarter’s upturn (Q4 2018: +3.2% year-on-year, seasonally-adjusted).
Bulgaria: Inflation inches up to six-month high in April
May 15, 2019
Consumer prices rose 0.5% from the previous month in April, following March’s 0.1% uptick.
Bulgaria: GDP growth accelerates in Q1 2019
May 15, 2019
A preliminary release by the Statistical Institute showed that the economy grew a seasonally-adjusted 3.4% on an annual basis in the first quarter of the year, accelerating slightly from the fourth quarter’s 3.2% upturn.
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