GDP in Bulgaria
Bulgaria - GDP
Economic growth ticks up in the final stretch of 2018
According to comprehensive data released by the Statistical Institute on 7 March, the economy grew 3.2% in annual and seasonally-adjusted terms in the final quarter of 2018, a notch above both the preliminary estimate and the third quarter’s reading (Q3: +3.1% year-on-year s.a.). Meanwhile, full-year growth came in at 3.1%, decelerating from the 3.8% upturn logged in 2017.
Domestic demand lost traction in the fourth quarter. Total consumption moderated (Q4: +5.0% yoy s.a.; Q3: +6.9% yoy s.a.), largely due to a marked deceleration in household spending amid cooling wage growth and deteriorating sentiment among consumers. Similarly, fixed investment shifted into a lower gear, rising 6.6% year-on-year (Q3: +7.0% yoy s.a.).
External sector metrics improved, however, and propped up the overall expansion. Exports of goods and services rebounded after contracting for two consecutive quarters (Q4: +1.4% yoy s.a.; Q3: -3.6% yoy s.a.), demonstrating resilience amid a more challenging global trade backdrop. Meanwhile, imports of goods and services grew 1.6% year-on-year (Q3: +4.0% yoy s.a.), with the deceleration partly reflecting softer demand dynamics at home.
On a quarter-on-quarter basis, growth in seasonally-adjusted terms inched up to 0.8% in the fourth quarter from the 0.7% outturn in the previous quarter.
Bulgaria GDP Forecast
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 | 0.85 | 0.0 % | Jan 30 |
| Exchange Rate | 1.71 | -0.72 % | Jan 30 |
| Stock Market | 575 | -0.35 % | Jan 30 |
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Economic News
Bulgaria: Inflation climbs to five-month high in March
April 15, 2019
Consumer prices rose 0.1% from the previous month in March, following February’s 0.5% increase.
Bulgaria: Industrial output growth quickens to near two-year high in February
April 9, 2019
Industrial output jumped 6.6% in working day-adjusted annual terms in February, following the 2.6% rise logged in January and marking the strongest expansion since May 2017.
Bulgaria: Inflation edges up in February
March 13, 2019
Consumer prices rose 0.5% from the previous month in February, following January’s 0.6% increase.
Bulgaria: Industrial output rebounds in January
March 8, 2019
Industrial output rose 2.8% in working day-adjusted annual terms in January, contrasting the 2.9% year-on-year decline logged in December, which had marked the sharpest contraction in five and a half years.
Bulgaria: Economic growth ticks up in the final stretch of 2018
March 7, 2019
According to comprehensive data released by the Statistical Institute on 7 March, the economy grew 3.2% in annual and seasonally-adjusted terms in the final quarter of 2018, a notch above both the preliminary estimate and the third quarter’s reading (Q3: +3.1% year-on-year s.a.).
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