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Bulgaria Industry

Bulgaria Industry

Industrial Production in Bulgaria

Bulgaria's economy recorded an average growth rate of 2.8% in industrial production in the decade leading up to 2022. This is below the average of 3.2% for Eastern Europe. In 2022, industrial production growth in Bulgaria was 12.7%. For more industry information, visit our dedicated page.

Bulgaria Industry Chart

Note: This chart displays Industrial Production (annual variation in %) for Bulgaria from 2014 to 2023.
Source: National Statistical Institute, Bulgaria.

Bulgaria Industry Data

2018 2019 2020 2021 2022
Industrial Production (ann. var. %) 0.3 0.5 -5.9 9.8 12.7

Decline in industrial activity softens in December

Industrial output dropped 7.6% year on year in December, which was markedly softer than November's 12.2% decrease. Looking at the details of the release, manufacturing production decreased at a faster pace in December, while mining output declined at a softer, albeit still pronounced, pace. On a seasonally adjusted monthly basis, industrial production rebounded, rising 3.3% in December (November: -4.0% mom), the best result since March 2022. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 8.7% in December, down from November's minus 8.0%.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Bulgarian industry projections for the next ten years from a panel of 6 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Bulgarian industry.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Bulgarian industry projections.

Want to get access to the full dataset of Bulgarian industry forecasts? Send an email to info@focus-economics.com.

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