GDP in Bulgaria

Bulgaria GDP (EUR bn) | Economic News & Forecasts

Bulgaria - GDP (billions of Euros)

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.

Met the why particular 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 (EUR bn) Data

2013  2014  2015  2016  2017  
GDP (EUR bn)41.9  42.8  45.3  48.1  50.4  

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Bulgaria Facts

ValueChangeDate
Bond Yield0.580.0 %Jun 14
Exchange Rate1.74-0.72 %Jun 14
Stock Market578-0.35 %Jun 14

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