The Bulgarian economy advanced by 3.3% year-on-year in the third quarter of 2022, compared to initial estimates of 3.2%, following a 4.6% expansion in the previous three-month period. This marks the slowest growth since the first quarter of 2021 when the economy contracted, partly due to the spillover effects of the war in Ukraine. Both household consumption (3.3% vs 3.9% in Q2) and government spending (7.7% vs 10.3%) slowed, while fixed investment continued to decrease (-6.1% vs -9.5%). Meanwhile, net external demand contributed positively to growth, as exports (11.1% vs 8.5% in Q2) rose faster than imports (9.3% vs 12.4% in Q2). On a quarterly basis, Bulgaria’s GDP rose 0.6%, in line with the preliminary estimate, slowing from an upwardly revised 0.8% growth in the second quarter. source: National Statistical Institute, Bulgaria
GDP Annual Growth Rate in Bulgaria averaged 2.51 percent from 1996 until 2022, reaching an all time high of 23.67 percent in the first quarter of 1996 and a record low of -17.20 percent in the first quarter of 1997. This page provides - Bulgaria GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Bulgaria GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2023.
GDP Annual Growth Rate in Bulgaria is expected to be 0.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Bulgaria GDP Annual Growth Rate is projected to trend around 2.50 percent in 2024 and 2.70 percent in 2025, according to our econometric models.