The Bulgarian economy advanced by 2% year-on-year in the first quarter of 2023, following a downwardly revised 2.1% expansion in the previous three-month period and marking the slowest pace in the current growth sequence, preliminary estimates showed. Gross fixed capital formation contributed positively, accelerating to 5.2% in Q1 this year compared to 2.1% in Q4 2022. Meanwhile, final consumption (2.8% vs 5.4% in Q4 2022) and exports (3.0% vs 8.9%) slowed, and imports decreased (-4.3% vs 8.7%). Quarterly, Bulgaria’s GDP rose 0.4%, easing from a 0.6% growth in the prior three months. source: National Statistical Institute, Bulgaria

GDP Annual Growth Rate in Bulgaria averaged 2.50 percent from 1996 until 2023, 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 May of 2023.

GDP Annual Growth Rate in Bulgaria is expected to be 0.30 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.

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Bulgaria GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-03-08 09:00 AM YoY Final Q4 2.3% 3.2% 2.1% 2.1%
2023-05-16 08:00 AM YoY Prel Q1 2% 2.1% 0.7%
2023-06-08 08:00 AM YoY Final Q1 2.1% 2.0%


Related Last Previous Unit Reference
GDP Growth Rate 0.40 0.60 percent Mar 2023
GDP Annual Growth Rate 2.00 2.10 percent Mar 2023
GDP Constant Prices 30623.02 30079.88 BGN Million Dec 2022
Gross Fixed Capital Formation 5806.16 4322.99 BGN Million Dec 2022
Full Year GDP Growth 3.40 7.60 percent Dec 2022
GDP from Services 10676.25 8703.78 BGN Million Dec 2022
GDP from Public Administration 6352.36 5276.60 BGN Million Dec 2022
GDP from Manufacturing 9005.86 9701.08 BGN Million Dec 2022
GDP from Construction 1623.74 1358.59 BGN Million Dec 2022
GDP from Agriculture 1388.07 3853.85 BGN Million Dec 2022

Bulgaria GDP Annual Growth Rate
In Bulgaria, household consumption is the main component of GDP and accounts for 63 percent of its total use, followed by gross fixed capital formation (21 percent) and government expenditure (17 percent). Exports of goods and services account for 65 percent of GDP while imports account for 66 percent, subtracting 1 percent of total GDP.
Actual Previous Highest Lowest Dates Unit Frequency
2.00 2.10 23.67 -17.20 1996 - 2023 percent Quarterly
SA, WDA

News Stream
Bulgaria GDP Expands at Slowest Pace
The Bulgarian economy advanced by 2% year-on-year in the first quarter of 2023, following a downwardly revised 2.1% expansion in the previous three-month period and marking the slowest pace in the current growth sequence, preliminary estimates showed. Gross fixed capital formation contributed positively, accelerating to 5.2% in Q1 this year compared to 2.1% in Q4 2022. Meanwhile, final consumption (2.8% vs 5.4% in Q4 2022) and exports (3.0% vs 8.9%) slowed, and imports decreased (-4.3% vs 8.7%). Quarterly, Bulgaria’s GDP rose 0.4%, easing from a 0.6% growth in the prior three months.
2023-05-16
Bulgaria Q3 GDP Growth at Over 1-1/2-Year Low
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.
2022-12-07
Bulgaria GDP Growth Rate Slows in Q3
The Bulgarian economy advanced by 3.2 percent year-on-year in the third quarter of 2022, following an upwardly revised 4.6 percent expansion in the previous quarter, flash estimates showed. It is the lowest growth since the contraction last year, as final consumption slowed 3%, after a 4.9% rise in the previous period while gross fixed capital formation declined 8.4%, less than a 10.5% fall in the second quarter. At the same time, imports were up 5.3%, but exports increased at a faster 7.8%. Compared to the previous quarter, the economy expanded 0.6%, after a 0.7% growth in Q2.
2022-11-15