Bulgaria's economy advanced 3.0 percent year-on-year in the third quarter of 2018, easing from a 3.4 percent growth in the previous quarter, the preliminary estimate showed. It was the weakest expansion since the last quarter of 2014, as output slowed for gross fixed investment (6.2 percent compared to 6.6 percent in Q2) and was unchanged at 6.9 percent for final consumption, the same as in the second quarter of 2018. In addition, exports fell further (-3.2 percent compared to -1.9 percent) and imports edged up to 5.1 percent, compared to 5.0 percent in the prior quarter. On a quarterly basis, the GDP grew 0.5 percent compared to a 0.8 percent in the second quarter of 2018. GDP Annual Growth Rate in Bulgaria averaged 2.97 percent from 1996 until 2018, reaching an all time high of 17.20 percent in the first quarter of 1998 and a record low of -14 percent in the third quarter of 1996.
GDP Annual Growth Rate in Bulgaria is expected to be 3.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Bulgaria to stand at 3.10 in 12 months time. In the long-term, the Bulgaria GDP Annual Growth Rate is projected to trend around 3.70 percent in 2020, according to our econometric models.