Bulgaria’s economy advanced 3.5 percent year-on-year in the second quarter of 2019, the same as in the previous period and higher than a preliminary estimates of 3.3 percent. Both household (2.8 percent vs 4.9 percent in Q1) and government consumption (3.7 percent vs 5.2 percent) slowed while gross fixed capital formation advanced at a softer pace (2.2 percent vs 2.5 percent). Regarding net trade, exports rose 3.7 percent (from 5.1 percent in Q1) while imports declined 2.0 percent (from 3.9 percent in Q1). On a quarterly basis, the GDP grew 0.8 percent compared to a 1.2 percent in the first quarter of 2019. GDP Annual Growth Rate in Bulgaria averaged 3.03 percent from 1996 until 2019, 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 3.30 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 3.50 in 12 months time. In the long-term, the Bulgaria GDP Annual Growth Rate is projected to trend around 3.20 percent in 2020, according to our econometric models.