Bulgaria's gross domestic product advanced by 2.4 percent year-on-year in the first quarter of 2020, following a 3.1 percent growth in the previous quarter and matching an earlier estimate. It was the weakest pace of expansion since the third quarter of 2014, mainly attributable to the Covid-19 blow. Slower increases were seen in household consumption (3.7 percent vs 6.4 percent in Q4); government spending (4.1 percent vs 5.3 percent) and fixed investment (1.2 percent vs 3 percent). Meanwhile, net external demand contributed positively to growth as exports advanced 1.9 percent (vs -0.4 percent in Q4) while imports rose at a softer 1.2 percent (vs -0.2 percent). On a quarterly basis, the economy expanded 0.3 percent, the least since the first quarter of 2014, compared to a 0.8 percent growth in the preceding quarter.
GDP Annual Growth Rate in Bulgaria averaged 3.01 percent from 1996 until 2020, 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. 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 July of 2020. source: National Statistical Institute, Bulgaria
GDP Annual Growth Rate in Bulgaria is expected to be -9.20 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 15.00 in 12 months time. In the long-term, the Bulgaria GDP Annual Growth Rate is projected to trend around 4.20 percent in 2021 and 3.20 percent in 2022, according to our econometric models.