Bulgaria Q4 GDP Revised Slightly Higher

The Bulgarian economy grew by 3% year-on-year in the fourth quarter of 2025, slightly revising upward from 2.9% growth in preliminary estimates, albeit marginally easing from a revised 3.1% expansion in the previous quarter. This marked the weakest pace of growth since the third quarter of 2024, despite final consumption rising (7.8% vs 7.4% in Q3), driven by both household consumption (8.7% vs 8.2%) and government spending (3% vs 0.9%). In addition, gross fixed capital increased to 12.4% in Q4 2025 from 10.3% in the previous quarter. On net external demand, exports of goods and services rebounded to 0.2% from a 4.3% fall, while imports jumped to 11.1% from 4%. On a quarterly basis, the economy expanded 0.8% in Q4, in line with preliminary estimates and edging up from 0.7% in Q3. For 2025 as a whole, the Bulgarian economy grew 3.1%.

The Bulgarian economy grew by 2.9% year-on-year in the fourth quarter of 2025, slowing from a downwardly revised 3.1% in the previous period, according to preliminary estimates. This marked the weakest pace of growth since the third quarter of 2024, as net external demand continued to weigh on overall economic performance. Exports of goods and services remained in contraction, though at a much softer pace (-0.1% vs -5.4% in Q3), while imports accelerated sharply (9.5% vs 4.2%). At the same time, growth in final consumption eased to 7.2% from 7.9% in the previous quarter. Meanwhile, gross fixed capital formation picked up further, rising to 10.1% from 9.3%. On a quarterly basis, the economy expanded by 0.8% in Q4, edging up from 0.7% in the third quarter.

The Bulgarian economy grew by 3.2% year-on-year in the third quarter of 2025, matching preliminary estimates but slowing from the 3.4% expansion recorded in the previous three-month period. This marked the slowest pace of growth since the fourth quarter of 2024, reflecting a moderation in final consumption (7.9% vs 8.5% in Q2) amid a sharp slowdown in government spending (2% vs 10.1%), even as household consumption accelerated (9% vs 8.3%). Net external demand also weighed on GDP, as exports of goods and services declined at a faster pace (-5.6% vs -5.4%), while imports of goods and services rose significantly (4.1% vs 0.4%). Meanwhile, gross fixed capital formation edged higher (8.7% vs 8.6%). On a quarterly basis, the economy expanded 0.7% in Q3 2025, confirming preliminary estimates but slightly easing from the 0.9% increase registered in the previous quarter.