Industrial production in Bulgaria increased 2.8 percent year-on-year in March of 2019, slowing from an upwardly revised 6.9 percent rise in the previous month. Manufacturing output rose at a softer pace (5.5 percent vs 9.6 percent in February), namely electrical equipment (14 percent vs 23.6 percent); basic pharmaceutical products and pharmaceutical preparations (5.2 percent vs 8.3 percent) and repair and installation of machinery equipment (5.1 percent vs 24.7 percent). In addition, mining & quarrying production slowed (2.0 percent vs 16.0 percent) while electricity, gas, steam & air conditioning supply fell further (-7.6 percent vs -5.4 percent). On a seasonally adjusted monthly basis, industrial production dropped 0.9 percent, after an upwardly revised 1.6 percent gain in February. Industrial Production in Bulgaria averaged 3.24 percent from 2001 until 2019, reaching an all time high of 19.50 percent in May of 2004 and a record low of -22.60 percent in May of 2009.
Industrial Production in Bulgaria is expected to be 0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Bulgaria to stand at 2.80 in 12 months time. In the long-term, the Bulgaria Industrial Production is projected to trend around 2.50 percent in 2020, according to our econometric models.