Economy enters 2025 on weak footing: A second release confirmed that GDP was flat compared to a year ago in...
Economic Growth in Bulgaria
In the year 2024, the economic growth in Bulgaria was 2.81%, compared to 0.95% in 2014 and 1.89% in 2023. It averaged 2.71% over the last decade. For more GDP information, visit our dedicated page.
Bulgaria GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Bulgaria from 2024 to 2023.
Source: Macrobond.
Bulgaria GDP Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, ann. var. %) | 3.8 | -3.2 | 7.8 | 4.0 | 1.9 |
| GDP (USD bn) | 68.6 | 70.6 | 84.4 | 90.5 | 102.4 |
| GDP (EUR bn) | 61.3 | 61.9 | 71.4 | 86.1 | 94.7 |
| GDP (BGN bn) | 120 | 121 | 140 | 168 | 185 |
| Economic Growth (Nominal GDP, ann. var. %) | 9.2 | 1.0 | 15.3 | 20.6 | 10.0 |
GDP growth edges down in the first quarter
Economy loses steam, but still expands robustly: Preliminary data revealed that GDP growth waned to 3.1% year on year in the first quarter of 2025 (Q4 2024: +3.4% yoy). Still, growth remained robust, coming in above the post-pandemic average. On a seasonally adjusted quarter-on-quarter basis, economic growth slowed to 0.6% in Q1, compared to the previous period's 0.9%, marking the worst reading since Q4 2023.
Fall in exports drives deceleration: The annual GDP growth deceleration was caused by a deterioration in the external sector. Exports of goods and services fell 3.4% in Q1 (Q4: -1.7% yoy), while imports of goods and services rose at a faster rate of 6.2% in Q1 (Q4: +2.2% yoy). Contrarily, final consumption growth strengthened from 5.8% in Q4 to 7.1% in Q1, and fixed investment expanded by 6.1% (Q4: +0.8% yoy).
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Bulgarian GDP projections for the next ten years from a panel of 22 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Bulgarian GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Bulgarian GDP projections.
Want to get access to the full dataset of Bulgarian GDP forecasts? Send an email to info@focus-economics.com.
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