Bulgaria's GDP up by 1.8% in Q3 Y/Y

In the third quarter of 2023, Bulgaria's GDP grew by 1.8% from the third quarter of 2022 and by 0.4% from the second quarter of 2023, according to preliminary and seasonally adjusted data of the National Statistical Institute (NSI) published on 7 December.

In the third quarter of 2023, the GDP amounted to BGN 48.466 billion at current prices, according to preliminary data. The GDP was worth 47.733 billion in nominal terms.

The increase in Gross Value Added is determined by the growth in the following economic activities: 

  • Mining and quarrying; manufacturing; electricity, gas, steam and air conditioning supply; water supply, waste management and remediation activities (2.9%);
  • Wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and storage; accommodation and food service activities (2.1%);
  • Financial and insurance activities (1.7%);
  • Public administration and defence; compulsory social security; education; human health and social work activities (1.4%);
  • Information and communication (0.6%);
  • Construction (0.5%);
  • Professional, scientific and technical activities; administrative and support service activities (0.3%).

A decline is seen in Agriculture, forestry and fishing (by 5.7%), and in Arts, entertainment and recreation, repair of household goods and other services (by 1.8%).

Contributors to the registered economic growth are final consumption (with a growth of 4.3%) and gross fixed capital formation (with an increase of 9.6%).