site.btaBulgaria’s GDP Growth Slows to 2.9% Y/Y in Q4 of 2025

In the fourth quarter of 2025, Bulgaria’s gross domestic product (GDP) increased by 2.9% compared with the fourth quarter of the previous year and by 0.8% compared with the third quarter of 2025, according to seasonally adjusted data released by the National Statistical Institute (NSI) on Friday.

NSI data show that in the same period of 2024, GDP grew by 3.1% year-on-year and by 0.8% compared with the third quarter of 2024. At the beginning of 2025, NSI reported GDP growth of 3.1% year-on-year and 0.6% quarter-on-quarter.

Annual changes

In the fourth quarter of 2025, gross value added increased by 2.0% year-on-year.

Final consumption rose by 7.2%, while gross fixed capital formation grew by 10.1%. Exports of goods and services declined by 0.1%, while imports increased by 9.5%.

Quarterly changes

In the fourth quarter of 2025, gross value added rose by 0.4% compared with the previous quarter.

According to flash GDP estimates by expenditure components, the registered quarter-on-quarter economic growth was driven by a 2.1% increase in gross fixed capital formation and a 1.3% rise in final consumption, based on seasonally adjusted data.

GDP at current prices

In the fourth quarter of 2025, GDP at current prices amounted to BGN 65.352 billion (EUR 33.4 billion). The generated gross value added totalled BGN 56.589 billion (EUR 28.9 billion).

By expenditure components, final consumption accounted for the largest share of GDP (81.4%). Gross capital formation represented 24.7% of GDP. The foreign trade balance was negative.