Labor productivity increases by 0.7%
GDP
In the third quarter of 2025, the Gross Domestic Product (GDP) grew by 3.2% compared to the third quarter of 2024 and there was an increase of 0.7% compared to the second quarter of 2025 at the seasonally adjusted data.
Third quarter of 2025
GDP, current prices
According to the preliminary data, GDP at current prices for the third quarter of 2025 is 62 659.3 million BGN. The GDP per person is 9 755 BGN. At an average for the quarter exchange rate of 1.674801 BGN for 1 USD, the GDP is 37 413 million USD, or 5 824 USD per person. In Euro terms, GDP reached 32 037 million EUR in total and 4 987 EUR per person.
The Gross Value Added (GVA) generated by the national economy during the third quarter of 2025 amounted to 54 803.1 million BGN at current prices.
In the third quarter of 2025, the relative share of the economic sector of Agriculture in GVA was 4.7%, which indicates an increase of 0.3 percentage points compared to the third quarter of 2024.
The Industry sector increased its relative share in GVA of the national economy by 1.6 percentage points - to 26.5%.
The relative share of the value added of the activities in the Services sector is 68.8%, decreasing in the third quarter of 2025 by 1.9 percentage points compared to the third quarter of 2024.
In the third quarter of 2025, 75.6% of the GDP was used for final consumption expenditures. Investments (gross fixed capital formation) formed 20.6% of GDP. The external balance of goods and services was positive.
GDP and GVA growth rates from seasonally adjusted data
Growth rates on a quarterly basis
According to the preliminary and seasonally adjusted data, in the third quarter of 2025, GDP increased by 0.7% compared to the previous quarter. For the same period, GVA also increased by 0.7%.
According to the seasonally adjusted data for the third quarter of 2025, the final consumption increased by 1.5% and gross fixed capital formation increased by 1.9% compared to the previous quarter. Exports of goods and services decreased by 1.3% and the imports of goods and services increased by 3.6% compared to the previous quarter, according to the seasonally adjusted data.
Growth rates on an annual basis
GDP increased by 3.2% and GVA increased by 2.8% in the third quarter of 2025 compared to the third quarter of 2024, according to the seasonally adjusted data.
The increase in Gross Value Added is determined by the growth in the following economic activities:
‘Real estate activities’ - by 6.7%, ‘Construction’ - by 6.2%, ‘Public administration and defense; compulsory social security; education; human health and social work activities’ - by 5.9%, ‘Information and communication’ - by 4.1%, ‘Arts, entertainment and recreation, repair of household goods and other services’ - by 4.0%, ‘Financial and insurance activities’ - by 3.5%, ‘Agriculture, forestry and fishing’ - by 3.2%, ‘Professional, scientific and technical activities; administrative and support service activities’ - by 2.8%, ‘Wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and storage; accommodation and food service activities’ - by 2.5%.
A decline was registered in ‘Mining and quarrying; manufacturing; electricity, gas, steam and air conditioning supply; water supply, waste management and remediation activities’ - by 1.7%.
Regarding the expenditure components of GDP, the main contributor to the registered positive economic growth was the gross capital formation - an increase of 10.9%, and the final consumption - an increase of 7.9%. During the third quarter of 2025, a decrease was recorded in the exports of goods and services - by 5.6%, while the imports of goods and services increased by 4.1% compared to the same quarter of the previous year.
Labour productivity
According to the preliminary data, the Gross domestic product (GDP) per person employed increased in real terms by 0.7% in the third quarter of 2025 compared to the same quarter of the previous year.
The number of persons employed in the economy was 3 726.5 thousand and the total number of hours worked was 1 467.5 million. Compared with the same quarter of the previous year the structure of employment by economic sectors in the third quarter of 2025 showed an increase in the relative share of the Service sector and a decrease in the Agriculture and Industrial sectors.
The GDP per person employed was 16 814.6 BGN and the GDP per hour worked was 42.7 BGN.
Gross value added (GVA) per person employed in the third quarter of 2025 increased by 1.6% compared to the third quarter of 2024. GVA per hour worked increased in real terms by 1.7%.
The GVA per person employed in the Service sector was 14 864.1 BGN and the GVA per hour worked was 37.9 BGN according to the preliminary data for the third quarter of 2025. In the Industrial sector, an average of 16 629.7 BGN GVA was produced by person employed or an average of 40.1 BGN GVA per hour worked. The lowest labour productivity was in the Agricultural sector - 4 959.8 BGN GVA per person employed and 13.6 BGN per hour worked.
