site.btaEurostat: Bulgaria Ranks Fourth in EU for Annual GDP Growth

Bulgaria ranks fourth in the EU for annual GDP growth, according to statistics published on the Eurostat website on Thursday. The European Union’s GDP grew by 1% on an annual basis in the Q3 of 2024 compared to the same period in 2023

For the eurozone, GDP growth reached 0.9% y-on-y, according to the latest preliminary and seasonally adjusted data.

Quarterly growth in the EU stood at 0.3%, while in the eurozone, GDP increased by 0.4% over the same period.

In comparison, the United States' GDP grew by 2.7% on an annual basis in Q3 of 2024. Quarter-on-quarter, it saw an increase of 0.7%, Eurostat data showed.

Among EU member states with available data, Bulgaria ranked fourth for GDP growth, reporting a 2.2% annual increase for Q3. Preliminary seasonally adjusted data indicated that Cyprus led the EU with an annual GDP growth rate of 3.8%, followed by Spain at 3.4% and Lithuania at 2.3%.

Eight EU countries reported negative annual GDP growth for the Q3. Latvia experienced the steepest decline, with a 1.4%, followed by Estonia and Hungary, each with a decline of 0.7%.

Germany, the European Union's largest economy, saw an annual GDP contraction of 0.2% in Q3 of 2024.