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Economy of Barbados vs Bulgaria compared: GDP & Debt

Updated on by Georank

Barbados has a GDP of $8.02B compared to $131B for Bulgaria, ranking 157/197 and 63/197 by economy size, respectively.

Barbados has $7.55B in government debt (94.2% of GDP), compared to $35.4B (27.1% of GDP) in Bulgaria.

Barbados vs Bulgaria GDP by year

Barbados
Bulgaria
1x
Year GDP, current $
Barbados Bulgaria
2025 $8,016,550,000 $130,777,235,530
2024 $7,597,571,450 $113,349,149,167
2023 $7,223,248,150 $102,204,457,335
2022 $6,886,644,900 $90,510,784,778
2021 $5,948,900,600 $84,378,926,047
2020 $5,403,246,950 $70,490,478,088
2019 $6,166,710,800 $68,511,235,459
2018 $6,001,101,550 $66,100,606,677
2017 $5,847,381,600 $59,170,671,046
2016 $5,679,029,450 $53,932,152,154
2015 $5,699,619,150 $50,768,512,173
2014 $5,684,901,000 $57,083,817,240
2013 $5,660,059,700 $55,822,115,861
2012 $5,486,500,500 $54,299,825,600
2011 $5,563,162,050 $57,684,243,980
2010 $5,428,683,250 $50,691,645,231
2009 $4,466,809,600 $52,026,461,290
2008 $4,790,410,400 $54,483,464,293
2007 $4,675,767,950 $44,433,521,725
2006 $4,217,323,400 $34,382,295,487
2005 $3,819,500,000 $29,870,182,425
2004 $3,444,500,000 $26,159,078,743
2003 $3,209,500,000 $21,146,038,619
2002 $3,106,500,000 $16,403,880,783
2001 $3,054,500,000 $14,184,170,319
2000 $3,059,500,000 $13,246,669,554
1999 $2,951,822,205 $13,637,793,854
1998 $2,817,083,478 $15,031,821,788
1997 $2,498,384,130 $11,316,706,412
1996 $2,363,645,403 $12,295,588,924
1995 $2,216,974,096 $18,992,388,645
1994 $2,151,344,901 $9,709,230,161
1993 $2,063,342,117 $10,832,041,595
1992 $1,957,000,000 $8,602,874,120
1991 $2,020,583,702 $7,628,764,750
1990 $2,012,131,457 $20,726,605,649
1989 $2,006,165,167 $21,746,286,447
1988 $1,812,757,918 $23,003,003,708
1987 $1,704,370,308 $28,428,718,531
1986 $1,547,755,183 $20,261,546,635
1985 $1,409,536,121 $17,562,270,447
1984 $1,346,890,071 $17,410,894,971
1983 $1,236,016,507 $16,959,180,922
1982 $1,163,923,830 $19,803,624,625
1981 $1,114,204,743 $20,055,685,481
1980 $1,012,280,615 $20,039,544,133
1979 $670,362,452 -
1978 $552,883,707 -
1977 $495,097,668 -
1976 $435,911,269 -
1975 $402,178,605 -
1974 $311,804,630 -
1973 $260,767,828 -
1972 $213,725,217 -
1971 $186,826,503 -
1970 $166,210,203 -
1969 $141,393,142 -
1968 $125,733,669 -
1967 $125,554,009 -
1966 $113,195,123 -
1965 $105,021,997 -
1964 $99,252,731 -
1963 $99,893,761 -
1962 $88,782,583 -
1961 $85,363,759 -
1960 $80,021,847 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/barbados/bulgaria | CC BY

GDP per capita in Barbados vs Bulgaria by year

Barbados
GDP per capita

GDP per capita, PPP
Bulgaria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Barbados Bulgaria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $28,365 - $20,328 -
2024 $26,897 $24,823 $17,597 $41,969
2023 $25,584 $23,660 $15,854 $38,829
2022 $24,393 $22,193 $14,000 $36,320
2021 $21,084 $17,683 $12,967 $30,959
2020 $19,181 $16,555 $10,761 $27,352
2019 $21,929 $19,971 $10,354 $26,766
2018 $21,378 $19,777 $9,850 $23,998
2017 $20,871 $18,437 $8,697 $22,317
2016 $20,311 $19,176 $7,823 $20,746
2015 $20,429 $19,186 $7,269 $18,896
2014 $20,424 $18,595 $8,070 $17,991
2013 $20,384 $19,032 $7,796 $16,894
2012 $19,811 $19,605 $7,432 $16,327
2011 $20,146 $20,316 $7,850 $15,747
2010 $19,723 $20,033 $6,854 $14,954
2009 $16,295 $20,324 $6,989 $14,188
2008 $17,566 $21,376 $7,272 $14,347
2007 $17,235 $20,949 $5,889 $12,822
2006 $15,620 $20,076 $4,523 $11,406
2005 $14,214 $18,450 $3,900 $10,291
2004 $12,886 $17,299 $3,390 $9,200
2003 $12,076 $16,707 $2,720 $8,416
2002 $11,760 $16,133 $2,093 $7,786
2001 $11,640 $15,866 $1,771 $6,960
2000 $11,675 $15,914 $1,621 $6,424
1999 $11,244 $14,873 $1,661 $5,808
1998 $10,734 $14,621 $1,821 $6,178
1997 $9,522 $13,941 $1,361 $5,751
1996 $9,012 $13,090 $1,470 $6,849
1995 $8,460 $12,375 $2,259 $7,743
1994 $8,223 $11,900 $1,150 $7,338
1993 $7,905 $11,448 $1,279 $7,032
1992 $7,519 $11,127 $1,007 $6,917
1991 $7,790 $11,576 $884 $7,215
1990 $7,781 $11,687 $2,377 $7,548
1989 $7,773 - $2,450 -
1988 $7,033 - $2,561 -
1987 $6,625 - $3,169 -
1986 $6,031 - $2,262 -
1985 $5,510 - $1,960 -
1984 $5,284 - $1,943 -
1983 $4,866 - $1,897 -
1982 $4,599 - $2,221 -
1981 $4,417 - $2,256 -
1980 $4,025 - $2,261 -
1979 $2,668 - - -
1978 $2,198 - - -
1977 $1,968 - - -
1976 $1,734 - - -
1975 $1,601 - - -
1974 $1,243 - - -
1973 $1,042 - - -
1972 $856 - - -
1971 $750 - - -
1970 $666 - - -
1969 $567 - - -
1968 $506 - - -
1967 $508 - - -
1966 $462 - - -
1965 $433 - - -
1964 $414 - - -
1963 $421 - - -
1962 $377 - - -
1961 $366 - - -
1960 $347 - - -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/barbados/bulgaria | CC BY

Barbados' GDP per capita is $28,365, ranking 48/197, compared to $20,328 in Bulgaria, ranking 58/197. Adjusted for purchasing power (GDP per capita PPP), Barbados ranks 84th at $24,823, while Bulgaria ranks 54th at $41,969.

Economic indicators

Barbados Bulgaria
Gross domestic product
$8.02B
2025
$131B
2025
GDP rank
157/197
2025
63/197
2025
GDP growth
2.7%
2024-2025
3.1%
2024-2025
GDP per capita
$28,365
2025
$20,328
2025
GDP per capita rank
48/197
2025
58/197
2025
GDP per capita, PPP
$24,823
2024
$41,969
2024
GDP per capita PPP rank
84/197
2024
54/197
2024
Government debt
$7.55B
2025
$35.4B
2025
Debt-to-GDP ratio
94.2%
2025
27.1%
2025
Government debt per person
$26,731
2025
$5,507
2025
Government debt per person rank
28/185
2025
79/185
2025
Average annual personal income after taxes
$19,127
2026
$16,126
2026
Market capitalization of domestic companies
$2.78B
2020
$11.2B
2025
Number of billionaires
1
2026
2
2026
Income share by richest 10%
25.8%
2016
31.1%
2023
Income share by poorest 10%
2.5%
2016
2.1%
2023
Government expenditure, % of GDP
27%
2025
38.9%
2025
Consumer prices inflation
0.85%
2024-2025
3.5%
2024-2025
Central bank interest rate
2%
2020
1.81%
2025
Unemployment rate
6.03%
2024
3.5%
2025
Population
282789
6390149

Spending and national debt comparison by year

Barbados
Spending

Debt
Bulgaria
Spending

Debt
1x
Year % of GDP
Barbados Bulgaria
Government spending Government debt Government spending Government debt
2025 27% 94.2% 38.9% 27.1%
2024 28.1% 98.9% 36.3% 23.8%
2023 26.5% 104.1% 37.5% 22.9%
2022 26.9% 104% 37.6% 22.5%
2021 27.1% 108.6% 38.5% 23.9%
2020 30.6% 129.6% 37.7% 22.7%
2019 22.2% 101.6% 36.1% 18.4%
2018 25% 107.2% 34.4% 20.1%
2017 28% 134.6% 32% 22.9%
2016 28.6% 127.1% 32.7% 27%
2015 29.2% 122.5% 37.3% 25.4%
2014 27.4% 115.1% 37.1% 26.3%
2013 29.1% 111.7% 35.5% 17.2%
2012 28.9% 103.5% 32.5% 16.5%
2011 26.5% 94.4% 32% 14.3%
2010 28% 90.3% 34.6% 14.1%
2009 27.8% 83.5% 33.8% 14.5%
2008 27.1% 69.8% 33.5% 14.7%
2007 26.1% 64.9% 33.1% 17.6%
2006 25% 64.1% 32.5% 22.6%
2005 26.4% 62.7% 34% 28.5%
2004 26.2% 61% 34.6% 37.8%
2003 27.7% 61.8% 35.8% 45.4%
2002 29.1% 62% 35.1% 53.4%
2001 20.7% 59% 36.5% 67.1%
2000 19.7% 53.6% 37.1% 73.3%
1999 18.5% 47% 36.2% 78.7%
1998 17.8% 47.2% 30.6% 67.3%
1997 19.6% 52% 32.9% 88.4%
1996 19.1% 52.3% 44% 113.8%
1995 17.3% 52% 45.4% 72%
1994 15.9% 51.4% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1994–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1995–1997, retrieved 2026-07-08).

GeoRank.org/economy/barbados/bulgaria | CC BY

In 2025, Barbados' government spending was $2.16B, accounting for 27% of its GDP, while Bulgaria spent $50.8B, or 38.9% of GDP.

Debt-to-GDP ratio is 94.2% in Barbados and 27.1% in Bulgaria, ranking 28/185 and 164/185, respectively.

Government deficit by year

Deficit/surplus
Barbados

Bulgaria
1x
Year Deficit/surplus, % of GDP
Barbados Bulgaria
2025 -0.31% -3.01%
2024 -0.84% -3.01%
2023 -1.57% -3.04%
2022 -1.74% -0.8%
2021 -3.88% -2.8%
2020 -4.19% -2.92%
2019 2.86% -0.96%
2018 -0.32% 0.12%
2017 -3.64% 0.82%
2016 -4.55% 1.54%
2015 -7.58% -2.77%
2014 -6.2% -3.65%
2013 -8.46% -1.75%
2012 -6.69% -0.43%
2011 -3.47% -1.83%
2010 -7.1% -3.77%
2009 -6.19% -0.86%
2008 -3.94% 2.73%
2007 -4.08% 3.09%
2006 -3.13% 3.22%
2005 -2.78% 2.19%
2004 -2.73% 1.59%
2003 -2.86% 0.003%
2002 -4.96% -0.61%
2001 3.83% -0.58%
2000 4.68% -0.6%
1999 5.06% 0.15%
1998 5.63% 1.08%
1997 5.15% 0.83%
1996 3.5% -10.1%
1995 5.79% -7.98%
1994 6.28% -
1993 - -
1992 - -
1991 - -
1990 - -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -
1980 - -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - 0%
1943 - 0%
1942 - -0.3%
1941 - 3.96%
1940 - 0.75%
1939 - 0.72%
1938 - 1%
1937 - 1.41%
1936 - 1.17%
1935 - 1.34%
1934 - -0.12%
1933 - -0.56%
1932 - -2.14%
1931 - -3.07%
1930 - -5.48%
1929 - -6.67%
1928 - -1.09%
1927 - -0.02%
1926 - -0.25%
1925 - -0.97%
1924 - 1.26%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1994–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1924–1997, retrieved 2026-07-08).

GeoRank.org/economy/barbados/bulgaria | CC BY

In 2025, Barbados' government deficit, the difference between spending and revenue, was $24.8M, equivalent to 0.31% of GDP. This compares to Bulgaria's deficit of $3.94B, or 3.01% of GDP.

Over the past 31 years, Barbados recorded a fiscal deficit in 23 of those years, while Bulgaria ran a deficit in 19 years. On average, Barbados posted an annual deficit equal to 1.76% of GDP, compared to deficit of 1.1% of GDP for Bulgaria.

Inflation comparison by year

Inflation
Barbados

Bulgaria
1x
Year Consumer prices inflation
Barbados Bulgaria
2025 0.85% 3.5%
2024 1.45% 2.6%
2023 3.19% 8.6%
2022 - 13%
2021 - 2.8%
2020 - 1.2%
2019 1.68% 2.5%
2018 3.11% 2.6%
2017 4.66% 1.2%
2016 1.28% -1.3%
2015 -1.11% -1.1%
2014 1.77% -1.6%
2013 1.81% 0.4%
2012 4.53% 2.4%
2011 9.43% 3.4%
2010 5.82% 3%
2009 3.64% 2.5%
2008 8.11% 12%
2007 4.03% 7.6%
2006 7.31% 7.4%
2005 6.08% 6%
2004 1.39% 6.1%
2003 1.62% 2.3%
2002 0.13% 5.8%
2001 2.58% 7.4%
2000 2.44% 10.3%
1999 1.56% 2.6%
1998 -1.27% 18.7%
1997 7.71% 1,061%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/barbados/bulgaria | CC BY

Over the past 29 years, Barbados has recorded an average annual inflation rate of 3.22%, compared with 41.1% in Bulgaria. In 2025, inflation was 0.85% in Barbados and 3.5% in Bulgaria.

Top exports between countries

Barbados
Export category Export value
Machinery & equipment $34K
Precious metals & jewellery $1K
Processed food, beverages & tobacco $1K
Bulgaria
Export category Export value
Miscellaneous $172K
Processed food, beverages & tobacco $165K
Chemicals & pharma $32K
Metals $28K
Textiles & consumer goods $25K
Raw agricultural goods $17K
Machinery & equipment $12K
Raw materials & minerals $1K

Balance of trade

Barbados Bulgaria
Current account balance
-$296M
2017
-$7.64B
2025
Current account balance ranking
96/190
2017
170/190
2025
Current account balance, % of GDP
-5.07%
2017
-5.84%
2025
Goods imports
$1.53B
2017
$58.5B
2025
Goods exports
$705M
2017
$47.9B
2025
Service imports
$687M
2017
$9.42B
2025
Service exports
$1.52B
2017
$18.6B
2025
Imports of goods and services, % of GDP n/a
51.8%
2025
Exports of goods and services, % of GDP
14.5%
2026
50.7%
2025

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Barbados Bulgaria
Economic freedom 70.4 68.9
Economic freedom ranking 34/197 44/197
Property rights 76.4 75.8
Government integrity 71.3 48.4
Judicial effectiveness 87.3 58.5
Tax burden 83.2 89.1
Government spending 74.5 58.4
Fiscal health 76.5 90.4
Business freedom 72.3 78.2
Labor freedom 54.3 62.4
Monetary freedom 80.8 75.8
Trade freedom 48.2 79.4
Investment freedom 60 60
Financial freedom 60 50

Economic freedom comparison by year

Barbados
Bulgaria
1x
Year Economic freedom index
Barbados Bulgaria
2026 70.4 68.9
2025 68.9 68.8
2024 66.8 68.5
2023 69.8 69.3
2022 71.3 71
2021 65 70.4
2020 61.4 70.2
2019 64.7 69
2018 57 68.3
2017 54.5 67.9
2016 68.3 65.9
2015 67.9 66.8
2014 68.3 65.7
2013 69.3 65
2012 69 64.7
2011 68.5 64.9
2010 68.3 62.3
2009 71.5 64.6
2008 71.3 63.7
2007 70 62.7
2006 71.9 64.1
2005 70.1 62.3
2004 69.4 59.2
2003 71.3 57
2002 73.6 57.1
2001 71.5 51.9
2000 69.5 47.3
1999 66.7 46.2
1998 67.9 45.7
1997 64.5 47.6
1996 62.3 48.6
1995 - 50

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/barbados/bulgaria | CC BY

The Economic Freedom Index for Barbados is 70.4, ranking 34/197, compared to 68.9 for Bulgaria, ranking 44/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Barbados Bulgaria
Services, % of GDP
75.8%
2024
63.3%
2025
Industry, % of GDP
12.2%
2024
21.2%
2025
Agriculture, forestry, and fishing, % of GDP
1.55%
2024
2.47%
2025
GNI, Atlas method
$7.65B
2025
$114B
2025
GNI per capita, PPP
$24,840
2025
$42,170
2025
Total reserves including gold
$1.65B
2024
$47.1B
2025
Total reserves ranking
131/177
2024
51/177
2025
Net foreign direct investment
-$208M
2017
-$3.37B
2025
Net inflows of foreign direct investment
$303M
2024
$3.05B
2024
Net outflows of foreign direct investment
$18.6M
2024
$1.21B
2024
Servicing debt to the IMF, % of GNI n/a
6.8%
2024
Poverty at national poverty lines
25.7%
2016
21.7%
2023
Gross capital formation, % of GDP n/a
21.7%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/barbados/bulgaria | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1994–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1924–1997, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2020–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.