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Economy of Bosnia and Herzegovina vs Bulgaria compared: GDP & Debt

Updated on by Georank team

Bosnia and Herzegovina has a GDP of $29.6B compared to $113B for Bulgaria, ranking 111/197 and 67/197 by economy size, respectively.

Bosnia and Herzegovina has $8.74B in government debt (29.5% of GDP), compared to $27.3B (24.1% of GDP) in Bulgaria.

Bosnia and Herzegovina vs Bulgaria GDP by year

Bosnia and Herzegovina
Bulgaria
1x
Year GDP, current $
Bosnia Bulgaria
2024 $29,613,572,023 $113,343,355,780
2023 $27,592,361,498 $102,199,231,385
2022 $24,534,663,636 $90,506,153,294
2021 $23,672,712,121 $84,374,613,233
2020 $20,226,038,370 $70,486,877,546
2019 $20,482,608,984 $68,507,731,354
2018 $20,484,058,033 $66,097,226,262
2017 $18,326,373,136 $59,167,647,388
2016 $17,116,926,554 $53,929,397,039
2015 $16,404,348,361 $50,765,918,159
2014 $18,558,734,107 $57,080,897,012
2013 $18,179,109,209 $55,819,262,375
2012 $17,226,735,996 $54,297,052,002
2011 $18,644,233,537 $57,681,293,007
2010 $17,176,315,804 $50,689,051,382
2009 $17,613,949,091 $52,023,801,230
2008 $19,112,796,623 $54,480,684,188
2007 $15,778,734,264 $44,431,257,129
2006 $12,864,841,906 $34,380,536,496
2005 $11,222,796,337 $29,868,657,858
2004 $10,156,541,221 $26,157,743,369
2003 $8,498,894,359 $21,144,957,990
2002 $6,728,220,983 $16,403,043,850
2001 $5,800,615,375 $14,183,446,026
2000 $5,567,772,769 $13,245,990,274
1999 $4,686,256,363 $13,637,098,579
1998 $4,116,774,301 $15,031,055,047
1997 $3,671,909,673 $11,316,127,379
1996 $2,786,045,322 $12,294,964,838
1995 $1,866,572,954 $18,991,484,420
1994 $1,255,802,469 $9,709,240,034
1993 $3,630,668,950 $10,832,064,942
1992 $4,735,044,707 $8,602,887,623
1991 $6,122,959,184 $7,628,738,475
1990 $7,753,478,261 $20,632,090,909
1989 - $21,988,444,444
1988 - $22,555,941,176
1987 - $28,101,000,000
1986 - $20,249,294,118
1985 - $17,155,421,053
1984 - $17,594,944,444
1983 - $16,563,666,667
1982 - $19,342,000,000
1981 - $19,870,000,000
1980 - $19,839,230,769

Data sources: World Bank | Economy & Growth (1980–2024, retrieved 2026-04-06).

GeoRank.org/economy/bosnia-and-herzegovina/bulgaria | CC BY

GDP per capita in Bosnia and Herzegovina vs Bulgaria by year

Bosnia and Herzegovina
GDP per capita

GDP per capita, PPP
Bulgaria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bosnia Bulgaria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $9,359 $25,043 $17,596 $41,969
2023 $8,663 $23,376 $15,853 $38,829
2022 $7,656 $21,651 $13,999 $36,320
2021 $7,295 $18,287 $12,966 $30,959
2020 $6,130 $16,370 $10,760 $27,352
2019 $6,122 $16,429 $10,354 $26,766
2018 $6,048 $14,859 $9,849 $23,998
2017 $5,345 $13,627 $8,697 $22,317
2016 $4,929 $12,899 $7,822 $20,746
2015 $4,662 $11,845 $7,269 $18,896
2014 $5,206 $11,168 $8,070 $17,991
2013 $5,035 $10,808 $7,796 $16,894
2012 $4,694 $10,121 $7,432 $16,327
2011 $4,983 $9,761 $7,850 $15,747
2010 $4,506 $9,086 $6,854 $14,954
2009 $4,540 $8,698 $6,988 $14,188
2008 $4,842 $8,587 $7,271 $14,347
2007 $3,931 $7,686 $5,889 $12,822
2006 $3,166 $6,869 $4,523 $11,406
2005 $2,740 $5,956 $3,900 $10,291
2004 $2,453 $5,407 $3,390 $9,200
2003 $2,034 $4,917 $2,719 $8,416
2002 $1,607 $4,665 $2,093 $7,786
2001 $1,388 $4,307 $1,771 $6,960
2000 $1,338 $4,148 $1,621 $6,424
1999 $1,135 $3,875 $1,661 $5,808
1998 $1,007 $3,524 $1,820 $6,178
1997 $914 $3,041 $1,361 $5,751
1996 $719 $2,269 $1,470 $6,849
1995 $502 $1,507 $2,259 $7,743
1994 $337 $1,269 $1,150 $7,338
1993 $930 $1,067 $1,279 $7,032
1992 $1,118 $982 $1,007 $6,917
1991 $1,373 $975 $884 $7,215
1990 $1,743 $1,043 $2,367 $7,548
1989 - - $2,477 -
1988 - - $2,511 -
1987 - - $3,132 -
1986 - - $2,260 -
1985 - - $1,915 -
1984 - - $1,964 -
1983 - - $1,853 -
1982 - - $2,169 -
1981 - - $2,235 -
1980 - - $2,239 -

Data sources: World Bank | Economy & Growth (1980–2024, retrieved 2026-04-06).

GeoRank.org/economy/bosnia-and-herzegovina/bulgaria | CC BY

Bosnia and Herzegovina's GDP per capita is $9,359, ranking 87/197, compared to $17,596 in Bulgaria, ranking 64/197. Adjusted for purchasing power (GDP per capita PPP), Bosnia and Herzegovina ranks 83rd at $25,043, while Bulgaria ranks 54th at $41,969.

Economic indicators

Bosnia Bulgaria
Gross domestic product
$29.6B
2024
$113B
2024
GDP rank
111/197
2024
67/197
2024
GDP growth
2.97%
2023-2024
3.39%
2023-2024
GDP per capita
$9,359
2024
$17,596
2024
GDP per capita rank
87/197
2024
64/197
2024
GDP per capita, PPP
$25,043
2024
$41,969
2024
GDP per capita PPP rank
83/197
2024
54/197
2024
Government debt
$8.74B
2024
$27.3B
2024
Debt-to-GDP ratio
29.5%
2024
24.1%
2024
Government debt per person
$2,763
2024
$4,237
2024
Government debt per person rank
107/185
2024
90/185
2024
Average annual personal income after taxes
$8,501
2026
$14,263
2026
Market capitalization of domestic companies n/a
$8.41B
2024
Number of billionaires n/a
2
2025
Income share by richest 10%
25.1%
2011
31.1%
2023
Income share by poorest 10%
2.9%
2011
2.1%
2023
Government expenditure, % of GDP
43.3%
2024
36.7%
2024
Consumer prices inflation
1.7%
2023-2024
2.6%
2023-2024
Central bank interest rate n/a
1.81%
2025
Unemployment rate
10.7%
2024
4.17%
2024
Population
3116111
6359449

Spending and national debt comparison by year

Bosnia and Herzegovina
Spending

Debt
Bulgaria
Spending

Debt
1x
Year % of GDP
Bosnia Bulgaria
Government spending Government debt Government spending Government debt
2024 43.3% 29.5% 36.7% 24.1%
2023 41.7% 29% 37.4% 22.9%
2022 39.4% 31.2% 37.6% 22.5%
2021 40.6% 35.8% 38.4% 23.8%
2020 45.4% 37.2% 37.6% 22.7%
2019 39.9% 32.8% 36% 18.4%
2018 40.4% 34.5% 34.4% 20.1%
2017 40% 38.6% 32% 22.9%
2016 41.5% 44.9% 32.7% 27%
2015 42.7% 46.4% 37.3% 25.4%
2014 46.2% 47.1% 37.1% 26.3%
2013 44.5% 43.8% 35.5% 17.2%
2012 46.9% 43.6% 32.5% 16.5%
2011 46.4% 40.9% 32% 14.3%
2010 48.7% 42.2% 34.6% 14.1%
2009 49% 36.4% 33.8% 14.5%
2008 48.4% 30.3% 33.5% 14.7%
2007 45.2% 18.2% 33.1% 17.6%
2006 44.2% 20.6% 32.5% 22.6%
2005 44.5% 24.9% 34% 28.5%
2004 45.6% 25.5% 34.6% 37.8%
2003 47.3% 27.6% 35.8% 45.4%
2002 47.4% 31.1% 35.1% 53.4%
2001 50.2% 35.1% 36.5% 67.1%
2000 56.2% 34.6% 37.1% 73.3%
1999 57.5% 56% 36.2% 78.7%
1998 54.4% 54.4% 30.6% 67.3%
1997 - - 32.9% 88.4%
1996 - - 44% 113.8%
1995 - - 45.4% 72%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1998–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1995–1997, retrieved 2026-02-20).

GeoRank.org/economy/bosnia-and-herzegovina/bulgaria | CC BY

In 2024, Bosnia and Herzegovina's government spending was $12.8B, accounting for 43.3% of its GDP, while Bulgaria spent $41.5B, or 36.7% of GDP.

Debt-to-GDP ratio is 29.5% in Bosnia and Herzegovina and 24.1% in Bulgaria, ranking 159/185 and 169/185, respectively.

Government deficit by year

Deficit/surplus
Bosnia and Herzegovina

Bulgaria
1x
Year Deficit/surplus, % of GDP
Bosnia Bulgaria
2024 -1.88% -3.04%
2023 -1.67% -3.03%
2022 0.15% -0.8%
2021 -0.18% -2.8%
2020 -4.5% -2.92%
2019 1.37% -0.96%
2018 1.63% 0.12%
2017 1.79% 0.82%
2016 0.34% 1.54%
2015 -0.19% -2.77%
2014 -2.87% -3.65%
2013 -1.28% -1.75%
2012 -2.68% -0.43%
2011 -2.73% -1.83%
2010 -4.06% -3.77%
2009 -5.34% -0.86%
2008 -3.82% 2.73%
2007 0.17% 3.09%
2006 2.08% 3.22%
2005 0.74% 2.19%
2004 -0.18% 1.59%
2003 -0.44% 0.003%
2002 -2.99% -0.61%
2001 -3.44% -0.58%
2000 -4.63% -0.6%
1999 -2.78% 0.15%
1998 -0.98% 1.08%
1997 - 0.83%
1996 - -10.1%
1995 - -7.98%
1994 - -
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 (1998–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1924–1997, retrieved 2026-02-20).

GeoRank.org/economy/bosnia-and-herzegovina/bulgaria | CC BY

In 2024, Bosnia and Herzegovina's government deficit, the difference between spending and revenue, was $557M, equivalent to 1.88% of GDP. This compares to Bulgaria's deficit of $3.44B, or 3.04% of GDP.

Over the past 27 years, Bosnia and Herzegovina recorded a fiscal deficit in 19 of those years, while Bulgaria ran a deficit in 16 years. On average, Bosnia and Herzegovina posted an annual deficit equal to 1.42% of GDP, compared to deficit of 0.51% of GDP for Bulgaria.

Inflation comparison by year

Inflation
Bosnia and Herzegovina

Bulgaria
1x
Year Consumer prices inflation
Bosnia Bulgaria
2024 1.7% 2.6%
2023 6.1% 8.6%
2022 14% 13%
2021 2% 2.8%
2020 -1.1% 1.2%
2019 0.6% 2.5%
2018 1.4% 2.6%
2017 0.8% 1.2%
2016 -1.6% -1.3%
2015 -1% -1.1%
2014 -0.9% -1.6%
2013 -0.1% 0.4%
2012 2.1% 2.4%
2011 4% 3.4%
2010 2.1% 3%
2009 -0.4% 2.5%
2008 7.4% 12%
2007 1.5% 7.6%
2006 6.1% 7.4%
2005 3.6% 6%
2004 0.3% 6.1%
2003 0.5% 2.3%
2002 0.3% 5.8%
2001 3.2% 7.4%
2000 5% 10.3%
1999 2.8% 2.6%
1998 -0.3% 18.7%
1997 5.7% 1,061%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

GeoRank.org/economy/bosnia-and-herzegovina/bulgaria | CC BY

Over the past 28 years, Bosnia and Herzegovina has recorded an average annual inflation rate of 2.35%, compared with 42.5% in Bulgaria. In 2024, inflation was 1.7% in Bosnia and Herzegovina and 2.6% in Bulgaria.

Top exports between countries

Bosnia
Export category Export value
Weapons & explosives $12.6M
Metals $10.6M
Transport & tourism services $10.2M
Wood & paper products $7.1M
Textiles & consumer goods $6.15M
Machinery & equipment $5.99M
Raw materials & minerals $4.08M
Processed food, beverages & tobacco $3.82M
Chemicals & pharma $1.82M
IT & IP services $1.06M
Bulgaria
Export category Export value
Processed food, beverages & tobacco $24.7M
Machinery & equipment $18.8M
Chemicals & pharma $17.4M
Textiles & consumer goods $16.8M
Metals $10.5M
Miscellaneous $5.73M
Raw materials & minerals $4.95M
Raw agricultural goods $1.1M
Wood & paper products $787K
Animal & marine products $675K

Balance of trade

Bosnia Bulgaria
Current account balance
-$1.03B
2024
-$1.74B
2024
Current account balance ranking
123/190
2024
138/190
2024
Current account balance, % of GDP
-3.47%
2024
-1.54%
2024
Goods imports
$14.8B
2024
$52.8B
2024
Goods exports
$8.36B
2024
$47.3B
2024
Service imports
$1.27B
2024
$8.26B
2024
Service exports
$3.74B
2024
$16.6B
2024
Imports of goods and services, % of GDP
54.3%
2024
53.9%
2024
Exports of goods and services, % of GDP
40.9%
2024
56.4%
2024

Economic freedom indices

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

Bosnia Bulgaria
Economic freedom 63.1 68.9
Economic freedom ranking 83/197 44/197
Property rights 46.9 75.8
Government integrity 36.8 48.4
Judicial effectiveness 36.1 58.5
Tax burden 93.9 89.1
Government spending 48.4 58.4
Fiscal health 96.2 90.4
Business freedom 65.1 78.2
Labor freedom 62.7 62.4
Monetary freedom 77.5 75.8
Trade freedom 69 79.4
Investment freedom 65 60
Financial freedom 60 50

Economic freedom comparison by year

Bosnia and Herzegovina
Bulgaria
1x
Year Economic freedom index
Bosnia Bulgaria
2026 63.1 68.9
2025 63.5 68.8
2024 62 68.5
2023 62.9 69.3
2022 63.4 71
2021 62.9 70.4
2020 62.6 70.2
2019 61.9 69
2018 61.4 68.3
2017 60.2 67.9
2016 58.6 65.9
2015 59 66.8
2014 58.4 65.7
2013 57.3 65
2012 57.3 64.7
2011 57.5 64.9
2010 56.2 62.3
2009 53.1 64.6
2008 53.9 63.7
2007 54.4 62.7
2006 55.6 64.1
2005 48.8 62.3
2004 44.7 59.2
2003 40.6 57
2002 37.4 57.1
2001 36.6 51.9
2000 45.1 47.3
1999 29.4 46.2
1998 29.4 45.7
1997 - 47.6
1996 - 48.6
1995 - 50

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/bosnia-and-herzegovina/bulgaria | CC BY

The Economic Freedom Index for Bosnia and Herzegovina is 63.1, ranking 83/197, 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

Bosnia Bulgaria
Services, % of GDP
56.6%
2024
63.8%
2024
Industry, % of GDP
22.4%
2024
21.1%
2024
Agriculture, forestry, and fishing, % of GDP
4.53%
2024
2.35%
2024
GNI, Atlas method
$27.8B
2024
$99B
2024
GNI per capita, PPP
$24,990
2024
$39,850
2024
Total reserves including gold
$9.42B
2024
$43.7B
2024
Total reserves ranking
79/177
2024
47/177
2024
Net foreign direct investment
-$885M
2024
-$2.22B
2024
Net inflows of foreign direct investment
$1B
2024
$3.55B
2024
Net outflows of foreign direct investment
$119M
2024
$1.13B
2024
Servicing debt to the IMF, % of GNI
4.93%
2024
6.8%
2024
Poverty at national poverty lines
16.9%
2015
21.7%
2023
Gross capital formation, % of GDP
27.5%
2024
20.4%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/bosnia-and-herzegovina/bulgaria | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1980–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1998–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1924–1997, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2021–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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.