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Bulgaria economy ranking: GDP & GDP per capita, debt

Updated on by Georank team

Bulgaria ranked 67/197 by economy size with a GDP of $113B and 64/197 by GDP per capita at $17,596. Bulgaria has $27.3B in government debt, with a debt-to-GDP ratio of 24.1%.

In 2024, Bulgaria made up 0.1% of the world's economy, compared to 0.17% in 1980.

Bulgaria GDP & GDP growth by year

GDP, current $
Real growth
1x
Year GDP GDP growth
2024 $113,343,355,780 3.39%
2023 $102,199,231,385 1.68%
2022 $90,506,153,294 4.08%
2021 $84,374,613,233 7.83%
2020 $70,486,877,546 -3.13%
2019 $68,507,731,354 3.79%
2018 $66,097,226,262 2.33%
2017 $59,167,647,388 2.75%
2016 $53,929,397,039 3.03%
2015 $50,765,918,159 3.4%
2014 $57,080,897,012 0.95%
2013 $55,819,262,375 -0.54%
2012 $54,297,052,002 0.75%
2011 $57,681,293,007 2.09%
2010 $50,689,051,382 1.56%
2009 $52,023,801,230 -3.35%
2008 $54,480,684,188 6.13%
2007 $44,431,257,129 6.65%
2006 $34,380,536,496 6.8%
2005 $29,868,657,858 7.06%
2004 $26,157,743,369 6.51%
2003 $21,144,957,990 5.24%
2002 $16,403,043,850 5.87%
2001 $14,183,446,026 3.82%
2000 $13,245,990,274 4.59%
1999 $13,637,098,579 -8.4%
1998 $15,031,055,047 3.79%
1997 $11,316,127,379 -14.1%
1996 $12,294,964,838 5.21%
1995 $18,991,484,420 2.9%
1994 $9,709,240,034 1.82%
1993 $10,832,064,942 -1.48%
1992 $8,602,887,623 -7.27%
1991 $7,628,738,475 -8.45%
1990 $20,632,090,909 -9.12%
1989 $21,988,444,444 -3.29%
1988 $22,555,941,176 10.9%
1987 $28,101,000,000 6.05%
1986 $20,249,294,118 4.21%
1985 $17,155,421,053 2.68%
1984 $17,594,944,444 3.4%
1983 $16,563,666,667 3.43%
1982 $19,342,000,000 2.33%
1981 $19,870,000,000 4.9%
1980 $19,839,230,769 -

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

GeoRank.org/economy/bulgaria | CC BY

Bulgaria GDP per capita by year

GDP per capita
GDP per capita, PPP
1x
Year Current $
GDP per capita GDP per capita, PPP
2024 $17,596 $41,969
2023 $15,853 $38,829
2022 $13,999 $36,320
2021 $12,966 $30,959
2020 $10,760 $27,352
2019 $10,354 $26,766
2018 $9,849 $23,998
2017 $8,697 $22,317
2016 $7,822 $20,746
2015 $7,269 $18,896
2014 $8,070 $17,991
2013 $7,796 $16,894
2012 $7,432 $16,327
2011 $7,850 $15,747
2010 $6,854 $14,954
2009 $6,988 $14,188
2008 $7,271 $14,347
2007 $5,889 $12,822
2006 $4,523 $11,406
2005 $3,900 $10,291
2004 $3,390 $9,200
2003 $2,719 $8,416
2002 $2,093 $7,786
2001 $1,771 $6,960
2000 $1,621 $6,424
1999 $1,661 $5,808
1998 $1,820 $6,178
1997 $1,361 $5,751
1996 $1,470 $6,849
1995 $2,259 $7,743
1994 $1,150 $7,338
1993 $1,279 $7,032
1992 $1,007 $6,917
1991 $884 $7,215
1990 $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/bulgaria | CC BY

Bulgaria has a GDP per capita of $17,596, ranking 64/197, a GDP per capita based on purchasing power parity (PPP) of $41,969, ranking 54/197, and a median annual after tax income of $14,263, ranking 59/197.

Bulgaria GDP rankings by year

GDP
GDP per capita
GDP per capita, PPP
1x
Year Rank
GDP GDP per capita GDP per capita, PPP
2024 67 60 49
2023 70 64 54
2022 68 64 54
2021 69 64 53
2020 71 64 54
2019 75 72 58
2018 76 75 63
2017 79 78 64
2016 78 79 64
2015 81 84 69
2014 78 82 70
2013 78 85 72
2012 76 86 72
2011 75 79 72
2010 75 83 73
2009 70 78 74
2008 72 79 73
2007 73 83 78
2006 73 86 80
2005 74 83 78
2004 73 87 85
2003 76 87 85
2002 80 94 85
2001 79 101 88
2000 81 104 92
1999 79 97 95
1998 78 100 87
1997 82 113 87
1996 78 105 72
1995 67 86 62
1994 78 109 61
1993 77 99 61
1992 79 109 64
1991 84 117 61
1990 62 75 60
1989 58 62 -
1988 57 60 -
1987 50 52 -
1986 52 60 -
1985 54 63 -
1984 55 64 -
1983 56 66 -
1982 53 61 -
1981 54 61 -
1980 52 58 -

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

GeoRank.org/economy/bulgaria | CC BY

Compared with 2000, in 2024 Bulgaria is ranked 67th out of 182 by GDP (up from 81st), 60th by GDP per capita (up from 104th), and 49th by GDP per capita PPP (up from 92nd).

Economic indicators

Bulgaria Rank
Gross domestic product
$113B
2024
67/197
GDP growth
3.39%
2023-2024
95/194
GDP per capita
$17,596
2024
64/197
GDP per capita, PPP
$41,969
2024
54/197
Government debt
$27.3B
2024
93/185
Debt-to-GDP ratio
24.1%
2024
169/185
Government debt per person
$4,237
2024
90/185
Average annual personal income after taxes
$14,263
2026
59/197
Listed domestic companies
204
2024
33/103
Market capitalization of domestic companies
$8.41B
2024
69/100
Number of billionaires
2
2025
53/78
Billionaire frequency
1 in 2,592,428
2025
53/78
Income share by richest 10%
31.1%
2023
46/169
Income share by poorest 10%
2.1%
2023
126/169
Government expenditure, % of GDP
36.7%
2024
67/195
Consumer prices inflation
2.6%
2023-2024
119/195
Central bank interest rate
1.81%
2025
97/106
Unemployment rate
4.17%
2024
123/196
Population
6359449
110/197

Government spending, deficit, and debt by year

Spending
Debt
Deficit/surplus
1x
Year % of GDP
Government spending Government debt Government deficit/surplus
2024 36.7% 24.1% -3.04%
2023 37.4% 22.9% -3.03%
2022 37.6% 22.5% -0.8%
2021 38.4% 23.8% -2.8%
2020 37.6% 22.7% -2.92%
2019 36% 18.4% -0.96%
2018 34.4% 20.1% 0.12%
2017 32% 22.9% 0.82%
2016 32.7% 27% 1.54%
2015 37.3% 25.4% -2.77%
2014 37.1% 26.3% -3.65%
2013 35.5% 17.2% -1.75%
2012 32.5% 16.5% -0.43%
2011 32% 14.3% -1.83%
2010 34.6% 14.1% -3.77%
2009 33.8% 14.5% -0.86%
2008 33.5% 14.7% 2.73%
2007 33.1% 17.6% 3.09%
2006 32.5% 22.6% 3.22%
2005 34% 28.5% 2.19%
2004 34.6% 37.8% 1.59%
2003 35.8% 45.4% 0.003%
2002 35.1% 53.4% -0.61%
2001 36.5% 67.1% -0.58%
2000 37.1% 73.3% -0.6%
1999 36.2% 78.7% 0.15%
1998 30.6% 67.3% 1.08%
1997 32.9% 88.4% 0.83%
1996 44% 113.8% -10.1%
1995 45.4% 72% -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 - 48.5% -
1945 - 41.7% -
1944 10.1% 33.2% 0%
1943 13.4% 34.5% 0%
1942 23% 33.3% -0.3%
1941 18.5% 33.2% 3.96%
1940 14.3% 38.8% 0.75%
1939 14.1% 38.8% 0.72%
1938 14.1% 42.7% 1%
1937 15.1% 47.2% 1.41%
1936 15.5% 56.1% 1.17%
1935 15.4% 59.9% 1.34%
1934 12% 62.4% -0.12%
1933 15.3% 61.3% -0.56%
1932 14.3% 59.1% -2.14%
1931 14.7% 50.4% -3.07%
1930 16.9% 47.6% -5.48%
1929 18.7% 40.7% -6.67%
1928 14.7% 39.8% -1.09%
1927 12.6% 34.3% -0.02%
1926 11.3% - -0.25%
1925 13.8% - -0.97%
1924 14.6% 11.5% 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/bulgaria | CC BY

This chart shows Bulgaria's government spending, budget balance, and debt over time, each expressed as a share of GDP.

Over the past 30 years, Bulgaria recorded a fiscal deficit in 18 of them, with an average annual deficit equal to 1.04% of GDP. In 2024, government spending reached $41.5B (36.7% of GDP), with a deficit of 3.04%.

The national debt reached $27.3B, ranking 93rd out of 185 countries by total size, with a debt-to-GDP ratio of 24.1%, ranking 169th.

Inflation rate by year

1x
Year Inflation
2024 2.6%
2023 8.6%
2022 13%
2021 2.8%
2020 1.2%
2019 2.5%
2018 2.6%
2017 1.2%
2016 -1.3%
2015 -1.1%
2014 -1.6%
2013 0.4%
2012 2.4%
2011 3.4%
2010 3%
2009 2.5%
2008 12%
2007 7.6%
2006 7.4%
2005 6%
2004 6.1%
2003 2.3%
2002 5.8%
2001 7.4%
2000 10.3%
1999 2.6%
1998 18.7%
1997 1,061%
1996 123%
1995 62.1%
1994 96%
1993 72.8%
1992 82%
1991 334%
1990 23.9%
1989 6.4%
1988 2.5%
1987 2.7%
1986 2.7%
1985 2.8%
1984 2.8%
1983 2.8%
1982 2.8%
1981 0%
1980 0%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1980–2024, retrieved 2026-02-20).

GeoRank.org/economy/bulgaria | CC BY

Over the past 20 years, Bulgaria has had an average annual inflation rate of 3.76%. In 2024, inflation was 2.6%. The bar chart above shows consumer price inflation by year.

Balance of trade

Bulgaria Rank
Current account balance
-$1.74B
2024
138/190
Current account balance, % of GDP
-1.54%
2024
99/190
Goods imports
$52.8B
2024
53/189
Goods exports
$47.3B
2024
54/189
Service imports
$8.26B
2024
76/189
Service exports
$16.6B
2024
55/189
Imports of goods and services, % of GDP
53.9%
2024
66/181
Exports of goods and services, % of GDP
56.4%
2024
44/193

Bulgaria top 10 trading partners

Bulgaria's biggest trading partner accounting for 12.9% of all exports and imports is Germany, with a trade balance between the two of +$1.89B: Bulgaria exports $7.86B worth of goods and services to Germany and imports $5.97B.

Below is the list of the top 10 trade partners of Bulgaria.

Rank Country Trade value Share of total trade Export to Import from Top export to Top import from
1 Germany $13.8B 12.9% $7.86B $5.97B Machinery & equipment Machinery & equipment
2 Turkey $8.4B 7.85% $3.52B $4.87B Metals Metals
3 Romania $7.43B 6.95% $4.84B $2.59B Machinery & equipment Processed food, beverages & tobacco
4 Italy $6.62B 6.19% $3.49B $3.12B Metals Machinery & equipment
5 China $6.47B 6.05% $828M $5.64B Raw materials & minerals Machinery & equipment
6 Greece $4.79B 4.48% $2.84B $1.95B Processed food, beverages & tobacco Processed food, beverages & tobacco
7 Poland $4.39B 4.11% $2.64B $1.75B Miscellaneous Machinery & equipment
8 France $3.21B 3% $1.8B $1.41B Machinery & equipment Machinery & equipment
9 Czech Republic $2.6B 2.43% $1.43B $1.18B Miscellaneous Machinery & equipment
10 Serbia $2.59B 2.42% $1.33B $1.25B Raw materials & minerals Metals

Top 10 exports

Bulgaria Rank
Machinery & equipment $12B 44/193
Metals $7.8B 41/192
Raw materials & minerals $6.67B 68/193
Textiles & consumer goods $4.48B 44/193
Chemicals & pharma $4.41B 45/193
Transport & tourism services $3.91B 80/188
Processed food, beverages & tobacco $3.65B 46/192
Miscellaneous $2.94B 22/191
Raw agricultural goods $2.79B 42/193
Wood & paper products $892M 51/192

Top 10 imports

Bulgaria Rank
Machinery & equipment $16.3B 56/193
Raw materials & minerals $11.1B 52/193
Chemicals & pharma $6.82B 56/193
Metals $5.31B 47/193
Textiles & consumer goods $4.4B 54/193
Processed food, beverages & tobacco $4.03B 50/193
Raw agricultural goods $1.87B 59/193
Transport & tourism services $1.47B 112/188
Animal & marine products $1.42B 48/193
Wood & paper products $1.09B 62/193

Economic freedom indices

Bulgaria Rank
Economic freedom 68.9 44/197
Property rights 75.8 43/182
Government integrity 48.4 69/182
Judicial effectiveness 58.5 65/182
Tax burden 89.1 33/182
Government spending 58.4 122/180
Fiscal health 90.4 48/181
Business freedom 78.2 39/182
Labor freedom 62.4 35/182
Monetary freedom 75.8 72/180
Trade freedom 79.4 32/181
Investment freedom 60 60/181
Financial freedom 50 73/181

Economic freedom by year

1x
Year Index
Economic freedom Judicial effectiveness Tax burden Government spending Fiscal health
2026 68.9 58.5 89.1 58.4 90.4
2025 68.8 56.6 94.2 56.7 91.1
2024 68.5 57.4 92.9 56.2 91.4
2023 69.3 43.9 93.7 56.5 90.5
2022 71 61.1 93.9 60.5 96.2
2021 70.4 43.6 93.9 64.7 99.2
2020 70.2 45.4 90.3 66.1 99.2
2019 69 41.9 90.2 63.9 98.8
2018 68.3 42.5 90.9 60.5 94.3
2017 67.9 38.9 91 58.4 86.4
2016 65.9 - 91.1 60.4 -
2015 66.8 - 91 64.5 -
2014 65.7 - 91.2 64.5 -
2013 65 - 94 64.2 -
2012 64.7 - 93.6 50.3 -
2011 64.9 - 86.9 58.3 -
2010 62.3 - 86.3 48.3 -
2009 64.6 - 86.2 58.7 -
2008 63.7 - 82.7 56 -
2007 62.7 - 82.4 57.8 -
2006 64.1 - 83.2 49.8 -
2005 62.3 - 80.3 53.4 -
2004 59.2 - 81.1 64.5 -
2003 57 - 72.4 56.7 -
2002 57.1 - 68.3 49.6 -
2001 51.9 - 58.1 67.3 -
2000 47.3 - 67.9 54.4 -
1999 46.2 - 68 46.3 -
1998 45.7 - 53.5 48.8 -
1997 47.6 - 48.9 37.3 -
1996 48.6 - 50.6 30.6 -
1995 50 - 46 50.5 -

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

GeoRank.org/economy/bulgaria | CC BY

Bulgaria is ranked 38/174 for economic freedom with a score of 68.9, compared to 49/162 and a score of 64.1 in 2006.

Other economic metrics

Bulgaria Rank
Services, % of GDP
63.8%
2024
53/191
Industry, % of GDP
21.1%
2024
122/194
Agriculture, forestry, and fishing, % of GDP
2.35%
2024
146/193
GNI, Atlas method
$99B
2024
71/194
GNI per capita, PPP
$39,850
2024
51/191
Total reserves including gold
$43.7B
2024
47/177
Net foreign direct investment
-$2.22B
2024
141/189
Net inflows of foreign direct investment
$3.55B
2024
54/193
Net outflows of foreign direct investment
$1.13B
2024
48/193
Servicing debt to the IMF, % of GNI
6.8%
2024
32/121
Poverty at national poverty lines
21.7%
2023
90/176
Gross capital formation, % of GDP
20.4%
2024
119/178

Compare Bulgaria vs other countries

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/bulgaria | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1980–2024, retrieved 2026-04-06)
  2. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1998–2024, retrieved 2026-02-20)
  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 (2023–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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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.