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Economy of Bulgaria vs Cambodia compared: GDP & Debt

Updated on by Georank team

Bulgaria has a GDP of $112B compared to $46.4B for Cambodia, ranking 68/197 and 97/197 by economy size, respectively.

Bulgaria has $26.2B in government debt (28% of GDP), compared to $12.3B (29.1% of GDP) in Cambodia.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Bulgaria
GDP, current $

GDP, constant 2015 $
Cambodia
GDP, current $

GDP, constant 2015 $
Year GDP
Bulgaria Cambodia
Current $ Constant $ Current $ Constant $
1975 - - $749,129,748 $5,104,596,992
1976 - - $790,357,255 $5,104,596,992
1977 - - $716,261,764 $4,355,425,545
1978 - - $766,642,356 $4,355,425,545
1979 - - $723,738,503 $3,796,687,002
1980 $19,839,230,769 $30,380,971,166 $744,384,130 $3,581,475,362
1981 $19,870,000,000 $31,869,687,928 $815,153,652 $3,582,947,066
1982 $19,342,000,000 $32,613,706,697 $865,516,040 $3,582,947,066
1983 $16,563,666,667 $33,732,456,606 $939,291,262 $3,741,793,667
1984 $17,594,944,444 $34,878,160,477 $1,021,176,059 $3,926,341,896
1985 $17,155,421,053 $35,814,095,245 $1,102,669,184 $4,109,709,289
1986 $20,249,294,118 $37,321,009,834 $1,167,630,318 $4,265,911,860
1987 $28,101,000,000 $39,580,615,539 $1,036,974,910 $5,184,427,494
1988 $22,555,941,176 $43,912,592,027 $1,662,877,859 $5,805,361,651
1989 $21,988,444,444 $42,467,919,536 $1,353,137,648 $6,007,352,428
1990 $20,632,090,909 $38,595,959,168 $1,402,541,177 $6,077,176,597
1991 $7,628,738,475 $35,336,393,321 $2,054,974,089 $6,538,513,179
1992 $8,602,887,623 $32,766,593,697 $2,491,486,594 $6,997,355,850
1993 $10,832,064,942 $32,281,577,705 $2,533,727,592 $7,284,133,440
1994 $9,709,240,034 $32,868,460,441 $2,791,435,272 $4,748,625,743
1995 $18,991,484,420 $33,809,162,070 $3,441,205,693 $5,218,904,416
1996 $12,294,964,838 $35,569,061,581 $3,506,695,720 $5,526,689,597
1997 $11,316,127,379 $30,548,353,201 $3,443,413,389 $5,748,123,107
1998 $15,031,055,047 $31,705,867,020 $3,120,425,503 $6,017,229,084
1999 $13,637,098,579 $29,043,813,498 $3,517,242,477 $6,781,740,973
2000 $13,245,990,274 $30,376,118,720 $3,694,168,979 $7,459,479,705
2001 $14,183,446,026 $31,537,611,700 $4,145,665,970 $8,010,713,671
2002 $16,403,043,850 $33,389,478,558 $4,501,227,627 $8,512,590,715
2003 $21,144,957,990 $35,138,136,848 $5,046,693,484 $9,387,998,415
2004 $26,157,743,369 $37,425,778,955 $5,883,297,160 $10,275,886,654
2005 $29,868,657,858 $40,066,672,613 $7,066,296,463 $11,642,922,160
2006 $34,380,536,496 $42,792,243,672 $8,350,531,017 $12,917,049,054
2007 $44,431,257,129 $45,639,805,450 $10,127,916,460 $14,260,222,988
2008 $54,480,684,188 $48,437,324,161 $12,174,303,999 $15,326,369,460
2009 $52,023,801,230 $46,816,058,447 $12,502,901,170 $15,950,885,069
2010 $50,689,051,382 $47,544,216,522 $13,808,673,288 $16,760,698,493
2011 $57,681,293,007 $48,537,973,978 $16,032,622,024 $17,981,993,294
2012 $54,297,052,002 $48,901,433,558 $17,826,536,700 $19,357,661,919
2013 $55,819,262,375 $48,636,020,243 $19,807,135,253 $20,878,690,157
2014 $57,080,897,012 $49,097,794,444 $22,041,463,968 $22,549,052,337
2015 $50,765,918,159 $50,765,918,159 $24,174,170,369 $24,174,170,369
2016 $53,929,397,039 $52,302,414,125 $26,556,545,153 $26,085,259,688
2017 $59,167,647,388 $53,738,599,947 $29,355,665,910 $28,191,654,622
2018 $66,251,582,036 $55,108,646,394 $33,145,892,169 $30,665,817,314
2019 $68,634,004,792 $57,196,630,544 $36,685,356,408 $33,099,747,943
2020 $70,550,652,467 $55,357,337,084 $34,818,073,901 $31,922,812,945
2021 $84,414,122,840 $59,664,478,254 $36,790,163,687 $32,909,177,696
2022 $90,509,236,929 $62,074,193,827 $39,994,532,960 $34,597,385,967
2023 $102,396,840,296 $63,245,418,927 $42,335,646,896 $36,329,791,405
2024 $112,211,952,704 $65,023,138,714 $46,352,647,035 $38,515,324,291

Economic indicators

Bulgaria Cambodia
Gross domestic product
$112B
2024
$46.4B
2024
GDP rank
68/197
2024
97/197
2024
GDP growth
9.59%
2023-2024
9.49%
2023-2024
GDP per capita
$17,412
2024
$2,628
2024
GDP per capita rank
64/197
2024
145/197
2024
GDP per capita, PPP
$41,086
2024
$7,970
2024
Government debt
$26.2B
2024
$12.3B
2024
Debt-to-GDP ratio
28%
2025
29.1%
2025
Government debt per person
$4,067
2024
$700
2024
Government debt per person rank
90/185
2024
154/185
2024
Average annual personal income after taxes
$12,784
2025
$2,518
2025
Market capitalization of domestic companies
$8.41B
2024
n/a
Number of billionaires
2
2025
n/a
Income share by richest 10%
31.1%
2023
n/a
Income share by poorest 10%
2.1%
2023
n/a
Government expenditure, % of GDP
39%
2025
17.9%
2025
Consumer prices inflation
3.6%
2024-2025
1.6%
2024-2025
Central bank interest rate
1.82%
2025
n/a
Unemployment rate
4.17%
2024
0.26%
2023
Population
6403235
18011232

GDP per capita in Bulgaria vs Cambodia

Bulgaria's GDP per capita is $17,412, ranking 64/197, compared to $2,628 in Cambodia, ranking 145/197. Adjusted for purchasing power (GDP per capita PPP), Bulgaria ranks 57th at $41,086, while Cambodia ranks 140th at $7,970.

Bulgaria
GDP per capita

GDP per capita, PPP
Cambodia
GDP per capita

GDP per capita, PPP
Year Current $
Bulgaria Cambodia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1975 - - $113.8 -
1976 - - $128.8 -
1977 - - $126.4 -
1978 - - $147.1 -
1979 - - $142.2 -
1980 $2,239 - $143.2 -
1981 $2,235 - $154.3 -
1982 $2,169 - $159.2 -
1983 $1,853 - $166.7 -
1984 $1,964 - $174.7 -
1985 $1,915 - $182.4 -
1986 $2,260 - $185.8 -
1987 $3,132 - $158.1 -
1988 $2,511 - $244.1 -
1989 $2,477 - $191.3 -
1990 $2,367 $7,546 $190.2 $1,410
1991 $884 $7,213 $267.3 $1,504
1992 $1,007 $6,915 $307 $1,560
1993 $1,279 $7,030 $294.1 $1,565
1994 $1,150 $7,335 $302 $972
1995 $2,259 $7,738 $343 $1,006
1996 $1,470 $6,846 $325 $1,006
1997 $1,361 $5,749 $297.6 $994
1998 $1,820 $6,178 $258.8 $1,009
1999 $1,661 $5,808 $286.8 $1,134
2000 $1,621 $6,423 $296.4 $1,256
2001 $1,771 $6,961 $328 $1,357
2002 $2,093 $7,786 $350 $1,442
2003 $2,719 $8,417 $387 $1,598
2004 $3,390 $9,202 $444 $1,770
2005 $3,900 $10,291 $526 $2,038
2006 $4,523 $11,408 $612 $2,297
2007 $5,889 $12,822 $732 $2,566
2008 $7,271 $14,347 $866 $2,769
2009 $6,988 $14,181 $876 $2,854
2010 $6,854 $14,956 $952 $2,989
2011 $7,850 $15,747 $1,089 $3,223
2012 $7,432 $16,327 $1,193 $3,583
2013 $7,796 $16,894 $1,306 $3,891
2014 $8,070 $17,991 $1,432 $4,118
2015 $7,269 $18,901 $1,547 $4,434
2016 $7,822 $20,745 $1,675 $4,748
2017 $8,697 $22,317 $1,826 $5,050
2018 $9,872 $24,053 $2,037 $5,617
2019 $10,373 $26,814 $2,226 $6,154
2020 $10,770 $27,377 $2,082 $5,942
2021 $12,972 $30,974 $2,167 $6,226
2022 $14,000 $35,816 $2,325 $6,919
2023 $15,884 $37,508 $2,430 $7,431
2024 $17,412 $41,086 $2,628 $7,970

Spending and national debt comparison

In 2024, Bulgaria's government spending was $41.1B, accounting for 39% of its GDP, while Cambodia's spent $8.22B, or 17.9% of GDP.

Debt-to-GDP ratio is 28% in Bulgaria and 29.1% in Cambodia, ranking 162/185 and 160/185, respectively.

Bulgaria
Government spending

Government debt
Cambodia
Government spending

Government debt
Year % of GDP
Bulgaria Cambodia
Government spending Government debt Government spending Government debt
1995 45.4% 72% - -
1996 44% 113.8% 15.7% 30.1%
1997 32.9% 88.4% 12.4% 31.4%
1998 30.6% 67.3% 13.4% 37.2%
1999 36.2% 78.7% 13.8% 34.6%
2000 37.1% 73.3% 14.9% 34.9%
2001 36.5% 67.1% 14.5% 33.5%
2002 35.1% 53.4% 16.1% 37.8%
2003 35.8% 45.4% 14.5% 39.8%
2004 34.6% 37.8% 12.6% 38.7%
2005 34% 28.5% 11% 31.7%
2006 32.5% 22.6% 11.3% 26.7%
2007 33.1% 17.6% 12.3% 25.1%
2008 33.5% 14.7% 13.1% 23%
2009 33.8% 14.5% 17% 23.7%
2010 34.6% 14.1% 17% 23.4%
2011 32% 14.3% 16.5% 23.8%
2012 32.5% 16.5% 17.1% 24.9%
2013 35.5% 17.2% 16.4% 24.4%
2014 37.1% 26.3% 16.5% 24.2%
2015 37.3% 25.4% 14.5% 23.3%
2016 32.7% 27% 15.2% 21.8%
2017 32% 22.9% 16.2% 22.6%
2018 34.4% 20.1% 16.1% 21.1%
2019 36% 18.4% 17.6% 20.8%
2020 37.6% 22.7% 20.3% 25.2%
2021 38.4% 22.4% 21% 25.9%
2022 37.6% 21.5% 18.4% 25%
2023 37.4% 21.9% 18.7% 25.7%
2024 36.6% 23.4% 17.7% 26.6%
2025 39% 28% 17.9% 29.1%

Government deficit by year

In 2024, Bulgaria's government deficit, the difference between spending and revenue, was -$3.4B, equivalent to -3.03% of GDP. This compares to Cambodia's deficit of -$1.44B, or -3.1% of GDP.

Over the past 29 years, Bulgaria recorded a fiscal deficit in 17 of those years, while Cambodia ran a deficit in 25 years. On average, Bulgaria posted an annual deficit equal to -0.8% of GDP, compared to deficit of -2.6% of GDP for Cambodia.

Deficit/surplus
Bulgaria

Cambodia
Year Deficit/surplus, % of GDP
Bulgaria Cambodia
1924 1.26% -
1925 -0.97% -
1926 -0.25% -
1927 -0.02% -
1928 -1.09% -
1929 -6.67% -
1930 -5.48% -
1931 -3.07% -
1932 -2.14% -
1933 -0.56% -
1934 -0.12% -
1935 1.34% -
1936 1.17% -
1937 1.41% -
1938 1% -
1939 0.72% -
1940 0.75% -
1941 3.96% -
1942 -0.3% -
1943 0% -
1944 0% -
1945 0% -
1946 0% -
1947 0% -
1948 0% -
1949 0% -
1950 0% -
1951 0% -
1952 0% -
1953 0% -
1954 0% -
1955 0% -
1956 0% -
1957 0% -
1958 0% -
1959 0% -
1960 0% -
1961 0% -
1962 0% -
1963 0% -
1964 0% -
1965 0% -
1966 0% -
1967 0% -
1968 0% -
1969 0% -
1970 0% -
1971 0% -
1972 0% -
1973 0% -
1974 0% -
1975 0% -
1976 0% -
1977 0% -
1978 0% -
1979 0% -
1980 0% -
1981 0% -
1982 0% -
1983 0% -
1984 0% -
1985 0% -
1986 0% -
1987 0% -
1988 0% -
1989 0% -
1990 0% -
1991 0% -
1992 0% -
1993 0% -
1994 0% -
1995 -7.98% -
1996 -10.1% -7.53%
1997 0.83% -3.7%
1998 1.08% -5.35%
1999 0.15% -3.79%
2000 -0.6% -4.76%
2001 -0.58% -4.95%
2002 -0.61% -6.07%
2003 0.003% -5.69%
2004 1.59% -3.23%
2005 2.19% -0.34%
2006 3.22% -0.15%
2007 3.09% 0.62%
2008 2.73% 0.43%
2009 -0.86% -3.98%
2010 -3.77% -3.09%
2011 -1.83% -3.76%
2012 -0.43% -3.57%
2013 -1.75% -2.01%
2014 -3.65% -1.24%
2015 -2.77% -0.65%
2016 1.54% -0.29%
2017 0.82% -0.76%
2018 0.12% 0.28%
2019 -0.96% 2.19%
2020 -2.92% -2.53%
2021 -2.8% -5.18%
2022 -0.8% -0.29%
2023 -3.03% -2.77%
2024 -3.03% -3.1%
2025 -3.03% -3.23%

Inflation comparison by year

Over the past 30 years, Bulgaria has recorded an average annual inflation rate of 43.9%, compared with 4.24% in Cambodia. In 2025, inflation was 3.6% in Bulgaria and 1.6% in Cambodia.

Inflation
Bulgaria

Cambodia
Year Inflation
Bulgaria Cambodia Bulgaria Cambodia
1996 123% 7.1%
1997 1,061% 10.5%
1998 18.7% 12.9%
1999 2.6% 2%
2000 10.3% -0.8%
2001 7.4% -0.1%
2002 5.8% 0%
2003 2.3% 1%
2004 6.1% 3.9%
2005 6% 6.3%
2006 7.4% 6.1%
2007 7.6% 7.7%
2008 12% 25%
2009 2.5% -0.7%
2010 3% 4%
2011 3.4% 5.5%
2012 2.4% 2.9%
2013 0.4% 2.9%
2014 -1.6% 3.9%
2015 -1.1% 1.2%
2016 -1.3% 3%
2017 1.2% 2.9%
2018 2.6% 2.4%
2019 2.5% 2%
2020 1.2% 2.9%
2021 2.8% 2.9%
2022 13% 5.3%
2023 8.6% 2.1%
2024 2.6% 0.9%
2025 3.6% 1.6%

Top exports between countries

Bulgaria
Export category Export value
Animal & marine products $1.37M
Processed food, beverages & tobacco $1.18M
Textiles & consumer goods $897K
Machinery & equipment $848K
Metals $431K
Chemicals & pharma $355K
Raw materials & minerals $46K
Miscellaneous $1K
Precious metals & jewellery $1K
Cambodia
Export category Export value
Processed food, beverages & tobacco $20.7M
Textiles & consumer goods $1.78M
Raw materials & minerals $37K
Raw agricultural goods $32K
Machinery & equipment $5K
Miscellaneous $4K
Wood & paper products $4K

Balance of trade

Bulgaria Cambodia
Current account balance
-$2.01B
2024
$228M
2024
Current account balance ranking
142/189
2024
62/189
2024
Current account balance, % of GDP
-1.79%
2024
+0.49%
2024
Goods imports
$51.8B
2024
$31.2B
2024
Goods exports
$46B
2024
$26.8B
2024
Service imports
$8.2B
2024
$3.08B
2024
Service exports
$16.6B
2024
$4.97B
2024
Imports of goods and services, % of GDP
53.5%
2024
72.1%
2024
Exports of goods and services, % of GDP
55.8%
2024
71.4%
2024

Economic freedom indices

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

Bulgaria Cambodia
Economic freedom 68.8 58.2
Economic freedom ranking 43/197 108/197
Property rights 75.7 41.7
Government integrity 48.5 17.6
Judicial effectiveness 56.6 22.7
Tax burden 94.2 89.8
Government spending 56.7 88.8
Fiscal health 91.1 86.6
Business freedom 74.9 61
Labor freedom 68 47.2
Monetary freedom 70.8 74.1
Trade freedom 79.6 69.2
Investment freedom 60 50
Financial freedom 50 50

Economic freedom by year comparison

The Economic Freedom Index for Bulgaria is 68.8, ranking 43/197, compared to 58.2 for Cambodia, ranking 108/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Bulgaria
Cambodia
Year Economic freedom index
Bulgaria Cambodia
1995 50 -
1996 48.6 -
1997 47.6 52.8
1998 45.7 59.8
1999 46.2 59.9
2000 47.3 59.3
2001 51.9 59.6
2002 57.1 60.7
2003 57 63.7
2004 59.2 61.1
2005 62.3 60
2006 64.1 56.7
2007 62.7 55.9
2008 63.7 55.9
2009 64.6 56.6
2010 62.3 56.6
2011 64.9 57.9
2012 64.7 57.6
2013 65 58.5
2014 65.7 57.4
2015 66.8 57.5
2016 65.9 57.9
2017 67.9 59.5
2018 68.3 58.7
2019 69 57.8
2020 70.2 57.3
2021 70.4 57.3
2022 71 57.1
2023 69.3 56.5
2024 68.5 55.6
2025 68.8 58.2

More economic indicators

Bulgaria Cambodia
Services, % of GDP
62.6%
2024
35.6%
2024
Industry, % of GDP
22.5%
2024
41.8%
2024
Agriculture, forestry, and fishing, % of GDP
2.07%
2024
16.6%
2024
GNI, Atlas method
$98.7B
2024
$44.4B
2024
GNI per capita, PPP
$39,130
2024
$7,820
2024
Total reserves including gold
$43.7B
2024
$22.5B
2024
Total reserves ranking
47/177
2024
58/177
2024
Net foreign direct investment
-$2.47B
2024
-$4.22B
2024
Net inflows of foreign direct investment
$3.5B
2024
$4.39B
2024
Net outflows of foreign direct investment
$1.03B
2024
$172M
2024
Servicing debt to the IMF, % of GNI
n/a
5.94%
2023
Poverty at national poverty lines
21.7%
2023
17.7%
2012
Gross capital formation, % of GDP
20.4%
2024
32.2%
2024

GDP per capita map

GDP per capita

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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.