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Economy of Bulgaria vs China compared: GDP & Debt

Updated on by Georank

Bulgaria has a GDP of $131B compared to $19.5T for China, ranking 63/197 and 2/197 by economy size, respectively.

Bulgaria has $35.4B in government debt (27.1% of GDP), compared to $19.3T (99.2% of GDP) in China.

Bulgaria vs China GDP by year

Bulgaria
China
1x
Year GDP, current $
Bulgaria China
2025 $130,777,235,530 $19,498,039,388,043
2024 $113,349,149,167 $18,729,668,435,848
2023 $102,204,457,335 $18,270,356,654,533
2022 $90,510,784,778 $18,316,765,021,690
2021 $84,378,926,047 $18,201,698,719,564
2020 $70,490,478,088 $14,996,414,166,715
2019 $68,511,235,459 $14,560,167,101,283
2018 $66,100,606,677 $14,147,765,772,964
2017 $59,170,671,046 $12,537,559,062,283
2016 $53,932,152,154 $11,456,024,084,962
2015 $50,768,512,173 $11,280,814,787,469
2014 $57,083,817,240 $10,674,533,168,257
2013 $55,822,115,861 $9,743,124,247,267
2012 $54,299,825,600 $8,673,664,713,189
2011 $57,684,243,980 $7,671,757,207,851
2010 $50,691,645,231 $6,192,564,874,453
2009 $52,026,461,290 $5,189,577,094,998
2008 $54,483,464,293 $4,667,346,414,522
2007 $44,433,521,725 $3,604,055,822,572
2006 $34,382,295,487 $2,791,498,472,804
2005 $29,870,182,425 $2,317,551,298,052
2004 $26,159,078,743 $1,984,196,551,300
2003 $21,146,038,619 $1,683,903,309,844
2002 $16,403,880,783 $1,489,821,682,051
2001 $14,184,170,319 $1,355,036,590,252
2000 $13,246,669,554 $1,223,754,919,971
1999 $13,637,793,854 $1,103,843,203,576
1998 $15,031,821,788 $1,037,134,141,760
1997 $11,316,706,412 $967,753,570,435
1996 $12,295,588,924 $868,523,936,530
1995 $18,992,388,645 $738,190,896,228
1994 $9,709,230,161 $566,929,539,493
1993 $10,832,041,595 $446,557,291,212
1992 $8,602,874,120 $428,502,354,788
1991 $7,628,764,750 $384,510,452,962
1990 $20,726,605,649 $361,560,229,446
1989 $21,746,286,447 $348,380,566,802
1988 $23,003,003,708 $312,888,888,889
1987 $28,428,718,531 $273,455,156,951
1986 $20,261,546,635 $301,310,144,928
1985 $17,562,270,447 $310,064,625,850
1984 $17,410,894,971 $260,442,857,143
1983 $16,959,180,922 $231,130,268,199
1982 $19,803,624,625 $205,480,916,031
1981 $20,055,685,481 $196,218,253,968
1980 $20,039,544,133 $191,487,500,000
1979 - $178,573,913,043
1978 - $149,788,617,886
1977 - $175,226,595,860
1976 - $154,196,810,059
1975 - $163,687,619,736
1974 - $144,418,433,058
1973 - $138,764,340,892
1972 - $113,871,930,714
1971 - $99,959,013,880
1970 - $92,752,930,873
1969 - $79,847,786,729
1968 - $70,980,323,819
1967 - $73,011,350,596
1966 - $76,854,053,259
1965 - $70,565,994,356
1964 - $59,821,862,703
1963 - $50,812,227,919
1962 - $47,310,737,754
1961 - $50,162,299,350
1960 - $59,846,235,025

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

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

GDP per capita in Bulgaria vs China by year

Bulgaria
GDP per capita

GDP per capita, PPP
China
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bulgaria China
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $20,328 - $13,862 -
2024 $17,597 $41,969 $13,293 $27,105
2023 $15,854 $38,829 $12,951 $25,179
2022 $14,000 $36,320 $12,971 $23,032
2021 $12,967 $30,959 $12,887 $20,843
2020 $10,761 $27,352 $10,627 $18,267
2019 $10,354 $26,766 $10,343 $17,601
2018 $9,850 $23,998 $10,086 $16,298
2017 $8,697 $22,317 $8,980 $15,022
2016 $7,823 $20,746 $8,255 $14,157
2015 $7,269 $18,896 $8,175 $13,463
2014 $8,070 $17,991 $7,781 $12,942
2013 $7,796 $16,894 $7,147 $12,228
2012 $7,432 $16,327 $6,405 $11,420
2011 $7,850 $15,747 $5,704 $10,457
2010 $6,854 $14,954 $4,629 $9,411
2009 $6,989 $14,188 $3,898 $8,448
2008 $7,272 $14,347 $3,523 $7,713
2007 $5,889 $12,822 $2,735 $6,935
2006 $4,523 $11,406 $2,129 $5,946
2005 $3,900 $10,291 $1,778 $5,148
2004 $3,390 $9,200 $1,531 $4,505
2003 $2,720 $8,416 $1,307 $4,007
2002 $2,093 $7,786 $1,164 $3,591
2001 $1,771 $6,960 $1,065 $3,258
2000 $1,621 $6,424 $969 $2,964
1999 $1,661 $5,808 $881 $2,690
1998 $1,821 $6,178 $835 $2,483
1997 $1,361 $5,751 $787 $2,297
1996 $1,470 $6,849 $713 $2,088
1995 $2,259 $7,743 $613 $1,884
1994 $1,150 $7,338 $476 $1,680
1993 $1,279 $7,032 $379 $1,471
1992 $1,007 $6,917 $368 $1,276
1991 $884 $7,215 $334 $1,105
1990 $2,377 $7,548 $319 $991
1989 $2,450 - $311 -
1988 $2,561 - $284 -
1987 $3,169 - $252.3 -
1986 $2,262 - $282.4 -
1985 $1,960 - $295 -
1984 $1,943 - $251.2 -
1983 $1,897 - $225.9 -
1982 $2,221 - $203.7 -
1981 $2,256 - $197.4 -
1980 $2,261 - $195.1 -
1979 - - $184.3 -
1978 - - $156.7 -
1977 - - $185.7 -
1976 - - $165.7 -
1975 - - $178.6 -
1974 - - $160.4 -
1973 - - $157.3 -
1972 - - $132.1 -
1971 - - $118.8 -
1970 - - $113.3 -
1969 - - $100.3 -
1968 - - $91.6 -
1967 - - $96.8 -
1966 - - $104.5 -
1965 - - $98.7 -
1964 - - $85.7 -
1963 - - $74.5 -
1962 - - $71.1 -
1961 - - $76 -
1960 - - $89.7 -

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

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

Bulgaria's GDP per capita is $20,328, ranking 58/197, compared to $13,862 in China, ranking 77/197. Adjusted for purchasing power (GDP per capita PPP), Bulgaria ranks 54th at $41,969, while China ranks 77th at $27,105.

Economic indicators

Bulgaria China
Gross domestic product
$131B
2025
$19.5T
2025
GDP rank
63/197
2025
2/197
2025
GDP growth
3.1%
2024-2025
4.96%
2024-2025
GDP per capita
$20,328
2025
$13,862
2025
GDP per capita rank
58/197
2025
77/197
2025
GDP per capita, PPP
$41,969
2024
$27,105
2024
GDP per capita PPP rank
54/197
2024
77/197
2024
Government debt
$35.4B
2025
$19.3T
2025
Debt-to-GDP ratio
27.1%
2025
99.2%
2025
Government debt per person
$5,507
2025
$13,756
2025
Government debt per person rank
79/185
2025
47/185
2025
Average annual personal income after taxes
$16,126
2026
$10,414
2026
Market capitalization of domestic companies
$11.2B
2025
$15.5T
2025
Number of millionaires n/a
5,305,000
2026
Number of billionaires
2
2026
539
2026
Income share by richest 10%
31.1%
2023
28.4%
2022
Income share by poorest 10%
2.1%
2023
3.1%
2022
Government expenditure, % of GDP
38.9%
2025
32.9%
2025
Consumer prices inflation
3.5%
2024-2025
0%
2024-2025
Central bank interest rate
1.81%
2025
3%
2025
Unemployment rate
3.5%
2025
4.57%
2022
Population
6390149
1403335670

Spending and national debt comparison by year

Bulgaria
Spending

Debt
China
Spending

Debt
1x
Year % of GDP
Bulgaria China
Government spending Government debt Government spending Government debt
2025 38.9% 27.1% 32.9% 99.2%
2024 36.3% 23.8% 32.9% 90.4%
2023 37.5% 22.9% 32.7% 84.1%
2022 37.6% 22.5% 32.6% 77.3%
2021 38.5% 23.9% 31.9% 72.1%
2020 37.7% 22.7% 34.8% 70.1%
2019 36.1% 18.4% 33.6% 59.8%
2018 34.4% 20.1% 32.6% 55.9%
2017 32% 22.9% 32% 53.9%
2016 32.7% 27% 31.7% 50%
2015 37.3% 25.4% 31% 40.8%
2014 37.1% 26.3% 28.4% 39.3%
2013 35.5% 17.2% 28.1% 36.4%
2012 32.5% 16.5% 27.7% 33.8%
2011 32% 14.3% 26.6% 33.2%
2010 34.6% 14.1% 24.7% 33.3%
2009 33.8% 14.5% 25.2% 34%
2008 33.5% 14.7% 22.2% 26.7%
2007 33.1% 17.6% 17.9% 28.7%
2006 32.5% 22.6% 18.1% 25.2%
2005 34% 28.5% 18% 25.9%
2004 34.6% 37.8% 17.6% 26%
2003 35.8% 45.4% 18% 26.4%
2002 35.1% 53.4% 18.2% 25.6%
2001 36.5% 67.1% 17.2% 24.3%
2000 37.1% 73.3% 16.1% 22.7%
1999 36.2% 78.7% 14.9% 21.6%
1998 30.6% 67.3% 12.6% 20.4%
1997 32.9% 88.4% 11.5% 20.4%
1996 44% 113.8% 11% 21.2%
1995 45.4% 72% 11.1% 21.4%
1994 - - 12.4% -
1993 - - 13.4% -
1992 - - 14.6% -
1991 - - 16.5% -
1990 - - 18.2% -
1989 - - 18.6% -
1988 - - 20.9% 4.46%
1987 - - 23.4% 3.6%
1986 - - 25.6% 3.24%
1985 - - 25.8% 3.31%
1984 - - 26.9% 0.97%
1983 - - 28.3% -
1982 - - 27.9% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1997, retrieved 2026-07-08).

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

In 2025, Bulgaria's government spending was $50.8B, accounting for 38.9% of its GDP, while China spent $6.41T, or 32.9% of GDP.

Debt-to-GDP ratio is 27.1% in Bulgaria and 99.2% in China, ranking 164/185 and 26/185, respectively.

Government deficit by year

Deficit/surplus
Bulgaria

China
1x
Year Deficit/surplus, % of GDP
Bulgaria China
2025 -3.01% -7.87%
2024 -3.01% -7.11%
2023 -3.04% -6.71%
2022 -0.8% -7.32%
2021 -2.8% -5.9%
2020 -2.92% -9.56%
2019 -0.96% -6%
2018 0.12% -4.2%
2017 0.82% -3.34%
2016 1.54% -3.33%
2015 -2.77% -2.5%
2014 -3.65% -0.67%
2013 -1.75% -0.82%
2012 -0.43% -0.3%
2011 -1.83% -0.1%
2010 -3.77% -0.36%
2009 -0.86% -1.72%
2008 2.73% -0.02%
2007 3.09% 0.06%
2006 3.22% -1.13%
2005 2.19% -1.38%
2004 1.59% -1.49%
2003 0.003% -2.36%
2002 -0.61% -2.84%
2001 -0.58% -2.56%
2000 -0.6% -2.81%
1999 0.15% -2.3%
1998 1.08% -1.08%
1997 0.83% -0.73%
1996 -10.1% -0.73%
1995 -7.98% -0.94%
1994 - -1.68%
1993 - -0.89%
1992 - -1.22%
1991 - -1.04%
1990 - -0.72%
1989 - -0.91%
1988 - -2.22%
1987 - -2.08%
1986 - -1.82%
1985 - -0.45%
1984 - -1.44%
1983 - -1.61%
1982 - -1.33%
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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1924–1997, retrieved 2026-07-08).

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

In 2025, Bulgaria's government deficit, the difference between spending and revenue, was $3.94B, equivalent to 3.01% of GDP. This compares to China's deficit of $1.53T, or 7.87% of GDP.

Over the past 31 years, Bulgaria recorded a fiscal deficit in 19 of those years, while China ran a deficit in 30 years. On average, Bulgaria posted an annual deficit equal to 1.1% of GDP, compared to deficit of 2.84% of GDP for China.

Inflation comparison by year

Inflation
Bulgaria

China
1x
Year Consumer prices inflation
Bulgaria China
2025 3.5% 0%
2024 2.6% 0.2%
2023 8.6% 0.2%
2022 13% 2%
2021 2.8% 0.9%
2020 1.2% 2.5%
2019 2.5% 2.9%
2018 2.6% 2.1%
2017 1.2% 1.6%
2016 -1.3% 2%
2015 -1.1% 1.4%
2014 -1.6% 2%
2013 0.4% 2.6%
2012 2.4% 2.6%
2011 3.4% 5.4%
2010 3% 3.3%
2009 2.5% -0.7%
2008 12% 5.8%
2007 7.6% 4.8%
2006 7.4% 1.5%
2005 6% 1.8%
2004 6.1% 3.9%
2003 2.3% 1.2%
2002 5.8% -0.8%
2001 7.4% 0.7%
2000 10.3% 0.4%
1999 2.6% -1.4%
1998 18.7% -0.8%
1997 1,061% 2.8%

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

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

Over the past 29 years, Bulgaria has recorded an average annual inflation rate of 41.1%, compared with 1.76% in China. In 2025, inflation was 3.5% in Bulgaria and 0% in China.

Top exports between countries

Bulgaria
Export category Export value
Raw materials & minerals $505M
Machinery & equipment $155M
Processed food, beverages & tobacco $43.8M
Chemicals & pharma $38.3M
Metals $38.2M
Textiles & consumer goods $21.3M
Raw agricultural goods $21.3M
Transport & tourism services $16.7M
IT & IP services $13.6M
Business & finance services $4.44M
China
Export category Export value
Machinery & equipment $2.95B
Textiles & consumer goods $548M
Chemicals & pharma $258M
Metals $206M
Miscellaneous $135M
Raw agricultural goods $74.7M
Raw materials & minerals $54.8M
Wood & paper products $52.4M
Processed food, beverages & tobacco $44.1M
Precious metals & jewellery $12.7M

Balance of trade

Bulgaria China
Current account balance
-$7.64B
2025
$735B
2025
Current account balance ranking
170/190
2025
1/190
2025
Current account balance, % of GDP
-5.84%
2025
+3.77%
2025
Goods imports
$58.5B
2025
$2.69T
2025
Goods exports
$47.9B
2025
$3.75T
2025
Service imports
$9.42B
2025
$623B
2025
Service exports
$18.6B
2025
$385B
2025
Imports of goods and services, % of GDP
51.8%
2025
16.9%
2025
Exports of goods and services, % of GDP
50.7%
2025
21.1%
2025

Economic freedom indices

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

Bulgaria China
Economic freedom 68.9 48.3
Economic freedom ranking 44/197 170/197
Property rights 75.8 40.9
Government integrity 48.4 42.3
Judicial effectiveness 58.5 38.6
Tax burden 89.1 69.3
Government spending 58.4 67.8
Fiscal health 90.4 4.4
Business freedom 78.2 68.7
Labor freedom 62.4 57.9
Monetary freedom 75.8 76.1
Trade freedom 79.4 73.4
Investment freedom 60 20
Financial freedom 50 20

Economic freedom comparison by year

Bulgaria
China
1x
Year Economic freedom index
Bulgaria China
2026 68.9 48.3
2025 68.8 49
2024 68.5 48.5
2023 69.3 48.3
2022 71 48
2021 70.4 58.4
2020 70.2 59.5
2019 69 58.4
2018 68.3 57.8
2017 67.9 57.4
2016 65.9 52
2015 66.8 52.7
2014 65.7 52.5
2013 65 51.9
2012 64.7 51.2
2011 64.9 52
2010 62.3 51
2009 64.6 53.2
2008 63.7 53.1
2007 62.7 52
2006 64.1 53.6
2005 62.3 53.7
2004 59.2 52.5
2003 57 52.6
2002 57.1 52.8
2001 51.9 52.6
2000 47.3 56.4
1999 46.2 54.8
1998 45.7 53.1
1997 47.6 51.7
1996 48.6 51.3
1995 50 52

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

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

The Economic Freedom Index for Bulgaria is 68.9, ranking 44/197, compared to 48.3 for China, ranking 170/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bulgaria China
Services, % of GDP
63.3%
2025
57.7%
2025
Industry, % of GDP
21.2%
2025
35.6%
2025
Agriculture, forestry, and fishing, % of GDP
2.47%
2025
6.66%
2025
GNI, Atlas method
$114B
2025
$20T
2025
GNI per capita, PPP
$42,170
2025
$29,160
2025
Total reserves including gold
$47.1B
2025
$3.75T
2025
Total reserves ranking
51/177
2025
1/177
2025
Net foreign direct investment
-$3.37B
2025
$77.2B
2025
Net inflows of foreign direct investment
$3.05B
2024
$42.6B
2024
Net outflows of foreign direct investment
$1.21B
2024
$192B
2024
Servicing debt to the IMF, % of GNI
6.8%
2024
1.9%
2024
Poverty at national poverty lines
21.7%
2023
0%
2020
Gross capital formation, % of GDP
21.7%
2025
40.5%
2024

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/bulgaria/china | 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 (1990–2025, 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 (2024–2025, 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.