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Economy of Bulgaria vs East Timor compared: GDP & Debt

Updated on by Georank

Bulgaria has a GDP of $131B compared to $1.9B for East Timor, ranking 63/197 and 181/197 by economy size, respectively.

Bulgaria has $35.4B in government debt (27.1% of GDP), compared to $273M (14.3% of GDP) in East Timor.

Bulgaria vs East Timor GDP by year

Bulgaria
East Timor
1x
Year GDP, current $
Bulgaria East Timor
2025 $130,777,235,530 $1,902,180,258
2024 $113,349,149,167 $1,865,608,515
2023 $102,204,457,335 $2,079,767,200
2022 $90,510,784,778 $3,208,599,900
2021 $84,378,926,047 $3,625,024,300
2020 $70,490,478,088 $2,162,619,200
2019 $68,511,235,459 $2,032,550,400
2018 $66,100,606,677 $1,555,988,600
2017 $59,170,671,046 $1,584,878,400
2016 $53,932,152,154 $1,640,464,600
2015 $50,768,512,173 $1,590,282,400
2014 $57,083,817,240 $1,447,535,200
2013 $55,822,115,861 $1,395,727,400
2012 $54,299,825,600 $1,160,555,000
2011 $57,684,243,980 $1,042,534,600
2010 $50,691,645,231 $881,909,300
2009 $52,026,461,290 $726,937,800
2008 $54,483,464,293 $648,523,600
2007 $44,433,521,725 $542,795,400
2006 $34,382,295,487 $453,792,400
2005 $29,870,182,425 $462,268,000
2004 $26,159,078,743 $440,772,000
2003 $21,146,038,619 $490,439,100
2002 $16,403,880,783 $469,455,500
2001 $14,184,170,319 $477,359,300
2000 $13,246,669,554 $366,924,300
1999 $13,637,793,854 $225,357,600
1998 $15,031,821,788 $325,729,800
1997 $11,316,706,412 $319,972,700
1996 $12,295,588,924 $306,956,900
1995 $18,992,388,645 $262,819,900
1994 $9,709,230,161 $239,040,500
1993 $10,832,041,595 $216,914,400
1992 $8,602,874,120 $187,891,500
1991 $7,628,764,750 $147,713,000
1990 $20,726,605,649 $128,210,142
1989 $21,746,286,447 -
1988 $23,003,003,708 -
1987 $28,428,718,531 -
1986 $20,261,546,635 -
1985 $17,562,270,447 -
1984 $17,410,894,971 -
1983 $16,959,180,922 -
1982 $19,803,624,625 -
1981 $20,055,685,481 -
1980 $20,039,544,133 -

Data sources: World Bank | Economy & Growth (1980–2025, retrieved 2026-07-08).

GeoRank.org/economy/bulgaria/east-timor | CC BY

GDP per capita in Bulgaria vs East Timor by year

Bulgaria
GDP per capita

GDP per capita, PPP
East Timor
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bulgaria East Timor
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $20,328 - $1,341 -
2024 $17,597 $41,969 $1,332 $4,423
2023 $15,854 $38,829 $1,502 $4,807
2022 $14,000 $36,320 $2,343 $5,730
2021 $12,967 $30,959 $2,685 $6,825
2020 $10,761 $27,352 $1,631 $6,132
2019 $10,354 $26,766 $1,562 $4,557
2018 $9,850 $23,998 $1,219 $3,561
2017 $8,697 $22,317 $1,266 $3,463
2016 $7,823 $20,746 $1,336 $3,391
2015 $7,269 $18,896 $1,320 $3,108
2014 $8,070 $17,991 $1,225 $2,860
2013 $7,796 $16,894 $1,205 $2,566
2012 $7,432 $16,327 $1,023 $2,386
2011 $7,850 $15,747 $939 $2,066
2010 $6,854 $14,954 $813 $1,955
2009 $6,989 $14,188 $687 $1,810
2008 $7,272 $14,347 $628 $1,675
2007 $5,889 $12,822 $540 $1,516
2006 $4,523 $11,406 $465 $1,377
2005 $3,900 $10,291 $487 $1,435
2004 $3,390 $9,200 $474 $1,379
2003 $2,720 $8,416 $535 $1,355
2002 $2,093 $7,786 $534 $1,417
2001 $1,771 $6,960 $588 $1,619
2000 $1,621 $6,424 $492 $1,483
1999 $1,661 $5,808 $270 $819
1998 $1,821 $6,178 $346 $1,108
1997 $1,361 $5,751 $349 $1,149
1996 $1,470 $6,849 $344 $1,116
1995 $2,259 $7,743 $303 $1,043
1994 $1,150 $7,338 $283.1 $985
1993 $1,279 $7,032 $264.1 $925
1992 $1,007 $6,917 $235.1 $843
1991 $884 $7,215 $189.8 $766
1990 $2,377 $7,548 $168.6 $685
1989 $2,450 - - -
1988 $2,561 - - -
1987 $3,169 - - -
1986 $2,262 - - -
1985 $1,960 - - -
1984 $1,943 - - -
1983 $1,897 - - -
1982 $2,221 - - -
1981 $2,256 - - -
1980 $2,261 - - -

Data sources: World Bank | Economy & Growth (1980–2025, retrieved 2026-07-08).

GeoRank.org/economy/bulgaria/east-timor | CC BY

Bulgaria's GDP per capita is $20,328, ranking 58/197, compared to $1,341 in East Timor, ranking 168/197. Adjusted for purchasing power (GDP per capita PPP), Bulgaria ranks 54th at $41,969, while East Timor ranks 163rd at $4,423.

Economic indicators

Bulgaria East Timor
Gross domestic product
$131B
2025
$1.9B
2025
GDP rank
63/197
2025
181/197
2025
GDP growth
3.1%
2024-2025
6.98%
2024-2025
GDP per capita
$20,328
2025
$1,341
2025
GDP per capita rank
58/197
2025
168/197
2025
GDP per capita, PPP
$41,969
2024
$4,423
2024
GDP per capita PPP rank
54/197
2024
163/197
2024
Government debt
$35.4B
2025
$273M
2025
Debt-to-GDP ratio
27.1%
2025
14.3%
2025
Government debt per person
$5,507
2025
$192.3
2025
Government debt per person rank
79/185
2025
182/185
2025
Average annual personal income after taxes
$16,126
2026
$1,644
2026
Market capitalization of domestic companies
$11.2B
2025
n/a
Number of billionaires
2
2026
n/a
Income share by richest 10%
31.1%
2023
24%
2014
Income share by poorest 10%
2.1%
2023
4%
2014
Government expenditure, % of GDP
38.9%
2025
93.9%
2025
Consumer prices inflation
3.5%
2024-2025
0.5%
2024-2025
Central bank interest rate
1.81%
2025
n/a
Unemployment rate
3.5%
2025
1.54%
2022
Population
6390149
1446322

Spending and national debt comparison by year

Bulgaria
Spending

Debt
East Timor
Spending

Debt
1x
Year % of GDP
Bulgaria East Timor
Government spending Government debt Government spending Government debt
2025 38.9% 27.1% 93.9% 14.3%
2024 36.3% 23.8% 98% 14.4%
2023 37.5% 22.9% 78.6% 12.4%
2022 37.6% 22.5% 59.9% 7.9%
2021 38.5% 23.9% 45.7% 6.53%
2020 37.7% 22.7% 61.7% 10.1%
2019 36.1% 18.4% 68.8% 9.51%
2018 34.4% 20.1% 85.5% 9.31%
2017 32% 22.9% 87.3% 6.71%
2016 32.7% 27% 112.2% 4.71%
2015 37.3% 25.4% 98.1% 2.95%
2014 37.1% 26.3% 111% 1.52%
2013 35.5% 17.2% 96.1% 0.46%
2012 32.5% 16.5% 129.3% 0.002%
2011 32% 14.3% 133.3% 0%
2010 34.6% 14.1% 121.3% 0%
2009 33.8% 14.5% 121.8% 0%
2008 33.5% 14.7% 122.4% 0%
2007 33.1% 17.6% 75.8% 0%
2006 32.5% 22.6% 59.8% 0%
2005 34% 28.5% 58.3% 0%
2004 34.6% 37.8% 74.2% 0%
2003 35.8% 45.4% 80.1% 0%
2002 35.1% 53.4% 93.5% 0%
2001 36.5% 67.1% 95.7% 0%
2000 37.1% 73.3% - -
1999 36.2% 78.7% - -
1998 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 (1998–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1995–1997, retrieved 2026-07-08).

GeoRank.org/economy/bulgaria/east-timor | CC BY

In 2025, Bulgaria's government spending was $50.8B, accounting for 38.9% of its GDP, while East Timor spent $1.79B, or 93.9% of GDP.

Debt-to-GDP ratio is 27.1% in Bulgaria and 14.3% in East Timor, ranking 164/185 and 178/185, respectively.

Government deficit by year

Deficit/surplus
Bulgaria

East Timor
1x
Year Deficit/surplus, % of GDP
Bulgaria East Timor
2025 -3.01% -48%
2024 -3.01% -47%
2023 -3.04% -34.7%
2022 -0.8% -29.5%
2021 -2.8% -20.1%
2020 -2.92% -18.9%
2019 -0.96% -25.4%
2018 0.12% -26.9%
2017 0.82% -33.8%
2016 1.54% -55.7%
2015 -2.77% -33.2%
2014 -3.65% -37.5%
2013 -1.75% -14.4%
2012 -0.43% -38.7%
2011 -1.83% -25.4%
2010 -3.77% -19.8%
2009 -0.86% -17.2%
2008 2.73% -18.6%
2007 3.09% -29.9%
2006 3.22% 41%
2005 2.19% -10.5%
2004 1.59% -7.48%
2003 0.003% -8.24%
2002 -0.61% -7.64%
2001 -0.58% 3.24%
2000 -0.6% -
1999 0.15% -
1998 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 (1998–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1924–1997, retrieved 2026-07-08).

GeoRank.org/economy/bulgaria/east-timor | 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 East Timor's deficit of $914M, or 48% of GDP.

Over the past 25 years, Bulgaria recorded a fiscal deficit in 16 of those years, while East Timor ran a deficit in 23 years. On average, Bulgaria posted an annual deficit equal to 0.7% of GDP, compared to deficit of 22.6% of GDP for East Timor.

Inflation comparison by year

Inflation
Bulgaria

East Timor
1x
Year Consumer prices inflation
Bulgaria East Timor
2025 3.5% 0.5%
2024 2.6% 2.1%
2023 8.6% 8.4%
2022 13% 7%
2021 2.8% 3.8%
2020 1.2% 0.5%
2019 2.5% 0.9%
2018 2.6% 2.3%
2017 1.2% 0.5%
2016 -1.3% -1.5%
2015 -1.1% 0.6%
2014 -1.6% 0.8%
2013 0.4% 9.5%
2012 2.4% 10.9%
2011 3.4% 13.2%
2010 3% 5.2%
2009 2.5% -0.2%
2008 12% 7.4%
2007 7.6% 8.6%
2006 7.4% 5.2%
2005 6% 1.6%
2004 6.1% 2.2%
2003 2.3% 8%
2002 5.8% 4.1%
2001 7.4% 3.6%
2000 10.3% -
1999 2.6% -
1998 18.7% -
1997 1,061% -

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

GeoRank.org/economy/bulgaria/east-timor | CC BY

Over the past 25 years, Bulgaria has recorded an average annual inflation rate of 4.01%, compared with 4.21% in East Timor. In 2025, inflation was 3.5% in Bulgaria and 0.5% in East Timor.

Top exports between countries

Bulgaria
Export category Export value
Machinery & equipment $85K
Processed food, beverages & tobacco $54K
Chemicals & pharma $43K
Textiles & consumer goods $21K
East Timor
Export category Export value
Machinery & equipment $9K
Textiles & consumer goods $7K

Balance of trade

Bulgaria East Timor
Current account balance
-$7.64B
2025
-$701M
2025
Current account balance ranking
170/190
2025
109/190
2025
Current account balance, % of GDP
-5.84%
2025
-36.9%
2025
Goods imports
$58.5B
2025
$842M
2025
Goods exports
$47.9B
2025
$126M
2025
Service imports
$9.42B
2025
$475M
2025
Service exports
$18.6B
2025
$147M
2025
Imports of goods and services, % of GDP
51.8%
2025
84.9%
2024
Exports of goods and services, % of GDP
50.7%
2025
10.6%
2024

Economic freedom indices

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

Bulgaria East Timor
Economic freedom 68.9 47.9
Economic freedom ranking 44/197 173/197
Property rights 75.8 43.5
Government integrity 48.4 43.9
Judicial effectiveness 58.5 34.5
Tax burden 89.1 97.1
Government spending 58.4 0
Fiscal health 90.4 19.6
Business freedom 78.2 62.7
Labor freedom 62.4 56.5
Monetary freedom 75.8 72.2
Trade freedom 79.4 79.8
Investment freedom 60 45
Financial freedom 50 20

Economic freedom comparison by year

Bulgaria
East Timor
1x
Year Economic freedom index
Bulgaria East Timor
2026 68.9 47.9
2025 68.8 47.9
2024 68.5 50.2
2023 69.3 47.2
2022 71 46.3
2021 70.4 44.7
2020 70.2 45.9
2019 69 44.2
2018 68.3 48.1
2017 67.9 46.3
2016 65.9 45.8
2015 66.8 45.5
2014 65.7 43.2
2013 65 43.7
2012 64.7 43.3
2011 64.9 42.8
2010 62.3 45.8
2009 64.6 50.5
2008 63.7 -
2007 62.7 -
2006 64.1 -
2005 62.3 -
2004 59.2 -
2003 57 -
2002 57.1 -
2001 51.9 -
2000 47.3 -
1999 46.2 -
1998 45.7 -
1997 47.6 -
1996 48.6 -
1995 50 -

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

GeoRank.org/economy/bulgaria/east-timor | CC BY

The Economic Freedom Index for Bulgaria is 68.9, ranking 44/197, compared to 47.9 for East Timor, ranking 173/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bulgaria East Timor
Services, % of GDP
63.3%
2025
71.6%
2024
Industry, % of GDP
21.2%
2025
11.8%
2024
Agriculture, forestry, and fishing, % of GDP
2.47%
2025
20.2%
2024
GNI, Atlas method
$114B
2025
$2.14B
2025
GNI per capita, PPP
$42,170
2025
$5,120
2025
Total reserves including gold
$47.1B
2025
$851M
2025
Total reserves ranking
51/177
2025
145/177
2025
Net foreign direct investment
-$3.37B
2025
-$253M
2025
Net inflows of foreign direct investment
$3.05B
2024
$225M
2024
Net outflows of foreign direct investment
$1.21B
2024
$4.5M
2024
Servicing debt to the IMF, % of GNI
6.8%
2024
1.23%
2024
Poverty at national poverty lines
21.7%
2023
41.8%
2014
Gross capital formation, % of GDP
21.7%
2025
30.1%
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/east-timor | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1980–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1998–2025, 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 (2023–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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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.