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Economy of Bulgaria vs Ecuador compared: GDP & Debt

Updated on by Georank

Bulgaria has a GDP of $131B compared to $130B for Ecuador, ranking 63/197 and 64/197 by economy size, respectively.

Bulgaria has $35.4B in government debt (27.1% of GDP), compared to $70.9B (54.4% of GDP) in Ecuador.

Bulgaria vs Ecuador GDP by year

Bulgaria
Ecuador
1x
Year GDP, current $
Bulgaria Ecuador
2025 $130,777,235,530 $130,320,560,400
2024 $113,349,149,167 $123,802,374,000
2023 $102,204,457,335 $120,792,801,000
2022 $90,510,784,778 $116,133,121,000
2021 $84,378,926,047 $107,179,074,000
2020 $70,490,478,088 $95,865,473,000
2019 $68,511,235,459 $107,595,830,000
2018 $66,100,606,677 $107,478,961,000
2017 $59,170,671,046 $104,467,486,000
2016 $53,932,152,154 $97,671,433,000
2015 $50,768,512,173 $97,209,558,000
2014 $57,083,817,240 $102,717,794,000
2013 $55,822,115,861 $96,570,334,000
2012 $54,299,825,600 $87,735,048,000
2011 $57,684,243,980 $78,986,648,000
2010 $50,691,645,231 $68,151,329,000
2009 $52,026,461,290 $60,094,978,000
2008 $54,483,464,293 $61,139,438,000
2007 $44,433,521,725 $49,848,725,000
2006 $34,382,295,487 $45,690,762,000
2005 $29,870,182,425 $40,278,849,000
2004 $26,159,078,743 $35,194,947,000
2003 $21,146,038,619 $30,965,208,000
2002 $16,403,880,783 $27,054,197,000
2001 $14,184,170,319 $23,127,055,000
2000 $13,246,669,554 $17,539,454,727
1999 $13,637,793,854 $19,645,272,636
1998 $15,031,821,788 $27,981,896,948
1997 $11,316,706,412 $28,162,053,027
1996 $12,295,588,924 $25,226,393,197
1995 $18,992,388,645 $24,432,884,442
1994 $9,709,230,161 $22,708,673,337
1993 $10,832,041,595 $18,938,717,359
1992 $8,602,874,120 $18,094,238,119
1991 $7,628,764,750 $16,988,535,268
1990 $20,726,605,649 $15,239,272,612
1989 $21,746,286,447 $13,890,823,705
1988 $23,003,003,708 $13,051,881,851
1987 $28,428,718,531 $13,945,426,859
1986 $20,261,546,635 $15,314,138,472
1985 $17,562,270,447 $17,149,088,413
1984 $17,410,894,971 $16,912,509,092
1983 $16,959,180,922 $17,152,477,037
1982 $19,803,624,625 $19,929,846,396
1981 $20,055,685,481 $21,810,759,354
1980 $20,039,544,133 $17,881,508,242
1979 - $14,175,160,902
1978 - $11,922,497,876
1977 - $11,026,342,618
1976 - $9,091,921,030
1975 - $7,731,674,472
1974 - $6,599,257,044
1973 - $3,891,754,150
1972 - $3,185,986,087
1971 - $2,754,219,271
1970 - $2,862,503,139
1969 - $3,112,165,727
1968 - $2,582,179,864
1967 - $2,553,595,172
1966 - $2,429,308,639
1965 - $2,387,047,396
1964 - $2,244,146,103
1963 - $1,824,343,871
1962 - $1,518,207,703
1961 - $1,753,850,955
1960 - $2,069,464,937

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

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

GDP per capita in Bulgaria vs Ecuador by year

Bulgaria
GDP per capita

GDP per capita, PPP
Ecuador
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bulgaria Ecuador
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $20,328 - $7,125 -
2024 $17,597 $41,969 $6,827 $15,840
2023 $15,854 $38,829 $6,718 $15,919
2022 $14,000 $36,320 $6,516 $15,198
2021 $12,967 $30,959 $6,061 $13,507
2020 $10,761 $27,352 $5,464 $11,527
2019 $10,354 $26,766 $6,205 $12,543
2018 $9,850 $23,998 $6,304 $12,187
2017 $8,697 $22,317 $6,233 $11,793
2016 $7,823 $20,746 $5,918 $10,881
2015 $7,269 $18,896 $5,976 $10,878
2014 $8,070 $17,991 $6,406 $11,836
2013 $7,796 $16,894 $6,109 $11,296
2012 $7,432 $16,327 $5,634 $10,245
2011 $7,850 $15,747 $5,154 $9,769
2010 $6,854 $14,954 $4,520 $8,969
2009 $6,989 $14,188 $4,053 $8,662
2008 $7,272 $14,347 $4,195 $8,663
2007 $5,889 $12,822 $3,479 $8,112
2006 $4,523 $11,406 $3,244 $7,885
2005 $3,900 $10,291 $2,909 $7,457
2004 $3,390 $9,200 $2,586 $6,980
2003 $2,720 $8,416 $2,316 $6,475
2002 $2,093 $7,786 $2,059 $6,282
2001 $1,771 $6,960 $1,791 $5,999
2000 $1,621 $6,424 $1,382 $5,728
1999 $1,661 $5,808 $1,575 $5,638
1998 $1,821 $6,178 $2,284 $5,940
1997 $1,361 $5,751 $2,341 $5,793
1996 $1,470 $6,849 $2,136 $5,560
1995 $2,259 $7,743 $2,108 $5,469
1994 $1,150 $7,338 $1,997 $5,339
1993 $1,279 $7,032 $1,698 $5,112
1992 $1,007 $6,917 $1,655 $4,998
1991 $884 $7,215 $1,587 $4,887
1990 $2,377 $7,548 $1,455 $4,632
1989 $2,450 - $1,356 -
1988 $2,561 - $1,304 -
1987 $3,169 - $1,426 -
1986 $2,262 - $1,604 -
1985 $1,960 - $1,842 -
1984 $1,943 - $1,864 -
1983 $1,897 - $1,940 -
1982 $2,221 - $2,314 -
1981 $2,256 - $2,601 -
1980 $2,261 - $2,190 -
1979 - - $1,783 -
1978 - - $1,541 -
1977 - - $1,465 -
1976 - - $1,242 -
1975 - - $1,086 -
1974 - - $954 -
1973 - - $579 -
1972 - - $488 -
1971 - - $434 -
1970 - - $465 -
1969 - - $521 -
1968 - - $445 -
1967 - - $454 -
1966 - - $445 -
1965 - - $450 -
1964 - - $436 -
1963 - - $365 -
1962 - - $312 -
1961 - - $371 -
1960 - - $451 -

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

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

Bulgaria's GDP per capita is $20,328, ranking 58/197, compared to $7,125 in Ecuador, ranking 102/197. Adjusted for purchasing power (GDP per capita PPP), Bulgaria ranks 54th at $41,969, while Ecuador ranks 110th at $15,840.

Economic indicators

Bulgaria Ecuador
Gross domestic product
$131B
2025
$130B
2025
GDP rank
63/197
2025
64/197
2025
GDP growth
3.1%
2024-2025
3.73%
2024-2025
GDP per capita
$20,328
2025
$7,125
2025
GDP per capita rank
58/197
2025
102/197
2025
GDP per capita, PPP
$41,969
2024
$15,840
2024
GDP per capita PPP rank
54/197
2024
110/197
2024
Government debt
$35.4B
2025
$70.9B
2025
Debt-to-GDP ratio
27.1%
2025
54.4%
2025
Government debt per person
$5,507
2025
$3,877
2025
Government debt per person rank
79/185
2025
94/185
2025
Average annual personal income after taxes
$16,126
2026
$6,605
2026
Market capitalization of domestic companies
$11.2B
2025
$747M
2000
Number of billionaires
2
2026
n/a
Income share by richest 10%
31.1%
2023
35.1%
2025
Income share by poorest 10%
2.1%
2023
1.7%
2025
Government expenditure, % of GDP
38.9%
2025
38.4%
2025
Consumer prices inflation
3.5%
2024-2025
0.71%
2024-2025
Central bank interest rate
1.81%
2025
n/a
Unemployment rate
3.5%
2025
3.23%
2025
Population
6390149
18524711

Spending and national debt comparison by year

Bulgaria
Spending

Debt
Ecuador
Spending

Debt
1x
Year % of GDP
Bulgaria Ecuador
Government spending Government debt Government spending Government debt
2025 38.9% 27.1% 38.4% 54.4%
2024 36.3% 23.8% 38.3% 54.1%
2023 37.5% 22.9% 39.6% 54.5%
2022 37.6% 22.5% 38.9% 57.2%
2021 38.5% 23.9% 37.5% 61.8%
2020 37.7% 22.7% 40.2% 63.6%
2019 36.1% 18.4% 39.8% 52.1%
2018 34.4% 20.1% 40.9% 49.5%
2017 32% 22.9% 40.5% 47.4%
2016 32.7% 27% 44.1% 46.1%
2015 37.3% 25.4% 44.1% 36.4%
2014 37.1% 26.3% 45.9% 28.2%
2013 35.5% 17.2% 46.7% 23.4%
2012 32.5% 16.5% 43.2% 19.3%
2011 32% 14.3% 39.6% 18.6%
2010 34.6% 14.1% 35.4% 18.4%
2009 33.8% 14.5% 34.3% 19.7%
2008 33.5% 14.7% 35.6% 24.9%
2007 33.1% 17.6% 24.7% 29.6%
2006 32.5% 22.6% 21.7% 33.1%
2005 34% 28.5% 22% 35.8%
2004 34.6% 37.8% 21.3% 40.2%
2003 35.8% 45.4% 21.3% 47.2%
2002 35.1% 53.4% 22.8% 55%
2001 36.5% 67.1% 21.4% 63.8%
2000 37.1% 73.3% 24.3% 92.2%
1999 36.2% 78.7% 24.1% 105.2%
1998 30.6% 67.3% 21.5% 70.3%
1997 32.9% 88.4% 22% 61.5%
1996 44% 113.8% 22.7% 69.3%
1995 45.4% 72% 22% 70.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1995–2000, retrieved 2026-07-08).

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

In 2025, Bulgaria's government spending was $50.8B, accounting for 38.9% of its GDP, while Ecuador spent $50B, or 38.4% of GDP.

Debt-to-GDP ratio is 27.1% in Bulgaria and 54.4% in Ecuador, ranking 164/185 and 92/185, respectively.

Government deficit by year

Deficit/surplus
Bulgaria

Ecuador
1x
Year Deficit/surplus, % of GDP
Bulgaria Ecuador
2025 -3.01% -2.88%
2024 -3.01% -1.28%
2023 -3.04% -3.49%
2022 -0.8% 0.04%
2021 -2.8% -1.59%
2020 -2.92% -7.38%
2019 -0.96% -3.47%
2018 0.12% -2.8%
2017 0.82% -5.77%
2016 1.54% -10.3%
2015 -2.77% -6.87%
2014 -3.65% -8.11%
2013 -1.75% -8.17%
2012 -0.43% -2.83%
2011 -1.83% -0.13%
2010 -3.77% -1.39%
2009 -0.86% -3.71%
2008 2.73% 0.57%
2007 3.09% 2.66%
2006 3.22% 2.92%
2005 2.19% 0.66%
2004 1.59% 1.94%
2003 0.003% 1.05%
2002 -0.61% 0.74%
2001 -0.58% 0.03%
2000 -0.6% -0.32%
1999 0.15% -4.82%
1998 1.08% -5.1%
1997 0.83% -2.83%
1996 -10.1% -3.44%
1995 -7.98% -2.02%
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 (1995–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1924–1997, retrieved 2026-07-08).

GeoRank.org/economy/bulgaria/ecuador | 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 Ecuador's deficit of $3.76B, or 2.88% of GDP.

Over the past 31 years, Bulgaria recorded a fiscal deficit in 19 of those years, while Ecuador ran a deficit in 22 years. On average, Bulgaria posted an annual deficit equal to 1.1% of GDP, compared to deficit of 2.52% of GDP for Ecuador.

Inflation comparison by year

Inflation
Bulgaria

Ecuador
1x
Year Consumer prices inflation
Bulgaria Ecuador
2025 3.5% 0.71%
2024 2.6% 1.55%
2023 8.6% 2.22%
2022 13% 3.47%
2021 2.8% 0.13%
2020 1.2% -0.34%
2019 2.5% 0.27%
2018 2.6% -0.22%
2017 1.2% 0.42%
2016 -1.3% 1.73%
2015 -1.1% 3.97%
2014 -1.6% 3.59%
2013 0.4% 2.72%
2012 2.4% 5.1%
2011 3.4% 4.47%
2010 3% 3.55%
2009 2.5% 5.16%
2008 12% 8.4%
2007 7.6% 2.28%
2006 7.4% 3.3%
2005 6% 2.17%
2004 6.1% 2.74%
2003 2.3% 7.93%
2002 5.8% 12.5%
2001 7.4% 37.7%
2000 10.3% 96.1%
1999 2.6% 52.2%
1998 18.7% 36.1%
1997 1,061% 30.7%

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

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

Over the past 29 years, Bulgaria has recorded an average annual inflation rate of 41.1%, compared with 11.4% in Ecuador. In 2025, inflation was 3.5% in Bulgaria and 0.71% in Ecuador.

Top exports between countries

Bulgaria
Export category Export value
Machinery & equipment $3.49M
Chemicals & pharma $3.08M
Textiles & consumer goods $1.81M
Processed food, beverages & tobacco $1.23M
Metals $169K
Raw materials & minerals $118K
Raw agricultural goods $43K
Precious metals & jewellery $36K
Miscellaneous $11K
Wood & paper products $2K
Ecuador
Export category Export value
Raw materials & minerals $78.5M
Raw agricultural goods $16.4M
Processed food, beverages & tobacco $7.97M
Animal & marine products $344K
Chemicals & pharma $126K
Wood & paper products $50K
Machinery & equipment $32K
Textiles & consumer goods $9K

Balance of trade

Bulgaria Ecuador
Current account balance
-$7.64B
2025
$7.7B
2025
Current account balance ranking
170/190
2025
28/190
2025
Current account balance, % of GDP
-5.84%
2025
+5.91%
2025
Goods imports
$58.5B
2025
$31.1B
2025
Goods exports
$47.9B
2025
$37.4B
2025
Service imports
$9.42B
2025
$6.22B
2025
Service exports
$18.6B
2025
$4.14B
2025
Imports of goods and services, % of GDP
51.8%
2025
27.9%
2025
Exports of goods and services, % of GDP
50.7%
2025
31.4%
2025

Economic freedom indices

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

Bulgaria Ecuador
Economic freedom 68.9 55.6
Economic freedom ranking 44/197 127/197
Property rights 75.8 33.2
Government integrity 48.4 33
Judicial effectiveness 58.5 48.1
Tax burden 89.1 74.2
Government spending 58.4 54.9
Fiscal health 90.4 90.3
Business freedom 78.2 64.3
Labor freedom 62.4 56.9
Monetary freedom 75.8 76.3
Trade freedom 79.4 66.4
Investment freedom 60 30
Financial freedom 50 40

Economic freedom comparison by year

Bulgaria
Ecuador
1x
Year Economic freedom index
Bulgaria Ecuador
2026 68.9 55.6
2025 68.8 55.8
2024 68.5 55
2023 69.3 55
2022 71 54.3
2021 70.4 52.4
2020 70.2 51.3
2019 69 46.9
2018 68.3 48.5
2017 67.9 49.3
2016 65.9 48.6
2015 66.8 49.2
2014 65.7 48
2013 65 46.9
2012 64.7 48.3
2011 64.9 47.1
2010 62.3 49.3
2009 64.6 52.5
2008 63.7 55.2
2007 62.7 55.3
2006 64.1 54.6
2005 62.3 52.9
2004 59.2 54.4
2003 57 54.1
2002 57.1 53.1
2001 51.9 55.1
2000 47.3 59.8
1999 46.2 62.9
1998 45.7 62.8
1997 47.6 61
1996 48.6 60.1
1995 50 57.7

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

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

The Economic Freedom Index for Bulgaria is 68.9, ranking 44/197, compared to 55.6 for Ecuador, ranking 127/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bulgaria Ecuador
Services, % of GDP
63.3%
2025
57%
2025
Industry, % of GDP
21.2%
2025
25.7%
2025
Agriculture, forestry, and fishing, % of GDP
2.47%
2025
9.7%
2025
GNI, Atlas method
$114B
2025
$126B
2025
GNI per capita, PPP
$42,170
2025
$16,290
2025
Total reserves including gold
$47.1B
2025
$9.8B
2025
Total reserves ranking
51/177
2025
79/177
2025
Net foreign direct investment
-$3.37B
2025
-$1.3B
2025
Net inflows of foreign direct investment
$3.05B
2024
$446M
2024
Net outflows of foreign direct investment
$1.21B
2024
$0
2024
Servicing debt to the IMF, % of GNI
6.8%
2024
7.05%
2024
Poverty at national poverty lines
21.7%
2023
21.4%
2025
Gross capital formation, % of GDP
21.7%
2025
20.9%
2025

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/ecuador | 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 (1995–2025, 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 (1924–2000, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2021–2025, 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.