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Economy of Bulgaria vs Ethiopia compared: GDP & Debt

Updated on by Georank

Bulgaria has a GDP of $131B compared to $126B for Ethiopia, ranking 63/197 and 66/197 by economy size, respectively.

Bulgaria has $35.4B in government debt (27.1% of GDP), compared to $54.4B (43.1% of GDP) in Ethiopia.

Bulgaria vs Ethiopia GDP by year

Bulgaria
Ethiopia
1x
Year GDP, current $
Bulgaria Ethiopia
2025 $130,777,235,530 $126,358,758,448
2024 $113,349,149,167 $149,740,297,952
2023 $102,204,457,335 $135,874,093,203
2022 $90,510,784,778 $123,140,304,665
2021 $84,378,926,047 $109,070,960,371
2020 $70,490,478,088 $98,676,811,062
2019 $68,511,235,459 $91,834,517,114
2018 $66,100,606,677 $83,337,901,072
2017 $59,170,671,046 $76,366,081,767
2016 $53,932,152,154 $68,475,871,210
2015 $50,768,512,173 $62,103,418,182
2014 $57,083,817,240 $55,612,228,234
2013 $55,822,115,861 $47,648,276,605
2012 $54,299,825,600 $43,310,721,414
2011 $57,684,243,980 $31,952,763,089
2010 $50,691,645,231 $29,933,790,334
2009 $52,026,461,290 $32,437,389,116
2008 $54,483,464,293 $27,066,912,635
2007 $44,433,521,725 $19,707,616,773
2006 $34,382,295,487 $15,280,861,835
2005 $29,870,182,425 $12,401,139,454
2004 $26,159,078,743 $10,131,187,261
2003 $21,146,038,619 $8,623,691,300
2002 $16,403,880,783 $7,850,809,498
2001 $14,184,170,319 $8,231,326,016
2000 $13,246,669,554 $8,242,349,618
1999 $13,637,793,854 $7,892,973,532
1998 $15,031,821,788 $8,013,274,132
1997 $11,316,706,412 $8,803,539,988
1996 $12,295,588,924 $8,761,215,548
1995 $18,992,388,645 $7,855,205,207
1994 $9,709,230,161 $7,100,806,754
1993 $10,832,041,595 $9,051,043,870
1992 $8,602,874,120 $10,754,799,037
1991 $7,628,764,750 $13,799,799,324
1990 $20,726,605,649 $12,478,943,895
1989 $21,746,286,447 $11,762,932,007
1988 $23,003,003,708 $11,181,119,718
1987 $28,428,718,531 $10,790,001,558
1986 $20,261,546,635 $10,094,328,898
1985 $17,562,270,447 $9,717,392,687
1984 $17,410,894,971 $8,298,309,581
1983 $16,959,180,922 $8,781,664,427
1982 $19,803,624,625 $7,899,988,841
1981 $20,055,685,481 $7,507,663,567
1980 $20,039,544,133 $7,012,585,454
1979 - $6,586,048,398
1978 - $6,014,961,435
1977 - $5,651,840,585
1976 - $4,943,806,093
1975 - $4,577,047,854
1974 - $4,577,209,966
1973 - $4,070,570,550
1972 - $3,520,252,938
1971 - $3,224,280,835
1970 - $3,045,354,455
1969 - $2,768,987,372
1968 - $2,619,948,865
1967 - $2,461,762,003
1966 - $2,324,466,416
1965 - $2,159,998,591
1964 - $1,984,129,186
1963 - $1,825,058,828
1962 - $1,747,566,307
1961 - $1,680,859,514
1960 - $1,610,511,694

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

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

GDP per capita in Bulgaria vs Ethiopia by year

Bulgaria
GDP per capita

GDP per capita, PPP
Ethiopia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bulgaria Ethiopia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $20,328 - $933 -
2024 $17,597 $41,969 $1,134 $3,288
2023 $15,854 $38,829 $1,056 $3,061
2022 $14,000 $36,320 $982 $2,845
2021 $12,967 $30,959 $893 $2,588
2020 $10,761 $27,352 $830 $2,407
2019 $10,354 $26,766 $793 $2,242
2018 $9,850 $23,998 $740 $2,095
2017 $8,697 $22,317 $696 $2,005
2016 $7,823 $20,746 $642 $1,858
2015 $7,269 $18,896 $598 $1,633
2014 $8,070 $17,991 $550 $1,485
2013 $7,796 $16,894 $484 $1,253
2012 $7,432 $16,327 $452 $1,179
2011 $7,850 $15,747 $343 $1,098
2010 $6,854 $14,954 $331 $996
2009 $6,989 $14,188 $369 $899
2008 $7,272 $14,347 $316 $845
2007 $5,889 $12,822 $237.1 $770
2006 $4,523 $11,406 $189.3 $693
2005 $3,900 $10,291 $158.2 $625
2004 $3,390 $9,200 $133.2 $558
2003 $2,720 $8,416 $116.8 $493
2002 $2,093 $7,786 $109.6 $509
2001 $1,771 $6,960 $118.5 $509
2000 $1,621 $6,424 $122.3 $474
1999 $1,661 $5,808 $120.7 $450
1998 $1,821 $6,178 $126.5 $436
1997 $1,361 $5,751 $143.4 $461
1996 $1,470 $6,849 $147.3 $453
1995 $2,259 $7,743 $136.5 $409
1994 $1,150 $7,338 $127.7 $391
1993 $1,279 $7,032 $168.5 $384
1992 $1,007 $6,917 $207.4 $343
1991 $884 $7,215 $277.6 $383
1990 $2,377 $7,548 $262.1 $417
1989 $2,450 - $256.4 -
1988 $2,561 - $253.2 -
1987 $3,169 - $254.1 -
1986 $2,262 - $246 -
1985 $1,960 - $243.9 -
1984 $1,943 - $214.2 -
1983 $1,897 - $232.7 -
1982 $2,221 - $215.3 -
1981 $2,256 - $212.7 -
1980 $2,261 - $203.7 -
1979 - - $192.4 -
1978 - - $178.3 -
1977 - - $170.4 -
1976 - - $152 -
1975 - - $144.3 -
1974 - - $147.9 -
1973 - - $134.9 -
1972 - - $119.8 -
1971 - - $112.7 -
1970 - - $109.4 -
1969 - - $102.3 -
1968 - - $99.5 -
1967 - - $96.1 -
1966 - - $93.2 -
1965 - - $88.9 -
1964 - - $83.8 -
1963 - - $79.2 -
1962 - - $77.8 -
1961 - - $76.7 -
1960 - - $75.3 -

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

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

Bulgaria's GDP per capita is $20,328, ranking 58/197, compared to $933 in Ethiopia, ranking 182/197. Adjusted for purchasing power (GDP per capita PPP), Bulgaria ranks 54th at $41,969, while Ethiopia ranks 175th at $3,288.

Economic indicators

Bulgaria Ethiopia
Gross domestic product
$131B
2025
$126B
2025
GDP rank
63/197
2025
66/197
2025
GDP growth
3.1%
2024-2025
9.77%
2024-2025
GDP per capita
$20,328
2025
$933
2025
GDP per capita rank
58/197
2025
182/197
2025
GDP per capita, PPP
$41,969
2024
$3,288
2024
GDP per capita PPP rank
54/197
2024
175/197
2024
Government debt
$35.4B
2025
$54.4B
2025
Debt-to-GDP ratio
27.1%
2025
43.1%
2025
Government debt per person
$5,507
2025
$402
2025
Government debt per person rank
79/185
2025
172/185
2025
Average annual personal income after taxes
$16,126
2026
$2,030
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
24.8%
2021
Income share by poorest 10%
2.1%
2023
3.5%
2021
Government expenditure, % of GDP
38.9%
2025
12%
2025
Consumer prices inflation
3.5%
2024-2025
13.2%
2024-2025
Central bank interest rate
1.81%
2025
n/a
Unemployment rate
3.5%
2025
3.94%
2021
Population
6390149
140722974

Spending and national debt comparison by year

Bulgaria
Spending

Debt
Ethiopia
Spending

Debt
1x
Year % of GDP
Bulgaria Ethiopia
Government spending Government debt Government spending Government debt
2025 38.9% 27.1% 12% 43.1%
2024 36.3% 23.8% 9.54% 33.4%
2023 37.5% 22.9% 10.8% 38.7%
2022 37.6% 22.5% 12.7% 46.9%
2021 38.5% 23.9% 13.8% 53.8%
2020 37.7% 22.7% 14.5% 53.2%
2019 36.1% 18.4% 15.4% 54.7%
2018 34.4% 20.1% 16.1% 58.4%
2017 32% 22.9% 18% 55.3%
2016 32.7% 27% 17.9% 51.8%
2015 37.3% 25.4% 17.3% 50.7%
2014 37.1% 26.3% 17.5% 44.2%
2013 35.5% 17.2% 17.8% 44.1%
2012 32.5% 16.5% 16.6% 39.4%
2011 32% 14.3% 18.2% 44.6%
2010 34.6% 14.1% 18.5% 39.4%
2009 33.8% 14.5% 17.1% 30%
2008 33.5% 14.7% 18.8% 56.1%
2007 33.1% 17.6% 20.5% 55.7%
2006 32.5% 22.6% 22.1% 79.6%
2005 34% 28.5% 22.9% 78.2%
2004 34.6% 37.8% 23.1% 103.1%
2003 35.8% 45.4% 27% 103.7%
2002 35.1% 53.4% 24.9% 107.4%
2001 36.5% 67.1% 22.4% 97.3%
2000 37.1% 73.3% 25.6% 93.6%
1999 36.2% 78.7% 26.8% 97.8%
1998 30.6% 67.3% 21.1% 89.3%
1997 32.9% 88.4% 17.9% 80.3%
1996 44% 113.8% 18.8% 132.8%
1995 45.4% 72% 17.4% 146.6%
1994 - - 17.6% 155.2%
1993 - - 13.8% 141%
1992 - - 14.2% 87.9%
1991 - - 17.3% 89.3%
1990 - - 20.9% 91.6%
1989 - - 24% 84.7%
1988 - - 21.6% 84.3%
1987 - - 18.4% 82.3%
1986 - - 19.8% 75.7%
1985 - - 19.7% 67.7%
1984 - - 18.8% 65.4%
1983 - - 21.3% 55.2%
1982 - - 16.4% 48.8%
1981 - - 14.2% 30.6%
1980 - - 13.5% 18.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1997, retrieved 2026-07-08).

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

In 2025, Bulgaria's government spending was $50.8B, accounting for 38.9% of its GDP, while Ethiopia spent $15.2B, or 12% of GDP.

Debt-to-GDP ratio is 27.1% in Bulgaria and 43.1% in Ethiopia, ranking 164/185 and 122/185, respectively.

Government deficit by year

Deficit/surplus
Bulgaria

Ethiopia
1x
Year Deficit/surplus, % of GDP
Bulgaria Ethiopia
2025 -3.01% -1.19%
2024 -3.01% -1.99%
2023 -3.04% -2.6%
2022 -0.8% -4.16%
2021 -2.8% -2.77%
2020 -2.92% -2.76%
2019 -0.96% -2.53%
2018 0.12% -3.03%
2017 0.82% -3.24%
2016 1.54% -2.3%
2015 -2.77% -1.95%
2014 -3.65% -2.58%
2013 -1.75% -1.93%
2012 -0.43% -1.17%
2011 -1.83% -1.61%
2010 -3.77% -1.32%
2009 -0.86% -0.93%
2008 2.73% -2.88%
2007 3.09% -3.57%
2006 3.22% -3.79%
2005 2.19% -4.12%
2004 1.59% -2.65%
2003 0.003% -5.59%
2002 -0.61% -5.76%
2001 -0.58% -3.76%
2000 -0.6% -8.88%
1999 0.15% -8.54%
1998 1.08% -3.65%
1997 0.83% -1.76%
1996 -10.1% -3.93%
1995 -7.98% -2.76%
1994 - -5.39%
1993 - -4.12%
1992 - -4.92%
1991 - -6%
1990 - -6.86%
1989 - -4.33%
1988 - -3.48%
1987 - -3.54%
1986 - -3.98%
1985 - -4.71%
1984 - -3.69%
1983 - -7.59%
1982 - -3.6%
1981 - -2.19%
1980 - -2.56%
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/ethiopia | 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 Ethiopia's deficit of $1.5B, or 1.19% of GDP.

Over the past 31 years, Bulgaria recorded a fiscal deficit in 19 of those years, while Ethiopia ran a deficit in 31 years. On average, Bulgaria posted an annual deficit equal to 1.1% of GDP, compared to deficit of 3.22% of GDP for Ethiopia.

Inflation comparison by year

Inflation
Bulgaria

Ethiopia
1x
Year Consumer prices inflation
Bulgaria Ethiopia
2025 3.5% 13.2%
2024 2.6% 21%
2023 8.6% 30.2%
2022 13% 33.9%
2021 2.8% 26.8%
2020 1.2% 20.4%
2019 2.5% 15.8%
2018 2.6% 13.8%
2017 1.2% 10.7%
2016 -1.3% 6.63%
2015 -1.1% 9.57%
2014 -1.6% 6.89%
2013 0.4% 7.46%
2012 2.4% 23.6%
2011 3.4% 33.2%
2010 3% 8.15%
2009 2.5% 8.48%
2008 12% 44.4%
2007 7.6% 17.2%
2006 7.4% 12.3%
2005 6% 9.97%
2004 6.1% 3.33%
2003 2.3% 13.7%
2002 5.8% 0.68%
2001 7.4% -8.24%
2000 10.3% 0.66%
1999 2.6% 7.94%
1998 18.7% 0.89%
1997 1,061% 2.4%

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/ethiopia | CC BY

Over the past 29 years, Bulgaria has recorded an average annual inflation rate of 41.1%, compared with 13.6% in Ethiopia. In 2025, inflation was 3.5% in Bulgaria and 13.2% in Ethiopia.

Top exports between countries

Bulgaria
Export category Export value
Raw agricultural goods $14.3M
Machinery & equipment $1.93M
Raw materials & minerals $920K
Textiles & consumer goods $114K
Wood & paper products $109K
Processed food, beverages & tobacco $37K
Metals $21K
Chemicals & pharma $19K
Animal & marine products $1K
Miscellaneous $1K
Ethiopia
Export category Export value
Raw agricultural goods $3.54M
Machinery & equipment $242K
Textiles & consumer goods $189K
Chemicals & pharma $138K
Precious metals & jewellery $2K

Balance of trade

Bulgaria Ethiopia
Current account balance
-$7.64B
2025
-$3.79B
2024
Current account balance ranking
170/190
2025
154/190
2024
Current account balance, % of GDP
-5.84%
2025
-2.53%
2024
Goods imports
$58.5B
2025
$19.6B
2024
Goods exports
$47.9B
2025
$5.58B
2024
Service imports
$9.42B
2025
$5.51B
2024
Service exports
$18.6B
2025
$7.61B
2024
Imports of goods and services, % of GDP
51.8%
2025
20.2%
2025
Exports of goods and services, % of GDP
50.7%
2025
13.3%
2025

Economic freedom indices

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

Bulgaria Ethiopia
Economic freedom 68.9 48.1
Economic freedom ranking 44/197 171/197
Property rights 75.8 22.1
Government integrity 48.4 33.2
Judicial effectiveness 58.5 19.1
Tax burden 89.1 78.6
Government spending 58.4 96.4
Fiscal health 90.4 84.3
Business freedom 78.2 44.5
Labor freedom 62.4 37.8
Monetary freedom 75.8 53.7
Trade freedom 79.4 57.4
Investment freedom 60 30
Financial freedom 50 20

Economic freedom comparison by year

Bulgaria
Ethiopia
1x
Year Economic freedom index
Bulgaria Ethiopia
2026 68.9 48.1
2025 68.8 48.1
2024 68.5 47.9
2023 69.3 48.3
2022 71 49.6
2021 70.4 51.7
2020 70.2 53.6
2019 69 53.6
2018 68.3 52.8
2017 67.9 52.7
2016 65.9 51.5
2015 66.8 51.5
2014 65.7 50
2013 65 49.4
2012 64.7 52
2011 64.9 50.5
2010 62.3 51.2
2009 64.6 53
2008 63.7 52.5
2007 62.7 53.6
2006 64.1 50.9
2005 62.3 51.1
2004 59.2 54.5
2003 57 48.8
2002 57.1 49.8
2001 51.9 48.9
2000 47.3 50.2
1999 46.2 46.7
1998 45.7 49.2
1997 47.6 48.1
1996 48.6 45.9
1995 50 42.6

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

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

The Economic Freedom Index for Bulgaria is 68.9, ranking 44/197, compared to 48.1 for Ethiopia, ranking 171/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bulgaria Ethiopia
Services, % of GDP
63.3%
2025
36.6%
2025
Industry, % of GDP
21.2%
2025
27.8%
2025
Agriculture, forestry, and fishing, % of GDP
2.47%
2025
32.8%
2025
GNI, Atlas method
$114B
2025
$151B
2025
GNI per capita, PPP
$42,170
2025
$3,620
2025
Total reserves including gold
$47.1B
2025
$3.78B
2024
Total reserves ranking
51/177
2025
113/177
2024
Net foreign direct investment
-$3.37B
2025
-$4.02B
2024
Net inflows of foreign direct investment
$3.05B
2024
$4.02B
2024
Net outflows of foreign direct investment
$1.21B
2024
$0
2024
Servicing debt to the IMF, % of GNI
6.8%
2024
0.91%
2024
Poverty at national poverty lines
21.7%
2023
33.1%
2021
Gross capital formation, % of GDP
21.7%
2025
20.1%
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/ethiopia | CC BY

Compare countries by 7 more topics

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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. International Monetary Fund (IMF) | Public Finances in Modern History (1924–1997, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, 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.