Bulgaria has a GDP of $112B compared to $4.66T for Germany, ranking 68/197 and 3/197 by economy size, respectively.
Bulgaria has $26.2B in government debt (28% of GDP), compared to $2.98T (65.4% of GDP) in Germany.
The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.
| Year | GDP | |||
|---|---|---|---|---|
Bulgaria
|
Germany
|
|||
| Current $ | Constant $ | Current $ | Constant $ | |
| 1960 | - | - | $84,619,845,881 | $917,491,579,543 |
| 1961 | - | - | $96,558,204,043 | $956,929,400,596 |
| 1962 | - | - | $105,895,435,234 | $1,001,172,753,513 |
| 1963 | - | - | $112,232,503,744 | $1,028,557,795,839 |
| 1964 | - | - | $123,330,404,665 | $1,096,848,581,197 |
| 1965 | - | - | $134,774,688,191 | $1,154,369,120,213 |
| 1966 | - | - | $143,304,275,684 | $1,186,832,072,459 |
| 1967 | - | - | $145,100,667,773 | $1,182,912,482,568 |
| 1968 | - | - | $156,527,292,653 | $1,249,969,106,699 |
| 1969 | - | - | $177,733,486,326 | $1,342,693,099,411 |
| 1970 | - | - | $216,629,229,947 | $1,411,212,669,066 |
| 1971 | - | - | $250,900,942,397 | $1,455,421,725,513 |
| 1972 | - | - | $300,899,944,795 | $1,518,009,827,084 |
| 1973 | - | - | $399,833,571,167 | $1,590,532,547,530 |
| 1974 | - | - | $446,934,971,657 | $1,604,689,380,040 |
| 1975 | - | - | $492,434,094,920 | $1,590,780,912,797 |
| 1976 | - | - | $521,658,712,133 | $1,669,512,771,062 |
| 1977 | - | - | $602,698,323,086 | $1,725,395,004,279 |
| 1978 | - | - | $743,182,891,918 | $1,777,303,390,150 |
| 1979 | - | - | $884,574,218,333 | $1,851,067,937,956 |
| 1980 | $19,839,230,769 | $30,380,971,166 | $953,772,499,462 | $1,877,146,313,526 |
| 1981 | $19,870,000,000 | $31,869,687,928 | $803,404,797,058 | $1,887,080,933,422 |
| 1982 | $19,342,000,000 | $32,613,706,697 | $779,421,633,755 | $1,879,629,968,245 |
| 1983 | $16,563,666,667 | $33,732,456,606 | $773,507,930,295 | $1,909,185,460,625 |
| 1984 | $17,594,944,444 | $34,878,160,477 | $727,767,760,979 | $1,963,080,770,679 |
| 1985 | $17,155,421,053 | $35,814,095,245 | $735,218,723,093 | $2,008,780,018,732 |
| 1986 | $20,249,294,118 | $37,321,009,834 | $1,050,092,624,516 | $2,054,727,633,074 |
| 1987 | $28,101,000,000 | $39,580,615,539 | $1,302,932,318,825 | $2,083,538,029,651 |
| 1988 | $22,555,941,176 | $43,912,592,027 | $1,406,367,016,372 | $2,160,779,694,267 |
| 1989 | $21,988,444,444 | $42,467,919,536 | $1,404,092,925,205 | $2,244,975,592,505 |
| 1990 | $20,632,090,909 | $38,595,959,168 | $1,778,162,195,860 | $2,362,949,196,758 |
| 1991 | $7,628,738,475 | $35,336,393,321 | $1,875,792,575,133 | $2,483,654,820,997 |
| 1992 | $8,602,887,623 | $32,766,593,697 | $2,141,377,582,968 | $2,533,680,204,796 |
| 1993 | $10,832,064,942 | $32,281,577,705 | $2,078,954,217,438 | $2,509,019,802,318 |
| 1994 | $9,709,240,034 | $32,868,460,441 | $2,215,282,632,277 | $2,574,193,723,153 |
| 1995 | $18,991,484,420 | $33,809,162,070 | $2,593,053,091,306 | $2,612,945,784,189 |
| 1996 | $12,294,964,838 | $35,569,061,581 | $2,506,576,553,158 | $2,640,072,233,043 |
| 1997 | $11,316,127,379 | $30,548,353,201 | $2,218,790,886,533 | $2,689,040,748,577 |
| 1998 | $15,031,055,047 | $31,705,867,020 | $2,247,760,364,566 | $2,745,407,382,812 |
| 1999 | $13,637,098,579 | $29,043,813,498 | $2,213,873,468,587 | $2,803,887,763,789 |
| 2000 | $13,245,990,274 | $30,376,118,720 | $1,966,980,701,145 | $2,884,562,511,081 |
| 2001 | $14,183,446,026 | $31,537,611,700 | $1,966,381,496,642 | $2,931,769,559,083 |
| 2002 | $16,403,043,850 | $33,389,478,558 | $2,102,350,798,306 | $2,925,076,029,438 |
| 2003 | $21,144,957,990 | $35,138,136,848 | $2,534,715,518,349 | $2,909,575,202,981 |
| 2004 | $26,157,743,369 | $37,425,778,955 | $2,852,317,768,062 | $2,943,395,181,479 |
| 2005 | $29,868,657,858 | $40,066,672,613 | $2,893,393,187,362 | $2,969,464,751,856 |
| 2006 | $34,380,536,496 | $42,792,243,672 | $3,046,308,753,671 | $3,083,959,477,646 |
| 2007 | $44,431,257,129 | $45,639,805,450 | $3,484,056,680,855 | $3,173,089,211,904 |
| 2008 | $54,480,684,188 | $48,437,324,161 | $3,808,786,022,313 | $3,201,977,118,077 |
| 2009 | $52,023,801,230 | $46,816,058,447 | $3,479,800,820,863 | $3,024,422,218,193 |
| 2010 | $50,689,051,382 | $47,544,216,522 | $3,468,154,343,000 | $3,149,837,977,324 |
| 2011 | $57,681,293,007 | $48,537,973,978 | $3,824,828,563,521 | $3,268,207,907,176 |
| 2012 | $54,297,052,002 | $48,901,433,558 | $3,597,896,500,945 | $3,283,708,733,633 |
| 2013 | $55,819,262,375 | $48,636,020,243 | $3,808,086,291,482 | $3,296,391,224,293 |
| 2014 | $57,080,897,012 | $49,097,794,444 | $3,965,800,686,310 | $3,367,906,395,565 |
| 2015 | $50,765,918,159 | $50,765,918,159 | $3,423,568,450,957 | $3,423,568,450,957 |
| 2016 | $53,929,397,039 | $52,302,414,125 | $3,537,784,107,981 | $3,502,129,441,295 |
| 2017 | $59,167,647,388 | $53,738,599,947 | $3,763,092,263,753 | $3,597,248,136,567 |
| 2018 | $66,251,582,036 | $55,108,646,394 | $4,052,008,447,224 | $3,637,409,365,503 |
| 2019 | $68,634,004,792 | $57,196,630,544 | $3,957,208,055,216 | $3,673,343,090,743 |
| 2020 | $70,550,652,467 | $55,357,337,084 | $3,940,142,541,354 | $3,522,914,639,712 |
| 2021 | $84,414,122,840 | $59,664,478,254 | $4,348,297,440,388 | $3,652,205,602,904 |
| 2022 | $90,509,236,929 | $62,074,193,827 | $4,163,596,357,879 | $3,702,230,996,916 |
| 2023 | $102,396,840,296 | $63,245,418,927 | $4,525,703,903,628 | $3,692,366,831,840 |
| 2024 | $112,211,952,704 | $65,023,138,714 | $4,659,929,336,891 | $3,683,559,545,240 |
Economic indicators
|
Bulgaria
|
Germany
|
|
|---|---|---|
| Gross domestic product |
$112B
2024 |
$4.66T
2024 |
| GDP rank |
68/197
2024 |
3/197
2024 |
| GDP growth |
9.59%
2023-2024 |
2.97%
2023-2024 |
| GDP per capita |
$17,412
2024 |
$55,800
2024 |
| GDP per capita rank |
64/197
2024 |
18/197
2024 |
| GDP per capita, PPP |
$41,086
2024 |
$72,300
2024 |
| Government debt |
$26.2B
2024 |
$2.98T
2024 |
| Debt-to-GDP ratio |
28%
2025 |
65.4%
2025 |
| Government debt per person |
$4,067
2024 |
$35,650
2024 |
| Government debt per person rank |
90/185
2024 |
21/185
2024 |
| Average annual personal income after taxes |
$12,784
2025 |
$39,481
2025 |
| Market capitalization of domestic companies |
$8.41B
2024 |
$2.04T
2024 |
| Number of millionaires | n/a |
2,820,819
2024 |
| Number of billionaires |
2
2025 |
171
2025 |
| Income share by richest 10% |
31.1%
2023 |
25%
2020 |
| Income share by poorest 10% |
2.1%
2023 |
2.9%
2020 |
| Government expenditure, % of GDP |
39%
2025 |
49.9%
2025 |
| Consumer prices inflation |
3.6%
2024-2025 |
2.26%
2023-2024 |
| Central bank interest rate |
1.82%
2025 |
n/a |
| Unemployment rate |
4.17%
2024 |
3.37%
2024 |
| Population |
6403235
|
83039665
|
GDP per capita in Bulgaria vs Germany
Bulgaria's GDP per capita is $17,412, ranking 64/197, compared to $55,800 in Germany, ranking 18/197. Adjusted for purchasing power (GDP per capita PPP), Bulgaria ranks 57th at $41,086, while Germany ranks 19th at $72,300.
| Year | Current $ | |||
|---|---|---|---|---|
|
Bulgaria
|
Germany
|
|||
| GDP per capita | GDP per capita, PPP | GDP per capita | GDP per capita, PPP | |
| 1960 | - | - | $1,162 | - |
| 1961 | - | - | $1,316 | - |
| 1962 | - | - | $1,431 | - |
| 1963 | - | - | $1,502 | - |
| 1964 | - | - | $1,637 | - |
| 1965 | - | - | $1,774 | - |
| 1966 | - | - | $1,871 | - |
| 1967 | - | - | $1,886 | - |
| 1968 | - | - | $2,025 | - |
| 1969 | - | - | $2,281 | - |
| 1970 | - | - | $2,771 | - |
| 1971 | - | - | $3,204 | - |
| 1972 | - | - | $3,824 | - |
| 1973 | - | - | $5,065 | - |
| 1974 | - | - | $5,660 | - |
| 1975 | - | - | $6,259 | - |
| 1976 | - | - | $6,659 | - |
| 1977 | - | - | $7,711 | - |
| 1978 | - | - | $9,517 | - |
| 1979 | - | - | $11,322 | - |
| 1980 | $2,239 | - | $12,183 | - |
| 1981 | $2,235 | - | $10,246 | - |
| 1982 | $2,169 | - | $9,950 | - |
| 1983 | $1,853 | - | $9,900 | - |
| 1984 | $1,964 | - | $9,347 | - |
| 1985 | $1,915 | - | $9,464 | - |
| 1986 | $2,260 | - | $13,511 | - |
| 1987 | $3,132 | - | $16,739 | - |
| 1988 | $2,511 | - | $17,997 | - |
| 1989 | $2,477 | - | $17,829 | - |
| 1990 | $2,367 | $7,546 | $22,386 | $19,521 |
| 1991 | $884 | $7,213 | $23,443 | $21,058 |
| 1992 | $1,007 | $6,915 | $26,560 | $21,806 |
| 1993 | $1,279 | $7,030 | $25,617 | $21,940 |
| 1994 | $1,150 | $7,335 | $27,202 | $22,887 |
| 1995 | $2,259 | $7,738 | $31,747 | $23,615 |
| 1996 | $1,470 | $6,846 | $30,600 | $24,160 |
| 1997 | $1,361 | $5,749 | $27,047 | $24,644 |
| 1998 | $1,820 | $6,178 | $27,396 | $25,444 |
| 1999 | $1,661 | $5,808 | $26,965 | $26,518 |
| 2000 | $1,621 | $6,423 | $23,926 | $27,468 |
| 2001 | $1,771 | $6,961 | $23,878 | $28,677 |
| 2002 | $2,093 | $7,786 | $25,487 | $29,514 |
| 2003 | $2,719 | $8,417 | $30,711 | $30,305 |
| 2004 | $3,390 | $9,202 | $34,567 | $31,757 |
| 2005 | $3,900 | $10,291 | $35,084 | $32,314 |
| 2006 | $4,523 | $11,408 | $36,980 | $34,749 |
| 2007 | $5,889 | $12,822 | $42,351 | $36,915 |
| 2008 | $7,271 | $14,347 | $46,386 | $38,444 |
| 2009 | $6,988 | $14,181 | $42,487 | $37,554 |
| 2010 | $6,854 | $14,956 | $42,410 | $39,730 |
| 2011 | $7,850 | $15,747 | $47,647 | $43,398 |
| 2012 | $7,432 | $16,327 | $44,736 | $44,229 |
| 2013 | $7,796 | $16,894 | $47,220 | $45,889 |
| 2014 | $8,070 | $17,991 | $48,971 | $47,939 |
| 2015 | $7,269 | $18,901 | $41,911 | $48,558 |
| 2016 | $7,822 | $20,745 | $42,961 | $51,570 |
| 2017 | $8,697 | $22,317 | $45,527 | $54,110 |
| 2018 | $9,872 | $24,053 | $48,875 | $56,273 |
| 2019 | $10,373 | $26,814 | $47,624 | $59,271 |
| 2020 | $10,770 | $27,377 | $47,380 | $58,686 |
| 2021 | $12,972 | $30,974 | $52,266 | $62,531 |
| 2022 | $14,000 | $35,816 | $49,686 | $67,590 |
| 2023 | $15,884 | $37,508 | $53,940 | $68,693 |
| 2024 | $17,412 | $41,086 | $55,800 | $72,300 |
Spending and national debt comparison
In 2024, Bulgaria's government spending was $41.1B, accounting for 39% of its GDP, while Germany's spent $2.31T, or 49.9% of GDP.
Debt-to-GDP ratio is 28% in Bulgaria and 65.4% in Germany, ranking 162/185 and 65/185, respectively.
| Year | % of GDP | |||
|---|---|---|---|---|
|
Bulgaria
|
Germany
|
|||
| Government spending | Government debt | Government spending | Government debt | |
| 1960 | - | - | 22.9% | 18.4% |
| 1961 | - | - | 28.8% | 18.7% |
| 1962 | - | - | 29.2% | 17.6% |
| 1963 | - | - | 29.1% | 18.1% |
| 1964 | - | - | 29% | 18.2% |
| 1965 | - | - | 28.4% | 18.7% |
| 1966 | - | - | 28.3% | 19.8% |
| 1967 | - | - | 28.8% | 22.5% |
| 1968 | - | - | 28.5% | 22.5% |
| 1969 | - | - | 29.7% | 20.3% |
| 1970 | - | - | 39.5% | 17.7% |
| 1971 | - | - | 40.9% | 17.7% |
| 1972 | - | - | 41.8% | 18% |
| 1973 | - | - | 42.4% | 17.3% |
| 1974 | - | - | 46% | 18.5% |
| 1975 | - | - | 50.3% | 23.7% |
| 1976 | - | - | 49.4% | 25.1% |
| 1977 | - | - | 49% | 26% |
| 1978 | - | - | 47.7% | 27.4% |
| 1979 | - | - | 47.4% | 28.2% |
| 1980 | - | - | 48.2% | 30.1% |
| 1981 | - | - | 49% | 33.6% |
| 1982 | - | - | 49.1% | 36.4% |
| 1983 | - | - | 47.9% | 38% |
| 1984 | - | - | 47.2% | 38.7% |
| 1985 | - | - | 46.6% | 39.2% |
| 1986 | - | - | 45.7% | 39.1% |
| 1987 | - | - | 46% | 40.1% |
| 1988 | - | - | 45.6% | 40.5% |
| 1989 | - | - | 44.3% | 39.2% |
| 1990 | - | - | 44.7% | 40.7% |
| 1991 | - | - | 46.5% | 39.5% |
| 1992 | - | - | 47.4% | 41.9% |
| 1993 | - | - | 48.3% | 45.5% |
| 1994 | - | - | 48.3% | 47.9% |
| 1995 | 45.4% | 72% | 55.2% | 55.3% |
| 1996 | 44% | 113.8% | 49.6% | 58.1% |
| 1997 | 32.9% | 88.4% | 48.8% | 59.2% |
| 1998 | 30.6% | 67.3% | 48.3% | 59.8% |
| 1999 | 36.2% | 78.7% | 48.5% | 60.3% |
| 2000 | 37.1% | 73.3% | 48.1% | 59.2% |
| 2001 | 36.5% | 67.1% | 47.7% | 58.1% |
| 2002 | 35.1% | 53.4% | 48.2% | 59.8% |
| 2003 | 35.8% | 45.4% | 48.5% | 63.3% |
| 2004 | 34.6% | 37.8% | 47% | 65% |
| 2005 | 34% | 28.5% | 46.9% | 67.1% |
| 2006 | 32.5% | 22.6% | 45.3% | 66.4% |
| 2007 | 33.1% | 17.6% | 43.5% | 63.7% |
| 2008 | 33.5% | 14.7% | 44.4% | 65.2% |
| 2009 | 33.8% | 14.5% | 48.3% | 72.3% |
| 2010 | 34.6% | 14.1% | 48.1% | 81% |
| 2011 | 32% | 14.3% | 45.3% | 78.5% |
| 2012 | 32.5% | 16.5% | 45.1% | 79.8% |
| 2013 | 35.5% | 17.2% | 45.2% | 77.4% |
| 2014 | 37.1% | 26.3% | 44.5% | 74.5% |
| 2015 | 37.3% | 25.4% | 44.5% | 71.2% |
| 2016 | 32.7% | 27% | 44.7% | 68.3% |
| 2017 | 32% | 22.9% | 44.6% | 64% |
| 2018 | 34.4% | 20.1% | 44.7% | 60.8% |
| 2019 | 36% | 18.4% | 45.6% | 58.7% |
| 2020 | 37.6% | 22.7% | 51.1% | 68% |
| 2021 | 38.4% | 22.4% | 50.7% | 68.1% |
| 2022 | 37.6% | 21.5% | 49% | 65% |
| 2023 | 37.4% | 21.9% | 48.4% | 62.9% |
| 2024 | 36.6% | 23.4% | 49.5% | 63.9% |
| 2025 | 39% | 28% | 49.9% | 65.4% |
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 Germany's deficit of -$129B, or -2.76% of GDP.
Over the past 45 years, Bulgaria recorded a fiscal deficit in 18 of those years, while Germany ran a deficit in 36 years. On average, Bulgaria posted an annual deficit equal to -0.69% of GDP, compared to deficit of -2.07% of GDP for Germany.
| Year | Deficit/surplus, % of GDP | |
|---|---|---|
|
Bulgaria
|
Germany
|
|
| 1880 | - | -0.13% |
| 1881 | - | 0.12% |
| 1882 | - | 0.41% |
| 1883 | - | 0.55% |
| 1884 | - | 0.23% |
| 1885 | - | 0.21% |
| 1886 | - | 0.23% |
| 1887 | - | 0.88% |
| 1888 | - | 0.62% |
| 1889 | - | 1.16% |
| 1890 | - | 0.12% |
| 1891 | - | 1.18% |
| 1892 | - | -0.24% |
| 1893 | - | 0.42% |
| 1894 | - | 0.44% |
| 1895 | - | 0.47% |
| 1896 | - | 0.63% |
| 1897 | - | 0.39% |
| 1898 | - | 0.47% |
| 1899 | - | 0.6% |
| 1900 | - | 0.27% |
| 1901 | - | 0.91% |
| 1902 | - | 0.08% |
| 1903 | - | 0.88% |
| 1904 | - | 0.41% |
| 1905 | - | 1.21% |
| 1906 | - | 0.76% |
| 1907 | - | -0.14% |
| 1908 | - | -0.11% |
| 1909 | - | 0.11% |
| 1910 | - | -0.21% |
| 1911 | - | 0.06% |
| 1912 | - | -0.26% |
| 1913 | - | 0.007% |
| 1914 | - | 0.007% |
| 1915 | - | 0.007% |
| 1916 | - | 0.007% |
| 1917 | - | 0.007% |
| 1918 | - | 0.007% |
| 1919 | - | 0.007% |
| 1920 | - | 0.007% |
| 1921 | - | 0.007% |
| 1922 | - | 0.007% |
| 1923 | - | 0.007% |
| 1924 | 1.26% | 0.007% |
| 1925 | -0.97% | 0.34% |
| 1926 | -0.25% | -1.3% |
| 1927 | -0.02% | -0.44% |
| 1928 | -1.09% | -1.47% |
| 1929 | -6.67% | -0.9% |
| 1930 | -5.48% | -1.52% |
| 1931 | -3.07% | -1.03% |
| 1932 | -2.14% | -1.11% |
| 1933 | -0.56% | -0.43% |
| 1934 | -0.12% | -0.64% |
| 1935 | 1.34% | -0.64% |
| 1936 | 1.17% | -0.64% |
| 1937 | 1.41% | -0.64% |
| 1938 | 1% | -0.64% |
| 1939 | 0.72% | -0.64% |
| 1940 | 0.75% | -0.64% |
| 1941 | 3.96% | -0.64% |
| 1942 | -0.3% | -0.64% |
| 1943 | 0% | -0.64% |
| 1944 | 0% | -0.64% |
| 1945 | 0% | -0.64% |
| 1946 | 0% | -0.64% |
| 1947 | 0% | -0.64% |
| 1948 | 0% | -0.64% |
| 1949 | 0% | -0.64% |
| 1950 | 0% | 1.81% |
| 1951 | 0% | 1.15% |
| 1952 | 0% | 0% |
| 1953 | 0% | -0.13% |
| 1954 | 0% | -0.37% |
| 1955 | 0% | -1.41% |
| 1956 | 0% | 0.59% |
| 1957 | 0% | 1.99% |
| 1958 | 0% | 1.77% |
| 1959 | 0% | 0.77% |
| 1960 | 0% | -0.34% |
| 1961 | 0% | -0.12% |
| 1962 | 0% | 0.49% |
| 1963 | 0% | 1.43% |
| 1964 | 0% | 1.49% |
| 1965 | 0% | 2.26% |
| 1966 | 0% | 1.76% |
| 1967 | 0% | 2.73% |
| 1968 | 0% | 1.39% |
| 1969 | 0% | -0.43% |
| 1970 | 0% | 0.53% |
| 1971 | 0% | 0.16% |
| 1972 | 0% | -0.37% |
| 1973 | 0% | 1.14% |
| 1974 | 0% | -1.69% |
| 1975 | 0% | -5.78% |
| 1976 | 0% | -3.5% |
| 1977 | 0% | -2.56% |
| 1978 | 0% | -2.62% |
| 1979 | 0% | -2.71% |
| 1980 | 0% | -3.02% |
| 1981 | 0% | -4.03% |
| 1982 | 0% | -3.56% |
| 1983 | 0% | -2.95% |
| 1984 | 0% | -2.04% |
| 1985 | 0% | -1.18% |
| 1986 | 0% | -1.18% |
| 1987 | 0% | -1.85% |
| 1988 | 0% | -2.02% |
| 1989 | 0% | 0.08% |
| 1990 | 0% | -1.94% |
| 1991 | 0% | -3.21% |
| 1992 | 0% | -2.63% |
| 1993 | 0% | -3.11% |
| 1994 | 0% | -2.54% |
| 1995 | -7.98% | -9.44% |
| 1996 | -10.1% | -3.64% |
| 1997 | 0.83% | -3.03% |
| 1998 | 1.08% | -2.65% |
| 1999 | 0.15% | -1.87% |
| 2000 | -0.6% | -1.71% |
| 2001 | -0.58% | -3.12% |
| 2002 | -0.61% | -4.09% |
| 2003 | 0.003% | -3.83% |
| 2004 | 1.59% | -3.42% |
| 2005 | 2.19% | -3.37% |
| 2006 | 3.22% | -1.76% |
| 2007 | 3.09% | 0.15% |
| 2008 | 2.73% | -0.26% |
| 2009 | -0.86% | -3.17% |
| 2010 | -3.77% | -4.42% |
| 2011 | -1.83% | -0.84% |
| 2012 | -0.43% | -0.05% |
| 2013 | -1.75% | 0.12% |
| 2014 | -3.65% | 0.73% |
| 2015 | -2.77% | 0.92% |
| 2016 | 1.54% | 1.13% |
| 2017 | 0.82% | 1.34% |
| 2018 | 0.12% | 1.88% |
| 2019 | -0.96% | 1.33% |
| 2020 | -2.92% | -4.38% |
| 2021 | -2.8% | -3.17% |
| 2022 | -0.8% | -2.15% |
| 2023 | -3.03% | -2.48% |
| 2024 | -3.03% | -2.76% |
| 2025 | -3.03% | -2.95% |
Inflation comparison by year
Over the past 29 years, Bulgaria has recorded an average annual inflation rate of 45.3%, compared with 1.81% in Germany. In 2024, inflation was 3.6% in Bulgaria and 2.26% in Germany.
| Year | Inflation | ||
|---|---|---|---|
|
Bulgaria
|
Germany
|
Bulgaria
|
Germany
|
| 1996 | 123% | 1.45% | |
| 1997 | 1,061% | 1.94% | |
| 1998 | 18.7% | 0.91% | |
| 1999 | 2.6% | 0.59% | |
| 2000 | 10.3% | 1.44% | |
| 2001 | 7.4% | 1.98% | |
| 2002 | 5.8% | 1.42% | |
| 2003 | 2.3% | 1.03% | |
| 2004 | 6.1% | 1.67% | |
| 2005 | 6% | 1.55% | |
| 2006 | 7.4% | 1.58% | |
| 2007 | 7.6% | 2.3% | |
| 2008 | 12% | 2.63% | |
| 2009 | 2.5% | 0.31% | |
| 2010 | 3% | 1.1% | |
| 2011 | 3.4% | 2.08% | |
| 2012 | 2.4% | 2.01% | |
| 2013 | 0.4% | 1.5% | |
| 2014 | -1.6% | 0.91% | |
| 2015 | -1.1% | 0.51% | |
| 2016 | -1.3% | 0.49% | |
| 2017 | 1.2% | 1.51% | |
| 2018 | 2.6% | 1.73% | |
| 2019 | 2.5% | 1.45% | |
| 2020 | 1.2% | 0.14% | |
| 2021 | 2.8% | 3.07% | |
| 2022 | 13% | 6.87% | |
| 2023 | 8.6% | 5.95% | |
| 2024 | 2.6% | 2.26% | |
| 2025 | 3.6% | - | |
Top exports between countries
|
Bulgaria
|
|
|---|---|
| Export category | Export value |
| Machinery & equipment | $2.79B |
| Metals | $1.84B |
| Raw materials & minerals | $913M |
| Transport & tourism services | $549M |
| Textiles & consumer goods | $509M |
| Chemicals & pharma | $490M |
| Processed food, beverages & tobacco | $258M |
| Raw agricultural goods | $159M |
| Manufacturing & construction services | $99.6M |
| IT & IP services | $68.3M |
|
Germany
|
|
|---|---|
| Export category | Export value |
| Machinery & equipment | $3.19B |
| Chemicals & pharma | $1.13B |
| Textiles & consumer goods | $544M |
| Metals | $435M |
| Processed food, beverages & tobacco | $392M |
| Transport & tourism services | $300M |
| Animal & marine products | $193M |
| Raw materials & minerals | $150M |
| Wood & paper products | $123M |
| Miscellaneous | $113M |
Balance of trade
|
Bulgaria
|
Germany
|
|
|---|---|---|
Current account balance
|
-$2.01B
2024 |
$264B
2024 |
| Current account balance ranking |
142/189
2024 |
2/189
2024 |
| Current account balance, % of GDP |
-1.79%
2024 |
+5.67%
2024 |
| Goods imports |
$51.8B
2024 |
$1.21T
2024 |
| Goods exports |
$46B
2024 |
$1.47T
2024 |
| Service imports |
$8.2B
2024 |
$551B
2024 |
| Service exports |
$16.6B
2024 |
$470B
2024 |
| Imports of goods and services, % of GDP |
53.5%
2024 |
38.2%
2024 |
| Exports of goods and services, % of GDP |
55.8%
2024 |
42.1%
2024 |
Economic freedom indices
The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.
|
Bulgaria
|
Germany
|
|
|---|---|---|
| Economic freedom | 68.8 | 71.6 |
| Economic freedom ranking | 43/197 | 28/197 |
| Property rights | 75.7 | 95.4 |
| Government integrity | 48.5 | 86 |
| Judicial effectiveness | 56.6 | 93.5 |
| Tax burden | 94.2 | 60.5 |
| Government spending | 56.7 | 26.9 |
| Fiscal health | 91.1 | 81.1 |
| Business freedom | 74.9 | 83.7 |
| Labor freedom | 68 | 53.3 |
| Monetary freedom | 70.8 | 69 |
| Trade freedom | 79.6 | 79.6 |
| Investment freedom | 60 | 60 |
| Financial freedom | 50 | 70 |
Economic freedom by year comparison
The Economic Freedom Index for Bulgaria is 68.8, ranking 43/197, compared to 71.6 for Germany, ranking 28/197. The chart below displays a comparison of annual changes in economic freedom indexes.
| Year | Economic freedom index | |
|---|---|---|
|
Bulgaria
|
Germany
|
|
| 1995 | 50 | 69.8 |
| 1996 | 48.6 | 69.1 |
| 1997 | 47.6 | 67.5 |
| 1998 | 45.7 | 64.3 |
| 1999 | 46.2 | 65.6 |
| 2000 | 47.3 | 65.7 |
| 2001 | 51.9 | 69.5 |
| 2002 | 57.1 | 70.4 |
| 2003 | 57 | 69.7 |
| 2004 | 59.2 | 69.5 |
| 2005 | 62.3 | 68.1 |
| 2006 | 64.1 | 70.8 |
| 2007 | 62.7 | 70.8 |
| 2008 | 63.7 | 70.6 |
| 2009 | 64.6 | 70.5 |
| 2010 | 62.3 | 71.1 |
| 2011 | 64.9 | 71.8 |
| 2012 | 64.7 | 71 |
| 2013 | 65 | 72.8 |
| 2014 | 65.7 | 73.4 |
| 2015 | 66.8 | 73.8 |
| 2016 | 65.9 | 74.4 |
| 2017 | 67.9 | 73.8 |
| 2018 | 68.3 | 74.2 |
| 2019 | 69 | 73.5 |
| 2020 | 70.2 | 73.5 |
| 2021 | 70.4 | 72.5 |
| 2022 | 71 | 76.1 |
| 2023 | 69.3 | 73.7 |
| 2024 | 68.5 | 72.1 |
| 2025 | 68.8 | 71.6 |
More economic indicators
|
Bulgaria
|
Germany
|
|
|---|---|---|
| Services, % of GDP |
62.6%
2024 |
63.9%
2024 |
| Industry, % of GDP |
22.5%
2024 |
25.8%
2024 |
| Agriculture, forestry, and fishing, % of GDP |
2.07%
2024 |
0.83%
2024 |
|
GNI, Atlas method
|
$98.7B
2024 |
$4.59T
2024 |
| GNI per capita, PPP |
$39,130
2024 |
$74,880
2024 |
| Total reserves including gold |
$43.7B
2024 |
$378B
2024 |
| Total reserves ranking |
47/177
2024 |
10/177
2024 |
|
Net foreign direct investment
|
-$2.47B
2024 |
$32.6B
2024 |
|
Net inflows of foreign direct investment
|
$3.5B
2024 |
$47.6B
2024 |
|
Net outflows of foreign direct investment
|
$1.03B
2024 |
$80.2B
2024 |
| Poverty at national poverty lines |
21.7%
2023 |
14.8%
2021 |
|
Gross capital formation, % of GDP
|
20.4%
2024 |
21%
2024 |
GDP per capita map
GDP per capita
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Economy comparisons
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.
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.