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Economy of Bulgaria vs Greece compared: GDP & Debt

Updated on by Georank team

Bulgaria has a GDP of $113B compared to $256B for Greece, ranking 67/197 and 53/197 by economy size, respectively.

Bulgaria has $27.3B in government debt (24.1% of GDP), compared to $397B (154.8% of GDP) in Greece.

Bulgaria vs Greece GDP by year

Bulgaria
Greece
1x
Year GDP, current $
Bulgaria Greece
2024 $113,343,355,780 $256,238,371,778
2023 $102,199,231,385 $242,946,187,738
2022 $90,506,153,294 $217,990,189,601
2021 $84,374,613,233 $218,303,801,895
2020 $70,486,877,546 $191,362,985,555
2019 $68,507,731,354 $207,305,649,887
2018 $66,097,226,262 $213,298,873,494
2017 $59,167,647,388 $200,381,103,984
2016 $53,929,397,039 $193,097,239,006
2015 $50,765,918,159 $194,567,373,678
2014 $57,080,897,012 $233,911,581,521
2013 $55,819,262,375 $236,556,279,641
2012 $54,297,052,002 $238,841,140,018
2011 $57,681,293,007 $283,228,079,776
2010 $50,689,051,382 $296,417,644,404
2009 $52,023,801,230 $326,829,054,686
2008 $54,480,684,188 $351,121,399,546
2007 $44,431,257,129 $314,226,996,944
2006 $34,380,536,496 $269,073,415,334
2005 $29,868,657,858 $242,315,668,619
2004 $26,157,743,369 $234,979,615,898
2003 $21,144,957,990 $196,930,509,813
2002 $16,403,043,850 $150,253,800,086
2001 $14,183,446,026 $132,050,474,720
2000 $13,245,990,274 $125,760,166,225
1999 $13,637,098,579 $137,131,371,955
1998 $15,031,055,047 $139,612,812,176
1997 $11,316,127,379 $138,766,067,640
1996 $12,294,964,838 $142,502,984,145
1995 $18,991,484,420 $134,974,613,914
1994 $9,709,240,034 $114,980,063,202
1993 $10,832,064,942 $107,295,704,518
1992 $8,602,887,623 $114,608,178,405
1991 $7,628,738,475 $103,680,863,713
1990 $20,632,090,909 $96,529,587,274
1989 $21,988,444,444 $78,067,933,277
1988 $22,555,941,176 $75,200,610,137
1987 $28,101,000,000 $64,739,630,096
1986 $20,249,294,118 $55,595,445,472
1985 $17,155,421,053 $47,155,741,426
1984 $17,594,944,444 $47,352,146,312
1983 $16,563,666,667 $48,741,397,059
1982 $19,342,000,000 $53,858,346,939
1981 $19,870,000,000 $51,618,456,335
1980 $19,839,230,769 $56,039,256,595
1979 - $53,724,121,435
1978 - $43,654,480,519
1977 - $35,673,080,481
1976 - $30,719,552,239
1975 - $28,129,128,587
1974 - $24,998,715,909
1973 - $22,037,019,563
1972 - $16,650,659,091
1971 - $14,388,806,818
1970 - $12,957,113,636
1969 - $11,454,106,327
1968 - $9,950,331,206
1967 - $9,146,592,856
1966 - $8,472,021,467
1965 - $7,582,209,670
1964 - $6,576,906,345
1963 - $5,813,285,627
1962 - $5,140,542,929
1961 - $4,892,397,431
1960 - $4,274,890,307

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Bulgaria vs Greece by year

Bulgaria
GDP per capita

GDP per capita, PPP
Greece
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bulgaria Greece
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $17,596 $41,969 $24,626 $44,327
2023 $15,853 $38,829 $23,344 $42,711
2022 $13,999 $36,320 $20,887 $39,612
2021 $12,966 $30,959 $20,655 $33,531
2020 $10,760 $27,352 $17,887 $29,533
2019 $10,354 $26,766 $19,335 $31,927
2018 $9,849 $23,998 $19,873 $29,792
2017 $8,697 $22,317 $18,632 $28,682
2016 $7,822 $20,746 $17,919 $27,505
2015 $7,269 $18,896 $17,981 $26,608
2014 $8,070 $17,991 $21,475 $26,450
2013 $7,796 $16,894 $21,573 $25,731
2012 $7,432 $16,327 $21,624 $24,583
2011 $7,850 $15,747 $25,505 $25,693
2010 $6,854 $14,954 $26,653 $27,839
2009 $6,988 $14,188 $29,425 $29,963
2008 $7,271 $14,347 $31,696 $30,441
2007 $5,889 $12,822 $28,441 $28,896
2006 $4,523 $11,406 $24,416 $28,076
2005 $3,900 $10,291 $22,054 $25,004
2004 $3,390 $9,200 $21,449 $24,826
2003 $2,719 $8,416 $18,021 $23,253
2002 $2,093 $7,786 $13,782 $21,985
2001 $1,771 $6,960 $12,157 $20,304
2000 $1,621 $6,424 $11,638 $18,820
1999 $1,661 $5,808 $12,743 $17,758
1998 $1,820 $6,178 $13,023 $17,434
1997 $1,361 $5,751 $13,016 $16,630
1996 $1,470 $6,849 $13,433 $15,778
1995 $2,259 $7,743 $12,779 $15,218
1994 $1,150 $7,338 $10,937 $14,667
1993 $1,279 $7,032 $10,257 $14,150
1992 $1,007 $6,917 $11,021 $14,130
1991 $884 $7,215 $10,047 $13,824
1990 $2,367 $7,548 $9,467 $13,126
1989 $2,477 - $7,738 -
1988 $2,511 - $7,492 -
1987 $3,132 - $6,474 -
1986 $2,260 - $5,578 -
1985 $1,915 - $4,747 -
1984 $1,964 - $4,785 -
1983 $1,853 - $4,950 -
1982 $2,169 - $5,502 -
1981 $2,235 - $5,305 -
1980 $2,239 - $5,812 -
1979 - - $5,627 -
1978 - - $4,629 -
1977 - - $3,832 -
1976 - - $3,343 -
1975 - - $3,109 -
1974 - - $2,789 -
1973 - - $2,468 -
1972 - - $1,873 -
1971 - - $1,629 -
1970 - - $1,474 -
1969 - - $1,306 -
1968 - - $1,138 -
1967 - - $1,053 -
1966 - - $984 -
1965 - - $887 -
1964 - - $773 -
1963 - - $686 -
1962 - - $608 -
1961 - - $583 -
1960 - - $513 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

Bulgaria's GDP per capita is $17,596, ranking 64/197, compared to $24,626 in Greece, ranking 49/197. Adjusted for purchasing power (GDP per capita PPP), Bulgaria ranks 54th at $41,969, while Greece ranks 52nd at $44,327.

Economic indicators

Bulgaria Greece
Gross domestic product
$113B
2024
$256B
2024
GDP rank
67/197
2024
53/197
2024
GDP growth
3.39%
2023-2024
2.09%
2023-2024
GDP per capita
$17,596
2024
$24,626
2024
GDP per capita rank
64/197
2024
49/197
2024
GDP per capita, PPP
$41,969
2024
$44,327
2024
GDP per capita PPP rank
54/197
2024
52/197
2024
Government debt
$27.3B
2024
$397B
2024
Debt-to-GDP ratio
24.1%
2024
154.8%
2024
Government debt per person
$4,237
2024
$38,119
2024
Government debt per person rank
90/185
2024
16/185
2024
Average annual personal income after taxes
$14,263
2026
$14,396
2026
Market capitalization of domestic companies
$8.41B
2024
$83.2B
2024
Number of billionaires
2
2025
16
2025
Income share by richest 10%
31.1%
2023
26%
2023
Income share by poorest 10%
2.1%
2023
2.7%
2023
Government expenditure, % of GDP
36.7%
2024
48%
2024
Consumer prices inflation
2.6%
2023-2024
2.74%
2023-2024
Central bank interest rate
1.81%
2025
n/a
Unemployment rate
4.17%
2024
10%
2024
Population
6359449
10181414

Spending and national debt comparison by year

Bulgaria
Spending

Debt
Greece
Spending

Debt
1x
Year % of GDP
Bulgaria Greece
Government spending Government debt Government spending Government debt
2024 36.7% 24.1% 48% 154.8%
2023 37.4% 22.9% 49.5% 165.2%
2022 37.6% 22.5% 52.8% 178.4%
2021 38.4% 23.8% 56.7% 197.8%
2020 37.6% 22.7% 59.3% 209.9%
2019 36% 18.4% 47.6% 183.7%
2018 34.4% 20.1% 48.6% 189.6%
2017 32% 22.9% 48.5% 182.6%
2016 32.7% 27% 50.3% 183.7%
2015 37.3% 25.4% 51.9% 180%
2014 37.1% 26.3% 51.5% 182.8%
2013 35.5% 17.2% 53% 180.5%
2012 32.5% 16.5% 54.9% 164.3%
2011 32% 14.3% 55.1% 175.1%
2010 34.6% 14.1% 53.1% 147.8%
2009 33.8% 14.5% 54.8% 128.5%
2008 33.5% 14.7% 51.5% 110.9%
2007 33.1% 17.6% 47.8% 104.6%
2006 32.5% 22.6% 45.9% 105.3%
2005 34% 28.5% 46.6% 109.9%
2004 34.6% 37.8% 48.8% 105.5%
2003 35.8% 45.4% 47.9% 104.3%
2002 35.1% 53.4% 47.1% 107.9%
2001 36.5% 67.1% 47.5% 110.5%
2000 37.1% 73.3% 48.2% 108.9%
1999 36.2% 78.7% 48% 102.8%
1998 30.6% 67.3% 46.7% 100.8%
1997 32.9% 88.4% 45.1% 102.6%
1996 44% 113.8% 46.1% 103.7%
1995 45.4% 72% 46.6% 100.4%
1994 - - 36.9% 99.7%
1993 - - 38.6% 101.7%
1992 - - 36.9% 81.1%
1991 - - 35.2% 75.7%
1990 - - 38.5% 74.2%
1989 - - 34.8% 60.7%
1988 - - 33.8% 57.9%
1987 - - 34% 53.2%
1986 - - 33.8% 47.8%
1985 - - 34.2% 47.3%
1984 - - 32% 40.6%
1983 - - 30.2% 34.1%
1982 - - 28.7% 29.7%
1981 - - 28.1% 27.1%
1980 - - 24.5% 22.8%
1979 - - 24.1% 22.7%
1978 - - 30.1% 32.3%
1977 - - 30.1% 24.5%
1976 - - 29.1% 23.7%
1975 - - 28.7% 24.1%
1974 - - 25.3% 22.5%
1973 - - 24.3% 22%
1972 - - 26.8% 26.5%
1971 - - 25.8% 25%
1970 - - 25.2% 24.7%
1969 - - 29.7% 25.8%
1968 - - 26.3% 23%
1967 - - 24.6% 21.1%
1966 - - 22.8% 19%
1965 - - 21.7% 16.5%
1964 - - 20.4% 21.3%
1963 - - 19.5% 22.6%
1962 - - 19.7% 16.6%
1961 - - 19.3% 14.4%
1960 - - 20% 13.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1997, retrieved 2026-02-20).

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

In 2024, Bulgaria's government spending was $41.5B, accounting for 36.7% of its GDP, while Greece spent $123B, or 48% of GDP.

Debt-to-GDP ratio is 24.1% in Bulgaria and 154.8% in Greece, ranking 169/185 and 7/185, respectively.

Government deficit by year

Deficit/surplus
Bulgaria

Greece
1x
Year Deficit/surplus, % of GDP
Bulgaria Greece
2024 -3.04% 1.34%
2023 -3.03% -1.35%
2022 -0.8% -2.46%
2021 -2.8% -7.58%
2020 -2.92% -10.3%
2019 -0.96% -0.09%
2018 0.12% 0.78%
2017 0.82% 1.05%
2016 1.54% 0.28%
2015 -2.77% -3.03%
2014 -3.65% -4.29%
2013 -1.75% -4.06%
2012 -0.43% -6.94%
2011 -1.83% -10.5%
2010 -3.77% -11.4%
2009 -0.86% -15.4%
2008 2.73% -10.3%
2007 3.09% -6.81%
2006 3.22% -6.04%
2005 2.19% -6.33%
2004 1.59% -9.05%
2003 0.003% -8.05%
2002 -0.61% -6.2%
2001 -0.58% -5.64%
2000 -0.6% -4.21%
1999 0.15% -6.02%
1998 1.08% -6.48%
1997 0.83% -6.25%
1996 -10.1% -8.35%
1995 -7.98% -9.87%
1994 - -8.48%
1993 - -11.5%
1992 - -10.6%
1991 - -9.63%
1990 - -13.3%
1989 - -11.9%
1988 - -9.63%
1987 - -8.09%
1986 - -8.62%
1985 - -9.56%
1984 - -7.19%
1983 - -6.17%
1982 - -5.49%
1981 - -7.08%
1980 - -2.5%
1979 - -2.34%
1978 - -5.39%
1977 - -5.21%
1976 - -5.05%
1975 - -5.3%
1974 - -4.39%
1973 - -3.71%
1972 - -4.16%
1971 - -3.32%
1970 - -3.24%
1969 - -6.65%
1968 - -3.39%
1967 - -2.59%
1966 - -2.17%
1965 - -2.55%
1964 - -2.89%
1963 - -2.25%
1962 - -2.4%
1961 - -2.69%
1960 - -3.3%
1959 - -2.77%
1958 - -2.27%
1957 - -2.45%
1956 - -0.39%
1955 - -3.57%
1954 - -2.87%
1953 - -3.01%
1952 - -7.21%
1951 - -11.5%
1950 - -12.7%
1949 - -10.4%
1948 - -7.65%
1947 - -
1946 - -
1945 - -
1944 0% -
1943 0% -
1942 -0.3% -
1941 3.96% -
1940 0.75% -
1939 0.72% 0.48%
1938 1% 1.78%
1937 1.41% 1.06%
1936 1.17% 0.95%
1935 1.34% 0.72%
1934 -0.12% 0.88%
1933 -0.56% -2.79%
1932 -2.14% -1.78%
1931 -3.07% -4%
1930 -5.48% -2.23%
1929 -6.67% -18.7%
1928 -1.09% -0.27%
1927 -0.02% 2.65%
1926 -0.25% -
1925 -0.97% -
1924 1.26% -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 - -8.96%
1912 - -7.43%
1911 - -4.61%
1910 - -1.53%
1909 - -2.64%
1908 - -1.54%
1907 - -1.23%
1906 - 0.66%
1905 - 0.91%
1904 - -0.04%
1903 - -0.22%
1902 - -1.67%
1901 - 0.1%
1900 - 0.41%
1899 - 0.86%
1898 - -34.5%
1897 - -8.46%
1896 - 0.82%
1895 - 0.37%
1894 - 2.91%
1893 - 0.14%
1892 - -2.28%
1891 - -6.48%
1890 - -11.2%
1889 - -15.7%
1888 - -3.59%
1887 - -4.88%
1886 - -11.5%
1885 - -12.1%
1884 - -7.16%
1883 - -2.42%
1882 - -1.69%
1881 - -14.5%
1880 - -13.5%

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1880–1997, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

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

In 2024, Bulgaria's government deficit, the difference between spending and revenue, was $3.44B, equivalent to 3.04% of GDP. This compares to Greece's surplus of $3.43B, or 1.34% of GDP.

Over the past 30 years, Bulgaria recorded a fiscal deficit in 18 of those years, while Greece ran a deficit in 26 years. On average, Bulgaria posted an annual deficit equal to 1.04% of GDP, compared to deficit of 5.79% of GDP for Greece.

Inflation comparison by year

Inflation
Bulgaria

Greece
1x
Year Consumer prices inflation
Bulgaria Greece
2024 2.6% 2.74%
2023 8.6% 3.46%
2022 13% 9.65%
2021 2.8% 1.22%
2020 1.2% -1.25%
2019 2.5% 0.25%
2018 2.6% 0.63%
2017 1.2% 1.12%
2016 -1.3% -0.83%
2015 -1.1% -1.74%
2014 -1.6% -1.31%
2013 0.4% -0.92%
2012 2.4% 1.5%
2011 3.4% 3.33%
2010 3% 4.71%
2009 2.5% 1.21%
2008 12% 4.15%
2007 7.6% 2.9%
2006 7.4% 3.2%
2005 6% 3.55%
2004 6.1% 2.9%
2003 2.3% 3.53%
2002 5.8% 3.63%
2001 7.4% 3.37%
2000 10.3% 3.15%
1999 2.6% 2.64%
1998 18.7% 4.77%
1997 1,061% 5.54%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Bulgaria has recorded an average annual inflation rate of 42.5%, compared with 2.4% in Greece. In 2024, inflation was 2.6% in Bulgaria and 2.74% in Greece.

Top exports between countries

Bulgaria
Export category Export value
Processed food, beverages & tobacco $443M
Textiles & consumer goods $384M
Metals $336M
Machinery & equipment $305M
Chemicals & pharma $303M
Transport & tourism services $302M
Raw agricultural goods $256M
Wood & paper products $152M
Raw materials & minerals $130M
Animal & marine products $128M
Greece
Export category Export value
Raw materials & minerals $1.09B
Transport & tourism services $476M
Metals $360M
Processed food, beverages & tobacco $354M
Machinery & equipment $327M
Chemicals & pharma $285M
Textiles & consumer goods $247M
Raw agricultural goods $199M
Animal & marine products $97.1M
Business & finance services $96.2M

Balance of trade

Bulgaria Greece
Current account balance
-$1.74B
2024
-$18.2B
2024
Current account balance ranking
138/190
2024
182/190
2024
Current account balance, % of GDP
-1.54%
2024
-7.11%
2024
Goods imports
$52.8B
2024
$91.2B
2024
Goods exports
$47.3B
2024
$52.6B
2024
Service imports
$8.26B
2024
$31.1B
2024
Service exports
$16.6B
2024
$55.8B
2024
Imports of goods and services, % of GDP
53.9%
2024
47.7%
2024
Exports of goods and services, % of GDP
56.4%
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 Greece
Economic freedom 68.9 63.2
Economic freedom ranking 44/197 82/197
Property rights 75.8 78
Government integrity 48.4 54.8
Judicial effectiveness 58.5 68
Tax burden 89.1 59.9
Government spending 58.4 24.7
Fiscal health 90.4 78.9
Business freedom 78.2 77.8
Labor freedom 62.4 59.7
Monetary freedom 75.8 72.6
Trade freedom 79.4 79.4
Investment freedom 60 55
Financial freedom 50 50

Economic freedom comparison by year

Bulgaria
Greece
1x
Year Economic freedom index
Bulgaria Greece
2026 68.9 63.2
2025 68.8 60.6
2024 68.5 55.1
2023 69.3 56.9
2022 71 61.5
2021 70.4 60.9
2020 70.2 59.9
2019 69 57.7
2018 68.3 57.3
2017 67.9 55
2016 65.9 53.2
2015 66.8 54
2014 65.7 55.7
2013 65 55.4
2012 64.7 55.4
2011 64.9 60.3
2010 62.3 62.7
2009 64.6 60.8
2008 63.7 60.6
2007 62.7 58.7
2006 64.1 60.1
2005 62.3 59
2004 59.2 59.1
2003 57 58.8
2002 57.1 59.1
2001 51.9 63.4
2000 47.3 61
1999 46.2 61
1998 45.7 60.6
1997 47.6 59.6
1996 48.6 60.5
1995 50 61.2

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Bulgaria is 68.9, ranking 44/197, compared to 63.2 for Greece, ranking 82/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bulgaria Greece
Services, % of GDP
63.8%
2024
68%
2024
Industry, % of GDP
21.1%
2024
15%
2024
Agriculture, forestry, and fishing, % of GDP
2.35%
2024
3.77%
2024
GNI, Atlas method
$99B
2024
$236B
2024
GNI per capita, PPP
$39,850
2024
$43,340
2024
Total reserves including gold
$43.7B
2024
$15.2B
2024
Total reserves ranking
47/177
2024
67/177
2024
Net foreign direct investment
-$2.22B
2024
-$4.52B
2024
Net inflows of foreign direct investment
$3.55B
2024
$6.74B
2024
Net outflows of foreign direct investment
$1.13B
2024
$2.22B
2024
Servicing debt to the IMF, % of GNI
6.8%
2024
n/a
Poverty at national poverty lines
21.7%
2023
18.8%
2021
Gross capital formation, % of GDP
20.4%
2024
18.3%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1880–1997, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2023–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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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.