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Economy of Bulgaria vs Iran compared: GDP & Debt

Updated on by Georank team

Bulgaria has a GDP of $113B compared to $475B for Iran, ranking 67/197 and 34/197 by economy size, respectively.

Bulgaria has $27.3B in government debt (24.1% of GDP), compared to $162B (34% of GDP) in Iran.

Bulgaria vs Iran GDP by year

Bulgaria
Iran
1x
Year GDP, current $
Bulgaria Iran
2024 $113,343,355,780 $475,252,089,215
2023 $102,199,231,385 $457,510,482,317
2022 $90,506,153,294 $422,662,261,526
2021 $84,374,613,233 $407,350,685,583
2020 $70,486,877,546 $280,934,329,280
2019 $68,507,731,354 $347,988,400,958
2018 $66,097,226,262 $411,903,303,606
2017 $59,167,647,388 $510,239,893,418
2016 $53,929,397,039 $478,618,064,871
2015 $50,765,918,159 $409,191,686,497
2014 $57,080,897,012 $462,284,793,281
2013 $55,819,262,375 $500,399,839,840
2012 $54,297,052,002 $644,019,315,004
2011 $57,681,293,007 $629,082,257,472
2010 $50,689,051,382 $487,069,570,464
2009 $52,023,801,230 $414,059,094,949
2008 $54,480,684,188 $406,070,949,554
2007 $44,431,257,129 $349,736,591,832
2006 $34,380,536,496 $265,602,187,404
2005 $29,868,657,858 $224,970,371,325
2004 $26,157,743,369 $187,754,571,248
2003 $21,144,957,990 $151,911,222,119
2002 $16,403,043,850 $128,626,917,504
2001 $14,183,446,026 $126,878,750,296
2000 $13,245,990,274 $109,591,707,802
1999 $13,637,098,579 $113,848,450,088
1998 $15,031,055,047 $110,276,913,363
1997 $11,316,127,379 $113,919,163,421
1996 $12,294,964,838 $120,403,931,885
1995 $18,991,484,420 $96,419,225,744
1994 $9,709,240,034 $71,841,461,173
1993 $10,832,064,942 $63,743,623,232
1992 $8,602,887,623 $119,768,691,217
1991 $7,628,738,475 $131,637,664,958
1990 $20,632,090,909 $124,813,263,926
1989 $21,988,444,444 $120,496,362,916
1988 $22,555,941,176 $123,057,861,334
1987 $28,101,000,000 $134,009,995,923
1986 $20,249,294,118 $209,094,561,833
1985 $17,155,421,053 $180,183,629,600
1984 $17,594,944,444 $162,276,728,620
1983 $16,563,666,667 $156,365,156,618
1982 $19,342,000,000 $125,948,756,439
1981 $19,870,000,000 $100,499,312,750
1980 $19,839,230,769 $94,362,275,580
1979 - $90,391,877,326
1978 - $77,994,316,621
1977 - $80,600,122,702
1976 - $68,055,295,081
1975 - $51,776,222,350
1974 - $46,209,092,072
1973 - $27,081,698,250
1972 - $17,153,463,263
1971 - $13,731,802,833
1970 - $10,976,245,154
1969 - $9,743,089,607
1968 - $8,623,172,960
1967 - $7,555,383,690
1966 - $6,789,938,672
1965 - $6,197,319,929
1964 - $5,379,845,648
1963 - $4,928,628,018
1962 - $4,693,566,416
1961 - $4,426,949,095
1960 - $4,199,134,390

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

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

GDP per capita in Bulgaria vs Iran by year

Bulgaria
GDP per capita

GDP per capita, PPP
Iran
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bulgaria Iran
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $17,596 $41,969 $5,190 $19,874
2023 $15,853 $38,829 $5,049 $18,917
2022 $13,999 $36,320 $4,721 $17,546
2021 $12,966 $30,959 $4,605 $15,884
2020 $10,760 $27,352 $3,203 $15,119
2019 $10,354 $26,766 $3,997 $13,928
2018 $9,849 $23,998 $4,783 $15,324
2017 $8,697 $22,317 $6,001 $15,719
2016 $7,822 $20,746 $5,711 $15,195
2015 $7,269 $18,896 $4,953 $14,274
2014 $8,070 $17,991 $5,672 $16,065
2013 $7,796 $16,894 $6,223 $16,215
2012 $7,432 $16,327 $8,114 $17,021
2011 $7,850 $15,747 $8,026 $19,275
2010 $6,854 $14,954 $6,291 $18,628
2009 $6,988 $14,188 $5,416 $17,615
2008 $7,271 $14,347 $5,377 $17,549
2007 $5,889 $12,822 $4,688 $17,384
2006 $4,523 $11,406 $3,619 $15,907
2005 $3,900 $10,291 $3,132 $15,016
2004 $3,390 $9,200 $2,672 $14,425
2003 $2,719 $8,416 $2,209 $13,755
2002 $2,093 $7,786 $1,891 $12,554
2001 $1,771 $6,960 $1,881 $11,533
2000 $1,621 $6,424 $1,650 $11,187
1999 $1,661 $5,808 $1,740 $10,489
1998 $1,820 $6,178 $1,709 $10,285
1997 $1,361 $5,751 $1,790 $10,101
1996 $1,470 $6,849 $1,915 $9,916
1995 $2,259 $7,743 $1,550 $9,255
1994 $1,150 $7,338 $1,168 $8,951
1993 $1,279 $7,032 $1,038 $8,933
1992 $1,007 $6,917 $1,957 $8,888
1991 $884 $7,215 $2,194 $8,580
1990 $2,367 $7,548 $2,138 $7,566
1989 $2,477 - $2,125 -
1988 $2,511 - $2,234 -
1987 $3,132 - $2,513 -
1986 $2,260 - $4,064 -
1985 $1,915 - $3,634 -
1984 $1,964 - $3,395 -
1983 $1,853 - $3,397 -
1982 $2,169 - $2,845 -
1981 $2,235 - $2,393 -
1980 $2,239 - $2,368 -
1979 - - $2,352 -
1978 - - $2,101 -
1977 - - $2,243 -
1976 - - $1,954 -
1975 - - $1,532 -
1974 - - $1,409 -
1973 - - $851 -
1972 - - $555 -
1971 - - $457 -
1970 - - $377 -
1969 - - $345 -
1968 - - $314 -
1967 - - $283.7 -
1966 - - $262.9 -
1965 - - $247.5 -
1964 - - $221.7 -
1963 - - $209.6 -
1962 - - $205.8 -
1961 - - $200.1 -
1960 - - $195.6 -

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

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

Bulgaria's GDP per capita is $17,596, ranking 64/197, compared to $5,190 in Iran, ranking 119/197. Adjusted for purchasing power (GDP per capita PPP), Bulgaria ranks 54th at $41,969, while Iran ranks 97th at $19,874.

Economic indicators

Bulgaria Iran
Gross domestic product
$113B
2024
$475B
2024
GDP rank
67/197
2024
34/197
2024
GDP growth
3.39%
2023-2024
3.66%
2023-2024
GDP per capita
$17,596
2024
$5,190
2024
GDP per capita rank
64/197
2024
119/197
2024
GDP per capita, PPP
$41,969
2024
$19,874
2024
GDP per capita PPP rank
54/197
2024
97/197
2024
Government debt
$27.3B
2024
$162B
2024
Debt-to-GDP ratio
24.1%
2024
34%
2024
Government debt per person
$4,237
2024
$1,764
2024
Government debt per person rank
90/185
2024
122/185
2024
Average annual personal income after taxes
$14,263
2026
$2,964
2026
Market capitalization of domestic companies
$8.41B
2024
$172B
2024
Number of billionaires
2
2025
n/a
Income share by richest 10%
31.1%
2023
28.2%
2023
Income share by poorest 10%
2.1%
2023
2.8%
2023
Government expenditure, % of GDP
36.7%
2024
14.2%
2024
Consumer prices inflation
2.6%
2023-2024
32.5%
2023-2024
Central bank interest rate
1.81%
2025
23%
2023
Unemployment rate
4.17%
2024
7.63%
2024
Population
6359449
93468444

Spending and national debt comparison by year

Bulgaria
Spending

Debt
Iran
Spending

Debt
1x
Year % of GDP
Bulgaria Iran
Government spending Government debt Government spending Government debt
2024 36.7% 24.1% 14.2% 34%
2023 37.4% 22.9% 12.8% 29.6%
2022 37.6% 22.5% 12.8% 34.5%
2021 38.4% 23.8% 13.4% 39.9%
2020 37.6% 22.7% 12.1% 47.1%
2019 36% 18.4% 13.6% 44.6%
2018 34.4% 20.1% 14.8% 41.6%
2017 32% 22.9% 16.4% 43.2%
2016 32.7% 27% 16.3% 45.9%
2015 37.3% 25.4% 14.1% 32.1%
2014 37.1% 26.3% 12.3% 10.9%
2013 35.5% 17.2% 11.5% 10.2%
2012 32.5% 16.5% 11.4% 11.7%
2011 32% 14.3% 14.6% 10.6%
2010 34.6% 14.1% 14.1% 12.8%
2009 33.8% 14.5% 15.7% 11.5%
2008 33.5% 14.7% 16.8% 10.6%
2007 33.1% 17.6% 14.2% 13.5%
2006 32.5% 22.6% 18.7% 15.2%
2005 34% 28.5% 17.9% 18.3%
2004 34.6% 37.8% 15.1% 21.1%
2003 35.8% 45.4% 15.7% 21.9%
2002 35.1% 53.4% 15.6% 23.4%
2001 36.5% 67.1% 13.6% 21%
2000 37.1% 73.3% 13.3% 18.2%
1999 36.2% 78.7% 15.7% 22.2%
1998 30.6% 67.3% 16.9% 29.6%
1997 32.9% 88.4% 17.4% 30.9%
1996 44% 113.8% 17.3% 29.3%
1995 45.4% 72% 21% 31.2%
1994 - - 23% 41.7%
1993 - - 27.2% 25.6%
1992 - - 14.4% 25.2%
1991 - - 14% 29.3%
1990 - - 16.4% 37%
1989 - - 20% 48.8%
1988 - - 23.6% 53.2%
1987 - - 18.6% 48.6%
1986 - - 19% 47.4%
1985 - - 21.6% 8.73%
1984 - - 23.7% 10%
1983 - - 27.5% 35.7%
1982 - - 29.7% 47.7%
1981 - - 33.7% 47.6%
1980 - - 35.8% 35.5%
1979 - - - -
1978 - - - -
1977 - - - 9.23%
1976 - - - 6.92%
1975 - - - 8.81%
1974 - - - 6.68%
1973 - - - 12.8%
1972 - - - 12.7%
1971 - - - 14.2%
1970 - - - 14.1%
1969 - - - -
1968 - - 23.6% -
1967 - - 22.3% -
1966 - - 20.5% -
1965 - - 16.3% 14.9%
1964 - - 15.4% 15.2%
1963 - - 14.8% 12.4%
1962 - - 15.6% 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 (1962–1997, retrieved 2026-02-20).

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

In 2024, Bulgaria's government spending was $41.5B, accounting for 36.7% of its GDP, while Iran spent $67.5B, or 14.2% of GDP.

Debt-to-GDP ratio is 24.1% in Bulgaria and 34% in Iran, ranking 169/185 and 147/185, respectively.

Government deficit by year

Deficit/surplus
Bulgaria

Iran
1x
Year Deficit/surplus, % of GDP
Bulgaria Iran
2024 -3.04% -3.83%
2023 -3.03% -2.54%
2022 -0.8% -2.64%
2021 -2.8% -3.01%
2020 -2.92% -4.87%
2019 -0.96% -4.3%
2018 0.12% -1.59%
2017 0.82% -1.55%
2016 1.54% -1.7%
2015 -2.77% -1.3%
2014 -3.65% -0.91%
2013 -1.75% -0.72%
2012 -0.43% -0.5%
2011 -1.83% -0.66%
2010 -3.77% -0.84%
2009 -0.86% -3.3%
2008 2.73% -4.39%
2007 3.09% -2.41%
2006 3.22% -4.91%
2005 2.19% -2.44%
2004 1.59% -2.45%
2003 0.003% -2.76%
2002 -0.61% -2.88%
2001 -0.58% 0.02%
2000 -0.6% 5.42%
1999 0.15% -0.51%
1998 1.08% -5.03%
1997 0.83% -1.81%
1996 -10.1% -0.75%
1995 -7.98% -2.63%
1994 - -3.36%
1993 - -5.15%
1992 - -0.86%
1991 - -1.64%
1990 - -1.73%
1989 - -4.45%
1988 - -10.3%
1987 - -6.84%
1986 - -7.84%
1985 - -3.74%
1984 - -4.02%
1983 - -6.15%
1982 - -5.55%
1981 - -10.7%
1980 - -14.2%
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -4.57%
1967 - -4%
1966 - -2.63%
1965 - -1.23%
1964 - -0.04%
1963 - 0.26%
1962 - -1.39%
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1924–1997, retrieved 2026-02-20).

GeoRank.org/economy/bulgaria/iran | 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 Iran's deficit of $18.2B, or 3.83% of GDP.

Over the past 30 years, Bulgaria recorded a fiscal deficit in 18 of those years, while Iran ran a deficit in 28 years. On average, Bulgaria posted an annual deficit equal to 1.04% of GDP, compared to deficit of 2.06% of GDP for Iran.

Inflation comparison by year

Inflation
Bulgaria

Iran
1x
Year Consumer prices inflation
Bulgaria Iran
2024 2.6% 32.5%
2023 8.6% 44.6%
2022 13% 43.5%
2021 2.8% 43.4%
2020 1.2% 30.6%
2019 2.5% 39.9%
2018 2.6% 18%
2017 1.2% 8.04%
2016 -1.3% 7.25%
2015 -1.1% 12.5%
2014 -1.6% 16.6%
2013 0.4% 36.6%
2012 2.4% 27.3%
2011 3.4% 26.3%
2010 3% 10.1%
2009 2.5% 13.6%
2008 12% 25.4%
2007 7.6% 17.3%
2006 7.4% 10%
2005 6% 13.4%
2004 6.1% 14.8%
2003 2.3% 16.5%
2002 5.8% 14.3%
2001 7.4% 11.3%
2000 10.3% 14.5%
1999 2.6% 20.1%
1998 18.7% 17.9%
1997 1,061% 17.3%

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/iran | CC BY

Over the past 28 years, Bulgaria has recorded an average annual inflation rate of 42.5%, compared with 21.6% in Iran. In 2024, inflation was 2.6% in Bulgaria and 32.5% in Iran.

Top exports between countries

Bulgaria
Export category Export value
Machinery & equipment $73.2M
Chemicals & pharma $31.1M
Processed food, beverages & tobacco $15.8M
Raw materials & minerals $11.2M
Textiles & consumer goods $6.04M
Wood & paper products $3.58M
Metals $2.62M
Raw agricultural goods $1.57M
Animal & marine products $465K
Miscellaneous $430K
Iran
Export category Export value
Chemicals & pharma $67.3M
Metals $13.7M
Raw agricultural goods $2.88M
Textiles & consumer goods $2.63M
Raw materials & minerals $2.35M
Processed food, beverages & tobacco $1.64M
Machinery & equipment $178K
Wood & paper products $17K

Balance of trade

Bulgaria Iran
Current account balance
-$1.74B
2024
$12.5B
2000
Current account balance ranking
138/190
2024
22/190
2000
Current account balance, % of GDP
-1.54%
2024
+11.4%
2000
Goods imports
$52.8B
2024
$15.2B
2000
Goods exports
$47.3B
2024
$28.3B
2000
Service imports
$8.26B
2024
$2.3B
2000
Service exports
$16.6B
2024
$1.38B
2000
Imports of goods and services, % of GDP
53.9%
2024
28.5%
2024
Exports of goods and services, % of GDP
56.4%
2024
23.6%
2024

Economic freedom indices

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

Bulgaria Iran
Economic freedom 68.9 41.8
Economic freedom ranking 44/197 185/197
Property rights 75.8 20.2
Government integrity 48.4 16.2
Judicial effectiveness 58.5 18.7
Tax burden 89.1 81.3
Government spending 58.4 94.7
Fiscal health 90.4 83.3
Business freedom 78.2 37.4
Labor freedom 62.4 41.8
Monetary freedom 75.8 42.2
Trade freedom 79.4 55.8
Investment freedom 60 5
Financial freedom 50 5

Economic freedom comparison by year

Bulgaria
Iran
1x
Year Economic freedom index
Bulgaria Iran
2026 68.9 41.8
2025 68.8 42.5
2024 68.5 41.2
2023 69.3 42.2
2022 71 42.4
2021 70.4 47.2
2020 70.2 49.2
2019 69 51.1
2018 68.3 50.9
2017 67.9 50.5
2016 65.9 43.5
2015 66.8 41.8
2014 65.7 40.3
2013 65 43.2
2012 64.7 42.3
2011 64.9 42.1
2010 62.3 43.4
2009 64.6 44.6
2008 63.7 45
2007 62.7 45
2006 64.1 45
2005 62.3 50.5
2004 59.2 42.8
2003 57 43.2
2002 57.1 36.4
2001 51.9 35.9
2000 47.3 36.1
1999 46.2 36.8
1998 45.7 36
1997 47.6 34.5
1996 48.6 36.1
1995 50 -

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

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

The Economic Freedom Index for Bulgaria is 68.9, ranking 44/197, compared to 41.8 for Iran, ranking 185/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bulgaria Iran
Services, % of GDP
63.8%
2024
49.8%
2024
Industry, % of GDP
21.1%
2024
36.1%
2024
Agriculture, forestry, and fishing, % of GDP
2.35%
2024
10.8%
2024
GNI, Atlas method
$99B
2024
$469B
2024
GNI per capita, PPP
$39,850
2024
$19,820
2024
Total reserves including gold
$43.7B
2024
$7.69B
1982
Total reserves ranking
47/177
2024
85/177
1982
Net foreign direct investment
-$2.22B
2024
-$39M
2000
Net inflows of foreign direct investment
$3.55B
2024
$1.45B
2024
Net outflows of foreign direct investment
$1.13B
2024
$89.4M
2024
Servicing debt to the IMF, % of GNI
6.8%
2024
0.08%
2024
Poverty at national poverty lines
21.7%
2023
18.7%
2020
Gross capital formation, % of GDP
20.4%
2024
44.3%
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/iran | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1924–1997, 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)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.