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Economy of Bulgaria vs Jamaica compared: GDP & Debt

Updated on by Georank team

Bulgaria has a GDP of $113B compared to $22B for Jamaica, ranking 67/197 and 124/197 by economy size, respectively.

Bulgaria has $27.3B in government debt (24.1% of GDP), compared to $14B (63.4% of GDP) in Jamaica.

Bulgaria vs Jamaica GDP by year

Bulgaria
Jamaica
1x
Year GDP, current $
Bulgaria Jamaica
2024 $113,343,355,780 $22,014,397,090
2023 $102,199,231,385 $21,418,804,320
2022 $90,506,153,294 $18,813,516,805
2021 $84,374,613,233 $15,963,885,376
2020 $70,486,877,546 $15,000,214,216
2019 $68,507,731,354 $17,026,269,263
2018 $66,097,226,262 $16,855,447,986
2017 $59,167,647,388 $15,783,583,237
2016 $53,929,397,039 $14,898,999,754
2015 $50,765,918,159 $14,963,589,916
2014 $57,080,897,012 $13,899,217,680
2013 $55,819,262,375 $14,264,205,153
2012 $54,297,052,002 $14,807,086,556
2011 $57,681,293,007 $14,444,661,522
2010 $50,689,051,382 $13,220,549,908
2009 $52,023,801,230 $12,120,458,115
2008 $54,480,684,188 $13,709,401,520
2007 $44,431,257,129 $12,799,600,047
2006 $34,380,536,496 $11,930,179,090
2005 $29,868,657,858 $11,243,865,778
2004 $26,157,743,369 $10,174,664,854
2003 $21,144,957,990 $9,430,234,811
2002 $16,403,043,850 $9,719,009,495
2001 $14,183,446,026 $9,194,727,831
2000 $13,245,990,274 $9,005,064,475
1999 $13,637,098,579 $8,887,057,997
1998 $15,031,055,047 $8,787,195,622
1997 $11,316,127,379 $8,400,041,724
1996 $12,294,964,838 $7,393,891,921
1995 $18,991,484,420 $6,577,520,643
1994 $9,709,240,034 $5,452,558,947
1993 $10,832,064,942 $5,440,075,676
1992 $8,602,887,623 $3,535,460,090
1991 $7,628,738,475 $4,106,207,649
1990 $20,632,090,909 $4,592,208,087
1989 $21,988,444,444 $4,404,937,853
1988 $22,555,941,176 $3,828,342,820
1987 $28,101,000,000 $3,287,007,322
1986 $20,249,294,118 $2,754,549,582
1985 $17,155,421,053 $2,100,239,019
1984 $17,594,944,444 $2,373,564,549
1983 $16,563,666,667 $3,619,262,277
1982 $19,342,000,000 $3,293,496,312
1981 $19,870,000,000 $2,979,027,966
1980 $19,839,230,769 $2,679,379,372
1979 - $2,425,064,229
1978 - $2,644,527,822
1977 - $3,249,733,140
1976 - $2,966,042,856
1975 - $2,860,442,750
1974 - $2,375,122,375
1973 - $1,905,917,553
1972 - $1,875,146,587
1971 - $1,539,861,816
1970 - $1,404,720,442
1969 - $1,191,239,047
1968 - $1,083,839,133
1967 - $1,148,014,311
1966 - $1,096,759,561
1965 - $972,159,611
1964 - $897,949,001
1963 - $826,706,669
1962 - $777,727,689
1961 - $748,043,501
1960 - $699,064,380

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

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

GDP per capita in Bulgaria vs Jamaica by year

Bulgaria
GDP per capita

GDP per capita, PPP
Jamaica
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bulgaria Jamaica
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $17,596 $41,969 $7,754 $12,890
2023 $15,853 $38,829 $7,542 $12,651
2022 $13,999 $36,320 $6,626 $11,888
2021 $12,966 $30,959 $5,626 $10,431
2020 $10,760 $27,352 $5,299 $9,764
2019 $10,354 $26,766 $6,031 $10,845
2018 $9,849 $23,998 $5,977 $10,753
2017 $8,697 $22,317 $5,605 $10,466
2016 $7,822 $20,746 $5,302 $9,948
2015 $7,269 $18,896 $5,339 $9,476
2014 $8,070 $17,991 $4,975 $9,210
2013 $7,796 $16,894 $5,124 $9,101
2012 $7,432 $16,327 $5,341 $8,831
2011 $7,850 $15,747 $5,233 $8,809
2010 $6,854 $14,954 $4,810 $8,521
2009 $6,988 $14,188 $4,428 $8,580
2008 $7,271 $14,347 $5,030 $8,952
2007 $5,889 $12,822 $4,716 $8,893
2006 $4,523 $11,406 $4,417 $8,577
2005 $3,900 $10,291 $4,184 $8,127
2004 $3,390 $9,200 $3,808 $7,854
2003 $2,719 $8,416 $3,550 $7,593
2002 $2,093 $7,786 $3,681 $7,226
2001 $1,771 $6,960 $3,504 $7,019
2000 $1,621 $6,424 $3,453 $6,816
1999 $1,661 $5,808 $3,432 $6,653
1998 $1,820 $6,178 $3,419 $6,543
1997 $1,361 $5,751 $3,297 $6,682
1996 $1,470 $6,849 $2,929 $6,706
1995 $2,259 $7,743 $2,631 $6,657
1994 $1,150 $7,338 $2,203 $6,435
1993 $1,279 $7,032 $2,221 $6,279
1992 $1,007 $6,917 $1,458 $5,664
1991 $884 $7,215 $1,710 $5,485
1990 $2,367 $7,548 $1,930 $5,106
1989 $2,477 - $1,865 -
1988 $2,511 - $1,632 -
1987 $3,132 - $1,411 -
1986 $2,260 - $1,191 -
1985 $1,915 - $917 -
1984 $1,964 - $1,048 -
1983 $1,853 - $1,619 -
1982 $2,169 - $1,494 -
1981 $2,235 - $1,370 -
1980 $2,239 - $1,249 -
1979 - - $1,144 -
1978 - - $1,262 -
1977 - - $1,569 -
1976 - - $1,450 -
1975 - - $1,417 -
1974 - - $1,193 -
1973 - - $972 -
1972 - - $971 -
1971 - - $809 -
1970 - - $748 -
1969 - - $642 -
1968 - - $591 -
1967 - - $633 -
1966 - - $612 -
1965 - - $549 -
1964 - - $514 -
1963 - - $480 -
1962 - - $458 -
1961 - - $447 -
1960 - - $424 -

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

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

Bulgaria's GDP per capita is $17,596, ranking 64/197, compared to $7,754 in Jamaica, ranking 95/197. Adjusted for purchasing power (GDP per capita PPP), Bulgaria ranks 54th at $41,969, while Jamaica ranks 121st at $12,890.

Economic indicators

Bulgaria Jamaica
Gross domestic product
$113B
2024
$22B
2024
GDP rank
67/197
2024
124/197
2024
GDP growth
3.39%
2023-2024
-0.54%
2023-2024
GDP per capita
$17,596
2024
$7,754
2024
GDP per capita rank
64/197
2024
95/197
2024
GDP per capita, PPP
$41,969
2024
$12,890
2024
GDP per capita PPP rank
54/197
2024
121/197
2024
Government debt
$27.3B
2024
$14B
2024
Debt-to-GDP ratio
24.1%
2024
63.4%
2024
Government debt per person
$4,237
2024
$4,917
2024
Government debt per person rank
90/185
2024
79/185
2024
Average annual personal income after taxes
$14,263
2026
$6,905
2026
Market capitalization of domestic companies
$8.41B
2024
$12.4B
2024
Number of billionaires
2
2025
n/a
Income share by richest 10%
31.1%
2023
29.6%
2021
Income share by poorest 10%
2.1%
2023
2.2%
2021
Government expenditure, % of GDP
36.7%
2024
30.5%
2024
Consumer prices inflation
2.6%
2023-2024
5.41%
2023-2024
Central bank interest rate
1.81%
2025
5.75%
2025
Unemployment rate
4.17%
2024
3.02%
2023
Population
6359449
2834980

Spending and national debt comparison by year

Bulgaria
Spending

Debt
Jamaica
Spending

Debt
1x
Year % of GDP
Bulgaria Jamaica
Government spending Government debt Government spending Government debt
2024 36.7% 24.1% 30.5% 63.4%
2023 37.4% 22.9% 28% 67.3%
2022 37.6% 22.5% 28.4% 73.5%
2021 38.4% 23.8% 29% 90.9%
2020 37.6% 22.7% 29.8% 100.1%
2019 36% 18.4% 27.8% 88.6%
2018 34.4% 20.1% 27.8% 89.2%
2017 32% 22.9% 27.3% 96.7%
2016 32.7% 27% 27% 109.1%
2015 37.3% 25.4% 26.3% 117.6%
2014 37.1% 26.3% 26.5% 136.7%
2013 35.5% 17.2% 26.9% 138.1%
2012 32.5% 16.5% 29.6% 143%
2011 32% 14.3% 31.7% 138.1%
2010 34.6% 14.1% 32.9% 140.1%
2009 33.8% 14.5% 38.6% 141.5%
2008 33.5% 14.7% 34.4% 125.6%
2007 33.1% 17.6% 31.6% 115.3%
2006 32.5% 22.6% 31.2% 118%
2005 34% 28.5% 29.3% 124.5%
2004 34.6% 37.8% 31.5% 120.1%
2003 35.8% 45.4% 32.5% 125.5%
2002 35.1% 53.4% 31.1% 119.1%
2001 36.5% 67.1% 28.5% 107.9%
2000 37.1% 73.3% 26.2% 91.3%
1999 36.2% 78.7% 28.9% 83.5%
1998 30.6% 67.3% 28.3% 75.6%
1997 32.9% 88.4% 28.3% 74.4%
1996 44% 113.8% 27.7% 70.2%
1995 45.4% 72% 23.1% 85.2%
1994 - - 21.5% 90.4%
1993 - - 21.5% 106.2%
1992 - - 20% 100.4%
1991 - - 24.5% 175.1%
1990 - - 25.7% 128.8%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1990–1998, retrieved 2026-02-20).

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

In 2024, Bulgaria's government spending was $41.5B, accounting for 36.7% of its GDP, while Jamaica spent $6.72B, or 30.5% of GDP.

Debt-to-GDP ratio is 24.1% in Bulgaria and 63.4% in Jamaica, ranking 169/185 and 73/185, respectively.

Government deficit by year

Deficit/surplus
Bulgaria

Jamaica
1x
Year Deficit/surplus, % of GDP
Bulgaria Jamaica
2024 -3.04% 0.22%
2023 -3.03% 0.04%
2022 -0.8% 0.27%
2021 -2.8% 0.89%
2020 -2.92% -2.83%
2019 -0.96% 0.85%
2018 0.12% 1.12%
2017 0.82% 0.43%
2016 1.54% -0.19%
2015 -2.77% -0.28%
2014 -3.65% -0.49%
2013 -1.75% 0.12%
2012 -0.43% -4.05%
2011 -1.83% -6.34%
2010 -3.77% -6.27%
2009 -0.86% -11.1%
2008 2.73% -7.43%
2007 3.09% -3.82%
2006 3.22% -4.9%
2005 2.19% -3.3%
2004 1.59% -4.68%
2003 0.003% -5.67%
2002 -0.61% -6.77%
2001 -0.58% -4.89%
2000 -0.6% -0.8%
1999 0.15% -3.53%
1998 1.08% -5.82%
1997 0.83% -6.54%
1996 -10.1% -5.32%
1995 -7.98% 1.6%
1994 - 2.59%
1993 - 2.6%
1992 - 3.11%
1991 - 3.87%
1990 - 2.34%
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 (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/jamaica | 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 Jamaica's surplus of $49.1M, or 0.22% of GDP.

Over the past 30 years, Bulgaria recorded a fiscal deficit in 18 of those years, while Jamaica ran a deficit in 21 years. On average, Bulgaria posted an annual deficit equal to 1.04% of GDP, compared to deficit of 2.98% of GDP for Jamaica.

Inflation comparison by year

Inflation
Bulgaria

Jamaica
1x
Year Consumer prices inflation
Bulgaria Jamaica
2024 2.6% 5.41%
2023 8.6% 6.47%
2022 13% 10.3%
2021 2.8% 5.86%
2020 1.2% 5.23%
2019 2.5% 3.91%
2018 2.6% 3.74%
2017 1.2% 4.38%
2016 -1.3% 2.35%
2015 -1.1% 3.69%
2014 -1.6% 8.27%
2013 0.4% 9.34%
2012 2.4% 6.87%
2011 3.4% 7.56%
2010 3% 12.6%
2009 2.5% 9.59%
2008 12% 22%
2007 7.6% 9.24%
2006 7.4% 8.56%
2005 6% 15.1%
2004 6.1% 13.6%
2003 2.3% 10.1%
2002 5.8% 7.08%
2001 7.4% 6.8%
2000 10.3% 8.17%
1999 2.6% 5.95%
1998 18.7% 8.63%
1997 1,061% 9.66%

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/jamaica | CC BY

Over the past 28 years, Bulgaria has recorded an average annual inflation rate of 42.5%, compared with 8.23% in Jamaica. In 2024, inflation was 2.6% in Bulgaria and 5.41% in Jamaica.

Top exports between countries

Bulgaria
Export category Export value
Processed food, beverages & tobacco $525K
Textiles & consumer goods $176K
Machinery & equipment $139K
Metals $65K
Chemicals & pharma $62K
Wood & paper products $17K
Jamaica
Export category Export value
Machinery & equipment $32K
Raw agricultural goods $6K
Processed food, beverages & tobacco $1K
Textiles & consumer goods $1K

Balance of trade

Bulgaria Jamaica
Current account balance
-$1.74B
2024
$679M
2024
Current account balance ranking
138/190
2024
56/190
2024
Current account balance, % of GDP
-1.54%
2024
+3.08%
2024
Goods imports
$52.8B
2024
$6.07B
2024
Goods exports
$47.3B
2024
$1.87B
2024
Service imports
$8.26B
2024
$3.46B
2024
Service exports
$16.6B
2024
$5.26B
2024
Imports of goods and services, % of GDP
53.9%
2024
52.1%
2019
Exports of goods and services, % of GDP
56.4%
2024
38%
2019

Economic freedom indices

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

Bulgaria Jamaica
Economic freedom 68.9 68.2
Economic freedom ranking 44/197 48/197
Property rights 75.8 66.8
Government integrity 48.4 49.4
Judicial effectiveness 58.5 75.6
Tax burden 89.1 76.3
Government spending 58.4 76
Fiscal health 90.4 92.2
Business freedom 78.2 68.5
Labor freedom 62.4 59.2
Monetary freedom 75.8 74.2
Trade freedom 79.4 70.4
Investment freedom 60 60
Financial freedom 50 50

Economic freedom comparison by year

Bulgaria
Jamaica
1x
Year Economic freedom index
Bulgaria Jamaica
2026 68.9 68.2
2025 68.8 68.7
2024 68.5 68.1
2023 69.3 68.1
2022 71 67.4
2021 70.4 69
2020 70.2 68.5
2019 69 68.6
2018 68.3 69.1
2017 67.9 69.5
2016 65.9 67.5
2015 66.8 67.7
2014 65.7 66.7
2013 65 66.8
2012 64.7 65.1
2011 64.9 65.7
2010 62.3 65.5
2009 64.6 65.2
2008 63.7 65.7
2007 62.7 65.5
2006 64.1 66.4
2005 62.3 67
2004 59.2 66.7
2003 57 67
2002 57.1 61.7
2001 51.9 63.7
2000 47.3 65.5
1999 46.2 64.7
1998 45.7 67.1
1997 47.6 67.7
1996 48.6 66.7
1995 50 64.4

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

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

The Economic Freedom Index for Bulgaria is 68.9, ranking 44/197, compared to 68.2 for Jamaica, ranking 48/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bulgaria Jamaica
Services, % of GDP
63.8%
2024
60%
2024
Industry, % of GDP
21.1%
2024
16.5%
2024
Agriculture, forestry, and fishing, % of GDP
2.35%
2024
7.97%
2024
GNI, Atlas method
$99B
2024
$20.5B
2024
GNI per capita, PPP
$39,850
2024
$12,690
2024
Total reserves including gold
$43.7B
2024
$5.63B
2024
Total reserves ranking
47/177
2024
93/177
2024
Net foreign direct investment
-$2.22B
2024
-$304M
2024
Net inflows of foreign direct investment
$3.55B
2024
$305M
2024
Net outflows of foreign direct investment
$1.13B
2024
$1.07M
2024
Servicing debt to the IMF, % of GNI
6.8%
2024
11.3%
2024
Poverty at national poverty lines
21.7%
2023
8.2%
2023
Gross capital formation, % of GDP
20.4%
2024
22.6%
2019

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/jamaica | 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. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1924–1998, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2021–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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.