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Economy of Bulgaria vs Kenya compared: GDP & Debt

Updated on by Georank team

Bulgaria has a GDP of $113B compared to $120B for Kenya, ranking 67/197 and 64/197 by economy size, respectively.

Bulgaria has $27.3B in government debt (24.1% of GDP), compared to $81B (67.3% of GDP) in Kenya.

Bulgaria vs Kenya GDP by year

Bulgaria
Kenya
1x
Year GDP, current $
Bulgaria Kenya
2024 $113,343,355,780 $120,339,557,906
2023 $102,199,231,385 $107,500,884,685
2022 $90,506,153,294 $114,448,978,153
2021 $84,374,613,233 $109,703,658,905
2020 $70,486,877,546 $100,657,505,751
2019 $68,507,731,354 $100,378,436,207
2018 $66,097,226,262 $92,202,979,985
2017 $59,167,647,388 $82,036,510,877
2016 $53,929,397,039 $74,815,144,164
2015 $50,765,918,159 $70,120,446,897
2014 $57,080,897,012 $68,285,796,514
2013 $55,819,262,375 $61,671,440,408
2012 $54,297,052,002 $56,396,704,672
2011 $57,681,293,007 $46,869,473,151
2010 $50,689,051,382 $45,405,615,064
2009 $52,023,801,230 $42,347,217,913
2008 $54,480,684,188 $35,895,153,328
2007 $44,431,257,129 $31,958,195,182
2006 $34,380,536,496 $25,825,512,284
2005 $29,868,657,858 $18,737,895,513
2004 $26,157,743,369 $16,095,337,094
2003 $21,144,957,990 $14,904,517,650
2002 $16,403,043,850 $13,147,736,899
2001 $14,183,446,026 $12,986,007,426
2000 $13,245,990,274 $12,705,350,098
1999 $13,637,098,579 $12,896,010,459
1998 $15,031,055,047 $14,093,998,844
1997 $11,316,127,379 $13,115,764,358
1996 $12,294,964,838 $12,045,865,396
1995 $18,991,484,420 $9,046,320,255
1994 $9,709,240,034 $7,148,148,564
1993 $10,832,064,942 $5,751,786,643
1992 $8,602,887,623 $8,209,120,763
1991 $7,628,738,475 $8,151,488,783
1990 $20,632,090,909 $8,572,359,038
1989 $21,988,444,444 $8,283,114,514
1988 $22,555,941,176 $8,355,380,879
1987 $28,101,000,000 $7,970,820,369
1986 $20,249,294,118 $7,239,126,568
1985 $17,155,421,053 $6,135,034,214
1984 $17,594,944,444 $6,191,437,070
1983 $16,563,666,667 $5,979,198,314
1982 $19,342,000,000 $6,431,579,357
1981 $19,870,000,000 $6,854,491,706
1980 $19,839,230,769 $7,265,315,820
1979 - $6,234,391,113
1978 - $5,303,735,111
1977 - $4,494,378,764
1976 - $3,474,542,392
1975 - $3,259,345,083
1974 - $2,969,958,812
1973 - $2,509,001,324
1972 - $2,107,279,157
1971 - $1,778,391,289
1970 - $1,603,447,359
1969 - $1,458,379,417
1968 - $1,353,295,459
1967 - $1,232,559,507
1966 - $1,164,519,674
1965 - $997,919,321
1964 - $998,759,334
1963 - $926,589,349
1962 - $868,111,401
1961 - $792,959,473
1960 - $791,265,459

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

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

GDP per capita in Bulgaria vs Kenya by year

Bulgaria
GDP per capita

GDP per capita, PPP
Kenya
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bulgaria Kenya
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $17,596 $41,969 $2,132 $6,644
2023 $15,853 $38,829 $1,943 $6,317
2022 $13,999 $36,320 $2,110 $5,883
2021 $12,966 $30,959 $2,061 $5,339
2020 $10,760 $27,352 $1,928 $4,793
2019 $10,354 $26,766 $1,960 $4,687
2018 $9,849 $23,998 $1,836 $4,412
2017 $8,697 $22,317 $1,667 $4,177
2016 $7,822 $20,746 $1,554 $3,917
2015 $7,269 $18,896 $1,489 $3,678
2014 $8,070 $17,991 $1,483 $3,359
2013 $7,796 $16,894 $1,371 $3,106
2012 $7,432 $16,327 $1,285 $2,847
2011 $7,850 $15,747 $1,096 $2,750
2010 $6,854 $14,954 $1,092 $2,635
2009 $6,988 $14,188 $1,048 $2,480
2008 $7,271 $14,347 $916 $2,459
2007 $5,889 $12,822 $840 $2,481
2006 $4,523 $11,406 $700 $2,330
2005 $3,900 $10,291 $523 $2,189
2004 $3,390 $9,200 $464 $2,066
2003 $2,719 $8,416 $443 $1,975
2002 $2,093 $7,786 $403 $1,940
2001 $1,771 $6,960 $411 $1,961
2000 $1,621 $6,424 $415 $1,907
1999 $1,661 $5,808 $434 $1,910
1998 $1,820 $6,178 $488 $1,895
1997 $1,361 $5,751 $467 $1,865
1996 $1,470 $6,849 $441 $1,875
1995 $2,259 $7,743 $340 $1,818
1994 $1,150 $7,338 $276.4 $1,754
1993 $1,279 $7,032 $229 $1,723
1992 $1,007 $6,917 $337 $1,728
1991 $884 $7,215 $345 $1,756
1990 $2,367 $7,548 $374 $1,729
1989 $2,477 - $374 -
1988 $2,511 - $391 -
1987 $3,132 - $387 -
1986 $2,260 - $364 -
1985 $1,915 - $320 -
1984 $1,964 - $334 -
1983 $1,853 - $335 -
1982 $2,169 - $374 -
1981 $2,235 - $413 -
1980 $2,239 - $454 -
1979 - - $403 -
1978 - - $355 -
1977 - - $311 -
1976 - - $248.9 -
1975 - - $241.2 -
1974 - - $227.2 -
1973 - - $198.6 -
1972 - - $172.6 -
1971 - - $150.9 -
1970 - - $141 -
1969 - - $133.3 -
1968 - - $128.7 -
1967 - - $121.9 -
1966 - - $119.8 -
1965 - - $106.9 -
1964 - - $111.3 -
1963 - - $107.4 -
1962 - - $104.6 -
1961 - - $99.3 -
1960 - - $102.8 -

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

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

Bulgaria's GDP per capita is $17,596, ranking 64/197, compared to $2,132 in Kenya, ranking 154/197. Adjusted for purchasing power (GDP per capita PPP), Bulgaria ranks 54th at $41,969, while Kenya ranks 149th at $6,644.

Economic indicators

Bulgaria Kenya
Gross domestic product
$113B
2024
$120B
2024
GDP rank
67/197
2024
64/197
2024
GDP growth
3.39%
2023-2024
4.72%
2023-2024
GDP per capita
$17,596
2024
$2,132
2024
GDP per capita rank
64/197
2024
154/197
2024
GDP per capita, PPP
$41,969
2024
$6,644
2024
GDP per capita PPP rank
54/197
2024
149/197
2024
Government debt
$27.3B
2024
$81B
2024
Debt-to-GDP ratio
24.1%
2024
67.3%
2024
Government debt per person
$4,237
2024
$1,436
2024
Government debt per person rank
90/185
2024
133/185
2024
Average annual personal income after taxes
$14,263
2026
$3,229
2026
Market capitalization of domestic companies
$8.41B
2024
$15B
2024
Number of billionaires
2
2025
n/a
Income share by richest 10%
31.1%
2023
30.1%
2022
Income share by poorest 10%
2.1%
2023
2.9%
2022
Government expenditure, % of GDP
36.7%
2024
23.3%
2024
Consumer prices inflation
2.6%
2023-2024
4.49%
2023-2024
Central bank interest rate
1.81%
2025
9.25%
2025
Unemployment rate
4.17%
2024
5.44%
2022
Population
6359449
58955623

Spending and national debt comparison by year

Bulgaria
Spending

Debt
Kenya
Spending

Debt
1x
Year % of GDP
Bulgaria Kenya
Government spending Government debt Government spending Government debt
2024 36.7% 24.1% 23.3% 67.3%
2023 37.4% 22.9% 22.7% 73.4%
2022 37.6% 22.5% 23.2% 67.8%
2021 38.4% 23.8% 24% 68.2%
2020 37.6% 22.7% 24.8% 68%
2019 36% 18.4% 24.4% 59.1%
2018 34.4% 20.1% 24.5% 56.4%
2017 32% 22.9% 25.2% 53.9%
2016 32.7% 27% 25.4% 50.4%
2015 37.3% 25.4% 23.8% 45.8%
2014 37.1% 26.3% 23.4% 41.3%
2013 35.5% 17.2% 23.2% 39.8%
2012 32.5% 16.5% 22.1% 37.6%
2011 32% 14.3% 20.1% 35.7%
2010 34.6% 14.1% 21.5% 36.7%
2009 33.8% 14.5% 20.3% 36%
2008 33.5% 14.7% 18.9% 34.3%
2007 33.1% 17.6% 18.1% 34.2%
2006 32.5% 22.6% 17.3% 37.1%
2005 34% 28.5% 16.2% 37.4%
2004 34.6% 37.8% 15.4% 40.8%
2003 35.8% 45.4% 16% 43.8%
2002 35.1% 53.4% 15.7% 42%
2001 36.5% 67.1% 14.9% 41.3%
2000 37.1% 73.3% 14.1% 43.1%
1999 36.2% 78.7% 13.7% 38.4%
1998 30.6% 67.3% 15.3% 38.5%
1997 32.9% 88.4% 15.6% 36%
1996 44% 113.8% 15.2% 40.5%
1995 45.4% 72% 17.3% 52.1%
1994 - - 18.8% 57%
1993 - - 18.9% 61.6%
1992 - - 17.6% 41.2%
1991 - - 16.4% 43%
1990 - - 17.2% 37.6%
1989 - - 16.3% 33.4%
1988 - - 15.9% 33.9%
1987 - - 15.5% 36.3%
1986 - - 15.3% 31.3%
1985 - - 15.6% 28.8%
1984 - - 14.9% 25.6%
1983 - - 14.6% 26.1%
1982 - - 16.2% 26.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1997, retrieved 2026-02-20).

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

In 2024, Bulgaria's government spending was $41.5B, accounting for 36.7% of its GDP, while Kenya spent $28B, or 23.3% of GDP.

Debt-to-GDP ratio is 24.1% in Bulgaria and 67.3% in Kenya, ranking 169/185 and 64/185, respectively.

Government deficit by year

Deficit/surplus
Bulgaria

Kenya
1x
Year Deficit/surplus, % of GDP
Bulgaria Kenya
2024 -3.04% -5.77%
2023 -3.03% -5.71%
2022 -0.8% -6.06%
2021 -2.8% -7.2%
2020 -2.92% -8.13%
2019 -0.96% -7.42%
2018 0.12% -6.94%
2017 0.82% -7.4%
2016 1.54% -7.47%
2015 -2.77% -6.68%
2014 -3.65% -5.75%
2013 -1.75% -5.25%
2012 -0.43% -5.29%
2011 -1.83% -3.64%
2010 -3.77% -3.67%
2009 -0.86% -3.12%
2008 2.73% -1.95%
2007 3.09% -0.95%
2006 3.22% -0.43%
2005 2.19% -0.19%
2004 1.59% 0.5%
2003 0.003% -0.73%
2002 -0.61% -1.29%
2001 -0.58% -0.53%
2000 -0.6% 0.38%
1999 0.15% 0.84%
1998 1.08% -0.03%
1997 0.83% -0.91%
1996 -10.1% -0.49%
1995 -7.98% -0.23%
1994 - -4.14%
1993 - -8.57%
1992 - -8.28%
1991 - -6.56%
1990 - -3.28%
1989 - -2.39%
1988 - -1.97%
1987 - -2.27%
1986 - -2.98%
1985 - -3.05%
1984 - -2.55%
1983 - -2.17%
1982 - -3.07%
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/kenya | 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 Kenya's deficit of $6.94B, or 5.77% of GDP.

Over the past 30 years, Bulgaria recorded a fiscal deficit in 18 of those years, while Kenya ran a deficit in 27 years. On average, Bulgaria posted an annual deficit equal to 1.04% of GDP, compared to deficit of 3.38% of GDP for Kenya.

Inflation comparison by year

Inflation
Bulgaria

Kenya
1x
Year Consumer prices inflation
Bulgaria Kenya
2024 2.6% 4.49%
2023 8.6% 7.67%
2022 13% 7.66%
2021 2.8% 6.11%
2020 1.2% 5.41%
2019 2.5% 5.24%
2018 2.6% 4.69%
2017 1.2% 8.01%
2016 -1.3% 6.3%
2015 -1.1% 6.58%
2014 -1.6% 6.88%
2013 0.4% 5.72%
2012 2.4% 9.38%
2011 3.4% 14%
2010 3% 3.96%
2009 2.5% 9.23%
2008 12% 26.2%
2007 7.6% 9.76%
2006 7.4% 14.5%
2005 6% 10.3%
2004 6.1% 11.6%
2003 2.3% 9.82%
2002 5.8% 1.96%
2001 7.4% 5.74%
2000 10.3% 9.98%
1999 2.6% 5.74%
1998 18.7% 6.72%
1997 1,061% 11.4%

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/kenya | CC BY

Over the past 28 years, Bulgaria has recorded an average annual inflation rate of 42.5%, compared with 8.39% in Kenya. In 2024, inflation was 2.6% in Bulgaria and 4.49% in Kenya.

Top exports between countries

Bulgaria
Export category Export value
Wood & paper products $743K
Processed food, beverages & tobacco $639K
Machinery & equipment $366K
Textiles & consumer goods $348K
Chemicals & pharma $297K
Metals $265K
Raw materials & minerals $104K
Raw agricultural goods $46K
Precious metals & jewellery $16K
Miscellaneous $6K
Kenya
Export category Export value
Raw agricultural goods $440K
Processed food, beverages & tobacco $289K
Machinery & equipment $111K
Textiles & consumer goods $72K
Wood & paper products $19K
Raw materials & minerals $5K
Chemicals & pharma $3K
Precious metals & jewellery $1K

Balance of trade

Bulgaria Kenya
Current account balance
-$1.74B
2024
-$1.55B
2024
Current account balance ranking
138/190
2024
134/190
2024
Current account balance, % of GDP
-1.54%
2024
-1.29%
2024
Goods imports
$52.8B
2024
$22.2B
2024
Goods exports
$47.3B
2024
$12.5B
2024
Service imports
$8.26B
2024
$5.64B
2024
Service exports
$16.6B
2024
$8.04B
2024
Imports of goods and services, % of GDP
53.9%
2024
23.1%
2024
Exports of goods and services, % of GDP
56.4%
2024
17.1%
2024

Economic freedom indices

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

Bulgaria Kenya
Economic freedom 68.9 55.5
Economic freedom ranking 44/197 128/197
Property rights 75.8 40.2
Government integrity 48.4 32.7
Judicial effectiveness 58.5 47
Tax burden 89.1 76.3
Government spending 58.4 84.1
Fiscal health 90.4 36.2
Business freedom 78.2 61.5
Labor freedom 62.4 56.5
Monetary freedom 75.8 75.1
Trade freedom 79.4 52
Investment freedom 60 55
Financial freedom 50 50

Economic freedom comparison by year

Bulgaria
Kenya
1x
Year Economic freedom index
Bulgaria Kenya
2026 68.9 55.5
2025 68.8 54.8
2024 68.5 53.6
2023 69.3 52.5
2022 71 52.6
2021 70.4 54.9
2020 70.2 55.3
2019 69 55.1
2018 68.3 54.7
2017 67.9 53.5
2016 65.9 57.5
2015 66.8 55.6
2014 65.7 57.1
2013 65 55.9
2012 64.7 57.5
2011 64.9 57.4
2010 62.3 57.5
2009 64.6 58.7
2008 63.7 59.3
2007 62.7 59.6
2006 64.1 59.7
2005 62.3 57.9
2004 59.2 57.7
2003 57 58.6
2002 57.1 58.2
2001 51.9 57.6
2000 47.3 59.7
1999 46.2 58.2
1998 45.7 58.4
1997 47.6 60.1
1996 48.6 56.4
1995 50 54.5

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

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

The Economic Freedom Index for Bulgaria is 68.9, ranking 44/197, compared to 55.5 for Kenya, ranking 128/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bulgaria Kenya
Services, % of GDP
63.8%
2024
55.3%
2024
Industry, % of GDP
21.1%
2024
16.5%
2024
Agriculture, forestry, and fishing, % of GDP
2.35%
2024
22.5%
2024
GNI, Atlas method
$99B
2024
$118B
2024
GNI per capita, PPP
$39,850
2024
$6,540
2024
Total reserves including gold
$43.7B
2024
$10.1B
2024
Total reserves ranking
47/177
2024
75/177
2024
Net foreign direct investment
-$2.22B
2024
-$45.8M
2024
Net inflows of foreign direct investment
$3.55B
2024
$463M
2024
Net outflows of foreign direct investment
$1.13B
2024
$418M
2024
Servicing debt to the IMF, % of GNI
6.8%
2024
4.79%
2024
Poverty at national poverty lines
21.7%
2023
39.8%
2022
Gross capital formation, % of GDP
20.4%
2024
16.8%
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/kenya | 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)

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.