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Economy of Bulgaria vs Kuwait compared: GDP & Debt

Updated on by Georank team

Bulgaria has a GDP of $113B compared to $160B for Kuwait, ranking 67/197 and 59/197 by economy size, respectively.

Bulgaria has $27.3B in government debt (24.1% of GDP), compared to $4.68B (2.92% of GDP) in Kuwait.

Bulgaria vs Kuwait GDP by year

Bulgaria
Kuwait
1x
Year GDP, current $
Bulgaria Kuwait
2024 $113,343,355,780 $160,227,273,053
2023 $102,199,231,385 $165,384,407,116
2022 $90,506,153,294 $183,502,046,694
2021 $84,374,613,233 $148,350,671,489
2020 $70,486,877,546 $111,045,470,606
2019 $68,507,731,354 $140,856,394,861
2018 $66,097,226,262 $138,646,316,351
2017 $59,167,647,388 $120,687,539,806
2016 $53,929,397,039 $109,406,674,125
2015 $50,765,918,159 $114,585,555,689
2014 $57,080,897,012 $162,650,450,685
2013 $55,819,262,375 $174,168,116,535
2012 $54,297,052,002 $174,047,662,680
2011 $57,681,293,007 $154,039,231,246
2010 $50,689,051,382 $115,416,245,242
2009 $52,023,801,230 $105,968,691,905
2008 $54,480,684,188 $147,379,737,230
2007 $44,431,257,129 $114,634,043,362
2006 $34,380,536,496 $101,557,330,723
2005 $29,868,657,858 $80,798,630,137
2004 $26,157,743,369 $59,439,090,601
2003 $21,144,957,990 $47,874,582,232
2002 $16,403,043,850 $38,135,788,414
2001 $14,183,446,026 $34,889,559,870
2000 $13,245,990,274 $37,718,743,480
1999 $13,637,098,579 $30,122,365,849
1998 $15,031,055,047 $25,943,705,784
1997 $11,316,127,379 $30,350,190,704
1996 $12,294,964,838 $31,492,373,309
1995 $18,991,484,420 $27,186,980,647
1994 $9,709,240,034 $24,848,483,838
1993 $10,832,064,942 $23,941,391,391
1992 $8,602,887,623 $19,858,555,215
1991 $7,628,738,475 $11,009,993,703
1990 $20,632,090,909 $18,427,777,778
1989 $21,988,444,444 $24,313,855,653
1988 $22,555,941,176 $20,690,322,153
1987 $28,101,000,000 $22,368,704,134
1986 $20,249,294,118 $17,903,989,745
1985 $17,155,421,053 $21,445,970,614
1984 $17,594,944,444 $21,700,082,753
1983 $16,563,666,667 $20,871,081,080
1982 $19,342,000,000 $21,577,153,356
1981 $19,870,000,000 $25,058,020,338
1980 $19,839,230,769 $28,638,868,356
1979 - $24,749,063,922
1978 - $15,503,557,496
1977 - $14,137,406,741
1976 - $13,132,252,802
1975 - $12,022,811,621
1974 - $13,006,948,296
1973 - $5,408,804,607
1972 - $4,450,537,925
1971 - $3,880,392,195
1970 - $2,873,638,851
1969 - $2,769,198,892
1968 - $2,662,798,935
1967 - $2,441,599,023
1966 - $2,391,199,044
1965 - $2,097,199,161
1964 - $2,071,668,533
1963 - $1,900,895,857
1962 - $1,828,107,503

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

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

GDP per capita in Bulgaria vs Kuwait by year

Bulgaria
GDP per capita

GDP per capita, PPP
Kuwait
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bulgaria Kuwait
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $17,596 $41,969 $32,718 $52,444
2023 $15,853 $38,829 $34,076 $53,025
2022 $13,999 $36,320 $39,982 $55,043
2021 $12,966 $30,959 $34,019 $50,652
2020 $10,760 $27,352 $25,236 $41,462
2019 $10,354 $26,766 $31,708 $50,703
2018 $9,849 $23,998 $32,068 $51,371
2017 $8,697 $22,317 $29,048 $46,566
2016 $7,822 $20,746 $27,324 $41,862
2015 $7,269 $18,896 $29,882 $45,267
2014 $8,070 $17,991 $44,369 $68,337
2013 $7,796 $16,894 $49,651 $76,813
2012 $7,432 $16,327 $52,155 $82,090
2011 $7,850 $15,747 $49,170 $79,037
2010 $6,854 $14,954 $39,212 $75,184
2009 $6,988 $14,188 $37,907 $80,110
2008 $7,271 $14,347 $55,585 $90,337
2007 $5,889 $12,822 $45,709 $91,435
2006 $4,523 $11,406 $42,947 $89,075
2005 $3,900 $10,291 $36,123 $84,968
2004 $3,390 $9,200 $27,552 $77,227
2003 $2,719 $8,416 $22,691 $69,752
2002 $2,093 $7,786 $18,513 $59,713
2001 $1,771 $6,960 $17,374 $58,553
2000 $1,621 $6,424 $19,296 $58,703
1999 $1,661 $5,808 $15,854 $56,406
1998 $1,820 $6,178 $14,067 $58,344
1997 $1,361 $5,751 $16,977 $57,420
1996 $1,470 $6,849 $18,201 $56,913
1995 $2,259 $7,743 $16,168 $57,163
1994 $1,150 $7,338 $14,930 $53,946
1993 $1,279 $7,032 $14,318 $48,482
1992 $1,007 $6,917 $12,146 $36,149
1991 $884 $7,215 $8,147 $23,390
1990 $2,367 $7,548 $10,938 $30,763
1989 $2,477 - $10,965 -
1988 $2,511 - $9,692 -
1987 $3,132 - $10,896 -
1986 $2,260 - $9,077 -
1985 $1,915 - $11,322 -
1984 $1,964 - $11,919 -
1983 $1,853 - $11,965 -
1982 $2,169 - $12,979 -
1981 $2,235 - $15,825 -
1980 $2,239 - $19,032 -
1979 - - $17,386 -
1978 - - $11,567 -
1977 - - $11,238 -
1976 - - $11,141 -
1975 - - $10,882 -
1974 - - $12,527 -
1973 - - $5,532 -
1972 - - $4,836 -
1971 - - $4,486 -
1970 - - $3,552 -
1969 - - $3,695 -
1968 - - $3,872 -
1967 - - $3,887 -
1966 - - $4,176 -
1965 - - $4,024 -
1964 - - $4,379 -
1963 - - $4,445 -
1962 - - $4,748 -

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

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

Bulgaria's GDP per capita is $17,596, ranking 64/197, compared to $32,718 in Kuwait, ranking 37/197. Adjusted for purchasing power (GDP per capita PPP), Bulgaria ranks 54th at $41,969, while Kuwait ranks 40th at $52,444.

Economic indicators

Bulgaria Kuwait
Gross domestic product
$113B
2024
$160B
2024
GDP rank
67/197
2024
59/197
2024
GDP growth
3.39%
2023-2024
-2.56%
2023-2024
GDP per capita
$17,596
2024
$32,718
2024
GDP per capita rank
64/197
2024
37/197
2024
GDP per capita, PPP
$41,969
2024
$52,444
2024
GDP per capita PPP rank
54/197
2024
40/197
2024
Government debt
$27.3B
2024
$4.68B
2024
Debt-to-GDP ratio
24.1%
2024
2.92%
2024
Government debt per person
$4,237
2024
$956
2024
Government debt per person rank
90/185
2024
143/185
2024
Average annual personal income after taxes
$14,263
2026
$23,828
2026
Market capitalization of domestic companies
$8.41B
2024
$141B
2024
Number of billionaires
2
2025
n/a
Income share by richest 10%
31.1%
2023
n/a
Income share by poorest 10%
2.1%
2023
n/a
Government expenditure, % of GDP
36.7%
2024
50.4%
2024
Consumer prices inflation
2.6%
2023-2024
2.9%
2023-2024
Central bank interest rate
1.81%
2025
3.5%
2025
Unemployment rate
4.17%
2024
2.16%
2016
Population
6359449
5100145

Spending and national debt comparison by year

Bulgaria
Spending

Debt
Kuwait
Spending

Debt
1x
Year % of GDP
Bulgaria Kuwait
Government spending Government debt Government spending Government debt
2024 36.7% 24.1% 50.4% 2.92%
2023 37.4% 22.9% 48.3% 3.13%
2022 37.6% 22.5% 39.6% 2.95%
2021 38.4% 23.8% 48.3% 7.2%
2020 37.6% 22.7% 62.9% 10.2%
2019 36% 18.4% 50.3% 10.5%
2018 34.4% 20.1% 51.1% 14.3%
2017 32% 22.9% 51.9% 19.6%
2016 32.7% 27% 54.1% 9.88%
2015 37.3% 25.4% 55.4% 4.6%
2014 37.1% 26.3% 45% 3.43%
2013 35.5% 17.2% 38.4% 3.09%
2012 32.5% 16.5% 38.2% 3.6%
2011 32% 14.3% 39.7% 4.64%
2010 34.6% 14.1% 45.5% 6.16%
2009 33.8% 14.5% 42.9% 6.65%
2008 33.5% 14.7% 40.9% 5.38%
2007 33.1% 17.6% 30.4% 7.05%
2006 32.5% 22.6% 32.3% 7.79%
2005 34% 28.5% 28.8% 10.2%
2004 34.6% 37.8% 35.3% 13.9%
2003 35.8% 45.4% 38.2% 17.2%
2002 35.1% 53.4% 42.8% 21.3%
2001 36.5% 67.1% 41.4% 23%
2000 37.1% 73.3% 29.9% 21.4%
1999 36.2% 78.7% 44.5% 25.5%
1998 30.6% 67.3% 51.7% 25.6%
1997 32.9% 88.4% 43.8% 24.3%
1996 44% 113.8% 42.8% 26.5%
1995 45.4% 72% 52% 34.9%
1994 - - 57.8% 37.7%
1993 - - 58.2% 28.8%
1992 - - 77.6% 27.9%
1991 - - 208.9% 45.3%
1990 - - 122.9% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1995–1997, retrieved 2026-02-20).

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

In 2024, Bulgaria's government spending was $41.5B, accounting for 36.7% of its GDP, while Kuwait spent $80.8B, or 50.4% of GDP.

Debt-to-GDP ratio is 24.1% in Bulgaria and 2.92% in Kuwait, ranking 169/185 and 184/185, respectively.

Government deficit by year

Deficit/surplus
Bulgaria

Kuwait
1x
Year Deficit/surplus, % of GDP
Bulgaria Kuwait
2024 -3.04% 23.8%
2023 -3.03% 28.2%
2022 -0.8% 30%
2021 -2.8% 9.98%
2020 -2.92% 0.14%
2019 -0.96% 13%
2018 0.12% 17.5%
2017 0.82% 15.3%
2016 1.54% 13.1%
2015 -2.77% 16.6%
2014 -3.65% 30%
2013 -1.75% 40.6%
2012 -0.43% 40.7%
2011 -1.83% 38.8%
2010 -3.77% 31.9%
2009 -0.86% 31.3%
2008 2.73% 21.3%
2007 3.09% 37.1%
2006 3.22% 28%
2005 2.19% 38.9%
2004 1.59% 32.5%
2003 0.003% 27.2%
2002 -0.61% 31%
2001 -0.58% 45.2%
2000 -0.6% 52.5%
1999 0.15% 28.2%
1998 1.08% 19.5%
1997 0.83% 29.5%
1996 -10.1% 24.3%
1995 -7.98% 11.7%
1994 - 1.76%
1993 - -3.12%
1992 - -28.1%
1991 - -145%
1990 - -50%
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/kuwait | 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 Kuwait's surplus of $38.1B, or 23.8% of GDP.

Over the past 30 years, Bulgaria recorded a fiscal deficit in 18 of those years, while Kuwait ran a deficit in 0 years. On average, Bulgaria posted an annual deficit equal to 1.04% of GDP, compared to surplus of 26.9% of GDP for Kuwait.

Inflation comparison by year

Inflation
Bulgaria

Kuwait
1x
Year Consumer prices inflation
Bulgaria Kuwait
2024 2.6% 2.9%
2023 8.6% 3.64%
2022 13% 3.98%
2021 2.8% 3.42%
2020 1.2% 2.1%
2019 2.5% 1.09%
2018 2.6% 0.54%
2017 1.2% 2.17%
2016 -1.3% 3.2%
2015 -1.1% 3.27%
2014 -1.6% 2.91%
2013 0.4% 2.68%
2012 2.4% 3.26%
2011 3.4% 4.84%
2010 3% 4.5%
2009 2.5% 4.61%
2008 12% 10.6%
2007 7.6% 5.48%
2006 7.4% 3.06%
2005 6% 4.14%
2004 6.1% 1.25%
2003 2.3% 0.96%
2002 5.8% 0.89%
2001 7.4% 1.3%
2000 10.3% 1.81%
1999 2.6% 2.99%
1998 18.7% 0.13%
1997 1,061% 0.68%

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/kuwait | CC BY

Over the past 28 years, Bulgaria has recorded an average annual inflation rate of 42.5%, compared with 2.94% in Kuwait. In 2024, inflation was 2.6% in Bulgaria and 2.9% in Kuwait.

Top exports between countries

Bulgaria
Export category Export value
Machinery & equipment $4.41M
Textiles & consumer goods $2.45M
Chemicals & pharma $1.32M
Processed food, beverages & tobacco $1.07M
Raw materials & minerals $476K
Metals $415K
Wood & paper products $334K
Raw agricultural goods $322K
Animal & marine products $165K
Precious metals & jewellery $78K
Kuwait
Export category Export value
Chemicals & pharma $2.4M
Machinery & equipment $147K
Metals $31K
Miscellaneous $8K
Textiles & consumer goods $8K
Animal & marine products $2K
Weapons & explosives $2K

Balance of trade

Bulgaria Kuwait
Current account balance
-$1.74B
2024
$46.7B
2024
Current account balance ranking
138/190
2024
15/190
2024
Current account balance, % of GDP
-1.54%
2024
+29.1%
2024
Goods imports
$52.8B
2024
$33.4B
2024
Goods exports
$47.3B
2024
$77.5B
2024
Service imports
$8.26B
2024
$28.1B
2024
Service exports
$16.6B
2024
$12.2B
2024
Imports of goods and services, % of GDP
53.9%
2024
38.3%
2023
Exports of goods and services, % of GDP
56.4%
2024
57.7%
2023

Economic freedom indices

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

Bulgaria Kuwait
Economic freedom 68.9 59.9
Economic freedom ranking 44/197 100/197
Property rights 75.8 42
Government integrity 48.4 47.9
Judicial effectiveness 58.5 43.4
Tax burden 89.1 97.7
Government spending 58.4 36.2
Fiscal health 90.4 99.9
Business freedom 78.2 57.4
Labor freedom 62.4 49.2
Monetary freedom 75.8 68.7
Trade freedom 79.4 75.8
Investment freedom 60 50
Financial freedom 50 50

Economic freedom comparison by year

Bulgaria
Kuwait
1x
Year Economic freedom index
Bulgaria Kuwait
2026 68.9 59.9
2025 68.8 59.9
2024 68.5 58.5
2023 69.3 56.7
2022 71 58.3
2021 70.4 64.1
2020 70.2 63.2
2019 69 60.8
2018 68.3 62.2
2017 67.9 65.1
2016 65.9 62.7
2015 66.8 62.5
2014 65.7 62.3
2013 65 63.1
2012 64.7 62.5
2011 64.9 64.9
2010 62.3 67.7
2009 64.6 65.6
2008 63.7 68.1
2007 62.7 66.4
2006 64.1 66.5
2005 62.3 64.6
2004 59.2 63.6
2003 57 66.7
2002 57.1 65.4
2001 51.9 68.2
2000 47.3 69.7
1999 46.2 69.5
1998 45.7 66.3
1997 47.6 64.8
1996 48.6 66.1
1995 50 -

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

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

The Economic Freedom Index for Bulgaria is 68.9, ranking 44/197, compared to 59.9 for Kuwait, ranking 100/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bulgaria Kuwait
Services, % of GDP
63.8%
2024
55.9%
2024
Industry, % of GDP
21.1%
2024
57.1%
2024
Agriculture, forestry, and fishing, % of GDP
2.35%
2024
0.49%
2024
GNI, Atlas method
$99B
2024
$200B
2024
GNI per capita, PPP
$39,850
2024
$63,270
2024
Total reserves including gold
$43.7B
2024
$50.7B
2024
Total reserves ranking
47/177
2024
41/177
2024
Net foreign direct investment
-$2.22B
2024
$9.71B
2024
Net inflows of foreign direct investment
$3.55B
2024
$615M
2024
Net outflows of foreign direct investment
$1.13B
2024
$10.3B
2024
Servicing debt to the IMF, % of GNI
6.8%
2024
n/a
Poverty at national poverty lines
21.7%
2023
n/a
Gross capital formation, % of GDP
20.4%
2024
17.7%
2023

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/kuwait | CC BY

Compare countries by 7 more topics

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Data sources:

  1. World Bank | Economy & Growth (1962–2024, 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 (1924–1997, 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.