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Economy of Bulgaria vs Libya compared: GDP & Debt

Updated on by Georank team

Bulgaria has a GDP of $113B compared to $48.5B for Libya, ranking 67/197 and 95/197 by economy size, respectively.

Bulgaria vs Libya GDP by year

Bulgaria
Libya
1x
Year GDP, current $
Bulgaria Libya
2024 $113,343,355,780 $48,487,151,215
2023 $102,199,231,385 $44,027,664,915
2022 $90,506,153,294 $43,246,297,922
2021 $84,374,613,233 $35,217,995,647
2020 $70,486,877,546 $46,854,285,441
2019 $68,507,731,354 $69,254,496,472
2018 $66,097,226,262 $76,686,029,772
2017 $59,167,647,388 $67,157,452,182
2016 $53,929,397,039 $49,912,073,701
2015 $50,765,918,159 $48,717,501,321
2014 $57,080,897,012 $57,372,355,592
2013 $55,819,262,375 $75,351,107,029
2012 $54,297,052,002 $92,540,938,129
2011 $57,681,293,007 $48,169,263,294
2010 $50,689,051,382 $75,380,825,062
2009 $52,023,801,230 $60,808,562,033
2008 $54,480,684,188 $86,710,767,415
2007 $44,431,257,129 $68,032,978,391
2006 $34,380,536,496 $60,094,231,607
2005 $29,868,657,858 $47,334,691,241
2004 $26,157,743,369 $33,122,307,692
2003 $21,144,957,990 $26,265,625,000
2002 $16,403,043,850 $20,481,889,764
2001 $14,183,446,026 $34,112,093,927
2000 $13,245,990,274 $38,270,954,138
1999 $13,637,098,579 $35,975,860,857
1998 $15,031,055,047 $27,251,301,398
1997 $11,316,127,379 $30,700,897,875
1996 $12,294,964,838 $27,884,615,385
1995 $18,991,484,420 $25,541,379,187
1994 $9,709,240,034 $28,610,549,763
1993 $10,832,064,942 $30,660,051,911
1992 $8,602,887,623 $33,887,047,909
1991 $7,628,738,475 $31,991,821,265
1990 $20,632,090,909 $28,904,183,602
1989 $21,988,444,444 $25,156,707,899
1988 $22,555,941,176 $24,308,959,591
1987 $28,101,000,000 $26,697,659,335
1986 $20,249,294,118 $24,180,400,959
1985 $17,155,421,053 $31,530,566,324
1984 $17,594,944,444 $29,476,109,153
1983 $16,563,666,667 $33,200,520,140
1982 $19,342,000,000 $33,760,146,991
1981 $19,870,000,000 $36,374,353,880
1980 $19,839,230,769 $40,953,924,949
1979 - $30,536,429,497
1978 - $22,136,422,643
1977 - $22,428,297,108
1976 - $19,096,943,017
1975 - $14,710,912,458
1974 - $15,112,543,717
1973 - $8,625,889,430
1972 - $6,299,395,544
1971 - $5,260,185,125
1970 - $4,601,649,451
1969 - $4,380,987,481
1968 - $3,850,623,095
1967 - $2,726,986,913
1966 - $2,312,438,536
1965 - $1,804,979,680
1964 - $1,341,395,421
1963 - $892,327,911
1962 - $619,725,785
1961 - $443,905,612
1960 - $401,644,249

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

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

GDP per capita in Bulgaria vs Libya by year

Bulgaria
GDP per capita

GDP per capita, PPP
Libya
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bulgaria Libya
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $17,596 $41,969 $6,569 $14,304
2023 $15,853 $38,829 $6,027 $13,847
2022 $13,999 $36,320 $5,987 $12,266
2021 $12,966 $30,959 $4,936 $12,642
2020 $10,760 $27,352 $6,650 $10,955
2019 $10,354 $26,766 $9,963 $16,194
2018 $9,849 $23,998 $11,197 $18,879
2017 $8,697 $22,317 $9,966 $18,026
2016 $7,822 $20,746 $7,526 $16,961
2015 $7,269 $18,896 $7,458 $17,903
2014 $8,070 $17,991 $8,926 $17,510
2013 $7,796 $16,894 $11,952 $21,151
2012 $7,432 $16,327 $14,976 $26,826
2011 $7,850 $15,747 $7,594 $15,698
2010 $6,854 $14,954 $11,601 $30,234
2009 $6,988 $14,188 $9,551 $29,027
2008 $7,271 $14,347 $13,906 $30,812
2007 $5,889 $12,822 $11,145 $30,929
2006 $4,523 $11,406 $10,049 $28,936
2005 $3,900 $10,291 $8,079 $26,903
2004 $3,390 $9,200 $5,774 $23,813
2003 $2,719 $8,416 $4,674 $22,663
2002 $2,093 $7,786 $3,718 $20,061
2001 $1,771 $6,960 $6,313 $20,332
2000 $1,621 $6,424 $7,214 $20,617
1999 $1,661 $5,808 $6,895 $19,769
1998 $1,820 $6,178 $5,301 $19,639
1997 $1,361 $5,751 $6,062 $20,439
1996 $1,470 $6,849 $5,591 $19,392
1995 $2,259 $7,743 $5,205 $18,952
1994 $1,150 $7,338 $5,933 $19,318
1993 $1,279 $7,032 $6,478 $18,904
1992 $1,007 $6,917 $7,303 $19,572
1991 $884 $7,215 $7,040 $20,085
1990 $2,367 $7,548 $6,502 $17,173
1989 $2,477 - $5,793 -
1988 $2,511 - $5,736 -
1987 $3,132 - $6,465 -
1986 $2,260 - $6,019 -
1985 $1,915 - $8,087 -
1984 $1,964 - $7,811 -
1983 $1,853 - $8,927 -
1982 $2,169 - $9,064 -
1981 $2,235 - $10,044 -
1980 $2,239 - $11,960 -
1979 - - $9,443 -
1978 - - $7,252 -
1977 - - $7,783 -
1976 - - $7,018 -
1975 - - $5,721 -
1974 - - $6,214 -
1973 - - $3,727 -
1972 - - $2,830 -
1971 - - $2,443 -
1970 - - $2,210 -
1969 - - $2,175 -
1968 - - $1,972 -
1967 - - $1,437 -
1966 - - $1,251 -
1965 - - $1,001 -
1964 - - $765 -
1963 - - $528 -
1962 - - $382 -
1961 - - $285.3 -
1960 - - $269 -

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

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

Bulgaria's GDP per capita is $17,596, ranking 64/197, compared to $6,569 in Libya, ranking 107/197. Adjusted for purchasing power (GDP per capita PPP), Bulgaria ranks 54th at $41,969, while Libya ranks 118th at $14,304.

Economic indicators

Bulgaria Libya
Gross domestic product
$113B
2024
$48.5B
2024
GDP rank
67/197
2024
95/197
2024
GDP growth
3.39%
2023-2024
1.9%
2023-2024
GDP per capita
$17,596
2024
$6,569
2024
GDP per capita rank
64/197
2024
107/197
2024
GDP per capita, PPP
$41,969
2024
$14,304
2024
GDP per capita PPP rank
54/197
2024
118/197
2024
Government debt
$27.3B
2024
n/a
Debt-to-GDP ratio
24.1%
2024
n/a
Government debt per person
$4,237
2024
n/a
Government debt per person rank
90/185
2024
n/a
Average annual personal income after taxes
$14,263
2026
$3,172
2026
Market capitalization of domestic companies
$8.41B
2024
n/a
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
94.8%
2024
Consumer prices inflation
2.6%
2023-2024
2.13%
2023-2024
Central bank interest rate
1.81%
2025
n/a
Unemployment rate
4.17%
2024
30%
2004
Population
6359449
7559873

Government deficit by year

Deficit/surplus
Bulgaria

Libya
1x
Year Deficit/surplus, % of GDP
Bulgaria Libya
2024 -3.04% -25.1%
2023 -3.03% 8.22%
2022 -0.8% 23.6%
2021 -2.8% 14.8%
2020 -2.92% -22.3%
2019 -0.96% 11.9%
2018 0.12% 9.39%
2017 0.82% -11.1%
2016 1.54% -29.3%
2015 -2.77% -28.5%
2014 -3.65% -30.5%
2013 -1.75% -16.3%
2012 -0.43% 24.6%
2011 -1.83% -11.5%
2010 -3.77% 11.5%
2009 -0.86% -5.46%
2008 2.73% 27.7%
2007 3.09% 28.4%
2006 3.22% 29.1%
2005 2.19% 30.4%
2004 1.59% 11.3%
2003 0.003% 6.17%
2002 -0.61% 6.99%
2001 -0.58% 0.07%
2000 -0.6% 13.6%
1999 0.15% 5.69%
1998 1.08% -2.36%
1997 0.83% -2.1%
1996 -10.1% 11.3%
1995 -7.98% 3.8%
1994 - -2.67%
1993 - -5.77%
1992 - 0.11%
1991 - 8.41%
1990 - 3.36%
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/libya | 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 Libya's deficit of $12.1B, or 25.1% of GDP.

Over the past 30 years, Bulgaria recorded a fiscal deficit in 18 of those years, while Libya ran a deficit in 11 years. On average, Bulgaria posted an annual deficit equal to 1.04% of GDP, compared to surplus of 3.14% of GDP for Libya.

Inflation comparison by year

Inflation
Bulgaria

Libya
1x
Year Consumer prices inflation
Bulgaria Libya
2024 2.6% 2.13%
2023 8.6% 2.37%
2022 13% 4.51%
2021 2.8% 2.87%
2020 1.2% 1.45%
2019 2.5% -2.16%
2018 2.6% 13.2%
2017 1.2% 25.8%
2016 -1.3% 25.9%
2015 -1.1% 10.4%
2014 -1.6% 2.43%
2013 0.4% 2.61%
2012 2.4% 6.06%
2011 3.4% 15.5%
2010 3% 2.8%
2009 2.5% 2.46%
2008 12% 10.4%
2007 7.6% 6.25%
2006 7.4% 1.46%
2005 6% 2.65%
2004 6.1% -2.2%
2003 2.3% -2.19%
2002 5.8% -9.8%
2001 7.4% -8.81%
2000 10.3% -2.9%
1999 2.6% 2.65%
1998 18.7% 3.71%
1997 1,061% 3.55%

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/libya | CC BY

Over the past 28 years, Bulgaria has recorded an average annual inflation rate of 42.5%, compared with 4.39% in Libya. In 2024, inflation was 2.6% in Bulgaria and 2.13% in Libya.

Top exports between countries

Bulgaria
Export category Export value
Raw materials & minerals $117M
Processed food, beverages & tobacco $39.9M
Machinery & equipment $18.5M
Chemicals & pharma $2.85M
Raw agricultural goods $1.6M
Wood & paper products $803K
Textiles & consumer goods $423K
Metals $307K
Animal & marine products $212K
Miscellaneous $102K
Libya
Export category Export value

Balance of trade

Bulgaria Libya
Current account balance
-$1.74B
2024
$1.86B
2023
Current account balance ranking
138/190
2024
46/190
2023
Current account balance, % of GDP
-1.54%
2024
+4.24%
2023
Goods imports
$52.8B
2024
$23.2B
2023
Goods exports
$47.3B
2024
$37.1B
2023
Service imports
$8.26B
2024
$10.1B
2023
Service exports
$16.6B
2024
$642M
2023
Imports of goods and services, % of GDP
53.9%
2024
56.8%
2024
Exports of goods and services, % of GDP
56.4%
2024
72%
2024

Economic freedom indices

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

Bulgaria Libya
Economic freedom 68.9 35.9
Economic freedom ranking 44/197 189/197
Property rights 75.8 6.3
Government integrity 48.4 10.3
Judicial effectiveness 58.5 4.9
Tax burden 89.1 95
Government spending 58.4 0
Fiscal health 90.4 19.9
Business freedom 78.2 32.4
Labor freedom 62.4 48.2
Monetary freedom 75.8 75.2
Trade freedom 79.4 80
Investment freedom 60 5
Financial freedom 50 20

Economic freedom comparison by year

Bulgaria
Libya
1x
Year Economic freedom index
Bulgaria Libya
2026 68.9 -
2025 68.8 -
2024 68.5 -
2023 69.3 -
2022 71 -
2021 70.4 -
2020 70.2 -
2019 69 -
2018 68.3 -
2017 67.9 -
2016 65.9 -
2015 66.8 -
2014 65.7 -
2013 65 -
2012 64.7 35.9
2011 64.9 38.6
2010 62.3 40.2
2009 64.6 43.5
2008 63.7 38.7
2007 62.7 37
2006 64.1 33.2
2005 62.3 32.8
2004 59.2 31.5
2003 57 34.6
2002 57.1 35.4
2001 51.9 34
2000 47.3 34.7
1999 46.2 32.3
1998 45.7 32
1997 47.6 28.9
1996 48.6 31.7
1995 50 -

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

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

The Economic Freedom Index for Bulgaria is 68.9, ranking 44/197, compared to 35.9 for Libya, ranking 189/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bulgaria Libya
Services, % of GDP
63.8%
2024
28.3%
2024
Industry, % of GDP
21.1%
2024
73.5%
2024
Agriculture, forestry, and fishing, % of GDP
2.35%
2024
2.39%
2024
GNI, Atlas method
$99B
2024
$50.9B
2024
GNI per capita, PPP
$39,850
2024
$15,400
2024
Total reserves including gold
$43.7B
2024
$92.9B
2024
Total reserves ranking
47/177
2024
29/177
2024
Net foreign direct investment
-$2.22B
2024
-$795M
2023
Net inflows of foreign direct investment
$3.55B
2024
$0
2024
Net outflows of foreign direct investment
$1.13B
2024
-$56.5M
2024
Servicing debt to the IMF, % of GNI
6.8%
2024
n/a
Poverty at national poverty lines
21.7%
2023
7.4%
2005
Gross capital formation, % of GDP
20.4%
2024
14.3%
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/libya | 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 (1924–1997, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2023–2024, retrieved 2026-02-08)
  7. Central Intelligence Agency (CIA) (2004–2005, retrieved 2026-02-20)
  8. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  9. 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.