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Economy of Bulgaria vs Malaysia compared: GDP & Debt

Updated on by Georank team

Bulgaria has a GDP of $113B compared to $422B for Malaysia, ranking 67/197 and 38/197 by economy size, respectively.

Bulgaria has $27.3B in government debt (24.1% of GDP), compared to $296B (70.1% of GDP) in Malaysia.

Bulgaria vs Malaysia GDP by year

Bulgaria
Malaysia
1x
Year GDP, current $
Bulgaria Malaysia
2024 $113,343,355,780 $422,227,005,429
2023 $102,199,231,385 $399,949,418,753
2022 $90,506,153,294 $407,830,525,990
2021 $84,374,613,233 $373,784,553,030
2020 $70,486,877,546 $337,456,163,961
2019 $68,507,731,354 $365,177,721,022
2018 $66,097,226,262 $358,788,845,713
2017 $59,167,647,388 $319,109,094,160
2016 $53,929,397,039 $301,256,033,870
2015 $50,765,918,159 $301,355,266,965
2014 $57,080,897,012 $338,066,095,097
2013 $55,819,262,375 $323,276,235,524
2012 $54,297,052,002 $314,443,047,642
2011 $57,681,293,007 $297,951,668,675
2010 $50,689,051,382 $255,017,638,456
2009 $52,023,801,230 $202,257,453,037
2008 $54,480,684,188 $230,811,614,370
2007 $44,431,257,129 $193,549,569,478
2006 $34,380,536,496 $162,692,258,307
2005 $29,868,657,858 $143,534,405,819
2004 $26,157,743,369 $124,749,473,684
2003 $21,144,957,990 $110,202,368,421
2002 $16,403,043,850 $100,845,526,316
2001 $14,183,446,026 $92,783,947,368
2000 $13,245,990,274 $93,789,736,842
1999 $13,637,098,579 $79,148,421,053
1998 $15,031,055,047 $72,167,498,981
1997 $11,316,127,379 $100,005,323,302
1996 $12,294,964,838 $100,855,393,910
1995 $18,991,484,420 $88,705,342,903
1994 $9,709,240,034 $74,478,356,958
1993 $10,832,064,942 $66,894,966,969
1992 $8,602,887,623 $59,167,550,163
1991 $7,628,738,475 $49,143,148,094
1990 $20,632,090,909 $44,024,585,240
1989 $21,988,444,444 $38,847,965,293
1988 $22,555,941,176 $35,272,109,220
1987 $28,101,000,000 $32,181,210,158
1986 $20,249,294,118 $27,734,111,400
1985 $17,155,421,053 $31,199,633,353
1984 $17,594,944,444 $33,942,897,422
1983 $16,563,666,667 $30,347,442,111
1982 $19,342,000,000 $26,804,493,635
1981 $19,870,000,000 $25,004,285,792
1980 $19,839,230,769 $24,488,224,677
1979 - $21,213,264,962
1978 - $16,358,079,862
1977 - $13,139,488,633
1976 - $11,050,234,599
1975 - $9,298,800,799
1974 - $9,496,204,302
1973 - $7,662,902,678
1972 - $5,043,347,250
1971 - $4,244,395,956
1970 - $3,864,145,667
1969 - $3,664,552,041
1968 - $3,330,371,551
1967 - $3,188,924,677
1966 - $3,143,517,944
1965 - $2,956,337,669
1964 - $2,674,423,922
1963 - $2,510,110,348
1962 - $2,001,489,602
1961 - $1,901,856,123
1960 - $1,916,229,477

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

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

GDP per capita in Bulgaria vs Malaysia by year

Bulgaria
GDP per capita

GDP per capita, PPP
Malaysia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bulgaria Malaysia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $17,596 $41,969 $11,874 $38,779
2023 $15,853 $38,829 $11,386 $36,467
2022 $13,999 $36,320 $11,755 $34,420
2021 $12,966 $30,959 $10,903 $29,823
2020 $10,760 $27,352 $9,958 $27,475
2019 $10,354 $26,766 $10,920 $28,934
2018 $9,849 $23,998 $10,902 $27,794
2017 $8,697 $22,317 $9,863 $26,416
2016 $7,822 $20,746 $9,477 $25,286
2015 $7,269 $18,896 $9,649 $24,526
2014 $8,070 $17,991 $11,013 $24,307
2013 $7,796 $16,894 $10,714 $23,161
2012 $7,432 $16,327 $10,601 $22,639
2011 $7,850 $15,747 $10,217 $21,324
2010 $6,854 $14,954 $8,899 $20,193
2009 $6,988 $14,188 $7,191 $18,923
2008 $7,271 $14,347 $8,372 $19,480
2007 $5,889 $12,822 $7,169 $18,617
2006 $4,523 $11,406 $6,158 $17,426
2005 $3,900 $10,291 $5,556 $16,371
2004 $3,390 $9,200 $4,939 $15,416
2003 $2,719 $8,416 $4,465 $14,387
2002 $2,093 $7,786 $4,184 $13,656
2001 $1,771 $6,960 $3,944 $13,072
2000 $1,621 $6,424 $4,084 $13,027
1999 $1,661 $5,808 $3,528 $11,980
1998 $1,820 $6,178 $3,294 $11,398
1997 $1,361 $5,751 $4,679 $12,469
1996 $1,470 $6,849 $4,837 $11,709
1995 $2,259 $7,743 $4,363 $10,720
1994 $1,150 $7,338 $3,758 $9,806
1993 $1,279 $7,032 $3,462 $9,018
1992 $1,007 $6,917 $3,141 $8,224
1991 $884 $7,215 $2,679 $7,583
1990 $2,367 $7,548 $2,469 $6,887
1989 $2,477 - $2,244 -
1988 $2,511 - $2,100 -
1987 $3,132 - $1,977 -
1986 $2,260 - $1,760 -
1985 $1,915 - $2,046 -
1984 $1,964 - $2,300 -
1983 $1,853 - $2,124 -
1982 $2,169 - $1,938 -
1981 $2,235 - $1,866 -
1980 $2,239 - $1,886 -
1979 - - $1,680 -
1978 - - $1,327 -
1977 - - $1,092 -
1976 - - $940 -
1975 - - $811 -
1974 - - $848 -
1973 - - $701 -
1972 - - $472 -
1971 - - $407 -
1970 - - $380 -
1969 - - $368 -
1968 - - $342 -
1967 - - $335 -
1966 - - $339 -
1965 - - $326 -
1964 - - $303 -
1963 - - $291.8 -
1962 - - $238.8 -
1961 - - $232.9 -
1960 - - $240.8 -

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

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

Bulgaria's GDP per capita is $17,596, ranking 64/197, compared to $11,874 in Malaysia, ranking 79/197. Adjusted for purchasing power (GDP per capita PPP), Bulgaria ranks 54th at $41,969, while Malaysia ranks 60th at $38,779.

Economic indicators

Bulgaria Malaysia
Gross domestic product
$113B
2024
$422B
2024
GDP rank
67/197
2024
38/197
2024
GDP growth
3.39%
2023-2024
5.11%
2023-2024
GDP per capita
$17,596
2024
$11,874
2024
GDP per capita rank
64/197
2024
79/197
2024
GDP per capita, PPP
$41,969
2024
$38,779
2024
GDP per capita PPP rank
54/197
2024
60/197
2024
Government debt
$27.3B
2024
$296B
2024
Debt-to-GDP ratio
24.1%
2024
70.1%
2024
Government debt per person
$4,237
2024
$8,322
2024
Government debt per person rank
90/185
2024
62/185
2024
Average annual personal income after taxes
$14,263
2026
$11,005
2026
Market capitalization of domestic companies
$8.41B
2024
$449B
2024
Number of billionaires
2
2025
19
2025
Income share by richest 10%
31.1%
2023
30.9%
2021
Income share by poorest 10%
2.1%
2023
2.3%
2021
Government expenditure, % of GDP
36.7%
2024
23.9%
2024
Consumer prices inflation
2.6%
2023-2024
1.83%
2023-2024
Central bank interest rate
1.81%
2025
2.75%
2025
Unemployment rate
4.17%
2024
3.93%
2022
Population
6359449
36512221

Spending and national debt comparison by year

Bulgaria
Spending

Debt
Malaysia
Spending

Debt
1x
Year % of GDP
Bulgaria Malaysia
Government spending Government debt Government spending Government debt
2024 36.7% 24.1% 23.9% 70.1%
2023 37.4% 22.9% 24.9% 69.7%
2022 37.6% 22.5% 24.6% 65.5%
2021 38.4% 23.8% 24.5% 69.2%
2020 37.6% 22.7% 25% 67.7%
2019 36% 18.4% 23.6% 57.1%
2018 34.4% 20.1% 22.8% 55.6%
2017 32% 22.9% 22% 54.4%
2016 32.7% 27% 22.9% 55.8%
2015 37.3% 25.4% 24.7% 57%
2014 37.1% 26.3% 26% 55.4%
2013 35.5% 17.2% 27.8% 55.7%
2012 32.5% 16.5% 28.5% 53.8%
2011 32% 14.3% 27.1% 51.9%
2010 34.6% 14.1% 26.6% 51.2%
2009 33.8% 14.5% 30.9% 50.4%
2008 33.5% 14.7% 26.9% 39.4%
2007 33.1% 17.6% 25.9% 39.3%
2006 32.5% 22.6% 25.6% 39.7%
2005 34% 28.5% 24.5% 40.8%
2004 34.6% 37.8% 25.9% 42%
2003 35.8% 45.4% 28.1% 41.4%
2002 35.1% 53.4% 27.1% 39.5%
2001 36.5% 67.1% 28.2% 38.1%
2000 37.1% 73.3% 25.6% 32.5%
1999 36.2% 78.7% 24.6% 34.4%
1998 30.6% 67.3% 23.1% 33.6%
1997 32.9% 88.4% 21.2% 29.6%
1996 44% 113.8% 22.4% 32.8%
1995 45.4% 72% 22.6% 38.2%
1994 - - 23.3% 43.7%
1993 - - 24.6% 51.1%
1992 - - 28.2% 59.1%
1991 - - 27.4% 67.3%
1990 - - 30.5% 74.1%

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/malaysia | CC BY

In 2024, Bulgaria's government spending was $41.5B, accounting for 36.7% of its GDP, while Malaysia spent $101B, or 23.9% of GDP.

Debt-to-GDP ratio is 24.1% in Bulgaria and 70.1% in Malaysia, ranking 169/185 and 58/185, respectively.

Government deficit by year

Deficit/surplus
Bulgaria

Malaysia
1x
Year Deficit/surplus, % of GDP
Bulgaria Malaysia
2024 -3.04% -3.95%
2023 -3.03% -3.97%
2022 -0.8% -4.56%
2021 -2.8% -6.03%
2020 -2.92% -4.9%
2019 -0.96% -2.01%
2018 0.12% -2.64%
2017 0.82% -2.41%
2016 1.54% -2.6%
2015 -2.77% -2.55%
2014 -3.65% -2.63%
2013 -1.75% -3.48%
2012 -0.43% -3.1%
2011 -1.83% -3.57%
2010 -3.77% -4.32%
2009 -0.86% -5.88%
2008 2.73% -3.4%
2007 3.09% -2.57%
2006 3.22% -2.6%
2005 2.19% -2.83%
2004 1.59% -3.35%
2003 0.003% -4.6%
2002 -0.61% -3.96%
2001 -0.58% -4.36%
2000 -0.6% -6.05%
1999 0.15% -3%
1998 1.08% -0.63%
1997 0.83% 4.84%
1996 -10.1% 3.27%
1995 -7.98% 3.1%
1994 - 5.45%
1993 - 3.44%
1992 - 1.81%
1991 - 1.6%
1990 - 0.15%
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/malaysia | 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 Malaysia's deficit of $16.7B, or 3.95% of GDP.

Over the past 30 years, Bulgaria recorded a fiscal deficit in 18 of those years, while Malaysia ran a deficit in 27 years. On average, Bulgaria posted an annual deficit equal to 1.04% of GDP, compared to deficit of 2.83% of GDP for Malaysia.

Inflation comparison by year

Inflation
Bulgaria

Malaysia
1x
Year Consumer prices inflation
Bulgaria Malaysia
2024 2.6% 1.83%
2023 8.6% 2.49%
2022 13% 3.38%
2021 2.8% 2.48%
2020 1.2% -1.14%
2019 2.5% 0.66%
2018 2.6% 0.88%
2017 1.2% 3.87%
2016 -1.3% 2.09%
2015 -1.1% 2.1%
2014 -1.6% 3.14%
2013 0.4% 2.11%
2012 2.4% 1.66%
2011 3.4% 3.17%
2010 3% 1.62%
2009 2.5% 0.58%
2008 12% 5.44%
2007 7.6% 2.03%
2006 7.4% 3.61%
2005 6% 2.98%
2004 6.1% 1.42%
2003 2.3% 1.09%
2002 5.8% 1.81%
2001 7.4% 1.42%
2000 10.3% 1.53%
1999 2.6% 2.74%
1998 18.7% 5.27%
1997 1,061% 2.66%

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/malaysia | CC BY

Over the past 28 years, Bulgaria has recorded an average annual inflation rate of 42.5%, compared with 2.25% in Malaysia. In 2024, inflation was 2.6% in Bulgaria and 1.83% in Malaysia.

Top exports between countries

Bulgaria
Export category Export value
Machinery & equipment $29.9M
Raw materials & minerals $10.8M
Processed food, beverages & tobacco $6.33M
Chemicals & pharma $4.65M
Metals $2.75M
Wood & paper products $2.62M
Textiles & consumer goods $928K
Transport & tourism services $870K
Raw agricultural goods $733K
IT & IP services $652K
Malaysia
Export category Export value
Machinery & equipment $88.6M
Metals $5.91M
Textiles & consumer goods $5.39M
Chemicals & pharma $4.6M
Processed food, beverages & tobacco $3.32M
Raw materials & minerals $836K
Wood & paper products $161K
Animal & marine products $87K
Miscellaneous $47K
Raw agricultural goods $19K

Balance of trade

Bulgaria Malaysia
Current account balance
-$1.74B
2024
$7.15B
2024
Current account balance ranking
138/190
2024
26/190
2024
Current account balance, % of GDP
-1.54%
2024
+1.69%
2024
Goods imports
$52.8B
2024
$223B
2024
Goods exports
$47.3B
2024
$248B
2024
Service imports
$8.26B
2024
$56.4B
2024
Service exports
$16.6B
2024
$53.4B
2024
Imports of goods and services, % of GDP
53.9%
2024
66%
2024
Exports of goods and services, % of GDP
56.4%
2024
71.3%
2024

Economic freedom indices

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

Bulgaria Malaysia
Economic freedom 68.9 68
Economic freedom ranking 44/197 51/197
Property rights 75.8 62.7
Government integrity 48.4 52.9
Judicial effectiveness 58.5 63.4
Tax burden 89.1 83.5
Government spending 58.4 82
Fiscal health 90.4 62.5
Business freedom 78.2 79.6
Labor freedom 62.4 55.4
Monetary freedom 75.8 80.8
Trade freedom 79.4 83
Investment freedom 60 60
Financial freedom 50 50

Economic freedom comparison by year

Bulgaria
Malaysia
1x
Year Economic freedom index
Bulgaria Malaysia
2026 68.9 68
2025 68.8 67.1
2024 68.5 65.7
2023 69.3 67.3
2022 71 68.1
2021 70.4 74.4
2020 70.2 74.7
2019 69 74
2018 68.3 74.5
2017 67.9 73.8
2016 65.9 71.5
2015 66.8 70.8
2014 65.7 69.6
2013 65 66.1
2012 64.7 66.4
2011 64.9 66.3
2010 62.3 64.8
2009 64.6 64.6
2008 63.7 63.9
2007 62.7 63.8
2006 64.1 61.6
2005 62.3 61.9
2004 59.2 59.9
2003 57 61.1
2002 57.1 60.1
2001 51.9 60.2
2000 47.3 66
1999 46.2 68.9
1998 45.7 68.2
1997 47.6 66.8
1996 48.6 69.9
1995 50 71.9

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

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

The Economic Freedom Index for Bulgaria is 68.9, ranking 44/197, compared to 68 for Malaysia, ranking 51/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bulgaria Malaysia
Services, % of GDP
63.8%
2024
53.7%
2024
Industry, % of GDP
21.1%
2024
37%
2024
Agriculture, forestry, and fishing, % of GDP
2.35%
2024
8.13%
2024
GNI, Atlas method
$99B
2024
$414B
2024
GNI per capita, PPP
$39,850
2024
$37,450
2024
Total reserves including gold
$43.7B
2024
$116B
2024
Total reserves ranking
47/177
2024
24/177
2024
Net foreign direct investment
-$2.22B
2024
-$2.55B
2024
Net inflows of foreign direct investment
$3.55B
2024
$15.6B
2024
Net outflows of foreign direct investment
$1.13B
2024
$13B
2024
Servicing debt to the IMF, % of GNI
6.8%
2024
n/a
Poverty at national poverty lines
21.7%
2023
5.8%
2023
Gross capital formation, % of GDP
20.4%
2024
22%
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/malaysia | CC BY

Compare countries by 7 more topics

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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. 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.