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Economy of Bulgaria vs Maldives compared: GDP & Debt

Updated on by Georank team

Bulgaria has a GDP of $113B compared to $7.06B for Maldives, ranking 67/197 and 159/197 by economy size, respectively.

Bulgaria has $27.3B in government debt (24.1% of GDP), compared to $9.41B (133.3% of GDP) in Maldives.

Bulgaria vs Maldives GDP by year

Bulgaria
Maldives
1x
Year GDP, current $
Bulgaria Maldives
2024 $113,343,355,780 $7,061,608,267
2023 $102,199,231,385 $6,621,008,704
2022 $90,506,153,294 $6,177,123,352
2021 $84,374,613,233 $5,252,457,370
2020 $70,486,877,546 $3,712,604,583
2019 $68,507,731,354 $5,726,094,799
2018 $66,097,226,262 $5,404,344,163
2017 $59,167,647,388 $4,816,426,257
2016 $53,929,397,039 $4,409,942,624
2015 $50,765,918,159 $4,129,505,319
2014 $57,080,897,012 $3,697,353,039
2013 $55,819,262,375 $3,295,009,238
2012 $54,297,052,002 $2,886,163,997
2011 $57,681,293,007 $2,774,350,240
2010 $50,689,051,382 $2,588,176,055
2009 $52,023,801,230 $2,345,294,875
2008 $54,480,684,188 $2,271,646,188
2007 $44,431,257,129 $1,868,383,461
2006 $34,380,536,496 $1,575,200,391
2005 $29,868,657,858 $1,163,362,438
2004 $26,157,743,369 $1,226,829,563
2003 $21,144,957,990 $1,052,121,055
2002 $16,403,043,850 $897,031,250
2001 $14,183,446,026 $870,031,677
2000 $13,245,990,274 $624,337,145
1999 $13,637,098,579 $589,239,754
1998 $15,031,055,047 $540,096,398
1997 $11,316,127,379 $508,223,602
1996 $12,294,964,838 $450,382,328
1995 $18,991,484,420 $398,988,955
1994 $9,709,240,034 $356,014,932
1993 $10,832,064,942 $322,417,837
1992 $8,602,887,623 $284,875,809
1991 $7,628,738,475 $244,396,762
1990 $20,632,090,909 $215,043,970
1989 $21,988,444,444 $189,514,434
1988 $22,555,941,176 $168,514,513
1987 $28,101,000,000 $141,223,029
1986 $20,249,294,118 $141,882,254
1985 $17,155,421,053 $127,190,758
1984 $17,594,944,444 $109,503,546
1983 $16,563,666,667 $57,829,787
1982 $19,342,000,000 $47,911,340
1981 $19,870,000,000 $44,781,457
1980 $19,839,230,769 $42,463,576
1979 - $38,523,364
1978 - $24,369,109
1977 - $20,853,789
1976 - $22,399,467
1975 - $24,540,878
1974 - $39,120,171
1973 - $30,862,042
1972 - $25,177,138
1971 - $21,566,404
1970 - $19,328,038

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

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

GDP per capita in Bulgaria vs Maldives by year

Bulgaria
GDP per capita

GDP per capita, PPP
Maldives
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bulgaria Maldives
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $17,596 $41,969 $13,379 $26,183
2023 $15,853 $38,829 $12,588 $24,786
2022 $13,999 $36,320 $11,786 $22,881
2021 $12,966 $30,959 $10,176 $19,053
2020 $10,760 $27,352 $7,394 $13,425
2019 $10,354 $26,766 $11,740 $23,077
2018 $9,849 $23,998 $11,423 $21,899
2017 $8,697 $22,317 $10,510 $19,768
2016 $7,822 $20,746 $9,948 $18,770
2015 $7,269 $18,896 $9,645 $17,875
2014 $8,070 $17,991 $8,939 $16,723
2013 $7,796 $16,894 $8,236 $15,264
2012 $7,432 $16,327 $7,461 $13,989
2011 $7,850 $15,747 $7,425 $13,726
2010 $6,854 $14,954 $7,174 $12,797
2009 $6,988 $14,188 $6,734 $12,266
2008 $7,271 $14,347 $6,757 $13,779
2007 $5,889 $12,822 $5,758 $12,852
2006 $4,523 $11,406 $5,019 $12,075
2005 $3,900 $10,291 $3,797 $9,704
2004 $3,390 $9,200 $4,070 $10,770
2003 $2,719 $8,416 $3,549 $10,065
2002 $2,093 $7,786 $3,076 $8,823
2001 $1,771 $6,960 $3,034 $8,236
2000 $1,621 $6,424 $2,214 $8,526
1999 $1,661 $5,808 $2,124 $8,162
1998 $1,820 $6,178 $1,980 $7,710
1997 $1,361 $5,751 $1,898 $7,226
1996 $1,470 $6,849 $1,717 $6,687
1995 $2,259 $7,743 $1,555 $6,223
1994 $1,150 $7,338 $1,419 $5,520
1993 $1,279 $7,032 $1,317 $5,138
1992 $1,007 $6,917 $1,194 $4,881
1991 $884 $7,215 $1,054 $4,604
1990 $2,367 $7,548 $957 $4,528
1989 $2,477 - $870 -
1988 $2,511 - $799 -
1987 $3,132 - $692 -
1986 $2,260 - $720 -
1985 $1,915 - $669 -
1984 $1,964 - $594 -
1983 $1,853 - $323 -
1982 $2,169 - $274.8 -
1981 $2,235 - $264.1 -
1980 $2,239 - $257.6 -
1979 - - $240.2 -
1978 - - $156.1 -
1977 - - $137.3 -
1976 - - $151.8 -
1975 - - $171.4 -
1974 - - $281.5 -
1973 - - $228.7 -
1972 - - $192.2 -
1971 - - $169.8 -
1970 - - $156.9 -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

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

Bulgaria's GDP per capita is $17,596, ranking 64/197, compared to $13,379 in Maldives, ranking 75/197. Adjusted for purchasing power (GDP per capita PPP), Bulgaria ranks 54th at $41,969, while Maldives ranks 81st at $26,183.

Economic indicators

Bulgaria Maldives
Gross domestic product
$113B
2024
$7.06B
2024
GDP rank
67/197
2024
159/197
2024
GDP growth
3.39%
2023-2024
3.49%
2023-2024
GDP per capita
$17,596
2024
$13,379
2024
GDP per capita rank
64/197
2024
75/197
2024
GDP per capita, PPP
$41,969
2024
$26,183
2024
GDP per capita PPP rank
54/197
2024
81/197
2024
Government debt
$27.3B
2024
$9.41B
2024
Debt-to-GDP ratio
24.1%
2024
133.3%
2024
Government debt per person
$4,237
2024
$17,837
2024
Government debt per person rank
90/185
2024
35/185
2024
Average annual personal income after taxes
$14,263
2026
$9,909
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
23.3%
2019
Income share by poorest 10%
2.1%
2023
3.8%
2019
Government expenditure, % of GDP
36.7%
2024
46.1%
2024
Consumer prices inflation
2.6%
2023-2024
1.4%
2023-2024
Central bank interest rate
1.81%
2025
n/a
Unemployment rate
4.17%
2024
4.56%
2019
Population
6359449
532057

Spending and national debt comparison by year

Bulgaria
Spending

Debt
Maldives
Spending

Debt
1x
Year % of GDP
Bulgaria Maldives
Government spending Government debt Government spending Government debt
2024 36.7% 24.1% 46.1% 133.3%
2023 37.4% 22.9% 46.7% 122.4%
2022 37.6% 22.5% 42% 111.6%
2021 38.4% 23.8% 40.6% 123.4%
2020 37.6% 22.7% 50.4% 155.7%
2019 36% 18.4% 32.9% 77.2%
2018 34.4% 20.1% 31.9% 70.7%
2017 32% 22.9% 30.4% 63.8%
2016 32.7% 27% 37.3% 61.9%
2015 37.3% 25.4% 33.8% 54.8%
2014 37.1% 26.3% 29.1% 55.1%
2013 35.5% 17.2% 27% 55.9%
2012 32.5% 16.5% 29.8% 57.1%
2011 32% 14.3% 31.3% 51.9%
2010 34.6% 14.1% 33.2% 52.7%
2009 33.8% 14.5% 37% 48.4%
2008 33.5% 14.7% 35.6% 39%
2007 33.1% 17.6% 34.8% 35.8%
2006 32.5% 22.6% 35% 36.8%
2005 34% 28.5% 38.8% 43.2%
2004 34.6% 37.8% 24.1% 34.7%
2003 35.8% 45.4% 26.4% 37.6%
2002 35.1% 53.4% 29.6% 44.3%
2001 36.5% 67.1% 29.6% 41.8%
2000 37.1% 73.3% 29% 39%
1999 36.2% 78.7% 28% 38.9%
1998 30.6% 67.3% 25.9% 39.3%
1997 32.9% 88.4% 25.2% 38.1%
1996 44% 113.8% 27.3% 46.9%
1995 45.4% 72% 31.3% 52.2%
1994 - - 30.7% 54.6%
1993 - - 34.7% 55.7%
1992 - - 36.1% 49%
1991 - - 37.7% 46.7%
1990 - - 33.3% 42.4%

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

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

In 2024, Bulgaria's government spending was $41.5B, accounting for 36.7% of its GDP, while Maldives spent $3.25B, or 46.1% of GDP.

Debt-to-GDP ratio is 24.1% in Bulgaria and 133.3% in Maldives, ranking 169/185 and 10/185, respectively.

Government deficit by year

Deficit/surplus
Bulgaria

Maldives
1x
Year Deficit/surplus, % of GDP
Bulgaria Maldives
2024 -3.04% -13.9%
2023 -3.03% -13.2%
2022 -0.8% -11.2%
2021 -2.8% -14.2%
2020 -2.92% -23.7%
2019 -0.96% -6.54%
2018 0.12% -5.17%
2017 0.82% -3.02%
2016 1.54% -9.93%
2015 -2.77% -6.52%
2014 -3.65% -2.42%
2013 -1.75% -3.49%
2012 -0.43% -6.91%
2011 -1.83% -8.13%
2010 -3.77% -13.6%
2009 -0.86% -17.9%
2008 2.73% -9.92%
2007 3.09% -3.16%
2006 3.22% -4.52%
2005 2.19% -7.81%
2004 1.59% -2.26%
2003 0.003% -3.45%
2002 -0.61% -3.97%
2001 -0.58% -3.97%
2000 -0.6% -3.89%
1999 0.15% -3.03%
1998 1.08% -2.25%
1997 0.83% -1.46%
1996 -10.1% -2.01%
1995 -7.98% -5.66%
1994 - -4.82%
1993 - -13.9%
1992 - -12.6%
1991 - -10.2%
1990 - -12.8%
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/maldives | 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 Maldives' deficit of $982M, or 13.9% of GDP.

Over the past 30 years, Bulgaria recorded a fiscal deficit in 18 of those years, while Maldives ran a deficit in 30 years. On average, Bulgaria posted an annual deficit equal to 1.04% of GDP, compared to deficit of 7.24% of GDP for Maldives.

Inflation comparison by year

Inflation
Bulgaria

Maldives
1x
Year Consumer prices inflation
Bulgaria Maldives
2024 2.6% 1.4%
2023 8.6% 2.6%
2022 13% 2.6%
2021 2.8% 0.2%
2020 1.2% -1.6%
2019 2.5% 1.3%
2018 2.6% 1.4%
2017 1.2% 2.3%
2016 -1.3% 0.8%
2015 -1.1% 1.4%
2014 -1.6% 2.4%
2013 0.4% 4%
2012 2.4% 10.9%
2011 3.4% 11.3%
2010 3% 6.1%
2009 2.5% 4.5%
2008 12% 12%
2007 7.6% 6.8%
2006 7.4% 3.5%
2005 6% 2.5%
2004 6.1% 6.3%
2003 2.3% -2.8%
2002 5.8% 0.9%
2001 7.4% 0.7%
2000 10.3% -1.2%
1999 2.6% 3%
1998 18.7% -1.4%
1997 1,061% 7.6%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

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

Over the past 28 years, Bulgaria has recorded an average annual inflation rate of 42.5%, compared with 3.2% in Maldives. In 2024, inflation was 2.6% in Bulgaria and 1.4% in Maldives.

Top exports between countries

Bulgaria
Export category Export value
Machinery & equipment $974K
Processed food, beverages & tobacco $125K
Textiles & consumer goods $104K
Raw materials & minerals $43K
Chemicals & pharma $32K
Raw agricultural goods $24K
Miscellaneous $14K
Metals $9K
Wood & paper products $3K
Precious metals & jewellery $2K
Maldives
Export category Export value

Balance of trade

Bulgaria Maldives
Current account balance
-$1.74B
2024
-$1.32B
2024
Current account balance ranking
138/190
2024
130/190
2024
Current account balance, % of GDP
-1.54%
2024
-18.7%
2024
Goods imports
$52.8B
2024
$3.46B
2024
Goods exports
$47.3B
2024
$383M
2024
Service imports
$8.26B
2024
$1.89B
2024
Service exports
$16.6B
2024
$5.03B
2024
Imports of goods and services, % of GDP
53.9%
2024
78.3%
2024
Exports of goods and services, % of GDP
56.4%
2024
78.2%
2024

Economic freedom indices

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

Bulgaria Maldives
Economic freedom 68.9 47.6
Economic freedom ranking 44/197 174/197
Property rights 75.8 52.2
Government integrity 48.4 41.9
Judicial effectiveness 58.5 39.3
Tax burden 89.1 89.9
Government spending 58.4 39.5
Fiscal health 90.4 0
Business freedom 78.2 49.7
Labor freedom 62.4 54.1
Monetary freedom 75.8 76.4
Trade freedom 79.4 62.8
Investment freedom 60 35
Financial freedom 50 30

Economic freedom comparison by year

Bulgaria
Maldives
1x
Year Economic freedom index
Bulgaria Maldives
2026 68.9 47.6
2025 68.8 48.3
2024 68.5 47.8
2023 69.3 46.6
2022 71 47.3
2021 70.4 55.2
2020 70.2 56.5
2019 69 53.2
2018 68.3 51.1
2017 67.9 50.3
2016 65.9 53.9
2015 66.8 53.4
2014 65.7 51
2013 65 49
2012 64.7 49.2
2011 64.9 48.3
2010 62.3 49
2009 64.6 51.3
2008 63.7 -
2007 62.7 -
2006 64.1 -
2005 62.3 -
2004 59.2 -
2003 57 -
2002 57.1 -
2001 51.9 -
2000 47.3 -
1999 46.2 -
1998 45.7 -
1997 47.6 -
1996 48.6 -
1995 50 -

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

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

The Economic Freedom Index for Bulgaria is 68.9, ranking 44/197, compared to 47.6 for Maldives, ranking 174/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bulgaria Maldives
Services, % of GDP
63.8%
2024
72.1%
2024
Industry, % of GDP
21.1%
2024
9.2%
2024
Agriculture, forestry, and fishing, % of GDP
2.35%
2024
3.84%
2024
GNI, Atlas method
$99B
2024
$6.15B
2024
GNI per capita, PPP
$39,850
2024
$23,400
2024
Total reserves including gold
$43.7B
2024
$674M
2024
Total reserves ranking
47/177
2024
150/177
2024
Net foreign direct investment
-$2.22B
2024
-$806M
2024
Net inflows of foreign direct investment
$3.55B
2024
$806M
2024
Net outflows of foreign direct investment
$1.13B
2024
$0
2024
Servicing debt to the IMF, % of GNI
6.8%
2024
7.95%
2024
Poverty at national poverty lines
21.7%
2023
15%
2020
Gross capital formation, % of GDP
20.4%
2024
30.8%
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/maldives | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1970–2024, 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 (2022–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.