Skip to content

Economy of Bulgaria vs Malta compared: GDP & Debt

Updated on by Georank

Bulgaria has a GDP of $131B compared to $27.8B for Malta, ranking 63/197 and 118/197 by economy size, respectively.

Bulgaria has $35.4B in government debt (27.1% of GDP), compared to $13B (46.8% of GDP) in Malta.

Bulgaria vs Malta GDP by year

Bulgaria
Malta
1x
Year GDP, current $
Bulgaria Malta
2025 $130,777,235,530 $27,771,821,561
2024 $113,349,149,167 $25,042,712,191
2023 $102,204,457,335 $22,625,329,776
2022 $90,510,784,778 $18,938,869,147
2021 $84,378,926,047 $19,730,119,031
2020 $70,490,478,088 $16,404,655,808
2019 $68,511,235,459 $16,337,788,881
2018 $66,100,606,677 $16,153,785,817
2017 $59,170,671,046 $14,161,374,599
2016 $53,932,152,154 $12,025,777,078
2015 $50,768,512,173 $11,340,789,706
2014 $57,083,817,240 $11,888,029,752
2013 $55,822,115,861 $10,796,780,874
2012 $54,299,825,600 $9,609,530,619
2011 $57,684,243,980 $9,789,363,086
2010 $50,691,645,231 $9,097,044,301
2009 $52,026,461,290 $8,769,897,418
2008 $54,483,464,293 $9,172,399,573
2007 $44,433,521,725 $7,908,412,374
2006 $34,382,295,487 $6,749,838,862
2005 $29,870,182,425 $6,393,234,965
2004 $26,159,078,743 $6,104,141,501
2003 $21,146,038,619 $5,418,315,225
2002 $16,403,880,783 $4,455,127,398
2001 $14,184,170,319 $4,070,867,153
2000 $13,246,669,554 $4,036,809,767
1999 $13,637,793,854 $4,111,857,836
1998 $15,031,821,788 $4,010,111,652
1997 $11,316,706,412 $3,787,023,655
1996 $12,295,588,924 $3,822,547,151
1995 $18,992,388,645 $3,709,396,089
1994 $9,709,230,161 $2,998,505,428
1993 $10,832,041,595 $2,709,193,538
1992 $8,602,874,120 $3,021,942,759
1991 $7,628,764,750 $2,750,216,747
1990 $20,726,605,649 $2,547,328,748
1989 $21,746,286,447 $2,118,655,677
1988 $23,003,003,708 $2,019,503,068
1987 $28,428,718,531 $1,751,293,461
1986 $20,261,546,635 $1,435,038,441
1985 $17,562,270,447 $1,117,797,439
1984 $17,410,894,971 $1,101,807,023
1983 $16,959,180,922 $1,165,729,707
1982 $19,803,624,625 $1,234,474,404
1981 $20,055,685,481 $1,243,509,394
1980 $20,039,544,133 $1,250,198,601
1979 - $1,001,288,847
1978 - $793,673,402
1977 - $625,563,171
1976 - $527,936,989
1975 - $474,618,321
1974 - $376,081,124
1973 - $345,616,106
1972 - $295,106,628
1971 - $264,578,485
1970 - $250,728,796

Data sources: World Bank | Economy & Growth (1970–2025, retrieved 2026-07-08).

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

GDP per capita in Bulgaria vs Malta by year

Bulgaria
GDP per capita

GDP per capita, PPP
Malta
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bulgaria Malta
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $20,328 - $47,907 -
2024 $17,597 $41,969 $44,024 $69,864
2023 $15,854 $38,829 $40,933 $67,057
2022 $14,000 $36,320 $35,659 $60,589
2021 $12,967 $30,959 $38,078 $56,852
2020 $10,761 $27,352 $31,823 $49,972
2019 $10,354 $26,766 $32,422 $51,393
2018 $9,850 $23,998 $33,382 $48,178
2017 $8,697 $22,317 $30,317 $45,764
2016 $7,823 $20,746 $26,459 $41,000
2015 $7,269 $18,896 $25,530 $38,369
2014 $8,070 $17,991 $27,425 $35,206
2013 $7,796 $16,894 $25,416 $33,138
2012 $7,432 $16,327 $22,878 $30,716
2011 $7,850 $15,747 $23,517 $29,426
2010 $6,854 $14,954 $21,947 $28,909
2009 $6,989 $14,188 $21,262 $26,782
2008 $7,272 $14,347 $22,406 $26,654
2007 $5,889 $12,822 $19,444 $25,012
2006 $4,523 $11,406 $16,654 $23,219
2005 $3,900 $10,291 $15,831 $22,227
2004 $3,390 $9,200 $15,212 $21,566
2003 $2,720 $8,416 $13,594 $20,813
2002 $2,093 $7,786 $11,251 $19,532
2001 $1,771 $6,960 $10,358 $18,435
2000 $1,621 $6,424 $10,348 $18,214
1999 $1,661 $5,808 $10,609 $16,898
1998 $1,821 $6,178 $10,408 $16,219
1997 $1,361 $5,751 $9,893 $15,465
1996 $1,470 $6,849 $10,062 $14,661
1995 $2,259 $7,743 $9,828 $13,950
1994 $1,150 $7,338 $8,000 $12,938
1993 $1,279 $7,032 $7,296 $12,103
1992 $1,007 $6,917 $8,220 $11,429
1991 $884 $7,215 $7,559 $10,784
1990 $2,377 $7,548 $7,192 $10,086
1989 $2,450 - $6,041 -
1988 $2,561 - $5,814 -
1987 $3,169 - $5,084 -
1986 $2,262 - $4,195 -
1985 $1,960 - $3,322 -
1984 $1,943 - $3,333 -
1983 $1,897 - $3,527 -
1982 $2,221 - $3,788 -
1981 $2,256 - $3,898 -
1980 $2,261 - $3,948 -
1979 - - $3,196 -
1978 - - $2,559 -
1977 - - $2,038 -
1976 - - $1,727 -
1975 - - $1,560 -
1974 - - $1,245 -
1973 - - $1,144 -
1972 - - $976 -
1971 - - $874 -
1970 - - $828 -

Data sources: World Bank | Economy & Growth (1970–2025, retrieved 2026-07-08).

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

Bulgaria's GDP per capita is $20,328, ranking 58/197, compared to $47,907 in Malta, ranking 28/197. Adjusted for purchasing power (GDP per capita PPP), Bulgaria ranks 54th at $41,969, while Malta ranks 25th at $69,864.

Economic indicators

Bulgaria Malta
Gross domestic product
$131B
2025
$27.8B
2025
GDP rank
63/197
2025
118/197
2025
GDP growth
3.1%
2024-2025
3.96%
2024-2025
GDP per capita
$20,328
2025
$47,907
2025
GDP per capita rank
58/197
2025
28/197
2025
GDP per capita, PPP
$41,969
2024
$69,864
2024
GDP per capita PPP rank
54/197
2024
25/197
2024
Government debt
$35.4B
2025
$13B
2025
Debt-to-GDP ratio
27.1%
2025
46.8%
2025
Government debt per person
$5,507
2025
$22,407
2025
Government debt per person rank
79/185
2025
30/185
2025
Average annual personal income after taxes
$16,126
2026
$22,914
2026
Market capitalization of domestic companies
$11.2B
2025
$5.35B
2025
Number of billionaires
2
2026
n/a
Income share by richest 10%
31.1%
2023
24.7%
2023
Income share by poorest 10%
2.1%
2023
2.8%
2023
Government expenditure, % of GDP
38.9%
2025
37%
2025
Consumer prices inflation
3.5%
2024-2025
2.36%
2024-2025
Central bank interest rate
1.81%
2025
n/a
Unemployment rate
3.5%
2025
3.1%
2025
Population
6390149
586345

Spending and national debt comparison by year

Bulgaria
Spending

Debt
Malta
Spending

Debt
1x
Year % of GDP
Bulgaria Malta
Government spending Government debt Government spending Government debt
2025 38.9% 27.1% 37% 46.8%
2024 36.3% 23.8% 37.4% 46%
2023 37.5% 22.9% 35.8% 46.8%
2022 37.6% 22.5% 38.4% 50.1%
2021 38.5% 23.9% 39.5% 49.6%
2020 37.7% 22.7% 42.1% 48.6%
2019 36.1% 18.4% 34.9% 39.2%
2018 34.4% 20.1% 34.5% 41.4%
2017 32% 22.9% 32.7% 45.6%
2016 32.7% 27% 35.5% 53.1%
2015 37.3% 25.4% 37.8% 55%
2014 37.1% 26.3% 39.6% 60.7%
2013 35.5% 17.2% 40.1% 64.9%
2012 32.5% 16.5% 41.7% 65.6%
2011 32% 14.3% 41.5% 68.9%
2010 34.6% 14.1% 40.1% 65%
2009 33.8% 14.5% 41.1% 66%
2008 33.5% 14.7% 42.1% 61.5%
2007 33.1% 17.6% 41.2% 62%
2006 32.5% 22.6% 42.5% 64.5%
2005 34% 28.5% 42.5% 70.2%
2004 34.6% 37.8% 42% 70.4%
2003 35.8% 45.4% 45.6% 68.6%
2002 35.1% 53.4% 43.6% 65.1%
2001 36.5% 67.1% 44.4% 70%
2000 37.1% 73.3% 42.9% 64.4%
1999 36.2% 78.7% - 69.8%
1998 30.6% 67.3% - 66.4%
1997 32.9% 88.4% - 60.8%
1996 44% 113.8% - 51.5%
1995 45.4% 72% - 45.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1995–1997, retrieved 2026-07-08).

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

In 2025, Bulgaria's government spending was $50.8B, accounting for 38.9% of its GDP, while Malta spent $10.3B, or 37% of GDP.

Debt-to-GDP ratio is 27.1% in Bulgaria and 46.8% in Malta, ranking 164/185 and 113/185, respectively.

Government deficit by year

Deficit/surplus
Bulgaria

Malta
1x
Year Deficit/surplus, % of GDP
Bulgaria Malta
2025 -3.01% -3.1%
2024 -3.01% -3.51%
2023 -3.04% -4.43%
2022 -0.8% -5.33%
2021 -2.8% -6.96%
2020 -2.92% -8.71%
2019 -0.96% 0.72%
2018 0.12% 1.86%
2017 0.82% 3.4%
2016 1.54% 1.1%
2015 -2.77% -0.84%
2014 -3.65% -1.49%
2013 -1.75% -2.19%
2012 -0.43% -3.31%
2011 -1.83% -2.99%
2010 -3.77% -2.22%
2009 -0.86% -3.11%
2008 2.73% -4.06%
2007 3.09% -2.05%
2006 3.22% -2.46%
2005 2.19% -2.83%
2004 1.59% -4.28%
2003 0.003% -9.04%
2002 -0.61% -5.62%
2001 -0.58% -6.5%
2000 -0.6% -5.83%
1999 0.15% -
1998 1.08% -
1997 0.83% -
1996 -10.1% -
1995 -7.98% -
1994 - -
1993 - -
1992 - -
1991 - -
1990 - -
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 (1998–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1924–1997, retrieved 2026-07-08).

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

In 2025, Bulgaria's government deficit, the difference between spending and revenue, was $3.94B, equivalent to 3.01% of GDP. This compares to Malta's deficit of $861M, or 3.1% of GDP.

Over the past 26 years, Bulgaria recorded a fiscal deficit in 17 of those years, while Malta ran a deficit in 22 years. On average, Bulgaria posted an annual deficit equal to 0.7% of GDP, compared to deficit of 3.22% of GDP for Malta.

Inflation comparison by year

Inflation
Bulgaria

Malta
1x
Year Consumer prices inflation
Bulgaria Malta
2025 3.5% 2.36%
2024 2.6% 1.65%
2023 8.6% 5.09%
2022 13% 6.15%
2021 2.8% 1.5%
2020 1.2% 0.64%
2019 2.5% 1.64%
2018 2.6% 1.16%
2017 1.2% 1.36%
2016 -1.3% 0.64%
2015 -1.1% 1.1%
2014 -1.6% 0.31%
2013 0.4% 1.18%
2012 2.4% 2.38%
2011 3.4% 2.96%
2010 3% 1.52%
2009 2.5% 2.08%
2008 12% 4.26%
2007 7.6% 1.25%
2006 7.4% 2.77%
2005 6% 3.01%
2004 6.1% 2.79%
2003 2.3% 1.3%
2002 5.8% 2.19%
2001 7.4% 2.93%
2000 10.3% 2.37%
1999 2.6% 2.13%
1998 18.7% 2.39%
1997 1,061% 3.11%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Bulgaria has recorded an average annual inflation rate of 41.1%, compared with 2.22% in Malta. In 2025, inflation was 3.5% in Bulgaria and 2.36% in Malta.

Top exports between countries

Bulgaria
Export category Export value
IT & IP services $127M
Business & finance services $45M
Manufacturing & construction services $14.7M
Transport & tourism services $7.36M
Machinery & equipment $6.08M
Processed food, beverages & tobacco $3.28M
Raw materials & minerals $3.07M
Precious metals & jewellery $2.45M
Raw agricultural goods $2.11M
Textiles & consumer goods $2.04M
Malta
Export category Export value
Transport & tourism services $17.6M
Chemicals & pharma $6M
Business & finance services $2.36M
Machinery & equipment $1.26M
IT & IP services $670K
Raw materials & minerals $435K
Wood & paper products $137K
Precious metals & jewellery $32K
Processed food, beverages & tobacco $27K
Textiles & consumer goods $27K

Balance of trade

Bulgaria Malta
Current account balance
-$7.64B
2025
$1.78B
2024
Current account balance ranking
170/190
2025
45/190
2024
Current account balance, % of GDP
-5.84%
2025
+7.1%
2024
Goods imports
$58.5B
2025
$7.56B
2024
Goods exports
$47.9B
2025
$4.58B
2024
Service imports
$9.42B
2025
$17.4B
2024
Service exports
$18.6B
2025
$25B
2024
Imports of goods and services, % of GDP
51.8%
2025
99.9%
2025
Exports of goods and services, % of GDP
50.7%
2025
119.1%
2025

Economic freedom indices

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

Bulgaria Malta
Economic freedom 68.9 68.2
Economic freedom ranking 44/197 49/197
Property rights 75.8 85.5
Government integrity 48.4 54.3
Judicial effectiveness 58.5 80.2
Tax burden 89.1 68.5
Government spending 58.4 58.4
Fiscal health 90.4 63.2
Business freedom 78.2 83.2
Labor freedom 62.4 62.6
Monetary freedom 75.8 73.1
Trade freedom 79.4 79.4
Investment freedom 60 60
Financial freedom 50 50

Economic freedom comparison by year

Bulgaria
Malta
1x
Year Economic freedom index
Bulgaria Malta
2026 68.9 68.2
2025 68.8 66.8
2024 68.5 64.5
2023 69.3 67.5
2022 71 71.5
2021 70.4 70.2
2020 70.2 69.5
2019 69 68.6
2018 68.3 68.5
2017 67.9 67.7
2016 65.9 66.7
2015 66.8 66.5
2014 65.7 66.4
2013 65 67.5
2012 64.7 67
2011 64.9 65.7
2010 62.3 67.2
2009 64.6 66.1
2008 63.7 66
2007 62.7 66.1
2006 64.1 67.3
2005 62.3 68.9
2004 59.2 63.3
2003 57 61.1
2002 57.1 62.2
2001 51.9 62.9
2000 47.3 58.3
1999 46.2 59.3
1998 45.7 61.2
1997 47.6 57.9
1996 48.6 55.8
1995 50 56.3

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Bulgaria is 68.9, ranking 44/197, compared to 68.2 for Malta, ranking 49/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bulgaria Malta
Services, % of GDP
63.3%
2025
81.3%
2025
Industry, % of GDP
21.2%
2025
10.1%
2025
Agriculture, forestry, and fishing, % of GDP
2.47%
2025
0.47%
2025
GNI, Atlas method
$114B
2025
$24B
2025
GNI per capita, PPP
$42,170
2025
$64,900
2025
Total reserves including gold
$47.1B
2025
$1.54B
2025
Total reserves ranking
51/177
2025
134/177
2025
Net foreign direct investment
-$3.37B
2025
-$6.13B
2024
Net inflows of foreign direct investment
$3.05B
2024
$42.6B
2024
Net outflows of foreign direct investment
$1.21B
2024
$36.5B
2024
Servicing debt to the IMF, % of GNI
6.8%
2024
n/a
Poverty at national poverty lines
21.7%
2023
16.7%
2021
Gross capital formation, % of GDP
21.7%
2025
18.7%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1970–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1924–1997, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2022–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.