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Economy of Bulgaria vs Mongolia compared: GDP & Debt

Updated on by Georank

Bulgaria has a GDP of $131B compared to $25.4B for Mongolia, ranking 63/197 and 123/197 by economy size, respectively.

Bulgaria has $35.4B in government debt (27.1% of GDP), compared to $11.4B (45.1% of GDP) in Mongolia.

Bulgaria vs Mongolia GDP by year

Bulgaria
Mongolia
1x
Year GDP, current $
Bulgaria Mongolia
2025 $130,777,235,530 $25,369,107,325
2024 $113,349,149,167 $23,794,540,025
2023 $102,204,457,335 $20,325,121,394
2022 $90,510,784,778 $17,146,471,714
2021 $84,378,926,047 $15,286,441,738
2020 $70,490,478,088 $13,312,981,429
2019 $68,511,235,459 $14,206,359,018
2018 $66,100,606,677 $13,178,094,720
2017 $59,170,671,046 $11,480,847,741
2016 $53,932,152,154 $11,181,350,649
2015 $50,768,512,173 $11,619,892,591
2014 $57,083,817,240 $12,226,514,668
2013 $55,822,115,861 $12,582,122,604
2012 $54,299,825,600 $12,292,770,632
2011 $57,684,243,980 $10,409,797,378
2010 $50,691,645,231 $7,189,481,999
2009 $52,026,461,290 $4,583,850,368
2008 $54,483,464,293 $5,623,216,608
2007 $44,433,521,725 $4,234,999,704
2006 $34,382,295,487 $3,414,055,662
2005 $29,870,182,425 $2,523,471,601
2004 $26,159,078,743 $1,992,066,808
2003 $21,146,038,619 $1,595,297,356
2002 $16,403,880,783 $1,396,555,720
2001 $14,184,170,319 $1,267,997,934
2000 $13,246,669,554 $1,136,896,124
1999 $13,637,793,854 $1,057,408,589
1998 $15,031,821,788 $1,124,440,205
1997 $11,316,706,412 $1,180,934,203
1996 $12,295,588,924 $1,345,719,472
1995 $18,992,388,645 $1,452,165,005
1994 $9,709,230,161 $925,817,092
1993 $10,832,041,595 $768,401,634
1992 $8,602,874,120 $1,317,611,864
1991 $7,628,764,750 $2,379,018,326
1990 $20,726,605,649 $2,560,785,660
1989 $21,746,286,447 $3,576,966,800
1988 $23,003,003,708 $3,204,461,567
1987 $28,428,718,531 $3,020,611,600
1986 $20,261,546,635 $2,896,178,867
1985 $17,562,270,447 $2,186,505,475
1984 $17,410,894,971 $2,098,734,600
1983 $16,959,180,922 $2,725,736,633
1982 $19,803,624,625 $2,552,401,933
1981 $20,055,685,481 $2,310,099,100
1980 $20,039,544,133 $2,101,394,100

Data sources: World Bank | Economy & Growth (1980–2025, retrieved 2026-07-08).

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

GDP per capita in Bulgaria vs Mongolia by year

Bulgaria
GDP per capita

GDP per capita, PPP
Mongolia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bulgaria Mongolia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $20,328 - $7,108 -
2024 $17,597 $41,969 $6,751 $19,145
2023 $15,854 $38,829 $5,839 $18,005
2022 $14,000 $36,320 $4,994 $16,402
2021 $12,967 $30,959 $4,518 $14,792
2020 $10,761 $27,352 $4,001 $13,693
2019 $10,354 $26,766 $4,348 $13,605
2018 $9,850 $23,998 $4,108 $12,317
2017 $8,697 $22,317 $3,646 $11,096
2016 $7,823 $20,746 $3,620 $10,511
2015 $7,269 $18,896 $3,839 $10,458
2014 $8,070 $17,991 $4,126 $10,900
2013 $7,796 $16,894 $4,340 $10,442
2012 $7,432 $16,327 $4,329 $10,152
2011 $7,850 $15,747 $3,736 $8,862
2010 $6,854 $14,954 $2,625 $7,532
2009 $6,989 $14,188 $1,703 $7,119
2008 $7,272 $14,347 $2,127 $7,297
2007 $5,889 $12,822 $1,628 $6,678
2006 $4,523 $11,406 $1,330 $5,977
2005 $3,900 $10,291 $995 $5,406
2004 $3,390 $9,200 $794 $4,942
2003 $2,720 $8,416 $643 $4,399
2002 $2,093 $7,786 $570 $4,083
2001 $1,771 $6,960 $524 $3,889
2000 $1,621 $6,424 $476 $3,740
1999 $1,661 $5,808 $449 $3,664
1998 $1,821 $6,178 $484 $3,555
1997 $1,361 $5,751 $515 $3,449
1996 $1,470 $6,849 $596 $3,310
1995 $2,259 $7,743 $653 $3,229
1994 $1,150 $7,338 $423 $3,021
1993 $1,279 $7,032 $355 $2,929
1992 $1,007 $6,917 $608 $2,951
1991 $884 $7,215 $1,099 $3,183
1990 $2,377 $7,548 $1,220 $3,479
1989 $2,450 - $1,684 -
1988 $2,561 - $1,543 -
1987 $3,169 - $1,493 -
1986 $2,262 - $1,469 -
1985 $1,960 - $1,138 -
1984 $1,943 - $1,120 -
1983 $1,897 - $1,490 -
1982 $2,221 - $1,430 -
1981 $2,256 - $1,325 -
1980 $2,261 - $1,235 -

Data sources: World Bank | Economy & Growth (1980–2025, retrieved 2026-07-08).

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

Bulgaria's GDP per capita is $20,328, ranking 58/197, compared to $7,108 in Mongolia, ranking 103/197. Adjusted for purchasing power (GDP per capita PPP), Bulgaria ranks 54th at $41,969, while Mongolia ranks 98th at $19,145.

Economic indicators

Bulgaria Mongolia
Gross domestic product
$131B
2025
$25.4B
2025
GDP rank
63/197
2025
123/197
2025
GDP growth
3.1%
2024-2025
6.84%
2024-2025
GDP per capita
$20,328
2025
$7,108
2025
GDP per capita rank
58/197
2025
103/197
2025
GDP per capita, PPP
$41,969
2024
$19,145
2024
GDP per capita PPP rank
54/197
2024
98/197
2024
Government debt
$35.4B
2025
$11.4B
2025
Debt-to-GDP ratio
27.1%
2025
45.1%
2025
Government debt per person
$5,507
2025
$3,207
2025
Government debt per person rank
79/185
2025
101/185
2025
Average annual personal income after taxes
$16,126
2026
$7,064
2026
Market capitalization of domestic companies
$11.2B
2025
n/a
Number of billionaires
2
2026
n/a
Income share by richest 10%
31.1%
2023
24.6%
2022
Income share by poorest 10%
2.1%
2023
3.4%
2022
Government expenditure, % of GDP
38.9%
2025
34.6%
2025
Consumer prices inflation
3.5%
2024-2025
8.6%
2024-2025
Central bank interest rate
1.81%
2025
12%
2025
Unemployment rate
3.5%
2025
5.81%
2024
Population
6390149
3630744

Spending and national debt comparison by year

Bulgaria
Spending

Debt
Mongolia
Spending

Debt
1x
Year % of GDP
Bulgaria Mongolia
Government spending Government debt Government spending Government debt
2025 38.9% 27.1% 34.6% 45.1%
2024 36.3% 23.8% 37.5% 44.1%
2023 37.5% 22.9% 31.9% 46.7%
2022 37.6% 22.5% 33.7% 64.5%
2021 38.5% 23.9% 35.9% 67.3%
2020 37.7% 22.7% 37.1% 83.4%
2019 36.1% 18.4% 30.8% 66.8%
2018 34.4% 20.1% 28.4% 76.5%
2017 32% 22.9% 32.2% 86.9%
2016 32.7% 27% 39.7% 78.7%
2015 37.3% 25.4% 31.2% 50.5%
2014 37.1% 26.3% 32.1% 44%
2013 35.5% 17.2% 32.2% 49.4%
2012 32.5% 16.5% 36.1% 43.7%
2011 32% 14.3% 37.9% 32.7%
2010 34.6% 14.1% 31.6% 31%
2009 33.8% 14.5% 35.5% 48.5%
2008 33.5% 14.7% 37.6% 31%
2007 33.1% 17.6% 35.3% 36.1%
2006 32.5% 22.6% 26.2% 40.9%
2005 34% 28.5% 25.1% 55.9%
2004 34.6% 37.8% 31.8% 75%
2003 35.8% 45.4% 33.7% 90%
2002 35.1% 53.4% 35.5% 72%
2001 36.5% 67.1% 35.2% 69.2%
2000 37.1% 73.3% 34.5% 79.3%
1999 36.2% 78.7% 33.2% 103.7%
1998 30.6% 67.3% 36.2% 77.5%
1997 32.9% 88.4% 30.8% 61%
1996 44% 113.8% 28.6% 49.7%
1995 45.4% 72% 26.6% 40.2%
1994 - - 32.2% 57.6%
1993 - - 38.3% 57.8%
1992 - - 29.1% 29.3%
1991 - - 46% -
1990 - - 51.7% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1992–2005, retrieved 2026-07-08).

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

In 2025, Bulgaria's government spending was $50.8B, accounting for 38.9% of its GDP, while Mongolia spent $8.78B, or 34.6% of GDP.

Debt-to-GDP ratio is 27.1% in Bulgaria and 45.1% in Mongolia, ranking 164/185 and 116/185, respectively.

Government deficit by year

Deficit/surplus
Bulgaria

Mongolia
1x
Year Deficit/surplus, % of GDP
Bulgaria Mongolia
2025 -3.01% 1.7%
2024 -3.01% 1.39%
2023 -3.04% 2.73%
2022 -0.8% 0.67%
2021 -2.8% -3.05%
2020 -2.92% -9.24%
2019 -0.96% 1%
2018 0.12% 2.85%
2017 0.82% -3.72%
2016 1.54% -15.3%
2015 -2.77% -5.04%
2014 -3.65% -3.73%
2013 -1.75% -0.93%
2012 -0.43% -6.24%
2011 -1.83% -4.01%
2010 -3.77% 0.43%
2009 -0.86% -5.2%
2008 2.73% -4.52%
2007 3.09% 2.64%
2006 3.22% 7.58%
2005 2.19% 2.43%
2004 1.59% -1.62%
2003 0.003% -3.38%
2002 -0.61% -4.74%
2001 -0.58% -4.33%
2000 -0.6% -5.82%
1999 0.15% -9.91%
1998 1.08% -12.3%
1997 0.83% -8.09%
1996 -10.1% -6.88%
1995 -7.98% -4.97%
1994 - -9.74%
1993 - -13.3%
1992 - -8.1%
1991 - -6.37%
1990 - -9.37%
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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1924–1997, retrieved 2026-07-08).

GeoRank.org/economy/bulgaria/mongolia | 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 Mongolia's surplus of $432M, or 1.7% of GDP.

Over the past 31 years, Bulgaria recorded a fiscal deficit in 19 of those years, while Mongolia ran a deficit in 21 years. On average, Bulgaria posted an annual deficit equal to 1.1% of GDP, compared to deficit of 3.21% of GDP for Mongolia.

Inflation comparison by year

Inflation
Bulgaria

Mongolia
1x
Year Consumer prices inflation
Bulgaria Mongolia
2025 3.5% 8.6%
2024 2.6% 6.2%
2023 8.6% 10.4%
2022 13% 15.1%
2021 2.8% 7.4%
2020 1.2% 3.7%
2019 2.5% 7.3%
2018 2.6% 6.8%
2017 1.2% 4.3%
2016 -1.3% 0.8%
2015 -1.1% 6.8%
2014 -1.6% 12.9%
2013 0.4% 10.6%
2012 2.4% 13.8%
2011 3.4% 8.8%
2010 3% 8.3%
2009 2.5% 7.6%
2008 12% 28%
2007 7.6% 9.6%
2006 7.4% 4.4%
2005 6% 12.6%
2004 6.1% 8.3%
2003 2.3% 5.2%
2002 5.8% 0.9%
2001 7.4% 6.4%
2000 10.3% 11.3%
1999 2.6% 7.6%
1998 18.7% 9.5%
1997 1,061% 30%

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

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

Over the past 29 years, Bulgaria has recorded an average annual inflation rate of 41.1%, compared with 9.42% in Mongolia. In 2025, inflation was 3.5% in Bulgaria and 8.6% in Mongolia.

Top exports between countries

Bulgaria
Export category Export value
Machinery & equipment $5.23M
Chemicals & pharma $1.2M
Textiles & consumer goods $1.2M
Metals $1.1M
Processed food, beverages & tobacco $1.1M
Raw materials & minerals $51K
Miscellaneous $25K
Wood & paper products $3K
Mongolia
Export category Export value
Textiles & consumer goods $17K
Animal & marine products $14K
Chemicals & pharma $3K
Machinery & equipment $1K

Balance of trade

Bulgaria Mongolia
Current account balance
-$7.64B
2025
-$2.49B
2024
Current account balance ranking
170/190
2025
147/190
2024
Current account balance, % of GDP
-5.84%
2025
-10.4%
2024
Goods imports
$58.5B
2025
$11.7B
2024
Goods exports
$47.9B
2025
$14.7B
2024
Service imports
$9.42B
2025
$4.92B
2024
Service exports
$18.6B
2025
$1.6B
2024
Imports of goods and services, % of GDP
51.8%
2025
62.6%
2025
Exports of goods and services, % of GDP
50.7%
2025
68.1%
2025

Economic freedom indices

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

Bulgaria Mongolia
Economic freedom 68.9 63.9
Economic freedom ranking 44/197 76/197
Property rights 75.8 49.2
Government integrity 48.4 35.8
Judicial effectiveness 58.5 54.9
Tax burden 89.1 83.7
Government spending 58.4 64.6
Fiscal health 90.4 96.1
Business freedom 78.2 68.4
Labor freedom 62.4 68.2
Monetary freedom 75.8 72.1
Trade freedom 79.4 74.4
Investment freedom 60 50
Financial freedom 50 50

Economic freedom comparison by year

Bulgaria
Mongolia
1x
Year Economic freedom index
Bulgaria Mongolia
2026 68.9 63.9
2025 68.8 62.6
2024 68.5 60.6
2023 69.3 61.7
2022 71 63.9
2021 70.4 62.4
2020 70.2 55.9
2019 69 55.4
2018 68.3 55.7
2017 67.9 54.8
2016 65.9 59.4
2015 66.8 59.2
2014 65.7 58.9
2013 65 61.7
2012 64.7 61.5
2011 64.9 59.5
2010 62.3 60
2009 64.6 62.8
2008 63.7 63.6
2007 62.7 60.3
2006 64.1 62.4
2005 62.3 59.7
2004 59.2 56.5
2003 57 57.7
2002 57.1 56.7
2001 51.9 56
2000 47.3 58.5
1999 46.2 58.6
1998 45.7 57.3
1997 47.6 52.9
1996 48.6 47.4
1995 50 47.8

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

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

The Economic Freedom Index for Bulgaria is 68.9, ranking 44/197, compared to 63.9 for Mongolia, ranking 76/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bulgaria Mongolia
Services, % of GDP
63.3%
2025
44.3%
2025
Industry, % of GDP
21.2%
2025
37.2%
2025
Agriculture, forestry, and fishing, % of GDP
2.47%
2025
8.94%
2025
GNI, Atlas method
$114B
2025
$22.2B
2025
GNI per capita, PPP
$42,170
2025
$18,460
2025
Total reserves including gold
$47.1B
2025
$7B
2025
Total reserves ranking
51/177
2025
91/177
2025
Net foreign direct investment
-$3.37B
2025
-$2.73B
2024
Net inflows of foreign direct investment
$3.05B
2024
$2.78B
2024
Net outflows of foreign direct investment
$1.21B
2024
$55.5M
2024
Servicing debt to the IMF, % of GNI
6.8%
2024
25.7%
2024
Poverty at national poverty lines
21.7%
2023
27.1%
2022
Gross capital formation, % of GDP
21.7%
2025
31.4%
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/mongolia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1980–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, 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 (1924–2005, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2023–2025, 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.