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Economy of Bulgaria vs Nigeria compared: GDP & Debt

Updated on by Georank

Bulgaria has a GDP of $131B compared to $291B for Nigeria, ranking 63/197 and 50/197 by economy size, respectively.

Bulgaria has $35.4B in government debt (27.1% of GDP), compared to $103B (35.5% of GDP) in Nigeria.

Bulgaria vs Nigeria GDP by year

Bulgaria
Nigeria
1x
Year GDP, current $
Bulgaria Nigeria
2025 $130,777,235,530 $290,794,361,542
2024 $113,349,149,167 $252,261,880,140
2023 $102,204,457,335 $487,387,801,878
2022 $90,510,784,778 $646,950,257,575
2021 $84,378,926,047 $609,147,716,965
2020 $70,490,478,088 $598,586,817,817
2019 $68,511,235,459 $668,219,992,687
2018 $66,100,606,677 $421,739,251,509
2017 $59,170,671,046 $375,745,731,053
2016 $53,932,152,154 $404,649,125,252
2015 $50,768,512,173 $493,026,682,801
2014 $57,083,817,240 $574,183,763,412
2013 $55,822,115,861 $520,117,180,314
2012 $54,299,825,600 $463,971,018,239
2011 $57,684,243,980 $414,466,676,831
2010 $50,691,645,231 $366,990,417,129
2009 $52,026,461,290 $295,008,835,381
2008 $54,483,464,293 $339,476,276,258
2007 $44,433,521,725 $278,260,846,800
2006 $34,382,295,487 $238,454,997,161
2005 $29,870,182,425 $175,670,569,969
2004 $26,159,078,743 $135,764,731,646
2003 $21,146,038,619 $104,738,954,264
2002 $16,403,880,783 $95,054,059,303
2001 $14,184,170,319 $73,557,840,064
2000 $13,246,669,554 $69,171,451,627
1999 $13,637,793,854 $59,145,077,039
1998 $15,031,821,788 $218,416,200,673
1997 $11,316,706,412 $200,850,397,618
1996 $12,295,588,924 $185,730,236,700
1995 $18,992,388,645 $140,919,776,986
1994 $9,709,230,161 $80,399,613,064
1993 $10,832,041,595 $56,721,051,402
1992 $8,602,874,120 $52,058,181,854
1991 $7,628,764,750 $59,526,833,412
1990 $20,726,605,649 $54,035,795,388
1989 $21,746,286,447 $44,003,061,108
1988 $23,003,003,708 $49,648,470,440
1987 $28,428,718,531 $52,676,041,931
1986 $20,261,546,635 $54,805,852,581
1985 $17,562,270,447 $73,745,821,158
1984 $17,410,894,971 $73,484,359,521
1983 $16,959,180,922 $97,094,911,792
1982 $19,803,624,625 $142,769,363,314
1981 $20,055,685,481 $164,475,209,516
1980 $20,039,544,133 $64,201,788,123
1979 - $47,259,911,894
1978 - $36,527,862,209
1977 - $36,035,407,725
1976 - $36,308,883,249
1975 - $27,778,934,625
1974 - $24,846,641,318
1973 - $15,162,871,287
1972 - $12,274,416,018
1971 - $9,181,769,912
1970 - $12,546,094,982
1969 - $6,634,317,346
1968 - $5,200,997,920
1967 - $5,203,237,919
1966 - $6,366,917,453
1965 - $5,874,537,650
1964 - $5,552,931,319
1963 - $5,165,590,254
1962 - $4,909,399,176
1961 - $4,467,287,893
1960 - $4,196,174,502

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Bulgaria vs Nigeria by year

Bulgaria
GDP per capita

GDP per capita, PPP
Nigeria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bulgaria Nigeria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $20,328 - $1,224 -
2024 $17,597 $41,969 $1,084 $9,087
2023 $15,854 $38,829 $2,139 $8,705
2022 $14,000 $36,320 $2,899 $8,305
2021 $12,967 $30,959 $2,787 $7,588
2020 $10,761 $27,352 $2,797 $7,415
2019 $10,354 $26,766 $3,190 $7,551
2018 $9,850 $23,998 $2,058 $7,158
2017 $8,697 $22,317 $1,876 $7,037
2016 $7,823 $20,746 $2,070 $7,072
2015 $7,269 $18,896 $2,586 $7,308
2014 $8,070 $17,991 $3,089 $7,396
2013 $7,796 $16,894 $2,873 $7,004
2012 $7,432 $16,327 $2,633 $6,671
2011 $7,850 $15,747 $2,418 $6,585
2010 $6,854 $14,954 $2,202 $6,301
2009 $6,989 $14,188 $1,820 $5,927
2008 $7,272 $14,347 $2,154 $5,607
2007 $5,889 $12,822 $1,816 $5,298
2006 $4,523 $11,406 $1,600 $4,975
2005 $3,900 $10,291 $1,211 $4,678
2004 $3,390 $9,200 $962 $4,381
2003 $2,720 $8,416 $763 $4,015
2002 $2,093 $7,786 $712 $3,770
2001 $1,771 $6,960 $566 $3,309
2000 $1,621 $6,424 $547 $3,139
1999 $1,661 $5,808 $481 $3,002
1998 $1,821 $6,178 $1,822 $3,022
1997 $1,361 $5,751 $1,720 $2,990
1996 $1,470 $6,849 $1,633 $2,931
1995 $2,259 $7,743 $1,272 $2,835
1994 $1,150 $7,338 $745 $2,853
1993 $1,279 $7,032 $540 $2,921
1992 $1,007 $6,917 $509 $2,991
1991 $884 $7,215 $597 $2,870
1990 $2,377 $7,548 $556 $2,840
1989 $2,450 - $465 -
1988 $2,561 - $540 -
1987 $3,169 - $588 -
1986 $2,262 - $628 -
1985 $1,960 - $869 -
1984 $1,943 - $890 -
1983 $1,897 - $1,207 -
1982 $2,221 - $1,822 -
1981 $2,256 - $2,162 -
1980 $2,261 - $870 -
1979 - - $661 -
1978 - - $527 -
1977 - - $536 -
1976 - - $556 -
1975 - - $438 -
1974 - - $403 -
1973 - - $252.4 -
1972 - - $209.5 -
1971 - - $160.5 -
1970 - - $224.5 -
1969 - - $121.4 -
1968 - - $97.3 -
1967 - - $99.5 -
1966 - - $124.4 -
1965 - - $117.3 -
1964 - - $113.3 -
1963 - - $107.7 -
1962 - - $104.5 -
1961 - - $97.1 -
1960 - - $93.1 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Bulgaria's GDP per capita is $20,328, ranking 58/197, compared to $1,224 in Nigeria, ranking 172/197. Adjusted for purchasing power (GDP per capita PPP), Bulgaria ranks 54th at $41,969, while Nigeria ranks 136th at $9,087.

Economic indicators

Bulgaria Nigeria
Gross domestic product
$131B
2025
$291B
2025
GDP rank
63/197
2025
50/197
2025
GDP growth
3.1%
2024-2025
4.01%
2024-2025
GDP per capita
$20,328
2025
$1,224
2025
GDP per capita rank
58/197
2025
172/197
2025
GDP per capita, PPP
$41,969
2024
$9,087
2024
GDP per capita PPP rank
54/197
2024
136/197
2024
Government debt
$35.4B
2025
$103B
2025
Debt-to-GDP ratio
27.1%
2025
35.5%
2025
Government debt per person
$5,507
2025
$434
2025
Government debt per person rank
79/185
2025
170/185
2025
Average annual personal income after taxes
$16,126
2026
$768
2026
Market capitalization of domestic companies
$11.2B
2025
$86.9B
2025
Number of billionaires
2
2026
4
2026
Income share by richest 10%
31.1%
2023
26.3%
2022
Income share by poorest 10%
2.1%
2023
3%
2022
Government expenditure, % of GDP
38.9%
2025
11.7%
2025
Consumer prices inflation
3.5%
2024-2025
23%
2024-2025
Central bank interest rate
1.81%
2025
26.5%
2026
Unemployment rate
3.5%
2025
3.45%
2024
Population
6390149
245016045

Spending and national debt comparison by year

Bulgaria
Spending

Debt
Nigeria
Spending

Debt
1x
Year % of GDP
Bulgaria Nigeria
Government spending Government debt Government spending Government debt
2025 38.9% 27.1% 11.7% 35.5%
2024 36.3% 23.8% 12% 39.3%
2023 37.5% 22.9% 10.4% 36.3%
2022 37.6% 22.5% 10.6% 29.8%
2021 38.5% 23.9% 9.09% 26.6%
2020 37.7% 22.7% 8.73% 25.7%
2019 36.1% 18.4% 8.87% 21.4%
2018 34.4% 20.1% 9.1% 20.4%
2017 32% 22.9% 8.51% 18%
2016 32.7% 27% 6.93% 17.4%
2015 37.3% 25.4% 7.85% 14.9%
2014 37.1% 26.3% 9.49% 15.8%
2013 35.5% 17.2% 10% 13%
2012 32.5% 16.5% 10.5% 12.5%
2011 32% 14.3% 12.3% 12.4%
2010 34.6% 14.1% 11.8% 6.67%
2009 33.8% 14.5% 11% 6.12%
2008 33.5% 14.7% 10.2% 5.17%
2007 33.1% 17.6% 12.9% 5.76%
2006 32.5% 22.6% 8.75% 6.68%
2005 34% 28.5% 12.6% 13.4%
2004 34.6% 37.8% 13% 25.2%
2003 35.8% 45.4% 16.5% 29.9%
2002 35.1% 53.4% 13.8% 30.7%
2001 36.5% 67.1% 21.9% 37.7%
2000 37.1% 73.3% 17.6% 40.9%
1999 36.2% 78.7% 14.9% 46.1%
1998 30.6% 67.3% 11.2% 15.8%
1997 32.9% 88.4% 9.68% 17.1%
1996 44% 113.8% 7.87% 17.9%
1995 45.4% 72% 8.87% 24.2%
1994 - - 12.1% 39.7%
1993 - - 20% 50.4%
1992 - - 15.9% 49.8%
1991 - - 13.6% 53.2%
1990 - - 14.2% 50.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1995–1997, retrieved 2026-07-08).

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

In 2025, Bulgaria's government spending was $50.8B, accounting for 38.9% of its GDP, while Nigeria spent $34.1B, or 11.7% of GDP.

Debt-to-GDP ratio is 27.1% in Bulgaria and 35.5% in Nigeria, ranking 164/185 and 143/185, respectively.

Government deficit by year

Deficit/surplus
Bulgaria

Nigeria
1x
Year Deficit/surplus, % of GDP
Bulgaria Nigeria
2025 -3.01% -1.76%
2024 -3.01% -1.27%
2023 -3.04% -3.12%
2022 -0.8% -4%
2021 -2.8% -3.97%
2020 -2.92% -4.03%
2019 -0.96% -3.31%
2018 0.12% -3.06%
2017 0.82% -3.85%
2016 1.54% -3.3%
2015 -2.77% -2.7%
2014 -3.65% -1.72%
2013 -1.75% -1.89%
2012 -0.43% -0.09%
2011 -1.83% 0.31%
2010 -3.77% -2.96%
2009 -0.86% -3.78%
2008 2.73% 4.05%
2007 3.09% -0.79%
2006 3.22% 6.22%
2005 2.19% 3.49%
2004 1.59% 3.9%
2003 0.003% -1.56%
2002 -0.61% 0.95%
2001 -0.58% -2.29%
2000 -0.6% 2.89%
1999 0.15% -1.39%
1998 1.08% -3.47%
1997 0.83% 1.14%
1996 -10.1% 3.37%
1995 -7.98% 2.52%
1994 - -2.96%
1993 - -6.07%
1992 - 0.94%
1991 - -1.18%
1990 - -0.48%
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/nigeria | 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 Nigeria's deficit of $5.12B, or 1.76% of GDP.

Over the past 31 years, Bulgaria recorded a fiscal deficit in 19 of those years, while Nigeria ran a deficit in 21 years. On average, Bulgaria posted an annual deficit equal to 1.1% of GDP, compared to deficit of 0.82% of GDP for Nigeria.

Inflation comparison by year

Inflation
Bulgaria

Nigeria
1x
Year Consumer prices inflation
Bulgaria Nigeria
2025 3.5% 23%
2024 2.6% 33.2%
2023 8.6% 24.7%
2022 13% 18.8%
2021 2.8% 17%
2020 1.2% 13.2%
2019 2.5% 11.4%
2018 2.6% 12.1%
2017 1.2% 16.5%
2016 -1.3% 15.7%
2015 -1.1% 9.01%
2014 -1.6% 8.05%
2013 0.4% 8.5%
2012 2.4% 12.2%
2011 3.4% 10.8%
2010 3% 13.7%
2009 2.5% 12.5%
2008 12% 11.6%
2007 7.6% 5.39%
2006 7.4% 8.23%
2005 6% 17.9%
2004 6.1% 15%
2003 2.3% 14%
2002 5.8% 12.9%
2001 7.4% 18.9%
2000 10.3% 6.93%
1999 2.6% 6.62%
1998 18.7% 10%
1997 1,061% 8.53%

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/nigeria | CC BY

Over the past 29 years, Bulgaria has recorded an average annual inflation rate of 41.1%, compared with 13.7% in Nigeria. In 2025, inflation was 3.5% in Bulgaria and 23% in Nigeria.

Top exports between countries

Bulgaria
Export category Export value
Raw materials & minerals $29.8M
Weapons & explosives $21.5M
Business & finance services $3.08M
Machinery & equipment $2.95M
Processed food, beverages & tobacco $1.95M
IT & IP services $1.41M
Transport & tourism services $757K
Textiles & consumer goods $463K
Metals $310K
Miscellaneous $161K
Nigeria
Export category Export value
Processed food, beverages & tobacco $25.9M
Wood & paper products $675K
Raw agricultural goods $201K
Raw materials & minerals $123K
Textiles & consumer goods $87K
Chemicals & pharma $69K

Balance of trade

Bulgaria Nigeria
Current account balance
-$7.64B
2025
$14B
2025
Current account balance ranking
170/190
2025
21/190
2025
Current account balance, % of GDP
-5.84%
2025
+4.83%
2025
Goods imports
$58.5B
2025
$43B
2025
Goods exports
$47.9B
2025
$57.5B
2025
Service imports
$9.42B
2025
$19.6B
2025
Service exports
$18.6B
2025
$5.06B
2025
Imports of goods and services, % of GDP
51.8%
2025
16.9%
1960
Exports of goods and services, % of GDP
50.7%
2025
9.24%
1960

Economic freedom indices

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

Bulgaria Nigeria
Economic freedom 68.9 54.8
Economic freedom ranking 44/197 132/197
Property rights 75.8 29.7
Government integrity 48.4 23.5
Judicial effectiveness 58.5 34.4
Tax burden 89.1 84.6
Government spending 58.4 96.3
Fiscal health 90.4 83.5
Business freedom 78.2 50.3
Labor freedom 62.4 75.4
Monetary freedom 75.8 56.1
Trade freedom 79.4 64.4
Investment freedom 60 30
Financial freedom 50 30

Economic freedom comparison by year

Bulgaria
Nigeria
1x
Year Economic freedom index
Bulgaria Nigeria
2026 68.9 54.8
2025 68.8 53.4
2024 68.5 53.1
2023 69.3 53.9
2022 71 54.4
2021 70.4 58.7
2020 70.2 57.2
2019 69 57.3
2018 68.3 58.5
2017 67.9 57.1
2016 65.9 57.5
2015 66.8 55.6
2014 65.7 54.3
2013 65 55.1
2012 64.7 56.3
2011 64.9 56.7
2010 62.3 56.8
2009 64.6 55.1
2008 63.7 55.1
2007 62.7 55.6
2006 64.1 48.7
2005 62.3 48.4
2004 59.2 49.2
2003 57 49.5
2002 57.1 50.9
2001 51.9 49.6
2000 47.3 53.1
1999 46.2 55.7
1998 45.7 52.3
1997 47.6 52.8
1996 48.6 47.4
1995 50 47.3

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

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

The Economic Freedom Index for Bulgaria is 68.9, ranking 44/197, compared to 54.8 for Nigeria, ranking 132/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bulgaria Nigeria
Services, % of GDP
63.3%
2025
58.2%
2025
Industry, % of GDP
21.2%
2025
16.4%
2025
Agriculture, forestry, and fishing, % of GDP
2.47%
2025
23%
2025
GNI, Atlas method
$114B
2025
$324B
2025
GNI per capita, PPP
$42,170
2025
$9,230
2025
Total reserves including gold
$47.1B
2025
$46B
2025
Total reserves ranking
51/177
2025
52/177
2025
Net foreign direct investment
-$3.37B
2025
-$2.82B
2025
Net inflows of foreign direct investment
$3.05B
2024
$1.61B
2024
Net outflows of foreign direct investment
$1.21B
2024
$408M
2024
Servicing debt to the IMF, % of GNI
6.8%
2024
5.46%
2024
Poverty at national poverty lines
21.7%
2023
56.2%
2023
Gross capital formation, % of GDP
21.7%
2025
n/a

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/nigeria | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, 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 (1924–1997, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2020–2025, 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.