Skip to content

Economy of Bulgaria vs Russia compared: GDP & Debt

Updated on by Georank

Bulgaria has a GDP of $131B compared to $2.56T for Russia, ranking 63/197 and 8/197 by economy size, respectively.

Bulgaria has $35.4B in government debt (27.1% of GDP), compared to $440B (17.2% of GDP) in Russia.

Bulgaria vs Russia GDP by year

Bulgaria
Russia
1x
Year GDP, current $
Bulgaria Russia
2025 $130,777,235,530 $2,561,310,169,359
2024 $113,349,149,167 $2,186,462,268,813
2023 $102,204,457,335 $2,046,284,838,151
2022 $90,510,784,778 $2,292,495,097,681
2021 $84,378,926,047 $1,829,186,719,575
2020 $70,490,478,088 $1,493,075,894,362
2019 $68,511,235,459 $1,693,115,002,708
2018 $66,100,606,677 $1,657,328,773,461
2017 $59,170,671,046 $1,574,199,360,089
2016 $53,932,152,154 $1,276,786,350,881
2015 $50,768,512,173 $1,363,482,182,198
2014 $57,083,817,240 $2,059,241,589,895
2013 $55,822,115,861 $2,292,470,078,346
2012 $54,299,825,600 $2,208,293,553,878
2011 $57,684,243,980 $2,045,922,753,398
2010 $50,691,645,231 $1,524,916,715,224
2009 $52,026,461,290 $1,222,645,900,056
2008 $54,483,464,293 $1,660,848,058,303
2007 $44,433,521,725 $1,299,703,478,482
2006 $34,382,295,487 $989,932,071,353
2005 $29,870,182,425 $764,015,973,481
2004 $26,159,078,743 $591,016,690,732
2003 $21,146,038,619 $430,347,420,185
2002 $16,403,880,783 $345,470,494,418
2001 $14,184,170,319 $306,602,070,621
2000 $13,246,669,554 $259,710,142,197
1999 $13,637,793,854 $195,907,128,351
1998 $15,031,821,788 $270,955,486,862
1997 $11,316,706,412 $404,928,954,192
1996 $12,295,588,924 $391,724,890,744
1995 $18,992,388,645 $395,537,185,735
1994 $9,709,230,161 $395,077,301,248
1993 $10,832,041,595 $435,083,713,851
1992 $8,602,874,120 $460,290,556,901
1991 $7,628,764,750 $517,962,962,963
1990 $20,726,605,649 $517,014,446,228
1989 $21,746,286,447 $506,631,299,735
1988 $23,003,003,708 $554,828,660,436
1987 $28,428,718,531 -
1986 $20,261,546,635 -
1985 $17,562,270,447 -
1984 $17,410,894,971 -
1983 $16,959,180,922 -
1982 $19,803,624,625 -
1981 $20,055,685,481 -
1980 $20,039,544,133 -

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

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

GDP per capita in Bulgaria vs Russia by year

Bulgaria
GDP per capita

GDP per capita, PPP
Russia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bulgaria Russia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $20,328 - $17,847 -
2024 $17,597 $41,969 $15,219 $47,362
2023 $15,854 $38,829 $14,227 $44,269
2022 $14,000 $36,320 $15,894 $40,939
2021 $12,967 $30,959 $12,637 $38,638
2020 $10,761 $27,352 $10,280 $31,491
2019 $10,354 $26,766 $11,640 $30,964
2018 $9,850 $23,998 $11,399 $28,629
2017 $8,697 $22,317 $10,835 $25,778
2016 $7,823 $20,746 $8,804 $24,012
2015 $7,269 $18,896 $9,427 $23,994
2014 $8,070 $17,991 $14,277 $25,688
2013 $7,796 $16,894 $15,941 $26,020
2012 $7,432 $16,327 $15,402 $24,274
2011 $7,850 $15,747 $14,305 $22,790
2010 $6,854 $14,954 $10,675 $20,490
2009 $6,989 $14,188 $8,563 $19,390
2008 $7,272 $14,347 $11,635 $20,164
2007 $5,889 $12,822 $9,101 $16,648
2006 $4,523 $11,406 $6,920 $14,912
2005 $3,900 $10,291 $5,323 $11,822
2004 $3,390 $9,200 $4,102 $10,227
2003 $2,720 $8,416 $2,975 $9,255
2002 $2,093 $7,786 $2,378 $8,037
2001 $1,771 $6,960 $2,100 $7,361
2000 $1,621 $6,424 $1,772 $6,825
1999 $1,661 $5,808 $1,331 $5,914
1998 $1,821 $6,178 $1,835 $5,465
1997 $1,361 $5,751 $2,738 $5,700
1996 $1,470 $6,849 $2,644 $5,518
1995 $2,259 $7,743 $2,666 $5,613
1994 $1,150 $7,338 $2,662 $5,734
1993 $1,279 $7,032 $2,931 $6,420
1992 $1,007 $6,917 $3,099 $6,862
1991 $884 $7,215 $3,490 $7,858
1990 $2,377 $7,548 $3,494 $8,028
1989 $2,450 - $3,430 -
1988 $2,561 - $3,778 -
1987 $3,169 - - -
1986 $2,262 - - -
1985 $1,960 - - -
1984 $1,943 - - -
1983 $1,897 - - -
1982 $2,221 - - -
1981 $2,256 - - -
1980 $2,261 - - -

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

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

Bulgaria's GDP per capita is $20,328, ranking 58/197, compared to $17,847 in Russia, ranking 68/197. Adjusted for purchasing power (GDP per capita PPP), Bulgaria ranks 54th at $41,969, while Russia ranks 50th at $47,362.

Economic indicators

Bulgaria Russia
Gross domestic product
$131B
2025
$2.56T
2025
GDP rank
63/197
2025
8/197
2025
GDP growth
3.1%
2024-2025
1%
2024-2025
GDP per capita
$20,328
2025
$17,847
2025
GDP per capita rank
58/197
2025
68/197
2025
GDP per capita, PPP
$41,969
2024
$47,362
2024
GDP per capita PPP rank
54/197
2024
50/197
2024
Government debt
$35.4B
2025
$440B
2025
Debt-to-GDP ratio
27.1%
2025
17.2%
2025
Government debt per person
$5,507
2025
$3,068
2025
Government debt per person rank
79/185
2025
105/185
2025
Average annual personal income after taxes
$16,126
2026
$11,183
2026
Market capitalization of domestic companies
$11.2B
2025
$650B
2023
Number of millionaires n/a
447,000
2026
Number of billionaires
2
2026
147
2026
Income share by richest 10%
31.1%
2023
25.1%
2023
Income share by poorest 10%
2.1%
2023
3.1%
2023
Government expenditure, % of GDP
38.9%
2025
39.1%
2025
Consumer prices inflation
3.5%
2024-2025
8.7%
2024-2025
Central bank interest rate
1.81%
2025
14.5%
2026
Unemployment rate
3.5%
2025
2.13%
2025
Population
6390149
142643173

Spending and national debt comparison by year

Bulgaria
Spending

Debt
Russia
Spending

Debt
1x
Year % of GDP
Bulgaria Russia
Government spending Government debt Government spending Government debt
2025 38.9% 27.1% 39.1% 17.2%
2024 36.3% 23.8% 36.7% 14.8%
2023 37.5% 22.9% 36.1% 15.2%
2022 37.6% 22.5% 35.1% 15.1%
2021 38.5% 23.9% 34.9% 16.5%
2020 37.7% 22.7% 39.2% 19.2%
2019 36.1% 18.4% 33.8% 13.7%
2018 34.4% 20.1% 32.6% 13.6%
2017 32% 22.9% 34.8% 14.3%
2016 32.7% 27% 36.6% 14.8%
2015 37.3% 25.4% 35.3% 15.3%
2014 37.1% 26.3% 34.9% 15.1%
2013 35.5% 17.2% 34.7% 12.3%
2012 32.5% 16.5% 34% 11.2%
2011 32% 14.3% 33.3% 10.3%
2010 34.6% 14.1% 35.5% 10.1%
2009 33.8% 14.5% 38.6% 9.92%
2008 33.5% 14.7% 32% 7.45%
2007 33.1% 17.6% 31.9% 8.03%
2006 32.5% 22.6% 29% 9.8%
2005 34% 28.5% 29.5% 14.9%
2004 34.6% 37.8% 29.6% 20.8%
2003 35.8% 45.4% 32.6% 28.3%
2002 35.1% 53.4% 33.8% 37.6%
2001 36.5% 67.1% 31.5% 44.4%
2000 37.1% 73.3% 30.7% 55.9%
1999 36.2% 78.7% 34.3% 92.4%
1998 30.6% 67.3% 39.7% 135.2%
1997 32.9% 88.4% - 51.5%
1996 44% 113.8% - 51.9%
1995 45.4% 72% - 53.7%
1994 - - - 63.5%
1993 - - - 92.4%
1992 - - - 116%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1997–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1992–1997, retrieved 2026-07-08).

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

In 2025, Bulgaria's government spending was $50.8B, accounting for 38.9% of its GDP, while Russia spent $1T, or 39.1% of GDP.

Debt-to-GDP ratio is 27.1% in Bulgaria and 17.2% in Russia, ranking 164/185 and 175/185, respectively.

Government deficit by year

Deficit/surplus
Bulgaria

Russia
1x
Year Deficit/surplus, % of GDP
Bulgaria Russia
2025 -3.01% -3.9%
2024 -3.01% -1.59%
2023 -3.04% -2.24%
2022 -0.8% -1.34%
2021 -2.8% 0.78%
2020 -2.92% -3.99%
2019 -0.96% 1.93%
2018 0.12% 2.92%
2017 0.82% -1.47%
2016 1.54% -3.67%
2015 -2.77% -3.39%
2014 -3.65% -1.07%
2013 -1.75% -1.16%
2012 -0.43% 0.38%
2011 -1.83% 1.43%
2010 -3.77% -3.19%
2009 -0.86% -5.89%
2008 2.73% 4.55%
2007 3.09% 5.59%
2006 3.22% 7.8%
2005 2.19% 7.6%
2004 1.59% 4.57%
2003 0.003% 1.35%
2002 -0.61% 0.67%
2001 -0.58% 2.99%
2000 -0.6% 3.11%
1999 0.15% -3.59%
1998 1.08% -7.42%
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% 0.15%
1939 0.72% 0.12%
1938 1% 0.16%
1937 1.41% 0.12%
1936 1.17% 0.1%
1935 1.34% 0.07%
1934 -0.12% 0.25%
1933 -0.56% 0.58%
1932 -2.14% 0.06%
1931 -3.07% -1.12%
1930 -5.48% -1.62%
1929 -6.67% -0.4%
1928 -1.09% -0.4%
1927 -0.02% -
1926 -0.25% -
1925 -0.97% -
1924 1.26% -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 - -
1912 - 0.69%
1911 - 1.26%
1910 - 1.52%
1909 - -0.15%
1908 - -0.83%
1907 - -0.86%
1906 - -3.19%
1905 - -7.72%
1904 - -5.13%
1903 - 1.04%
1902 - -1.57%
1901 - 0.14%
1900 - -0.36%
1899 - 0.66%
1898 - 0.03%
1897 - 0.34%
1896 - 1.3%
1895 - 0.7%
1894 - 1.43%
1893 - 0.63%
1892 - -1.16%
1891 - -0.97%
1890 - 0.01%
1889 - 1.34%
1888 - 0.88%
1887 - 0.14%
1886 - -0.84%
1885 - -0.75%

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1885–1997, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1998–2025, retrieved 2026-07-08).

GeoRank.org/economy/bulgaria/russia | 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 Russia's deficit of $100B, or 3.9% of GDP.

Over the past 28 years, Bulgaria recorded a fiscal deficit in 17 of those years, while Russia ran a deficit in 14 years. On average, Bulgaria posted an annual deficit equal to 0.6% of GDP, compared to surplus of 0.06% of GDP for Russia.

Inflation comparison by year

Inflation
Bulgaria

Russia
1x
Year Consumer prices inflation
Bulgaria Russia
2025 3.5% 8.7%
2024 2.6% 8.4%
2023 8.6% 5.9%
2022 13% 13.7%
2021 2.8% 6.7%
2020 1.2% 3.4%
2019 2.5% 4.5%
2018 2.6% 2.9%
2017 1.2% 3.7%
2016 -1.3% 7%
2015 -1.1% 15.5%
2014 -1.6% 7.8%
2013 0.4% 6.8%
2012 2.4% 5.1%
2011 3.4% 8.4%
2010 3% 6.8%
2009 2.5% 11.6%
2008 12% 14.1%
2007 7.6% 9%
2006 7.4% 9.7%
2005 6% 12.7%
2004 6.1% 10.9%
2003 2.3% 13.7%
2002 5.8% 15.8%
2001 7.4% 21.5%
2000 10.3% 20.8%
1999 2.6% 85.7%
1998 18.7% 27.7%
1997 1,061% 14.8%

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

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

Over the past 29 years, Bulgaria has recorded an average annual inflation rate of 41.1%, compared with 13.2% in Russia. In 2025, inflation was 3.5% in Bulgaria and 8.7% in Russia.

Top exports between countries

Bulgaria
Export category Export value
Transport & tourism services $396M
Chemicals & pharma $305M
Processed food, beverages & tobacco $70.3M
Machinery & equipment $60.7M
Textiles & consumer goods $23.1M
Raw materials & minerals $8.58M
Animal & marine products $4.28M
Business & finance services $3.79M
Metals $2.95M
IT & IP services $2.38M
Russia
Export category Export value
Miscellaneous $1.22B
Raw materials & minerals $1.11B
Machinery & equipment $137M
Business & finance services $115M
Metals $114M
Transport & tourism services $70.4M
Manufacturing & construction services $42.6M
Chemicals & pharma $30M
IT & IP services $24.8M
Wood & paper products $22.7M

Balance of trade

Bulgaria Russia
Current account balance
-$7.64B
2025
$43.1B
2025
Current account balance ranking
170/190
2025
14/190
2025
Current account balance, % of GDP
-5.84%
2025
+1.68%
2025
Goods imports
$58.5B
2025
$305B
2025
Goods exports
$47.9B
2025
$422B
2025
Service imports
$9.42B
2025
$94.8B
2025
Service exports
$18.6B
2025
$46.3B
2025
Imports of goods and services, % of GDP
51.8%
2025
15.5%
2025
Exports of goods and services, % of GDP
50.7%
2025
18.2%
2025

Economic freedom indices

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

Bulgaria Russia
Economic freedom 68.9 50.3
Economic freedom ranking 44/197 161/197
Property rights 75.8 18.6
Government integrity 48.4 22.8
Judicial effectiveness 58.5 22.8
Tax burden 89.1 81.9
Government spending 58.4 61.3
Fiscal health 90.4 94.4
Business freedom 78.2 51.4
Labor freedom 62.4 59.1
Monetary freedom 75.8 61.8
Trade freedom 79.4 69.4
Investment freedom 60 30
Financial freedom 50 30

Economic freedom comparison by year

Bulgaria
Russia
1x
Year Economic freedom index
Bulgaria Russia
2026 68.9 50.3
2025 68.8 51.6
2024 68.5 52
2023 69.3 53.8
2022 71 56.1
2021 70.4 61.5
2020 70.2 61
2019 69 58.9
2018 68.3 58.2
2017 67.9 57.1
2016 65.9 50.6
2015 66.8 52.1
2014 65.7 51.9
2013 65 51.1
2012 64.7 50.5
2011 64.9 50.5
2010 62.3 50.3
2009 64.6 50.8
2008 63.7 49.8
2007 62.7 52.2
2006 64.1 52.4
2005 62.3 51.3
2004 59.2 52.8
2003 57 50.8
2002 57.1 48.7
2001 51.9 49.8
2000 47.3 51.8
1999 46.2 54.5
1998 45.7 52.8
1997 47.6 48.6
1996 48.6 51.6
1995 50 51.1

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

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

The Economic Freedom Index for Bulgaria is 68.9, ranking 44/197, compared to 50.3 for Russia, ranking 161/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bulgaria Russia
Services, % of GDP
63.3%
2025
58.9%
2025
Industry, % of GDP
21.2%
2025
29.7%
2025
Agriculture, forestry, and fishing, % of GDP
2.47%
2025
3.06%
2025
GNI, Atlas method
$114B
2025
$2.33T
2025
GNI per capita, PPP
$42,170
2025
$49,220
2025
Total reserves including gold
$47.1B
2025
$608B
2024
Total reserves ranking
51/177
2025
6/177
2024
Net foreign direct investment
-$3.37B
2025
-$12.4B
2025
Net inflows of foreign direct investment
$3.05B
2024
-$9.35B
2024
Net outflows of foreign direct investment
$1.21B
2024
-$170M
2024
Servicing debt to the IMF, % of GNI
6.8%
2024
2.63%
2024
Poverty at national poverty lines
21.7%
2023
7.2%
2024
Gross capital formation, % of GDP
21.7%
2025
25.9%
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/russia | 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 (1980–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1997–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1885–1997, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2021–2025, 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.