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Economy of Bulgaria vs Taiwan compared: GDP & Debt

Updated on by Georank team

Bulgaria has a GDP of $113B compared to $802B for Taiwan, ranking 67/197 and 22/197 by economy size, respectively.

Bulgaria has $27.3B in government debt (24.1% of GDP), compared to $211B (26.3% of GDP) in Taiwan.

Bulgaria vs Taiwan GDP by year

Bulgaria
Taiwan
1x
Year GDP, current $
Bulgaria Taiwan
2024 $113,343,355,780 $801,529,000,000
2023 $102,199,231,385 $757,328,000,000
2022 $90,506,153,294 $765,529,000,000
2021 $84,374,613,233 $777,062,000,000
2020 $70,486,877,546 $676,935,000,000
2019 $68,507,731,354 $613,453,000,000
2018 $66,097,226,262 $610,744,000,000
2017 $59,167,647,388 $591,734,000,000
2016 $53,929,397,039 $543,002,000,000
2015 $50,765,918,159 $534,474,000,000
2014 $57,080,897,012 $535,332,000,000
2013 $55,819,262,375 $512,957,000,000
2012 $54,297,052,002 $495,536,000,000
2011 $57,681,293,007 $483,957,000,000
2010 $50,689,051,382 $444,245,000,000
2009 $52,023,801,230 $390,788,000,000
2008 $54,480,684,188 $415,824,000,000
2007 $44,431,257,129 $406,940,000,000
2006 $34,380,536,496 $386,492,000,000
2005 $29,868,657,858 $374,042,000,000
2004 $26,157,743,369 $346,881,000,000
2003 $21,144,957,990 $317,374,000,000
2002 $16,403,043,850 $307,429,000,000
2001 $14,183,446,026 $299,303,000,000
2000 $13,245,990,274 $330,725,000,000
1999 $13,637,098,579 $303,827,000,000
1998 $15,031,055,047 $279,926,000,000
1997 $11,316,127,379 $303,315,000,000
1996 $12,294,964,838 $292,473,000,000
1995 $18,991,484,420 $279,013,000,000
1994 $9,709,240,034 $256,213,000,000
1993 $10,832,064,942 $234,943,000,000
1992 $8,602,887,623 $222,947,000,000
1991 $7,628,738,475 $187,100,000,000
1990 $20,632,090,909 $166,392,000,000
1989 $21,988,444,444 $152,687,000,000
1988 $22,555,941,176 $126,378,000,000
1987 $28,101,000,000 $104,956,000,000
1986 $20,249,294,118 $78,347,000,000
1985 $17,155,421,053 $63,599,000,000
1984 $17,594,944,444 $61,036,000,000
1983 $16,563,666,667 $54,155,000,000
1982 $19,342,000,000 $49,540,000,000
1981 $19,870,000,000 $49,047,000,000
1980 $19,839,230,769 $42,292,000,000
1979 - $33,875,000,000
1978 - $27,373,000,000
1977 - $22,252,000,000
1976 - $18,988,000,000
1975 - $15,836,000,000
1974 - $14,739,000,000
1973 - $10,940,000,000
1972 - $8,063,000,000
1971 - $6,727,000,000
1970 - $5,785,000,000
1969 - $5,017,000,000
1968 - $4,325,000,000
1967 - $3,709,000,000
1966 - $3,207,000,000
1965 - $2,869,000,000
1964 - $2,592,000,000
1963 - $2,218,000,000
1962 - $1,960,000,000
1961 - $1,778,000,000
1960 - $1,743,000,000
1959 - $1,444,000,000
1958 - $1,836,000,000
1957 - $1,636,000,000
1956 - $1,399,000,000
1955 - $1,940,000,000
1954 - $1,628,000,000
1953 - $1,481,000,000
1952 - $1,677,000,000
1951 - $1,197,000,000

Data sources: National Statistics, Taiwan (1951–2024, retrieved 2026-02-09); World Bank | Economy & Growth (1980–2024, retrieved 2026-04-06).

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

GDP per capita in Bulgaria vs Taiwan by year

Bulgaria
GDP per capita

GDP per capita, PPP
Taiwan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bulgaria Taiwan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $17,596 $41,969 $34,238 -
2023 $15,853 $38,829 $32,444 -
2022 $13,999 $36,320 $32,827 -
2021 $12,966 $30,959 $33,111 -
2020 $10,760 $27,352 $28,705 -
2019 $10,354 $26,766 $25,998 -
2018 $9,849 $23,998 $25,901 -
2017 $8,697 $22,317 $25,121 $50,500
2016 $7,822 $20,746 $23,091 -
2015 $7,269 $18,896 $22,780 $46,800
2014 $8,070 $17,991 $22,874 -
2013 $7,796 $16,894 $21,973 $39,600
2012 $7,432 $16,327 $21,295 $39,400
2011 $7,850 $15,747 $20,866 $38,200
2010 $6,854 $14,954 $19,197 $35,700
2009 $6,988 $14,188 $16,933 $32,000
2008 $7,271 $14,347 $18,081 $31,100
2007 $5,889 $12,822 $17,757 $30,100
2006 $4,523 $11,406 $16,934 $29,500
2005 $3,900 $10,291 $16,456 $27,500
2004 $3,390 $9,200 $15,317 $25,300
2003 $2,719 $8,416 $14,066 $23,400
2002 $2,093 $7,786 $13,686 $18,000
2001 $1,771 $6,960 $13,397 $17,200
2000 $1,621 $6,424 $14,908 $17,400
1999 $1,661 $5,808 $13,804 $16,100
1998 $1,820 $6,178 $12,820 -
1997 $1,361 $5,751 $14,020 -
1996 $1,470 $6,849 $13,641 -
1995 $2,259 $7,743 $13,119 -
1994 $1,150 $7,338 $12,150 -
1993 $1,279 $7,032 $11,242 -
1992 $1,007 $6,917 $10,768 -
1991 $884 $7,215 $9,125 -
1990 $2,367 $7,548 $8,205 -
1989 $2,477 - $7,613 -
1988 $2,511 - $6,370 -
1987 $3,132 - $5,350 -
1986 $2,260 - $4,036 -
1985 $1,915 - $3,314 -
1984 $1,964 - $3,224 -
1983 $1,853 - $2,903 -
1982 $2,169 - $2,699 -
1981 $2,235 - $2,720 -
1980 $2,239 - $2,389 -
1979 - - $1,950 -
1978 - - $1,606 -
1977 - - $1,330 -
1976 - - $1,158 -
1975 - - $985 -
1974 - - $934 -
1973 - - $706 -
1972 - - $530 -
1971 - - $451 -
1970 - - $397 -
1969 - - $357 -
1968 - - $319 -
1967 - - $280.8 -
1966 - - $249.1 -
1965 - - $229.3 -
1964 - - $213.6 -
1963 - - $188.6 -
1962 - - $172 -
1961 - - $161.2 -
1960 - - $163.4 -
1959 - - $140.4 -
1958 - - $185.1 -
1957 - - $170.5 -
1956 - - $150.6 -
1955 - - $216.3 -
1954 - - $188.3 -
1953 - - $177.7 -
1952 - - $208.4 -
1951 - - $154.3 -

Data sources: National Statistics, Taiwan (1951–2024, retrieved 2026-02-09); World Bank | Economy & Growth (1980–2024, retrieved 2026-04-06); Central Intelligence Agency (CIA) (1999–2017, retrieved 2026-02-20).

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

Bulgaria's GDP per capita is $17,596, ranking 64/197, compared to $34,238 in Taiwan, ranking 35/197. Adjusted for purchasing power (GDP per capita PPP), Bulgaria ranks 54th at $41,969, while Taiwan ranks 44th at $50,500.

Economic indicators

Bulgaria Taiwan
Gross domestic product
$113B
2024
$802B
2024
GDP rank
67/197
2024
22/197
2024
GDP growth
3.39%
2023-2024
2.3%
2023-2024
GDP per capita
$17,596
2024
$34,238
2024
GDP per capita rank
64/197
2024
35/197
2024
GDP per capita, PPP
$41,969
2024
$50,500
2017
GDP per capita PPP rank
54/197
2024
44/197
2017
Government debt
$27.3B
2024
$211B
2024
Debt-to-GDP ratio
24.1%
2024
26.3%
2024
Government debt per person
$4,237
2024
$9,020
2024
Government debt per person rank
90/185
2024
59/185
2024
Average annual personal income after taxes
$14,263
2026
$18,163
2026
Market capitalization of domestic companies
$8.41B
2024
n/a
Number of millionaires n/a
759,000
2025
Number of billionaires
2
2025
54
2025
Income share by richest 10%
31.1%
2023
n/a
Income share by poorest 10%
2.1%
2023
n/a
Government expenditure, % of GDP
36.7%
2024
15.8%
2024
Consumer prices inflation
2.6%
2023-2024
2.2%
2023-2024
Central bank interest rate
1.81%
2025
2%
2024
Unemployment rate
4.17%
2024
3.35%
2025
Population
6359449
23229461

Spending and national debt comparison by year

Bulgaria
Spending

Debt
Taiwan
Spending

Debt
1x
Year % of GDP
Bulgaria Taiwan
Government spending Government debt Government spending Government debt
2024 36.7% 24.1% 15.8% 26.3%
2023 37.4% 22.9% 17.1% 29%
2022 37.6% 22.5% 16% 29.5%
2021 38.4% 23.8% 15.4% 30.1%
2020 37.6% 22.7% 16.2% 32%
2019 36% 18.4% 15.3% 32.6%
2018 34.4% 20.1% 15.4% 33.8%
2017 32% 22.9% 15.4% 34.5%
2016 32.7% 27% 15.6% 35.4%
2015 37.3% 25.4% 15.5% 35.9%
2014 37.1% 26.3% - 37.5%
2013 35.5% 17.2% - 38.9%
2012 32.5% 16.5% - 39.2%
2011 32% 14.3% 18.3% 38.3%
2010 34.6% 14.1% - 36.9%
2009 33.8% 14.5% - 36.7%
2008 33.5% 14.7% - 33.4%
2007 33.1% 17.6% - 32.2%
2006 32.5% 22.6% - 33.3%
2005 34% 28.5% - 34.1%
2004 34.6% 37.8% - 33.4%
2003 35.8% 45.4% - 32.1%
2002 35.1% 53.4% - 29.8%
2001 36.5% 67.1% 22.5% 30.1%
2000 37.1% 73.3% - 26.2%
1999 36.2% 78.7% - 23.7%
1998 30.6% 67.3% - 23.7%
1997 32.9% 88.4% - 25%
1996 44% 113.8% - -
1995 45.4% 72% - -
1994 - - - -
1993 - - - -
1992 - - - -
1991 - - 25.4% -
1990 - - - -
1989 - - - -
1988 - - - -
1987 - - - -
1986 - - - -
1985 - - - -
1984 - - - -
1983 - - - -
1982 - - - -
1981 - - 23.6% -
1980 - - - -
1979 - - - -
1978 - - - -
1977 - - - -
1976 - - 21.4% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1997–2024, retrieved 2026-02-20); National Statistics, Taiwan (1976–2024, retrieved 2026-02-09); International Monetary Fund (IMF) | Public Finances in Modern History (1995–1997, retrieved 2026-02-20).

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

In 2024, Bulgaria's government spending was $41.5B, accounting for 36.7% of its GDP, while Taiwan spent $127B, or 15.8% of GDP.

Debt-to-GDP ratio is 24.1% in Bulgaria and 26.3% in Taiwan, ranking 169/185 and 160/185, respectively.

Government deficit by year

Deficit/surplus
Bulgaria

Taiwan
1x
Year Deficit/surplus, % of GDP
Bulgaria Taiwan
2024 -3.04% 0.43%
2023 -3.03% -0.61%
2022 -0.8% 0.17%
2021 -2.8% -0.18%
2020 -2.92% -1.03%
2019 -0.96% 0.11%
2018 0.12% 0.02%
2017 0.82% -0.14%
2016 1.54% -0.31%
2015 -2.77% 0.1%
2014 -3.65% -
2013 -1.75% -
2012 -0.43% -
2011 -1.83% -2.15%
2010 -3.77% -
2009 -0.86% -
2008 2.73% -
2007 3.09% -
2006 3.22% -
2005 2.19% -
2004 1.59% -
2003 0.003% -
2002 -0.61% -
2001 -0.58% -3.71%
2000 -0.6% -
1999 0.15% -
1998 1.08% -
1997 0.83% -
1996 -10.1% -
1995 -7.98% -
1994 - -
1993 - -
1992 - -
1991 - -4.5%
1990 - -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -0.78%
1980 - -
1979 - -
1978 - -
1977 - -
1976 - 1.39%
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 (1998–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1924–1997, retrieved 2026-02-20); National Statistics, Taiwan (1976–2024, retrieved 2026-02-09).

GeoRank.org/economy/bulgaria/taiwan | 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 Taiwan's surplus of $3.45B, or 0.43% of GDP.

Over the past 30 years, Bulgaria recorded a fiscal deficit in 18 of those years, while Taiwan ran a deficit in 7 years. On average, Bulgaria posted an annual deficit equal to 1.04% of GDP, compared to deficit of 0.61% of GDP for Taiwan.

Inflation comparison by year

Inflation
Bulgaria

Taiwan
1x
Year Consumer prices inflation
Bulgaria Taiwan
2024 2.6% 2.2%
2023 8.6% 2.5%
2022 13% 2.9%
2021 2.8% 2%
2020 1.2% -0.2%
2019 2.5% 0.6%
2018 2.6% 1.4%
2017 1.2% 0.6%
2016 -1.3% 1.4%
2015 -1.1% -0.3%
2014 -1.6% 1.2%
2013 0.4% 0.8%
2012 2.4% 1.9%
2011 3.4% 1.4%
2010 3% 1%
2009 2.5% -0.9%
2008 12% 3.5%
2007 7.6% 1.8%
2006 7.4% 0.6%
2005 6% 2.3%
2004 6.1% 1.6%
2003 2.3% -0.3%
2002 5.8% -0.2%
2001 7.4% 0%
2000 10.3% 1.2%
1999 2.6% 0.2%
1998 18.7% 1.7%
1997 1,061% 0.9%

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

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

Over the past 28 years, Bulgaria has recorded an average annual inflation rate of 42.5%, compared with 1.14% in Taiwan. In 2024, inflation was 2.6% in Bulgaria and 2.2% in Taiwan.

Balance of trade

Bulgaria Taiwan
Current account balance
-$1.74B
2024
$113B
2024
Current account balance ranking
138/190
2024
4/190
2024
Current account balance, % of GDP
-1.54%
2024
+14.1%
2024
Goods imports
$52.8B
2024
n/a
Goods exports
$47.3B
2024
n/a
Service imports
$8.26B
2024
n/a
Service exports
$16.6B
2024
n/a
Imports of goods and services, % of GDP
53.9%
2024
50.2%
2024
Exports of goods and services, % of GDP
56.4%
2024
63.3%
2024

Economic freedom indices

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

Bulgaria Taiwan
Economic freedom 68.9 79.8
Economic freedom ranking 44/197 6/197
Property rights 75.8 83.4
Government integrity 48.4 74.3
Judicial effectiveness 58.5 94.3
Tax burden 89.1 78.9
Government spending 58.4 90
Fiscal health 90.4 92.9
Business freedom 78.2 78.6
Labor freedom 62.4 69
Monetary freedom 75.8 80.3
Trade freedom 79.4 86
Investment freedom 60 70
Financial freedom 50 60

Economic freedom comparison by year

Bulgaria
Taiwan
1x
Year Economic freedom index
Bulgaria Taiwan
2026 68.9 79.8
2025 68.8 79.7
2024 68.5 80
2023 69.3 80.7
2022 71 80.1
2021 70.4 78.6
2020 70.2 77.1
2019 69 77.3
2018 68.3 76.6
2017 67.9 76.5
2016 65.9 74.7
2015 66.8 75.1
2014 65.7 73.9
2013 65 72.7
2012 64.7 71.9
2011 64.9 70.8
2010 62.3 70.4
2009 64.6 69.5
2008 63.7 70.3
2007 62.7 69.4
2006 64.1 69.7
2005 62.3 71.3
2004 59.2 69.6
2003 57 71.7
2002 57.1 71.3
2001 51.9 72.8
2000 47.3 72.5
1999 46.2 71.5
1998 45.7 70.4
1997 47.6 70
1996 48.6 74.1
1995 50 74.2

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

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

The Economic Freedom Index for Bulgaria is 68.9, ranking 44/197, compared to 79.8 for Taiwan, ranking 6/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bulgaria Taiwan
Services, % of GDP
63.8%
2024
58.8%
2024
Industry, % of GDP
21.1%
2024
39.8%
2024
Agriculture, forestry, and fishing, % of GDP
2.35%
2024
1.47%
2024
GNI, Atlas method
$99B
2024
$832B
2024
GNI per capita, PPP
$39,850
2024
n/a
Total reserves including gold
$43.7B
2024
n/a
Total reserves ranking
47/177
2024
n/a
Net foreign direct investment
-$2.22B
2024
n/a
Net inflows of foreign direct investment
$3.55B
2024
n/a
Net outflows of foreign direct investment
$1.13B
2024
n/a
Servicing debt to the IMF, % of GNI
6.8%
2024
n/a
Poverty at national poverty lines
21.7%
2023
1.5%
2020
Gross capital formation, % of GDP
20.4%
2024
26.7%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); National Statistics, Taiwan (1985–2024, retrieved 2026-02-09); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1980–2024, retrieved 2026-04-06)
  2. National Statistics, Taiwan (1951–2025, retrieved 2026-02-09)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1997–2024, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1924–1997, retrieved 2026-02-20)
  6. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  7. Central Intelligence Agency (CIA) (1999–2020, retrieved 2026-02-20)
  8. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  9. LivingCost (2026, retrieved 2025-10-14)

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.