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Economy of Bulgaria vs Zambia compared: GDP & Debt

Updated on by Georank

Bulgaria has a GDP of $131B compared to $28.9B for Zambia, ranking 63/197 and 116/197 by economy size, respectively.

Bulgaria has $35.4B in government debt (27.1% of GDP), compared to $24.8B (86% of GDP) in Zambia.

Bulgaria vs Zambia GDP by year

Bulgaria
Zambia
1x
Year GDP, current $
Bulgaria Zambia
2025 $130,777,235,530 $28,879,806,220
2024 $113,349,149,167 $25,303,185,342
2023 $102,204,457,335 $27,577,956,471
2022 $90,510,784,778 $29,163,782,140
2021 $84,378,926,047 $22,096,416,932
2020 $70,490,478,088 $18,137,764,931
2019 $68,511,235,459 $23,308,667,781
2018 $66,100,606,677 $26,311,507,274
2017 $59,170,671,046 $25,873,601,261
2016 $53,932,152,154 $20,958,412,538
2015 $50,768,512,173 $21,251,216,799
2014 $57,083,817,240 $27,141,023,558
2013 $55,822,115,861 $28,037,239,463
2012 $54,299,825,600 $25,503,060,420
2011 $57,684,243,980 $23,459,515,276
2010 $50,691,645,231 $20,265,559,484
2009 $52,026,461,290 $15,328,342,304
2008 $54,483,464,293 $17,910,858,638
2007 $44,433,521,725 $14,056,957,976
2006 $34,382,295,487 $12,756,858,899
2005 $29,870,182,425 $8,331,870,169
2004 $26,159,078,743 $6,221,110,219
2003 $21,146,038,619 $4,901,869,764
2002 $16,403,880,783 $4,193,850,445
2001 $14,184,170,319 $4,094,441,301
2000 $13,246,669,554 $3,600,632,111
1999 $13,637,793,854 $3,404,284,891
1998 $15,031,821,788 $3,537,741,942
1997 $11,316,706,412 $4,303,288,480
1996 $12,295,588,924 $3,597,220,962
1995 $18,992,388,645 $3,806,983,413
1994 $9,709,230,161 $3,656,806,166
1993 $10,832,041,595 $3,273,505,344
1992 $8,602,874,120 $3,182,810,841
1991 $7,628,764,750 $3,376,806,697
1990 $20,726,605,649 $3,288,381,797
1989 $21,746,286,447 $3,994,673,161
1988 $23,003,003,708 $3,728,878,149
1987 $28,428,718,531 $2,265,250,972
1986 $20,261,546,635 $1,664,413,508
1985 $17,562,270,447 $2,252,454,500
1984 $17,410,894,971 $2,719,518,933
1983 $16,959,180,922 $3,321,048,451
1982 $19,803,624,625 $3,871,117,093
1981 $20,055,685,481 $4,008,126,497
1980 $20,039,544,133 $3,884,530,854
1979 - $3,353,445,378
1978 - $2,811,032,473
1977 - $2,515,296,940
1976 - $2,742,859,263
1975 - $2,442,672,141
1974 - $2,910,981,262
1973 - $2,434,255,237
1972 - $1,872,416,680
1971 - $1,653,259,341
1970 - $1,788,779,285
1969 - $1,926,399,230
1968 - $1,573,739,371
1967 - $1,340,639,464
1966 - $1,238,999,505
1965 - $1,061,199,576
1964 - $822,639,671
1963 - $704,339,719
1962 - $679,279,729
1961 - $682,359,727
1960 - $698,739,721

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

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

GDP per capita in Bulgaria vs Zambia by year

Bulgaria
GDP per capita

GDP per capita, PPP
Zambia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bulgaria Zambia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $20,328 - $1,318 -
2024 $17,597 $41,969 $1,187 $4,215
2023 $15,854 $38,829 $1,331 $4,077
2022 $14,000 $36,320 $1,447 $3,841
2021 $12,967 $30,959 $1,127 $3,503
2020 $10,761 $27,352 $952 $3,157
2019 $10,354 $26,766 $1,259 $3,361
2018 $9,850 $23,998 $1,464 $3,442
2017 $8,697 $22,317 $1,483 $3,392
2016 $7,823 $20,746 $1,239 $3,313
2015 $7,269 $18,896 $1,296 $3,337
2014 $8,070 $17,991 $1,707 $3,441
2013 $7,796 $16,894 $1,821 $3,477
2012 $7,432 $16,327 $1,710 $3,324
2011 $7,850 $15,747 $1,625 $3,228
2010 $6,854 $14,954 $1,451 $3,098
2009 $6,989 $14,188 $1,136 $2,872
2008 $7,272 $14,347 $1,376 $2,708
2007 $5,889 $12,822 $1,119 $2,555
2006 $4,523 $11,406 $1,052 $2,378
2005 $3,900 $10,291 $711 $2,213
2004 $3,390 $9,200 $549 $2,068
2003 $2,720 $8,416 $446 $1,942
2002 $2,093 $7,786 $394 $1,837
2001 $1,771 $6,960 $397 $1,785
2000 $1,621 $6,424 $359 $1,709
1999 $1,661 $5,808 $350 $1,654
1998 $1,821 $6,178 $373 $1,601
1997 $1,361 $5,751 $466 $1,631
1996 $1,470 $6,849 $400 $1,585
1995 $2,259 $7,743 $433 $1,501
1994 $1,150 $7,338 $426 $1,464
1993 $1,279 $7,032 $391 $1,607
1992 $1,007 $6,917 $389 $1,505
1991 $884 $7,215 $423 $1,534
1990 $2,377 $7,548 $422 $1,522
1989 $2,450 - $526 -
1988 $2,561 - $504 -
1987 $3,169 - $315 -
1986 $2,262 - $238.2 -
1985 $1,960 - $332 -
1984 $1,943 - $413 -
1983 $1,897 - $520 -
1982 $2,221 - $627 -
1981 $2,256 - $670 -
1980 $2,261 - $669 -
1979 - - $595 -
1978 - - $514 -
1977 - - $474 -
1976 - - $533 -
1975 - - $490 -
1974 - - $601 -
1973 - - $518 -
1972 - - $410 -
1971 - - $372 -
1970 - - $414 -
1969 - - $459 -
1968 - - $387 -
1967 - - $341 -
1966 - - $325 -
1965 - - $287.4 -
1964 - - $230 -
1963 - - $203.2 -
1962 - - $202.3 -
1961 - - $209.7 -
1960 - - $221.6 -

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

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

Bulgaria's GDP per capita is $20,328, ranking 58/197, compared to $1,318 in Zambia, ranking 170/197. Adjusted for purchasing power (GDP per capita PPP), Bulgaria ranks 54th at $41,969, while Zambia ranks 166th at $4,215.

Economic indicators

Bulgaria Zambia
Gross domestic product
$131B
2025
$28.9B
2025
GDP rank
63/197
2025
116/197
2025
GDP growth
3.1%
2024-2025
3.76%
2024-2025
GDP per capita
$20,328
2025
$1,318
2025
GDP per capita rank
58/197
2025
170/197
2025
GDP per capita, PPP
$41,969
2024
$4,215
2024
GDP per capita PPP rank
54/197
2024
166/197
2024
Government debt
$35.4B
2025
$24.8B
2025
Debt-to-GDP ratio
27.1%
2025
86%
2025
Government debt per person
$5,507
2025
$1,133
2025
Government debt per person rank
79/185
2025
140/185
2025
Average annual personal income after taxes
$16,126
2026
$1,538
2026
Market capitalization of domestic companies
$11.2B
2025
$14.9B
2025
Number of billionaires
2
2026
n/a
Income share by richest 10%
31.1%
2023
39.1%
2022
Income share by poorest 10%
2.1%
2023
1.5%
2022
Government expenditure, % of GDP
38.9%
2025
29.7%
2025
Consumer prices inflation
3.5%
2024-2025
13.9%
2024-2025
Central bank interest rate
1.81%
2025
13.3%
2026
Unemployment rate
3.5%
2025
5.67%
2024
Population
6390149
22844606

Spending and national debt comparison by year

Bulgaria
Spending

Debt
Zambia
Spending

Debt
1x
Year % of GDP
Bulgaria Zambia
Government spending Government debt Government spending Government debt
2025 38.9% 27.1% 29.7% 86%
2024 36.3% 23.8% 26.5% 125.2%
2023 37.5% 22.9% 27.4% 129.1%
2022 37.6% 22.5% 28.2% 99.5%
2021 38.5% 23.9% 30.5% 111%
2020 37.7% 22.7% 34% 140%
2019 36.1% 18.4% 29.8% 103.3%
2018 34.4% 20.1% 27.7% 81.2%
2017 32% 22.9% 25% 66.6%
2016 32.7% 27% 23.9% 61.2%
2015 37.3% 25.4% 27.6% 61.9%
2014 37.1% 26.3% 24.3% 33.9%
2013 35.5% 17.2% 24% 25.9%
2012 32.5% 16.5% 21.9% 24.9%
2011 32% 14.3% 19.5% 20.8%
2010 34.6% 14.1% 18.1% 18.9%
2009 33.8% 14.5% 17.8% 20.5%
2008 33.5% 14.7% 19.5% 19.2%
2007 33.1% 17.6% 19.9% 21.9%
2006 32.5% 22.6% 19.7% 25%
2005 34% 28.5% 22.5% 75.7%
2004 34.6% 37.8% 23.3% 129.9%
2003 35.8% 45.4% 27.3% 159.5%
2002 35.1% 53.4% 27.6% 180.2%
2001 36.5% 67.1% 28% 210.2%
2000 37.1% 73.3% 21.4% 261%
1999 36.2% 78.7% - -
1998 30.6% 67.3% - -
1997 32.9% 88.4% - -
1996 44% 113.8% - -
1995 45.4% 72% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1998–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1995–1997, retrieved 2026-07-08).

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

In 2025, Bulgaria's government spending was $50.8B, accounting for 38.9% of its GDP, while Zambia spent $8.58B, or 29.7% of GDP.

Debt-to-GDP ratio is 27.1% in Bulgaria and 86% in Zambia, ranking 164/185 and 35/185, respectively.

Government deficit by year

Deficit/surplus
Bulgaria

Zambia
1x
Year Deficit/surplus, % of GDP
Bulgaria Zambia
2025 -3.01% -3.83%
2024 -3.01% -3.46%
2023 -3.04% -5.48%
2022 -0.8% -7.82%
2021 -2.8% -8.13%
2020 -2.92% -13.8%
2019 -0.96% -9.41%
2018 0.12% -8.31%
2017 0.82% -7.5%
2016 1.54% -5.69%
2015 -2.77% -8.88%
2014 -3.65% -5.43%
2013 -1.75% -6.4%
2012 -0.43% -3.16%
2011 -1.83% -1.78%
2010 -3.77% -2.43%
2009 -0.86% -2.06%
2008 2.73% -0.67%
2007 3.09% -1.04%
2006 3.22% 16.9%
2005 2.19% -2.37%
2004 1.59% -2.51%
2003 0.003% -5.31%
2002 -0.61% -4.5%
2001 -0.58% -5.89%
2000 -0.6% 1.16%
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/zambia | 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 Zambia's deficit of $1.11B, or 3.83% of GDP.

Over the past 26 years, Bulgaria recorded a fiscal deficit in 17 of those years, while Zambia ran a deficit in 24 years. On average, Bulgaria posted an annual deficit equal to 0.7% of GDP, compared to deficit of 4.14% of GDP for Zambia.

Inflation comparison by year

Inflation
Bulgaria

Zambia
1x
Year Consumer prices inflation
Bulgaria Zambia
2025 3.5% 13.9%
2024 2.6% 15%
2023 8.6% 10.9%
2022 13% 11%
2021 2.8% 22%
2020 1.2% 15.7%
2019 2.5% 9.2%
2018 2.6% 7.5%
2017 1.2% 6.6%
2016 -1.3% 17.9%
2015 -1.1% 10.1%
2014 -1.6% 7.8%
2013 0.4% 7%
2012 2.4% 6.6%
2011 3.4% 8.7%
2010 3% 8.5%
2009 2.5% 13.4%
2008 12% 12.4%
2007 7.6% 10.7%
2006 7.4% 9%
2005 6% 18.3%
2004 6.1% 18%
2003 2.3% 21.4%
2002 5.8% 22.2%
2001 7.4% 21.4%
2000 10.3% 24.1%
1999 2.6% 23.9%
1998 18.7% 22.7%
1997 1,061% 21.4%

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

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

Over the past 29 years, Bulgaria has recorded an average annual inflation rate of 41.1%, compared with 14.4% in Zambia. In 2025, inflation was 3.5% in Bulgaria and 13.9% in Zambia.

Top exports between countries

Bulgaria
Export category Export value
Raw materials & minerals $2.34M
Machinery & equipment $244K
Textiles & consumer goods $244K
Chemicals & pharma $139K
Processed food, beverages & tobacco $35K
Metals $20K
Miscellaneous $7K
Zambia
Export category Export value
Processed food, beverages & tobacco $1.22M
Metals $520K
Raw materials & minerals $254K
Wood & paper products $55K
Precious metals & jewellery $32K
Miscellaneous $4K
Textiles & consumer goods $3K

Balance of trade

Bulgaria Zambia
Current account balance
-$7.64B
2025
-$1.12B
2024
Current account balance ranking
170/190
2025
121/190
2024
Current account balance, % of GDP
-5.84%
2025
-4.41%
2024
Goods imports
$58.5B
2025
$10.1B
2024
Goods exports
$47.9B
2025
$11.4B
2024
Service imports
$9.42B
2025
$1.99B
2024
Service exports
$18.6B
2025
$1.38B
2024
Imports of goods and services, % of GDP
51.8%
2025
27.6%
2024
Exports of goods and services, % of GDP
50.7%
2025
35%
2024

Economic freedom indices

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

Bulgaria Zambia
Economic freedom 68.9 51.9
Economic freedom ranking 44/197 152/197
Property rights 75.8 43.9
Government integrity 48.4 39.3
Judicial effectiveness 58.5 45
Tax burden 89.1 74.3
Government spending 58.4 78.1
Fiscal health 90.4 30.9
Business freedom 78.2 53.4
Labor freedom 62.4 48.8
Monetary freedom 75.8 66.6
Trade freedom 79.4 62.8
Investment freedom 60 40
Financial freedom 50 40

Economic freedom comparison by year

Bulgaria
Zambia
1x
Year Economic freedom index
Bulgaria Zambia
2026 68.9 51.9
2025 68.8 50.9
2024 68.5 48.4
2023 69.3 47.8
2022 71 48.7
2021 70.4 50.4
2020 70.2 53.5
2019 69 53.6
2018 68.3 54.3
2017 67.9 55.8
2016 65.9 58.8
2015 66.8 58.7
2014 65.7 60.4
2013 65 58.7
2012 64.7 58.3
2011 64.9 59.7
2010 62.3 58
2009 64.6 56.6
2008 63.7 56.2
2007 62.7 56.2
2006 64.1 56.8
2005 62.3 55
2004 59.2 54.9
2003 57 55.3
2002 57.1 59.6
2001 51.9 59.5
2000 47.3 62.8
1999 46.2 64.2
1998 45.7 62.7
1997 47.6 62.1
1996 48.6 59.6
1995 50 55.1

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

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

The Economic Freedom Index for Bulgaria is 68.9, ranking 44/197, compared to 51.9 for Zambia, ranking 152/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bulgaria Zambia
Services, % of GDP
63.3%
2025
57%
2025
Industry, % of GDP
21.2%
2025
35.3%
2025
Agriculture, forestry, and fishing, % of GDP
2.47%
2025
4.11%
2025
GNI, Atlas method
$114B
2025
$26.2B
2025
GNI per capita, PPP
$42,170
2025
$3,990
2025
Total reserves including gold
$47.1B
2025
$4.09B
2024
Total reserves ranking
51/177
2025
111/177
2024
Net foreign direct investment
-$3.37B
2025
-$2.05B
2024
Net inflows of foreign direct investment
$3.05B
2024
$2.36B
2024
Net outflows of foreign direct investment
$1.21B
2024
$311M
2024
Servicing debt to the IMF, % of GNI
6.8%
2024
17.3%
2024
Poverty at national poverty lines
21.7%
2023
60%
2022
Gross capital formation, % of GDP
21.7%
2025
23.8%
2024

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/zambia | 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 (1998–2025, 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 (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.