Belgium Belgium vs Bulgaria Bulgaria development indicators, 2024

Indicator
Belgium
Belgium, Value
Bulgaria
Bulgaria, Value
Belgium
Belgium, Rank
Bulgaria
Bulgaria, Rank
Belgium Belgium as % of
Bulgaria Bulgaria
Current account balance (% of GDP) -0.855 -1.79 61 71 47.6 %
Exports of goods and services (% of GDP) 79.2 55.8 13 33 142 %
Foreign direct investment, net inflows (% of GDP) -5.35 3.12 104 40
GDP per capita (current US$) 55,955 17,412 16 62 321 %
GDP per capita, PPP (current international US$) 72,126 41,086 19 56 176 %
Imports of goods and services (% of GDP) 79.2 53.5 12 49 148 %
Inflation, consumer prices (annual %) 3.14 2.45 76 97 128 %
Net migration 36,243 524 30 74 6,917 %
Population, total 11,876,844 6,444,366 81 110 184 %

Demography and Health

Belgium's demography illustrates a stable population with a crude birth rate of 9.4 per 1,000 people and a comparable death rate of 9.4, which contrasts sharply with Bulgaria's higher crude death rate of 15.7 and lower birth rate at 8.9. In terms of life expectancy, Belgians can expect to live until 82.4 years, while Bulgarians have a life expectancy of 75.7 years. Furthermore, Belgium performs better in child health indicators, with a mortality rate for under-5s at 3.6 per 1,000 live births compared to Bulgaria's 6.1. Belgium also exhibits lower poverty headcount ratios at 12.3% versus Bulgaria's 20.6%. Despite these positive demographics, Bulgaria presents the same prevalence of undernourishment at 2.5%.

Economy

In terms of economic prosperity, Belgium has a substantially higher GDP per capita, standing at $55,955, compared to Bulgaria's $17,412. The purchasing power parity (PPP) GDP per capita also reflects Belgium's economic strength at $72,126 against Bulgaria's $41,086. Belgium's economy is more export-oriented, with exports accounting for 79.2% of GDP versus Bulgaria's 55.8%. Furthermore, Belgium has a higher current health expenditure (% of GDP) at 10.8%, indicating greater investment in healthcare services relative to Bulgaria's 7.7%. The inflation rate is slightly higher in Belgium (3.1%) compared to Bulgaria (2.4%). Additionally, Belgium shows a negative net foreign direct investment, indicating capital outflows (-5.4%), whereas Bulgaria enjoys positive inflows at 3.1% of GDP.

Trade and Investment

Belgium and Bulgaria differ significantly in their trade and investment profiles. Belgium's high-technology exports total approximately $50.6 billion, reflecting a robust industrial base. In contrast, Bulgaria's high-tech exports stand at a modest $3.2 billion. Belgium also exhibits a strong reliance on trade with both exports and imports of goods and services constituting 79.2% of GDP, while Bulgaria's figures are lower at 55.8% for exports and 53.5% for imports. In terms of foreign direct investment, Belgium's ongoing negative trend contrasts with Bulgaria's growing influx, reflecting different investment climates and confidence levels.

Governance and Institutions

Belgium typically enjoys a stronger governance framework compared to Bulgaria, with better rankings in multiple indicators. For instance, Belgium's score in Control of Corruption stands at 1.3, significantly ahead of Bulgaria's -0.1. Additionally, Belgium's Government Effectiveness score is 1.0, versus Bulgaria's 0. The Rule of Law indicator also highlights this disparity, with Belgium at 1.3 compared to Bulgaria's neutral score. Political Stability, while similar, shows Belgium at 0.4 and Bulgaria slightly lower at 0.3. Nonetheless, both nations have challenges with governance, as indicated by their respective ranks.

Infrastructure and Technology

Belgium surpasses Bulgaria in technology adoption and infrastructure quality, evidenced by the high proportion of individuals using the internet — 94.6% in Belgium compared to 80.4% in Bulgaria. The Logistics Performance Index further reveals a superior infrastructure quality in Belgium, rated at 4.1, while Bulgaria lags behind at 3.1. Furthermore, Belgium's investment in research and development, at 3.4% of GDP, dwarfs Bulgaria's mere 0.8%. This investment environment translates into more innovation and technological advancements in Belgian industries, consolidating its competitive edge versus Bulgaria.

Environment and Sustainability

When evaluating environmental sustainability, Bulgaria's processes for renewable energy consumption appear more progressive, with 20.4% of total final energy consumption derived from renewable sources compared to Belgium's 11.7%. However, in terms of environmental management, Belgium has a higher water stress index, withdrawing 51.9% of freshwater resources, against Bulgaria's 37.5%. Additionally, Belgium's per capita greenhouse gas emissions are slightly higher at 9 tons of CO2 equivalent, while Bulgaria’s is at 8.3 tons. Overall, both countries demonstrate a commitment to addressing environmental challenges, but Bulgaria currently shows a stronger commitment to sustainable energy practices.