Bulgaria Bulgaria vs Finland Finland development indicators, 2024

Indicator
Bulgaria
Bulgaria, Value
Finland
Finland, Value
Bulgaria
Bulgaria, Rank
Finland
Finland, Rank
Bulgaria Bulgaria as % of
Finland Finland
Current account balance (% of GDP) -1.79 0.31 71 50
Exports of goods and services (% of GDP) 55.8 41.6 33 59 134 %
Foreign direct investment, net inflows (% of GDP) 3.12 0.661 40 81 472 %
GDP per capita (current US$) 17,412 53,189 62 21 32.7 %
GDP per capita, PPP (current international US$) 41,086 64,091 56 27 64.1 %
Imports of goods and services (% of GDP) 53.5 40.9 49 70 131 %
Inflation, consumer prices (annual %) 2.45 1.57 97 125 156 %
Net migration 524 26,894 74 32 1.95 %
Population, total 6,444,366 5,637,214 110 116 114 %

Demography and Health

Bulgaria has a higher crude birth rate of 8.9 per 1,000 people compared to Finland's 7.8, indicating a slightly more youthful population growth. However, it also faces a significantly higher crude death rate at 15.7 per 1,000 compared to Finland's 11, placing Bulgaria in a precarious demographic situation. Life expectancy is markedly lower in Bulgaria at 75.7 years versus Finland's 81.7 years, reflecting disparities in healthcare quality and public health policies. Furthermore, the under-5 mortality rate is considerably higher in Bulgaria at 6.1 per 1,000 live births as opposed to Finland's 2.3, indicating more significant challenges in child healthcare and maternal health. The prevalence of undernourishment is equal in both countries at 2.5%, showing a relative strength in food security.

Economy

The economic indicators illustrate a stark contrast between the two nations. Bulgaria's GDP per capita stands at $17,412, significantly lower than Finland's $53,189. Likewise, when adjusting for purchasing power parity, Bulgaria's GDP per capita is $41,086 compared to Finland's $64,091. Exports of goods and services account for a substantial 55.8% of Bulgaria's GDP, reflecting a robust export-oriented economy, while Finland's is more moderate at 41.6%. However, inflation rates are higher in Bulgaria at 2.4%, versus Finland's 1.6%, which may affect consumer purchasing power. Bulgaria’s total unemployment rate is recorded at 4.3%, comparatively lower than Finland's 7.2%, thus indicating a more favorable labor market in Bulgaria.

Trade and Investment

Bulgaria has a substantially higher percentage of exports and imports relative to its GDP (55.8% and 53.5%, respectively) compared to Finland (41.6% and 40.9%). Foreign direct investment net inflows as a percentage of GDP are more favorable in Bulgaria at 3.1% compared to Finland's 0.7%, showcasing Bulgaria's ability to attract foreign capital. Nevertheless, Finland exhibits better performance in high-technology exports, with Finland exporting $5.3 billion compared to Bulgaria's $3.2 billion, indicating a stronger technological base in the Finnish economy.

Governance and Institutions

In terms of governance, Finland consistently outperforms Bulgaria across various indicators. Finland's control of corruption indicator stands at 2.2, in stark contrast to Bulgaria's -0.1, reflecting higher integrity and transparency in Finnish governance. Similarly, Finland ranks higher in government effectiveness (1.7 vs 0) and regulatory quality (1.8 vs 0.4), indicating efficient public services and regulations. Additionally, the rule of law is robust in Finland (2.0) compared to Bulgaria, which reports a score of -0. This signifies Finland's stronger institutional framework and a more reliable judiciary. Bulgaria struggles with political stability, scoring 0.3 compared to Finland's 0.7, highlighting concerns regarding governance and civil security.

Infrastructure and Technology

Finland's logistical performance index, which evaluates the quality of transport-related infrastructure, stands at an impressive 4.2, while Bulgaria's ranks lower at 3.1, pointing to better infrastructure maintenance and efficiency in Finland. Furthermore, internet connectivity is substantially higher in Finland, with 93.5% of the population using the internet compared to Bulgaria's 80.4%. This digital gap suggests Finland’s superior technological adoption and infrastructure investment, which is vital for economic growth and development.

Environment and Sustainability

In terms of sustainability, Finland excels with renewable energy consumption comprising 50.2% of its total final energy consumption, whereas Bulgaria lags behind at 20.4%. This result reflects Finland's commitment to environmentally sustainable practices and green technologies. Finland's carbon emissions (7.8 tonnes CO2e/capita) are marginally lower than Bulgaria's (8.3 tonnes), although both countries are actively working towards reducing their carbon footprints. Water stress levels also illustrate differences, with Bulgaria at 37.5% indicating significant resource management challenges, compared to Finland's favorable 7.1%, showcasing efficient water resource management in Finnish policy.