Bulgaria Bulgaria vs Greece Greece development indicators, 2024

Indicator
Bulgaria
Bulgaria, Value
Greece
Greece, Value
Bulgaria
Bulgaria, Rank
Greece
Greece, Rank
Bulgaria Bulgaria as % of
Greece Greece
Current account balance (% of GDP) -1.79 -6.38 71 95 28.1 %
Exports of goods and services (% of GDP) 55.8 42 33 54 133 %
Foreign direct investment, net inflows (% of GDP) 3.12 2.51 40 47 124 %
GDP per capita (current US$) 17,412 24,752 62 49 70.3 %
GDP per capita, PPP (current international US$) 41,086 44,074 56 50 93.2 %
Imports of goods and services (% of GDP) 53.5 47.3 49 59 113 %
Inflation, consumer prices (annual %) 2.45 2.74 97 93 89.2 %
Net migration 524 -122,772 74 202
Population, total 6,444,366 10,388,805 110 93 62 %

Demography and Health

In terms of demographic indicators, Bulgaria has a crude birth rate of 8.9 per 1,000 people compared to Greece's 6.8, ranking 45th globally against Greece's 77th. However, Bulgaria's crude death rate is higher at 15.7 per 1,000 compared to Greece's 12.2, placing Bulgaria in a more critical 9th position versus Greece's 29th. Life expectancy at birth in Bulgaria is 75.7 years, significantly lower than Greece's 81.5 years, positioning Bulgaria at 69th and Greece at 35th. The infant mortality rate reflects similar discrepancies, with Bulgaria recording 6.1 deaths per 1,000 live births against Greece's 3.7. Overall, Bulgaria displays challenges in health outcomes that could be influenced by its higher death rates and lower life expectancy.

Economy

Bulgaria's economy, represented by GDP per capita, shows a value of $17,412, considerably lower than Greece's $24,752, ranking Bulgaria 103rd compared to Greece's 76th. In terms of GDP per capita (PPP), Bulgaria's $41,086 again falls short of Greece's $44,074. However, Bulgaria has a better performance in exports of goods and services, accounting for 55.8% of GDP versus Greece's 42%. Bulgaria's inflation rate is slightly lower at 2.4% compared to Greece's 2.7%. The net migration figure in Bulgaria stands positive at 524, while Greece has a negative migration of -122,772, indicating more outbound than inbound migration trends. From an employment perspective, Bulgaria boasts a lower unemployment rate of 4.3% compared to Greece's 11%.

Trade and Investment

Bulgaria's foreign direct investment (FDI) net inflows are at 3.1% of GDP, surpassing Greece's 2.5%, placing Bulgaria at 56th globally compared to Greece's 68th. Also, Bulgaria's imports as a percentage of GDP (53.5%) are higher than Greece's 47.3%, which may suggest a more pronounced connection to global trade networks. Furthermore, Bulgaria's current account balance is less negative, at -1.8% compared to Greece's -6.4%. These values indicate Bulgaria may be effectively utilizing its potential as an export-oriented economy while maintaining a robust investment climate.

Governance and Institutions

In governance metrics, Bulgaria faces challenges, with a control of corruption score of -0.1 and government effectiveness score of 0, ranking 79th and 76th, respectively. Greece performs slightly better with scores of 0.1 and 0.1, ranking 70th and 75th. The rule of law in Bulgaria scores -0, comparatively lower than Greece’s 0.2, highlighting governance challenges. Political stability index indicates a score of 0.3 for Bulgaria and 0.2 for Greece, suggesting Bulgaria has a marginally more stable political situation, despite the overall issues present in both countries. The regulatory quality is similarly low with Bulgaria at 0.4 to Greece's 0.6, indicating bureaucratic challenges in both countries.

Infrastructure and Technology

Bulgaria's logistics performance index, which reflects the quality of trade and transport-related infrastructure, sits at 3.1 compared to Greece's 3.7, signaling that Greece may have superior infrastructure. In technology usage, 80.4% of Bulgaria's population uses the internet compared to Greece's 85%, indicating that while both countries have high engagement with digital technology, Greece leads slightly. Furthermore, the level of research and development expenditure as a percentage of GDP is at 0.8% in Bulgaria, significantly lower than Greece's 1.5%, suggesting a potential gap in technological advancement and innovation capabilities.

Environment and Sustainability

On environmental indicators, Bulgaria's renewable energy consumption stands at 20.4%, slightly below Greece’s 21.5%. In terms of greenhouse gas emissions, Bulgaria has per capita emissions of 8.3 t CO2e, higher than Greece’s 6.7 t CO2e, indicating a more significant environmental impact per person in Bulgaria. Additionally, Bulgaria faces a critical level of water stress, using 37.5% of its available freshwater resources, while Greece uses 20.7%. Investments in sustainability and renewable energy are crucial for Bulgaria to mitigate these challenges and improve its environmental footprint.