Bulgaria’s GDP Skyrockets 600% Over 20 Years, Outpacing EU Average

Over the past two decades, the economic growth in Bulgaria has been remarkable. While GDP per capita across the European Union increased by 188% over the last 20 years, Bulgaria experienced a staggering 600% growth. This surge underscores the transformative effect of EU membership on former socialist countries and highlights the significant progress made in Southeast Europe.

The timeline of this transformation begins with one of the EU's largest enlargements 21 years ago, when the Visegrad Four and the Baltic states joined. Bulgaria and Romania followed three years later in 2007. The period from 2004 to 2024 provides a clear window to measure the scale of economic development, and the numbers are striking. Bulgaria’s GDP per capita rose from 2,710 euros in 2004 to 16,260 euros in 2024. Only Romania surpasses Bulgaria in relative growth over this timeframe, with a 658% increase, moving from 2,820 euros to 18,560 euros, according to Eurostat data.

Other Eastern European countries also saw substantial progress. In the Baltic states, Lithuania recorded a 505% increase in GDP per capita, Latvia 436%, and Estonia 405%. Growth measured by purchasing power parity tells a similar story: Bulgaria moved from 35% to 66% of the EU average, while Romania doubled to 78%. Comparable gains were seen in Lithuania (50 to 88), Latvia (45 to 71), Poland (56 to 79), and Estonia (56 to 79), demonstrating that the region’s integration into the EU has produced consistently strong economic results.

The data paints a clear picture: EU membership has catalyzed unprecedented economic growth in Bulgaria, bringing it closer to the living standards of the broader European Union.