Bulgaria: Total reserves (% of total external debt)

Key figures

What the numbers say

In 2022, Bulgaria's total reserves (% of total external debt) fell 0.36 percentage points on 2021 (from 87.19% to 86.83%).

Across the 30 yearly changes before that (1992 to 2021), the average change was +2.72 percentage points and a typical year strayed about 5.73 percentage points from that (the standard deviation). This year's change was 0.5 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 14.06 percentage points in 1997 and the biggest yearly fall was 9.19 percentage points in 2005. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2013 to 2022 the straight-line trend is upward, about 5.43 percentage points a year. A straight line explains 94% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

A straight-line projection, tested first

Extending that straight line gives about 105.24% for 2025. We show this only because the same method, fitted on earlier years, predicted 2020 to 2022 better than "no change" would have: its average miss was 3.53%, against 16.04% for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.

See how a linear trend forecast works and the guide on forecasting without fooling yourself.

How it compares

See how every economy compares in the full ranking.

Closest to Bulgaria in the 2022 ranking

• Russian Federation — 1st of 3: 154.66%
• Yemen, Rep. — 3rd of 3: 17.02%

What this measures

Reserve assets are external assets, including monetary gold, that are readily available to and controlled by monetary authorities for meeting balance of payments financing needs, for intervention in exchange markets to affect the currency exchange rate, and for other related purposes (such as maintaining confidence in the currency and the economy, and serving as a basis for foreign borrowing). Reserve assets must be denominated and settled in foreign currency. This indicator is expressed as a percentage of total external debt which are all liabilities that require payment(s) of interest and/or principal by the debtor at some point(s) in the future and that are owed to non-residents by residents of an economy.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 32 values

Total reserves (% of total external debt) in nearby economies

• Albania — 60.82% (2024)
• Armenia — 22.48% (2024)
• Azerbaijan — 104.1% (2024)
• Belarus — 26.05% (2024)
• Bosnia and Herzegovina — 67.82% (2024)
• Georgia — 17.67% (2024)
• Kazakhstan — 27.34% (2024)
• Kosovo — 29.81% (2024)
• Kyrgyz Republic — 43.53% (2024)
• Moldova — 52.27% (2024)

More economic policy & debt data for Bulgaria

• Adjusted savings, education expenditure (% of GNI) — 4.06% (2021)
• Adjusted savings, net forest depletion (current US$) — US$0 (2021)
• Adjusted savings, mineral depletion (current US$) — US$387.76 million (2021)
• Adjusted savings, energy depletion (current US$) — US$46.2 million (2021)
• Trade in services (% of GDP) — 21.44% (2025)
• Communications, computer, etc. (% of service imports, BoP) — 37.95% (2025)
• Primary income payments (BoP, current US$) — US$11.11 billion (2025)
• Imports of goods and services (current US$, BoP) — US$67.93 billion (2025)
• Goods imports (current US$, BoP) — US$58.51 billion (2025)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Bulgaria's total reserves (% of total external debt)?

86.83% in 2022, according to the World Bank (World Development Indicators).

How has it changed since 1991?

It is up 81.12 percentage points from 5.71% in 1991. The highest value was 87.19% in 2021 and the lowest 5.71% in 1991.

Is the latest change in total reserves (% of total external debt) unusual for Bulgaria?

In 2022, Bulgaria's total reserves (% of total external debt) fell 0.36 percentage points on 2021 (from 87.19% to 86.83%). Across the 30 yearly changes before that (1992 to 2021), the average change was +2.72 percentage points and a typical year strayed about 5.73 percentage points from that (the standard deviation). This year's change was 0.5 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator FI.RES.TOTL.DT.ZS, licensed CC BY 4.0. Original source: International Debt Statistics, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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