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Economy of Algeria vs Mongolia compared: GDP & Debt

Updated on by Georank team

Algeria has a GDP of $264B compared to $23.6B for Mongolia, ranking 52/197 and 121/197 by economy size, respectively.

Algeria has $122B in government debt (57.8% of GDP), compared to $10.5B (42.6% of GDP) in Mongolia.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Algeria
GDP, current $

GDP, constant 2015 $
Mongolia
GDP, current $

GDP, constant 2015 $
Year GDP
Algeria Mongolia
Current $ Constant $ Current $ Constant $
1960 $2,723,615,451 $27,287,513,102 - -
1961 $2,434,747,056 $23,574,926,518 - -
1962 $2,001,444,544 $18,934,192,373 - -
1963 $2,702,982,018 $25,431,219,790 - -
1964 $2,909,316,435 $26,916,253,746 - -
1965 $3,136,284,307 $28,586,918,219 - -
1966 $3,039,859,187 $27,213,325,105 - -
1967 $3,370,870,376 $29,785,790,539 - -
1968 $3,852,147,027 $33,001,535,546 - -
1969 $4,257,253,264 $35,784,647,536 - -
1970 $4,863,526,897 $38,956,118,145 - -
1971 $5,077,183,094 $34,541,720,238 - -
1972 $6,766,743,957 $44,014,431,054 - -
1973 $8,707,858,912 $45,692,778,906 - -
1974 $13,209,871,626 $49,117,415,082 - -
1975 $15,557,902,754 $51,595,556,464 - -
1976 $17,728,240,932 $55,922,750,141 - -
1977 $20,972,113,685 $58,863,496,044 - -
1978 $26,364,491,313 $64,287,670,492 - -
1979 $33,243,706,860 $69,094,990,985 - -
1980 $42,345,829,079 $69,641,260,801 $2,101,394,100 -
1981 $44,348,590,461 $71,730,495,901 $2,310,099,100 $2,484,401,291
1982 $45,207,167,470 $76,321,250,590 $2,552,401,933 $2,691,653,428
1983 $48,801,369,800 $80,442,600,430 $2,725,736,633 $2,848,685,511
1984 $53,698,548,293 $84,947,383,263 $2,098,734,600 $3,017,709,971
1985 $57,937,868,670 $88,090,434,111 $2,186,505,475 $3,190,107,887
1986 $63,692,007,897 $88,442,796,731 $2,896,178,867 $3,489,180,327
1987 $66,745,818,375 $87,823,699,342 $3,020,611,600 $3,609,858,809
1988 $59,089,396,860 $86,945,457,527 $3,204,461,567 $3,794,249,397
1989 $55,634,721,573 $90,771,059,536 $3,576,966,800 $3,952,780,564
1990 $62,048,507,531 $91,497,228,539 $2,560,785,660 $3,826,905,841
1991 $45,715,676,428 $90,399,261,260 $2,379,018,326 $3,494,212,070
1992 $48,003,133,347 $92,026,450,044 $1,317,611,864 $3,170,771,528
1993 $49,945,584,453 $90,093,893,897 $768,401,634 $3,070,296,388
1994 $42,543,176,829 $89,283,051,957 $925,817,092 $3,135,828,262
1995 $41,764,291,672 $92,675,803,281 $1,452,165,005 $3,335,782,059
1996 $46,941,554,225 $96,475,509,799 $1,345,719,472 $3,410,339,918
1997 $48,177,612,042 $97,536,740,346 $1,180,934,203 $3,543,231,097
1998 $48,187,781,984 $102,511,117,625 $1,124,440,205 $3,661,572,769
1999 $48,640,671,735 $105,791,474,981 $1,057,408,589 $3,773,996,565
2000 $54,790,398,570 $109,811,551,032 $1,136,896,124 $3,817,248,911
2001 $59,413,400,924 $113,105,897,562 $1,267,997,934 $3,929,961,222
2002 $61,516,103,406 $119,213,616,030 $1,396,555,720 $4,115,965,440
2003 $73,482,264,191 $126,962,501,073 $1,595,297,356 $4,404,273,778
2004 $91,913,680,985 $132,675,813,621 $1,992,066,808 $4,872,245,747
2005 $107,046,618,670 $139,840,307,556 $2,523,471,601 $5,225,662,153
2006 $123,084,258,693 $143,895,676,474 $3,414,055,662 $5,672,782,077
2007 $142,482,739,810 $148,356,442,446 $4,234,999,704 $6,254,129,712
2008 $180,383,848,331 $152,065,353,507 $5,623,216,608 $6,810,770,268
2009 $150,317,292,079 $153,890,137,748 $4,583,850,368 $6,724,368,909
2010 $177,785,053,940 $161,276,864,361 $7,189,481,999 $7,152,385,862
2011 $218,331,946,925 $166,115,170,291 $10,409,797,378 $8,389,088,994
2012 $227,143,746,076 $170,101,934,379 $12,292,770,632 $9,422,609,645
2013 $229,701,430,292 $174,524,584,674 $12,582,122,604 $10,520,241,545
2014 $238,942,664,193 $181,680,092,643 $12,226,514,668 $11,349,786,312
2015 $187,493,855,609 $187,493,855,609 $11,619,892,591 $11,619,892,591
2016 $180,763,839,522 $194,806,115,978 $11,181,350,649 $11,793,003,948
2017 $189,880,896,903 $197,728,207,716 $11,480,847,741 $12,457,761,003
2018 $194,554,483,656 $200,496,402,626 $13,178,094,720 $13,422,599,720
2019 $193,459,662,091 $202,300,870,248 $14,206,359,018 $14,174,566,537
2020 $164,873,415,325 $192,185,826,737 $13,312,981,429 $13,528,524,951
2021 $186,231,205,262 $199,488,888,151 $15,286,441,738 $13,749,955,732
2022 $225,638,456,572 $206,670,488,127 $17,146,471,714 $14,441,951,079
2023 $247,626,161,016 $215,143,978,140 $20,325,121,394 $15,513,848,973
2024 $263,619,794,507 $222,243,729,417 $23,586,055,802 $16,268,442,809

Economic indicators

Algeria Mongolia
Gross domestic product
$264B
2024
$23.6B
2024
GDP rank
52/197
2024
121/197
2024
GDP growth
6.46%
2023-2024
16%
2023-2024
GDP per capita
$5,631
2024
$6,691
2024
GDP per capita rank
115/197
2024
107/197
2024
GDP per capita, PPP
$17,553
2024
$19,098
2024
Government debt
$122B
2024
$10.5B
2024
Debt-to-GDP ratio
57.8%
2025
42.6%
2025
Government debt per person
$2,602
2024
$2,969
2024
Government debt per person rank
109/185
2024
101/185
2024
Average annual personal income after taxes
$3,802
2025
$6,196
2025
Market capitalization of domestic companies
$371M
2018
n/a
Number of billionaires
1
2025
n/a
Income share by richest 10%
22.9%
2011
24.6%
2022
Income share by poorest 10%
4%
2011
3.4%
2022
Government expenditure, % of GDP
38.4%
2025
36.6%
2025
Consumer prices inflation
4.05%
2023-2024
8.3%
2024-2025
Central bank interest rate
3%
2020
12%
2025
Unemployment rate
12%
2017
5.18%
2023
Population
47911682
3599274

GDP per capita in Algeria vs Mongolia

Algeria's GDP per capita is $5,631, ranking 115/197, compared to $6,691 in Mongolia, ranking 107/197. Adjusted for purchasing power (GDP per capita PPP), Algeria ranks 104th at $17,553, while Mongolia ranks 96th at $19,098.

Algeria
GDP per capita

GDP per capita, PPP
Mongolia
GDP per capita

GDP per capita, PPP
Year Current $
Algeria Mongolia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $238.4 - - -
1961 $209.4 - - -
1962 $169.6 - - -
1963 $225.6 - - -
1964 $238.9 - - -
1965 $253.6 - - -
1966 $241.4 - - -
1967 $261.8 - - -
1968 $292.4 - - -
1969 $316 - - -
1970 $353 - - -
1971 $360 - - -
1972 $469 - - -
1973 $590 - - -
1974 $873 - - -
1975 $992 - - -
1976 $1,080 - - -
1977 $1,232 - - -
1978 $1,506 - - -
1979 $1,843 - - -
1980 $2,276 - $1,235 -
1981 $2,307 - $1,325 -
1982 $2,275 - $1,430 -
1983 $2,374 - $1,490 -
1984 $2,524 - $1,120 -
1985 $2,633 - $1,138 -
1986 $2,800 - $1,469 -
1987 $2,847 - $1,493 -
1988 $2,451 - $1,543 -
1989 $2,247 - $1,684 -
1990 $2,445 $7,602 $1,220 $3,479
1991 $1,759 $7,582 $1,099 $3,183
1992 $1,803 $7,705 $608 $2,951
1993 $1,831 $7,538 $355 $2,929
1994 $1,526 $7,463 $423 $3,021
1995 $1,467 $7,747 $653 $3,229
1996 $1,617 $8,053 $596 $3,310
1997 $1,629 $8,129 $515 $3,449
1998 $1,603 $8,503 $484 $3,555
1999 $1,596 $8,776 $449 $3,664
2000 $1,773 $9,187 $476 $3,740
2001 $1,896 $9,544 $524 $3,889
2002 $1,937 $10,080 $570 $4,083
2003 $2,284 $10,803 $643 $4,399
2004 $2,817 $11,432 $794 $4,942
2005 $3,233 $12,246 $995 $5,406
2006 $3,661 $12,791 $1,330 $5,977
2007 $4,167 $13,321 $1,628 $6,678
2008 $5,181 $13,666 $2,127 $7,297
2009 $4,235 $13,651 $1,703 $7,119
2010 $4,913 $14,201 $2,625 $7,532
2011 $5,916 $14,640 $3,736 $8,862
2012 $6,034 $14,441 $4,329 $10,152
2013 $5,980 $14,371 $4,340 $10,442
2014 $6,095 $14,694 $4,126 $10,900
2015 $4,685 $13,807 $3,839 $10,458
2016 $4,425 $13,438 $3,620 $10,511
2017 $4,555 $13,494 $3,646 $11,096
2018 $4,577 $13,727 $4,108 $12,317
2019 $4,468 $13,893 $4,348 $13,605
2020 $3,744 $12,677 $4,001 $13,693
2021 $4,161 $14,497 $4,518 $14,792
2022 $4,962 $15,836 $4,994 $16,402
2023 $5,364 $16,824 $5,839 $18,005
2024 $5,631 $17,553 $6,691 $19,098

Spending and national debt comparison

In 2024, Algeria's government spending was $99.9B, accounting for 38.4% of its GDP, while Mongolia's spent $8.92B, or 36.6% of GDP.

Debt-to-GDP ratio is 57.8% in Algeria and 42.6% in Mongolia, ranking 92/185 and 129/185, respectively.

Algeria
Government spending

Government debt
Mongolia
Government spending

Government debt
Year % of GDP
Algeria Mongolia
Government spending Government debt Government spending Government debt
1990 23.3% 63.6% 51.7% -
1991 27.6% 86.1% 46% -
1992 28.2% 69.3% 29.1% 29.3%
1993 32.6% 76.8% 38.3% 57.8%
1994 30.9% 106.3% 32.2% 57.6%
1995 28.9% 95.9% 26.6% 40.2%
1996 26.9% 90.7% 28.6% 49.7%
1997 28.5% 79.6% 30.8% 61%
1998 28.7% 79.9% 36.2% 77.5%
1999 29.4% 69.7% 33.2% 103.7%
2000 26.4% 53.4% 34.5% 79.3%
2001 29.1% 50% 35.2% 69.2%
2002 32.5% 47.3% 35.5% 72%
2003 27% 38.2% 33.7% 90%
2004 27.1% 32.7% 31.8% 75%
2005 27.8% 25.4% 25.1% 55.9%
2006 27.8% 22.5% 26.2% 40.9%
2007 33.1% 12.8% 35.3% 36.1%
2008 37.3% 7.64% 37.6% 31%
2009 40.1% 8.92% 35.5% 48.5%
2010 35.1% 9.51% 31.6% 31%
2011 37.7% 8.48% 37.9% 32.7%
2012 40% 8.58% 36.1% 43.7%
2013 33.5% 6.48% 32.2% 49.4%
2014 36.9% 6.85% 32.1% 44%
2015 40.9% 7.73% 31.2% 50.5%
2016 37.2% 18.1% 39.7% 78.7%
2017 36.2% 24% 32.2% 86.9%
2018 36.2% 34.5% 28.4% 76.5%
2019 37.1% 40.9% 30.8% 66.8%
2020 37.5% 46% 37.1% 83.4%
2021 32.5% 55.1% 35.9% 67.7%
2022 32.7% 48.1% 33.7% 64.5%
2023 37.4% 47.7% 31.9% 45.9%
2024 37.9% 46.2% 37.8% 44.4%
2025 38.4% 57.8% 36.6% 42.6%

Government deficit by year

In 2024, Algeria's government deficit, the difference between spending and revenue, was -$32.3B, equivalent to -12.2% of GDP. This compares to Mongolia's surplus of $332M, or 1.41% of GDP.

Over the past 35 years, Algeria recorded a fiscal deficit in 22 of those years, while Mongolia ran a deficit in 26 years. On average, Algeria posted an annual deficit equal to -1.53% of GDP, compared to deficit of -4.23% of GDP for Mongolia.

Deficit/surplus
Algeria

Mongolia
Year Deficit/surplus, % of GDP
Algeria Mongolia
1990 3.35% -9.37%
1991 1.53% -6.37%
1992 -1.05% -8.1%
1993 -7.79% -13.3%
1994 -4.05% -9.74%
1995 -1.3% -4.97%
1996 2.7% -6.88%
1997 2.19% -8.09%
1998 -3.52% -12.3%
1999 -1.83% -9.91%
2000 8.91% -5.82%
2001 3.15% -4.33%
2002 0.21% -4.74%
2003 7.22% -3.38%
2004 6.36% -1.62%
2005 11.4% 2.43%
2006 12.9% 7.58%
2007 4.63% 2.64%
2008 7.79% -4.52%
2009 -6.53% -5.2%
2010 -1.35% 0.43%
2011 -1.06% -4.01%
2012 -4.04% -6.24%
2013 -0.79% -0.93%
2014 -7.14% -3.73%
2015 -13.9% -5.04%
2016 -11.8% -15.3%
2017 -7.55% -3.72%
2018 -6.15% 2.85%
2019 -8.51% 1%
2020 -10.5% -9.24%
2021 -6.32% -3.05%
2022 -2.96% 0.67%
2023 -5.52% 2.73%
2024 -12.2% 1.41%
2025 -14.4% 0.95%

Inflation comparison by year

Over the past 29 years, Algeria has recorded an average annual inflation rate of 4.93%, compared with 10.7% in Mongolia. In 2024, inflation was 4.05% in Algeria and 8.3% in Mongolia.

Inflation
Algeria

Mongolia
Year Inflation
Algeria Mongolia Algeria Mongolia
1996 18.7% 46.8%
1997 5.73% 30%
1998 4.95% 9.5%
1999 2.65% 7.6%
2000 0.34% 11.3%
2001 4.23% 6.4%
2002 1.42% 0.9%
2003 4.27% 5.2%
2004 3.96% 8.3%
2005 1.38% 12.6%
2006 2.31% 4.4%
2007 3.68% 9.6%
2008 4.86% 28%
2009 5.74% 7.6%
2010 3.91% 8.3%
2011 4.52% 8.8%
2012 8.89% 13.8%
2013 3.25% 10.6%
2014 2.92% 12.9%
2015 4.78% 6.8%
2016 6.4% 0.8%
2017 5.59% 4.3%
2018 4.27% 6.8%
2019 1.95% 7.3%
2020 2.42% 3.7%
2021 7.23% 7.4%
2022 9.27% 15.1%
2023 9.32% 10.4%
2024 4.05% 6.2%
2025 - 8.3%

Balance of trade

Algeria Mongolia
Current account balance
-$2.75B
2024
-$2.49B
2024
Current account balance ranking
151/189
2024
147/189
2024
Current account balance, % of GDP
-1.04%
2024
-10.5%
2024
Goods imports
$45.3B
2024
$11.7B
2024
Goods exports
$48.8B
2024
$14.7B
2024
Service imports
$9.13B
2024
$4.92B
2024
Service exports
$4.22B
2024
$1.6B
2024
Imports of goods and services, % of GDP
20.1%
2023
69.8%
2024
Exports of goods and services, % of GDP
23.6%
2023
69.1%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Algeria Mongolia
Economic freedom 47.5 62.6
Economic freedom ranking 176/197 82/197
Property rights 27.6 49.7
Government integrity 29.5 35.5
Judicial effectiveness 29.8 55.4
Tax burden 80.3 85.7
Government spending 64.4 72.6
Fiscal health 58.1 73.5
Business freedom 59.1 67.9
Labor freedom 52.4 68.1
Monetary freedom 70.9 68.8
Trade freedom 57.4 74.4
Investment freedom 20 50
Financial freedom 20 50

Economic freedom by year comparison

The Economic Freedom Index for Algeria is 47.5, ranking 176/197, compared to 62.6 for Mongolia, ranking 82/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Algeria
Mongolia
Year Economic freedom index
Algeria Mongolia
1995 55.7 47.8
1996 54.5 47.4
1997 54.9 52.9
1998 55.8 57.3
1999 57.2 58.6
2000 56.8 58.5
2001 57.3 56
2002 61 56.7
2003 57.7 57.7
2004 58.1 56.5
2005 53.2 59.7
2006 55.7 62.4
2007 55.4 60.3
2008 56.2 63.6
2009 56.6 62.8
2010 56.9 60
2011 52.4 59.5
2012 51 61.5
2013 49.6 61.7
2014 50.8 58.9
2015 48.9 59.2
2016 50.1 59.4
2017 46.5 54.8
2018 44.7 55.7
2019 46.2 55.4
2020 46.9 55.9
2021 49.7 62.4
2022 45.8 63.9
2023 43.2 61.7
2024 43.9 60.6
2025 47.5 62.6

More economic indicators

Algeria Mongolia
Services, % of GDP
45.6%
2023
44.2%
2024
Industry, % of GDP
37.8%
2023
38.1%
2024
Agriculture, forestry, and fishing, % of GDP
13.1%
2023
7.38%
2024
GNI, Atlas method
$249B
2024
$18.9B
2024
GNI per capita, PPP
$17,220
2024
$16,930
2024
Total reserves including gold
$83B
2024
$5.51B
2024
Total reserves ranking
31/177
2024
95/177
2024
Net foreign direct investment
-$1.23B
2024
-$2.73B
2024
Net inflows of foreign direct investment
$1.23B
2024
$2.78B
2024
Net outflows of foreign direct investment
$265K
2024
$55.5M
2024
Servicing debt to the IMF, % of GNI
0.19%
2023
26.8%
2023
Poverty at national poverty lines
5.5%
2011
27.1%
2022
Gross capital formation, % of GDP
37.7%
2023
34.6%
2024

GDP per capita map

GDP per capita

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Economy vs Algeria vs Mongolia
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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.