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Economy of Belarus vs Seychelles compared: GDP & Debt

Updated on by Georank

Belarus has a GDP of $93.4B compared to $2.39B for the Seychelles, ranking 80/197 and 177/197 by economy size, respectively.

Belarus has $30.9B in government debt (33.1% of GDP), compared to $1.23B (51.5% of GDP) in the Seychelles.

Belarus vs Seychelles GDP by year

Belarus
Seychelles
1x
Year GDP, current $
Belarus Seychelles
2025 $93,397,215,864 $2,387,022,853
2024 $78,591,839,300 $2,228,608,684
2023 $72,478,760,370 $2,171,547,935
2022 $73,775,179,925 $1,999,888,599
2021 $69,673,747,132 $1,487,173,795
2020 $61,371,673,345 $1,382,551,752
2019 $64,410,170,653 $1,868,690,097
2018 $60,031,026,576 $1,784,313,927
2017 $54,725,405,751 $1,675,370,641
2016 $47,723,545,321 $1,568,513,348
2015 $56,454,769,845 $1,432,403,352
2014 $78,813,069,121 $1,387,577,870
2013 $75,527,558,966 $1,333,160,407
2012 $65,685,890,439 $1,089,407,839
2011 $61,762,382,328 $1,058,918,707
2010 $57,231,904,543 $981,616,542
2009 $50,873,167,326 $850,901,620
2008 $60,752,106,347 $979,597,394
2007 $45,275,711,996 $1,077,308,814
2006 $36,961,894,281 $1,081,441,283
2005 $30,210,091,837 $977,899,382
2004 $23,141,566,293 $893,012,218
2003 $17,825,444,724 $750,847,230
2002 $14,594,900,945 $742,134,838
2001 $12,354,820,144 $662,064,156
2000 $12,736,856,828 $654,212,394
1999 $12,138,486,532 $662,838,615
1998 $15,222,012,660 $647,287,376
1997 $14,128,408,566 $598,966,982
1996 $14,500,437,520 $535,250,347
1995 $13,972,683,274 $540,733,048
1994 $14,931,435,232 $517,570,058
1993 $16,275,073,527 $504,230,621
1992 $16,939,790,094 $461,409,399
1991 $18,404,907,975 $398,307,170
1990 $17,389,558,233 $392,163,561
1989 - $324,333,367
1988 - $301,985,618
1987 - $265,212,957
1986 - $221,147,061
1985 - $179,691,483
1984 - $160,992,921
1983 - $156,098,237
1982 - $157,211,790
1981 - $163,750,728
1980 - $156,783,830
1979 - $127,261,099
1978 - $85,552,366
1977 - $64,526,401
1976 - $49,278,982
1975 - $47,803,146
1974 - $43,134,496
1973 - $36,896,280
1972 - $30,645,123
1971 - $21,965,951
1970 - $18,432,032
1969 - $16,452,028
1968 - $16,074,028
1967 - $16,632,032
1966 - $16,443,034
1965 - $15,603,032
1964 - $15,393,032
1963 - $13,923,029
1962 - $12,642,026
1961 - $11,592,024
1960 - $12,012,025

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/belarus/seychelles | CC BY

GDP per capita in Belarus vs Seychelles by year

Belarus
GDP per capita

GDP per capita, PPP
Seychelles
GDP per capita

GDP per capita, PPP
1x
Year Current $
Belarus Seychelles
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $10,279 - $19,449 -
2024 $8,606 $33,010 $18,365 $33,239
2023 $7,897 $30,834 $18,131 $31,781
2022 $7,995 $28,429 $16,683 $29,973
2021 $7,490 $27,611 $14,983 $29,980
2020 $6,543 $24,872 $14,041 $31,056
2019 $6,838 $22,302 $19,142 $34,219
2018 $6,360 $20,026 $18,440 $32,091
2017 $5,786 $18,414 $17,480 $30,675
2016 $5,040 $17,832 $16,567 $28,811
2015 $5,967 $18,134 $15,333 $25,435
2014 $8,341 $19,038 $15,188 $24,985
2013 $7,998 $19,014 $14,821 $22,487
2012 $6,953 $18,115 $12,337 $22,264
2011 $6,528 $16,563 $12,110 $21,781
2010 $6,035 $15,339 $10,935 $18,982
2009 $5,352 $14,034 $9,747 $18,453
2008 $6,376 $13,886 $11,265 $18,881
2007 $4,735 $12,320 $12,669 $19,473
2006 $3,848 $10,995 $12,783 $17,503
2005 $3,126 $9,637 $11,802 $15,846
2004 $2,378 $8,483 $10,828 $14,160
2003 $1,820 $7,362 $9,070 $14,142
2002 $1,479 $6,697 $8,864 $14,570
2001 $1,244 $6,238 $8,153 $14,615
2000 $1,276 $5,796 $8,064 $14,638
1999 $1,211 $5,331 $8,243 $13,853
1998 $1,511 $5,061 $8,210 $13,675
1997 $1,396 $4,596 $7,747 $13,458
1996 $1,427 $4,039 $7,004 $11,931
1995 $1,371 $3,846 $7,181 $10,809
1994 $1,460 $4,190 $6,975 $10,692
1993 $1,590 $4,641 $6,979 $11,020
1992 $1,658 $4,917 $6,520 $10,243
1991 $1,805 $5,330 $5,655 $9,387
1990 $1,707 $5,220 $5,642 $8,955
1989 - - $4,689 -
1988 - - $4,392 -
1987 - - $3,872 -
1986 - - $3,368 -
1985 - - $2,754 -
1984 - - $2,488 -
1983 - - $2,426 -
1982 - - $2,441 -
1981 - - $2,557 -
1980 - - $2,478 -
1979 - - $2,030 -
1978 - - $1,377 -
1977 - - $1,044 -
1976 - - $814 -
1975 - - $806 -
1974 - - $745 -
1973 - - $649 -
1972 - - $547 -
1971 - - $402 -
1970 - - $344 -
1969 - - $314 -
1968 - - $314 -
1967 - - $333 -
1966 - - $338 -
1965 - - $328 -
1964 - - $332 -
1963 - - $308 -
1962 - - $287 -
1961 - - $270.3 -
1960 - - $288.1 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/belarus/seychelles | CC BY

Belarus' GDP per capita is $10,279, ranking 88/197, compared to $19,449 in the Seychelles, ranking 64/197. Adjusted for purchasing power (GDP per capita PPP), Belarus ranks 68th at $33,010, while the Seychelles ranks 67th at $33,239.

Economic indicators

Belarus Seychelles
Gross domestic product
$93.4B
2025
$2.39B
2025
GDP rank
80/197
2025
177/197
2025
GDP growth
1.3%
2024-2025
5.8%
2024-2025
GDP per capita
$10,279
2025
$19,449
2025
GDP per capita rank
88/197
2025
64/197
2025
GDP per capita, PPP
$33,010
2024
$33,239
2024
GDP per capita PPP rank
68/197
2024
67/197
2024
Government debt
$30.9B
2025
$1.23B
2025
Debt-to-GDP ratio
33.1%
2025
51.5%
2025
Government debt per person
$3,399
2025
$10,019
2025
Government debt per person rank
98/185
2025
59/185
2025
Average annual personal income after taxes
$8,062
2026
$11,537
2026
Market capitalization of domestic companies
$5.54B
2025
$646M
2025
Income share by richest 10%
20.7%
2020
23.9%
2018
Income share by poorest 10%
4.5%
2020
2.6%
2018
Government expenditure, % of GDP
41.3%
2025
32.7%
2025
Consumer prices inflation
6.6%
2024-2025
0.3%
2024-2025
Central bank interest rate
9.25%
2026
1.75%
2024
Unemployment rate
3.04%
2024
2.59%
2024
Population
9025821
125859

Spending and national debt comparison by year

Belarus
Spending

Debt
Seychelles
Spending

Debt
1x
Year % of GDP
Belarus Seychelles
Government spending Government debt Government spending Government debt
2025 41.3% 33.1% 32.7% 51.5%
2024 40.8% 38.7% 33% 56.1%
2023 40.3% 40.7% 33.1% 55.1%
2022 38% 40.8% 31.6% 60.6%
2021 36.7% 41.2% 38.8% 71%
2020 38% 47.5% 46.7% 77.4%
2019 37.4% 41% 31.7% 48.9%
2018 37.8% 47.5% 33% 51.3%
2017 39% 53.2% 34.3% 56.7%
2016 40.7% 53.5% 34.5% 64.3%
2015 41.8% 53% 31.5% 75.4%
2014 38.8% 38.8% 33.4% 70.4%
2013 40.8% 36.9% 37.8% 68.2%
2012 38.9% 36.9% 38.6% 80.1%
2011 40.3% 58.2% 36.4% 82.5%
2010 44.3% 36.8% 34.6% 82.2%
2009 51.7% 32.5% 32.1% 106.1%
2008 60% 20.3% 27% 192.1%
2007 49.2% 15.8% 41.9% 144%
2006 47.2% 12.3% 43.6% 135.1%
2005 45% 8.12% 39% 144.1%
2004 44% 9.22% 39.9% 163.2%
2003 43.5% - 44.6% 177%
2002 43.8% - 56.3% 195.9%
2001 42.4% - 46.8% 199.8%
2000 - - 55.4% 177.8%
1999 - - 56.1% 159.8%
1998 - - 60.7% 161.2%
1997 - - 54.7% 143%
1996 - - 59.1% 146.7%
1995 - - 53.1% 133.5%
1994 - - 63.6% 123.5%
1993 - - 60.4% 82.2%
1992 - - 50.7% 79.9%
1991 - - 52.1% 89.2%
1990 - - 46.1% 80.4%
1989 - - 51.7% 39.9%
1988 - - 46.7% 41.3%
1987 - - 49.7% 37%
1986 - - 58% 31.5%
1985 - - 53% 26.5%
1984 - - 50.5% 15.3%
1983 - - 47.9% 12.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1983–1989, retrieved 2026-07-08).

GeoRank.org/economy/belarus/seychelles | CC BY

In 2025, Belarus' government spending was $38.6B, accounting for 41.3% of its GDP, while the Seychelles spent $781M, or 32.7% of GDP.

Debt-to-GDP ratio is 33.1% in Belarus and 51.5% in the Seychelles, ranking 148/185 and 102/185, respectively.

Government deficit by year

Deficit/surplus
Belarus

Seychelles
1x
Year Deficit/surplus, % of GDP
Belarus Seychelles
2025 0.15% -0.99%
2024 0.54% -0.68%
2023 0.76% -1.15%
2022 -1.98% -0.77%
2021 -0.22% -5.76%
2020 -2.87% -15.7%
2019 0.91% 0.42%
2018 1.8% -0.8%
2017 -0.34% -1.67%
2016 -1.66% 0.02%
2015 -2.96% 1.39%
2014 0.09% 2.87%
2013 -0.98% 0.33%
2012 0.36% 2.93%
2011 -2.81% 3.36%
2010 -4.19% 0.52%
2009 -7.23% 4.84%
2008 -10.9% 7.88%
2007 -7.82% -9.93%
2006 -7.71% -2.54%
2005 -6.71% 0.42%
2004 -7.06% 0.44%
2003 -6.74% 3.4%
2002 -7.81% -16.3%
2001 -4.74% -8.93%
2000 - -14.7%
1999 - -10.3%
1998 - -16.7%
1997 - -5.91%
1996 - -9.69%
1995 - -2.58%
1994 - -6.95%
1993 - -3.62%
1992 - 6.44%
1991 - 3.15%
1990 - 11.9%
1989 - 8.26%
1988 - 11.8%
1987 - 2.77%
1986 - -10.1%
1985 - -4.86%
1984 - -6.09%
1983 - -3.13%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1983–1989, retrieved 2026-07-08).

GeoRank.org/economy/belarus/seychelles | CC BY

In 2025, Belarus' government surplus, the difference between spending and revenue, was $140M, equivalent to 0.15% of GDP. This compares to the Seychelles' deficit of $23.5M, or 0.99% of GDP.

Over the past 25 years, Belarus recorded a fiscal deficit in 18 of those years, while the Seychelles ran a deficit in 12 years. On average, Belarus posted an annual deficit equal to 3.2% of GDP, compared to deficit of 1.46% of GDP for the Seychelles.

Inflation comparison by year

Inflation
Belarus

Seychelles
1x
Year Consumer prices inflation
Belarus Seychelles
2025 6.6% 0.3%
2024 5.7% 0.31%
2023 5% -1.04%
2022 15.2% 2.63%
2021 9.5% 9.77%
2020 5.5% 1.2%
2019 5.6% 1.81%
2018 4.9% 3.7%
2017 6% 2.86%
2016 11.8% -1.02%
2015 13.5% 4.04%
2014 18.1% 1.39%
2013 18.3% 4.34%
2012 59.2% 7.11%
2011 53.2% 2.56%
2010 7.7% -2.4%
2009 13% 31.8%
2008 14.8% 37%
2007 8.4% 5.32%
2006 7% -0.35%
2005 10.3% 0.91%
2004 18.1% 3.86%
2003 28.4% 3.3%
2002 42.6% 0.18%
2001 61.1% 5.97%
2000 168.6% 6.27%
1999 293.7% 6.35%
1998 73% 2.58%
1997 63.8% 0.62%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/belarus/seychelles | CC BY

Over the past 29 years, Belarus has recorded an average annual inflation rate of 36.2%, compared with 4.87% in the Seychelles. In 2025, inflation was 6.6% in Belarus and 0.3% in the Seychelles.

Balance of trade

Belarus Seychelles
Current account balance
-$1.82B
2025
-$166M
2024
Current account balance ranking
137/190
2025
90/190
2024
Current account balance, % of GDP
-1.94%
2025
-7.46%
2024
Goods imports
$46B
2025
$1.38B
2024
Goods exports
$40B
2025
$595M
2024
Service imports
$7.55B
2025
$1B
2024
Service exports
$11.7B
2025
$1.71B
2024
Imports of goods and services, % of GDP
57%
2025
92.7%
2025
Exports of goods and services, % of GDP
55.1%
2025
79.6%
2025

Economic freedom indices

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

Belarus Seychelles
Economic freedom 49.1 66.5
Economic freedom ranking 166/197 60/197
Property rights 20 82.6
Government integrity 28.3 71.7
Judicial effectiveness 11.5 61.7
Tax burden 93.5 77.3
Government spending 52.6 68
Fiscal health 96.8 92.2
Business freedom 50.3 71.3
Labor freedom 48 52
Monetary freedom 69 79.8
Trade freedom 69.2 81.2
Investment freedom 30 30
Financial freedom 20 30

Economic freedom comparison by year

Belarus
Seychelles
1x
Year Economic freedom index
Belarus Seychelles
2026 49.1 66.5
2025 48.9 66.4
2024 48.4 60.4
2023 51 59.5
2022 53 61.1
2021 61 66.3
2020 61.7 64.3
2019 57.9 61.4
2018 58.1 61.6
2017 58.6 61.8
2016 48.8 62.2
2015 49.8 57.5
2014 50.1 56.2
2013 48 54.9
2012 49 53
2011 47.9 51.2
2010 48.7 47.9
2009 45 47.8
2008 45.3 -
2007 47 -
2006 47.5 -
2005 46.7 -
2004 43.1 -
2003 39.7 -
2002 39 -
2001 38 -
2000 41.3 -
1999 35.4 -
1998 38 -
1997 39.8 -
1996 38.7 -
1995 40.4 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/belarus/seychelles | CC BY

The Economic Freedom Index for Belarus is 49.1, ranking 166/197, compared to 66.5 for the Seychelles, ranking 60/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Belarus Seychelles
Services, % of GDP
50%
2025
67.9%
2025
Industry, % of GDP
31.6%
2025
14.3%
2025
Agriculture, forestry, and fishing, % of GDP
6.9%
2025
2.61%
2025
GNI, Atlas method
$83.3B
2025
$2.36B
2025
GNI per capita, PPP
$34,310
2025
$34,930
2025
Total reserves including gold
$14.5B
2025
$774M
2024
Total reserves ranking
72/177
2025
146/177
2024
Net foreign direct investment
-$1.43B
2025
-$268M
2024
Net inflows of foreign direct investment
$1.74B
2024
$226M
2024
Net outflows of foreign direct investment
$170M
2024
-$41.4M
2024
Servicing debt to the IMF, % of GNI
6.94%
2024
n/a
Poverty at national poverty lines
3.5%
2024
25.3%
2018
Gross capital formation, % of GDP
27.1%
2025
18.7%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/belarus/seychelles | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1983–1989, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

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.