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Economy of Bolivia vs Tonga compared: GDP & Debt

Updated on by Georank team

Bolivia has a GDP of $49.7B compared to $509M for Tonga, ranking 94/197 and 191/197 by economy size, respectively.

Bolivia has $47.2B in government debt (92.4% of GDP), compared to $224M (44.1% of GDP) in Tonga.

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

Bolivia
GDP, current $

GDP, constant 2015 $
Tonga
GDP, current $

GDP, constant 2015 $
Year GDP
Bolivia Tonga
Current $ Constant $ Current $ Constant $
1960 $373,250,000 $4,727,739,746 - -
1961 $406,000,000 $4,826,516,221 - -
1962 $443,916,667 $5,095,783,597 - -
1963 $478,000,000 $5,442,175,895 - -
1964 $538,583,333 $5,657,500,838 - -
1965 $598,333,333 $5,935,478,858 - -
1966 $662,500,000 $6,361,087,691 - -
1967 $748,250,000 $6,762,931,565 - -
1968 $849,333,333 $7,339,771,963 - -
1969 $920,333,333 $7,668,160,505 - -
1970 $1,006,833,333 $8,069,284,228 - -
1971 $1,084,666,667 $8,477,859,237 - -
1972 $1,286,153,846 $9,153,331,417 - -
1973 $1,263,600,000 $9,678,655,892 - -
1974 $2,101,300,000 $9,963,166,545 - -
1975 $2,405,900,000 $10,691,575,418 $32,506,742 -
1976 $2,733,350,000 $11,184,945,381 $30,036,417 -
1977 $3,229,050,000 $11,740,973,137 $34,139,388 -
1978 $3,760,100,000 $11,981,979,455 $41,567,472 -
1979 $4,510,500,000 $11,997,956,711 $44,667,002 -
1980 $4,450,360,000 $11,833,371,991 $53,260,077 -
1981 $5,778,480,000 $11,865,986,702 $62,242,013 $253,486,823
1982 $5,600,390,625 $11,398,616,583 $62,068,161 $265,505,306
1983 $5,414,008,621 $10,937,870,663 $60,863,964 $270,768,691
1984 $6,169,304,528 $10,915,922,108 $64,248,355 $275,475,712
1985 $5,377,276,657 $10,732,928,705 $60,058,663 $293,542,686
1986 $3,959,383,520 $10,456,675,549 $68,195,856 $299,761,860
1987 $4,347,956,338 $10,714,274,143 $81,667,133 $308,711,663
1988 $4,597,611,710 $11,026,005,731 $106,657,267 $302,902,105
1989 $4,715,973,437 $11,443,905,788 $106,344,855 $304,083,141
1990 $4,867,582,598 $11,974,420,934 $113,563,822 $297,867,403
1991 $5,343,262,457 $12,605,057,006 $132,201,141 $316,975,459
1992 $5,643,868,749 $12,812,599,040 $137,066,291 $317,774,152
1993 $5,734,699,489 $13,359,606,833 $138,489,884 $329,652,735
1994 $5,981,222,859 $13,983,135,101 $195,990,986 $345,978,857
1995 $6,715,161,732 $14,637,304,838 $208,871,666 $367,526,974
1996 $7,396,949,126 $15,275,687,755 $222,100,576 $367,868,474
1997 $7,925,736,821 $16,032,477,213 $214,991,452 $365,659,284
1998 $8,497,494,652 $16,838,807,368 $191,504,893 $374,042,303
1999 $8,285,064,435 $16,910,689,782 $199,208,718 $382,654,487
2000 $8,397,855,485 $17,334,777,888 $204,848,488 $397,019,710
2001 $8,141,516,928 $17,626,660,727 $181,117,230 $402,945,154
2002 $7,905,485,146 $18,064,782,967 $182,764,281 $420,792,496
2003 $8,082,399,640 $18,554,580,624 $202,246,591 $421,010,490
2004 $8,773,451,752 $19,328,918,118 $230,678,011 $412,725,225
2005 $9,549,122,905 $20,183,533,307 $261,823,805 $410,010,934
2006 $11,451,844,902 $21,151,739,181 $292,232,703 $401,131,477
2007 $13,120,108,008 $22,117,185,837 $298,519,623 $391,246,363
2008 $16,674,276,286 $23,477,060,538 $344,438,844 $410,272,053
2009 $17,339,992,194 $24,265,185,360 $312,415,028 $389,228,468
2010 $19,649,723,722 $25,266,542,246 $366,887,375 $392,437,256
2011 $23,963,164,697 $26,581,436,462 $414,143,828 $418,745,062
2012 $27,084,497,482 $27,943,010,891 $471,122,971 $422,596,516
2013 $30,659,338,886 $29,842,021,104 $451,788,498 $424,261,219
2014 $32,996,188,017 $31,471,565,409 $440,997,735 $432,706,298
2015 $33,000,198,249 $33,000,198,249 $437,525,539 $437,525,539
2016 $33,941,126,194 $34,407,300,587 $420,828,255 $466,396,531
2017 $37,508,642,171 $35,850,757,841 $459,976,847 $481,332,040
2018 $40,287,647,931 $37,364,958,928 $489,714,530 $484,641,421
2019 $40,895,322,851 $38,193,230,080 $494,197,854 $483,631,267
2020 $36,629,843,806 $34,855,949,803 $496,856,304 $492,256,327
2021 $40,406,111,693 $36,986,126,803 $518,228,029 $494,041,269
2022 $44,008,282,880 $38,319,728,338 $518,180,029 $482,629,586
2023 $45,135,398,003 $39,500,729,034 $508,735,107 $492,688,338
2024 $49,668,296,744 $40,047,688,830 - -

Economic indicators

Bolivia Tonga
Gross domestic product
$49.7B
2024
$509M
2023
GDP rank
94/197
2024
191/197
2023
GDP growth
10%
2023-2024
-1.82%
2022-2023
GDP per capita
$4,001
2024
$4,864
2023
GDP per capita rank
129/197
2024
121/197
2023
GDP per capita, PPP
$11,190
2024
$7,853
2023
Government debt
$47.2B
2024
$224M
2023
Debt-to-GDP ratio
92.4%
2025
44.1%
2025
Government debt per person
$3,803
2024
$2,138
2023
Government debt per person rank
92/185
2024
117/185
2023
Average annual personal income after taxes
$4,374
2025
$4,126
2025
Income share by richest 10%
31.3%
2023
22%
2021
Income share by poorest 10%
1.8%
2023
4%
2021
Government expenditure, % of GDP
35.6%
2025
49.7%
2025
Consumer prices inflation
5.1%
2023-2024
3.18%
2023-2024
Central bank interest rate
3.15%
2025
n/a
Unemployment rate
2.73%
2024
1.65%
2023
Population
12716350
103744

GDP per capita in Bolivia vs Tonga

Bolivia's GDP per capita is $4,001, ranking 129/197, compared to $4,864 in Tonga, ranking 121/197. Adjusted for purchasing power (GDP per capita PPP), Bolivia ranks 129th at $11,190, while Tonga ranks 141st at $7,853.

Bolivia
GDP per capita

GDP per capita, PPP
Tonga
GDP per capita

GDP per capita, PPP
Year Current $
Bolivia Tonga
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $100.8 - - -
1961 $107.4 - - -
1962 $115.1 - - -
1963 $121.4 - - -
1964 $133.9 - - -
1965 $145.6 - - -
1966 $157.8 - - -
1967 $174.3 - - -
1968 $193.5 - - -
1969 $205.1 - - -
1970 $219.4 - - -
1971 $231.1 - - -
1972 $267.9 - - -
1973 $257.3 - - -
1974 $418 - - -
1975 $468 - $349 -
1976 $520 - $315 -
1977 $600 - $353 -
1978 $683 - $428 -
1979 $801 - $458 -
1980 $773 - $545 -
1981 $981 - $636 -
1982 $931 - $633 -
1983 $880 - $621 -
1984 $982 - $656 -
1985 $838 - $613 -
1986 $604 - $696 -
1987 $650 - $830 -
1988 $673 - $1,078 -
1989 $675 - $1,070 -
1990 $683 $2,284 $1,139 $2,416
1991 $734 $2,434 $1,323 $2,652
1992 $760 $2,480 $1,370 $2,716
1993 $757 $2,595 $1,383 $2,882
1994 $774 $2,721 $1,957 $3,088
1995 $853 $2,853 $2,084 $3,347
1996 $922 $2,977 $2,215 $3,410
1997 $970 $3,121 $2,136 $3,434
1998 $1,022 $3,257 $1,889 $3,527
1999 $979 $3,260 $1,952 $3,636
2000 $976 $3,359 $1,995 $3,834
2001 $930 $3,434 $1,754 $3,955
2002 $888 $3,515 $1,759 $4,171
2003 $893 $3,620 $1,936 $4,231
2004 $953 $3,808 $2,195 $4,235
2005 $1,020 $4,033 $2,478 $4,315
2006 $1,203 $4,283 $2,750 $4,327
2007 $1,355 $4,522 $2,797 $4,316
2008 $1,693 $4,810 $3,218 $4,600
2009 $1,731 $4,920 $2,914 $4,384
2010 $1,930 $5,101 $3,416 $4,465
2011 $2,316 $5,389 $3,850 $4,855
2012 $2,576 $5,867 $4,384 $4,996
2013 $2,870 $6,590 $4,219 $5,120
2014 $3,041 $7,047 $4,137 $5,336
2015 $2,996 $7,152 $4,124 $5,472
2016 $3,036 $7,548 $3,988 $5,920
2017 $3,306 $8,510 $4,366 $6,229
2018 $3,501 $8,953 $4,639 $6,403
2019 $3,504 $9,174 $4,677 $6,489
2020 $3,100 $8,294 $4,700 $6,690
2021 $3,385 $9,454 $4,913 $7,035
2022 $3,644 $10,372 $4,933 $7,394
2023 $3,686 $10,925 $4,864 $7,853
2024 $4,001 $11,190 - -

Spending and national debt comparison

In 2024, Bolivia's government spending was $19.2B, accounting for 35.6% of its GDP, while Tonga's spent $245M, or 49.7% of GDP.

Debt-to-GDP ratio is 92.4% in Bolivia and 44.1% in Tonga, ranking 30/185 and 120/185, respectively.

Bolivia
Government spending

Government debt
Tonga
Government spending

Government debt
Year % of GDP
Bolivia Tonga
Government spending Government debt Government spending Government debt
1960 10.1% - - -
1961 10.7% - - -
1962 10.2% - - -
1963 10.8% - - -
1964 10.8% - - -
1965 12.9% - - -
1966 12.9% - - -
1967 13.1% - - -
1968 14.1% - - -
1969 12.3% - - -
1970 10% 63.9% - -
1971 11.3% 65.7% - -
1972 11.8% 77.7% - -
1973 14.1% 80.9% - -
1974 14.2% 52.7% - -
1975 14.4% 56.2% - -
1976 16.8% 68.9% - -
1977 18.6% 82.4% - -
1978 17.3% 82.5% - -
1979 18% 92% - -
1980 19.8% 100% - -
1981 16.6% 121.7% - -
1982 25% 155.4% - -
1983 32.1% 157.3% - -
1984 29% 166.5% - -
1985 21.8% 205.2% - -
1986 22.2% 149% - -
1987 24.4% 145.3% - -
1988 24% 115.9% - -
1989 24.4% 98% - -
1990 22.8% 102.9% - -
1991 24.2% 92.8% - -
1992 25.3% 92.4% - -
1993 27.2% 83.8% - -
1994 26.8% 87.6% - -
1995 25.8% 81.7% - -
1996 26% 72.4% - -
1997 28.3% 64.6% - -
1998 30% 61.2% - -
1999 29.4% 61.7% 18.8% 38.4%
2000 29.3% 74.3% 20% 43.6%
2001 32% 83% 19.1% 53.4%
2002 33.3% 86.7% 21.3% 60.7%
2003 32% 95.6% 20% 56.2%
2004 32.3% 89.8% 19.3% 52.2%
2005 33.2% 82.2% 19.8% 43.3%
2006 29.8% 54.4% 25.6% 39.6%
2007 32.7% 40% 23.2% 37.8%
2008 35.3% 36.8% 24% 34%
2009 33.2% 39.2% 23.9% 39.7%
2010 31.5% 37.6% 28.4% 44.7%
2011 35.4% 35.3% 32.6% 51.9%
2012 36% 35.4% 32% 60%
2013 35.4% 36.1% 34.3% 48.9%
2014 41.2% 37.6% 31.5% 47.4%
2015 44.5% 40.9% 37.4% 51.1%
2016 40% 46.5% 37.2% 49.4%
2017 38.6% 51.3% 39.7% 44.7%
2018 37.7% 53.1% 39.6% 45.8%
2019 36.1% 58.6% 39.9% 42.8%
2020 36.8% 78% 37.9% 42.6%
2021 34.8% 81.4% 44.6% 43%
2022 36% 80.1% 44.4% 43.8%
2023 38.7% 90.8% 48.2% 43.9%
2024 38.7% 95% 49.6% 38.2%
2025 35.6% 92.4% 49.7% 44.1%

Government deficit by year

In 2023, Bolivia's government deficit, the difference between spending and revenue, was -$4.94B, equivalent to -10.9% of GDP. This compares to Tonga's surplus of $31.2M, or 6.14% of GDP.

Over the past 25 years, Bolivia recorded a fiscal deficit in 18 of those years, while Tonga ran a deficit in 7 years. On average, Bolivia posted an annual deficit equal to -4.24% of GDP, compared to surplus of +1.95% of GDP for Tonga.

Deficit/surplus
Bolivia

Tonga
Year Deficit/surplus, % of GDP
Bolivia Tonga
1950 -1.17% -
1951 -0.42% -
1952 -0.94% -
1953 -0.48% -
1954 0.006% -
1955 0.33% -
1956 -0.11% -
1957 -1.11% -
1958 -2.95% -
1959 -4.32% -
1960 -3.35% -
1961 -2.81% -
1962 -2.8% -
1963 -3.02% -
1964 -2.68% -
1965 -4.12% -
1966 -3.55% -
1967 -4.29% -
1968 -5.67% -
1969 -4.16% -
1970 -1.92% -
1971 -3.67% -
1972 -3.69% -
1973 -3.72% -
1974 -1.87% -
1975 -2.33% -
1976 -1.15% -
1977 -11.2% -
1978 -9.97% -
1979 -11.2% -
1980 -15.3% -
1981 -12.3% -
1982 -15.9% -
1983 -19.8% -
1984 -25.4% -
1985 -9.8% -
1986 -2.7% -
1987 -7.7% -
1988 -6.5% -
1989 -5.5% -
1990 -4.4% -
1991 -4.2% -
1992 -4.4% -
1993 -6.1% -
1994 -3% -
1995 -1.82% -
1996 -1.9% -
1997 -3.28% -
1998 -5.1% -
1999 -3.84% 1.55%
2000 -3.73% 1.35%
2001 -6.82% 2.23%
2002 -8.79% 2.59%
2003 -7.88% 2.37%
2004 -5.54% 4.23%
2005 -2.24% 4.23%
2006 4.47% 1.34%
2007 -1.54% 5.39%
2008 3.53% 2.14%
2009 2.63% 6.85%
2010 1.62% -1.22%
2011 0.83% -6.02%
2012 1.72% -1.74%
2013 0.6% -1.3%
2014 -3.41% 6.38%
2015 -6.93% -2.75%
2016 -7.24% 1.47%
2017 -7.86% 3.58%
2018 -8.17% 2.92%
2019 -7.25% 3.28%
2020 -12.7% 5.25%
2021 -9.33% -0.87%
2022 -7.12% -0.69%
2023 -10.9% 6.14%
2024 -10.3% 3.49%
2025 -10.7% -7.9%

Inflation comparison by year

Over the past 29 years, Bolivia has recorded an average annual inflation rate of 4.54%, compared with 5.11% in Tonga. In 2024, inflation was 5.1% in Bolivia and 3.18% in Tonga.

Inflation
Bolivia

Tonga
Year Inflation
Bolivia Tonga Bolivia Tonga
1996 12.4% 3%
1997 4.71% 2.12%
1998 7.67% 3.27%
1999 2.16% 4.46%
2000 4.61% 6.33%
2001 1.59% 8.29%
2002 0.93% 10.4%
2003 3.34% 11.6%
2004 4.44% 11%
2005 5.39% 8.67%
2006 4.28% 6.15%
2007 8.71% 5.84%
2008 14% 10.4%
2009 3.35% 1.43%
2010 2.5% 3.53%
2011 9.88% 6.27%
2012 4.52% 1.15%
2013 5.74% 0.78%
2014 5.77% 2.51%
2015 4.06% -1.05%
2016 3.62% 2.58%
2017 2.82% 7.52%
2018 2.27% 5.03%
2019 1.84% 1.18%
2020 0.94% -0.35%
2021 0.74% 5.64%
2022 1.75% 11%
2023 2.58% 6.35%
2024 5.1% 3.18%

Balance of trade

Bolivia Tonga
Current account balance
-$1.44B
2024
-$21.2M
2024
Current account balance ranking
131/189
2024
76/189
2024
Current account balance, % of GDP
-2.89%
2024
-5.91%
2023
Goods imports
$9.15B
2024
$232M
2024
Goods exports
$8.93B
2024
$10.8M
2024
Service imports
$2.35B
2024
$161M
2024
Service exports
$1.14B
2024
$109M
2024
Imports of goods and services, % of GDP
30.9%
2023
75.4%
2023
Exports of goods and services, % of GDP
25.5%
2023
18.8%
2023

Economic freedom indices

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

Bolivia Tonga
Economic freedom 44.1 58.5
Economic freedom ranking 180/197 106/197
Property rights 19.9 67.9
Government integrity 27.3 45.8
Judicial effectiveness 29.4 65.7
Tax burden 88.8 84.9
Government spending 61.8 28.9
Fiscal health 4.4 96.3
Business freedom 54.8 59.5
Labor freedom 56.5 56.6
Monetary freedom 70.6 61
Trade freedom 60.6 75.4
Investment freedom 15 40
Financial freedom 40 20

Economic freedom by year comparison

The Economic Freedom Index for Bolivia is 44.1, ranking 180/197, compared to 58.5 for Tonga, ranking 106/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Bolivia
Tonga
Year Economic freedom index
Bolivia Tonga
1995 56.8 -
1996 65.2 -
1997 65.1 -
1998 68.8 -
1999 65.6 -
2000 65 -
2001 68 -
2002 65.1 -
2003 64.3 -
2004 64.5 -
2005 58.4 -
2006 57.8 -
2007 54.2 -
2008 53.1 -
2009 53.6 54.1
2010 49.4 53.4
2011 50 55.8
2012 50.2 57
2013 47.9 56
2014 48.4 58.2
2015 46.8 59.3
2016 47.4 59.6
2017 47.7 63
2018 44.1 63.1
2019 42.3 57.7
2020 42.8 58.8
2021 42.7 57.5
2022 43 60.8
2023 43.4 60
2024 43.5 59.2
2025 44.1 58.5

More economic indicators

Bolivia Tonga
Services, % of GDP
51.1%
2023
50.2%
2023
Industry, % of GDP
24.2%
2023
13.5%
2023
Agriculture, forestry, and fishing, % of GDP
13.5%
2023
17.5%
2023
GNI, Atlas method
$45.8B
2024
$578M
2023
GNI per capita, PPP
$10,880
2024
$8,560
2023
Total reserves including gold
$1.98B
2024
$377M
2024
Total reserves ranking
127/177
2024
163/177
2024
Net foreign direct investment
-$152M
2024
$13.3M
2024
Net inflows of foreign direct investment
$385M
2024
-$12.1M
2024
Net outflows of foreign direct investment
$233M
2024
$1.25M
2024
Servicing debt to the IMF, % of GNI
3.9%
2023
3.17%
2023
Poverty at national poverty lines
36.5%
2023
20.6%
2021
Gross capital formation, % of GDP
17.6%
2023
27%
2023

GDP per capita map

GDP per capita

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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.