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Economy of Ecuador vs Kiribati compared: GDP & Debt

Updated on by Georank team

Ecuador has a GDP of $125B compared to $308M for Kiribati, ranking 62/197 and 192/197 by economy size, respectively.

Ecuador has $67B in government debt (53.8% of GDP), compared to $30.5M (9.92% of GDP) in Kiribati.

Ecuador vs Kiribati GDP by year

Ecuador
Kiribati
1x
Year GDP, current $
Ecuador Kiribati
2024 $124,676,074,700 $307,862,564
2023 $121,147,057,000 $288,610,748
2022 $116,133,121,000 $270,040,453
2021 $107,179,074,000 $285,259,881
2020 $95,865,473,000 $220,898,020
2019 $107,595,830,000 $216,985,388
2018 $107,478,961,000 $233,514,717
2017 $104,467,486,000 $222,875,736
2016 $97,671,433,000 $206,467,819
2015 $97,209,558,000 $191,559,399
2014 $102,717,794,000 $200,287,282
2013 $96,570,334,000 $201,730,861
2012 $87,735,048,000 $207,001,546
2011 $78,986,648,000 $195,970,140
2010 $68,151,329,000 $165,458,433
2009 $60,094,978,000 $140,177,384
2008 $61,139,438,000 $147,017,895
2007 $49,848,725,000 $138,054,946
2006 $45,690,762,000 $112,338,353
2005 $40,278,849,000 $113,895,437
2004 $35,194,947,000 $104,085,892
2003 $30,965,208,000 $96,105,619
2002 $27,054,197,000 $74,743,869
2001 $23,127,055,000 $64,935,850
2000 $17,539,454,727 $74,910,527
1999 $19,645,272,636 $77,323,978
1998 $27,981,896,948 $74,905,706
1997 $28,162,053,027 $80,205,807
1996 $25,226,393,197 $81,456,854
1995 $24,432,884,442 $68,596,395
1994 $22,708,673,337 $67,055,334
1993 $18,938,717,359 $58,953,596
1992 $18,094,238,119 $61,491,369
1991 $16,988,535,268 $41,247,792
1990 $15,239,272,612 $36,534,295
1989 $13,890,823,705 $37,645,319
1988 $13,051,881,851 $38,278,810
1987 $13,945,426,859 $29,554,413
1986 $15,314,138,472 $25,993,009
1985 $17,149,088,413 $26,126,615
1984 $16,912,509,092 $34,394,167
1983 $17,152,477,037 $31,000,546
1982 $19,929,846,396 $32,742,713
1981 $21,810,759,354 $35,267,489
1980 $17,881,508,242 $33,157,723
1979 $14,175,160,902 $34,466,197
1978 $11,922,497,876 $36,563,965
1977 $11,026,342,618 $31,335,459
1976 $9,091,921,030 $33,246,817
1975 $7,731,674,472 $44,547,454
1974 $6,599,257,044 $69,256,489
1973 $3,891,754,150 $25,645,040
1972 $3,185,986,087 $15,314,346
1971 $2,754,219,271 $12,356,134
1970 $2,862,503,139 $11,560,877
1969 $3,112,165,727 -
1968 $2,582,179,864 -
1967 $2,553,595,172 -
1966 $2,429,308,639 -
1965 $2,387,047,396 -
1964 $2,244,146,103 -
1963 $1,824,343,871 -
1962 $1,518,207,703 -
1961 $1,753,850,955 -
1960 $2,069,464,937 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/ecuador/kiribati | CC BY

GDP per capita in Ecuador vs Kiribati by year

Ecuador
GDP per capita

GDP per capita, PPP
Kiribati
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ecuador Kiribati
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,875 $15,840 $2,289 $3,702
2023 $6,738 $15,919 $2,178 $3,486
2022 $6,516 $15,198 $2,070 $3,329
2021 $6,061 $13,507 $2,222 $3,020
2020 $5,464 $11,527 $1,752 $2,711
2019 $6,205 $12,543 $1,751 $2,763
2018 $6,304 $12,187 $1,913 $2,672
2017 $6,233 $11,793 $1,853 $2,562
2016 $5,918 $10,881 $1,743 $2,463
2015 $5,976 $10,878 $1,640 $2,311
2014 $6,406 $11,836 $1,737 $2,084
2013 $6,109 $11,296 $1,772 $2,049
2012 $5,634 $10,245 $1,844 $1,896
2011 $5,154 $9,769 $1,771 $1,786
2010 $4,520 $8,969 $1,522 $1,724
2009 $4,053 $8,662 $1,317 $1,718
2008 $4,195 $8,663 $1,411 $1,735
2007 $3,479 $8,112 $1,353 $1,792
2006 $3,244 $7,885 $1,123 $1,728
2005 $2,909 $7,457 $1,162 $1,617
2004 $2,586 $6,980 $1,083 $1,579
2003 $2,316 $6,475 $1,021 $1,578
2002 $2,059 $6,282 $810 $1,605
2001 $1,791 $5,999 $719 $1,591
2000 $1,382 $5,728 $845 $1,638
1999 $1,575 $5,638 $887 $1,526
1998 $2,284 $5,940 $874 $1,593
1997 $2,341 $5,793 $953 $1,535
1996 $2,136 $5,560 $986 $1,519
1995 $2,108 $5,469 $844 $1,518
1994 $1,997 $5,339 $838 $1,469
1993 $1,698 $5,112 $748 $1,431
1992 $1,655 $4,998 $792 $1,421
1991 $1,587 $4,887 $540 $1,139
1990 $1,455 $4,632 $488 $1,192
1989 $1,356 - $515 -
1988 $1,304 - $536 -
1987 $1,426 - $424 -
1986 $1,604 - $382 -
1985 $1,842 - $393 -
1984 $1,864 - $527 -
1983 $1,940 - $483 -
1982 $2,314 - $519 -
1981 $2,601 - $568 -
1980 $2,190 - $542 -
1979 $1,783 - $573 -
1978 $1,541 - $611 -
1977 $1,465 - $520 -
1976 $1,242 - $548 -
1975 $1,086 - $730 -
1974 $954 - $1,131 -
1973 $579 - $422 -
1972 $488 - $256.2 -
1971 $434 - $210.7 -
1970 $465 - $201 -
1969 $521 - - -
1968 $445 - - -
1967 $454 - - -
1966 $445 - - -
1965 $450 - - -
1964 $436 - - -
1963 $365 - - -
1962 $312 - - -
1961 $371 - - -
1960 $451 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/ecuador/kiribati | CC BY

Ecuador's GDP per capita is $6,875, ranking 103/197, compared to $2,289 in Kiribati, ranking 152/197. Adjusted for purchasing power (GDP per capita PPP), Ecuador ranks 110th at $15,840, while Kiribati ranks 169th at $3,702.

Economic indicators

Ecuador Kiribati
Gross domestic product
$125B
2024
$308M
2024
GDP rank
62/197
2024
192/197
2024
GDP growth
-2%
2023-2024
5.27%
2023-2024
GDP per capita
$6,875
2024
$2,289
2024
GDP per capita rank
103/197
2024
152/197
2024
GDP per capita, PPP
$15,840
2024
$3,702
2024
GDP per capita PPP rank
110/197
2024
169/197
2024
Government debt
$67B
2024
$30.5M
2024
Debt-to-GDP ratio
53.8%
2024
9.92%
2024
Government debt per person
$3,695
2024
$226.9
2024
Government debt per person rank
93/185
2024
181/185
2024
Average annual personal income after taxes
$5,894
2026
$1,967
2026
Market capitalization of domestic companies
$747M
2000
n/a
Income share by richest 10%
33.4%
2024
22.8%
2019
Income share by poorest 10%
1.5%
2024
4%
2019
Government expenditure, % of GDP
38.1%
2024
98.1%
2024
Consumer prices inflation
1.55%
2023-2024
2.5%
2023-2024
Unemployment rate
3.39%
2024
2.79%
2023
Population
18487749
139020

Spending and national debt comparison by year

Ecuador
Spending

Debt
Kiribati
Spending

Debt
1x
Year % of GDP
Ecuador Kiribati
Government spending Government debt Government spending Government debt
2024 38.1% 53.8% 98.1% 9.92%
2023 39.5% 54.3% 95.3% 11.4%
2022 38.9% 57.2% 87.5% 16.3%
2021 37.5% 61.8% 84% 17.3%
2020 40.2% 63.6% 102.2% 21%
2019 39.8% 52.1% 108.3% 19%
2018 40.9% 49.5% 108.8% 19%
2017 40.5% 47.4% 92.1% 20.2%
2016 44.1% 46.1% 99% 21.2%
2015 44.1% 36.4% 90.9% 18.8%
2014 45.9% 28.2% 101.2% 8.97%
2013 46.7% 23.4% 78% 8.86%
2012 43.2% 19.3% 83.9% 8.13%
2011 39.6% 18.6% 80.9% 8.8%
2010 35.4% 18.4% 75.7% 9.43%
2009 34.3% 19.7% 74.7% 10.3%
2008 35.6% 24.9% 79.4% 13.9%
2007 24.7% 29.6% 77.3% 11.1%
2006 21.7% 33.1% 82.1% 12.9%
2005 22% 35.8% 95.6% 12.1%
2004 21.3% 40.2% 103.8% 13.6%
2003 21.3% 47.2% 84.4% 12.3%
2002 22.8% 55% 96.9% 13.3%
2001 21.4% 63.8% 101.3% 17%
2000 24.3% 92.2% 66% 12.7%
1999 24.1% 105.2% 77.6% 11.8%
1998 21.5% 70.3% 74.7% 9.81%
1997 22% 61.5% 70.9% 10.7%
1996 22.7% 69.3% 68.4% 11%
1995 22% 70.5% 69.6% 12.3%
1994 - - 54.6% 12.3%
1993 - - 55.3% 10.9%
1992 - - 65.9% 7.31%
1991 - - 82.1% 8.43%
1990 - - 105.5% 7.72%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1995–2000, retrieved 2026-02-20).

GeoRank.org/economy/ecuador/kiribati | CC BY

In 2024, Ecuador's government spending was $47.5B, accounting for 38.1% of its GDP, while Kiribati spent $302M, or 98.1% of GDP.

Debt-to-GDP ratio is 53.8% in Ecuador and 9.92% in Kiribati, ranking 98/185 and 180/185, respectively.

Government deficit by year

Deficit/surplus
Ecuador

Kiribati
1x
Year Deficit/surplus, % of GDP
Ecuador Kiribati
2024 -1.28% -22%
2023 -3.48% 0.13%
2022 0.04% -18.3%
2021 -1.59% -10.8%
2020 -7.38% 3.57%
2019 -3.47% 10.8%
2018 -2.8% 5.18%
2017 -5.77% 34.1%
2016 -10.3% 20.1%
2015 -6.87% 42.5%
2014 -8.11% 35%
2013 -8.17% 11.8%
2012 -2.83% -5.43%
2011 -0.13% -17.6%
2010 -1.39% -7.8%
2009 -3.71% -8.56%
2008 0.57% -15.8%
2007 2.66% -12.5%
2006 2.92% -12.3%
2005 0.66% -9.96%
2004 1.94% -19.2%
2003 1.05% -8.93%
2002 0.74% 3.13%
2001 0.03% -10.9%
2000 -0.32% -0.03%
1999 -4.82% -1.81%
1998 -5.1% 14.6%
1997 -2.83% 5.92%
1996 -3.44% -20.2%
1995 -2.02% -5.14%
1994 - 0.74%
1993 - 6.27%
1992 - 0.79%
1991 - 3.87%
1990 - -4.62%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/ecuador/kiribati | CC BY

In 2024, Ecuador's government deficit, the difference between spending and revenue, was $1.59B, equivalent to 1.28% of GDP. This compares to Kiribati's deficit of $67.7M, or 22% of GDP.

Over the past 30 years, Ecuador recorded a fiscal deficit in 21 of those years, while Kiribati ran a deficit in 18 years. On average, Ecuador posted an annual deficit equal to 2.51% of GDP, compared to deficit of 0.68% of GDP for Kiribati.

Inflation comparison by year

Inflation
Ecuador

Kiribati
1x
Year Consumer prices inflation
Ecuador Kiribati
2024 1.55% 2.5%
2023 2.22% 9.3%
2022 3.47% 5.3%
2021 0.13% 2.1%
2020 -0.34% 2.6%
2019 0.27% -1.8%
2018 -0.22% 0.6%
2017 0.42% 0.4%
2016 1.73% 1.9%
2015 3.97% 0.6%
2014 3.59% 2.1%
2013 2.72% -1.5%
2012 5.1% -3%
2011 4.47% 1.5%
2010 3.55% -3.9%
2009 5.16% 9.8%
2008 8.4% 13.7%
2007 2.28% 3.6%
2006 3.3% -1%
2005 2.17% -0.4%
2004 2.74% -0.7%
2003 7.93% 1.6%
2002 12.5% 3.2%
2001 37.7% 6%
2000 96.1% 0.4%
1999 52.2% 1.8%
1998 36.1% 3.7%
1997 30.7% 2.6%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/ecuador/kiribati | CC BY

Over the past 28 years, Ecuador has recorded an average annual inflation rate of 11.8%, compared with 2.25% in Kiribati. In 2024, inflation was 1.55% in Ecuador and 2.5% in Kiribati.

Top exports between countries

Ecuador
Export category Export value
Raw materials & minerals $232K
Kiribati
Export category Export value

Balance of trade

Ecuador Kiribati
Current account balance
$7.06B
2024
-$59.5M
2024
Current account balance ranking
27/190
2024
85/190
2024
Current account balance, % of GDP
+5.66%
2024
-19.3%
2024
Goods imports
$27.9B
2024
$227M
2024
Goods exports
$34.7B
2024
$8.49M
2024
Service imports
$6.18B
2024
$108M
2024
Service exports
$3.86B
2024
$7M
2024
Imports of goods and services, % of GDP
26.9%
2024
94.9%
2024
Exports of goods and services, % of GDP
30.3%
2024
6.27%
2024

Economic freedom indices

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

Ecuador Kiribati
Economic freedom 55.6 50.8
Economic freedom ranking 127/197 158/197
Property rights 33.2 69.6
Government integrity 33 50.5
Judicial effectiveness 48.1 54.6
Tax burden 74.2 72.6
Government spending 54.9 0
Fiscal health 90.3 19.8
Business freedom 64.3 60.2
Labor freedom 56.9 65.3
Monetary freedom 76.3 76.7
Trade freedom 66.4 80
Investment freedom 30 30
Financial freedom 40 30

Economic freedom comparison by year

Ecuador
Kiribati
1x
Year Economic freedom index
Ecuador Kiribati
2026 55.6 50.8
2025 55.8 50.9
2024 55 51.3
2023 55 58.8
2022 54.3 59.2
2021 52.4 44.4
2020 51.3 45.2
2019 46.9 47.3
2018 48.5 50.8
2017 49.3 50.9
2016 48.6 46.2
2015 49.2 46.4
2014 48 46.3
2013 46.9 45.9
2012 48.3 46.9
2011 47.1 44.8
2010 49.3 43.7
2009 52.5 45.7
2008 55.2 -
2007 55.3 -
2006 54.6 -
2005 52.9 -
2004 54.4 -
2003 54.1 -
2002 53.1 -
2001 55.1 -
2000 59.8 -
1999 62.9 -
1998 62.8 -
1997 61 -
1996 60.1 -
1995 57.7 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/ecuador/kiribati | CC BY

The Economic Freedom Index for Ecuador is 55.6, ranking 127/197, compared to 50.8 for Kiribati, ranking 158/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Ecuador Kiribati
Services, % of GDP
57.2%
2024
67.1%
2023
Industry, % of GDP
26.5%
2024
11.5%
2023
Agriculture, forestry, and fishing, % of GDP
9.48%
2024
27.2%
2023
GNI, Atlas method
$117B
2024
$493M
2024
GNI per capita, PPP
$15,410
2024
$6,060
2024
Total reserves including gold
$6.91B
2024
n/a
Total reserves ranking
87/177
2024
n/a
Net foreign direct investment
-$438M
2024
-$8.06M
2024
Net inflows of foreign direct investment
$443M
2024
$8.07M
2024
Net outflows of foreign direct investment
$0
2024
$16.4K
2024
Servicing debt to the IMF, % of GNI
7%
2024
n/a
Poverty at national poverty lines
28%
2024
5.5%
2023
Gross capital formation, % of GDP
18.5%
2024
25.8%
2023

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/ecuador/kiribati | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1995–2000, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. TradeMap (2020, retrieved 2026-02-08)

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.