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Economy of Ecuador vs Malta compared: GDP & Debt

Updated on by Georank team

Ecuador has a GDP of $125B compared to $25B for Malta, ranking 62/197 and 119/197 by economy size, respectively.

Ecuador has $67B in government debt (53.8% of GDP), compared to $11.5B (46.2% of GDP) in Malta.

Ecuador vs Malta GDP by year

Ecuador
Malta
1x
Year GDP, current $
Ecuador Malta
2024 $124,676,074,700 $24,971,574,502
2023 $121,147,057,000 $22,610,561,526
2022 $116,133,121,000 $18,928,276,162
2021 $107,179,074,000 $19,739,875,611
2020 $95,865,473,000 $16,404,663,226
2019 $107,595,830,000 $16,337,793,531
2018 $107,478,961,000 $16,153,779,511
2017 $104,467,486,000 $14,161,366,724
2016 $97,671,433,000 $12,025,782,834
2015 $97,209,558,000 $11,340,795,042
2014 $102,717,794,000 $11,888,032,874
2013 $96,570,334,000 $10,796,782,636
2012 $87,735,048,000 $9,609,532,089
2011 $78,986,648,000 $9,789,361,703
2010 $68,151,329,000 $9,097,044,159
2009 $60,094,978,000 $8,734,745,698
2008 $61,139,438,000 $9,135,419,465
2007 $49,848,725,000 $7,908,412,306
2006 $45,690,762,000 $6,749,838,806
2005 $40,278,849,000 $6,393,234,993
2004 $35,194,947,000 $6,104,141,520
2003 $30,965,208,000 $5,418,315,224
2002 $27,054,197,000 $4,455,127,414
2001 $23,127,055,000 $4,070,867,133
2000 $17,539,454,727 $4,036,809,815
1999 $19,645,272,636 $4,111,857,809
1998 $27,981,896,948 $4,010,111,688
1997 $28,162,053,027 $3,787,023,707
1996 $25,226,393,197 $3,822,547,197
1995 $24,432,884,442 $3,709,396,045
1994 $22,708,673,337 $2,998,505,428
1993 $18,938,717,359 $2,709,193,538
1992 $18,094,238,119 $3,021,942,759
1991 $16,988,535,268 $2,750,216,747
1990 $15,239,272,612 $2,547,328,748
1989 $13,890,823,705 $2,118,655,677
1988 $13,051,881,851 $2,019,503,068
1987 $13,945,426,859 $1,751,293,461
1986 $15,314,138,472 $1,435,038,441
1985 $17,149,088,413 $1,117,797,439
1984 $16,912,509,092 $1,101,807,023
1983 $17,152,477,037 $1,165,729,707
1982 $19,929,846,396 $1,234,474,404
1981 $21,810,759,354 $1,243,509,394
1980 $17,881,508,242 $1,250,198,601
1979 $14,175,160,902 $1,001,288,847
1978 $11,922,497,876 $793,673,402
1977 $11,026,342,618 $625,563,171
1976 $9,091,921,030 $527,936,989
1975 $7,731,674,472 $474,618,321
1974 $6,599,257,044 $376,081,124
1973 $3,891,754,150 $345,616,106
1972 $3,185,986,087 $295,106,628
1971 $2,754,219,271 $264,578,485
1970 $2,862,503,139 $250,728,796
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/malta | CC BY

GDP per capita in Ecuador vs Malta by year

Ecuador
GDP per capita

GDP per capita, PPP
Malta
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ecuador Malta
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,875 $15,840 $43,899 $69,864
2023 $6,738 $15,919 $40,906 $67,057
2022 $6,516 $15,198 $35,639 $60,589
2021 $6,061 $13,507 $38,097 $56,852
2020 $5,464 $11,527 $31,823 $49,972
2019 $6,205 $12,543 $32,422 $51,393
2018 $6,304 $12,187 $33,382 $48,178
2017 $6,233 $11,793 $30,317 $45,764
2016 $5,918 $10,881 $26,459 $41,000
2015 $5,976 $10,878 $25,530 $38,369
2014 $6,406 $11,836 $27,425 $35,206
2013 $6,109 $11,296 $25,416 $33,138
2012 $5,634 $10,245 $22,878 $30,716
2011 $5,154 $9,769 $23,517 $29,426
2010 $4,520 $8,969 $21,947 $28,909
2009 $4,053 $8,662 $21,176 $26,782
2008 $4,195 $8,663 $22,315 $26,654
2007 $3,479 $8,112 $19,444 $25,012
2006 $3,244 $7,885 $16,654 $23,219
2005 $2,909 $7,457 $15,831 $22,227
2004 $2,586 $6,980 $15,212 $21,566
2003 $2,316 $6,475 $13,594 $20,813
2002 $2,059 $6,282 $11,251 $19,532
2001 $1,791 $5,999 $10,358 $18,435
2000 $1,382 $5,728 $10,348 $18,214
1999 $1,575 $5,638 $10,609 $16,898
1998 $2,284 $5,940 $10,408 $16,219
1997 $2,341 $5,793 $9,893 $15,465
1996 $2,136 $5,560 $10,062 $14,661
1995 $2,108 $5,469 $9,828 $13,950
1994 $1,997 $5,339 $8,000 $12,938
1993 $1,698 $5,112 $7,296 $12,103
1992 $1,655 $4,998 $8,220 $11,429
1991 $1,587 $4,887 $7,559 $10,784
1990 $1,455 $4,632 $7,192 $10,086
1989 $1,356 - $6,041 -
1988 $1,304 - $5,814 -
1987 $1,426 - $5,084 -
1986 $1,604 - $4,195 -
1985 $1,842 - $3,322 -
1984 $1,864 - $3,333 -
1983 $1,940 - $3,527 -
1982 $2,314 - $3,788 -
1981 $2,601 - $3,898 -
1980 $2,190 - $3,948 -
1979 $1,783 - $3,196 -
1978 $1,541 - $2,559 -
1977 $1,465 - $2,038 -
1976 $1,242 - $1,727 -
1975 $1,086 - $1,560 -
1974 $954 - $1,245 -
1973 $579 - $1,144 -
1972 $488 - $976 -
1971 $434 - $874 -
1970 $465 - $828 -
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/malta | CC BY

Ecuador's GDP per capita is $6,875, ranking 103/197, compared to $43,899 in Malta, ranking 28/197. Adjusted for purchasing power (GDP per capita PPP), Ecuador ranks 110th at $15,840, while Malta ranks 25th at $69,864.

Economic indicators

Ecuador Malta
Gross domestic product
$125B
2024
$25B
2024
GDP rank
62/197
2024
119/197
2024
GDP growth
-2%
2023-2024
6.8%
2023-2024
GDP per capita
$6,875
2024
$43,899
2024
GDP per capita rank
103/197
2024
28/197
2024
GDP per capita, PPP
$15,840
2024
$69,864
2024
GDP per capita PPP rank
110/197
2024
25/197
2024
Government debt
$67B
2024
$11.5B
2024
Debt-to-GDP ratio
53.8%
2024
46.2%
2024
Government debt per person
$3,695
2024
$20,269
2024
Government debt per person rank
93/185
2024
31/185
2024
Average annual personal income after taxes
$5,894
2026
$23,692
2026
Market capitalization of domestic companies
$747M
2000
$4.29B
2024
Income share by richest 10%
33.4%
2024
27.7%
2022
Income share by poorest 10%
1.5%
2024
2.7%
2022
Government expenditure, % of GDP
38.1%
2024
37.3%
2024
Consumer prices inflation
1.55%
2023-2024
1.65%
2023-2024
Unemployment rate
3.39%
2024
3.12%
2024
Population
18487749
581729

Spending and national debt comparison by year

Ecuador
Spending

Debt
Malta
Spending

Debt
1x
Year % of GDP
Ecuador Malta
Government spending Government debt Government spending Government debt
2024 38.1% 53.8% 37.3% 46.2%
2023 39.5% 54.3% 36.1% 46.8%
2022 38.9% 57.2% 38.3% 50.1%
2021 37.5% 61.8% 39.4% 49.6%
2020 40.2% 63.6% 42.1% 48.6%
2019 39.8% 52.1% 34.9% 39.2%
2018 40.9% 49.5% 34.5% 41.4%
2017 40.5% 47.4% 32.7% 45.6%
2016 44.1% 46.1% 35.5% 53.1%
2015 44.1% 36.4% 37.8% 55%
2014 45.9% 28.2% 39.6% 60.7%
2013 46.7% 23.4% 40.1% 64.9%
2012 43.2% 19.3% 41.7% 65.6%
2011 39.6% 18.6% 41.5% 68.9%
2010 35.4% 18.4% 40.1% 65%
2009 34.3% 19.7% 41.1% 66%
2008 35.6% 24.9% 42.1% 61.5%
2007 24.7% 29.6% 41.2% 62%
2006 21.7% 33.1% 42.5% 64.5%
2005 22% 35.8% 42.5% 70.2%
2004 21.3% 40.2% 42% 70.4%
2003 21.3% 47.2% 45.6% 68.6%
2002 22.8% 55% 43.6% 65.1%
2001 21.4% 63.8% 44.4% 70%
2000 24.3% 92.2% 42.9% 64.4%
1999 24.1% 105.2% - 69.8%
1998 21.5% 70.3% - 66.4%
1997 22% 61.5% - 60.8%
1996 22.7% 69.3% - 51.5%
1995 22% 70.5% - 45.3%

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

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

In 2024, Ecuador's government spending was $47.5B, accounting for 38.1% of its GDP, while Malta spent $9.32B, or 37.3% of GDP.

Debt-to-GDP ratio is 53.8% in Ecuador and 46.2% in Malta, ranking 98/185 and 118/185, respectively.

Government deficit by year

Deficit/surplus
Ecuador

Malta
1x
Year Deficit/surplus, % of GDP
Ecuador Malta
2024 -1.28% -3.58%
2023 -3.48% -4.65%
2022 0.04% -5.31%
2021 -1.59% -6.95%
2020 -7.38% -8.72%
2019 -3.47% 0.72%
2018 -2.8% 1.86%
2017 -5.77% 3.4%
2016 -10.3% 1.1%
2015 -6.87% -0.84%
2014 -8.11% -1.49%
2013 -8.17% -2.19%
2012 -2.83% -3.31%
2011 -0.13% -2.99%
2010 -1.39% -2.22%
2009 -3.71% -3.11%
2008 0.57% -4.06%
2007 2.66% -2.05%
2006 2.92% -2.46%
2005 0.66% -2.83%
2004 1.94% -4.28%
2003 1.05% -9.04%
2002 0.74% -5.62%
2001 0.03% -6.5%
2000 -0.32% -5.83%
1999 -4.82% -
1998 -5.1% -
1997 -2.83% -
1996 -3.44% -
1995 -2.02% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20).

GeoRank.org/economy/ecuador/malta | 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 Malta's deficit of $893M, or 3.58% of GDP.

Over the past 25 years, Ecuador recorded a fiscal deficit in 16 of those years, while Malta ran a deficit in 21 years. On average, Ecuador posted an annual deficit equal to 2.28% of GDP, compared to deficit of 3.24% of GDP for Malta.

Inflation comparison by year

Inflation
Ecuador

Malta
1x
Year Consumer prices inflation
Ecuador Malta
2024 1.55% 1.65%
2023 2.22% 5.09%
2022 3.47% 6.15%
2021 0.13% 1.5%
2020 -0.34% 0.64%
2019 0.27% 1.64%
2018 -0.22% 1.16%
2017 0.42% 1.36%
2016 1.73% 0.64%
2015 3.97% 1.1%
2014 3.59% 0.31%
2013 2.72% 1.18%
2012 5.1% 2.38%
2011 4.47% 2.96%
2010 3.55% 1.52%
2009 5.16% 2.08%
2008 8.4% 4.26%
2007 2.28% 1.25%
2006 3.3% 2.77%
2005 2.17% 3.01%
2004 2.74% 2.79%
2003 7.93% 1.3%
2002 12.5% 2.19%
2001 37.7% 2.93%
2000 96.1% 2.37%
1999 52.2% 2.13%
1998 36.1% 2.39%
1997 30.7% 3.11%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Ecuador has recorded an average annual inflation rate of 11.8%, compared with 2.21% in Malta. In 2024, inflation was 1.55% in Ecuador and 1.65% in Malta.

Top exports between countries

Ecuador
Export category Export value
Raw agricultural goods $20.5M
Processed food, beverages & tobacco $3.39M
Animal & marine products $59K
Machinery & equipment $55K
Textiles & consumer goods $7K
Wood & paper products $1K
Malta
Export category Export value
Chemicals & pharma $102K
Processed food, beverages & tobacco $99K
Machinery & equipment $13K
Textiles & consumer goods $1K

Balance of trade

Ecuador Malta
Current account balance
$7.06B
2024
$1.78B
2024
Current account balance ranking
27/190
2024
47/190
2024
Current account balance, % of GDP
+5.66%
2024
+7.12%
2024
Goods imports
$27.9B
2024
$7.56B
2024
Goods exports
$34.7B
2024
$4.58B
2024
Service imports
$6.18B
2024
$17.4B
2024
Service exports
$3.86B
2024
$25B
2024
Imports of goods and services, % of GDP
26.9%
2024
99.7%
2024
Exports of goods and services, % of GDP
30.3%
2024
118.5%
2024

Economic freedom indices

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

Ecuador Malta
Economic freedom 55.6 68.2
Economic freedom ranking 127/197 49/197
Property rights 33.2 85.5
Government integrity 33 54.3
Judicial effectiveness 48.1 80.2
Tax burden 74.2 68.5
Government spending 54.9 58.4
Fiscal health 90.3 63.2
Business freedom 64.3 83.2
Labor freedom 56.9 62.6
Monetary freedom 76.3 73.1
Trade freedom 66.4 79.4
Investment freedom 30 60
Financial freedom 40 50

Economic freedom comparison by year

Ecuador
Malta
1x
Year Economic freedom index
Ecuador Malta
2026 55.6 68.2
2025 55.8 66.8
2024 55 64.5
2023 55 67.5
2022 54.3 71.5
2021 52.4 70.2
2020 51.3 69.5
2019 46.9 68.6
2018 48.5 68.5
2017 49.3 67.7
2016 48.6 66.7
2015 49.2 66.5
2014 48 66.4
2013 46.9 67.5
2012 48.3 67
2011 47.1 65.7
2010 49.3 67.2
2009 52.5 66.1
2008 55.2 66
2007 55.3 66.1
2006 54.6 67.3
2005 52.9 68.9
2004 54.4 63.3
2003 54.1 61.1
2002 53.1 62.2
2001 55.1 62.9
2000 59.8 58.3
1999 62.9 59.3
1998 62.8 61.2
1997 61 57.9
1996 60.1 55.8
1995 57.7 56.3

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

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

The Economic Freedom Index for Ecuador is 55.6, ranking 127/197, compared to 68.2 for Malta, ranking 49/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Ecuador Malta
Services, % of GDP
57.2%
2024
81.8%
2024
Industry, % of GDP
26.5%
2024
10.7%
2024
Agriculture, forestry, and fishing, % of GDP
9.48%
2024
0.23%
2024
GNI, Atlas method
$117B
2024
$20.9B
2024
GNI per capita, PPP
$15,410
2024
$61,340
2024
Total reserves including gold
$6.91B
2024
$1.42B
2024
Total reserves ranking
87/177
2024
137/177
2024
Net foreign direct investment
-$438M
2024
-$6.13B
2024
Net inflows of foreign direct investment
$443M
2024
$42.6B
2024
Net outflows of foreign direct investment
$0
2024
$36.5B
2024
Servicing debt to the IMF, % of GNI
7%
2024
n/a
Poverty at national poverty lines
28%
2024
16.7%
2021
Gross capital formation, % of GDP
18.5%
2024
19%
2024

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/malta | 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 (1995–2024, 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. TradeMap (2020–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1995–2000, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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.