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Economy of Estonia vs Kenya compared: GDP & Debt

Updated on by Georank team

Estonia has a GDP of $43.1B compared to $120B for Kenya, ranking 100/197 and 64/197 by economy size, respectively.

Estonia has $10.1B in government debt (23.4% of GDP), compared to $81B (67.3% of GDP) in Kenya.

Estonia vs Kenya GDP by year

Estonia
Kenya
1x
Year GDP, current $
Estonia Kenya
2024 $43,130,419,829 $120,339,557,906
2023 $41,470,344,395 $107,500,884,685
2022 $38,226,641,740 $114,448,978,153
2021 $37,201,101,171 $109,703,658,905
2020 $31,820,771,494 $100,657,505,751
2019 $31,873,748,770 $100,378,436,207
2018 $31,222,632,741 $92,202,979,985
2017 $27,469,461,919 $82,036,510,877
2016 $24,561,027,788 $74,815,144,164
2015 $23,311,847,751 $70,120,446,897
2014 $27,055,689,003 $68,285,796,514
2013 $25,451,032,781 $61,671,440,408
2012 $23,237,406,116 $56,396,704,672
2011 $23,303,915,795 $46,869,473,151
2010 $19,524,355,419 $45,405,615,064
2009 $19,633,984,440 $42,347,217,913
2008 $24,342,935,404 $35,895,153,328
2007 $22,450,264,166 $31,958,195,182
2006 $17,025,671,810 $25,825,512,284
2005 $14,109,491,357 $18,737,895,513
2004 $12,148,595,031 $16,095,337,094
2003 $9,876,595,528 $14,904,517,650
2002 $7,370,119,619 $13,147,736,899
2001 $6,250,218,423 $12,986,007,426
2000 $5,686,579,748 $12,705,350,098
1999 $5,756,912,266 $12,896,010,459
1998 $5,674,080,543 $14,093,998,844
1997 $5,154,420,649 $13,115,764,358
1996 $4,786,018,988 $12,045,865,396
1995 $4,502,970,889 $9,046,320,255
1994 $4,123,011,420 $7,148,148,564
1993 $4,013,091,682 $5,751,786,643
1992 - $8,209,120,763
1991 - $8,151,488,783
1990 - $8,572,359,038
1989 - $8,283,114,514
1988 - $8,355,380,879
1987 - $7,970,820,369
1986 - $7,239,126,568
1985 - $6,135,034,214
1984 - $6,191,437,070
1983 - $5,979,198,314
1982 - $6,431,579,357
1981 - $6,854,491,706
1980 - $7,265,315,820
1979 - $6,234,391,113
1978 - $5,303,735,111
1977 - $4,494,378,764
1976 - $3,474,542,392
1975 - $3,259,345,083
1974 - $2,969,958,812
1973 - $2,509,001,324
1972 - $2,107,279,157
1971 - $1,778,391,289
1970 - $1,603,447,359
1969 - $1,458,379,417
1968 - $1,353,295,459
1967 - $1,232,559,507
1966 - $1,164,519,674
1965 - $997,919,321
1964 - $998,759,334
1963 - $926,589,349
1962 - $868,111,401
1961 - $792,959,473
1960 - $791,265,459

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

GeoRank.org/economy/estonia/kenya | CC BY

GDP per capita in Estonia vs Kenya by year

Estonia
GDP per capita

GDP per capita, PPP
Kenya
GDP per capita

GDP per capita, PPP
1x
Year Current $
Estonia Kenya
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $31,428 $49,969 $2,132 $6,644
2023 $30,264 $48,637 $1,943 $6,317
2022 $28,340 $48,218 $2,110 $5,883
2021 $27,951 $44,252 $2,061 $5,339
2020 $23,934 $40,672 $1,928 $4,793
2019 $24,021 $40,586 $1,960 $4,687
2018 $23,618 $37,121 $1,836 $4,412
2017 $20,852 $34,507 $1,667 $4,177
2016 $18,666 $31,948 $1,554 $3,917
2015 $17,722 $29,713 $1,489 $3,678
2014 $20,582 $29,404 $1,483 $3,359
2013 $19,310 $27,831 $1,371 $3,106
2012 $17,568 $26,243 $1,285 $2,847
2011 $17,556 $24,652 $1,096 $2,750
2010 $14,664 $21,614 $1,092 $2,635
2009 $14,712 $20,489 $1,048 $2,480
2008 $18,206 $22,804 $916 $2,459
2007 $16,745 $22,201 $840 $2,481
2006 $12,641 $19,344 $700 $2,330
2005 $10,415 $16,638 $523 $2,189
2004 $8,916 $14,538 $464 $2,066
2003 $7,205 $13,135 $443 $1,975
2002 $5,343 $11,667 $403 $1,940
2001 $4,503 $10,309 $411 $1,961
2000 $4,071 $9,425 $415 $1,907
1999 $4,141 $8,412 $434 $1,910
1998 $4,093 $8,451 $488 $1,895
1997 $3,683 $7,980 $467 $1,865
1996 $3,381 $6,892 $441 $1,875
1995 $3,134 $6,480 $340 $1,818
1994 $2,819 $5,967 $276.4 $1,754
1993 $2,686 $5,814 $229 $1,723
1992 - $5,872 $337 $1,728
1991 - $7,151 $345 $1,756
1990 - $7,481 $374 $1,729
1989 - - $374 -
1988 - - $391 -
1987 - - $387 -
1986 - - $364 -
1985 - - $320 -
1984 - - $334 -
1983 - - $335 -
1982 - - $374 -
1981 - - $413 -
1980 - - $454 -
1979 - - $403 -
1978 - - $355 -
1977 - - $311 -
1976 - - $248.9 -
1975 - - $241.2 -
1974 - - $227.2 -
1973 - - $198.6 -
1972 - - $172.6 -
1971 - - $150.9 -
1970 - - $141 -
1969 - - $133.3 -
1968 - - $128.7 -
1967 - - $121.9 -
1966 - - $119.8 -
1965 - - $106.9 -
1964 - - $111.3 -
1963 - - $107.4 -
1962 - - $104.6 -
1961 - - $99.3 -
1960 - - $102.8 -

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

GeoRank.org/economy/estonia/kenya | CC BY

Estonia's GDP per capita is $31,428, ranking 40/197, compared to $2,132 in Kenya, ranking 154/197. Adjusted for purchasing power (GDP per capita PPP), Estonia ranks 45th at $49,969, while Kenya ranks 149th at $6,644.

Economic indicators

Estonia Kenya
Gross domestic product
$43.1B
2024
$120B
2024
GDP rank
100/197
2024
64/197
2024
GDP growth
-0.09%
2023-2024
4.72%
2023-2024
GDP per capita
$31,428
2024
$2,132
2024
GDP per capita rank
40/197
2024
154/197
2024
GDP per capita, PPP
$49,969
2024
$6,644
2024
GDP per capita PPP rank
45/197
2024
149/197
2024
Government debt
$10.1B
2024
$81B
2024
Debt-to-GDP ratio
23.4%
2024
67.3%
2024
Government debt per person
$7,356
2024
$1,436
2024
Government debt per person rank
65/185
2024
133/185
2024
Average annual personal income after taxes
$23,740
2026
$3,229
2026
Market capitalization of domestic companies n/a
$15B
2024
Number of billionaires
2
2025
n/a
Income share by richest 10%
23.7%
2023
30.1%
2022
Income share by poorest 10%
3.1%
2023
2.9%
2022
Government expenditure, % of GDP
43.6%
2024
23.3%
2024
Consumer prices inflation
3.52%
2023-2024
4.49%
2023-2024
Central bank interest rate n/a
9.25%
2025
Unemployment rate
7.5%
2024
5.44%
2022
Population
1339590
58955623

Spending and national debt comparison by year

Estonia
Spending

Debt
Kenya
Spending

Debt
1x
Year % of GDP
Estonia Kenya
Government spending Government debt Government spending Government debt
2024 43.6% 23.4% 23.3% 67.3%
2023 43.5% 20.1% 22.7% 73.4%
2022 40.1% 19.2% 23.2% 67.8%
2021 42.1% 18.4% 24% 68.2%
2020 44.7% 19.1% 24.8% 68%
2019 39.1% 9.05% 24.4% 59.1%
2018 38.8% 8.51% 24.5% 56.4%
2017 38.9% 9.43% 25.2% 53.9%
2016 38.9% 10.2% 25.4% 50.4%
2015 39.3% 10.8% 23.8% 45.8%
2014 37.6% 11.6% 23.4% 41.3%
2013 38.3% 11.4% 23.2% 39.8%
2012 39.4% 11.1% 22.1% 37.6%
2011 37.6% 7.6% 20.1% 35.7%
2010 40.7% 7.99% 21.5% 36.7%
2009 46.1% 7.98% 20.3% 36%
2008 39.5% 4.67% 18.9% 34.3%
2007 33.8% 3.91% 18.1% 34.2%
2006 33.5% 4.72% 17.3% 37.1%
2005 33.7% 4.73% 16.2% 37.4%
2004 34.1% 5.16% 15.4% 40.8%
2003 35% 5.6% 16% 43.8%
2002 35.9% 5.66% 15.7% 42%
2001 35.3% 4.93% 14.9% 41.3%
2000 36.4% 5.11% 14.1% 43.1%
1999 40.7% 5.93% 13.7% 38.4%
1998 38.9% 5.4% 15.3% 38.5%
1997 35.8% 6.03% 15.6% 36%
1996 38.6% 7.3% 15.2% 40.5%
1995 39.5% 8.66% 17.3% 52.1%
1994 - - 18.8% 57%
1993 - - 18.9% 61.6%
1992 - - 17.6% 41.2%
1991 - - 16.4% 43%
1990 - - 17.2% 37.6%
1989 - - 16.3% 33.4%
1988 - - 15.9% 33.9%
1987 - - 15.5% 36.3%
1986 - - 15.3% 31.3%
1985 - - 15.6% 28.8%
1984 - - 14.9% 25.6%
1983 - - 14.6% 26.1%
1982 - - 16.2% 26.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1997, retrieved 2026-02-20).

GeoRank.org/economy/estonia/kenya | CC BY

In 2024, Estonia's government spending was $18.8B, accounting for 43.6% of its GDP, while Kenya spent $28B, or 23.3% of GDP.

Debt-to-GDP ratio is 23.4% in Estonia and 67.3% in Kenya, ranking 171/185 and 64/185, respectively.

Government deficit by year

Deficit/surplus
Estonia

Kenya
1x
Year Deficit/surplus, % of GDP
Estonia Kenya
2024 -1.51% -5.77%
2023 -3.13% -5.71%
2022 -1.08% -6.06%
2021 -2.57% -7.2%
2020 -5.42% -8.13%
2019 -0.11% -7.42%
2018 -1.15% -6.94%
2017 -1.07% -7.4%
2016 -0.62% -7.47%
2015 -0.24% -6.68%
2014 0.42% -5.75%
2013 -0.66% -5.25%
2012 -0.86% -5.29%
2011 0.09% -3.64%
2010 -1.09% -3.67%
2009 -3.43% -3.12%
2008 -2.92% -1.95%
2007 2.5% -0.95%
2006 2.71% -0.43%
2005 1.07% -0.19%
2004 2.29% 0.5%
2003 1.67% -0.73%
2002 0.29% -1.29%
2001 0.4% -0.53%
2000 -0.11% 0.38%
1999 -3.42% 0.84%
1998 0.65% -0.03%
1997 2.98% -0.91%
1996 -0.93% -0.49%
1995 -0.26% -0.23%
1994 - -4.14%
1993 - -8.57%
1992 - -8.28%
1991 - -6.56%
1990 - -3.28%
1989 - -2.39%
1988 - -1.97%
1987 - -2.27%
1986 - -2.98%
1985 - -3.05%
1984 - -2.55%
1983 - -2.17%
1982 - -3.07%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20).

GeoRank.org/economy/estonia/kenya | CC BY

In 2024, Estonia's government deficit, the difference between spending and revenue, was $651M, equivalent to 1.51% of GDP. This compares to Kenya's deficit of $6.94B, or 5.77% of GDP.

Over the past 30 years, Estonia recorded a fiscal deficit in 19 of those years, while Kenya ran a deficit in 27 years. On average, Estonia posted an annual deficit equal to 0.52% of GDP, compared to deficit of 3.38% of GDP for Kenya.

Inflation comparison by year

Inflation
Estonia

Kenya
1x
Year Consumer prices inflation
Estonia Kenya
2024 3.52% 4.49%
2023 9.16% 7.67%
2022 19.4% 7.66%
2021 4.65% 6.11%
2020 -0.44% 5.41%
2019 2.28% 5.24%
2018 3.44% 4.69%
2017 3.42% 8.01%
2016 0.15% 6.3%
2015 -0.49% 6.58%
2014 -0.11% 6.88%
2013 2.78% 5.72%
2012 3.93% 9.38%
2011 4.98% 14%
2010 2.97% 3.96%
2009 -0.08% 9.23%
2008 10.4% 26.2%
2007 6.6% 9.76%
2006 4.44% 14.5%
2005 4.08% 10.3%
2004 3.05% 11.6%
2003 1.33% 9.82%
2002 3.57% 1.96%
2001 5.75% 5.74%
2000 4.02% 9.98%
1999 3.3% 5.74%
1998 8.21% 6.72%
1997 10.6% 11.4%

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

GeoRank.org/economy/estonia/kenya | CC BY

Over the past 28 years, Estonia has recorded an average annual inflation rate of 4.46%, compared with 8.39% in Kenya. In 2024, inflation was 3.52% in Estonia and 4.49% in Kenya.

Top exports between countries

Estonia
Export category Export value
Raw agricultural goods $10.5M
Wood & paper products $837K
Processed food, beverages & tobacco $573K
Textiles & consumer goods $330K
Machinery & equipment $286K
Raw materials & minerals $97K
Metals $84K
Chemicals & pharma $25K
Animal & marine products $5K
Miscellaneous $1K
Kenya
Export category Export value
Raw agricultural goods $1.18M
Textiles & consumer goods $57K

Balance of trade

Estonia Kenya
Current account balance
-$543M
2024
-$1.55B
2024
Current account balance ranking
107/190
2024
134/190
2024
Current account balance, % of GDP
-1.26%
2024
-1.29%
2024
Goods imports
$22.1B
2024
$22.2B
2024
Goods exports
$19B
2024
$12.5B
2024
Service imports
$10.4B
2024
$5.64B
2024
Service exports
$13.6B
2024
$8.04B
2024
Imports of goods and services, % of GDP
75.4%
2024
23.1%
2024
Exports of goods and services, % of GDP
75.7%
2024
17.1%
2024

Economic freedom indices

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

Estonia Kenya
Economic freedom 78.7 55.5
Economic freedom ranking 10/197 128/197
Property rights 93.6 40.2
Government integrity 86.3 32.7
Judicial effectiveness 92.4 47
Tax burden 77.9 76.3
Government spending 46 84.1
Fiscal health 93.1 36.2
Business freedom 82.8 61.5
Labor freedom 59 56.5
Monetary freedom 73.9 75.1
Trade freedom 79.4 52
Investment freedom 90 55
Financial freedom 70 50

Economic freedom comparison by year

Estonia
Kenya
1x
Year Economic freedom index
Estonia Kenya
2026 78.7 55.5
2025 78.9 54.8
2024 77.8 53.6
2023 78.6 52.5
2022 80 52.6
2021 78.2 54.9
2020 77.7 55.3
2019 76.6 55.1
2018 78.8 54.7
2017 79.1 53.5
2016 77.2 57.5
2015 76.8 55.6
2014 75.9 57.1
2013 75.3 55.9
2012 73.2 57.5
2011 75.2 57.4
2010 74.7 57.5
2009 76.4 58.7
2008 77.9 59.3
2007 78 59.6
2006 74.9 59.7
2005 75.2 57.9
2004 77.4 57.7
2003 77.7 58.6
2002 77.6 58.2
2001 76.1 57.6
2000 69.9 59.7
1999 73.8 58.2
1998 72.5 58.4
1997 69.1 60.1
1996 65.4 56.4
1995 65.2 54.5

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

GeoRank.org/economy/estonia/kenya | CC BY

The Economic Freedom Index for Estonia is 78.7, ranking 10/197, compared to 55.5 for Kenya, ranking 128/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Estonia Kenya
Services, % of GDP
65.7%
2024
55.3%
2024
Industry, % of GDP
20.1%
2024
16.5%
2024
Agriculture, forestry, and fishing, % of GDP
1.77%
2024
22.5%
2024
GNI, Atlas method
$39.6B
2024
$118B
2024
GNI per capita, PPP
$48,880
2024
$6,540
2024
Total reserves including gold
$2.07B
2024
$10.1B
2024
Total reserves ranking
125/177
2024
75/177
2024
Net foreign direct investment
-$285M
2024
-$45.8M
2024
Net inflows of foreign direct investment
-$3.44B
2024
$463M
2024
Net outflows of foreign direct investment
-$3.72B
2024
$418M
2024
Servicing debt to the IMF, % of GNI n/a
4.79%
2024
Poverty at national poverty lines
22.5%
2022
39.8%
2022
Gross capital formation, % of GDP
24.6%
2024
16.8%
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/estonia/kenya | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1982–1997, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2020–2024, retrieved 2026-02-08)
  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.