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Economy of Estonia vs Sri Lanka compared: GDP & Debt

Updated on by Georank team

Estonia has a GDP of $43.1B compared to $99B for Sri Lanka, ranking 100/197 and 72/197 by economy size, respectively.

Estonia has $10.1B in government debt (23.4% of GDP), compared to $99.8B (100.8% of GDP) in Sri Lanka.

Estonia vs Sri Lanka GDP by year

Estonia
Sri Lanka
1x
Year GDP, current $
Estonia Sri Lanka
2024 $43,130,419,829 $98,963,185,510
2023 $41,470,344,395 $83,716,142,582
2022 $38,226,641,740 $74,143,020,263
2021 $37,201,101,171 $88,556,698,938
2020 $31,820,771,494 $84,335,574,582
2019 $31,873,748,770 $88,998,706,297
2018 $31,222,632,741 $94,450,015,983
2017 $27,469,461,919 $94,369,350,286
2016 $24,561,027,788 $88,000,211,172
2015 $23,311,847,751 $85,090,301,052
2014 $27,055,689,003 $82,531,125,191
2013 $25,451,032,781 $76,976,203,829
2012 $23,237,406,116 $70,447,217,164
2011 $23,303,915,795 $67,753,285,897
2010 $19,524,355,419 $58,636,049,434
2009 $19,633,984,440 $42,066,224,093
2008 $24,342,935,404 $40,713,826,215
2007 $22,450,264,166 $32,350,238,760
2006 $17,025,671,810 $28,267,410,543
2005 $14,109,491,357 $24,405,791,045
2004 $12,148,595,031 $20,662,525,941
2003 $9,876,595,528 $18,881,765,437
2002 $7,370,119,619 $16,536,535,647
2001 $6,250,218,423 $15,749,753,805
2000 $5,686,579,748 $16,595,882,819
1999 $5,756,912,266 $15,711,933,513
1998 $5,674,080,543 $15,760,736,956
1997 $5,154,420,649 $15,091,913,884
1996 $4,786,018,988 $13,897,738,375
1995 $4,502,970,889 $13,029,697,561
1994 $4,123,011,420 $11,717,604,209
1993 $4,013,091,682 $10,338,679,636
1992 - $9,703,011,636
1991 - $9,000,362,582
1990 - $8,032,551,173
1989 - $6,987,267,684
1988 - $6,978,371,581
1987 - $6,682,167,120
1986 - $6,405,210,564
1985 - $5,978,460,972
1984 - $6,043,474,843
1983 - $5,167,913,302
1982 - $4,768,765,017
1981 - $4,415,844,156
1980 - $4,024,621,900
1979 - $3,364,611,432
1978 - $2,733,183,857
1977 - $4,104,509,583
1976 - $3,591,319,857
1975 - $3,791,298,146
1974 - $3,574,586,466
1973 - $2,875,625,000
1972 - $2,553,936,348
1971 - $2,369,308,600
1970 - $2,296,470,588
1969 - $1,965,546,218
1968 - $1,801,344,538
1967 - $1,859,465,021
1966 - $1,751,470,588
1965 - $1,698,319,328
1964 - $1,309,747,899
1963 - $1,240,672,269
1962 - $1,434,156,379
1961 - $1,444,327,731
1960 - $1,409,873,950

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

GeoRank.org/economy/estonia/sri-lanka | CC BY

GDP per capita in Estonia vs Sri Lanka by year

Estonia
GDP per capita

GDP per capita, PPP
Sri Lanka
GDP per capita

GDP per capita, PPP
1x
Year Current $
Estonia Sri Lanka
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $31,428 $49,969 $4,516 $15,633
2023 $30,264 $48,637 $3,799 $14,456
2022 $28,340 $48,218 $3,343 $14,194
2021 $27,951 $44,252 $3,997 $14,316
2020 $23,934 $40,672 $3,848 $12,941
2019 $24,021 $40,586 $4,082 $14,113
2018 $23,618 $37,121 $4,359 $14,178
2017 $20,852 $34,507 $4,399 $13,610
2016 $18,666 $31,948 $4,149 $13,079
2015 $17,722 $29,713 $4,058 $12,227
2014 $20,582 $29,404 $3,972 $11,721
2013 $19,310 $27,831 $3,739 $11,253
2012 $17,568 $26,243 $3,328 $10,249
2011 $17,556 $24,652 $3,225 $9,076
2010 $14,664 $21,614 $2,808 $8,234
2009 $14,712 $20,489 $2,027 $7,576
2008 $18,206 $22,804 $1,974 $7,317
2007 $16,745 $22,201 $1,579 $6,820
2006 $12,641 $19,344 $1,389 $6,261
2005 $10,415 $16,638 $1,207 $5,679
2004 $8,916 $14,538 $1,029 $5,216
2003 $7,205 $13,135 $946 $4,850
2002 $5,343 $11,667 $835 $4,522
2001 $4,503 $10,309 $804 $4,328
2000 $4,071 $9,425 $860 $4,368
1999 $4,141 $8,412 $829 $4,103
1998 $4,093 $8,451 $848 $3,952
1997 $3,683 $7,980 $827 $3,804
1996 $3,381 $6,892 $776 $3,582
1995 $3,134 $6,480 $742 $3,454
1994 $2,819 $5,967 $678 $3,260
1993 $2,686 $5,814 $607 $3,067
1992 - $5,872 $580 $2,851
1991 - $7,151 $546 $2,713
1990 - $7,481 $491 $2,527
1989 - - $430 -
1988 - - $434 -
1987 - - $420 -
1986 - - $407 -
1985 - - $385 -
1984 - - $391 -
1983 - - $336 -
1982 - - $312 -
1981 - - $292.5 -
1980 - - $271.1 -
1979 - - $230.8 -
1978 - - $191 -
1977 - - $292.1 -
1976 - - $260.3 -
1975 - - $279.8 -
1974 - - $268.7 -
1973 - - $220.2 -
1972 - - $199.4 -
1971 - - $188.8 -
1970 - - $186.9 -
1969 - - $163.6 -
1968 - - $153.5 -
1967 - - $162.3 -
1966 - - $156.6 -
1965 - - $155.6 -
1964 - - $122.9 -
1963 - - $119.4 -
1962 - - $141.4 -
1961 - - $145.9 -
1960 - - $145.9 -

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

GeoRank.org/economy/estonia/sri-lanka | CC BY

Estonia's GDP per capita is $31,428, ranking 40/197, compared to $4,516 in Sri Lanka, ranking 124/197. Adjusted for purchasing power (GDP per capita PPP), Estonia ranks 45th at $49,969, while Sri Lanka ranks 111th at $15,633.

Economic indicators

Estonia Sri Lanka
Gross domestic product
$43.1B
2024
$99B
2024
GDP rank
100/197
2024
72/197
2024
GDP growth
-0.09%
2023-2024
5.01%
2023-2024
GDP per capita
$31,428
2024
$4,516
2024
GDP per capita rank
40/197
2024
124/197
2024
GDP per capita, PPP
$49,969
2024
$15,633
2024
GDP per capita PPP rank
45/197
2024
111/197
2024
Government debt
$10.1B
2024
$99.8B
2024
Debt-to-GDP ratio
23.4%
2024
100.8%
2024
Government debt per person
$7,356
2024
$4,554
2024
Government debt per person rank
65/185
2024
85/185
2024
Average annual personal income after taxes
$23,740
2026
$2,874
2026
Market capitalization of domestic companies n/a
$19.5B
2024
Number of billionaires
2
2025
n/a
Income share by richest 10%
23.7%
2023
30.8%
2019
Income share by poorest 10%
3.1%
2023
3.1%
2019
Government expenditure, % of GDP
43.6%
2024
19.3%
2024
Consumer prices inflation
3.52%
2023-2024
-0.43%
2023-2024
Central bank interest rate n/a
7.75%
2025
Unemployment rate
7.5%
2024
4.67%
2023
Population
1339590
22185425

Spending and national debt comparison by year

Estonia
Spending

Debt
Sri Lanka
Spending

Debt
1x
Year % of GDP
Estonia Sri Lanka
Government spending Government debt Government spending Government debt
2024 43.6% 23.4% 19.3% 100.8%
2023 43.5% 20.1% 19.5% 110.4%
2022 40.1% 19.2% 18.6% 115.9%
2021 42.1% 18.4% 20% 102.7%
2020 44.7% 19.1% 22.1% 96.9%
2019 39.1% 9.05% 19.5% 82.6%
2018 38.8% 8.51% 17.5% 83.6%
2017 38.9% 9.43% 17.9% 72.3%
2016 38.9% 10.2% 18.2% 75%
2015 39.3% 10.8% 19.3% 76.3%
2014 37.6% 11.6% 17.2% 69.6%
2013 38.3% 11.4% 16.6% 69.5%
2012 39.4% 11.1% 17.3% 67.5%
2011 37.6% 7.6% 19.1% 69.4%
2010 40.7% 7.99% 19.3% 68.7%
2009 46.1% 7.98% 21% 72.8%
2008 39.5% 4.67% 19.1% 68.8%
2007 33.8% 3.91% 19.9% 71.8%
2006 33.5% 4.72% 20.5% 74.3%
2005 33.7% 4.73% 20.1% 76.6%
2004 34.1% 5.16% 19.3% 86.5%
2003 35% 5.6% 19.3% 86.5%
2002 35.9% 5.66% 20.8% 96.3%
2001 35.3% 4.93% 22.4% 84.4%
2000 36.4% 5.11% 21.7% 79.2%
1999 40.7% 5.93% 20.5% 77.7%
1998 38.9% 5.4% 21.4% 74.2%
1997 35.8% 6.03% 21.4% 70.1%
1996 38.6% 7.3% 23.1% 76.2%
1995 39.5% 8.66% 24.8% 77.8%
1994 - - 24.1% 77.9%
1993 - - 23.2% 79.2%
1992 - - 23% 77.9%
1991 - - 26.4% 80.5%
1990 - - 25.4% 78.9%

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

GeoRank.org/economy/estonia/sri-lanka | CC BY

In 2024, Estonia's government spending was $18.8B, accounting for 43.6% of its GDP, while Sri Lanka spent $19.1B, or 19.3% of GDP.

Debt-to-GDP ratio is 23.4% in Estonia and 100.8% in Sri Lanka, ranking 171/185 and 23/185, respectively.

Government deficit by year

Deficit/surplus
Estonia

Sri Lanka
1x
Year Deficit/surplus, % of GDP
Estonia Sri Lanka
2024 -1.51% -5.64%
2023 -3.13% -8.32%
2022 -1.08% -10.2%
2021 -2.57% -11.7%
2020 -5.42% -13.4%
2019 -0.11% -7.52%
2018 -1.15% -4.96%
2017 -1.07% -5.1%
2016 -0.62% -5%
2015 -0.24% -6.64%
2014 0.42% -5.99%
2013 -0.66% -5%
2012 -0.86% -5.44%
2011 0.09% -6.01%
2010 -1.09% -6.73%
2009 -3.43% -8.33%
2008 -2.92% -5.93%
2007 2.5% -5.81%
2006 2.71% -5.91%
2005 1.07% -5.93%
2004 2.29% -6.32%
2003 1.67% -6.15%
2002 0.29% -6.9%
2001 0.4% -8.48%
2000 -0.11% -7.78%
1999 -3.42% -5.58%
1998 0.65% -6.79%
1997 2.98% -5.71%
1996 -0.93% -6.89%
1995 -0.26% -7.11%
1994 - -7.41%
1993 - -5.77%
1992 - -4.95%
1991 - -7.97%
1990 - -6.39%

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

GeoRank.org/economy/estonia/sri-lanka | 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 Sri Lanka's deficit of $5.58B, or 5.64% of GDP.

Over the past 30 years, Estonia recorded a fiscal deficit in 19 of those years, while Sri Lanka ran a deficit in 30 years. On average, Estonia posted an annual deficit equal to 0.52% of GDP, compared to deficit of 6.91% of GDP for Sri Lanka.

Inflation comparison by year

Inflation
Estonia

Sri Lanka
1x
Year Consumer prices inflation
Estonia Sri Lanka
2024 3.52% -0.43%
2023 9.16% 16.5%
2022 19.4% 49.7%
2021 4.65% 7.01%
2020 -0.44% 6.15%
2019 2.28% 3.53%
2018 3.44% 2.14%
2017 3.42% 7.7%
2016 0.15% 3.96%
2015 -0.49% 3.77%
2014 -0.11% 3.18%
2013 2.78% 6.91%
2012 3.93% 7.54%
2011 4.98% 6.72%
2010 2.97% 6.22%
2009 -0.08% 3.46%
2008 10.4% 22.6%
2007 6.6% 15.8%
2006 4.44% 10%
2005 4.08% 11.6%
2004 3.05% 7.58%
2003 1.33% 6.31%
2002 3.57% 9.55%
2001 5.75% 14.2%
2000 4.02% 6.18%
1999 3.3% 4.69%
1998 8.21% 9.36%
1997 10.6% 9.57%

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

GeoRank.org/economy/estonia/sri-lanka | CC BY

Over the past 28 years, Estonia has recorded an average annual inflation rate of 4.46%, compared with 9.34% in Sri Lanka. In 2024, inflation was 3.52% in Estonia and -0.43% in Sri Lanka.

Top exports between countries

Estonia
Export category Export value
Wood & paper products $1.81M
Machinery & equipment $163K
Textiles & consumer goods $97K
Raw materials & minerals $41K
Processed food, beverages & tobacco $30K
Metals $3K
Sri Lanka
Export category Export value
Textiles & consumer goods $3.44M
Chemicals & pharma $1.38M
Raw agricultural goods $877K
Raw materials & minerals $454K
Processed food, beverages & tobacco $90K
Machinery & equipment $55K
Metals $31K
Wood & paper products $20K
Miscellaneous $9K
Precious metals & jewellery $4K

Balance of trade

Estonia Sri Lanka
Current account balance
-$543M
2024
$1.21B
2024
Current account balance ranking
107/190
2024
53/190
2024
Current account balance, % of GDP
-1.26%
2024
+1.22%
2024
Goods imports
$22.1B
2024
$18.8B
2024
Goods exports
$19B
2024
$12.8B
2024
Service imports
$10.4B
2024
$3.48B
2024
Service exports
$13.6B
2024
$6.91B
2024
Imports of goods and services, % of GDP
75.4%
2024
22.5%
2024
Exports of goods and services, % of GDP
75.7%
2024
19.9%
2024

Economic freedom indices

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

Estonia Sri Lanka
Economic freedom 78.7 50.3
Economic freedom ranking 10/197 162/197
Property rights 93.6 47.3
Government integrity 86.3 37.3
Judicial effectiveness 92.4 47.2
Tax burden 77.9 77
Government spending 46 89
Fiscal health 93.1 0
Business freedom 82.8 60.1
Labor freedom 59 54.3
Monetary freedom 73.9 65.9
Trade freedom 79.4 65.6
Investment freedom 90 30
Financial freedom 70 30

Economic freedom comparison by year

Estonia
Sri Lanka
1x
Year Economic freedom index
Estonia Sri Lanka
2026 78.7 50.3
2025 78.9 49.4
2024 77.8 49.2
2023 78.6 52.2
2022 80 53.3
2021 78.2 55.7
2020 77.7 57.4
2019 76.6 56.4
2018 78.8 57.8
2017 79.1 57.4
2016 77.2 59.9
2015 76.8 58.6
2014 75.9 60
2013 75.3 60.7
2012 73.2 58.3
2011 75.2 57.1
2010 74.7 54.6
2009 76.4 56
2008 77.9 58.4
2007 78 59.4
2006 74.9 58.7
2005 75.2 61
2004 77.4 61.6
2003 77.7 62.5
2002 77.6 64
2001 76.1 66
2000 69.9 63.2
1999 73.8 64
1998 72.5 64.6
1997 69.1 65.5
1996 65.4 62.5
1995 65.2 60.6

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

GeoRank.org/economy/estonia/sri-lanka | CC BY

The Economic Freedom Index for Estonia is 78.7, ranking 10/197, compared to 50.3 for Sri Lanka, ranking 162/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Estonia Sri Lanka
Services, % of GDP
65.7%
2024
57.5%
2024
Industry, % of GDP
20.1%
2024
25.5%
2024
Agriculture, forestry, and fishing, % of GDP
1.77%
2024
8.3%
2024
GNI, Atlas method
$39.6B
2024
$84.6B
2024
GNI per capita, PPP
$48,880
2024
$15,240
2024
Total reserves including gold
$2.07B
2024
$6.09B
2024
Total reserves ranking
125/177
2024
92/177
2024
Net foreign direct investment
-$285M
2024
-$651M
2024
Net inflows of foreign direct investment
-$3.44B
2024
$761M
2024
Net outflows of foreign direct investment
-$3.72B
2024
$110M
2024
Servicing debt to the IMF, % of GNI n/a
4.98%
2024
Poverty at national poverty lines
22.5%
2022
14.3%
2019
Gross capital formation, % of GDP
24.6%
2024
27%
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/sri-lanka | 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. TradeMap (2022–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. 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.