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Economy of Ethiopia vs Kiribati compared: GDP & Debt

Updated on by Georank team

Ethiopia has a GDP of $150B compared to $308M for Kiribati, ranking 60/197 and 192/197 by economy size, respectively.

Ethiopia has $48.9B in government debt (32.7% of GDP), compared to $30.5M (9.92% of GDP) in Kiribati.

Ethiopia vs Kiribati GDP by year

Ethiopia
Kiribati
1x
Year GDP, current $
Ethiopia Kiribati
2024 $149,740,297,953 $307,862,564
2023 $135,874,093,202 $288,610,748
2022 $123,140,304,666 $270,040,453
2021 $109,070,960,372 $285,259,881
2020 $98,676,811,061 $220,898,020
2019 $91,834,517,113 $216,985,388
2018 $83,337,901,072 $233,514,717
2017 $76,366,081,767 $222,875,736
2016 $68,475,871,210 $206,467,819
2015 $62,103,418,182 $191,559,399
2014 $55,612,228,234 $200,287,282
2013 $47,648,276,605 $201,730,861
2012 $43,310,721,414 $207,001,546
2011 $31,952,763,089 $195,970,140
2010 $29,933,790,334 $165,458,433
2009 $32,437,389,116 $140,177,384
2008 $27,066,912,635 $147,017,895
2007 $19,707,616,773 $138,054,946
2006 $15,280,861,835 $112,338,353
2005 $12,401,139,454 $113,895,437
2004 $10,131,187,261 $104,085,892
2003 $8,623,691,300 $96,105,619
2002 $7,850,809,498 $74,743,869
2001 $8,231,326,016 $64,935,850
2000 $8,242,349,618 $74,910,527
1999 $7,892,973,532 $77,323,978
1998 $8,013,274,132 $74,905,706
1997 $8,803,539,988 $80,205,807
1996 $8,761,215,548 $81,456,854
1995 $7,855,205,207 $68,596,395
1994 $7,100,806,754 $67,055,334
1993 $9,051,043,870 $58,953,596
1992 $10,754,799,037 $61,491,369
1991 $13,799,799,324 $41,247,792
1990 $12,478,943,895 $36,534,295
1989 $11,762,932,007 $37,645,319
1988 $11,181,119,718 $38,278,810
1987 $10,790,001,558 $29,554,413
1986 $10,094,328,898 $25,993,009
1985 $9,717,392,687 $26,126,615
1984 $8,298,309,581 $34,394,167
1983 $8,781,664,427 $31,000,546
1982 $7,899,988,841 $32,742,713
1981 $7,507,663,567 $35,267,489
1980 $7,012,585,454 $33,157,723
1979 $6,586,048,398 $34,466,197
1978 $6,014,961,435 $36,563,965
1977 $5,651,840,585 $31,335,459
1976 $4,943,806,093 $33,246,817
1975 $4,577,047,854 $44,547,454
1974 $4,577,209,966 $69,256,489
1973 $4,070,570,550 $25,645,040
1972 $3,520,252,938 $15,314,346
1971 $3,224,280,835 $12,356,134
1970 $3,045,354,455 $11,560,877
1969 $2,768,987,372 -
1968 $2,619,948,865 -
1967 $2,461,762,003 -
1966 $2,324,466,416 -
1965 $2,159,998,591 -
1964 $1,984,129,186 -
1963 $1,825,058,828 -
1962 $1,747,566,307 -
1961 $1,680,859,514 -
1960 $1,610,511,694 -

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

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

GDP per capita in Ethiopia vs Kiribati by year

Ethiopia
GDP per capita

GDP per capita, PPP
Kiribati
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ethiopia Kiribati
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,134 $3,288 $2,289 $3,702
2023 $1,056 $3,061 $2,178 $3,486
2022 $982 $2,845 $2,070 $3,329
2021 $893 $2,588 $2,222 $3,020
2020 $830 $2,407 $1,752 $2,711
2019 $793 $2,242 $1,751 $2,763
2018 $740 $2,095 $1,913 $2,672
2017 $696 $2,005 $1,853 $2,562
2016 $642 $1,858 $1,743 $2,463
2015 $598 $1,633 $1,640 $2,311
2014 $550 $1,485 $1,737 $2,084
2013 $484 $1,253 $1,772 $2,049
2012 $452 $1,179 $1,844 $1,896
2011 $343 $1,098 $1,771 $1,786
2010 $331 $996 $1,522 $1,724
2009 $369 $899 $1,317 $1,718
2008 $316 $845 $1,411 $1,735
2007 $237.1 $770 $1,353 $1,792
2006 $189.3 $693 $1,123 $1,728
2005 $158.2 $625 $1,162 $1,617
2004 $133.2 $558 $1,083 $1,579
2003 $116.8 $493 $1,021 $1,578
2002 $109.6 $509 $810 $1,605
2001 $118.5 $509 $719 $1,591
2000 $122.3 $474 $845 $1,638
1999 $120.7 $450 $887 $1,526
1998 $126.5 $436 $874 $1,593
1997 $143.4 $461 $953 $1,535
1996 $147.3 $453 $986 $1,519
1995 $136.5 $409 $844 $1,518
1994 $127.7 $391 $838 $1,469
1993 $168.5 $384 $748 $1,431
1992 $207.4 $343 $792 $1,421
1991 $277.6 $383 $540 $1,139
1990 $262.1 $417 $488 $1,192
1989 $256.4 - $515 -
1988 $253.2 - $536 -
1987 $254.1 - $424 -
1986 $246 - $382 -
1985 $243.9 - $393 -
1984 $214.2 - $527 -
1983 $232.7 - $483 -
1982 $215.3 - $519 -
1981 $212.7 - $568 -
1980 $203.7 - $542 -
1979 $192.4 - $573 -
1978 $178.3 - $611 -
1977 $170.4 - $520 -
1976 $152 - $548 -
1975 $144.3 - $730 -
1974 $147.9 - $1,131 -
1973 $134.9 - $422 -
1972 $119.8 - $256.2 -
1971 $112.7 - $210.7 -
1970 $109.4 - $201 -
1969 $102.3 - - -
1968 $99.5 - - -
1967 $96.1 - - -
1966 $93.2 - - -
1965 $88.9 - - -
1964 $83.8 - - -
1963 $79.2 - - -
1962 $77.8 - - -
1961 $76.7 - - -
1960 $75.3 - - -

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

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

Ethiopia's GDP per capita is $1,134, ranking 171/197, compared to $2,289 in Kiribati, ranking 152/197. Adjusted for purchasing power (GDP per capita PPP), Ethiopia ranks 175th at $3,288, while Kiribati ranks 169th at $3,702.

Economic indicators

Ethiopia Kiribati
Gross domestic product
$150B
2024
$308M
2024
GDP rank
60/197
2024
192/197
2024
GDP growth
7.61%
2023-2024
5.27%
2023-2024
GDP per capita
$1,134
2024
$2,289
2024
GDP per capita rank
171/197
2024
152/197
2024
GDP per capita, PPP
$3,288
2024
$3,702
2024
GDP per capita PPP rank
175/197
2024
169/197
2024
Government debt
$48.9B
2024
$30.5M
2024
Debt-to-GDP ratio
32.7%
2024
9.92%
2024
Government debt per person
$370
2024
$226.9
2024
Government debt per person rank
172/185
2024
181/185
2024
Average annual personal income after taxes
$1,946
2026
$1,967
2026
Income share by richest 10%
24.8%
2021
22.8%
2019
Income share by poorest 10%
3.5%
2021
4%
2019
Government expenditure, % of GDP
9.54%
2024
98.1%
2024
Consumer prices inflation
21%
2023-2024
2.5%
2023-2024
Unemployment rate
3.94%
2021
2.79%
2023
Population
139917664
139020

Spending and national debt comparison by year

Ethiopia
Spending

Debt
Kiribati
Spending

Debt
1x
Year % of GDP
Ethiopia Kiribati
Government spending Government debt Government spending Government debt
2024 9.54% 32.7% 98.1% 9.92%
2023 10.8% 38.7% 95.3% 11.4%
2022 12.7% 46.9% 87.5% 16.3%
2021 13.8% 53.8% 84% 17.3%
2020 14.5% 53.7% 102.2% 21%
2019 15.4% 54.7% 108.3% 19%
2018 16.1% 58.4% 108.8% 19%
2017 18% 55.3% 92.1% 20.2%
2016 17.9% 51.8% 99% 21.2%
2015 17.3% 50.7% 90.9% 18.8%
2014 17.5% 44.2% 101.2% 8.97%
2013 17.8% 44.1% 78% 8.86%
2012 16.6% 39.4% 83.9% 8.13%
2011 18.2% 44.6% 80.9% 8.8%
2010 18.5% 39.4% 75.7% 9.43%
2009 17.1% 30% 74.7% 10.3%
2008 18.8% 56.1% 79.4% 13.9%
2007 20.5% 55.7% 77.3% 11.1%
2006 22.1% 79.6% 82.1% 12.9%
2005 22.9% 78.2% 95.6% 12.1%
2004 23.1% 103.1% 103.8% 13.6%
2003 27% 103.7% 84.4% 12.3%
2002 24.9% 107.4% 96.9% 13.3%
2001 22.4% 97.3% 101.3% 17%
2000 25.6% 93.6% 66% 12.7%
1999 25.8% 94.3% 77.6% 11.8%
1998 20.4% 86% 74.7% 9.81%
1997 17.3% 77.4% 70.9% 10.7%
1996 18.2% 129% 68.4% 11%
1995 16.9% 142.3% 69.6% 12.3%
1994 17.1% 150.7% 54.6% 12.3%
1993 13.4% 136.9% 55.3% 10.9%
1992 13.8% 85.4% 65.9% 7.31%
1991 16.8% 89.3% 82.1% 8.43%
1990 20.3% 91.6% 105.5% 7.72%
1989 24% 84.7% - -
1988 21.6% 84.3% - -
1987 18.4% 82.3% - -
1986 19.8% 75.7% - -
1985 19.7% 67.7% - -
1984 18.8% 65.4% - -
1983 21.3% 55.2% - -
1982 16.4% 48.8% - -
1981 14.2% 30.6% - -
1980 13.5% 18.5% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1991, retrieved 2026-02-20).

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

In 2024, Ethiopia's government spending was $14.3B, accounting for 9.54% of its GDP, while Kiribati spent $302M, or 98.1% of GDP.

Debt-to-GDP ratio is 32.7% in Ethiopia and 9.92% in Kiribati, ranking 150/185 and 180/185, respectively.

Government deficit by year

Deficit/surplus
Ethiopia

Kiribati
1x
Year Deficit/surplus, % of GDP
Ethiopia Kiribati
2024 -1.99% -22%
2023 -2.6% 0.13%
2022 -4.16% -18.3%
2021 -2.77% -10.8%
2020 -2.76% 3.57%
2019 -2.53% 10.8%
2018 -3.03% 5.18%
2017 -3.24% 34.1%
2016 -2.3% 20.1%
2015 -1.95% 42.5%
2014 -2.58% 35%
2013 -1.93% 11.8%
2012 -1.17% -5.43%
2011 -1.61% -17.6%
2010 -1.32% -7.8%
2009 -0.93% -8.56%
2008 -2.88% -15.8%
2007 -3.57% -12.5%
2006 -3.79% -12.3%
2005 -4.12% -9.96%
2004 -2.65% -19.2%
2003 -5.59% -8.93%
2002 -5.76% 3.13%
2001 -3.76% -10.9%
2000 -8.88% -0.03%
1999 -8.23% -1.81%
1998 -3.51% 14.6%
1997 -1.7% 5.92%
1996 -3.81% -20.2%
1995 -2.68% -5.14%
1994 -5.23% 0.74%
1993 -4% 6.27%
1992 -4.78% 0.79%
1991 -5.83% 3.87%
1990 -6.66% -4.62%
1989 -4.33% -
1988 -3.48% -
1987 -3.54% -
1986 -3.98% -
1985 -4.71% -
1984 -3.69% -
1983 -7.59% -
1982 -3.6% -
1981 -2.19% -
1980 -2.56% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20).

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

In 2024, Ethiopia's government deficit, the difference between spending and revenue, was $2.98B, equivalent to 1.99% of GDP. This compares to Kiribati's deficit of $67.7M, or 22% of GDP.

Over the past 35 years, Ethiopia recorded a fiscal deficit in 35 of those years, while Kiribati ran a deficit in 19 years. On average, Ethiopia posted an annual deficit equal to 3.55% of GDP, compared to deficit of 0.38% of GDP for Kiribati.

Inflation comparison by year

Inflation
Ethiopia

Kiribati
1x
Year Consumer prices inflation
Ethiopia Kiribati
2024 21% 2.5%
2023 30.2% 9.3%
2022 33.9% 5.3%
2021 26.8% 2.1%
2020 20.4% 2.6%
2019 15.8% -1.8%
2018 13.8% 0.6%
2017 10.7% 0.4%
2016 6.63% 1.9%
2015 9.57% 0.6%
2014 6.89% 2.1%
2013 7.46% -1.5%
2012 23.6% -3%
2011 33.2% 1.5%
2010 8.15% -3.9%
2009 8.48% 9.8%
2008 44.4% 13.7%
2007 17.2% 3.6%
2006 12.3% -1%
2005 9.97% -0.4%
2004 3.33% -0.7%
2003 13.7% 1.6%
2002 0.68% 3.2%
2001 -8.24% 6%
2000 0.66% 0.4%
1999 7.94% 1.8%
1998 0.89% 3.7%
1997 2.4% 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/ethiopia/kiribati | CC BY

Over the past 28 years, Ethiopia has recorded an average annual inflation rate of 13.6%, compared with 2.25% in Kiribati. In 2024, inflation was 21% in Ethiopia and 2.5% in Kiribati.

Balance of trade

Ethiopia Kiribati
Current account balance
-$3.79B
2024
-$59.5M
2024
Current account balance ranking
160/190
2024
85/190
2024
Current account balance, % of GDP
-2.53%
2024
-19.3%
2024
Goods imports
$19.6B
2024
$227M
2024
Goods exports
$5.58B
2024
$8.49M
2024
Service imports
$5.51B
2024
$108M
2024
Service exports
$7.61B
2024
$7M
2024
Imports of goods and services, % of GDP
11.9%
2024
94.9%
2024
Exports of goods and services, % of GDP
5.54%
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.

Ethiopia Kiribati
Economic freedom 48.1 50.8
Economic freedom ranking 171/197 158/197
Property rights 22.1 69.6
Government integrity 33.2 50.5
Judicial effectiveness 19.1 54.6
Tax burden 78.6 72.6
Government spending 96.4 0
Fiscal health 84.3 19.8
Business freedom 44.5 60.2
Labor freedom 37.8 65.3
Monetary freedom 53.7 76.7
Trade freedom 57.4 80
Investment freedom 30 30
Financial freedom 20 30

Economic freedom comparison by year

Ethiopia
Kiribati
1x
Year Economic freedom index
Ethiopia Kiribati
2026 48.1 50.8
2025 48.1 50.9
2024 47.9 51.3
2023 48.3 58.8
2022 49.6 59.2
2021 51.7 44.4
2020 53.6 45.2
2019 53.6 47.3
2018 52.8 50.8
2017 52.7 50.9
2016 51.5 46.2
2015 51.5 46.4
2014 50 46.3
2013 49.4 45.9
2012 52 46.9
2011 50.5 44.8
2010 51.2 43.7
2009 53 45.7
2008 52.5 -
2007 53.6 -
2006 50.9 -
2005 51.1 -
2004 54.5 -
2003 48.8 -
2002 49.8 -
2001 48.9 -
2000 50.2 -
1999 46.7 -
1998 49.2 -
1997 48.1 -
1996 45.9 -
1995 42.6 -

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

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

The Economic Freedom Index for Ethiopia is 48.1, ranking 171/197, 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

Ethiopia Kiribati
Services, % of GDP
37.5%
2024
67.1%
2023
Industry, % of GDP
25.4%
2024
11.5%
2023
Agriculture, forestry, and fishing, % of GDP
34.8%
2024
27.2%
2023
GNI, Atlas method
$146B
2024
$493M
2024
GNI per capita, PPP
$3,280
2024
$6,060
2024
Total reserves including gold
$3.78B
2024
n/a
Total reserves ranking
109/177
2024
n/a
Net foreign direct investment
-$4.02B
2024
-$8.06M
2024
Net inflows of foreign direct investment
$4.02B
2024
$8.07M
2024
Net outflows of foreign direct investment
$0
2024
$16.4K
2024
Servicing debt to the IMF, % of GNI
0.91%
2024
n/a
Poverty at national poverty lines
33.1%
2021
5.5%
2023
Gross capital formation, % of GDP
20.6%
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/ethiopia/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. International Monetary Fund (IMF) | Public Finances in Modern History (1980–1991, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, 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.