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Economy of Ethiopia vs Luxembourg compared: GDP & Debt

Updated on by Georank

Ethiopia has a GDP of $126B compared to $101B for Luxembourg, ranking 66/197 and 75/197 by economy size, respectively.

Ethiopia has $54.4B in government debt (43.1% of GDP), compared to $27.3B (27% of GDP) in Luxembourg.

Ethiopia vs Luxembourg GDP by year

Ethiopia
Luxembourg
1x
Year GDP, current $
Ethiopia Luxembourg
2025 $126,358,758,448 $101,157,829,491
2024 $149,740,297,952 $93,279,851,863
2023 $135,874,093,203 $88,788,881,539
2022 $123,140,304,665 $80,801,680,397
2021 $109,070,960,371 $86,386,759,695
2020 $98,676,811,062 $73,670,782,100
2019 $91,834,517,114 $69,872,035,114
2018 $83,337,901,072 $71,085,623,495
2017 $76,366,081,767 $65,712,180,343
2016 $68,475,871,210 $62,216,885,436
2015 $62,103,418,182 $60,071,584,216
2014 $55,612,228,234 $68,804,814,555
2013 $47,648,276,605 $65,203,276,467
2012 $43,310,721,414 $59,776,383,527
2011 $31,952,763,089 $61,696,281,326
2010 $29,933,790,334 $56,213,985,987
2009 $32,437,389,116 $54,467,289,898
2008 $27,066,912,635 $58,844,277,702
2007 $19,707,616,773 $51,587,401,416
2006 $15,280,861,835 $42,910,153,830
2005 $12,401,139,454 $37,672,311,223
2004 $10,131,187,261 $35,064,843,793
2003 $8,623,691,300 $29,667,268,248
2002 $7,850,809,498 $23,649,832,387
2001 $8,231,326,016 $21,387,550,720
2000 $8,242,349,618 $21,230,200,538
1999 $7,892,973,532 $21,899,317,599
1998 $8,013,274,132 $20,150,055,568
1997 $8,803,539,988 $19,563,836,265
1996 $8,761,215,548 $20,895,314,658
1995 $7,855,205,207 $20,853,093,870
1994 $7,100,806,754 $17,701,798,891
1993 $9,051,043,870 $15,925,521,222
1992 $10,754,799,037 $15,518,702,635
1991 $13,799,799,324 $13,834,219,728
1990 $12,478,943,895 $12,778,792,854
1989 $11,762,932,007 $10,037,674,038
1988 $11,181,119,718 $9,418,167,855
1987 $10,790,001,558 $8,320,902,215
1986 $10,094,328,898 $6,685,595,088
1985 $9,717,392,687 $4,577,211,767
1984 $8,298,309,581 $4,438,435,493
1983 $8,781,664,427 $4,524,217,751
1982 $7,899,988,841 $4,602,316,793
1981 $7,507,663,567 $5,053,665,797
1980 $7,012,585,454 $6,019,805,490
1979 $6,586,048,398 $5,516,982,664
1978 $6,014,961,435 $4,718,539,772
1977 $5,651,840,585 $3,789,321,328
1976 $4,943,806,093 $3,423,586,207
1975 $4,577,047,854 $3,123,333,333
1974 $4,577,209,966 $3,183,637,117
1973 $4,070,570,550 $2,609,875,802
1972 $3,520,252,938 $1,901,697,370
1971 $3,224,280,835 $1,518,773,421
1970 $3,045,354,455 $1,457,768,455
1969 $2,768,987,372 $1,245,432,991
1968 $2,619,948,865 $1,075,561,623
1967 $2,461,762,003 $983,052,315
1966 $2,324,466,416 $976,717,015
1965 $2,159,998,591 $929,477,285
1964 $1,984,129,186 $910,877,686
1963 $1,825,058,828 $797,902,154
1962 $1,747,566,307 $747,846,862
1961 $1,680,859,514 $710,163,719
1960 $1,610,511,694 $709,941,874

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Ethiopia vs Luxembourg by year

Ethiopia
GDP per capita

GDP per capita, PPP
Luxembourg
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ethiopia Luxembourg
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $933 - $147,252 -
2024 $1,134 $3,288 $137,782 $155,941
2023 $1,056 $3,061 $133,231 $150,508
2022 $982 $2,845 $123,720 $146,919
2021 $893 $2,588 $134,966 $136,772
2020 $830 $2,407 $116,860 $122,067
2019 $793 $2,242 $112,697 $121,372
2018 $740 $2,095 $116,927 $116,638
2017 $696 $2,005 $110,193 $114,986
2016 $642 $1,858 $106,899 $113,365
2015 $598 $1,633 $105,462 $107,860
2014 $550 $1,485 $123,679 $105,296
2013 $484 $1,253 $120,000 $100,925
2012 $452 $1,179 $112,585 $96,636
2011 $343 $1,098 $119,025 $94,475
2010 $331 $996 $110,886 $90,336
2009 $369 $899 $109,420 $86,919
2008 $316 $845 $120,422 $90,971
2007 $237.1 $770 $107,475 $85,126
2006 $189.3 $693 $90,789 $78,861
2005 $158.2 $625 $80,988 $68,788
2004 $133.2 $558 $76,545 $64,686
2003 $116.8 $493 $65,689 $60,192
2002 $109.6 $509 $53,006 $58,576
2001 $118.5 $509 $48,440 $56,136
2000 $122.3 $474 $48,660 $55,136
1999 $120.7 $450 $50,872 $49,845
1998 $126.5 $436 $47,445 $44,270
1997 $143.4 $461 $46,642 $42,488
1996 $147.3 $453 $50,444 $39,722
1995 $136.5 $409 $51,032 $38,345
1994 $127.7 $391 $43,933 $37,551
1993 $168.5 $384 $40,067 $35,899
1992 $207.4 $343 $39,571 $34,108
1991 $277.6 $383 $35,747 $33,191
1990 $262.1 $417 $33,465 $29,949
1989 $256.4 - $26,618 -
1988 $253.2 - $25,219 -
1987 $254.1 - $22,443 -
1986 $246 - $18,150 -
1985 $243.9 - $12,482 -
1984 $214.2 - $12,127 -
1983 $232.7 - $12,374 -
1982 $215.3 - $12,591 -
1981 $212.7 - $13,837 -
1980 $203.7 - $16,531 -
1979 $192.4 - $15,204 -
1978 $178.3 - $13,034 -
1977 $170.4 - $10,486 -
1976 $152 - $9,491 -
1975 $144.3 - $8,701 -
1974 $147.9 - $8,967 -
1973 $134.9 - $7,447 -
1972 $119.8 - $5,487 -
1971 $112.7 - $4,435 -
1970 $109.4 - $4,298 -
1969 $102.3 - $3,690 -
1968 $99.5 - $3,203 -
1967 $96.1 - $2,935 -
1966 $93.2 - $2,925 -
1965 $88.9 - $2,804 -
1964 $83.8 - $2,779 -
1963 $79.2 - $2,462 -
1962 $77.8 - $2,332 -
1961 $76.7 - $2,241 -
1960 $75.3 - $2,261 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Ethiopia's GDP per capita is $933, ranking 182/197, compared to $147,252 in Luxembourg, ranking 3/197. Adjusted for purchasing power (GDP per capita PPP), Ethiopia ranks 175th at $3,288, while Luxembourg ranks 1st at $155,941.

Economic indicators

Ethiopia Luxembourg
Gross domestic product
$126B
2025
$101B
2025
GDP rank
66/197
2025
75/197
2025
GDP growth
9.77%
2024-2025
0.64%
2024-2025
GDP per capita
$933
2025
$147,252
2025
GDP per capita rank
182/197
2025
3/197
2025
GDP per capita, PPP
$3,288
2024
$155,941
2024
GDP per capita PPP rank
175/197
2024
1/197
2024
Government debt
$54.4B
2025
$27.3B
2025
Debt-to-GDP ratio
43.1%
2025
27%
2025
Government debt per person
$402
2025
$39,717
2025
Government debt per person rank
172/185
2025
18/185
2025
Average annual personal income after taxes
$2,030
2026
$71,808
2026
Market capitalization of domestic companies n/a
$69.4B
2025
Number of millionaires n/a
85,000
2026
Number of billionaires n/a
1
2026
Income share by richest 10%
24.8%
2021
25%
2023
Income share by poorest 10%
3.5%
2021
2.8%
2023
Government expenditure, % of GDP
12%
2025
48.3%
2025
Consumer prices inflation
13.2%
2024-2025
2.26%
2024-2025
Unemployment rate
3.94%
2021
6.5%
2025
Population
140722974
697802

Spending and national debt comparison by year

Ethiopia
Spending

Debt
Luxembourg
Spending

Debt
1x
Year % of GDP
Ethiopia Luxembourg
Government spending Government debt Government spending Government debt
2025 12% 43.1% 48.3% 27%
2024 9.54% 33.4% 46.8% 26.3%
2023 10.8% 38.7% 46.4% 24.7%
2022 12.7% 46.9% 44.3% 24.9%
2021 13.8% 53.8% 42.4% 24.2%
2020 14.5% 53.2% 47% 24.5%
2019 15.4% 54.7% 43.1% 22.3%
2018 16.1% 58.4% 42.3% 20.9%
2017 18% 55.3% 41.3% 21.8%
2016 17.9% 51.8% 40% 19.6%
2015 17.3% 50.7% 40.4% 21.1%
2014 17.5% 44.2% 40.6% 21.9%
2013 17.8% 44.1% 41.2% 22.4%
2012 16.6% 39.4% 41.8% 20.8%
2011 18.2% 44.6% 41.5% 18.5%
2010 18.5% 39.4% 42% 19.1%
2009 17.1% 30% 42.7% 15.3%
2008 18.8% 56.1% 37.9% 14.6%
2007 20.5% 55.7% 37.4% 8.09%
2006 22.1% 79.6% 39.4% 8.21%
2005 22.9% 78.2% 43.4% 7.95%
2004 23.1% 103.1% 43.7% 7.83%
2003 27% 103.7% 43.3% 7.43%
2002 24.9% 107.4% 41.8% 7.45%
2001 22.4% 97.3% 38.1% 7.62%
2000 25.6% 93.6% 38% 7.49%
1999 26.8% 97.8% 41.7% 8.39%
1998 21.1% 89.3% 43.9% 9.51%
1997 17.9% 80.3% 44.2% 10.1%
1996 18.8% 132.8% 42.5% 10.2%
1995 17.4% 146.6% 42% 10.3%
1994 17.6% 155.2% - -
1993 13.8% 141% - -
1992 14.2% 87.9% - -
1991 17.3% 89.3% - -
1990 20.9% 91.6% - -
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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1991, retrieved 2026-07-08).

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

In 2025, Ethiopia's government spending was $15.2B, accounting for 12% of its GDP, while Luxembourg spent $48.8B, or 48.3% of GDP.

Debt-to-GDP ratio is 43.1% in Ethiopia and 27% in Luxembourg, ranking 122/185 and 165/185, respectively.

Government deficit by year

Deficit/surplus
Ethiopia

Luxembourg
1x
Year Deficit/surplus, % of GDP
Ethiopia Luxembourg
2025 -1.19% -0.96%
2024 -1.99% 0.89%
2023 -2.6% -0.65%
2022 -4.16% 0.21%
2021 -2.77% 1.11%
2020 -2.76% -3.09%
2019 -2.53% 2.68%
2018 -3.03% 3.17%
2017 -3.24% 1.37%
2016 -2.3% 1.89%
2015 -1.95% 1.3%
2014 -2.58% 1.33%
2013 -1.93% 0.84%
2012 -1.17% 0.5%
2011 -1.61% 0.65%
2010 -1.32% -0.26%
2009 -0.93% -0.21%
2008 -2.88% 3.37%
2007 -3.57% 4.35%
2006 -3.79% 1.9%
2005 -4.12% -0.21%
2004 -2.65% -1.39%
2003 -5.59% 0.28%
2002 -5.76% 2.03%
2001 -3.76% 5.62%
2000 -8.88% 5.55%
1999 -8.54% 3.24%
1998 -3.65% 2.98%
1997 -1.76% 2.65%
1996 -3.93% 2.37%
1995 -2.76% 2.71%
1994 -5.39% -
1993 -4.12% -
1992 -4.92% -
1991 -6% -
1990 -6.86% -
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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-07-08).

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

In 2025, Ethiopia's government deficit, the difference between spending and revenue, was $1.5B, equivalent to 1.19% of GDP. This compares to Luxembourg's deficit of $976M, or 0.96% of GDP.

Over the past 31 years, Ethiopia recorded a fiscal deficit in 31 of those years, while Luxembourg ran a deficit in 7 years. On average, Ethiopia posted an annual deficit equal to 3.22% of GDP, compared to surplus of 1.49% of GDP for Luxembourg.

Inflation comparison by year

Inflation
Ethiopia

Luxembourg
1x
Year Consumer prices inflation
Ethiopia Luxembourg
2025 13.2% 2.26%
2024 21% 2.05%
2023 30.2% 3.74%
2022 33.9% 6.34%
2021 26.8% 2.53%
2020 20.4% 0.82%
2019 15.8% 1.74%
2018 13.8% 1.53%
2017 10.7% 1.73%
2016 6.63% 0.29%
2015 9.57% 0.47%
2014 6.89% 0.63%
2013 7.46% 1.73%
2012 23.6% 2.66%
2011 33.2% 3.41%
2010 8.15% 2.27%
2009 8.48% 0.37%
2008 44.4% 3.4%
2007 17.2% 2.31%
2006 12.3% 2.67%
2005 9.97% 2.49%
2004 3.33% 2.23%
2003 13.7% 2.05%
2002 0.68% 2.07%
2001 -8.24% 2.66%
2000 0.66% 3.15%
1999 7.94% 1.03%
1998 0.89% 0.96%
1997 2.4% 1.37%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Ethiopia has recorded an average annual inflation rate of 13.6%, compared with 2.1% in Luxembourg. In 2025, inflation was 13.2% in Ethiopia and 2.26% in Luxembourg.

Top exports between countries

Ethiopia
Export category Export value
Raw materials & minerals $1.07M
Processed food, beverages & tobacco $1K
Luxembourg
Export category Export value
Machinery & equipment $3.19M
Chemicals & pharma $1.02M
Miscellaneous $34K
Raw materials & minerals $12K
Textiles & consumer goods $10K
Processed food, beverages & tobacco $8K
Wood & paper products $2K
Metals $1K

Balance of trade

Ethiopia Luxembourg
Current account balance
-$3.79B
2024
$5.29B
2025
Current account balance ranking
154/190
2024
31/190
2025
Current account balance, % of GDP
-2.53%
2024
+5.23%
2025
Goods imports
$19.6B
2024
$30.9B
2025
Goods exports
$5.58B
2024
$33B
2025
Service imports
$5.51B
2024
$133B
2025
Service exports
$7.61B
2024
$167B
2025
Imports of goods and services, % of GDP
20.2%
2025
159.4%
2025
Exports of goods and services, % of GDP
13.3%
2025
190.5%
2025

Economic freedom indices

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

Ethiopia Luxembourg
Economic freedom 48.1 79.7
Economic freedom ranking 171/197 7/197
Property rights 22.1 96.6
Government integrity 33.2 88.7
Judicial effectiveness 19.1 99.1
Tax burden 78.6 62.3
Government spending 96.4 36.9
Fiscal health 84.3 98.6
Business freedom 44.5 89.5
Labor freedom 37.8 56.7
Monetary freedom 53.7 74.1
Trade freedom 57.4 79.4
Investment freedom 30 95
Financial freedom 20 80

Economic freedom comparison by year

Ethiopia
Luxembourg
1x
Year Economic freedom index
Ethiopia Luxembourg
2026 48.1 79.7
2025 48.1 79.5
2024 47.9 79.2
2023 48.3 78.4
2022 49.6 80.6
2021 51.7 76
2020 53.6 75.8
2019 53.6 75.9
2018 52.8 76.4
2017 52.7 75.9
2016 51.5 73.9
2015 51.5 73.2
2014 50 74.2
2013 49.4 74.2
2012 52 74.5
2011 50.5 76.2
2010 51.2 75.4
2009 53 75.2
2008 52.5 74.7
2007 53.6 74.6
2006 50.9 75.3
2005 51.1 76.3
2004 54.5 78.9
2003 48.8 79.9
2002 49.8 79.4
2001 48.9 80.1
2000 50.2 76.4
1999 46.7 72.4
1998 49.2 72.7
1997 48.1 72.8
1996 45.9 72.5
1995 42.6 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Ethiopia is 48.1, ranking 171/197, compared to 79.7 for Luxembourg, ranking 7/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Ethiopia Luxembourg
Services, % of GDP
36.6%
2025
81.4%
2025
Industry, % of GDP
27.8%
2025
8.88%
2025
Agriculture, forestry, and fishing, % of GDP
32.8%
2025
0.23%
2025
GNI, Atlas method
$151B
2025
$65.8B
2025
GNI per capita, PPP
$3,620
2025
$106,640
2025
Total reserves including gold
$3.78B
2024
$3.06B
2025
Total reserves ranking
113/177
2024
120/177
2025
Net foreign direct investment
-$4.02B
2024
$196B
2025
Net inflows of foreign direct investment
$4.02B
2024
$106B
2024
Net outflows of foreign direct investment
$0
2024
$109B
2024
Servicing debt to the IMF, % of GNI
0.91%
2024
n/a
Poverty at national poverty lines
33.1%
2021
17.3%
2021
Gross capital formation, % of GDP
20.1%
2025
15.5%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

Compare countries by 7 more topics

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1980–1991, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2022–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.