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Economy of Ethiopia vs Maldives compared: GDP & Debt

Updated on by Georank team

Ethiopia has a GDP of $150B compared to $7.06B for Maldives, ranking 60/197 and 159/197 by economy size, respectively.

Ethiopia has $48.9B in government debt (32.7% of GDP), compared to $9.41B (133.3% of GDP) in Maldives.

Ethiopia vs Maldives GDP by year

Ethiopia
Maldives
1x
Year GDP, current $
Ethiopia Maldives
2024 $149,740,297,953 $7,061,608,267
2023 $135,874,093,202 $6,621,008,704
2022 $123,140,304,666 $6,177,123,352
2021 $109,070,960,372 $5,252,457,370
2020 $98,676,811,061 $3,712,604,583
2019 $91,834,517,113 $5,726,094,799
2018 $83,337,901,072 $5,404,344,163
2017 $76,366,081,767 $4,816,426,257
2016 $68,475,871,210 $4,409,942,624
2015 $62,103,418,182 $4,129,505,319
2014 $55,612,228,234 $3,697,353,039
2013 $47,648,276,605 $3,295,009,238
2012 $43,310,721,414 $2,886,163,997
2011 $31,952,763,089 $2,774,350,240
2010 $29,933,790,334 $2,588,176,055
2009 $32,437,389,116 $2,345,294,875
2008 $27,066,912,635 $2,271,646,188
2007 $19,707,616,773 $1,868,383,461
2006 $15,280,861,835 $1,575,200,391
2005 $12,401,139,454 $1,163,362,438
2004 $10,131,187,261 $1,226,829,563
2003 $8,623,691,300 $1,052,121,055
2002 $7,850,809,498 $897,031,250
2001 $8,231,326,016 $870,031,677
2000 $8,242,349,618 $624,337,145
1999 $7,892,973,532 $589,239,754
1998 $8,013,274,132 $540,096,398
1997 $8,803,539,988 $508,223,602
1996 $8,761,215,548 $450,382,328
1995 $7,855,205,207 $398,988,955
1994 $7,100,806,754 $356,014,932
1993 $9,051,043,870 $322,417,837
1992 $10,754,799,037 $284,875,809
1991 $13,799,799,324 $244,396,762
1990 $12,478,943,895 $215,043,970
1989 $11,762,932,007 $189,514,434
1988 $11,181,119,718 $168,514,513
1987 $10,790,001,558 $141,223,029
1986 $10,094,328,898 $141,882,254
1985 $9,717,392,687 $127,190,758
1984 $8,298,309,581 $109,503,546
1983 $8,781,664,427 $57,829,787
1982 $7,899,988,841 $47,911,340
1981 $7,507,663,567 $44,781,457
1980 $7,012,585,454 $42,463,576
1979 $6,586,048,398 $38,523,364
1978 $6,014,961,435 $24,369,109
1977 $5,651,840,585 $20,853,789
1976 $4,943,806,093 $22,399,467
1975 $4,577,047,854 $24,540,878
1974 $4,577,209,966 $39,120,171
1973 $4,070,570,550 $30,862,042
1972 $3,520,252,938 $25,177,138
1971 $3,224,280,835 $21,566,404
1970 $3,045,354,455 $19,328,038
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/maldives | CC BY

GDP per capita in Ethiopia vs Maldives by year

Ethiopia
GDP per capita

GDP per capita, PPP
Maldives
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ethiopia Maldives
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,134 $3,288 $13,379 $26,183
2023 $1,056 $3,061 $12,588 $24,786
2022 $982 $2,845 $11,786 $22,881
2021 $893 $2,588 $10,176 $19,053
2020 $830 $2,407 $7,394 $13,425
2019 $793 $2,242 $11,740 $23,077
2018 $740 $2,095 $11,423 $21,899
2017 $696 $2,005 $10,510 $19,768
2016 $642 $1,858 $9,948 $18,770
2015 $598 $1,633 $9,645 $17,875
2014 $550 $1,485 $8,939 $16,723
2013 $484 $1,253 $8,236 $15,264
2012 $452 $1,179 $7,461 $13,989
2011 $343 $1,098 $7,425 $13,726
2010 $331 $996 $7,174 $12,797
2009 $369 $899 $6,734 $12,266
2008 $316 $845 $6,757 $13,779
2007 $237.1 $770 $5,758 $12,852
2006 $189.3 $693 $5,019 $12,075
2005 $158.2 $625 $3,797 $9,704
2004 $133.2 $558 $4,070 $10,770
2003 $116.8 $493 $3,549 $10,065
2002 $109.6 $509 $3,076 $8,823
2001 $118.5 $509 $3,034 $8,236
2000 $122.3 $474 $2,214 $8,526
1999 $120.7 $450 $2,124 $8,162
1998 $126.5 $436 $1,980 $7,710
1997 $143.4 $461 $1,898 $7,226
1996 $147.3 $453 $1,717 $6,687
1995 $136.5 $409 $1,555 $6,223
1994 $127.7 $391 $1,419 $5,520
1993 $168.5 $384 $1,317 $5,138
1992 $207.4 $343 $1,194 $4,881
1991 $277.6 $383 $1,054 $4,604
1990 $262.1 $417 $957 $4,528
1989 $256.4 - $870 -
1988 $253.2 - $799 -
1987 $254.1 - $692 -
1986 $246 - $720 -
1985 $243.9 - $669 -
1984 $214.2 - $594 -
1983 $232.7 - $323 -
1982 $215.3 - $274.8 -
1981 $212.7 - $264.1 -
1980 $203.7 - $257.6 -
1979 $192.4 - $240.2 -
1978 $178.3 - $156.1 -
1977 $170.4 - $137.3 -
1976 $152 - $151.8 -
1975 $144.3 - $171.4 -
1974 $147.9 - $281.5 -
1973 $134.9 - $228.7 -
1972 $119.8 - $192.2 -
1971 $112.7 - $169.8 -
1970 $109.4 - $156.9 -
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/maldives | CC BY

Ethiopia's GDP per capita is $1,134, ranking 171/197, compared to $13,379 in Maldives, ranking 75/197. Adjusted for purchasing power (GDP per capita PPP), Ethiopia ranks 175th at $3,288, while Maldives ranks 81st at $26,183.

Economic indicators

Ethiopia Maldives
Gross domestic product
$150B
2024
$7.06B
2024
GDP rank
60/197
2024
159/197
2024
GDP growth
7.61%
2023-2024
3.49%
2023-2024
GDP per capita
$1,134
2024
$13,379
2024
GDP per capita rank
171/197
2024
75/197
2024
GDP per capita, PPP
$3,288
2024
$26,183
2024
GDP per capita PPP rank
175/197
2024
81/197
2024
Government debt
$48.9B
2024
$9.41B
2024
Debt-to-GDP ratio
32.7%
2024
133.3%
2024
Government debt per person
$370
2024
$17,837
2024
Government debt per person rank
172/185
2024
35/185
2024
Average annual personal income after taxes
$1,946
2026
$9,909
2026
Income share by richest 10%
24.8%
2021
23.3%
2019
Income share by poorest 10%
3.5%
2021
3.8%
2019
Government expenditure, % of GDP
9.54%
2024
46.1%
2024
Consumer prices inflation
21%
2023-2024
1.4%
2023-2024
Unemployment rate
3.94%
2021
4.56%
2019
Population
139917664
532057

Spending and national debt comparison by year

Ethiopia
Spending

Debt
Maldives
Spending

Debt
1x
Year % of GDP
Ethiopia Maldives
Government spending Government debt Government spending Government debt
2024 9.54% 32.7% 46.1% 133.3%
2023 10.8% 38.7% 46.7% 122.4%
2022 12.7% 46.9% 42% 111.6%
2021 13.8% 53.8% 40.6% 123.4%
2020 14.5% 53.7% 50.4% 155.7%
2019 15.4% 54.7% 32.9% 77.2%
2018 16.1% 58.4% 31.9% 70.7%
2017 18% 55.3% 30.4% 63.8%
2016 17.9% 51.8% 37.3% 61.9%
2015 17.3% 50.7% 33.8% 54.8%
2014 17.5% 44.2% 29.1% 55.1%
2013 17.8% 44.1% 27% 55.9%
2012 16.6% 39.4% 29.8% 57.1%
2011 18.2% 44.6% 31.3% 51.9%
2010 18.5% 39.4% 33.2% 52.7%
2009 17.1% 30% 37% 48.4%
2008 18.8% 56.1% 35.6% 39%
2007 20.5% 55.7% 34.8% 35.8%
2006 22.1% 79.6% 35% 36.8%
2005 22.9% 78.2% 38.8% 43.2%
2004 23.1% 103.1% 24.1% 34.7%
2003 27% 103.7% 26.4% 37.6%
2002 24.9% 107.4% 29.6% 44.3%
2001 22.4% 97.3% 29.6% 41.8%
2000 25.6% 93.6% 29% 39%
1999 25.8% 94.3% 28% 38.9%
1998 20.4% 86% 25.9% 39.3%
1997 17.3% 77.4% 25.2% 38.1%
1996 18.2% 129% 27.3% 46.9%
1995 16.9% 142.3% 31.3% 52.2%
1994 17.1% 150.7% 30.7% 54.6%
1993 13.4% 136.9% 34.7% 55.7%
1992 13.8% 85.4% 36.1% 49%
1991 16.8% 89.3% 37.7% 46.7%
1990 20.3% 91.6% 33.3% 42.4%
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 (1980–1996, retrieved 2026-02-20).

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

In 2024, Ethiopia's government spending was $14.3B, accounting for 9.54% of its GDP, while Maldives spent $3.25B, or 46.1% of GDP.

Debt-to-GDP ratio is 32.7% in Ethiopia and 133.3% in Maldives, ranking 150/185 and 10/185, respectively.

Government deficit by year

Deficit/surplus
Ethiopia

Maldives
1x
Year Deficit/surplus, % of GDP
Ethiopia Maldives
2024 -1.99% -13.9%
2023 -2.6% -13.2%
2022 -4.16% -11.2%
2021 -2.77% -14.2%
2020 -2.76% -23.7%
2019 -2.53% -6.54%
2018 -3.03% -5.17%
2017 -3.24% -3.02%
2016 -2.3% -9.93%
2015 -1.95% -6.52%
2014 -2.58% -2.42%
2013 -1.93% -3.49%
2012 -1.17% -6.91%
2011 -1.61% -8.13%
2010 -1.32% -13.6%
2009 -0.93% -17.9%
2008 -2.88% -9.92%
2007 -3.57% -3.16%
2006 -3.79% -4.52%
2005 -4.12% -7.81%
2004 -2.65% -2.26%
2003 -5.59% -3.45%
2002 -5.76% -3.97%
2001 -3.76% -3.97%
2000 -8.88% -3.89%
1999 -8.23% -3.03%
1998 -3.51% -2.25%
1997 -1.7% -1.46%
1996 -3.81% -2.01%
1995 -2.68% -5.66%
1994 -5.23% -4.82%
1993 -4% -13.9%
1992 -4.78% -12.6%
1991 -5.83% -10.2%
1990 -6.66% -12.8%
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/maldives | 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 Maldives' deficit of $982M, or 13.9% of GDP.

Over the past 35 years, Ethiopia recorded a fiscal deficit in 35 of those years, while Maldives ran a deficit in 35 years. On average, Ethiopia posted an annual deficit equal to 3.55% of GDP, compared to deficit of 7.75% of GDP for Maldives.

Inflation comparison by year

Inflation
Ethiopia

Maldives
1x
Year Consumer prices inflation
Ethiopia Maldives
2024 21% 1.4%
2023 30.2% 2.6%
2022 33.9% 2.6%
2021 26.8% 0.2%
2020 20.4% -1.6%
2019 15.8% 1.3%
2018 13.8% 1.4%
2017 10.7% 2.3%
2016 6.63% 0.8%
2015 9.57% 1.4%
2014 6.89% 2.4%
2013 7.46% 4%
2012 23.6% 10.9%
2011 33.2% 11.3%
2010 8.15% 6.1%
2009 8.48% 4.5%
2008 44.4% 12%
2007 17.2% 6.8%
2006 12.3% 3.5%
2005 9.97% 2.5%
2004 3.33% 6.3%
2003 13.7% -2.8%
2002 0.68% 0.9%
2001 -8.24% 0.7%
2000 0.66% -1.2%
1999 7.94% 3%
1998 0.89% -1.4%
1997 2.4% 7.6%

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/maldives | CC BY

Over the past 28 years, Ethiopia has recorded an average annual inflation rate of 13.6%, compared with 3.2% in Maldives. In 2024, inflation was 21% in Ethiopia and 1.4% in Maldives.

Top exports between countries

Ethiopia
Export category Export value
Raw agricultural goods $2K
Maldives
Export category Export value

Balance of trade

Ethiopia Maldives
Current account balance
-$3.79B
2024
-$1.32B
2024
Current account balance ranking
160/190
2024
130/190
2024
Current account balance, % of GDP
-2.53%
2024
-18.7%
2024
Goods imports
$19.6B
2024
$3.46B
2024
Goods exports
$5.58B
2024
$383M
2024
Service imports
$5.51B
2024
$1.89B
2024
Service exports
$7.61B
2024
$5.03B
2024
Imports of goods and services, % of GDP
11.9%
2024
78.3%
2024
Exports of goods and services, % of GDP
5.54%
2024
78.2%
2024

Economic freedom indices

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

Ethiopia Maldives
Economic freedom 48.1 47.6
Economic freedom ranking 171/197 174/197
Property rights 22.1 52.2
Government integrity 33.2 41.9
Judicial effectiveness 19.1 39.3
Tax burden 78.6 89.9
Government spending 96.4 39.5
Fiscal health 84.3 0
Business freedom 44.5 49.7
Labor freedom 37.8 54.1
Monetary freedom 53.7 76.4
Trade freedom 57.4 62.8
Investment freedom 30 35
Financial freedom 20 30

Economic freedom comparison by year

Ethiopia
Maldives
1x
Year Economic freedom index
Ethiopia Maldives
2026 48.1 47.6
2025 48.1 48.3
2024 47.9 47.8
2023 48.3 46.6
2022 49.6 47.3
2021 51.7 55.2
2020 53.6 56.5
2019 53.6 53.2
2018 52.8 51.1
2017 52.7 50.3
2016 51.5 53.9
2015 51.5 53.4
2014 50 51
2013 49.4 49
2012 52 49.2
2011 50.5 48.3
2010 51.2 49
2009 53 51.3
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/maldives | CC BY

The Economic Freedom Index for Ethiopia is 48.1, ranking 171/197, compared to 47.6 for Maldives, ranking 174/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Ethiopia Maldives
Services, % of GDP
37.5%
2024
72.1%
2024
Industry, % of GDP
25.4%
2024
9.2%
2024
Agriculture, forestry, and fishing, % of GDP
34.8%
2024
3.84%
2024
GNI, Atlas method
$146B
2024
$6.15B
2024
GNI per capita, PPP
$3,280
2024
$23,400
2024
Total reserves including gold
$3.78B
2024
$674M
2024
Total reserves ranking
109/177
2024
150/177
2024
Net foreign direct investment
-$4.02B
2024
-$806M
2024
Net inflows of foreign direct investment
$4.02B
2024
$806M
2024
Net outflows of foreign direct investment
$0
2024
$0
2024
Servicing debt to the IMF, % of GNI
0.91%
2024
7.95%
2024
Poverty at national poverty lines
33.1%
2021
15%
2020
Gross capital formation, % of GDP
20.6%
2024
30.8%
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/ethiopia/maldives | 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 (1980–1996, 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)
  8. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)
  9. TradeMap (2023, retrieved 2026-02-08)

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.