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Economy of Ethiopia vs Mozambique compared: GDP & Debt

Updated on by Georank

Ethiopia has a GDP of $126B compared to $22.3B for Mozambique, ranking 66/197 and 127/197 by economy size, respectively.

Ethiopia has $54.4B in government debt (43.1% of GDP), compared to $22.9B (102.5% of GDP) in Mozambique.

Ethiopia vs Mozambique GDP by year

Ethiopia
Mozambique
1x
Year GDP, current $
Ethiopia Mozambique
2025 $126,358,758,448 $22,337,997,046
2024 $149,740,297,952 $22,752,244,245
2023 $135,874,093,203 $20,927,498,317
2022 $123,140,304,665 $18,884,232,599
2021 $109,070,960,371 $16,168,055,475
2020 $98,676,811,062 $14,235,420,174
2019 $91,834,517,114 $15,512,759,047
2018 $83,337,901,072 $15,017,358,953
2017 $76,366,081,767 $13,264,640,646
2016 $68,475,871,210 $12,069,051,237
2015 $62,103,418,182 $16,208,985,770
2014 $55,612,228,234 $17,978,246,586
2013 $47,648,276,605 $17,198,073,057
2012 $43,310,721,414 $16,688,114,144
2011 $31,952,763,089 $14,619,279,989
2010 $29,933,790,334 $11,411,894,724
2009 $32,437,389,116 $12,263,894,790
2008 $27,066,912,635 $12,920,340,965
2007 $19,707,616,773 $10,811,456,006
2006 $15,280,861,835 $9,509,835,537
2005 $12,401,139,454 $8,868,504,900
2004 $10,131,187,261 $7,937,255,565
2003 $8,623,691,300 $6,583,526,861
2002 $7,850,809,498 $5,950,769,427
2001 $8,231,326,016 $5,650,154,067
2000 $8,242,349,618 $5,930,685,215
1999 $7,892,973,532 $6,285,219,691
1998 $8,013,274,132 $5,551,118,149
1997 $8,803,539,988 $4,873,663,775
1996 $8,761,215,548 $4,030,146,135
1995 $7,855,205,207 $3,061,646,174
1994 $7,100,806,754 $2,958,108,170
1993 $9,051,043,870 $2,883,161,897
1992 $10,754,799,037 $2,798,696,511
1991 $13,799,799,324 $3,854,856,435
1990 $12,478,943,895 -
1989 $11,762,932,007 -
1988 $11,181,119,718 -
1987 $10,790,001,558 -
1986 $10,094,328,898 -
1985 $9,717,392,687 -
1984 $8,298,309,581 -
1983 $8,781,664,427 -
1982 $7,899,988,841 -
1981 $7,507,663,567 -
1980 $7,012,585,454 -
1979 $6,586,048,398 -
1978 $6,014,961,435 -
1977 $5,651,840,585 -
1976 $4,943,806,093 -
1975 $4,577,047,854 -
1974 $4,577,209,966 -
1973 $4,070,570,550 -
1972 $3,520,252,938 -
1971 $3,224,280,835 -
1970 $3,045,354,455 -
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 (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Ethiopia vs Mozambique by year

Ethiopia
GDP per capita

GDP per capita, PPP
Mozambique
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ethiopia Mozambique
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $933 - $627 -
2024 $1,134 $3,288 $657 $1,705
2023 $1,056 $3,061 $622 $1,678
2022 $982 $2,845 $578 $1,582
2021 $893 $2,588 $510 $1,457
2020 $830 $2,407 $462 $1,412
2019 $793 $2,242 $519 $1,389
2018 $740 $2,095 $518 $1,326
2017 $696 $2,005 $471 $1,283
2016 $642 $1,858 $441 $1,379
2015 $598 $1,633 $611 $1,318
2014 $550 $1,485 $697 $1,166
2013 $484 $1,253 $687 $1,114
2012 $452 $1,179 $686 $1,076
2011 $343 $1,098 $618 $1,064
2010 $331 $996 $496 $1,000
2009 $369 $899 $548 $951
2008 $316 $845 $592 $916
2007 $237.1 $770 $508 $862
2006 $189.3 $693 $457 $798
2005 $158.2 $625 $437 $721
2004 $133.2 $558 $400 $673
2003 $116.8 $493 $339 $620
2002 $109.6 $509 $314 $580
2001 $118.5 $509 $305 $533
2000 $122.3 $474 $327 $472
1999 $120.7 $450 $354 $468
1998 $126.5 $436 $320 $422
1997 $143.4 $461 $287.5 $387
1996 $147.3 $453 $244.4 $350
1995 $136.5 $409 $191.8 $321
1994 $127.7 $391 $196.8 $326
1993 $168.5 $384 $205.2 $321
1992 $207.4 $343 $205.6 $292
1991 $277.6 $383 $288.7 $315
1990 $262.1 $417 - $296
1989 $256.4 - - -
1988 $253.2 - - -
1987 $254.1 - - -
1986 $246 - - -
1985 $243.9 - - -
1984 $214.2 - - -
1983 $232.7 - - -
1982 $215.3 - - -
1981 $212.7 - - -
1980 $203.7 - - -
1979 $192.4 - - -
1978 $178.3 - - -
1977 $170.4 - - -
1976 $152 - - -
1975 $144.3 - - -
1974 $147.9 - - -
1973 $134.9 - - -
1972 $119.8 - - -
1971 $112.7 - - -
1970 $109.4 - - -
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 (1960–2025, retrieved 2026-07-08).

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

Ethiopia's GDP per capita is $933, ranking 182/197, compared to $627 in Mozambique, ranking 193/197. Adjusted for purchasing power (GDP per capita PPP), Ethiopia ranks 175th at $3,288, while Mozambique ranks 192nd at $1,705.

Economic indicators

Ethiopia Mozambique
Gross domestic product
$126B
2025
$22.3B
2025
GDP rank
66/197
2025
127/197
2025
GDP growth
9.77%
2024-2025
-0.52%
2024-2025
GDP per capita
$933
2025
$627
2025
GDP per capita rank
182/197
2025
193/197
2025
GDP per capita, PPP
$3,288
2024
$1,705
2024
GDP per capita PPP rank
175/197
2024
192/197
2024
Government debt
$54.4B
2025
$22.9B
2025
Debt-to-GDP ratio
43.1%
2025
102.5%
2025
Government debt per person
$402
2025
$643
2025
Government debt per person rank
172/185
2025
158/185
2025
Average annual personal income after taxes
$2,030
2026
$1,324
2026
Income share by richest 10%
24.8%
2021
40.8%
2022
Income share by poorest 10%
3.5%
2021
1.7%
2022
Government expenditure, % of GDP
12%
2025
30.3%
2025
Consumer prices inflation
13.2%
2024-2025
4.4%
2024-2025
Central bank interest rate n/a
9.25%
2026
Unemployment rate
3.94%
2021
6.79%
2022
Population
140722974
37173146

Spending and national debt comparison by year

Ethiopia
Spending

Debt
Mozambique
Spending

Debt
1x
Year % of GDP
Ethiopia Mozambique
Government spending Government debt Government spending Government debt
2025 12% 43.1% 30.3% 102.5%
2024 9.54% 33.4% 33.3% 91.4%
2023 10.8% 38.7% 33.3% 90.8%
2022 12.7% 46.9% 32.9% 100.4%
2021 13.8% 53.8% 32.1% 104.3%
2020 14.5% 53.2% 33.9% 120%
2019 15.4% 54.7% 28% 98.3%
2018 16.1% 58.4% 31.2% 105.5%
2017 18% 55.3% 28.6% 103.8%
2016 17.9% 51.8% 28.7% 124.8%
2015 17.3% 50.7% 32.2% 86%
2014 17.5% 44.2% 39.7% 63.4%
2013 17.8% 44.1% 31.7% 49.5%
2012 16.6% 39.4% 28.1% 36.7%
2011 18.2% 44.6% 28.9% 34.2%
2010 18.5% 39.4% 26.6% 38.6%
2009 17.1% 30% 25.7% 39.3%
2008 18.8% 56.1% 21.3% 32.8%
2007 20.5% 55.7% 20.9% 31.2%
2006 22.1% 79.6% 20.1% 40%
2005 22.9% 78.2% 17% 60.1%
2004 23.1% 103.1% 17.8% 50.8%
2003 27% 103.7% 18.6% 63.2%
2002 24.9% 107.4% 18.6% 63.4%
2001 22.4% 97.3% 20.8% 99.8%
2000 25.6% 93.6% 17.2% 95.8%
1999 26.8% 97.8% 15.6% 94.7%
1998 21.1% 89.3% 14.9% -
1997 17.9% 80.3% 16.5% -
1996 18.8% 132.8% 14.9% -
1995 17.4% 146.6% 18.8% -
1994 17.6% 155.2% 22.9% -
1993 13.8% 141% 20.7% -
1992 14.2% 87.9% 21.1% -
1991 17.3% 89.3% 17.3% -
1990 20.9% 91.6% 21% -
1989 24% 84.7% 27% -
1988 21.6% 84.3% 27% -
1987 18.4% 82.3% 22.9% -
1986 19.8% 75.7% 24.2% -
1985 19.7% 67.7% 21% -
1984 18.8% 65.4% 30.9% -
1983 21.3% 55.2% 35.3% -
1982 16.4% 48.8% 27% -
1981 14.2% 30.6% 23.8% -
1980 13.5% 18.5% 14.2% -

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/mozambique | CC BY

In 2025, Ethiopia's government spending was $15.2B, accounting for 12% of its GDP, while Mozambique spent $6.76B, or 30.3% of GDP.

Debt-to-GDP ratio is 43.1% in Ethiopia and 102.5% in Mozambique, ranking 122/185 and 21/185, respectively.

Government deficit by year

Deficit/surplus
Ethiopia

Mozambique
1x
Year Deficit/surplus, % of GDP
Ethiopia Mozambique
2025 -1.19% -3.97%
2024 -1.99% -6.23%
2023 -2.6% -4.26%
2022 -4.16% -5.22%
2021 -2.77% -5.23%
2020 -2.76% -6.19%
2019 -2.53% 1.7%
2018 -3.03% -5.7%
2017 -3.24% -1.99%
2016 -2.3% -5.06%
2015 -1.95% -6.55%
2014 -2.58% -9.75%
2013 -1.93% -2.46%
2012 -1.17% -3.45%
2011 -1.61% -4.34%
2010 -1.32% -3.4%
2009 -0.93% -4.35%
2008 -2.88% -1.9%
2007 -3.57% -2.19%
2006 -3.79% -3.03%
2005 -4.12% -2.06%
2004 -2.65% -3.17%
2003 -5.59% -2.64%
2002 -5.76% -3.36%
2001 -3.76% -4.43%
2000 -8.88% -1.26%
1999 -8.54% -0.31%
1998 -3.65% -1.08%
1997 -1.76% -1.81%
1996 -3.93% -2.07%
1995 -2.76% -2.46%
1994 -5.39% -4%
1993 -4.12% -2.53%
1992 -4.92% -1.85%
1991 -6% -2.01%
1990 -6.86% -4.42%
1989 -4.33% -4.23%
1988 -3.48% -6.47%
1987 -3.54% -7.24%
1986 -3.98% -12.1%
1985 -4.71% -9.69%
1984 -3.69% -13.4%
1983 -7.59% -15.8%
1982 -3.6% -3.61%
1981 -2.19% -7.41%
1980 -2.56% -1.47%

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/mozambique | 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 Mozambique's deficit of $886M, or 3.97% of GDP.

Over the past 35 years, Ethiopia recorded a fiscal deficit in 35 of those years, while Mozambique ran a deficit in 34 years. On average, Ethiopia posted an annual deficit equal to 3.43% of GDP, compared to deficit of 3.39% of GDP for Mozambique.

Inflation comparison by year

Inflation
Ethiopia

Mozambique
1x
Year Consumer prices inflation
Ethiopia Mozambique
2025 13.2% 4.4%
2024 21% 3.2%
2023 30.2% 7%
2022 33.9% 10.4%
2021 26.8% 6.6%
2020 20.4% 0.9%
2019 15.8% 5.7%
2018 13.8% 3.2%
2017 10.7% 15.8%
2016 6.63% 18.4%
2015 9.57% 3.6%
2014 6.89% 2.6%
2013 7.46% 4.3%
2012 23.6% 2.6%
2011 33.2% 11.2%
2010 8.15% 12.4%
2009 8.48% 3.8%
2008 44.4% 14.5%
2007 17.2% 10.4%
2006 12.3% 13.2%
2005 9.97% 6.4%
2004 3.33% 12.6%
2003 13.7% 13.5%
2002 0.68% 16.8%
2001 -8.24% 9.1%
2000 0.66% 12.7%
1999 7.94% 2.9%
1998 0.89% 1.5%
1997 2.4% 7.4%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Ethiopia has recorded an average annual inflation rate of 13.6%, compared with 8.18% in Mozambique. In 2025, inflation was 13.2% in Ethiopia and 4.4% in Mozambique.

Top exports between countries

Ethiopia
Export category Export value
Machinery & equipment $312K
Raw agricultural goods $267K
Chemicals & pharma $26K
Textiles & consumer goods $17K
Metals $5K
Raw materials & minerals $5K
Processed food, beverages & tobacco $2K
Wood & paper products $2K
Precious metals & jewellery $1K
Mozambique
Export category Export value
Metals $909K
Textiles & consumer goods $77K
Machinery & equipment $22K
Processed food, beverages & tobacco $17K
Chemicals & pharma $13K
Wood & paper products $8K
Precious metals & jewellery $2K

Balance of trade

Ethiopia Mozambique
Current account balance
-$3.79B
2024
-$2.49B
2024
Current account balance ranking
154/190
2024
148/190
2024
Current account balance, % of GDP
-2.53%
2024
-11%
2024
Goods imports
$19.6B
2024
$8.38B
2024
Goods exports
$5.58B
2024
$8.21B
2024
Service imports
$5.51B
2024
$2.11B
2024
Service exports
$7.61B
2024
$1.15B
2024
Imports of goods and services, % of GDP
20.2%
2025
55.7%
2025
Exports of goods and services, % of GDP
13.3%
2025
41.4%
2025

Economic freedom indices

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

Ethiopia Mozambique
Economic freedom 48.1 49.6
Economic freedom ranking 171/197 164/197
Property rights 22.1 29.7
Government integrity 33.2 25.1
Judicial effectiveness 19.1 43.4
Tax burden 78.6 75.8
Government spending 96.4 67
Fiscal health 84.3 39.1
Business freedom 44.5 40.2
Labor freedom 37.8 47.7
Monetary freedom 53.7 76.2
Trade freedom 57.4 71.2
Investment freedom 30 40
Financial freedom 20 40

Economic freedom comparison by year

Ethiopia
Mozambique
1x
Year Economic freedom index
Ethiopia Mozambique
2026 48.1 49.6
2025 48.1 50.7
2024 47.9 50.7
2023 48.3 52.5
2022 49.6 51.3
2021 51.7 51.6
2020 53.6 50.5
2019 53.6 48.6
2018 52.8 46.3
2017 52.7 49.9
2016 51.5 53.2
2015 51.5 54.8
2014 50 55
2013 49.4 55
2012 52 57.1
2011 50.5 56.8
2010 51.2 56
2009 53 55.7
2008 52.5 55.4
2007 53.6 54.7
2006 50.9 51.9
2005 51.1 54.6
2004 54.5 57.2
2003 48.8 58.6
2002 49.8 57.7
2001 48.9 59.2
2000 50.2 52.2
1999 46.7 48.9
1998 49.2 43
1997 48.1 44
1996 45.9 48.4
1995 42.6 45.5

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

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

The Economic Freedom Index for Ethiopia is 48.1, ranking 171/197, compared to 49.6 for Mozambique, ranking 164/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Ethiopia Mozambique
Services, % of GDP
36.6%
2025
42%
2025
Industry, % of GDP
27.8%
2025
22.1%
2025
Agriculture, forestry, and fishing, % of GDP
32.8%
2025
25.6%
2025
GNI, Atlas method
$151B
2025
$20.4B
2025
GNI per capita, PPP
$3,620
2025
$1,540
2025
Total reserves including gold
$3.78B
2024
$3.84B
2024
Total reserves ranking
113/177
2024
112/177
2024
Net foreign direct investment
-$4.02B
2024
-$3.55B
2024
Net inflows of foreign direct investment
$4.02B
2024
$3.51B
2024
Net outflows of foreign direct investment
$0
2024
-$44.1M
2024
Servicing debt to the IMF, % of GNI
0.91%
2024
22.4%
2024
Poverty at national poverty lines
33.1%
2021
65%
2022
Gross capital formation, % of GDP
20.1%
2025
24.2%
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/mozambique | CC BY

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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 (2020–2024, 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.