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Economy of Ethiopia vs Nepal compared: GDP & Debt

Updated on by Georank team

Ethiopia has a GDP of $150B compared to $42.9B for Nepal, ranking 60/197 and 101/197 by economy size, respectively.

Ethiopia has $48.9B in government debt (32.7% of GDP), compared to $20.7B (48.3% of GDP) in Nepal.

Ethiopia vs Nepal GDP by year

Ethiopia
Nepal
1x
Year GDP, current $
Ethiopia Nepal
2024 $149,740,297,953 $42,914,268,287
2023 $135,874,093,202 $41,047,772,331
2022 $123,140,304,666 $41,182,939,601
2021 $109,070,960,372 $36,924,841,394
2020 $98,676,811,061 $33,433,659,301
2019 $91,834,517,113 $34,186,180,699
2018 $83,337,901,072 $33,111,525,237
2017 $76,366,081,767 $28,971,588,940
2016 $68,475,871,210 $24,524,109,484
2015 $62,103,418,182 $24,360,801,287
2014 $55,612,228,234 $22,731,612,922
2013 $47,648,276,605 $22,162,204,925
2012 $43,310,721,414 $21,703,100,877
2011 $31,952,763,089 $21,573,872,421
2010 $29,933,790,334 $16,002,656,434
2009 $32,437,389,116 $12,854,985,464
2008 $27,066,912,635 $12,545,438,605
2007 $19,707,616,773 $10,325,618,017
2006 $15,280,861,835 $9,043,715,356
2005 $12,401,139,454 $8,130,258,378
2004 $10,131,187,261 $7,273,938,315
2003 $8,623,691,300 $6,330,473,097
2002 $7,850,809,498 $6,050,875,807
2001 $8,231,326,016 $6,007,055,042
2000 $8,242,349,618 $5,494,252,208
1999 $7,892,973,532 $5,033,642,384
1998 $8,013,274,132 $4,856,255,044
1997 $8,803,539,988 $4,918,691,917
1996 $8,761,215,548 $4,521,580,381
1995 $7,855,205,207 $4,401,104,418
1994 $7,100,806,754 $4,066,775,510
1993 $9,051,043,870 $3,660,041,667
1992 $10,754,799,037 $3,401,211,581
1991 $13,799,799,324 $3,921,476,085
1990 $12,478,943,895 $3,627,560,239
1989 $11,762,932,007 $3,525,225,787
1988 $11,181,119,718 $3,487,009,748
1987 $10,790,001,558 $2,957,255,380
1986 $10,094,328,898 $2,850,782,044
1985 $9,717,392,687 $2,619,913,956
1984 $8,298,309,581 $2,581,207,388
1983 $8,781,664,427 $2,447,174,803
1982 $7,899,988,841 $2,395,423,742
1981 $7,507,663,567 $2,275,583,317
1980 $7,012,585,454 $1,945,916,583
1979 $6,586,048,398 $1,851,250,008
1978 $6,014,961,435 $1,604,162,497
1977 $5,651,840,585 $1,382,400,000
1976 $4,943,806,093 $1,452,788,985
1975 $4,577,047,854 $1,575,789,254
1974 $4,577,209,966 $1,217,953,547
1973 $4,070,570,550 $972,101,725
1972 $3,520,252,938 $1,024,098,400
1971 $3,224,280,835 $882,765,472
1970 $3,045,354,455 $865,975,309
1969 $2,768,987,372 $788,641,965
1968 $2,619,948,865 $772,231,387
1967 $2,461,762,003 $841,974,025
1966 $2,324,466,416 $906,811,944
1965 $2,159,998,591 $735,267,082
1964 $1,984,129,186 $496,098,775
1963 $1,825,058,828 $496,947,904
1962 $1,747,566,307 $574,091,101
1961 $1,680,859,514 $531,959,562
1960 $1,610,511,694 $508,334,414

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

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

GDP per capita in Ethiopia vs Nepal by year

Ethiopia
GDP per capita

GDP per capita, PPP
Nepal
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ethiopia Nepal
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,134 $3,288 $1,447 $5,737
2023 $1,056 $3,061 $1,382 $5,395
2022 $982 $2,845 $1,386 $5,103
2021 $893 $2,588 $1,253 $4,546
2020 $830 $2,407 $1,154 $4,236
2019 $793 $2,242 $1,203 $4,261
2018 $740 $2,095 $1,179 $3,956
2017 $696 $2,005 $1,034 $3,605
2016 $642 $1,858 $877 $2,976
2015 $598 $1,633 $876 $2,957
2014 $550 $1,485 $821 $2,901
2013 $484 $1,253 $803 $2,658
2012 $452 $1,179 $788 $2,466
2011 $343 $1,098 $786 $2,248
2010 $331 $996 $585 $2,139
2009 $369 $899 $473 $2,029
2008 $316 $845 $465 $1,942
2007 $237.1 $770 $385 $1,809
2006 $189.3 $693 $340 $1,718
2005 $158.2 $625 $309 $1,628
2004 $133.2 $558 $279.6 $1,542
2003 $116.8 $493 $246.4 $1,453
2002 $109.6 $509 $238.9 $1,390
2001 $118.5 $509 $240.8 $1,388
2000 $122.3 $474 $223.8 $1,317
1999 $120.7 $450 $208.6 $1,234
1998 $126.5 $436 $205.1 $1,187
1997 $143.4 $461 $211.8 $1,162
1996 $147.3 $453 $198.8 $1,110
1995 $136.5 $409 $197.8 $1,058
1994 $127.7 $391 $187.3 $1,026
1993 $168.5 $384 $172.8 $952
1992 $207.4 $343 $165 $920
1991 $277.6 $383 $195.7 $889
1990 $262.1 $417 $185.8 $830
1989 $256.4 - $185 -
1988 $253.2 - $187.1 -
1987 $254.1 - $162 -
1986 $246 - $159.5 -
1985 $243.9 - $149.9 -
1984 $214.2 - $151.1 -
1983 $232.7 - $146.6 -
1982 $215.3 - $147 -
1981 $212.7 - $142.9 -
1980 $203.7 - $125.1 -
1979 $192.4 - $121.9 -
1978 $178.3 - $108.1 -
1977 $170.4 - $95.3 -
1976 $152 - $102.5 -
1975 $144.3 - $113.6 -
1974 $147.9 - $89.8 -
1973 $134.9 - $73.2 -
1972 $119.8 - $78.8 -
1971 $112.7 - $69.5 -
1970 $109.4 - $69.6 -
1969 $102.3 - $64.8 -
1968 $99.5 - $64.9 -
1967 $96.1 - $72.3 -
1966 $93.2 - $79.5 -
1965 $88.9 - $65.8 -
1964 $83.8 - $45.3 -
1963 $79.2 - $46.3 -
1962 $77.8 - $54.6 -
1961 $76.7 - $51.6 -
1960 $75.3 - $50.2 -

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

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

Ethiopia's GDP per capita is $1,134, ranking 171/197, compared to $1,447 in Nepal, ranking 164/197. Adjusted for purchasing power (GDP per capita PPP), Ethiopia ranks 175th at $3,288, while Nepal ranks 155th at $5,737.

Economic indicators

Ethiopia Nepal
Gross domestic product
$150B
2024
$42.9B
2024
GDP rank
60/197
2024
101/197
2024
GDP growth
7.61%
2023-2024
3.67%
2023-2024
GDP per capita
$1,134
2024
$1,447
2024
GDP per capita rank
171/197
2024
164/197
2024
GDP per capita, PPP
$3,288
2024
$5,737
2024
GDP per capita PPP rank
175/197
2024
155/197
2024
Government debt
$48.9B
2024
$20.7B
2024
Debt-to-GDP ratio
32.7%
2024
48.3%
2024
Government debt per person
$370
2024
$700
2024
Government debt per person rank
172/185
2024
154/185
2024
Average annual personal income after taxes
$1,946
2026
$2,170
2026
Number of billionaires n/a
2
2025
Income share by richest 10%
24.8%
2021
24.2%
2022
Income share by poorest 10%
3.5%
2021
3.7%
2022
Government expenditure, % of GDP
9.54%
2024
22.1%
2024
Consumer prices inflation
21%
2023-2024
4.69%
2023-2024
Unemployment rate
3.94%
2021
10.7%
2017
Population
139917664
29596762

Spending and national debt comparison by year

Ethiopia
Spending

Debt
Nepal
Spending

Debt
1x
Year % of GDP
Ethiopia Nepal
Government spending Government debt Government spending Government debt
2024 9.54% 32.7% 22.1% 48.3%
2023 10.8% 38.7% 25.1% 47%
2022 12.7% 46.9% 26.1% 42.7%
2021 13.8% 53.8% 27.2% 43.3%
2020 14.5% 53.7% 28.5% 43.3%
2019 15.4% 54.7% 27.1% 34%
2018 16.1% 58.4% 28% 31.1%
2017 18% 55.3% 23.6% 25%
2016 17.9% 51.8% 19% 25%
2015 17.3% 50.7% 17.7% 25.7%
2014 17.5% 44.2% 16.6% 27.6%
2013 17.8% 44.1% 15.5% 31.9%
2012 16.6% 39.4% 16.8% 34.5%
2011 18.2% 44.6% 16.3% 32.4%
2010 18.5% 39.4% 16.5% 35.4%
2009 17.1% 30% 17% 39.5%
2008 18.8% 56.1% 13.4% 36.8%
2007 20.5% 55.7% 13.1% 37.9%
2006 22.1% 79.6% 11.2% 42.9%
2005 22.9% 78.2% 12% 45.1%
2004 23.1% 103.1% 11.8% 51.3%
2003 27% 103.7% 12% 53%
2002 24.9% 107.4% 13% 51.8%
2001 22.4% 97.3% 12.9% 50.8%
2000 25.6% 93.6% 11.4% 50.8%
1999 25.8% 94.3% - -
1998 20.4% 86% - -
1997 17.3% 77.4% - -
1996 18.2% 129% - -
1995 16.9% 142.3% - -
1994 17.1% 150.7% - -
1993 13.4% 136.9% - -
1992 13.8% 85.4% - -
1991 16.8% 89.3% - -
1990 20.3% 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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1991, retrieved 2026-02-20).

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

In 2024, Ethiopia's government spending was $14.3B, accounting for 9.54% of its GDP, while Nepal spent $9.5B, or 22.1% of GDP.

Debt-to-GDP ratio is 32.7% in Ethiopia and 48.3% in Nepal, ranking 150/185 and 112/185, respectively.

Government deficit by year

Deficit/surplus
Ethiopia

Nepal
1x
Year Deficit/surplus, % of GDP
Ethiopia Nepal
2024 -1.99% -2.76%
2023 -2.6% -5.81%
2022 -4.16% -3.12%
2021 -2.77% -3.98%
2020 -2.76% -7.47%
2019 -2.53% -4.27%
2018 -3.03% -5.83%
2017 -3.24% -2.69%
2016 -2.3% 1.2%
2015 -1.95% 0.46%
2014 -2.58% 1.36%
2013 -1.93% 1.57%
2012 -1.17% -1.18%
2011 -1.61% -0.72%
2010 -1.32% -0.67%
2009 -0.93% -2.24%
2008 -2.88% -0.29%
2007 -3.57% -0.67%
2006 -3.79% 0.24%
2005 -4.12% 0.24%
2004 -2.65% -0.14%
2003 -5.59% -0.34%
2002 -5.76% -2.46%
2001 -3.76% -2.35%
2000 -8.88% -1.48%
1999 -8.23% -
1998 -3.51% -
1997 -1.7% -
1996 -3.81% -
1995 -2.68% -
1994 -5.23% -
1993 -4% -
1992 -4.78% -
1991 -5.83% -
1990 -6.66% -
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/nepal | 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 Nepal's deficit of $1.19B, or 2.76% of GDP.

Over the past 25 years, Ethiopia recorded a fiscal deficit in 25 of those years, while Nepal ran a deficit in 19 years. On average, Ethiopia posted an annual deficit equal to 3.12% of GDP, compared to deficit of 1.74% of GDP for Nepal.

Inflation comparison by year

Inflation
Ethiopia

Nepal
1x
Year Consumer prices inflation
Ethiopia Nepal
2024 21% 4.69%
2023 30.2% 7.12%
2022 33.9% 7.67%
2021 26.8% 4.13%
2020 20.4% 5.06%
2019 15.8% 5.57%
2018 13.8% 4.41%
2017 10.7% 2.78%
2016 6.63% 8.79%
2015 9.57% 7.87%
2014 6.89% 8.36%
2013 7.46% 9.04%
2012 23.6% 9.46%
2011 33.2% 9.23%
2010 8.15% 9.33%
2009 8.48% 11.1%
2008 44.4% 9.91%
2007 17.2% 2.27%
2006 12.3% 6.92%
2005 9.97% 6.84%
2004 3.33% 2.84%
2003 13.7% 5.71%
2002 0.68% 3.03%
2001 -8.24% 2.69%
2000 0.66% 2.48%
1999 7.94% 7.45%
1998 0.89% 11.2%
1997 2.4% 4.01%

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

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

Over the past 28 years, Ethiopia has recorded an average annual inflation rate of 13.6%, compared with 6.43% in Nepal. In 2024, inflation was 21% in Ethiopia and 4.69% in Nepal.

Top exports between countries

Ethiopia
Export category Export value
Raw agricultural goods $1.11M
Textiles & consumer goods $21K
Chemicals & pharma $5K
Machinery & equipment $4K
Wood & paper products $3K
Metals $2K
Nepal
Export category Export value
Machinery & equipment $5K

Balance of trade

Ethiopia Nepal
Current account balance
-$3.79B
2024
$1.68B
2024
Current account balance ranking
160/190
2024
50/190
2024
Current account balance, % of GDP
-2.53%
2024
+3.91%
2024
Goods imports
$19.6B
2024
$12.1B
2024
Goods exports
$5.58B
2024
$1.54B
2024
Service imports
$5.51B
2024
$2.27B
2024
Service exports
$7.61B
2024
$1.9B
2024
Imports of goods and services, % of GDP
11.9%
2024
32.9%
2024
Exports of goods and services, % of GDP
5.54%
2024
7.62%
2024

Economic freedom indices

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

Ethiopia Nepal
Economic freedom 48.1 52.9
Economic freedom ranking 171/197 144/197
Property rights 22.1 38.8
Government integrity 33.2 38.9
Judicial effectiveness 19.1 42.9
Tax burden 78.6 84.3
Government spending 96.4 82.1
Fiscal health 84.3 71
Business freedom 44.5 60.8
Labor freedom 37.8 48.2
Monetary freedom 53.7 69.4
Trade freedom 57.4 58.6
Investment freedom 30 10
Financial freedom 20 30

Economic freedom comparison by year

Ethiopia
Nepal
1x
Year Economic freedom index
Ethiopia Nepal
2026 48.1 52.9
2025 48.1 52.5
2024 47.9 52.1
2023 48.3 51.4
2022 49.6 49.7
2021 51.7 50.7
2020 53.6 54.2
2019 53.6 53.8
2018 52.8 54.1
2017 52.7 55.1
2016 51.5 50.9
2015 51.5 51.3
2014 50 50.1
2013 49.4 50.4
2012 52 50.2
2011 50.5 50.1
2010 51.2 52.7
2009 53 53.2
2008 52.5 54.1
2007 53.6 54.4
2006 50.9 53.7
2005 51.1 51.4
2004 54.5 51.2
2003 48.8 51.5
2002 49.8 52.3
2001 48.9 51.6
2000 50.2 51.3
1999 46.7 53.1
1998 49.2 53.5
1997 48.1 53.6
1996 45.9 50.3
1995 42.6 -

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

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

The Economic Freedom Index for Ethiopia is 48.1, ranking 171/197, compared to 52.9 for Nepal, ranking 144/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Ethiopia Nepal
Services, % of GDP
37.5%
2024
55.2%
2024
Industry, % of GDP
25.4%
2024
11.4%
2024
Agriculture, forestry, and fishing, % of GDP
34.8%
2024
21.9%
2024
GNI, Atlas method
$146B
2024
$43.7B
2024
GNI per capita, PPP
$3,280
2024
$5,830
2024
Total reserves including gold
$3.78B
2024
$12.5B
2023
Total reserves ranking
109/177
2024
74/177
2023
Net foreign direct investment
-$4.02B
2024
-$56.9M
2024
Net inflows of foreign direct investment
$4.02B
2024
$56.9M
2024
Net outflows of foreign direct investment
$0
2024
$0
2024
Servicing debt to the IMF, % of GNI
0.91%
2024
1.23%
2024
Poverty at national poverty lines
33.1%
2021
20.3%
2022
Gross capital formation, % of GDP
20.6%
2024
30.4%
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/nepal | 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. TradeMap (2021–2023, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.