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Economy of Ethiopia vs Russia compared: GDP & Debt

Updated on by Georank

Ethiopia has a GDP of $126B compared to $2.56T for Russia, ranking 66/197 and 8/197 by economy size, respectively.

Ethiopia has $54.4B in government debt (43.1% of GDP), compared to $440B (17.2% of GDP) in Russia.

Ethiopia vs Russia GDP by year

Ethiopia
Russia
1x
Year GDP, current $
Ethiopia Russia
2025 $126,358,758,448 $2,561,310,169,359
2024 $149,740,297,952 $2,186,462,268,813
2023 $135,874,093,203 $2,046,284,838,151
2022 $123,140,304,665 $2,292,495,097,681
2021 $109,070,960,371 $1,829,186,719,575
2020 $98,676,811,062 $1,493,075,894,362
2019 $91,834,517,114 $1,693,115,002,708
2018 $83,337,901,072 $1,657,328,773,461
2017 $76,366,081,767 $1,574,199,360,089
2016 $68,475,871,210 $1,276,786,350,881
2015 $62,103,418,182 $1,363,482,182,198
2014 $55,612,228,234 $2,059,241,589,895
2013 $47,648,276,605 $2,292,470,078,346
2012 $43,310,721,414 $2,208,293,553,878
2011 $31,952,763,089 $2,045,922,753,398
2010 $29,933,790,334 $1,524,916,715,224
2009 $32,437,389,116 $1,222,645,900,056
2008 $27,066,912,635 $1,660,848,058,303
2007 $19,707,616,773 $1,299,703,478,482
2006 $15,280,861,835 $989,932,071,353
2005 $12,401,139,454 $764,015,973,481
2004 $10,131,187,261 $591,016,690,732
2003 $8,623,691,300 $430,347,420,185
2002 $7,850,809,498 $345,470,494,418
2001 $8,231,326,016 $306,602,070,621
2000 $8,242,349,618 $259,710,142,197
1999 $7,892,973,532 $195,907,128,351
1998 $8,013,274,132 $270,955,486,862
1997 $8,803,539,988 $404,928,954,192
1996 $8,761,215,548 $391,724,890,744
1995 $7,855,205,207 $395,537,185,735
1994 $7,100,806,754 $395,077,301,248
1993 $9,051,043,870 $435,083,713,851
1992 $10,754,799,037 $460,290,556,901
1991 $13,799,799,324 $517,962,962,963
1990 $12,478,943,895 $517,014,446,228
1989 $11,762,932,007 $506,631,299,735
1988 $11,181,119,718 $554,828,660,436
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/russia | CC BY

GDP per capita in Ethiopia vs Russia by year

Ethiopia
GDP per capita

GDP per capita, PPP
Russia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ethiopia Russia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $933 - $17,847 -
2024 $1,134 $3,288 $15,219 $47,362
2023 $1,056 $3,061 $14,227 $44,269
2022 $982 $2,845 $15,894 $40,939
2021 $893 $2,588 $12,637 $38,638
2020 $830 $2,407 $10,280 $31,491
2019 $793 $2,242 $11,640 $30,964
2018 $740 $2,095 $11,399 $28,629
2017 $696 $2,005 $10,835 $25,778
2016 $642 $1,858 $8,804 $24,012
2015 $598 $1,633 $9,427 $23,994
2014 $550 $1,485 $14,277 $25,688
2013 $484 $1,253 $15,941 $26,020
2012 $452 $1,179 $15,402 $24,274
2011 $343 $1,098 $14,305 $22,790
2010 $331 $996 $10,675 $20,490
2009 $369 $899 $8,563 $19,390
2008 $316 $845 $11,635 $20,164
2007 $237.1 $770 $9,101 $16,648
2006 $189.3 $693 $6,920 $14,912
2005 $158.2 $625 $5,323 $11,822
2004 $133.2 $558 $4,102 $10,227
2003 $116.8 $493 $2,975 $9,255
2002 $109.6 $509 $2,378 $8,037
2001 $118.5 $509 $2,100 $7,361
2000 $122.3 $474 $1,772 $6,825
1999 $120.7 $450 $1,331 $5,914
1998 $126.5 $436 $1,835 $5,465
1997 $143.4 $461 $2,738 $5,700
1996 $147.3 $453 $2,644 $5,518
1995 $136.5 $409 $2,666 $5,613
1994 $127.7 $391 $2,662 $5,734
1993 $168.5 $384 $2,931 $6,420
1992 $207.4 $343 $3,099 $6,862
1991 $277.6 $383 $3,490 $7,858
1990 $262.1 $417 $3,494 $8,028
1989 $256.4 - $3,430 -
1988 $253.2 - $3,778 -
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/russia | CC BY

Ethiopia's GDP per capita is $933, ranking 182/197, compared to $17,847 in Russia, ranking 68/197. Adjusted for purchasing power (GDP per capita PPP), Ethiopia ranks 175th at $3,288, while Russia ranks 50th at $47,362.

Economic indicators

Ethiopia Russia
Gross domestic product
$126B
2025
$2.56T
2025
GDP rank
66/197
2025
8/197
2025
GDP growth
9.77%
2024-2025
1%
2024-2025
GDP per capita
$933
2025
$17,847
2025
GDP per capita rank
182/197
2025
68/197
2025
GDP per capita, PPP
$3,288
2024
$47,362
2024
GDP per capita PPP rank
175/197
2024
50/197
2024
Government debt
$54.4B
2025
$440B
2025
Debt-to-GDP ratio
43.1%
2025
17.2%
2025
Government debt per person
$402
2025
$3,068
2025
Government debt per person rank
172/185
2025
105/185
2025
Average annual personal income after taxes
$2,030
2026
$11,183
2026
Market capitalization of domestic companies n/a
$650B
2023
Number of millionaires n/a
447,000
2026
Number of billionaires n/a
147
2026
Income share by richest 10%
24.8%
2021
25.1%
2023
Income share by poorest 10%
3.5%
2021
3.1%
2023
Government expenditure, % of GDP
12%
2025
39.1%
2025
Consumer prices inflation
13.2%
2024-2025
8.7%
2024-2025
Central bank interest rate n/a
14.5%
2026
Unemployment rate
3.94%
2021
2.13%
2025
Population
140722974
142643173

Spending and national debt comparison by year

Ethiopia
Spending

Debt
Russia
Spending

Debt
1x
Year % of GDP
Ethiopia Russia
Government spending Government debt Government spending Government debt
2025 12% 43.1% 39.1% 17.2%
2024 9.54% 33.4% 36.7% 14.8%
2023 10.8% 38.7% 36.1% 15.2%
2022 12.7% 46.9% 35.1% 15.1%
2021 13.8% 53.8% 34.9% 16.5%
2020 14.5% 53.2% 39.2% 19.2%
2019 15.4% 54.7% 33.8% 13.7%
2018 16.1% 58.4% 32.6% 13.6%
2017 18% 55.3% 34.8% 14.3%
2016 17.9% 51.8% 36.6% 14.8%
2015 17.3% 50.7% 35.3% 15.3%
2014 17.5% 44.2% 34.9% 15.1%
2013 17.8% 44.1% 34.7% 12.3%
2012 16.6% 39.4% 34% 11.2%
2011 18.2% 44.6% 33.3% 10.3%
2010 18.5% 39.4% 35.5% 10.1%
2009 17.1% 30% 38.6% 9.92%
2008 18.8% 56.1% 32% 7.45%
2007 20.5% 55.7% 31.9% 8.03%
2006 22.1% 79.6% 29% 9.8%
2005 22.9% 78.2% 29.5% 14.9%
2004 23.1% 103.1% 29.6% 20.8%
2003 27% 103.7% 32.6% 28.3%
2002 24.9% 107.4% 33.8% 37.6%
2001 22.4% 97.3% 31.5% 44.4%
2000 25.6% 93.6% 30.7% 55.9%
1999 26.8% 97.8% 34.3% 92.4%
1998 21.1% 89.3% 39.7% 135.2%
1997 17.9% 80.3% - 51.5%
1996 18.8% 132.8% - 51.9%
1995 17.4% 146.6% - 53.7%
1994 17.6% 155.2% - 63.5%
1993 13.8% 141% - 92.4%
1992 14.2% 87.9% - 116%
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 (1980–1996, retrieved 2026-07-08).

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

In 2025, Ethiopia's government spending was $15.2B, accounting for 12% of its GDP, while Russia spent $1T, or 39.1% of GDP.

Debt-to-GDP ratio is 43.1% in Ethiopia and 17.2% in Russia, ranking 122/185 and 175/185, respectively.

Government deficit by year

Deficit/surplus
Ethiopia

Russia
1x
Year Deficit/surplus, % of GDP
Ethiopia Russia
2025 -1.19% -3.9%
2024 -1.99% -1.59%
2023 -2.6% -2.24%
2022 -4.16% -1.34%
2021 -2.77% 0.78%
2020 -2.76% -3.99%
2019 -2.53% 1.93%
2018 -3.03% 2.92%
2017 -3.24% -1.47%
2016 -2.3% -3.67%
2015 -1.95% -3.39%
2014 -2.58% -1.07%
2013 -1.93% -1.16%
2012 -1.17% 0.38%
2011 -1.61% 1.43%
2010 -1.32% -3.19%
2009 -0.93% -5.89%
2008 -2.88% 4.55%
2007 -3.57% 5.59%
2006 -3.79% 7.8%
2005 -4.12% 7.6%
2004 -2.65% 4.57%
2003 -5.59% 1.35%
2002 -5.76% 0.67%
2001 -3.76% 2.99%
2000 -8.88% 3.11%
1999 -8.54% -3.59%
1998 -3.65% -7.42%
1997 -1.76% -
1996 -3.93% -
1995 -2.76% -
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% -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 - 0.15%
1939 - 0.12%
1938 - 0.16%
1937 - 0.12%
1936 - 0.1%
1935 - 0.07%
1934 - 0.25%
1933 - 0.58%
1932 - 0.06%
1931 - -1.12%
1930 - -1.62%
1929 - -0.4%
1928 - -0.4%
1927 - -
1926 - -
1925 - -
1924 - -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 - -
1912 - 0.69%
1911 - 1.26%
1910 - 1.52%
1909 - -0.15%
1908 - -0.83%
1907 - -0.86%
1906 - -3.19%
1905 - -7.72%
1904 - -5.13%
1903 - 1.04%
1902 - -1.57%
1901 - 0.14%
1900 - -0.36%
1899 - 0.66%
1898 - 0.03%
1897 - 0.34%
1896 - 1.3%
1895 - 0.7%
1894 - 1.43%
1893 - 0.63%
1892 - -1.16%
1891 - -0.97%
1890 - 0.01%
1889 - 1.34%
1888 - 0.88%
1887 - 0.14%
1886 - -0.84%
1885 - -0.75%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1885–1989, retrieved 2026-07-08).

GeoRank.org/economy/ethiopia/russia | 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 Russia's deficit of $100B, or 3.9% of GDP.

Over the past 28 years, Ethiopia recorded a fiscal deficit in 28 of those years, while Russia ran a deficit in 14 years. On average, Ethiopia posted an annual deficit equal to 3.26% of GDP, compared to surplus of 0.06% of GDP for Russia.

Inflation comparison by year

Inflation
Ethiopia

Russia
1x
Year Consumer prices inflation
Ethiopia Russia
2025 13.2% 8.7%
2024 21% 8.4%
2023 30.2% 5.9%
2022 33.9% 13.7%
2021 26.8% 6.7%
2020 20.4% 3.4%
2019 15.8% 4.5%
2018 13.8% 2.9%
2017 10.7% 3.7%
2016 6.63% 7%
2015 9.57% 15.5%
2014 6.89% 7.8%
2013 7.46% 6.8%
2012 23.6% 5.1%
2011 33.2% 8.4%
2010 8.15% 6.8%
2009 8.48% 11.6%
2008 44.4% 14.1%
2007 17.2% 9%
2006 12.3% 9.7%
2005 9.97% 12.7%
2004 3.33% 10.9%
2003 13.7% 13.7%
2002 0.68% 15.8%
2001 -8.24% 21.5%
2000 0.66% 20.8%
1999 7.94% 85.7%
1998 0.89% 27.7%
1997 2.4% 14.8%

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/russia | CC BY

Over the past 29 years, Ethiopia has recorded an average annual inflation rate of 13.6%, compared with 13.2% in Russia. In 2025, inflation was 13.2% in Ethiopia and 8.7% in Russia.

Top exports between countries

Ethiopia
Export category Export value
Raw agricultural goods $12.9M
Animal & marine products $66K
Chemicals & pharma $11K
Precious metals & jewellery $2K
Russia
Export category Export value
Raw agricultural goods $76.3M
Miscellaneous $72.7M
Machinery & equipment $36.1M
Metals $5.26M
Transport & tourism services $5.09M
Manufacturing & construction services $2.5M
Business & finance services $2.01M
Raw materials & minerals $1.79M
Wood & paper products $1.74M
Chemicals & pharma $566K

Balance of trade

Ethiopia Russia
Current account balance
-$3.79B
2024
$43.1B
2025
Current account balance ranking
154/190
2024
14/190
2025
Current account balance, % of GDP
-2.53%
2024
+1.68%
2025
Goods imports
$19.6B
2024
$305B
2025
Goods exports
$5.58B
2024
$422B
2025
Service imports
$5.51B
2024
$94.8B
2025
Service exports
$7.61B
2024
$46.3B
2025
Imports of goods and services, % of GDP
20.2%
2025
15.5%
2025
Exports of goods and services, % of GDP
13.3%
2025
18.2%
2025

Economic freedom indices

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

Ethiopia Russia
Economic freedom 48.1 50.3
Economic freedom ranking 171/197 161/197
Property rights 22.1 18.6
Government integrity 33.2 22.8
Judicial effectiveness 19.1 22.8
Tax burden 78.6 81.9
Government spending 96.4 61.3
Fiscal health 84.3 94.4
Business freedom 44.5 51.4
Labor freedom 37.8 59.1
Monetary freedom 53.7 61.8
Trade freedom 57.4 69.4
Investment freedom 30 30
Financial freedom 20 30

Economic freedom comparison by year

Ethiopia
Russia
1x
Year Economic freedom index
Ethiopia Russia
2026 48.1 50.3
2025 48.1 51.6
2024 47.9 52
2023 48.3 53.8
2022 49.6 56.1
2021 51.7 61.5
2020 53.6 61
2019 53.6 58.9
2018 52.8 58.2
2017 52.7 57.1
2016 51.5 50.6
2015 51.5 52.1
2014 50 51.9
2013 49.4 51.1
2012 52 50.5
2011 50.5 50.5
2010 51.2 50.3
2009 53 50.8
2008 52.5 49.8
2007 53.6 52.2
2006 50.9 52.4
2005 51.1 51.3
2004 54.5 52.8
2003 48.8 50.8
2002 49.8 48.7
2001 48.9 49.8
2000 50.2 51.8
1999 46.7 54.5
1998 49.2 52.8
1997 48.1 48.6
1996 45.9 51.6
1995 42.6 51.1

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

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

The Economic Freedom Index for Ethiopia is 48.1, ranking 171/197, compared to 50.3 for Russia, ranking 161/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Ethiopia Russia
Services, % of GDP
36.6%
2025
58.9%
2025
Industry, % of GDP
27.8%
2025
29.7%
2025
Agriculture, forestry, and fishing, % of GDP
32.8%
2025
3.06%
2025
GNI, Atlas method
$151B
2025
$2.33T
2025
GNI per capita, PPP
$3,620
2025
$49,220
2025
Total reserves including gold
$3.78B
2024
$608B
2024
Total reserves ranking
113/177
2024
6/177
2024
Net foreign direct investment
-$4.02B
2024
-$12.4B
2025
Net inflows of foreign direct investment
$4.02B
2024
-$9.35B
2024
Net outflows of foreign direct investment
$0
2024
-$170M
2024
Servicing debt to the IMF, % of GNI
0.91%
2024
2.63%
2024
Poverty at national poverty lines
33.1%
2021
7.2%
2024
Gross capital formation, % of GDP
20.1%
2025
25.9%
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/russia | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1885–1996, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2018–2023, 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.