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Economy of Ethiopia vs Tonga compared: GDP & Debt

Updated on by Georank team

Ethiopia has a GDP of $150B compared to $591M for Tonga, ranking 60/197 and 191/197 by economy size, respectively.

Ethiopia has $48.9B in government debt (32.7% of GDP), compared to $256M (37% of GDP) in Tonga.

Ethiopia vs Tonga GDP by year

Ethiopia
Tonga
1x
Year GDP, current $
Ethiopia Tonga
2024 $149,740,297,953 -
2023 $135,874,093,202 $591,139,749
2022 $123,140,304,666 $556,514,555
2021 $109,070,960,372 $519,306,353
2020 $98,676,811,061 $506,571,468
2019 $91,834,517,113 $506,031,239
2018 $83,337,901,072 $493,530,783
2017 $76,366,081,767 $459,976,850
2016 $68,475,871,210 $420,828,262
2015 $62,103,418,182 $437,525,514
2014 $55,612,228,234 $440,997,738
2013 $47,648,276,605 $451,788,498
2012 $43,310,721,414 $471,122,971
2011 $31,952,763,089 $414,143,828
2010 $29,933,790,334 $366,887,375
2009 $32,437,389,116 $312,415,028
2008 $27,066,912,635 $344,438,844
2007 $19,707,616,773 $298,519,623
2006 $15,280,861,835 $292,232,703
2005 $12,401,139,454 $261,823,805
2004 $10,131,187,261 $230,678,011
2003 $8,623,691,300 $202,246,591
2002 $7,850,809,498 $182,764,281
2001 $8,231,326,016 $181,117,230
2000 $8,242,349,618 $204,848,488
1999 $7,892,973,532 $199,208,718
1998 $8,013,274,132 $191,504,893
1997 $8,803,539,988 $214,991,452
1996 $8,761,215,548 $222,100,576
1995 $7,855,205,207 $208,871,666
1994 $7,100,806,754 $195,990,986
1993 $9,051,043,870 $138,489,884
1992 $10,754,799,037 $137,066,291
1991 $13,799,799,324 $132,201,141
1990 $12,478,943,895 $113,563,822
1989 $11,762,932,007 $106,344,855
1988 $11,181,119,718 $106,657,267
1987 $10,790,001,558 $81,667,133
1986 $10,094,328,898 $68,195,856
1985 $9,717,392,687 $60,058,663
1984 $8,298,309,581 $64,248,355
1983 $8,781,664,427 $60,863,964
1982 $7,899,988,841 $62,068,161
1981 $7,507,663,567 $62,242,013
1980 $7,012,585,454 $53,260,077
1979 $6,586,048,398 $44,667,002
1978 $6,014,961,435 $41,567,472
1977 $5,651,840,585 $34,139,388
1976 $4,943,806,093 $30,036,417
1975 $4,577,047,854 $32,506,742
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 (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Ethiopia vs Tonga by year

Ethiopia
GDP per capita

GDP per capita, PPP
Tonga
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ethiopia Tonga
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,134 $3,288 - -
2023 $1,056 $3,061 $5,652 $7,803
2022 $982 $2,845 $5,298 $7,296
2021 $893 $2,588 $4,923 $6,929
2020 $830 $2,407 $4,792 $6,676
2019 $793 $2,242 $4,789 $6,473
2018 $740 $2,095 $4,675 $6,393
2017 $696 $2,005 $4,366 $6,229
2016 $642 $1,858 $3,988 $5,920
2015 $598 $1,633 $4,124 $5,472
2014 $550 $1,485 $4,137 $5,336
2013 $484 $1,253 $4,219 $5,120
2012 $452 $1,179 $4,384 $4,996
2011 $343 $1,098 $3,850 $4,855
2010 $331 $996 $3,416 $4,465
2009 $369 $899 $2,914 $4,384
2008 $316 $845 $3,218 $4,600
2007 $237.1 $770 $2,797 $4,316
2006 $189.3 $693 $2,750 $4,327
2005 $158.2 $625 $2,478 $4,315
2004 $133.2 $558 $2,195 $4,235
2003 $116.8 $493 $1,936 $4,231
2002 $109.6 $509 $1,759 $4,171
2001 $118.5 $509 $1,754 $3,955
2000 $122.3 $474 $1,995 $3,834
1999 $120.7 $450 $1,952 $3,636
1998 $126.5 $436 $1,889 $3,527
1997 $143.4 $461 $2,136 $3,434
1996 $147.3 $453 $2,215 $3,410
1995 $136.5 $409 $2,084 $3,347
1994 $127.7 $391 $1,957 $3,088
1993 $168.5 $384 $1,383 $2,882
1992 $207.4 $343 $1,370 $2,716
1991 $277.6 $383 $1,323 $2,652
1990 $262.1 $417 $1,139 $2,416
1989 $256.4 - $1,070 -
1988 $253.2 - $1,078 -
1987 $254.1 - $830 -
1986 $246 - $696 -
1985 $243.9 - $613 -
1984 $214.2 - $656 -
1983 $232.7 - $621 -
1982 $215.3 - $633 -
1981 $212.7 - $636 -
1980 $203.7 - $545 -
1979 $192.4 - $458 -
1978 $178.3 - $428 -
1977 $170.4 - $353 -
1976 $152 - $315 -
1975 $144.3 - $349 -
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 (1960–2024, retrieved 2026-04-06).

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

Ethiopia's GDP per capita is $1,134, ranking 171/197, compared to $5,652 in Tonga, ranking 115/197. Adjusted for purchasing power (GDP per capita PPP), Ethiopia ranks 175th at $3,288, while Tonga ranks 144th at $7,803.

Economic indicators

Ethiopia Tonga
Gross domestic product
$150B
2024
$591M
2023
GDP rank
60/197
2024
191/197
2023
GDP growth
7.61%
2023-2024
2.79%
2022-2023
GDP per capita
$1,134
2024
$5,652
2023
GDP per capita rank
171/197
2024
115/197
2023
GDP per capita, PPP
$3,288
2024
$7,803
2023
GDP per capita PPP rank
175/197
2024
144/197
2023
Government debt
$48.9B
2024
$256M
2023
Debt-to-GDP ratio
32.7%
2024
37%
2024
Government debt per person
$370
2024
$2,445
2023
Government debt per person rank
172/185
2024
111/185
2023
Average annual personal income after taxes
$1,946
2026
$3,886
2026
Income share by richest 10%
24.8%
2021
22%
2021
Income share by poorest 10%
3.5%
2021
4%
2021
Government expenditure, % of GDP
9.54%
2024
51.3%
2024
Consumer prices inflation
21%
2023-2024
3.18%
2023-2024
Unemployment rate
3.94%
2021
1.65%
2023
Population
139917664
103309

Spending and national debt comparison by year

Ethiopia
Spending

Debt
Tonga
Spending

Debt
1x
Year % of GDP
Ethiopia Tonga
Government spending Government debt Government spending Government debt
2024 9.54% 32.7% 51.3% 37%
2023 10.8% 38.7% 48.2% 43.3%
2022 12.7% 46.9% 44.4% 43.2%
2021 13.8% 53.8% 44.6% 43%
2020 14.5% 53.7% 37.9% 42.6%
2019 15.4% 54.7% 39.9% 42.8%
2018 16.1% 58.4% 39.6% 45.8%
2017 18% 55.3% 39.7% 44.7%
2016 17.9% 51.8% 37.2% 49.4%
2015 17.3% 50.7% 37.4% 51.1%
2014 17.5% 44.2% 31.5% 47.4%
2013 17.8% 44.1% 34.3% 48.9%
2012 16.6% 39.4% 32% 60%
2011 18.2% 44.6% 32.6% 51.9%
2010 18.5% 39.4% 28.4% 44.7%
2009 17.1% 30% 23.9% 39.7%
2008 18.8% 56.1% 24% 34%
2007 20.5% 55.7% 23.2% 37.8%
2006 22.1% 79.6% 25.6% 39.6%
2005 22.9% 78.2% 19.8% 43.3%
2004 23.1% 103.1% 19.3% 52.2%
2003 27% 103.7% 20% 56.2%
2002 24.9% 107.4% 21.3% 60.7%
2001 22.4% 97.3% 19.1% 53.4%
2000 25.6% 93.6% 20% 43.6%
1999 25.8% 94.3% 18.8% 38.4%
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/tonga | CC BY

In 2024, Ethiopia's government spending was $14.3B, accounting for 9.54% of its GDP, while Tonga spent $285M, or 51.3% of GDP.

Debt-to-GDP ratio is 32.7% in Ethiopia and 37% in Tonga, ranking 150/185 and 142/185, respectively.

Government deficit by year

Deficit/surplus
Ethiopia

Tonga
1x
Year Deficit/surplus, % of GDP
Ethiopia Tonga
2024 -1.99% 4.17%
2023 -2.6% 6.14%
2022 -4.16% -0.1%
2021 -2.77% -0.87%
2020 -2.76% 5.25%
2019 -2.53% 3.28%
2018 -3.03% 2.92%
2017 -3.24% 3.58%
2016 -2.3% 1.47%
2015 -1.95% -2.75%
2014 -2.58% 6.38%
2013 -1.93% -1.3%
2012 -1.17% -1.74%
2011 -1.61% -6.02%
2010 -1.32% -1.22%
2009 -0.93% 6.85%
2008 -2.88% 2.14%
2007 -3.57% 5.39%
2006 -3.79% 1.34%
2005 -4.12% 4.23%
2004 -2.65% 4.23%
2003 -5.59% 2.37%
2002 -5.76% 2.59%
2001 -3.76% 2.23%
2000 -8.88% 1.35%
1999 -8.23% 1.55%
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/tonga | CC BY

In 2023, Ethiopia's government deficit, the difference between spending and revenue, was $3.53B, equivalent to 2.6% of GDP. This compares to Tonga's surplus of $36.3M, or 6.14% of GDP.

Over the past 25 years, Ethiopia recorded a fiscal deficit in 25 of those years, while Tonga ran a deficit in 7 years. On average, Ethiopia posted an annual deficit equal to 3.37% of GDP, compared to surplus of 1.97% of GDP for Tonga.

Inflation comparison by year

Inflation
Ethiopia

Tonga
1x
Year Consumer prices inflation
Ethiopia Tonga
2024 21% 3.18%
2023 30.2% 6.35%
2022 33.9% 11%
2021 26.8% 5.64%
2020 20.4% -0.35%
2019 15.8% 1.18%
2018 13.8% 5.03%
2017 10.7% 7.52%
2016 6.63% 2.58%
2015 9.57% -1.05%
2014 6.89% 2.51%
2013 7.46% 0.78%
2012 23.6% 1.15%
2011 33.2% 6.27%
2010 8.15% 3.53%
2009 8.48% 1.43%
2008 44.4% 10.4%
2007 17.2% 5.84%
2006 12.3% 6.15%
2005 9.97% 8.67%
2004 3.33% 11%
2003 13.7% 11.6%
2002 0.68% 10.4%
2001 -8.24% 8.29%
2000 0.66% 6.33%
1999 7.94% 4.46%
1998 0.89% 3.27%
1997 2.4% 2.12%

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

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

Over the past 28 years, Ethiopia has recorded an average annual inflation rate of 13.6%, compared with 5.19% in Tonga. In 2024, inflation was 21% in Ethiopia and 3.18% in Tonga.

Balance of trade

Ethiopia Tonga
Current account balance
-$3.79B
2024
-$43.5M
2024
Current account balance ranking
160/190
2024
83/190
2024
Current account balance, % of GDP
-2.53%
2024
-7.93%
2023
Goods imports
$19.6B
2024
$232M
2024
Goods exports
$5.58B
2024
$10.8M
2024
Service imports
$5.51B
2024
$161M
2024
Service exports
$7.61B
2024
$93.6M
2024
Imports of goods and services, % of GDP
11.9%
2024
64.9%
2023
Exports of goods and services, % of GDP
5.54%
2024
14.7%
2023

Economic freedom indices

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

Ethiopia Tonga
Economic freedom 48.1 58.9
Economic freedom ranking 171/197 107/197
Property rights 22.1 71.1
Government integrity 33.2 45.1
Judicial effectiveness 19.1 64.9
Tax burden 78.6 85.6
Government spending 96.4 31
Fiscal health 84.3 97.3
Business freedom 44.5 59.2
Labor freedom 37.8 55.9
Monetary freedom 53.7 61
Trade freedom 57.4 75.4
Investment freedom 30 40
Financial freedom 20 20

Economic freedom comparison by year

Ethiopia
Tonga
1x
Year Economic freedom index
Ethiopia Tonga
2026 48.1 58.9
2025 48.1 58.5
2024 47.9 59.2
2023 48.3 60
2022 49.6 60.8
2021 51.7 57.5
2020 53.6 58.8
2019 53.6 57.7
2018 52.8 63.1
2017 52.7 63
2016 51.5 59.6
2015 51.5 59.3
2014 50 58.2
2013 49.4 56
2012 52 57
2011 50.5 55.8
2010 51.2 53.4
2009 53 54.1
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/tonga | CC BY

The Economic Freedom Index for Ethiopia is 48.1, ranking 171/197, compared to 58.9 for Tonga, ranking 107/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Ethiopia Tonga
Services, % of GDP
37.5%
2024
50%
2023
Industry, % of GDP
25.4%
2024
14.9%
2023
Agriculture, forestry, and fishing, % of GDP
34.8%
2024
19%
2023
GNI, Atlas method
$146B
2024
$619M
2023
GNI per capita, PPP
$3,280
2024
$8,400
2023
Total reserves including gold
$3.78B
2024
$377M
2024
Total reserves ranking
109/177
2024
163/177
2024
Net foreign direct investment
-$4.02B
2024
$13.3M
2024
Net inflows of foreign direct investment
$4.02B
2024
-$12.1M
2024
Net outflows of foreign direct investment
$0
2024
$1.25M
2024
Servicing debt to the IMF, % of GNI
0.91%
2024
2.76%
2023
Poverty at national poverty lines
33.1%
2021
20.6%
2021
Gross capital formation, % of GDP
20.6%
2024
25.9%
2023

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/tonga | 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. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. 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.