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Economy of Ethiopia vs Vanuatu compared: GDP & Debt

Updated on by Georank team

Ethiopia has a GDP of $150B compared to $1.12B for Vanuatu, ranking 60/197 and 188/197 by economy size, respectively.

Ethiopia has $48.9B in government debt (32.7% of GDP), compared to $507M (45.3% of GDP) in Vanuatu.

Ethiopia vs Vanuatu GDP by year

Ethiopia
Vanuatu
1x
Year GDP, current $
Ethiopia Vanuatu
2024 $149,740,297,953 $1,117,972,034
2023 $135,874,093,202 $1,115,861,056
2022 $123,140,304,666 $1,055,031,361
2021 $109,070,960,372 $950,394,007
2020 $98,676,811,061 $909,421,044
2019 $91,834,517,113 $936,526,268
2018 $83,337,901,072 $914,727,908
2017 $76,366,081,767 $880,043,284
2016 $68,475,871,210 $804,323,577
2015 $62,103,418,182 $759,690,181
2014 $55,612,228,234 $773,717,011
2013 $47,648,276,605 $758,304,466
2012 $43,310,721,414 $747,839,698
2011 $31,952,763,089 $770,153,588
2010 $29,933,790,334 $670,712,980
2009 $32,437,389,116 $592,622,319
2008 $27,066,912,635 $590,748,429
2007 $19,707,616,773 $516,392,923
2006 $15,280,861,835 $439,358,587
2005 $12,401,139,454 $394,962,433
2004 $10,131,187,261 $364,996,869
2003 $8,623,691,300 $314,471,413
2002 $7,850,809,498 $262,596,536
2001 $8,231,326,016 $257,926,882
2000 $8,242,349,618 $272,014,628
1999 $7,892,973,532 $268,006,973
1998 $8,013,274,132 $262,293,411
1997 $8,803,539,988 $272,771,209
1996 $8,761,215,548 $261,370,044
1995 $7,855,205,207 $249,333,250
1994 $7,100,806,754 $233,701,301
1993 $9,051,043,870 $200,491,853
1992 $10,754,799,037 $209,088,825
1991 $13,799,799,324 $201,334,169
1990 $12,478,943,895 $168,879,207
1989 $11,762,932,007 $154,013,202
1988 $11,181,119,718 $158,351,368
1987 $10,790,001,558 $139,464,174
1986 $10,094,328,898 $126,498,935
1985 $9,717,392,687 $131,856,421
1984 $8,298,309,581 $144,482,515
1983 $8,781,664,427 $117,389,554
1982 $7,899,988,841 $114,501,913
1981 $7,507,663,567 $113,781,796
1980 $7,012,585,454 $121,185,498
1979 $6,586,048,398 $119,258,835
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 (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Ethiopia vs Vanuatu by year

Ethiopia
GDP per capita

GDP per capita, PPP
Vanuatu
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ethiopia Vanuatu
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,134 $3,288 $3,411 $3,606
2023 $1,056 $3,061 $3,483 $3,568
2022 $982 $2,845 $3,370 $3,453
2021 $893 $2,588 $3,107 $3,136
2020 $830 $2,407 $3,043 $3,118
2019 $793 $2,242 $3,207 $3,315
2018 $740 $2,095 $3,207 $3,233
2017 $696 $2,005 $3,160 $3,146
2016 $642 $1,858 $2,956 $3,030
2015 $598 $1,633 $2,855 $2,966
2014 $550 $1,485 $2,973 $2,890
2013 $484 $1,253 $2,980 $2,832
2012 $452 $1,179 $3,005 $2,834
2011 $343 $1,098 $3,163 $2,816
2010 $331 $996 $2,815 $2,733
2009 $369 $899 $2,546 $2,730
2008 $316 $845 $2,604 $2,701
2007 $237.1 $770 $2,334 $2,573
2006 $189.3 $693 $2,035 $2,496
2005 $158.2 $625 $1,874 $2,287
2004 $133.2 $558 $1,774 $2,157
2003 $116.8 $493 $1,567 $2,070
2002 $109.6 $509 $1,341 $1,995
2001 $118.5 $509 $1,350 $2,125
2000 $122.3 $474 $1,460 $2,206
1999 $120.7 $450 $1,472 $2,084
1998 $126.5 $436 $1,471 $2,091
1997 $143.4 $461 $1,562 $2,087
1996 $147.3 $453 $1,529 $1,998
1995 $136.5 $409 $1,492 $1,961
1994 $127.7 $391 $1,431 $1,946
1993 $168.5 $384 $1,257 $1,789
1992 $207.4 $343 $1,344 $1,777
1991 $277.6 $383 $1,326 $1,737
1990 $262.1 $417 $1,141 $1,670
1989 $256.4 - $1,067 -
1988 $253.2 - $1,125 -
1987 $254.1 - $1,017 -
1986 $246 - $946 -
1985 $243.9 - $1,012 -
1984 $214.2 - $1,137 -
1983 $232.7 - $947 -
1982 $215.3 - $946 -
1981 $212.7 - $962 -
1980 $203.7 - $1,048 -
1979 $192.4 - $1,055 -
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 (1960–2024, retrieved 2026-04-06).

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

Ethiopia's GDP per capita is $1,134, ranking 171/197, compared to $3,411 in Vanuatu, ranking 137/197. Adjusted for purchasing power (GDP per capita PPP), Ethiopia ranks 175th at $3,288, while Vanuatu ranks 170th at $3,606.

Economic indicators

Ethiopia Vanuatu
Gross domestic product
$150B
2024
$1.12B
2024
GDP rank
60/197
2024
188/197
2024
GDP growth
7.61%
2023-2024
0.94%
2023-2024
GDP per capita
$1,134
2024
$3,411
2024
GDP per capita rank
171/197
2024
137/197
2024
GDP per capita, PPP
$3,288
2024
$3,606
2024
GDP per capita PPP rank
175/197
2024
170/197
2024
Government debt
$48.9B
2024
$507M
2024
Debt-to-GDP ratio
32.7%
2024
45.3%
2024
Government debt per person
$370
2024
$1,546
2024
Government debt per person rank
172/185
2024
131/185
2024
Average annual personal income after taxes
$1,946
2026
$3,164
2026
Income share by richest 10%
24.8%
2021
24.7%
2019
Income share by poorest 10%
3.5%
2021
3%
2019
Government expenditure, % of GDP
9.54%
2024
41.1%
2024
Consumer prices inflation
21%
2023-2024
11.2%
2022-2023
Unemployment rate
3.94%
2021
4.05%
2020
Population
139917664
344750

Spending and national debt comparison by year

Ethiopia
Spending

Debt
Vanuatu
Spending

Debt
1x
Year % of GDP
Ethiopia Vanuatu
Government spending Government debt Government spending Government debt
2024 9.54% 32.7% 41.1% 45.3%
2023 10.8% 38.7% 41.6% 41.8%
2022 12.7% 46.9% 42% 42.8%
2021 13.8% 53.8% 44.4% 48.5%
2020 14.5% 53.7% 43.4% 48%
2019 15.4% 54.7% 39.8% 45.1%
2018 16.1% 58.4% 33.3% 45.3%
2017 18% 55.3% 37.1% 52.6%
2016 17.9% 51.8% 35.2% 42.5%
2015 17.3% 50.7% 42.4% 36.3%
2014 17.5% 44.2% 23.3% 20.2%
2013 17.8% 44.1% 22.9% 18.6%
2012 16.6% 39.4% 24.5% 19.3%
2011 18.2% 44.6% 25.1% 21.3%
2010 18.5% 39.4% 28.3% 20.2%
2009 17.1% 30% 27.6% 21.1%
2008 18.8% 56.1% 27.8% 21.2%
2007 20.5% 55.7% 22.5% 19.5%
2006 22.1% 79.6% 20.1% 22.2%
2005 22.9% 78.2% 18.3% 26.3%
2004 23.1% 103.1% 18.5% 30.4%
2003 27% 103.7% 18.8% 38.3%
2002 24.9% 107.4% 22.3% 38.8%
2001 22.4% 97.3% 22.3% 37%
2000 25.6% 93.6% 25.4% 36.1%
1999 25.8% 94.3% 23.9% 30.6%
1998 20.4% 86% 27.9% 28%
1997 17.3% 77.4% 22.2% 22.9%
1996 18.2% 129% 24.5% 23.1%
1995 16.9% 142.3% 28% 24.1%
1994 17.1% 150.7% 24.4% 21.6%
1993 13.4% 136.9% 26.2% 20.3%
1992 13.8% 85.4% 31.8% 21%
1991 16.8% 89.3% 33.2% 15.9%
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/vanuatu | CC BY

In 2024, Ethiopia's government spending was $14.3B, accounting for 9.54% of its GDP, while Vanuatu spent $459M, or 41.1% of GDP.

Debt-to-GDP ratio is 32.7% in Ethiopia and 45.3% in Vanuatu, ranking 150/185 and 119/185, respectively.

Government deficit by year

Deficit/surplus
Ethiopia

Vanuatu
1x
Year Deficit/surplus, % of GDP
Ethiopia Vanuatu
2024 -1.99% -2.34%
2023 -2.6% -0.95%
2022 -4.16% -6.5%
2021 -2.77% 2.38%
2020 -2.76% -1.95%
2019 -2.53% 2.81%
2018 -3.03% 6.26%
2017 -3.24% -1.2%
2016 -2.3% -0.72%
2015 -1.95% -8.66%
2014 -2.58% 1.44%
2013 -1.93% -0.25%
2012 -1.17% -1.7%
2011 -1.61% -2.19%
2010 -1.32% -2.63%
2009 -0.93% -0.85%
2008 -2.88% -0.04%
2007 -3.57% 0.28%
2006 -3.79% 0.49%
2005 -4.12% 1.86%
2004 -2.65% 0.8%
2003 -5.59% -1.35%
2002 -5.76% -3.63%
2001 -3.76% -3.33%
2000 -8.88% -6.28%
1999 -8.23% -0.55%
1998 -3.51% -6.65%
1997 -1.7% -0.51%
1996 -3.81% -1.78%
1995 -2.68% -2.59%
1994 -5.23% -1.49%
1993 -4% -3.67%
1992 -4.78% -2.32%
1991 -5.83% -2.81%
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/vanuatu | 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 Vanuatu's deficit of $26.2M, or 2.34% of GDP.

Over the past 34 years, Ethiopia recorded a fiscal deficit in 34 of those years, while Vanuatu ran a deficit in 26 years. On average, Ethiopia posted an annual deficit equal to 3.46% of GDP, compared to deficit of 1.49% of GDP for Vanuatu.

Inflation comparison by year

Inflation
Ethiopia

Vanuatu
1x
Year Consumer prices inflation
Ethiopia Vanuatu
2024 21% -
2023 30.2% 11.2%
2022 33.9% 6.68%
2021 26.8% 2.34%
2020 20.4% 5.33%
2019 15.8% 2.76%
2018 13.8% 2.33%
2017 10.7% 3.08%
2016 6.63% 0.84%
2015 9.57% 2.48%
2014 6.89% 0.8%
2013 7.46% 1.46%
2012 23.6% 1.35%
2011 33.2% 0.87%
2010 8.15% 2.76%
2009 8.48% 4.3%
2008 44.4% 4.84%
2007 17.2% 3.94%
2006 12.3% 2.04%
2005 9.97% 1.2%
2004 3.33% 1.42%
2003 13.7% 3.02%
2002 0.68% 1.96%
2001 -8.24% 3.58%
2000 0.66% 2.54%
1999 7.94% 2%
1998 0.89% 3.28%
1997 2.4% 2.83%

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

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

Over the past 27 years, Ethiopia has recorded an average annual inflation rate of 13.4%, compared with 3.01% in Vanuatu. In 2023, inflation was 21% in Ethiopia and 11.2% in Vanuatu.

Balance of trade

Ethiopia Vanuatu
Current account balance
-$3.79B
2024
-$127M
2022
Current account balance ranking
160/190
2024
90/190
2022
Current account balance, % of GDP
-2.53%
2024
-12.1%
2022
Goods imports
$19.6B
2024
$350M
2022
Goods exports
$5.58B
2024
$73.6M
2022
Service imports
$5.51B
2024
$230M
2022
Service exports
$7.61B
2024
$78.5M
2022
Imports of goods and services, % of GDP
11.9%
2024
54.2%
2022
Exports of goods and services, % of GDP
5.54%
2024
9.43%
2022

Economic freedom indices

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

Ethiopia Vanuatu
Economic freedom 48.1 61.1
Economic freedom ranking 171/197 92/197
Property rights 22.1 62.1
Government integrity 33.2 48.3
Judicial effectiveness 19.1 67.9
Tax burden 78.6 96.9
Government spending 96.4 48.1
Fiscal health 84.3 78.8
Business freedom 44.5 50.3
Labor freedom 37.8 41
Monetary freedom 53.7 72.1
Trade freedom 57.4 62
Investment freedom 30 65
Financial freedom 20 40

Economic freedom comparison by year

Ethiopia
Vanuatu
1x
Year Economic freedom index
Ethiopia Vanuatu
2026 48.1 61.1
2025 48.1 61.8
2024 47.9 62.2
2023 48.3 62.1
2022 49.6 62.9
2021 51.7 60.5
2020 53.6 60.7
2019 53.6 56.4
2018 52.8 69.5
2017 52.7 67.4
2016 51.5 60.8
2015 51.5 61.1
2014 50 59.5
2013 49.4 56.6
2012 52 56.6
2011 50.5 56.7
2010 51.2 56.4
2009 53 58.4
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/vanuatu | CC BY

The Economic Freedom Index for Ethiopia is 48.1, ranking 171/197, compared to 61.1 for Vanuatu, ranking 92/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Ethiopia Vanuatu
Services, % of GDP
37.5%
2024
59.1%
2022
Industry, % of GDP
25.4%
2024
7.37%
2022
Agriculture, forestry, and fishing, % of GDP
34.8%
2024
24.3%
2022
GNI, Atlas method
$146B
2024
$1.28B
2024
GNI per capita, PPP
$3,280
2024
$4,140
2024
Total reserves including gold
$3.78B
2024
$615M
2024
Total reserves ranking
109/177
2024
152/177
2024
Net foreign direct investment
-$4.02B
2024
-$9.21M
2022
Net inflows of foreign direct investment
$4.02B
2024
$28.9M
2024
Net outflows of foreign direct investment
$0
2024
$2.79M
2024
Servicing debt to the IMF, % of GNI
0.91%
2024
2.04%
2024
Poverty at national poverty lines
33.1%
2021
15.9%
2020
Gross capital formation, % of GDP
20.6%
2024
38.3%
2022

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/vanuatu | 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.