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Economy of Fiji vs Mongolia compared: GDP & Debt

Updated on by Georank team

Fiji has a GDP of $5.97B compared to $23.8B for Mongolia, ranking 161/197 and 121/197 by economy size, respectively.

Fiji has $4.54B in government debt (76.2% of GDP), compared to $10.5B (44.1% of GDP) in Mongolia.

Fiji vs Mongolia GDP by year

Fiji
Mongolia
1x
Year GDP, current $
Fiji Mongolia
2024 $5,968,125,909 $23,794,540,025
2023 $5,476,673,518 $20,325,121,394
2022 $4,977,861,886 $17,146,471,714
2021 $4,158,873,156 $15,286,441,738
2020 $4,227,719,873 $13,312,981,429
2019 $5,344,907,153 $14,206,359,018
2018 $5,581,425,327 $13,178,094,720
2017 $5,353,469,174 $11,480,847,741
2016 $4,930,213,644 $11,181,350,649
2015 $4,682,479,894 $11,619,892,591
2014 $4,857,104,769 $12,226,514,668
2013 $4,189,967,999 $12,582,122,604
2012 $3,972,028,104 $12,292,770,632
2011 $3,779,411,899 $10,409,797,378
2010 $3,140,166,713 $7,189,481,999
2009 $2,870,624,636 $4,583,850,368
2008 $3,523,185,920 $5,623,216,608
2007 $3,378,314,600 $4,234,999,704
2006 $3,076,305,453 $3,414,055,662
2005 $2,980,403,845 $2,523,471,601
2004 $2,708,078,477 $1,992,066,808
2003 $2,300,492,465 $1,595,297,356
2002 $1,833,279,985 $1,396,555,720
2001 $1,652,462,023 $1,267,997,934
2000 $1,678,219,508 $1,136,896,124
1999 $1,936,459,986 $1,057,408,589
1998 $1,653,146,717 $1,124,440,205
1997 $2,090,221,137 $1,180,934,203
1996 $2,128,696,644 $1,345,719,472
1995 $1,970,301,486 $1,452,165,005
1994 $1,825,732,093 $925,817,092
1993 $1,636,101,247 $768,401,634
1992 $1,532,411,039 $1,317,611,864
1991 $1,383,883,250 $2,379,018,326
1990 $1,337,017,559 $2,560,785,660
1989 $1,182,660,266 $3,576,966,800
1988 $1,110,009,523 $3,204,461,567
1987 $1,177,947,965 $3,020,611,600
1986 $1,290,267,340 $2,896,178,867
1985 $1,141,168,944 $2,186,505,475
1984 $1,178,000,678 $2,098,734,600
1983 $1,123,085,190 $2,725,736,633
1982 $1,194,059,943 $2,552,401,933
1981 $1,235,626,771 $2,310,099,100
1980 $1,202,618,816 $2,101,394,100
1979 $1,019,691,460 -
1978 $829,267,889 -
1977 $719,501,766 -
1976 $694,540,806 -
1975 $684,282,434 -
1974 $558,587,097 -
1973 $425,950,488 -
1972 $316,656,649 -
1971 $247,749,328 -
1970 $219,878,482 -
1969 $182,182,068 -
1968 $166,952,937 -
1967 $162,625,886 -
1966 $150,603,926 -
1965 $147,084,750 -
1964 $140,032,741 -
1963 $129,454,729 -
1962 $122,906,435 -
1961 $116,987,785 -
1960 $112,328,422 -

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

GeoRank.org/economy/fiji/mongolia | CC BY

GDP per capita in Fiji vs Mongolia by year

Fiji
GDP per capita

GDP per capita, PPP
Mongolia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Fiji Mongolia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,426 $15,450 $6,751 $19,145
2023 $5,926 $14,644 $5,839 $18,005
2022 $5,414 $12,982 $4,994 $16,402
2021 $4,537 $10,322 $4,518 $14,792
2020 $4,621 $10,716 $4,001 $13,693
2019 $5,842 $12,978 $4,348 $13,605
2018 $6,085 $12,984 $4,108 $12,317
2017 $5,827 $12,585 $3,646 $11,096
2016 $5,364 $11,766 $3,620 $10,511
2015 $5,098 $11,519 $3,839 $10,458
2014 $5,293 $10,516 $4,126 $10,900
2013 $4,572 $8,842 $4,340 $10,442
2012 $4,341 $8,204 $4,329 $10,152
2011 $4,140 $7,672 $3,736 $8,862
2010 $3,449 $7,339 $2,625 $7,532
2009 $3,164 $7,068 $1,703 $7,119
2008 $3,900 $7,154 $2,127 $7,297
2007 $3,763 $6,990 $1,628 $6,678
2006 $3,455 $6,921 $1,330 $5,977
2005 $3,378 $6,652 $995 $5,406
2004 $3,097 $6,463 $794 $4,942
2003 $2,656 $6,033 $643 $4,399
2002 $2,137 $5,914 $570 $4,083
2001 $1,945 $5,699 $524 $3,889
2000 $1,996 $5,521 $476 $3,740
1999 $2,328 $5,552 $449 $3,664
1998 $2,010 $5,090 $484 $3,555
1997 $2,574 $5,031 $515 $3,449
1996 $2,648 $5,109 $596 $3,310
1995 $2,467 $4,818 $653 $3,229
1994 $2,297 $4,627 $423 $3,021
1993 $2,070 $4,334 $355 $2,929
1992 $1,951 $4,172 $608 $2,951
1991 $1,775 $3,873 $1,099 $3,183
1990 $1,729 $3,882 $1,220 $3,479
1989 $1,543 - $1,684 -
1988 $1,463 - $1,543 -
1987 $1,569 - $1,493 -
1986 $1,745 - $1,469 -
1985 $1,577 - $1,138 -
1984 $1,667 - $1,120 -
1983 $1,628 - $1,490 -
1982 $1,773 - $1,430 -
1981 $1,879 - $1,325 -
1980 $1,873 - $1,235 -
1979 $1,627 - - -
1978 $1,355 - - -
1977 $1,204 - - -
1976 $1,186 - - -
1975 $1,188 - - -
1974 $984 - - -
1973 $762 - - -
1972 $575 - - -
1971 $458 - - -
1970 $414 - - -
1969 $350 - - -
1968 $327 - - -
1967 $326 - - -
1966 $310 - - -
1965 $311 - - -
1964 $306 - - -
1963 $291.4 - - -
1962 $285.5 - - -
1961 $280.3 - - -
1960 $277.4 - - -

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

GeoRank.org/economy/fiji/mongolia | CC BY

Fiji's GDP per capita is $6,426, ranking 108/197, compared to $6,751 in Mongolia, ranking 105/197. Adjusted for purchasing power (GDP per capita PPP), Fiji ranks 113th at $15,450, while Mongolia ranks 98th at $19,145.

Economic indicators

Fiji Mongolia
Gross domestic product
$5.97B
2024
$23.8B
2024
GDP rank
161/197
2024
121/197
2024
GDP growth
3.53%
2023-2024
5.12%
2023-2024
GDP per capita
$6,426
2024
$6,751
2024
GDP per capita rank
108/197
2024
105/197
2024
GDP per capita, PPP
$15,450
2024
$19,145
2024
GDP per capita PPP rank
113/197
2024
98/197
2024
Government debt
$4.54B
2024
$10.5B
2024
Debt-to-GDP ratio
76.2%
2024
44.1%
2024
Government debt per person
$4,893
2024
$2,974
2024
Government debt per person rank
80/185
2024
101/185
2024
Average annual personal income after taxes
$6,964
2026
$5,311
2026
Income share by richest 10%
24.2%
2019
24.6%
2022
Income share by poorest 10%
3.5%
2019
3.4%
2022
Government expenditure, % of GDP
29.7%
2024
37.5%
2024
Consumer prices inflation
4.51%
2023-2024
6.2%
2023-2024
Central bank interest rate
0.25%
2020
12%
2025
Unemployment rate
5.36%
2024
5.81%
2024
Population
938628
3620317

Spending and national debt comparison by year

Fiji
Spending

Debt
Mongolia
Spending

Debt
1x
Year % of GDP
Fiji Mongolia
Government spending Government debt Government spending Government debt
2024 29.7% 76.2% 37.5% 44.1%
2023 28.8% 79.1% 31.9% 46.7%
2022 30.9% 83.3% 33.7% 64.6%
2021 36.7% 89% 35.9% 67.4%
2020 36.2% 72.9% 37.1% 83.4%
2019 30.8% 49.7% 30.8% 66.8%
2018 31.8% 44.8% 28.4% 76.5%
2017 27.3% 42.2% 32.2% 86.9%
2016 31.4% 43.6% 39.7% 78.7%
2015 29.8% 43% 31.2% 50.5%
2014 29.1% 44.5% 32.1% 44%
2013 25.1% 45.8% 32.2% 49.4%
2012 25.5% 47.7% 36.1% 43.7%
2011 25.3% 48.6% 37.9% 32.7%
2010 24.8% 51.8% 31.6% 31%
2009 26.2% 51.5% 35.5% 48.5%
2008 22.6% 47.5% 37.6% 31%
2007 23.3% 46% 35.3% 36.1%
2006 24.8% 49.2% 26.2% 40.9%
2005 23.3% 44% 25.1% 55.9%
2004 24% 44.5% 31.8% 75%
2003 25.8% 44.9% 33.7% 90%
2002 27.4% 43.4% 35.5% 72%
2001 26.4% 41% 35.2% 69.2%
2000 24.8% 36.9% 34.5% 79.3%
1999 23.2% 32.7% 33.2% 103.7%
1998 26.8% 36.6% 36.2% 77.5%
1997 29.1% 54.1% 30.8% 61%
1996 26.4% 48.8% 28.6% 49.7%
1995 23.2% 48.4% 26.6% 40.2%
1994 24.3% 47.6% 32.2% 57.6%
1993 25.7% 44.3% 38.3% 57.8%
1992 25.8% 42.2% 29.1% 29.3%
1991 - - 46% -
1990 - - 51.7% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1992–2005, retrieved 2026-02-20).

GeoRank.org/economy/fiji/mongolia | CC BY

In 2024, Fiji's government spending was $1.77B, accounting for 29.7% of its GDP, while Mongolia spent $8.92B, or 37.5% of GDP.

Debt-to-GDP ratio is 76.2% in Fiji and 44.1% in Mongolia, ranking 47/185 and 122/185, respectively.

Government deficit by year

Deficit/surplus
Fiji

Mongolia
1x
Year Deficit/surplus, % of GDP
Fiji Mongolia
2024 -3.36% 1.39%
2023 -6.82% 2.73%
2022 -11.2% 0.67%
2021 -14.6% -3.05%
2020 -9.24% -9.24%
2019 -3.67% 1%
2018 -4.72% 2.85%
2017 -2.22% -3.72%
2016 -5.58% -15.3%
2015 -3.8% -5.04%
2014 -3.36% -3.73%
2013 -0.08% -0.93%
2012 -0.67% -6.24%
2011 -0.69% -4.01%
2010 -1.26% 0.43%
2009 -2.76% -5.2%
2008 1.54% -4.52%
2007 0.35% 2.64%
2006 -0.74% 7.58%
2005 -1.14% 2.43%
2004 -0.95% -1.62%
2003 -3.34% -3.38%
2002 -3.58% -4.74%
2001 -4.4% -4.33%
2000 -1.37% -5.82%
1999 1.1% -9.91%
1998 5.21% -12.3%
1997 -4.48% -8.09%
1996 -3.35% -6.88%
1995 0.77% -4.97%
1994 -0.19% -9.74%
1993 -1.83% -13.3%
1992 -2.14% -8.1%
1991 - -6.37%
1990 - -9.37%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/fiji/mongolia | CC BY

In 2024, Fiji's government deficit, the difference between spending and revenue, was $201M, equivalent to 3.36% of GDP. This compares to Mongolia's surplus of $332M, or 1.39% of GDP.

Over the past 33 years, Fiji recorded a fiscal deficit in 28 of those years, while Mongolia ran a deficit in 24 years. On average, Fiji posted an annual deficit equal to 2.81% of GDP, compared to deficit of 4.01% of GDP for Mongolia.

Inflation comparison by year

Inflation
Fiji

Mongolia
1x
Year Consumer prices inflation
Fiji Mongolia
2024 4.51% 6.2%
2023 2.34% 10.4%
2022 4.32% 15.1%
2021 0.16% 7.4%
2020 -2.6% 3.7%
2019 1.77% 7.3%
2018 4.08% 6.8%
2017 3.35% 4.3%
2016 3.86% 0.8%
2015 1.37% 6.8%
2014 0.52% 12.9%
2013 2.91% 10.6%
2012 3.42% 13.8%
2011 7.28% 8.8%
2010 3.69% 8.3%
2009 3.13% 7.6%
2008 7.73% 28%
2007 4.8% 9.6%
2006 2.49% 4.4%
2005 2.37% 12.6%
2004 2.83% 8.3%
2003 4.17% 5.2%
2002 0.76% 0.9%
2001 4.27% 6.4%
2000 1.09% 11.3%
1999 1.97% 7.6%
1998 5.71% 9.5%
1997 3.37% 30%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/fiji/mongolia | CC BY

Over the past 28 years, Fiji has recorded an average annual inflation rate of 3.06%, compared with 9.45% in Mongolia. In 2024, inflation was 4.51% in Fiji and 6.2% in Mongolia.

Top exports between countries

Fiji
Export category Export value
Miscellaneous $4K
Chemicals & pharma $1K
Mongolia
Export category Export value

Balance of trade

Fiji Mongolia
Current account balance
-$866M
2022
-$2.49B
2024
Current account balance ranking
120/190
2022
149/190
2024
Current account balance, % of GDP
-17.4%
2022
-10.4%
2024
Goods imports
$2.68B
2022
$11.7B
2024
Goods exports
$1.05B
2022
$14.7B
2024
Service imports
$754M
2022
$4.92B
2024
Service exports
$1.33B
2022
$1.6B
2024
Imports of goods and services, % of GDP
69.2%
2023
69.7%
2024
Exports of goods and services, % of GDP
57%
2023
68.7%
2024

Economic freedom indices

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

Fiji Mongolia
Economic freedom 59.5 63.9
Economic freedom ranking 103/197 76/197
Property rights 59.9 49.2
Government integrity 55.4 35.8
Judicial effectiveness 53.2 54.9
Tax burden 87.8 83.7
Government spending 70 64.6
Fiscal health 7.5 96.1
Business freedom 69.5 68.4
Labor freedom 66.9 68.2
Monetary freedom 72.4 72.1
Trade freedom 66.6 74.4
Investment freedom 55 50
Financial freedom 50 50

Economic freedom comparison by year

Fiji
Mongolia
1x
Year Economic freedom index
Fiji Mongolia
2026 59.5 63.9
2025 59.1 62.6
2024 58 60.6
2023 58 61.7
2022 56.4 63.9
2021 62.2 62.4
2020 63.4 55.9
2019 62.2 55.4
2018 62 55.7
2017 63.4 54.8
2016 58.8 59.4
2015 59 59.2
2014 58.7 58.9
2013 57.2 61.7
2012 57.3 61.5
2011 60.4 59.5
2010 60.3 60
2009 61 62.8
2008 61.8 63.6
2007 60.8 60.3
2006 58.4 62.4
2005 58.2 59.7
2004 58 56.5
2003 54.7 57.7
2002 53.9 56.7
2001 53.7 56
2000 57.8 58.5
1999 58.4 58.6
1998 58.2 57.3
1997 58 52.9
1996 57.4 47.4
1995 54.7 47.8

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

GeoRank.org/economy/fiji/mongolia | CC BY

The Economic Freedom Index for Fiji is 59.5, ranking 103/197, compared to 63.9 for Mongolia, ranking 76/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Fiji Mongolia
Services, % of GDP
54.6%
2024
44.3%
2024
Industry, % of GDP
16.5%
2024
38.1%
2024
Agriculture, forestry, and fishing, % of GDP
13.2%
2024
7.29%
2024
GNI, Atlas method
$5.4B
2024
$19B
2024
GNI per capita, PPP
$14,490
2024
$17,000
2024
Total reserves including gold
$1.6B
2024
$5.51B
2024
Total reserves ranking
133/177
2024
95/177
2024
Net foreign direct investment
-$86.9M
2022
-$2.73B
2024
Net inflows of foreign direct investment
$204M
2024
$2.78B
2024
Net outflows of foreign direct investment
$25.6M
2024
$55.5M
2024
Servicing debt to the IMF, % of GNI
4.36%
2024
25.7%
2024
Poverty at national poverty lines
31%
2020
27.1%
2022
Gross capital formation, % of GDP
19.7%
2023
35.5%
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/fiji/mongolia | 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. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1992–2005, retrieved 2026-02-20)
  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)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.