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Economy of Germany vs Zambia compared: GDP & Debt

Updated on by Georank team

Germany has a GDP of $4.69T compared to $25.3B for Zambia, ranking 3/197 and 116/197 by economy size, respectively.

Germany has $2.97T in government debt (63.5% of GDP), compared to $29.1B (114.9% of GDP) in Zambia.

Germany vs Zambia GDP by year

Germany
Zambia
1x
Year GDP, current $
Germany Zambia
2024 $4,685,592,577,805 $25,303,185,342
2023 $4,562,207,532,490 $27,577,956,471
2022 $4,201,021,706,479 $29,163,782,140
2021 $4,355,251,953,411 $22,096,416,932
2020 $3,941,398,957,074 $18,137,764,931
2019 $3,959,894,794,039 $23,308,667,781
2018 $4,055,433,215,302 $26,311,507,274
2017 $3,765,351,626,106 $25,873,601,261
2016 $3,536,787,895,179 $20,958,412,538
2015 $3,425,099,578,746 $21,251,216,799
2014 $3,964,870,735,761 $27,141,023,558
2013 $3,807,023,797,051 $28,037,239,463
2012 $3,596,483,233,406 $25,503,060,420
2011 $3,823,575,803,794 $23,459,515,276
2010 $3,467,093,769,667 $20,265,559,484
2009 $3,478,545,516,684 $15,328,342,304
2008 $3,808,197,720,125 $17,910,858,638
2007 $3,484,056,680,855 $14,056,957,976
2006 $3,046,308,753,671 $12,756,858,899
2005 $2,893,393,187,362 $8,331,870,169
2004 $2,852,317,768,062 $6,221,110,219
2003 $2,534,715,518,349 $4,901,869,764
2002 $2,102,350,798,306 $4,193,850,445
2001 $1,966,381,496,642 $4,094,441,301
2000 $1,966,980,701,145 $3,600,632,111
1999 $2,213,873,468,587 $3,404,284,891
1998 $2,247,760,364,566 $3,537,741,942
1997 $2,218,790,886,533 $4,303,288,480
1996 $2,506,576,553,158 $3,597,220,962
1995 $2,593,053,091,306 $3,806,983,413
1994 $2,215,282,632,277 $3,656,806,166
1993 $2,078,954,217,438 $3,273,505,344
1992 $2,141,377,582,968 $3,182,810,841
1991 $1,875,792,575,133 $3,376,806,697
1990 $1,778,162,195,860 $3,288,381,797
1989 $1,404,092,925,205 $3,994,673,161
1988 $1,406,367,016,372 $3,728,878,149
1987 $1,302,932,318,825 $2,265,250,972
1986 $1,050,092,624,516 $1,664,413,508
1985 $735,218,723,093 $2,252,454,500
1984 $727,767,760,979 $2,719,518,933
1983 $773,507,930,295 $3,321,048,451
1982 $779,421,633,755 $3,871,117,093
1981 $803,404,797,058 $4,008,126,497
1980 $953,772,499,462 $3,884,530,854
1979 $884,574,218,333 $3,353,445,378
1978 $743,182,891,918 $2,811,032,473
1977 $602,698,323,086 $2,515,296,940
1976 $521,658,712,133 $2,742,859,263
1975 $492,434,094,920 $2,442,672,141
1974 $446,934,971,657 $2,910,981,262
1973 $399,833,571,167 $2,434,255,237
1972 $300,899,944,795 $1,872,416,680
1971 $250,900,942,397 $1,653,259,341
1970 $216,629,229,947 $1,788,779,285
1969 $177,733,486,326 $1,926,399,230
1968 $156,527,292,653 $1,573,739,371
1967 $145,100,667,773 $1,340,639,464
1966 $143,304,275,684 $1,238,999,505
1965 $134,774,688,191 $1,061,199,576
1964 $123,330,404,665 $822,639,671
1963 $112,232,503,744 $704,339,719
1962 $105,895,435,234 $679,279,729
1961 $96,558,204,043 $682,359,727
1960 $84,619,845,881 $698,739,721

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

GeoRank.org/economy/germany/zambia | CC BY

GDP per capita in Germany vs Zambia by year

Germany
GDP per capita

GDP per capita, PPP
Zambia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Germany Zambia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $56,104 $73,552 $1,187 $4,215
2023 $54,777 $71,684 $1,331 $4,077
2022 $50,507 $69,049 $1,447 $3,841
2021 $52,349 $62,531 $1,127 $3,503
2020 $47,395 $58,686 $952 $3,157
2019 $47,656 $59,271 $1,259 $3,361
2018 $48,916 $56,273 $1,464 $3,442
2017 $45,554 $54,110 $1,483 $3,392
2016 $42,949 $51,570 $1,239 $3,313
2015 $41,930 $48,545 $1,296 $3,337
2014 $48,960 $47,939 $1,707 $3,441
2013 $47,207 $45,889 $1,821 $3,477
2012 $44,718 $44,229 $1,710 $3,324
2011 $47,631 $43,398 $1,625 $3,228
2010 $42,397 $39,726 $1,451 $3,098
2009 $42,472 $37,574 $1,136 $2,872
2008 $46,379 $38,444 $1,376 $2,708
2007 $42,351 $36,914 $1,119 $2,555
2006 $36,980 $34,741 $1,052 $2,378
2005 $35,084 $32,314 $711 $2,213
2004 $34,567 $31,753 $549 $2,068
2003 $30,711 $30,301 $446 $1,942
2002 $25,487 $29,514 $394 $1,837
2001 $23,878 $28,674 $397 $1,785
2000 $23,926 $27,474 $359 $1,709
1999 $26,965 $26,518 $350 $1,654
1998 $27,396 $25,446 $373 $1,601
1997 $27,047 $24,649 $466 $1,631
1996 $30,600 $24,169 $400 $1,585
1995 $31,747 $23,631 $433 $1,501
1994 $27,202 $22,869 $426 $1,464
1993 $25,617 $21,900 $391 $1,607
1992 $26,560 $21,746 $389 $1,505
1991 $23,443 $21,001 $423 $1,534
1990 $22,386 $19,468 $422 $1,522
1989 $17,829 - $526 -
1988 $17,997 - $504 -
1987 $16,739 - $315 -
1986 $13,511 - $238.2 -
1985 $9,464 - $332 -
1984 $9,347 - $413 -
1983 $9,900 - $520 -
1982 $9,950 - $627 -
1981 $10,246 - $670 -
1980 $12,183 - $669 -
1979 $11,322 - $595 -
1978 $9,517 - $514 -
1977 $7,711 - $474 -
1976 $6,659 - $533 -
1975 $6,259 - $490 -
1974 $5,660 - $601 -
1973 $5,065 - $518 -
1972 $3,824 - $410 -
1971 $3,204 - $372 -
1970 $2,771 - $414 -
1969 $2,281 - $459 -
1968 $2,025 - $387 -
1967 $1,886 - $341 -
1966 $1,871 - $325 -
1965 $1,774 - $287.4 -
1964 $1,637 - $230 -
1963 $1,502 - $203.2 -
1962 $1,431 - $202.3 -
1961 $1,316 - $209.7 -
1960 $1,162 - $221.6 -

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

GeoRank.org/economy/germany/zambia | CC BY

Germany's GDP per capita is $56,104, ranking 19/197, compared to $1,187 in Zambia, ranking 169/197. Adjusted for purchasing power (GDP per capita PPP), Germany ranks 20th at $73,552, while Zambia ranks 166th at $4,215.

Economic indicators

Germany Zambia
Gross domestic product
$4.69T
2024
$25.3B
2024
GDP rank
3/197
2024
116/197
2024
GDP growth
-0.5%
2023-2024
3.82%
2023-2024
GDP per capita
$56,104
2024
$1,187
2024
GDP per capita rank
19/197
2024
169/197
2024
GDP per capita, PPP
$73,552
2024
$4,215
2024
GDP per capita PPP rank
20/197
2024
166/197
2024
Government debt
$2.97T
2024
$29.1B
2024
Debt-to-GDP ratio
63.5%
2024
114.9%
2024
Government debt per person
$35,606
2024
$1,365
2024
Government debt per person rank
21/185
2024
134/185
2024
Average annual personal income after taxes
$41,775
2026
$1,349
2026
Market capitalization of domestic companies
$2.04T
2024
$7.77B
2024
Number of millionaires
2,675,000
2025
n/a
Number of billionaires
171
2025
n/a
Income share by richest 10%
25%
2020
39.1%
2022
Income share by poorest 10%
2.9%
2020
1.5%
2022
Government expenditure, % of GDP
49.4%
2024
25.5%
2024
Consumer prices inflation
2.26%
2023-2024
15%
2023-2024
Central bank interest rate n/a
14.3%
2025
Unemployment rate
3.37%
2024
5.86%
2023
Population
82575542
22697916

Spending and national debt comparison by year

Germany
Spending

Debt
Zambia
Spending

Debt
1x
Year % of GDP
Germany Zambia
Government spending Government debt Government spending Government debt
2024 49.4% 63.5% 25.5% 114.9%
2023 48.1% 62.4% 27.4% 129.1%
2022 48.6% 64.4% 28.2% 99.5%
2021 50.7% 68% 30.5% 111%
2020 51.1% 68% 34% 140%
2019 45.5% 58.7% 29.8% 103.3%
2018 44.7% 60.8% 27.7% 81.2%
2017 44.5% 64% 25% 66.6%
2016 44.7% 68.3% 23.9% 61.2%
2015 44.5% 71.2% 27.6% 61.9%
2014 44.5% 74.5% 24.3% 33.9%
2013 45.2% 77.5% 24% 25.9%
2012 45.1% 79.8% 21.9% 24.9%
2011 45.3% 78.5% 19.5% 20.8%
2010 48.1% 81% 18.1% 18.9%
2009 48.3% 72.4% 17.8% 20.5%
2008 44.4% 65.2% 19.5% 19.2%
2007 43.5% 63.7% 19.9% 21.9%
2006 45.3% 66.4% 19.7% 25%
2005 46.9% 67.1% 22.5% 75.7%
2004 47% 65% 23.3% 129.9%
2003 48.5% 63.3% 27.3% 159.5%
2002 48.2% 59.8% 27.6% 180.2%
2001 47.7% 58.1% 28% 210.2%
2000 48.1% 59.2% 21.4% 261%
1999 48.5% 60.3% - -
1998 48.3% 59.4% - -
1997 48.8% 58.8% - -
1996 49.6% 57.7% - -
1995 55.2% 54.9% - -
1994 48.3% 47.5% - -
1993 48.3% 45.1% - -
1992 47.4% 41.4% - -
1991 46.5% 39% - -
1990 44.7% 40.7% - -
1989 44.3% 39.2% - -
1988 45.6% 40.5% - -
1987 46% 40.1% - -
1986 45.7% 39.1% - -
1985 46.6% 39.2% - -
1984 47.2% 38.7% - -
1983 47.9% 38% - -
1982 49.1% 36.4% - -
1981 49% 33.6% - -
1980 48.2% 30.1% - -
1979 47.4% 28.2% - -
1978 47.7% 27.4% - -
1977 49% 26% - -
1976 49.4% 25.1% - -
1975 50.3% 23.7% - -
1974 46% 18.5% - -
1973 42.4% 17.3% - -
1972 41.8% 18% - -
1971 40.9% 17.7% - -
1970 39.5% 17.7% - -
1969 29.7% 20.3% - -
1968 28.5% 22.5% - -
1967 28.8% 22.5% - -
1966 28.3% 19.8% - -
1965 28.4% 18.7% - -
1964 29% 18.2% - -
1963 29.1% 18.1% - -
1962 29.2% 17.6% - -
1961 28.8% 18.7% - -
1960 22.9% 18.4% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1990, retrieved 2026-02-20).

GeoRank.org/economy/germany/zambia | CC BY

In 2024, Germany's government spending was $2.32T, accounting for 49.4% of its GDP, while Zambia spent $6.45B, or 25.5% of GDP.

Debt-to-GDP ratio is 63.5% in Germany and 114.9% in Zambia, ranking 72/185 and 13/185, respectively.

Government deficit by year

Deficit/surplus
Germany

Zambia
1x
Year Deficit/surplus, % of GDP
Germany Zambia
2024 -2.66% -3.32%
2023 -2.49% -5.48%
2022 -1.91% -7.82%
2021 -3.17% -8.13%
2020 -4.38% -13.8%
2019 1.33% -9.41%
2018 1.88% -8.31%
2017 1.34% -7.5%
2016 1.13% -5.69%
2015 0.91% -8.88%
2014 0.73% -5.43%
2013 0.12% -6.4%
2012 -0.05% -3.16%
2011 -0.84% -1.78%
2010 -4.42% -2.43%
2009 -3.18% -2.06%
2008 -0.26% -0.67%
2007 0.15% -1.04%
2006 -1.76% 16.9%
2005 -3.37% -2.37%
2004 -3.42% -2.51%
2003 -3.83% -5.31%
2002 -4.09% -4.5%
2001 -3.12% -5.89%
2000 -1.71% 1.16%
1999 -1.87% -
1998 -2.65% -
1997 -3.03% -
1996 -3.64% -
1995 -9.44% -
1994 -2.54% -
1993 -3.11% -
1992 -2.63% -
1991 -3.21% -
1990 -1.94% -
1989 0.08% -
1988 -2.02% -
1987 -1.85% -
1986 -1.18% -
1985 -1.18% -
1984 -2.04% -
1983 -2.95% -
1982 -3.56% -
1981 -4.03% -
1980 -3.02% -
1979 -2.71% -
1978 -2.62% -
1977 -2.56% -
1976 -3.5% -
1975 -5.78% -
1974 -1.69% -
1973 1.14% -
1972 -0.37% -
1971 0.16% -
1970 0.53% -
1969 -0.43% -
1968 1.39% -
1967 2.73% -
1966 1.76% -
1965 2.26% -
1964 1.49% -
1963 1.43% -
1962 0.49% -
1961 -0.12% -
1960 -0.34% -
1959 0.77% -
1958 1.77% -
1957 1.99% -
1956 0.59% -
1955 -1.41% -
1954 -0.37% -
1953 -0.13% -
1952 0% -
1951 1.15% -
1950 1.81% -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 - -
1939 - -
1938 - -
1937 - -
1936 - -
1935 - -
1934 -0.64% -
1933 -0.43% -
1932 -1.11% -
1931 -1.03% -
1930 -1.52% -
1929 -0.9% -
1928 -1.47% -
1927 -0.44% -
1926 -1.3% -
1925 0.34% -
1924 - -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 0.007% -
1912 -0.26% -
1911 0.06% -
1910 -0.21% -
1909 0.11% -
1908 -0.11% -
1907 -0.14% -
1906 0.76% -
1905 1.21% -
1904 0.41% -
1903 0.88% -
1902 0.08% -
1901 0.91% -
1900 0.27% -
1899 0.6% -
1898 0.47% -
1897 0.39% -
1896 0.63% -
1895 0.47% -
1894 0.44% -
1893 0.42% -
1892 -0.24% -
1891 1.18% -
1890 0.12% -
1889 1.16% -
1888 0.62% -
1887 0.88% -
1886 0.23% -
1885 0.21% -
1884 0.23% -
1883 0.55% -
1882 0.41% -
1881 0.12% -
1880 -0.13% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1880–1990, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20).

GeoRank.org/economy/germany/zambia | CC BY

In 2024, Germany's government deficit, the difference between spending and revenue, was $125B, equivalent to 2.66% of GDP. This compares to Zambia's deficit of $840M, or 3.32% of GDP.

Over the past 25 years, Germany recorded a fiscal deficit in 17 of those years, while Zambia ran a deficit in 23 years. On average, Germany posted an annual deficit equal to 1.48% of GDP, compared to deficit of 4.15% of GDP for Zambia.

Inflation comparison by year

Inflation
Germany

Zambia
1x
Year Consumer prices inflation
Germany Zambia
2024 2.26% 15%
2023 5.95% 10.9%
2022 6.87% 11%
2021 3.07% 22%
2020 0.14% 15.7%
2019 1.45% 9.2%
2018 1.73% 7.5%
2017 1.51% 6.6%
2016 0.49% 17.9%
2015 0.51% 10.1%
2014 0.91% 7.8%
2013 1.5% 7%
2012 2.01% 6.6%
2011 2.08% 8.7%
2010 1.1% 8.5%
2009 0.31% 13.4%
2008 2.63% 12.4%
2007 2.3% 10.7%
2006 1.58% 9%
2005 1.55% 18.3%
2004 1.67% 18%
2003 1.03% 21.4%
2002 1.42% 22.2%
2001 1.98% 21.4%
2000 1.44% 24.1%
1999 0.59% 23.9%
1998 0.91% 22.7%
1997 1.94% 21.4%

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/germany/zambia | CC BY

Over the past 28 years, Germany has recorded an average annual inflation rate of 1.82%, compared with 14.4% in Zambia. In 2024, inflation was 2.26% in Germany and 15% in Zambia.

Top exports between countries

Germany
Export category Export value
Machinery & equipment $66.6M
Chemicals & pharma $17M
Miscellaneous $9.84M
Metals $4.05M
Textiles & consumer goods $2.03M
Processed food, beverages & tobacco $1.81M
Wood & paper products $1.59M
Raw agricultural goods $1.25M
Raw materials & minerals $946K
Animal & marine products $642K
Zambia
Export category Export value
Raw agricultural goods $7.05M
Machinery & equipment $1.7M
Processed food, beverages & tobacco $1.37M
Metals $830K
Textiles & consumer goods $682K
Chemicals & pharma $232K
Animal & marine products $62K
Precious metals & jewellery $39K
Wood & paper products $32K
Miscellaneous $26K

Balance of trade

Germany Zambia
Current account balance
$270B
2024
-$487M
2024
Current account balance ranking
2/190
2024
106/190
2024
Current account balance, % of GDP
+5.77%
2024
-1.93%
2024
Goods imports
$1.21T
2024
$10.1B
2024
Goods exports
$1.47T
2024
$11.4B
2024
Service imports
$548B
2024
$1.94B
2024
Service exports
$470B
2024
$1.38B
2024
Imports of goods and services, % of GDP
37.7%
2024
27.6%
2024
Exports of goods and services, % of GDP
41.4%
2024
35%
2024

Economic freedom indices

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

Germany Zambia
Economic freedom 71.7 51.9
Economic freedom ranking 30/197 152/197
Property rights 95.5 43.9
Government integrity 84.5 39.3
Judicial effectiveness 94.6 45
Tax burden 60.5 74.3
Government spending 28.8 78.1
Fiscal health 83.1 30.9
Business freedom 79.8 53.4
Labor freedom 52.2 48.8
Monetary freedom 72.5 66.6
Trade freedom 79.4 62.8
Investment freedom 60 40
Financial freedom 70 40

Economic freedom comparison by year

Germany
Zambia
1x
Year Economic freedom index
Germany Zambia
2026 71.7 51.9
2025 71.6 50.9
2024 72.1 48.4
2023 73.7 47.8
2022 76.1 48.7
2021 72.5 50.4
2020 73.5 53.5
2019 73.5 53.6
2018 74.2 54.3
2017 73.8 55.8
2016 74.4 58.8
2015 73.8 58.7
2014 73.4 60.4
2013 72.8 58.7
2012 71 58.3
2011 71.8 59.7
2010 71.1 58
2009 70.5 56.6
2008 70.6 56.2
2007 70.8 56.2
2006 70.8 56.8
2005 68.1 55
2004 69.5 54.9
2003 69.7 55.3
2002 70.4 59.6
2001 69.5 59.5
2000 65.7 62.8
1999 65.6 64.2
1998 64.3 62.7
1997 67.5 62.1
1996 69.1 59.6
1995 69.8 55.1

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

GeoRank.org/economy/germany/zambia | CC BY

The Economic Freedom Index for Germany is 71.7, ranking 30/197, compared to 51.9 for Zambia, ranking 152/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Germany Zambia
Services, % of GDP
64%
2024
57.2%
2024
Industry, % of GDP
25.6%
2024
35.2%
2024
Agriculture, forestry, and fishing, % of GDP
0.91%
2024
2.83%
2024
GNI, Atlas method
$4.6T
2024
$25.9B
2024
GNI per capita, PPP
$76,180
2024
$3,850
2024
Total reserves including gold
$378B
2024
$4.09B
2024
Total reserves ranking
10/177
2024
106/177
2024
Net foreign direct investment
$32.6B
2024
-$1.32B
2024
Net inflows of foreign direct investment
$47.6B
2024
$2.36B
2024
Net outflows of foreign direct investment
$80.2B
2024
$311M
2024
Servicing debt to the IMF, % of GNI n/a
16.9%
2024
Poverty at national poverty lines
14.8%
2021
60%
2022
Gross capital formation, % of GDP
21.5%
2024
23.8%
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/germany/zambia | 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 (1991–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1880–1990, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
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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.