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Economy of Ghana vs Kiribati compared: GDP & Debt

Updated on by Georank team

Ghana has a GDP of $82.3B compared to $308M for Kiribati, ranking 80/197 and 192/197 by economy size, respectively.

Ghana has $57.9B in government debt (70.3% of GDP), compared to $30.5M (9.92% of GDP) in Kiribati.

Ghana vs Kiribati GDP by year

Ghana
Kiribati
1x
Year GDP, current $
Ghana Kiribati
2024 $82,308,110,386 $307,862,564
2023 $80,547,146,878 $288,610,748
2022 $73,919,003,210 $270,040,453
2021 $79,514,204,730 $285,259,881
2020 $70,008,243,860 $220,898,020
2019 $68,352,629,246 $216,985,388
2018 $67,259,353,966 $233,514,717
2017 $60,385,409,435 $222,875,736
2016 $56,144,179,398 $206,467,819
2015 $49,436,806,230 $191,559,399
2014 $54,678,533,806 $200,287,282
2013 $62,845,721,960 $201,730,861
2012 $41,271,701,061 $207,001,546
2011 $39,336,668,081 $195,970,140
2010 $32,197,655,567 $165,458,433
2009 $26,048,720,006 $140,177,384
2008 $28,679,383,241 $147,017,895
2007 $24,827,339,138 $138,054,946
2006 $20,885,037,597 $112,338,353
2005 $10,744,568,381 $113,895,437
2004 $8,881,417,907 $104,085,892
2003 $7,632,723,556 $96,105,619
2002 $6,166,197,848 $74,743,869
2001 $5,314,872,854 $64,935,850
2000 $4,982,850,662 $74,910,527
1999 $7,718,109,982 $77,323,978
1998 $7,482,069,162 $74,905,706
1997 $6,891,443,192 $80,205,807
1996 $6,932,991,739 $81,456,854
1995 $6,464,382,808 $68,596,395
1994 $5,446,383,727 $67,055,334
1993 $5,968,922,939 $58,953,596
1992 $6,416,103,926 $61,491,369
1991 $6,603,185,268 $41,247,792
1990 $5,889,106,573 $36,534,295
1989 $5,251,858,440 $37,645,319
1988 $5,197,765,032 $38,278,810
1987 $5,074,829,932 $29,554,413
1986 $5,735,677,434 $25,993,009
1985 $4,504,306,723 $26,126,615
1984 $4,412,279,843 $34,394,167
1983 $4,057,275,132 $31,000,546
1982 $4,035,994,398 $32,742,713
1981 $4,222,441,860 $35,267,489
1980 $4,445,228,216 $33,157,723
1979 $4,020,227,920 $34,466,197
1978 $3,662,478,185 $36,563,965
1977 $3,189,428,571 $31,335,459
1976 $2,765,254,237 $33,246,817
1975 $2,810,106,383 $44,547,454
1974 $2,894,409,938 $69,256,489
1973 $3,006,766,758 $25,645,040
1972 $2,112,293,280 $15,314,346
1971 $2,417,108,578 $12,356,134
1970 $2,215,028,588 $11,560,877
1969 $1,962,050,556 -
1968 $1,666,909,518 -
1967 $1,747,187,645 -
1966 $2,126,300,672 -
1965 $2,053,462,968 -
1964 $1,731,296,200 -
1963 $1,540,797,589 -
1962 $1,382,515,654 -
1961 $1,302,674,325 -
1960 $1,217,230,095 -

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

GeoRank.org/economy/ghana/kiribati | CC BY

GDP per capita in Ghana vs Kiribati by year

Ghana
GDP per capita

GDP per capita, PPP
Kiribati
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ghana Kiribati
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,391 $8,020 $2,289 $3,702
2023 $2,384 $7,556 $2,178 $3,486
2022 $2,230 $7,208 $2,070 $3,329
2021 $2,445 $6,608 $2,222 $3,020
2020 $2,195 $6,047 $1,752 $2,711
2019 $2,187 $6,003 $1,751 $2,763
2018 $2,195 $5,536 $1,913 $2,672
2017 $2,012 $5,171 $1,853 $2,562
2016 $1,912 $5,011 $1,743 $2,463
2015 $1,723 $5,191 $1,640 $2,311
2014 $1,950 $5,517 $1,737 $2,084
2013 $2,295 $5,215 $1,772 $2,049
2012 $1,544 $4,934 $1,844 $1,896
2011 $1,507 $4,381 $1,771 $1,786
2010 $1,264 $3,855 $1,522 $1,724
2009 $1,048 $3,617 $1,317 $1,718
2008 $1,183 $3,516 $1,411 $1,735
2007 $1,050 $3,241 $1,353 $1,792
2006 $906 $3,103 $1,123 $1,728
2005 $479 $2,904 $1,162 $1,617
2004 $406 $2,729 $1,083 $1,579
2003 $358 $2,584 $1,021 $1,578
2002 $297.5 $2,475 $810 $1,605
2001 $263.5 $2,397 $719 $1,591
2000 $253.7 $2,315 $845 $1,638
1999 $403 $2,239 $887 $1,526
1998 $400 $2,167 $874 $1,593
1997 $378 $2,097 $953 $1,535
1996 $389 $2,026 $986 $1,519
1995 $372 $1,947 $844 $1,518
1994 $321 $1,875 $838 $1,469
1993 $360 $1,821 $748 $1,431
1992 $396 $1,739 $792 $1,421
1991 $418 $1,678 $540 $1,139
1990 $383 $1,581 $488 $1,192
1989 $350 - $515 -
1988 $355 - $536 -
1987 $355 - $424 -
1986 $411 - $382 -
1985 $330 - $393 -
1984 $330 - $527 -
1983 $311 - $483 -
1982 $319 - $519 -
1981 $344 - $568 -
1980 $372 - $542 -
1979 $347 - $573 -
1978 $326 - $611 -
1977 $292.3 - $520 -
1976 $261 - $548 -
1975 $273 - $730 -
1974 $289.4 - $1,131 -
1973 $310 - $422 -
1972 $223.8 - $256.2 -
1971 $263.4 - $210.7 -
1970 $248.2 - $201 -
1969 $225.8 - - -
1968 $196.7 - - -
1967 $211.2 - - -
1966 $263.3 - - -
1965 $260.5 - - -
1964 $225 - - -
1963 $205 - - -
1962 $188.4 - - -
1961 $181.9 - - -
1960 $174.9 - - -

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

GeoRank.org/economy/ghana/kiribati | CC BY

Ghana's GDP per capita is $2,391, ranking 151/197, compared to $2,289 in Kiribati, ranking 152/197. Adjusted for purchasing power (GDP per capita PPP), Ghana ranks 140th at $8,020, while Kiribati ranks 169th at $3,702.

Economic indicators

Ghana Kiribati
Gross domestic product
$82.3B
2024
$308M
2024
GDP rank
80/197
2024
192/197
2024
GDP growth
5.59%
2023-2024
5.27%
2023-2024
GDP per capita
$2,391
2024
$2,289
2024
GDP per capita rank
151/197
2024
152/197
2024
GDP per capita, PPP
$8,020
2024
$3,702
2024
GDP per capita PPP rank
140/197
2024
169/197
2024
Government debt
$57.9B
2024
$30.5M
2024
Debt-to-GDP ratio
70.3%
2024
9.92%
2024
Government debt per person
$1,682
2024
$226.9
2024
Government debt per person rank
123/185
2024
181/185
2024
Average annual personal income after taxes
$2,110
2026
$1,967
2026
Market capitalization of domestic companies
$7.58B
2024
n/a
Income share by richest 10%
32.2%
2016
22.8%
2019
Income share by poorest 10%
1.6%
2016
4%
2019
Government expenditure, % of GDP
23.2%
2024
98.1%
2024
Consumer prices inflation
22.8%
2023-2024
2.5%
2023-2024
Central bank interest rate
25%
2025
n/a
Unemployment rate
2.87%
2022
2.79%
2023
Population
35885254
139020

Spending and national debt comparison by year

Ghana
Spending

Debt
Kiribati
Spending

Debt
1x
Year % of GDP
Ghana Kiribati
Government spending Government debt Government spending Government debt
2024 23.2% 70.3% 98.1% 9.92%
2023 18.5% 79.1% 95.3% 11.4%
2022 27.5% 92.7% 87.5% 16.3%
2021 27.2% 86.9% 84% 17.3%
2020 31.5% 79.1% 102.2% 21%
2019 22.5% 62.9% 108.3% 19%
2018 20.9% 62% 108.8% 19%
2017 17.6% 57% 92.1% 20.2%
2016 19.9% 55.9% 99% 21.2%
2015 18.6% 53.9% 90.9% 18.8%
2014 21% 50.1% 101.2% 8.97%
2013 21.6% 42.9% 78% 8.86%
2012 22.1% 35.5% 83.9% 8.13%
2011 19.5% 31.2% 80.9% 8.8%
2010 19% 32.9% 75.7% 9.43%
2009 16.6% 25.4% 74.7% 10.3%
2008 16.6% 23.2% 79.4% 13.9%
2007 16.8% 21.1% 77.3% 11.1%
2006 14.4% 17.3% 82.1% 12.9%
2005 12.9% 31.7% 95.6% 12.1%
2004 13.7% 38.4% 103.8% 13.6%
2003 12.1% 49.3% 84.4% 12.3%
2002 10.7% 54.1% 96.9% 13.3%
2001 13.8% 57.8% 101.3% 17%
2000 12% 74.5% 66% 12.7%
1999 11.1% 51.7% 77.6% 11.8%
1998 11.8% 37.6% 74.7% 9.81%
1997 12% 45.2% 70.9% 10.7%
1996 12.4% 42.9% 68.4% 11%
1995 13% 47.6% 69.6% 12.3%
1994 12.7% 50.6% 54.6% 12.3%
1993 12.1% 34.1% 55.3% 10.9%
1992 9.2% 21.3% 65.9% 7.31%
1991 7.09% 17.3% 82.1% 8.43%
1990 6.59% 17.8% 105.5% 7.72%
1989 7.24% 23% - -
1988 7.23% 23.5% - -
1987 7.32% 26.8% - -
1986 7.29% 18.2% - -
1985 6.08% 14.4% - -
1984 4.64% 13% - -
1983 3.49% 9.21% - -
1982 4.73% 8.51% - -
1981 5.74% 8.77% - -
1980 7.51% 9.75% - -
1979 9.14% 11.5% - -
1978 6.54% 11.4% - -
1977 10.5% 20.7% - -
1976 12.8% 26% - -
1975 13.2% 21.8% - -
1974 9.52% 21.8% - -
1973 9.35% 25.4% - -
1972 11.4% 29.8% - -
1971 11.7% 29.5% - -
1970 12.2% 31.9% - -
1969 11.2% 31.4% - -
1968 12.3% 34.5% - -
1967 11.5% 33.9% - -
1966 9.12% 29.8% - -
1965 14.2% 30.2% - -
1964 15.8% 30.8% - -
1963 15.3% 30.5% - -
1962 12.5% 11.8% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-02-20).

GeoRank.org/economy/ghana/kiribati | CC BY

In 2024, Ghana's government spending was $19.1B, accounting for 23.2% of its GDP, while Kiribati spent $302M, or 98.1% of GDP.

Debt-to-GDP ratio is 70.3% in Ghana and 9.92% in Kiribati, ranking 57/185 and 180/185, respectively.

Government deficit by year

Deficit/surplus
Ghana

Kiribati
1x
Year Deficit/surplus, % of GDP
Ghana Kiribati
2024 -7.31% -22%
2023 -3.37% 0.13%
2022 -11.8% -18.3%
2021 -12% -10.8%
2020 -17.4% 3.57%
2019 -7.52% 10.8%
2018 -6.79% 5.18%
2017 -3.97% 34.1%
2016 -6.75% 20.1%
2015 -4.01% 42.5%
2014 -7.81% 35%
2013 -9.12% 11.8%
2012 -8.36% -5.43%
2011 -5.47% -17.6%
2010 -7.13% -7.8%
2009 -5.05% -8.56%
2008 -5.56% -15.8%
2007 -4.91% -12.5%
2006 -3.11% -12.3%
2005 -1.87% -9.96%
2004 -2.02% -19.2%
2003 -1.99% -8.93%
2002 -2.73% 3.13%
2001 -3.64% -10.9%
2000 -3.98% -0.03%
1999 -5.64% -1.81%
1998 -5.27% 14.6%
1997 -6.14% 5.92%
1996 -5.61% -20.2%
1995 -4.52% -5.14%
1994 -4.99% 0.74%
1993 -5.39% 6.27%
1992 -4.5% 0.79%
1991 -1.47% 3.87%
1990 -1.93% -4.62%
1989 -0.81% -
1988 -1.08% -
1987 -0.92% -
1986 -1.26% -
1985 -1.19% -
1984 -0.98% -
1983 -1.13% -
1982 -2.03% -
1981 -3.8% -
1980 -4.73% -
1979 -3.61% -
1978 -1.21% -
1977 -4.68% -
1976 -5.53% -
1975 -4.05% -
1974 -2.06% -
1973 -2.64% -
1972 -2.19% -
1971 0.13% -
1970 -2.35% -
1969 -2.67% -
1968 -2.34% -
1967 -2.32% -
1966 -1.29% -
1965 -3.29% -
1964 -3.72% -
1963 -5.66% -
1962 -5.04% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-02-20).

GeoRank.org/economy/ghana/kiribati | CC BY

In 2024, Ghana's government deficit, the difference between spending and revenue, was $6.02B, equivalent to 7.31% of GDP. This compares to Kiribati's deficit of $67.7M, or 22% of GDP.

Over the past 35 years, Ghana recorded a fiscal deficit in 35 of those years, while Kiribati ran a deficit in 19 years. On average, Ghana posted an annual deficit equal to 5.69% of GDP, compared to deficit of 0.38% of GDP for Kiribati.

Inflation comparison by year

Inflation
Ghana

Kiribati
1x
Year Consumer prices inflation
Ghana Kiribati
2024 22.8% 2.5%
2023 38.1% 9.3%
2022 31.3% 5.3%
2021 9.97% 2.1%
2020 9.89% 2.6%
2019 7.14% -1.8%
2018 7.81% 0.6%
2017 12.4% 0.4%
2016 17.5% 1.9%
2015 17.1% 0.6%
2014 15.5% 2.1%
2013 11.7% -1.5%
2012 11.2% -3%
2011 8.73% 1.5%
2010 10.7% -3.9%
2009 19.2% 9.8%
2008 16.5% 13.7%
2007 10.7% 3.6%
2006 11.7% -1%
2005 15.4% -0.4%
2004 18% -0.7%
2003 29.8% 1.6%
2002 9.36% 3.2%
2001 41.5% 6%
2000 40.2% 0.4%
1999 4.87% 1.8%
1998 14.6% 3.7%
1997 27.9% 2.6%

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/ghana/kiribati | CC BY

Over the past 28 years, Ghana has recorded an average annual inflation rate of 17.6%, compared with 2.25% in Kiribati. In 2024, inflation was 22.8% in Ghana and 2.5% in Kiribati.

Balance of trade

Ghana Kiribati
Current account balance
$1.68B
2024
-$59.5M
2024
Current account balance ranking
49/190
2024
85/190
2024
Current account balance, % of GDP
+2.04%
2024
-19.3%
2024
Goods imports
$15.4B
2024
$227M
2024
Goods exports
$19.2B
2024
$8.49M
2024
Service imports
$11.5B
2024
$108M
2024
Service exports
$9.27B
2024
$7M
2024
Imports of goods and services, % of GDP
34.3%
2024
94.9%
2024
Exports of goods and services, % of GDP
35.5%
2024
6.27%
2024

Economic freedom indices

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

Ghana Kiribati
Economic freedom 57.3 50.8
Economic freedom ranking 118/197 158/197
Property rights 50.2 69.6
Government integrity 45.4 50.5
Judicial effectiveness 57.5 54.6
Tax burden 79.4 72.6
Government spending 84 0
Fiscal health 10.1 19.8
Business freedom 64.5 60.2
Labor freedom 54.9 65.3
Monetary freedom 56.7 76.7
Trade freedom 65.2 80
Investment freedom 60 30
Financial freedom 60 30

Economic freedom comparison by year

Ghana
Kiribati
1x
Year Economic freedom index
Ghana Kiribati
2026 57.3 50.8
2025 56 50.9
2024 55.8 51.3
2023 58 58.8
2022 59.8 59.2
2021 59.2 44.4
2020 59.4 45.2
2019 57.5 47.3
2018 56 50.8
2017 56.2 50.9
2016 63 46.2
2015 63 46.4
2014 64.2 46.3
2013 61.3 45.9
2012 60.7 46.9
2011 59.4 44.8
2010 60.2 43.7
2009 58.1 45.7
2008 57 -
2007 57.6 -
2006 55.6 -
2005 56.5 -
2004 59.1 -
2003 58.2 -
2002 57.2 -
2001 58 -
2000 58.1 -
1999 57.9 -
1998 57 -
1997 56.7 -
1996 57.7 -
1995 55.6 -

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

GeoRank.org/economy/ghana/kiribati | CC BY

The Economic Freedom Index for Ghana is 57.3, ranking 118/197, compared to 50.8 for Kiribati, ranking 158/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Ghana Kiribati
Services, % of GDP
40.9%
2024
67.1%
2023
Industry, % of GDP
31.5%
2024
11.5%
2023
Agriculture, forestry, and fishing, % of GDP
20.9%
2024
27.2%
2023
GNI, Atlas method
$79.5B
2024
$493M
2024
GNI per capita, PPP
$7,720
2024
$6,060
2024
Total reserves including gold
$3.62B
2023
n/a
Total reserves ranking
112/177
2023
n/a
Net foreign direct investment
-$1.76B
2024
-$8.06M
2024
Net inflows of foreign direct investment
$1.77B
2024
$8.07M
2024
Net outflows of foreign direct investment
$5.37M
2024
$16.4K
2024
Servicing debt to the IMF, % of GNI
3.45%
2024
n/a
Poverty at national poverty lines
23.4%
2016
5.5%
2023
Gross capital formation, % of GDP
10%
2024
25.8%
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/ghana/kiribati | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  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.