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Economy of Guatemala vs Togo compared: GDP & Debt

Updated on by Georank team

Guatemala has a GDP of $113B compared to $10.7B for Togo, ranking 68/197 and 154/197 by economy size, respectively.

Guatemala has $29.8B in government debt (26.3% of GDP), compared to $7.68B (72.1% of GDP) in Togo.

Guatemala vs Togo GDP by year

Guatemala
Togo
1x
Year GDP, current $
Guatemala Togo
2024 $113,199,581,158 $10,651,180,147
2023 $104,368,755,055 $9,816,236,303
2022 $95,641,446,501 $8,646,453,099
2021 $86,455,522,273 $8,541,668,141
2020 $77,719,468,248 $7,486,031,562
2019 $77,172,331,693 $6,992,654,019
2018 $73,328,356,008 $7,029,215,766
2017 $71,653,780,740 $6,387,424,240
2016 $66,053,408,206 $6,071,167,584
2015 $62,186,066,548 $5,755,457,836
2014 $57,852,159,008 $6,393,314,708
2013 $52,996,420,177 $6,021,729,630
2012 $49,593,929,487 $5,413,541,649
2011 $46,876,006,272 $5,422,439,152
2010 $40,676,578,423 $4,746,386,893
2009 $37,126,148,265 $4,721,888,275
2008 $38,503,720,224 $4,578,847,113
2007 $33,567,850,824 $3,759,962,853
2006 $29,744,246,827 $3,320,907,722
2005 $26,783,389,294 $3,221,910,408
2004 $23,577,298,095 $3,191,561,509
2003 $21,576,351,799 $2,987,984,051
2002 $20,444,205,991 $2,410,199,032
2001 $18,405,220,247 $2,093,498,674
2000 $19,288,929,030 $2,106,848,752
1999 $18,318,412,251 $2,226,577,204
1998 $19,395,491,993 $2,241,650,112
1997 $17,790,026,222 $2,116,818,623
1996 $15,674,835,615 $2,069,506,014
1995 $14,655,404,433 $1,849,110,468
1994 $12,983,233,311 $1,387,662,121
1993 $11,400,017,301 $1,741,944,426
1992 $10,440,781,588 $2,390,796,916
1991 $9,406,135,143 $2,262,767,860
1990 $7,650,196,845 $2,299,665,506
1989 $8,410,724,361 $1,910,635,575
1988 $7,841,602,824 $1,947,208,354
1987 $7,084,399,840 $1,763,978,066
1986 $7,231,963,516 $1,498,219,579
1985 $9,721,652,087 $1,076,604,520
1984 $9,470,000,100 $1,014,170,069
1983 $9,050,000,400 $1,081,387,265
1982 $8,716,999,700 $1,160,337,039
1981 $8,607,500,300 $1,359,026,709
1980 $7,878,700,000 $1,604,836,916
1979 $6,902,600,200 $1,259,365,712
1978 $6,070,600,200 $1,164,025,637
1977 $5,480,500,200 $1,097,893,826
1976 $4,365,300,200 $874,681,612
1975 $3,645,900,000 $871,781,687
1974 $3,161,499,900 $791,450,308
1973 $2,569,200,100 $574,030,984
1972 $2,101,300,000 $474,043,922
1971 $1,984,800,000 $404,648,368
1970 $1,904,000,000 $358,665,754
1969 $1,715,399,900 $378,091,810
1968 $1,610,500,000 $341,691,567
1967 $1,453,500,000 $327,215,844
1966 $1,390,700,000 $305,227,595
1965 $1,331,399,900 $264,505,506
1964 $1,299,099,900 $234,572,186
1963 $1,262,800,000 $202,305,865
1962 $1,143,600,000 $186,745,758
1961 $1,076,699,900 $178,497,098
1960 $1,043,599,900 $171,057,069

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

GeoRank.org/economy/guatemala/togo | CC BY

GDP per capita in Guatemala vs Togo by year

Guatemala
GDP per capita

GDP per capita, PPP
Togo
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guatemala Togo
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,150 $14,369 $1,119 $3,365
2023 $5,758 $13,745 $1,055 $3,154
2022 $5,359 $13,014 $951 $2,935
2021 $4,913 $11,825 $962 $2,639
2020 $4,478 $10,947 $863 $2,384
2019 $4,512 $10,756 $826 $2,215
2018 $4,353 $9,947 $851 $2,067
2017 $4,325 $9,560 $793 $1,986
2016 $4,060 $9,201 $773 $1,933
2015 $3,894 $8,934 $751 $1,880
2014 $3,689 $8,237 $856 $1,803
2013 $3,444 $7,700 $827 $1,715
2012 $3,287 $7,258 $762 $1,645
2011 $3,169 $6,784 $784 $1,616
2010 $2,805 $6,510 $705 $1,537
2009 $2,612 $6,377 $721 $1,474
2008 $2,763 $6,435 $719 $1,429
2007 $2,459 $6,238 $608 $1,387
2006 $2,225 $5,833 $553 $1,407
2005 $2,046 $5,486 $551 $1,368
2004 $1,841 $5,263 $560 $1,427
2003 $1,723 $5,081 $538 $1,440
2002 $1,669 $4,969 $445 $1,357
2001 $1,538 $4,822 $397 $1,320
2000 $1,649 $4,715 $410 $1,315
1999 $1,604 $4,557 $445 $1,332
1998 $1,741 $4,437 $461 $1,318
1997 $1,638 $4,287 $448 $1,373
1996 $1,481 $4,143 $452 $1,218
1995 $1,421 $4,055 $419 $1,140
1994 $1,293 $3,886 $329 $1,082
1993 $1,166 $3,756 $414 $925
1992 $1,096 $3,626 $565 $1,057
1991 $1,014 $3,473 $550 $1,107
1990 $848 $3,330 $575 $1,110
1989 $958 - $492 -
1988 $919 - $517 -
1987 $854 - $482 -
1986 $896 - $422 -
1985 $1,238 - $313 -
1984 $1,241 - $304 -
1983 $1,220 - $336 -
1982 $1,204 - $372 -
1981 $1,216 - $451 -
1980 $1,142 - $549 -
1979 $1,026 - $443 -
1978 $925 - $421 -
1977 $856 - $406 -
1976 $697 - $332 -
1975 $595 - $339 -
1974 $529 - $315 -
1973 $441 - $234.4 -
1972 $370 - $198.8 -
1971 $358 - $174.6 -
1970 $353 - $159.8 -
1969 $326 - $174.7 -
1968 $315 - $164.3 -
1967 $291.9 - $163.9 -
1966 $287.3 - $159.1 -
1965 $283 - $142.7 -
1964 $284.2 - $130.1 -
1963 $284.4 - $114.6 -
1962 $265.2 - $107.8 -
1961 $257.2 - $104.8 -
1960 $256.8 - $102.2 -

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

GeoRank.org/economy/guatemala/togo | CC BY

Guatemala's GDP per capita is $6,150, ranking 112/197, compared to $1,119 in Togo, ranking 172/197. Adjusted for purchasing power (GDP per capita PPP), Guatemala ranks 116th at $14,369, while Togo ranks 173rd at $3,365.

Economic indicators

Guatemala Togo
Gross domestic product
$113B
2024
$10.7B
2024
GDP rank
68/197
2024
154/197
2024
GDP growth
3.65%
2023-2024
6.53%
2023-2024
GDP per capita
$6,150
2024
$1,119
2024
GDP per capita rank
112/197
2024
172/197
2024
GDP per capita, PPP
$14,369
2024
$3,365
2024
GDP per capita PPP rank
116/197
2024
173/197
2024
Government debt
$29.8B
2024
$7.68B
2024
Debt-to-GDP ratio
26.3%
2024
72.1%
2024
Government debt per person
$1,619
2024
$807
2024
Government debt per person rank
124/185
2024
149/185
2024
Average annual personal income after taxes
$4,917
2026
$1,661
2026
Income share by richest 10%
34.1%
2023
29.6%
2021
Income share by poorest 10%
1.6%
2023
2.8%
2021
Government expenditure, % of GDP
13.4%
2024
26.4%
2024
Consumer prices inflation
2.87%
2023-2024
2.86%
2023-2024
Central bank interest rate
4%
2025
n/a
Unemployment rate
1.9%
2024
1.97%
2022
Population
19049936
9990340

Spending and national debt comparison by year

Guatemala
Spending

Debt
Togo
Spending

Debt
1x
Year % of GDP
Guatemala Togo
Government spending Government debt Government spending Government debt
2024 13.4% 26.3% 26.4% 72.1%
2023 13.7% 27.2% 26.6% 68.6%
2022 14.3% 29% 26% 67%
2021 13.5% 30.6% 21.8% 64.9%
2020 15.6% 31.5% 23.7% 62.2%
2019 13.4% 26.4% 16.6% 54.9%
2018 13.2% 26.4% 18.8% 58%
2017 12.8% 25.1% 16.3% 57.1%
2016 12.6% 24.9% 22.9% 59.9%
2015 12.6% 24.8% 22.9% 52.4%
2014 13.6% 24.7% 21.9% 44.9%
2013 14% 25% 20.5% 41.1%
2012 14.2% 24.6% 19.1% 34.3%
2011 14.5% 23.8% 18.2% 37%
2010 14.5% 24% 15.1% 33.5%
2009 14.1% 22.8% 14.3% 57.6%
2008 13.3% 19.6% 12.4% 67.3%
2007 13.9% 20.8% 13.7% 70.5%
2006 14.2% 20.9% 14.7% 67.7%
2005 13.2% 20% 13.3% 63.1%
2004 12.9% 20.6% 10.6% 48.7%
2003 14.4% 19.8% 8.88% 50%
2002 13.1% 17.4% 8.42% 54.8%
2001 13.8% 19.1% 10.9% 68.5%
2000 13.6% 18% 11.9% 66.5%
1999 14.6% 22% 11.9% 59.9%
1998 13.2% 19% 12.8% 62.8%
1997 11.2% 18.5% 10.6% 54.4%
1996 9.85% 19.2% 12.4% 60.4%
1995 9.77% 21% 12.7% 64.8%
1994 - - 13.2% 79%
1993 - - 14.8% 58.3%
1992 - - 12.6% 45%
1991 - - 14.6% 46.9%
1990 - - 16.8% 44.7%
1989 - - 16.9% 46.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1989–2004, retrieved 2026-02-20).

GeoRank.org/economy/guatemala/togo | CC BY

In 2024, Guatemala's government spending was $15.1B, accounting for 13.4% of its GDP, while Togo spent $2.81B, or 26.4% of GDP.

Debt-to-GDP ratio is 26.3% in Guatemala and 72.1% in Togo, ranking 161/185 and 54/185, respectively.

Government deficit by year

Deficit/surplus
Guatemala

Togo
1x
Year Deficit/surplus, % of GDP
Guatemala Togo
2024 -0.96% -7.43%
2023 -1.25% -6.73%
2022 -1.7% -8.33%
2021 -1.16% -4.65%
2020 -4.91% -7.05%
2019 -2.24% 1.67%
2018 -1.88% -0.59%
2017 -1.38% -0.21%
2016 -1.11% -7.02%
2015 -1.47% -7.04%
2014 -1.92% -7.11%
2013 -2.16% -5.08%
2012 -2.42% -4.63%
2011 -2.8% -4.48%
2010 -3.28% -1.66%
2009 -3.12% -2.63%
2008 -1.57% -0.59%
2007 -1.4% -1.83%
2006 -1.88% -1.94%
2005 -1.67% -1.67%
2004 -1.05% 0.61%
2003 -2.47% 1.43%
2002 -1.03% -0.28%
2001 -2% -0.72%
2000 -1.88% -3.45%
1999 -2.96% -1.76%
1998 -2.29% -3.25%
1997 -0.79% -0.98%
1996 0.04% -3.26%
1995 -0.53% -2.97%
1994 - -5.37%
1993 - -8.46%
1992 - -2.27%
1991 - -3.52%
1990 - -1.65%
1989 - -2.18%

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

GeoRank.org/economy/guatemala/togo | CC BY

In 2024, Guatemala's government deficit, the difference between spending and revenue, was $1.09B, equivalent to 0.96% of GDP. This compares to Togo's deficit of $791M, or 7.43% of GDP.

Over the past 30 years, Guatemala recorded a fiscal deficit in 29 of those years, while Togo ran a deficit in 27 years. On average, Guatemala posted an annual deficit equal to 1.84% of GDP, compared to deficit of 3.12% of GDP for Togo.

Inflation comparison by year

Inflation
Guatemala

Togo
1x
Year Consumer prices inflation
Guatemala Togo
2024 2.87% 2.86%
2023 6.21% 5.49%
2022 6.89% 7.97%
2021 4.26% 4.19%
2020 3.21% 1.7%
2019 3.7% 0.67%
2018 3.75% 0.93%
2017 4.42% -0.98%
2016 4.45% 1.29%
2015 2.39% 2.59%
2014 3.42% 0.19%
2013 4.34% 1.83%
2012 3.78% 2.58%
2011 6.21% 3.56%
2010 3.86% 1.45%
2009 1.86% 3.71%
2008 11.4% 8.69%
2007 6.82% 0.95%
2006 6.56% 2.23%
2005 9.11% 6.78%
2004 7.58% 0.39%
2003 5.6% -0.93%
2002 8.13% 3.06%
2001 7.29% 3.92%
2000 5.98% 1.86%
1999 5.21% -0.05%
1998 6.61% 0.98%
1997 9.23% 8.25%

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

GeoRank.org/economy/guatemala/togo | CC BY

Over the past 28 years, Guatemala has recorded an average annual inflation rate of 5.54%, compared with 2.72% in Togo. In 2024, inflation was 2.87% in Guatemala and 2.86% in Togo.

Top exports between countries

Guatemala
Export category Export value
Processed food, beverages & tobacco $14.2M
Textiles & consumer goods $52K
Metals $8K
Togo
Export category Export value

Balance of trade

Guatemala Togo
Current account balance
$3.27B
2024
-$20.7M
2020
Current account balance ranking
38/190
2024
79/190
2020
Current account balance, % of GDP
+2.89%
2024
-0.28%
2020
Goods imports
$29.1B
2024
$1.95B
2020
Goods exports
$13.3B
2024
$1.21B
2020
Service imports
$6.45B
2024
$438M
2020
Service exports
$4.65B
2024
$514M
2020
Imports of goods and services, % of GDP
31.5%
2024
38.1%
2024
Exports of goods and services, % of GDP
15.9%
2024
24.4%
2024

Economic freedom indices

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

Guatemala Togo
Economic freedom 63.5 51.6
Economic freedom ranking 79/197 153/197
Property rights 39.1 43.6
Government integrity 25.2 33.3
Judicial effectiveness 26.1 34
Tax burden 91.3 68.9
Government spending 94.3 79.2
Fiscal health 95.9 9.6
Business freedom 65.7 60.1
Labor freedom 52.5 51.9
Monetary freedom 77.3 72.5
Trade freedom 74.6 65.8
Investment freedom 70 60
Financial freedom 50 40

Economic freedom comparison by year

Guatemala
Togo
1x
Year Economic freedom index
Guatemala Togo
2026 63.5 51.6
2025 63.4 52.3
2024 62.4 50.9
2023 62.7 55.3
2022 63.2 57.2
2021 64 57.5
2020 64 54.1
2019 62.6 50.3
2018 63.4 47.8
2017 63 53.2
2016 61.8 53.6
2015 60.4 53
2014 61.2 49.9
2013 60 48.8
2012 60.9 48.3
2011 61.9 49.1
2010 61 47.1
2009 59.4 48.7
2008 59.8 48.9
2007 60.5 49.7
2006 59.1 47.3
2005 59.5 48.2
2004 59.6 47
2003 62.3 46.8
2002 62.3 45.2
2001 65.1 45.3
2000 64.3 46.4
1999 66.2 48.2
1998 65.8 -
1997 65.7 -
1996 63.7 -
1995 62 -

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

GeoRank.org/economy/guatemala/togo | CC BY

The Economic Freedom Index for Guatemala is 63.5, ranking 79/197, compared to 51.6 for Togo, ranking 153/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Guatemala Togo
Services, % of GDP
61.8%
2024
49.2%
2024
Industry, % of GDP
21.7%
2024
20.4%
2024
Agriculture, forestry, and fishing, % of GDP
9.78%
2024
21.3%
2024
GNI, Atlas method
$106B
2024
$10.3B
2024
GNI per capita, PPP
$14,170
2024
$3,380
2024
Total reserves including gold
$24.4B
2024
n/a
Total reserves ranking
57/177
2024
n/a
Net foreign direct investment
-$983M
2024
-$53.1M
2020
Net inflows of foreign direct investment
$1.85B
2024
$83.8M
2024
Net outflows of foreign direct investment
$865M
2024
-$73.4M
2024
Servicing debt to the IMF, % of GNI
1.75%
2024
3.21%
2024
Poverty at national poverty lines
56%
2023
43.8%
2021
Gross capital formation, % of GDP
16.7%
2024
20.8%
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/guatemala/togo | 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 (1989–2004, retrieved 2026-02-20)
  6. TradeMap (2023, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.