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Economy of Iran vs Liberia compared: GDP & Debt

Updated on by Georank team

Iran has a GDP of $475B compared to $4.78B for Liberia, ranking 34/197 and 163/197 by economy size, respectively.

Iran has $162B in government debt (34% of GDP), compared to $2.73B (57.2% of GDP) in Liberia.

Iran vs Liberia GDP by year

Iran
Liberia
1x
Year GDP, current $
Iran Liberia
2024 $475,252,089,215 $4,779,300,900
2023 $457,510,482,317 $4,390,000,000
2022 $422,662,261,526 $4,001,047,000
2021 $407,350,685,583 $3,513,049,500
2020 $280,934,329,280 $3,176,126,300
2019 $347,988,400,958 $3,319,596,500
2018 $411,903,303,606 $3,422,754,800
2017 $510,239,893,418 $3,390,703,400
2016 $478,618,064,871 $3,398,419,600
2015 $409,191,686,497 $3,227,075,700
2014 $462,284,793,281 $3,225,652,000
2013 $500,399,839,840 $3,177,198,100
2012 $644,019,315,004 $2,791,614,000
2011 $629,082,257,472 $2,398,000,000
2010 $487,069,570,464 $1,998,000,000
2009 $414,059,094,949 $1,768,000,000
2008 $406,070,949,554 $1,726,000,000
2007 $349,736,591,832 $1,373,000,000
2006 $265,602,187,404 $1,119,000,000
2005 $224,970,371,325 $949,000,000
2004 $187,754,571,248 $897,000,000
2003 $151,911,222,119 $748,000,000
2002 $128,626,917,504 $927,000,000
2001 $126,878,750,296 $906,000,000
2000 $109,591,707,802 $874,000,000
1999 $113,848,450,088 $441,800,000
1998 $110,276,913,363 $359,600,000
1997 $113,919,163,421 $295,900,000
1996 $120,403,931,885 $159,400,000
1995 $96,419,225,744 $134,800,000
1994 $71,841,461,173 $132,200,000
1993 $63,743,623,232 $160,400,000
1992 $119,768,691,217 $223,500,000
1991 $131,637,664,958 $348,000,000
1990 $124,813,263,926 $384,400,000
1989 $120,496,362,916 $786,300,000
1988 $123,057,861,334 $1,038,300,000
1987 $134,009,995,923 $972,800,000
1986 $209,094,561,833 $840,964,400
1985 $180,183,629,600 $851,296,100
1984 $162,276,728,620 $848,478,300
1983 $156,365,156,618 $823,374,900
1982 $125,948,756,439 $863,933,200
1981 $100,499,312,750 $846,514,500
1980 $94,362,275,580 $854,711,500
1979 $90,391,877,326 $814,067,900
1978 $77,994,316,621 $717,240,400
1977 $80,600,122,702 $673,010,600
1976 $68,055,295,081 $596,675,700
1975 $51,776,222,350 $577,549,300
1974 $46,209,092,072 $486,955,000
1973 $27,081,698,250 $386,968,300
1972 $17,153,463,263 $368,098,000
1971 $13,731,802,833 $341,543,100
1970 $10,976,245,154 $323,099,700
1969 $9,743,089,607 $306,961,800
1968 $8,623,172,960 $276,820,700
1967 $7,555,383,690 $261,024,300
1966 $6,789,938,672 $244,459,500
1965 $6,197,319,929 $229,260,800
1964 $5,379,845,648 $218,929,100
1963 $4,928,628,018 $200,229,600
1962 $4,693,566,416 $191,861,800
1961 $4,426,949,095 $183,920,900
1960 $4,199,134,390 $190,495,600

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

GeoRank.org/economy/iran/liberia | CC BY

GDP per capita in Iran vs Liberia by year

Iran
GDP per capita

GDP per capita, PPP
Liberia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Iran Liberia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $5,190 $19,874 $851 $1,871
2023 $5,049 $18,917 $799 $1,795
2022 $4,721 $17,546 $745 $1,692
2021 $4,605 $15,884 $668 $1,539
2020 $3,203 $15,119 $617 $1,660
2019 $3,997 $13,928 $658 $1,900
2018 $4,783 $15,324 $692 $1,800
2017 $6,001 $15,719 $699 $1,665
2016 $5,711 $15,195 $715 $1,490
2015 $4,953 $14,274 $693 $1,340
2014 $5,672 $16,065 $707 $1,419
2013 $6,223 $16,215 $711 $1,360
2012 $8,114 $17,021 $638 $1,157
2011 $8,026 $19,275 $568 $1,041
2010 $6,291 $18,628 $492 $980
2009 $5,416 $17,615 $448 $939
2008 $5,377 $17,549 $452 $915
2007 $4,688 $17,384 $374 $873
2006 $3,619 $15,907 $321 $815
2005 $3,132 $15,016 $287.5 $774
2004 $2,672 $14,425 $284.1 $745
2003 $2,209 $13,755 $239.8 $716
2002 $1,891 $12,554 $299.5 $1,013
2001 $1,881 $11,533 $300 $987
2000 $1,650 $11,187 $298.5 $965
1999 $1,740 $10,489 $156.6 $762
1998 $1,709 $10,285 $134.7 $652
1997 $1,790 $10,101 $122.6 $548
1996 $1,915 $9,916 $71.4 $282.2
1995 $1,550 $9,255 $62.1 $254.4
1994 $1,168 $8,951 $61.5 $262.6
1993 $1,038 $8,933 $74.4 $328
1992 $1,957 $8,888 $107.8 $497
1991 $2,194 $8,580 $177.9 $793
1990 $2,138 $7,566 $172.9 $787
1989 $2,125 - $312 -
1988 $2,234 - $424 -
1987 $2,513 - $409 -
1986 $4,064 - $364 -
1985 $3,634 - $380 -
1984 $3,395 - $390 -
1983 $3,397 - $391 -
1982 $2,845 - $422 -
1981 $2,393 - $426 -
1980 $2,368 - $443 -
1979 $2,352 - $435 -
1978 $2,101 - $394 -
1977 $2,243 - $381 -
1976 $1,954 - $347 -
1975 $1,532 - $346 -
1974 $1,409 - $299.4 -
1973 $851 - $244.4 -
1972 $555 - $238.6 -
1971 $457 - $227.1 -
1970 $377 - $220.3 -
1969 $345 - $214.7 -
1968 $314 - $198.6 -
1967 $283.7 - $192.2 -
1966 $262.9 - $184.6 -
1965 $247.5 - $177.6 -
1964 $221.7 - $173.9 -
1963 $209.6 - $163.1 -
1962 $205.8 - $160.3 -
1961 $200.1 - $157.5 -
1960 $195.6 - $167.2 -

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

GeoRank.org/economy/iran/liberia | CC BY

Iran's GDP per capita is $5,190, ranking 119/197, compared to $851 in Liberia, ranking 184/197. Adjusted for purchasing power (GDP per capita PPP), Iran ranks 97th at $19,874, while Liberia ranks 188th at $1,871.

Economic indicators

Iran Liberia
Gross domestic product
$475B
2024
$4.78B
2024
GDP rank
34/197
2024
163/197
2024
GDP growth
3.66%
2023-2024
4.02%
2023-2024
GDP per capita
$5,190
2024
$851
2024
GDP per capita rank
119/197
2024
184/197
2024
GDP per capita, PPP
$19,874
2024
$1,871
2024
GDP per capita PPP rank
97/197
2024
188/197
2024
Government debt
$162B
2024
$2.73B
2024
Debt-to-GDP ratio
34%
2024
57.2%
2024
Government debt per person
$1,764
2024
$487
2024
Government debt per person rank
122/185
2024
167/185
2024
Average annual personal income after taxes
$2,964
2026
$1,191
2026
Market capitalization of domestic companies
$172B
2024
n/a
Income share by richest 10%
28.2%
2023
27.1%
2016
Income share by poorest 10%
2.8%
2023
2.9%
2016
Government expenditure, % of GDP
14.2%
2024
24.3%
2024
Consumer prices inflation
32.5%
2023-2024
8.2%
2023-2024
Central bank interest rate
23%
2023
n/a
Unemployment rate
7.63%
2024
5.93%
2017
Population
93468444
5887000

Spending and national debt comparison by year

Iran
Spending

Debt
Liberia
Spending

Debt
1x
Year % of GDP
Iran Liberia
Government spending Government debt Government spending Government debt
2024 14.2% 34% 24.3% 57.2%
2023 12.8% 29.6% 27.1% 57.8%
2022 12.8% 34.5% 26.9% 54.3%
2021 13.4% 39.9% 29.8% 53.3%
2020 12.1% 47.1% 35.3% 58.7%
2019 13.6% 44.6% 32.3% 48.6%
2018 14.8% 41.6% 32.7% 37.1%
2017 16.4% 43.2% 35.1% 31.8%
2016 16.3% 45.9% 35.8% 28.6%
2015 14.1% 32.1% 37.1% 24.8%
2014 12.3% 10.9% 33.4% 24.3%
2013 11.5% 10.2% 27.4% 20.6%
2012 11.4% 11.7% 30.8% 20.5%
2011 14.6% 10.6% 30.1% 22.7%
2010 14.1% 12.8% 25.2% 25.6%
2009 15.7% 11.5% 23.7% 130.9%
2008 16.8% 10.6% 21.6% 233.1%
2007 14.2% 13.5% 17.2% 394%
2006 18.7% 15.2% 11.1% 472%
2005 17.9% 18.3% 12.8% 535%
2004 15.1% 21.1% 12.1% 543%
2003 15.7% 21.9% 9.85% 658%
2002 15.6% 23.4% 13.2% 481%
2001 13.6% 21% 12.6% 484%
2000 13.3% 18.2% 15.2% 489%
1999 15.7% 22.2% - -
1998 16.9% 29.6% - -
1997 17.4% 30.9% - -
1996 17.3% 29.3% - -
1995 21% 31.2% - -
1994 23% 41.7% - -
1993 27.2% 25.6% - -
1992 14.4% 25.2% - -
1991 14% 29.3% - -
1990 16.4% 37% - -
1989 20% 48.8% - -
1988 23.6% 53.2% - -
1987 18.6% 48.6% - -
1986 19% 47.4% - -
1985 21.6% 8.73% - -
1984 23.7% 10% - -
1983 27.5% 35.7% - -
1982 29.7% 47.7% - -
1981 33.7% 47.6% - -
1980 35.8% 35.5% - -
1979 - - - -
1978 - - - -
1977 - 9.23% - -
1976 - 6.92% - -
1975 - 8.81% - -
1974 - 6.68% - -
1973 - 12.8% - -
1972 - 12.7% - -
1971 - 14.2% - -
1970 - 14.1% - -
1969 - - - -
1968 23.6% - - -
1967 22.3% - - -
1966 20.5% - - -
1965 16.3% 14.9% - -
1964 15.4% 15.2% - -
1963 14.8% 12.4% - -
1962 15.6% 13.4% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1995, retrieved 2026-02-20).

GeoRank.org/economy/iran/liberia | CC BY

In 2024, Iran's government spending was $67.5B, accounting for 14.2% of its GDP, while Liberia spent $1.16B, or 24.3% of GDP.

Debt-to-GDP ratio is 34% in Iran and 57.2% in Liberia, ranking 147/185 and 91/185, respectively.

Government deficit by year

Deficit/surplus
Iran

Liberia
1x
Year Deficit/surplus, % of GDP
Iran Liberia
2024 -3.83% -1.98%
2023 -2.54% -7.03%
2022 -2.64% -5.33%
2021 -3.01% -2.5%
2020 -4.87% -4.02%
2019 -4.3% -4.92%
2018 -1.59% -4.7%
2017 -1.55% -7.14%
2016 -1.7% -3.83%
2015 -1.3% -3.74%
2014 -0.91% -4.92%
2013 -0.72% 1.29%
2012 -0.5% -2.86%
2011 -0.66% -4.43%
2010 -0.84% 1.17%
2009 -3.3% -1.39%
2008 -4.39% -2.68%
2007 -2.41% 2.44%
2006 -4.91% 4.42%
2005 -2.44% -0.55%
2004 -2.45% -0.56%
2003 -2.76% 0.39%
2002 -2.88% -1.63%
2001 0.02% -0.98%
2000 5.42% -0.08%
1999 -0.51% -
1998 -5.03% -
1997 -1.81% -
1996 -0.75% -
1995 -2.63% -
1994 -3.36% -
1993 -5.15% -
1992 -0.86% -
1991 -1.64% -
1990 -1.73% -
1989 -4.45% -
1988 -10.3% -
1987 -6.84% -
1986 -7.84% -
1985 -3.74% -
1984 -4.02% -
1983 -6.15% -
1982 -5.55% -
1981 -10.7% -
1980 -14.2% -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 -4.57% -
1967 -4% -
1966 -2.63% -
1965 -1.23% -
1964 -0.04% -
1963 0.26% -
1962 -1.39% -

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/iran/liberia | CC BY

In 2024, Iran's government deficit, the difference between spending and revenue, was $18.2B, equivalent to 3.83% of GDP. This compares to Liberia's deficit of $94.6M, or 1.98% of GDP.

Over the past 25 years, Iran recorded a fiscal deficit in 23 of those years, while Liberia ran a deficit in 20 years. On average, Iran posted an annual deficit equal to 2.04% of GDP, compared to deficit of 2.22% of GDP for Liberia.

Inflation comparison by year

Inflation
Iran

Liberia
1x
Year Consumer prices inflation
Iran Liberia
2024 32.5% 8.2%
2023 44.6% 10.1%
2022 43.5% 7.6%
2021 43.4% 7.8%
2020 30.6% 17%
2019 39.9% 27%
2018 18% 23.5%
2017 8.04% 12.4%
2016 7.25% 8.8%
2015 12.5% 7.7%
2014 16.6% 9.9%
2013 36.6% 7.6%
2012 27.3% 6.8%
2011 26.3% 8.5%
2010 10.1% 7.3%
2009 13.6% 7.4%
2008 25.4% 17.5%
2007 17.3% 11.4%
2006 10% 9.5%
2005 13.4% 6.9%
2004 14.8% 3.6%
2003 16.5% 10.3%
2002 14.3% 14.2%
2001 11.3% 12.1%
2000 14.5% 5.3%
1999 20.1% 2%
1998 17.9% -
1997 17.3% -

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06); International Monetary Fund (IMF) | World Economic Outlook (1999–2024, retrieved 2026-02-20).

GeoRank.org/economy/iran/liberia | CC BY

Over the past 26 years, Iran has recorded an average annual inflation rate of 21.9%, compared with 10.4% in Liberia. In 2024, inflation was 32.5% in Iran and 8.2% in Liberia.

Top exports between countries

Iran
Export category Export value
Animal & marine products $47K
Machinery & equipment $19K
Processed food, beverages & tobacco $11K
Liberia
Export category Export value

Balance of trade

Iran Liberia
Current account balance
$12.5B
2000
$64.8M
2022
Current account balance ranking
22/190
2000
73/190
2022
Current account balance, % of GDP
+11.4%
2000
+1.62%
2022
Goods imports
$15.2B
2000
$1.53B
2022
Goods exports
$28.3B
2000
$1.03B
2022
Service imports
$2.3B
2000
$434M
2022
Service exports
$1.38B
2000
$192M
2022
Imports of goods and services, % of GDP
28.5%
2024
n/a
Exports of goods and services, % of GDP
23.6%
2024
28.5%
2025

Economic freedom indices

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

Iran Liberia
Economic freedom 41.8 49.8
Economic freedom ranking 185/197 163/197
Property rights 20.2 40.4
Government integrity 16.2 25.8
Judicial effectiveness 18.7 23.4
Tax burden 81.3 86.1
Government spending 94.7 79.5
Fiscal health 83.3 56.9
Business freedom 37.4 38
Labor freedom 41.8 43.4
Monetary freedom 42.2 71.4
Trade freedom 55.8 57.4
Investment freedom 5 55
Financial freedom 5 20

Economic freedom comparison by year

Iran
Liberia
1x
Year Economic freedom index
Iran Liberia
2026 41.8 49.8
2025 42.5 48.5
2024 41.2 49.9
2023 42.2 49.6
2022 42.4 47.9
2021 47.2 49.2
2020 49.2 49
2019 51.1 49.7
2018 50.9 50.9
2017 50.5 49.1
2016 43.5 52.2
2015 41.8 52.7
2014 40.3 52.4
2013 43.2 49.3
2012 42.3 48.6
2011 42.1 46.5
2010 43.4 46.2
2009 44.6 48.1
2008 45 -
2007 45 -
2006 45 -
2005 50.5 -
2004 42.8 -
2003 43.2 -
2002 36.4 -
2001 35.9 -
2000 36.1 -
1999 36.8 -
1998 36 -
1997 34.5 -
1996 36.1 -

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

GeoRank.org/economy/iran/liberia | CC BY

The Economic Freedom Index for Iran is 41.8, ranking 185/197, compared to 49.8 for Liberia, ranking 163/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Iran Liberia
Services, % of GDP
49.8%
2024
41.9%
2024
Industry, % of GDP
36.1%
2024
22.7%
2024
Agriculture, forestry, and fishing, % of GDP
10.8%
2024
33.8%
2024
GNI, Atlas method
$469B
2024
$4.28B
2024
GNI per capita, PPP
$19,820
2024
$1,750
2024
Total reserves including gold
$7.69B
1982
$600M
2022
Total reserves ranking
85/177
1982
153/177
2022
Net foreign direct investment
-$39M
2000
-$960M
2022
Net inflows of foreign direct investment
$1.45B
2024
$472M
2024
Net outflows of foreign direct investment
$89.4M
2024
$74.9M
2024
Servicing debt to the IMF, % of GNI
0.08%
2024
3.09%
2024
Poverty at national poverty lines
18.7%
2020
50.9%
2016
Gross capital formation, % of GDP
44.3%
2024
n/a

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/iran/liberia | CC BY

Compare countries by 7 more topics

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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 (1962–1995, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  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.