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Economy of Israel vs Tonga compared: GDP & Debt

Updated on by Georank team

Israel has a GDP of $540B compared to $591M for Tonga, ranking 29/197 and 191/197 by economy size, respectively.

Israel has $366B in government debt (67.6% of GDP), compared to $256M (37% of GDP) in Tonga.

Israel vs Tonga GDP by year

Israel
Tonga
1x
Year GDP, current $
Israel Tonga
2024 $540,379,921,262 -
2023 $512,184,638,999 $591,139,749
2022 $525,181,008,026 $556,514,555
2021 $489,851,549,972 $519,306,353
2020 $410,768,352,658 $506,571,468
2019 $400,645,216,359 $506,031,239
2018 $376,299,083,108 $493,530,783
2017 $358,451,839,053 $459,976,850
2016 $321,940,971,558 $420,828,262
2015 $303,469,434,072 $437,525,514
2014 $315,017,088,117 $440,997,738
2013 $298,478,070,673 $451,788,498
2012 $263,589,172,712 $471,122,971
2011 $268,094,998,225 $414,143,828
2010 $239,679,036,634 $366,887,375
2009 $213,403,181,853 $312,415,028
2008 $221,231,658,863 $344,438,844
2007 $184,681,214,673 $298,519,623
2006 $158,900,547,825 $292,232,703
2005 $147,519,922,009 $261,823,805
2004 $140,047,984,605 $230,678,011
2003 $131,408,914,824 $202,246,591
2002 $125,332,331,884 $182,764,281
2001 $135,002,039,613 $181,117,230
2000 $136,512,300,542 $204,848,488
1999 $121,417,185,062 $199,208,718
1998 $120,547,409,279 $191,504,893
1997 $119,459,826,347 $214,991,452
1996 $115,116,595,545 $222,100,576
1995 $105,497,418,059 $208,871,666
1994 $90,740,103,829 $195,990,986
1993 $79,855,877,174 $138,489,884
1992 $79,457,685,757 $137,066,291
1991 $70,998,755,007 $132,201,141
1990 $62,016,729,541 $113,563,822
1989 $52,443,479,454 $106,344,855
1988 $52,650,948,910 $106,657,267
1987 $43,049,543,635 $81,667,133
1986 $35,834,154,874 $68,195,856
1985 $28,905,736,367 $60,058,663
1984 $30,645,607,293 $64,248,355
1983 $32,675,755,462 $60,863,964
1982 $29,255,285,401 $62,068,161
1981 $26,882,009,819 $62,242,013
1980 $25,395,256,478 $53,260,077
1979 $22,609,741,060 $44,667,002
1978 $17,701,286,907 $41,567,472
1977 $18,257,113,904 $34,139,388
1976 $15,956,349,550 $30,036,417
1975 $16,141,767,373 $32,506,742
1974 $17,172,607,138 -
1973 $11,902,574,259 -
1972 $9,222,557,539 -
1971 $7,052,544,000 -
1970 $7,406,712,876 -
1969 $6,297,852,761 -
1968 $5,458,427,928 -
1967 $4,762,386,783 -
1966 $4,703,300,098 -
1965 $4,329,084,429 -
1964 $4,024,344,853 -
1963 $3,535,949,089 -
1962 $2,966,154,031 -
1961 $3,708,586,471 -
1960 $3,070,585,807 -

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

GeoRank.org/economy/israel/tonga | CC BY

GDP per capita in Israel vs Tonga by year

Israel
GDP per capita

GDP per capita, PPP
Tonga
GDP per capita

GDP per capita, PPP
1x
Year Current $
Israel Tonga
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $54,177 $57,236 - -
2023 $52,004 $55,171 $5,652 $7,803
2022 $54,950 $53,619 $5,298 $7,296
2021 $52,271 $46,162 $4,923 $6,929
2020 $44,576 $40,955 $4,792 $6,676
2019 $44,251 $41,325 $4,789 $6,473
2018 $42,363 $40,190 $4,675 $6,393
2017 $41,138 $39,471 $4,366 $6,229
2016 $37,672 $38,189 $3,988 $5,920
2015 $36,213 $35,871 $4,124 $5,472
2014 $38,343 $34,816 $4,137 $5,336
2013 $37,034 $34,827 $4,219 $5,120
2012 $33,321 $32,484 $4,384 $4,996
2011 $34,523 $31,314 $3,850 $4,855
2010 $31,439 $29,456 $3,416 $4,465
2009 $28,508 $28,087 $2,914 $4,384
2008 $30,269 $28,084 $3,218 $4,600
2007 $25,721 $28,307 $2,797 $4,316
2006 $22,527 $26,385 $2,750 $4,327
2005 $21,287 $25,701 $2,478 $4,315
2004 $20,568 $26,078 $2,195 $4,235
2003 $19,643 $24,702 $1,936 $4,231
2002 $19,076 $26,101 $1,759 $4,171
2001 $20,966 $25,806 $1,754 $3,955
2000 $21,707 $25,766 $1,995 $3,834
1999 $19,823 $23,415 $1,952 $3,636
1998 $20,189 $22,927 $1,889 $3,527
1997 $20,469 $22,279 $2,136 $3,434
1996 $20,224 $21,672 $2,215 $3,410
1995 $19,026 $20,642 $2,084 $3,347
1994 $16,807 $19,478 $1,957 $3,088
1993 $15,179 $18,218 $1,383 $2,882
1992 $15,510 $17,553 $1,370 $2,716
1991 $14,346 $16,486 $1,323 $2,652
1990 $13,308 $15,721 $1,139 $2,416
1989 $11,608 - $1,070 -
1988 $11,853 - $1,078 -
1987 $9,853 - $830 -
1986 $8,335 - $696 -
1985 $6,829 - $613 -
1984 $7,369 - $656 -
1983 $7,960 - $621 -
1982 $7,258 - $633 -
1981 $6,795 - $636 -
1980 $6,549 - $545 -
1979 $5,972 - $458 -
1978 $4,797 - $428 -
1977 $5,053 - $353 -
1976 $4,516 - $315 -
1975 $4,672 - $349 -
1974 $5,085 - - -
1973 $3,631 - - -
1972 $2,930 - - -
1971 $2,298 - - -
1970 $2,490 - - -
1969 $2,189 - - -
1968 $1,947 - - -
1967 $1,735 - - -
1966 $1,789 - - -
1965 $1,689 - - -
1964 $1,626 - - -
1963 $1,486 - - -
1962 $1,294 - - -
1961 $1,697 - - -
1960 $1,452 - - -

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

GeoRank.org/economy/israel/tonga | CC BY

Israel's GDP per capita is $54,177, ranking 21/197, compared to $5,652 in Tonga, ranking 115/197. Adjusted for purchasing power (GDP per capita PPP), Israel ranks 36th at $57,236, while Tonga ranks 144th at $7,803.

Economic indicators

Israel Tonga
Gross domestic product
$540B
2024
$591M
2023
GDP rank
29/197
2024
191/197
2023
GDP growth
0.87%
2023-2024
2.79%
2022-2023
GDP per capita
$54,177
2024
$5,652
2023
GDP per capita rank
21/197
2024
115/197
2023
GDP per capita, PPP
$57,236
2024
$7,803
2023
GDP per capita PPP rank
36/197
2024
144/197
2023
Government debt
$366B
2024
$256M
2023
Debt-to-GDP ratio
67.6%
2024
37%
2024
Government debt per person
$36,645
2024
$2,445
2023
Government debt per person rank
18/185
2024
111/185
2023
Average annual personal income after taxes
$43,003
2026
$3,886
2026
Market capitalization of domestic companies
$331B
2024
n/a
Number of millionaires
179,905
2025
n/a
Number of billionaires
41
2025
n/a
Income share by richest 10%
26.6%
2021
22%
2021
Income share by poorest 10%
2%
2021
4%
2021
Government expenditure, % of GDP
43.8%
2024
51.3%
2024
Consumer prices inflation
3.07%
2023-2024
3.18%
2023-2024
Central bank interest rate
4.5%
2024
n/a
Unemployment rate
2.9%
2024
1.65%
2023
Population
10290887
103309

Spending and national debt comparison by year

Israel
Spending

Debt
Tonga
Spending

Debt
1x
Year % of GDP
Israel Tonga
Government spending Government debt Government spending Government debt
2024 43.8% 67.6% 51.3% 37%
2023 39.3% 61.3% 48.2% 43.3%
2022 36.9% 60.3% 44.4% 43.2%
2021 40% 67.7% 44.6% 43%
2020 44.8% 71.1% 37.9% 42.6%
2019 38.7% 59.3% 39.9% 42.8%
2018 39.2% 60.1% 39.6% 45.8%
2017 38.3% 59.8% 39.7% 44.7%
2016 37.9% 61.7% 37.2% 49.4%
2015 37.6% 62.8% 37.4% 51.1%
2014 38.3% 64.9% 31.5% 47.4%
2013 39.7% 66% 34.3% 48.9%
2012 39.6% 66.9% 32% 60%
2011 39.3% 67.2% 32.6% 51.9%
2010 39.7% 69% 28.4% 44.7%
2009 41.4% 72.6% 23.9% 39.7%
2008 41.2% 70.2% 24% 34%
2007 40.2% 70.8% 23.2% 37.8%
2006 41.6% 77.7% 25.6% 39.6%
2005 42.3% 85.2% 19.8% 43.3%
2004 43% 88.3% 19.3% 52.2%
2003 45.4% 89.7% 20% 56.2%
2002 50% 87.2% 21.3% 60.7%
2001 46.1% 81.1% 19.1% 53.4%
2000 43.4% 77.2% 20% 43.6%
1999 53.6% 94.8% 18.8% 38.4%
1998 55% 101% - -
1997 52.6% 99.3% - -
1996 53.2% 100.3% - -
1995 52.8% 102.3% - -
1994 41.7% 110.2% - -
1993 42.2% 118.3% - -
1992 44.1% 119.6% - -
1991 34.4% 123.7% - -
1990 46.8% 138.3% - -
1989 47.5% 147.4% - -
1988 46.5% 145.4% - -
1987 52.8% 143.2% - -
1986 55.7% 162.5% - -
1985 65.2% 199% - -
1984 - 284% - -
1983 - 260.5% - -
1982 69.7% - - -
1981 71.8% - - -
1980 69.4% 154.3% - -
1979 70.1% 155.5% - -
1978 62.2% 133.6% - -
1977 69.1% 142% - -
1976 66.3% 97.4% - -
1975 62% 85.1% - -
1974 - 79.8% - -
1973 - 62.1% - -
1972 - 63.9% - -
1971 - - - -
1970 41.6% - - -
1969 41.1% - - -
1968 39.4% - - -
1967 33.9% - - -
1966 29.6% - - -
1965 27.8% - - -
1964 28.2% - - -
1963 26.9% - - -
1962 27.7% - - -
1961 30.3% - - -
1960 30.4% - - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1999–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-02-20).

GeoRank.org/economy/israel/tonga | CC BY

In 2024, Israel's government spending was $237B, accounting for 43.8% of its GDP, while Tonga spent $285M, or 51.3% of GDP.

Debt-to-GDP ratio is 67.6% in Israel and 37% in Tonga, ranking 62/185 and 142/185, respectively.

Government deficit by year

Deficit/surplus
Israel

Tonga
1x
Year Deficit/surplus, % of GDP
Israel Tonga
2024 -8.26% 4.17%
2023 -5.06% 6.14%
2022 0.32% -0.1%
2021 -3.37% -0.87%
2020 -10.7% 5.25%
2019 -3.79% 3.28%
2018 -3.56% 2.92%
2017 -1.13% 3.58%
2016 -1.79% 1.47%
2015 -1.21% -2.75%
2014 -2.29% 6.38%
2013 -4.06% -1.3%
2012 -4.46% -1.74%
2011 -3.43% -6.02%
2010 -3.72% -1.22%
2009 -6.53% 6.85%
2008 -3.5% 2.14%
2007 -0.43% 5.39%
2006 -0.95% 1.34%
2005 -2.74% 4.23%
2004 -3.4% 4.23%
2003 -5.03% 2.37%
2002 -8.22% 2.59%
2001 -4.06% 2.23%
2000 -0.8% 1.35%
1999 -6.26% 1.55%
1998 -7.99% -
1997 -4.84% -
1996 -5.97% -
1995 -4.28% -
1994 -5.62% -
1993 -5.62% -
1992 -8% -
1991 -7.04% -
1990 -9.67% -
1989 -9.03% -
1988 -7.57% -
1987 -7.47% -
1986 -7.51% -
1985 -14.2% -
1984 - -
1983 - -
1982 -13.8% -
1981 -23.5% -
1980 -19.6% -
1979 -16.7% -
1978 -14.7% -
1977 -20.3% -
1976 -19.4% -
1975 -19.6% -
1974 - -
1973 - -
1972 - -
1971 - -
1970 -16% -
1969 -15.3% -
1968 -11.7% -
1967 -7.68% -
1966 -4.35% -
1965 -2.72% -
1964 -3.65% -
1963 -4.41% -
1962 -4.09% -
1961 -5.86% -
1960 -6.62% -
1959 -7.23% -
1958 -8.31% -
1957 -7.17% -
1956 -9.3% -
1955 -4.3% -
1954 -7.84% -
1953 -8.32% -
1952 -7.19% -
1951 -8.13% -
1950 -10.7% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1999–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1950–1999, retrieved 2026-02-20).

GeoRank.org/economy/israel/tonga | CC BY

In 2023, Israel's government deficit, the difference between spending and revenue, was $25.9B, equivalent to 5.06% of GDP. This compares to Tonga's surplus of $36.3M, or 6.14% of GDP.

Over the past 25 years, Israel recorded a fiscal deficit in 24 of those years, while Tonga ran a deficit in 7 years. On average, Israel posted an annual deficit equal to 3.61% of GDP, compared to surplus of 1.97% of GDP for Tonga.

Inflation comparison by year

Inflation
Israel

Tonga
1x
Year Consumer prices inflation
Israel Tonga
2024 3.07% 3.18%
2023 4.23% 6.35%
2022 4.41% 11%
2021 1.48% 5.64%
2020 -0.58% -0.35%
2019 0.82% 1.18%
2018 0.81% 5.03%
2017 0.25% 7.52%
2016 -0.54% 2.58%
2015 -0.62% -1.05%
2014 0.47% 2.51%
2013 1.59% 0.78%
2012 1.68% 1.15%
2011 3.49% 6.27%
2010 2.7% 3.53%
2009 3.37% 1.43%
2008 4.53% 10.4%
2007 0.47% 5.84%
2006 2.05% 6.15%
2005 1.34% 8.67%
2004 -0.42% 11%
2003 0.71% 11.6%
2002 5.8% 10.4%
2001 1.12% 8.29%
2000 1.03% 6.33%
1999 5.19% 4.46%
1998 5.49% 3.27%
1997 8.95% 2.12%

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

GeoRank.org/economy/israel/tonga | CC BY

Over the past 28 years, Israel has recorded an average annual inflation rate of 2.25%, compared with 5.19% in Tonga. In 2024, inflation was 3.07% in Israel and 3.18% in Tonga.

Top exports between countries

Israel
Export category Export value
Machinery & equipment $20K
Tonga
Export category Export value

Balance of trade

Israel Tonga
Current account balance
$15.5B
2024
-$43.5M
2024
Current account balance ranking
21/190
2024
83/190
2024
Current account balance, % of GDP
+2.86%
2024
-7.93%
2023
Goods imports
$96.3B
2024
$232M
2024
Goods exports
$70B
2024
$10.8M
2024
Service imports
$44.4B
2024
$161M
2024
Service exports
$83.7B
2024
$93.6M
2024
Imports of goods and services, % of GDP
26%
2024
64.9%
2023
Exports of goods and services, % of GDP
28.4%
2024
14.7%
2023

Economic freedom indices

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

Israel Tonga
Economic freedom 68.4 58.9
Economic freedom ranking 47/197 107/197
Property rights 73.1 71.1
Government integrity 66.2 45.1
Judicial effectiveness 68.1 64.9
Tax burden 60.2 85.6
Government spending 52 31
Fiscal health 60.8 97.3
Business freedom 72.4 59.2
Labor freedom 56.8 55.9
Monetary freedom 78.2 61
Trade freedom 82.8 75.4
Investment freedom 70 40
Financial freedom 80 20

Economic freedom comparison by year

Israel
Tonga
1x
Year Economic freedom index
Israel Tonga
2026 68.4 58.9
2025 69.9 58.5
2024 70.1 59.2
2023 68.9 60
2022 68 60.8
2021 73.8 57.5
2020 74 58.8
2019 72.8 57.7
2018 72.2 63.1
2017 69.7 63
2016 70.7 59.6
2015 70.5 59.3
2014 68.4 58.2
2013 66.9 56
2012 67.8 57
2011 68.5 55.8
2010 67.7 53.4
2009 67.6 54.1
2008 66.3 -
2007 64.8 -
2006 64.4 -
2005 62.6 -
2004 61.4 -
2003 62.7 -
2002 66.9 -
2001 66.1 -
2000 65.5 -
1999 68.3 -
1998 68 -
1997 62.7 -
1996 62 -
1995 61.5 -

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

GeoRank.org/economy/israel/tonga | CC BY

The Economic Freedom Index for Israel is 68.4, ranking 47/197, compared to 58.9 for Tonga, ranking 107/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Israel Tonga
Services, % of GDP
72.5%
2024
50%
2023
Industry, % of GDP
17.3%
2024
14.9%
2023
Agriculture, forestry, and fishing, % of GDP
1.28%
2024
19%
2023
GNI, Atlas method
$528B
2024
$619M
2023
GNI per capita, PPP
$56,790
2024
$8,400
2023
Total reserves including gold
$215B
2024
$377M
2024
Total reserves ranking
18/177
2024
163/177
2024
Net foreign direct investment
-$4.86B
2024
$13.3M
2024
Net inflows of foreign direct investment
$14.8B
2024
-$12.1M
2024
Net outflows of foreign direct investment
$9.92B
2024
$1.25M
2024
Servicing debt to the IMF, % of GNI n/a
2.76%
2023
Poverty at national poverty lines
22%
2020
20.6%
2021
Gross capital formation, % of GDP
23.4%
2024
25.9%
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/israel/tonga | 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 (1999–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1950–1999, 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)
  8. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)
  9. TradeMap (2021, retrieved 2026-02-08)

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.