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Economy of Japan vs Mali compared: GDP & Debt

Updated on by Georank team

Japan has a GDP of $4.03T compared to $26.8B for Mali, ranking 4/197 and 113/197 by economy size, respectively.

Japan has $9.51T in government debt (236.1% of GDP), compared to $13.9B (51.7% of GDP) in Mali.

Japan vs Mali GDP by year

Japan
Mali
1x
Year GDP, current $
Japan Mali
2024 $4,027,597,523,551 $26,794,747,240
2023 $4,213,167,237,906 $24,813,860,599
2022 $4,262,463,317,797 $22,539,987,719
2021 $5,039,148,168,861 $22,999,245,263
2020 $5,054,068,005,376 $20,698,560,939
2019 $5,117,993,853,017 $20,477,421,885
2018 $5,040,880,939,325 $20,368,015,381
2017 $4,930,837,369,151 $18,308,362,040
2016 $5,003,677,627,544 $16,743,796,800
2015 $4,444,930,651,964 $15,583,181,170
2014 $4,896,994,405,353 $17,081,681,993
2013 $5,212,328,181,166 $15,747,192,681
2012 $6,272,362,996,105 $14,795,114,603
2011 $6,233,147,172,341 $15,452,791,789
2010 $5,759,071,769,013 $12,710,739,159
2009 $5,289,493,117,994 $12,155,217,833
2008 $5,106,679,115,127 $11,462,490,840
2007 $4,579,750,920,355 $9,699,047,443
2006 $4,601,663,122,650 $8,212,007,554
2005 $4,831,467,035,390 $7,429,066,951
2004 $4,893,116,005,657 $6,485,774,930
2003 $4,519,561,645,254 $5,605,613,011
2002 $4,182,846,045,874 $4,647,238,257
2001 $4,374,711,694,091 $4,124,281,594
2000 $4,968,359,075,957 $3,521,570,876
1999 $4,635,982,224,064 $4,091,446,054
1998 $4,098,362,709,531 $3,894,433,432
1997 $4,492,448,605,639 $3,414,879,486
1996 $4,923,391,533,852 $3,743,103,420
1995 $5,545,563,663,890 $3,373,322,735
1994 $4,998,797,547,741 $2,655,768,636
1993 $4,536,940,479,038 $3,632,801,877
1992 $3,980,702,922,118 $3,680,775,037
1991 $3,648,065,760,649 $3,576,562,682
1990 $3,185,904,656,664 $3,248,417,791
1989 $3,109,455,047,824 $2,824,822,489
1988 $3,125,724,434,401 $2,712,207,901
1987 $2,580,748,422,781 $2,437,004,680
1986 $2,120,083,812,110 $2,132,938,007
1985 $1,427,019,759,717 $1,594,347,021
1984 $1,345,824,500,837 $1,387,809,615
1983 $1,270,859,919,743 $1,496,616,127
1982 $1,158,731,426,906 $1,680,304,773
1981 $1,245,221,410,764 $2,234,583,940
1980 $1,129,377,244,854 $2,704,362,789
1979 $1,077,910,077,676 $1,595,422,956
1978 $1,035,611,588,217 $1,222,702,573
1977 $737,069,290,928 $1,049,838,548
1976 $598,883,902,156 $939,228,017
1975 $532,861,438,885 $830,710,615
1974 $490,035,789,970 $538,747,340
1973 $441,460,582,536 $563,683,703
1972 $324,933,841,269 $486,617,280
1971 $245,364,056,622 $395,218,629
1970 $217,223,652,719 $359,772,315
1969 $184,298,841,305 $339,913,867
1968 $156,897,496,759 $343,771,973
1967 $132,475,614,227 $275,494,478
1966 $113,046,784,179 -
1965 $97,338,107,606 -
1964 $87,490,590,818 -
1963 $74,379,284,603 -
1962 $64,987,857,542 -
1961 $57,266,758,180 -
1960 $47,419,238,274 -

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

GeoRank.org/economy/japan/mali | CC BY

GDP per capita in Japan vs Mali by year

Japan
GDP per capita

GDP per capita, PPP
Mali
GDP per capita

GDP per capita, PPP
1x
Year Current $
Japan Mali
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $32,487 $52,039 $1,095 $3,315
2023 $33,836 $50,662 $1,044 $3,175
2022 $34,066 $47,192 $977 $3,014
2021 $40,095 $44,355 $1,027 $2,796
2020 $40,029 $42,426 $953 $2,724
2019 $40,416 $42,678 $972 $2,820
2018 $39,751 $42,142 $996 $2,684
2017 $38,834 $41,444 $924 $2,607
2016 $39,375 $40,597 $872 $2,532
2015 $34,961 $40,899 $838 $2,330
2014 $38,475 $39,555 $948 $2,185
2013 $40,899 $39,402 $902 $2,059
2012 $49,145 $37,606 $873 $1,990
2011 $48,760 $36,214 $938 $2,046
2010 $44,968 $35,336 $797 $2,012
2009 $41,309 $33,543 $787 $1,945
2008 $39,876 $35,274 $767 $1,893
2007 $35,779 $35,015 $671 $1,852
2006 $35,992 $33,632 $587 $1,832
2005 $37,813 $32,170 $549 $1,771
2004 $38,299 $30,832 $495 $1,730
2003 $35,387 $29,392 $442 $1,715
2002 $32,821 $28,624 $378 $1,581
2001 $34,406 $27,943 $346 $1,559
2000 $39,169 $27,288 $305 $1,357
1999 $36,610 $25,736 $364 $1,376
1998 $32,424 $25,508 $357 $1,332
1997 $35,638 $25,619 $321 $1,267
1996 $39,150 $24,999 $360 $1,224
1995 $44,198 $23,858 $331 $1,154
1994 $39,934 $22,823 $266.5 $1,147
1993 $36,345 $22,168 $372 $1,087
1992 $31,993 $21,825 $385 $1,039
1991 $29,428 $21,227 $382 $1,091
1990 $25,801 $19,912 $354 $956
1989 $25,266 - $314 -
1988 $25,500 - $307 -
1987 $21,142 - $280.7 -
1986 $17,452 - $250 -
1985 $11,809 - $190.4 -
1984 $11,207 - $169.1 -
1983 $10,652 - $186.3 -
1982 $9,780 - $213.8 -
1981 $10,583 - $290.5 -
1980 $9,669 - $359 -
1979 $9,301 - $216.3 -
1978 $9,012 - $169.1 -
1977 $6,473 - $148.1 -
1976 $5,310 - $134.9 -
1975 $4,776 - $121.5 -
1974 $4,448 - $80.2 -
1973 $4,061 - $85.4 -
1972 $3,031 - $75.1 -
1971 $2,321 - $62 -
1970 $2,101 - $57.3 -
1969 $1,803 - $55 -
1968 $1,553 - $56.5 -
1967 $1,326 - $46 -
1966 $1,144 - - -
1965 $994 - - -
1964 $903 - - -
1963 $776 - - -
1962 $685 - - -
1961 $609 - - -
1960 $509 - - -

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

GeoRank.org/economy/japan/mali | CC BY

Japan's GDP per capita is $32,487, ranking 38/197, compared to $1,095 in Mali, ranking 173/197. Adjusted for purchasing power (GDP per capita PPP), Japan ranks 41st at $52,039, while Mali ranks 174th at $3,315.

Economic indicators

Japan Mali
Gross domestic product
$4.03T
2024
$26.8B
2024
GDP rank
4/197
2024
113/197
2024
GDP growth
0.1%
2023-2024
4.99%
2023-2024
GDP per capita
$32,487
2024
$1,095
2024
GDP per capita rank
38/197
2024
173/197
2024
GDP per capita, PPP
$52,039
2024
$3,315
2024
GDP per capita PPP rank
41/197
2024
174/197
2024
Government debt
$9.51T
2024
$13.9B
2024
Debt-to-GDP ratio
236.1%
2024
51.7%
2024
Government debt per person
$76,704
2024
$566
2024
Government debt per person rank
3/185
2024
161/185
2024
Average annual personal income after taxes
$23,653
2026
$1,463
2026
Market capitalization of domestic companies
$6.31T
2024
n/a
Number of millionaires
2,732,000
2025
n/a
Number of billionaires
42
2025
n/a
Income share by richest 10%
23.9%
2020
28.3%
2021
Income share by poorest 10%
2.4%
2020
3.2%
2021
Government expenditure, % of GDP
39.1%
2024
24.7%
2024
Consumer prices inflation
2.74%
2023-2024
3.2%
2023-2024
Central bank interest rate
0.75%
2025
n/a
Unemployment rate
2.54%
2024
5.45%
2023
Population
122677250
26143152

Spending and national debt comparison by year

Japan
Spending

Debt
Mali
Spending

Debt
1x
Year % of GDP
Japan Mali
Government spending Government debt Government spending Government debt
2024 39.1% 236.1% 24.7% 51.7%
2023 39.2% 240.5% 24.8% 51.9%
2022 41.8% 248.2% 24.4% 50.3%
2021 42.5% 253.7% 26.9% 51.6%
2020 44.5% 258.4% 26.1% 47.3%
2019 37.3% 236.4% 23.1% 40.7%
2018 36.7% 232.4% 20.3% 37.5%
2017 36.7% 231.3% 22.9% 38.2%
2016 37.2% 232.4% 22.3% 37.2%
2015 37.3% 228.3% 20.9% 30.7%
2014 38.4% 233.3% 20% 26.9%
2013 38.8% 229.5% 19.8% 26.4%
2012 38.6% 226.1% 15.5% 25.4%
2011 38.6% 219.2% 20.6% 24%
2010 37.7% 205.9% 20.3% 25.3%
2009 38.7% 198.8% 22.8% 21.9%
2008 34.1% 180.9% 18.8% 20.1%
2007 33.1% 173% 21.5% 18.5%
2006 33.1% 174.1% 22.1% 18.1%
2005 33.5% 174.6% 21.6% 46.6%
2004 33.7% 169.5% 21.8% 42.4%
2003 35% 160% 20.8% 44.1%
2002 35.4% 154.1% 19.9% 42.6%
2001 35.2% 145.1% 18.3% 77.5%
2000 36% 135.6% 19.4% 90.5%
1999 35.6% 129.5% - -
1998 38.6% 116% - -
1997 33.1% 105% - -
1996 33.8% 98.1% - -
1995 33.4% 92.5% - -
1994 32.8% 84.4% - -
1993 32.1% 72.8% - -
1992 30.3% 66.8% - -
1991 29.3% 62.4% - -
1990 29.5% 63.2% - -
1989 29.2% 65.7% - -
1988 29.9% 71.9% - -
1987 30.6% 75.8% - -
1986 30.4% 74.1% - -
1985 30.4% 68.3% - -
1984 31.2% 65.6% - -
1983 31.8% 63.5% - -
1982 31.7% 57.7% - -
1981 31.5% 52.8% - -
1980 33.5% 47.8% - -
1979 33.2% 43.8% - -
1978 32.1% 39% - -
1977 30.4% 31.1% - -
1976 29.1% 26.1% - -
1975 28.5% 20.9% - -
1974 25.5% 16.7% - -
1973 23.3% 15.9% - -
1972 23.1% 16.3% - -
1971 21.8% 12.6% - -
1970 20.2% 11.2% - -
1969 19.8% 11.4% - -
1968 20.1% 11.8% - -
1967 19.9% 11.4% - -
1966 20.8% 11.2% - -
1965 20.4% 9.78% - -
1964 19.8% 8.53% - -
1963 20% 8.66% - -
1962 19.4% 9.01% - -
1961 18.2% 8.44% - -
1960 18.4% 10.4% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1989, retrieved 2026-02-20).

GeoRank.org/economy/japan/mali | CC BY

In 2024, Japan's government spending was $1.57T, accounting for 39.1% of its GDP, while Mali spent $6.61B, or 24.7% of GDP.

Debt-to-GDP ratio is 236.1% in Japan and 51.7% in Mali, ranking 3/185 and 102/185, respectively.

Government deficit by year

Deficit/surplus
Japan

Mali
1x
Year Deficit/surplus, % of GDP
Japan Mali
2024 -1.53% -2.57%
2023 -2.26% -3.57%
2022 -4.21% -4.75%
2021 -6.13% -4.91%
2020 -9.08% -5.42%
2019 -3.04% -1.68%
2018 -2.47% -4.74%
2017 -3.1% -2.86%
2016 -3.6% -3.95%
2015 -3.68% -1.82%
2014 -5.62% -2.89%
2013 -7.61% -2.37%
2012 -8.2% -0.96%
2011 -8.99% -3.42%
2010 -9.08% -2.57%
2009 -9.69% -3.71%
2008 -4.11% -1.97%
2007 -2.9% -2.78%
2006 -3.03% 27.8%
2005 -4.44% -2.76%
2004 -5.31% -2.36%
2003 -7.43% -1.19%
2002 -7.34% -3.09%
2001 -6.2% -2.8%
2000 -7.28% -2.64%
1999 -6.75% -
1998 -10% -
1997 -3.53% -
1996 -4.87% -
1995 -4.3% -
1994 -3.76% -
1993 -2.39% -
1992 0.57% -
1991 1.67% -
1990 1.96% -
1989 1.23% -
1988 0.49% -
1987 -0.36% -
1986 -1.36% -
1985 -1.37% -
1984 -2.62% -
1983 -3.95% -
1982 -3.81% -
1981 -3.85% -
1980 -4.66% -
1979 -5% -
1978 -5.79% -
1977 -4.02% -
1976 -3.89% -
1975 -2.92% -
1974 0.38% -
1973 0.56% -
1972 -0.13% -
1971 1.21% -
1970 1.74% -
1969 1.26% -
1968 0.88% -
1967 0.8% -
1966 -0.34% -
1965 0.48% -
1964 0.85% -
1963 1.08% -
1962 1.49% -
1961 2.58% -
1960 1.85% -
1959 0.97% -
1958 -0.1% -
1957 1.27% -
1956 1.39% -
1955 -0.67% -
1954 0.7% -
1953 1.65% -
1952 2.22% -
1951 5.06% -
1950 6.99% -
1949 12.5% -
1948 7.53% -
1947 6.09% -
1946 - -
1945 - -
1944 - -
1943 0.32% -
1942 -0.13% -
1941 -0.19% -
1940 0.31% -
1939 0.11% -
1938 0.45% -
1937 0.71% -
1936 0.34% -
1935 0.26% -
1934 0.34% -
1933 0.28% -
1932 0.31% -
1931 0.23% -
1930 0.19% -
1929 0.5% -
1928 0.42% -
1927 0.58% -
1926 0.65% -
1925 0.75% -
1924 0.84% -
1923 0.87% -
1922 0.89% -
1921 1.43% -
1920 1.19% -
1919 1.21% -
1918 1.58% -
1917 1.54% -
1916 1.37% -
1915 1.41% -
1914 1.31% -
1913 1.21% -
1912 1.27% -
1911 1.21% -
1910 1.57% -
1909 1.51% -
1908 1.63% -
1907 1.77% -
1906 0.46% -
1905 -0.68% -
1904 -0.81% -
1903 0.19% -
1902 0.44% -
1901 0.21% -
1900 0.53% -
1899 0.2% -
1898 0.6% -
1897 0.33% -
1896 0.88% -
1895 0.28% -
1894 -0.24% -
1893 0.6% -
1892 0.63% -
1891 0.61% -
1890 0.74% -
1889 0.18% -
1888 0.13% -
1887 0.11% -
1886 0.03% -
1885 0.01% -
1884 0.001% -
1883 0.03% -
1882 0.001% -
1881 0.001% -
1880 0.004% -
1879 0.02% -
1878 0.02% -
1877 -0.29% -
1876 -0.42% -
1875 0.005% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1875–1989, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/japan/mali | CC BY

In 2024, Japan's government deficit, the difference between spending and revenue, was $61.6B, equivalent to 1.53% of GDP. This compares to Mali's deficit of $687M, or 2.57% of GDP.

Over the past 25 years, Japan recorded a fiscal deficit in 25 of those years, while Mali ran a deficit in 24 years. On average, Japan posted an annual deficit equal to 5.45% of GDP, compared to deficit of 1.76% of GDP for Mali.

Inflation comparison by year

Inflation
Japan

Mali
1x
Year Consumer prices inflation
Japan Mali
2024 2.74% 3.2%
2023 3.27% 2.1%
2022 2.5% 9.7%
2021 -0.23% 3.8%
2020 -0.02% 0.5%
2019 0.47% -3%
2018 0.99% 1.9%
2017 0.48% 2.4%
2016 -0.13% -1.8%
2015 0.8% 1.4%
2014 2.76% 0.9%
2013 0.34% -0.6%
2012 -0.04% 5.3%
2011 -0.27% 3%
2010 -0.73% 1.2%
2009 -1.35% 2.4%
2008 1.38% 9.2%
2007 0.06% 1.4%
2006 0.25% 1.6%
2005 -0.28% 6.4%
2004 -0.009% -3.1%
2003 -0.26% -1.3%
2002 -0.92% 5%
2001 -0.74% 5.2%
2000 -0.68% -0.8%
1999 -0.34% -1.2%
1998 0.66% 4.1%
1997 1.75% -0.7%

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/japan/mali | CC BY

Over the past 28 years, Japan has recorded an average annual inflation rate of 0.44%, compared with 2.08% in Mali. In 2024, inflation was 2.74% in Japan and 3.2% in Mali.

Top exports between countries

Japan
Export category Export value
Raw materials & minerals $8.79M
Metals $4.21M
Machinery & equipment $602K
Processed food, beverages & tobacco $583K
Chemicals & pharma $274K
Textiles & consumer goods $222K
Miscellaneous $63K
Precious metals & jewellery $2K
Mali
Export category Export value
Machinery & equipment $854K
Raw materials & minerals $278K
Raw agricultural goods $154K
Metals $77K
Animal & marine products $49K
Textiles & consumer goods $2K
Precious metals & jewellery $1K

Balance of trade

Japan Mali
Current account balance
$194B
2024
-$1.61B
2023
Current account balance ranking
3/190
2024
136/190
2023
Current account balance, % of GDP
+4.82%
2024
-6.49%
2023
Goods imports
$719B
2024
$5.73B
2023
Goods exports
$694B
2024
$5.65B
2023
Service imports
$246B
2024
$2.34B
2023
Service exports
$228B
2024
$475M
2023
Imports of goods and services, % of GDP
23.6%
2024
27.3%
2024
Exports of goods and services, % of GDP
22.8%
2024
22.6%
2024

Economic freedom indices

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

Japan Mali
Economic freedom 70.3 52.1
Economic freedom ranking 36/197 150/197
Property rights 94.2 13.8
Government integrity 81.1 23.2
Judicial effectiveness 97.9 23.3
Tax burden 63 67.9
Government spending 52 81.8
Fiscal health 41.7 73.6
Business freedom 77.8 40.8
Labor freedom 65.9 54.1
Monetary freedom 74.3 78.2
Trade freedom 76.2 64
Investment freedom 60 65
Financial freedom 60 40

Economic freedom comparison by year

Japan
Mali
1x
Year Economic freedom index
Japan Mali
2026 70.3 52.1
2025 70.2 52.6
2024 67.5 52.5
2023 69.3 54.5
2022 69.9 55.9
2021 74.1 55.6
2020 73.3 55.9
2019 72.1 58.1
2018 72.3 57.6
2017 69.6 58.6
2016 73.1 56.5
2015 73.3 56.4
2014 72.4 55.5
2013 71.8 56.4
2012 71.6 55.8
2011 72.8 56.3
2010 72.9 55.6
2009 72.8 55.6
2008 73 55.6
2007 72.7 54.7
2006 73.3 54.1
2005 67.3 57.3
2004 64.3 56.6
2003 67.6 58.6
2002 66.7 61.1
2001 70.9 60.1
2000 70.7 60.3
1999 69.1 58.4
1998 70.2 57.3
1997 70.3 56.4
1996 72.6 57
1995 75 52.4

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

GeoRank.org/economy/japan/mali | CC BY

The Economic Freedom Index for Japan is 70.3, ranking 36/197, compared to 52.1 for Mali, ranking 150/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Japan Mali
Services, % of GDP
69.8%
2023
36.3%
2024
Industry, % of GDP
28.6%
2023
23.5%
2024
Agriculture, forestry, and fishing, % of GDP
0.94%
2023
33.3%
2024
GNI, Atlas method
$4.46T
2024
$25.2B
2024
GNI per capita, PPP
$55,490
2024
$3,230
2024
Total reserves including gold
$1.23T
2024
n/a
Total reserves ranking
2/177
2024
n/a
Net foreign direct investment
$191B
2024
-$673M
2023
Net inflows of foreign direct investment
$16.2B
2024
$921M
2024
Net outflows of foreign direct investment
$203B
2024
$78.1M
2024
Servicing debt to the IMF, % of GNI n/a
1.41%
2024
Poverty at national poverty lines
16.1%
2020
43.3%
2024
Gross capital formation, % of GDP
26.2%
2024
19.5%
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/japan/mali | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1875–1989, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, 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)
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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.