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Economy of Kenya vs Mali compared: GDP & Debt

Updated on by Georank team

Kenya has a GDP of $120B compared to $26.8B for Mali, ranking 64/197 and 113/197 by economy size, respectively.

Kenya has $81B in government debt (67.3% of GDP), compared to $13.9B (51.7% of GDP) in Mali.

Kenya vs Mali GDP by year

Kenya
Mali
1x
Year GDP, current $
Kenya Mali
2024 $120,339,557,906 $26,794,747,240
2023 $107,500,884,685 $24,813,860,599
2022 $114,448,978,153 $22,539,987,719
2021 $109,703,658,905 $22,999,245,263
2020 $100,657,505,751 $20,698,560,939
2019 $100,378,436,207 $20,477,421,885
2018 $92,202,979,985 $20,368,015,381
2017 $82,036,510,877 $18,308,362,040
2016 $74,815,144,164 $16,743,796,800
2015 $70,120,446,897 $15,583,181,170
2014 $68,285,796,514 $17,081,681,993
2013 $61,671,440,408 $15,747,192,681
2012 $56,396,704,672 $14,795,114,603
2011 $46,869,473,151 $15,452,791,789
2010 $45,405,615,064 $12,710,739,159
2009 $42,347,217,913 $12,155,217,833
2008 $35,895,153,328 $11,462,490,840
2007 $31,958,195,182 $9,699,047,443
2006 $25,825,512,284 $8,212,007,554
2005 $18,737,895,513 $7,429,066,951
2004 $16,095,337,094 $6,485,774,930
2003 $14,904,517,650 $5,605,613,011
2002 $13,147,736,899 $4,647,238,257
2001 $12,986,007,426 $4,124,281,594
2000 $12,705,350,098 $3,521,570,876
1999 $12,896,010,459 $4,091,446,054
1998 $14,093,998,844 $3,894,433,432
1997 $13,115,764,358 $3,414,879,486
1996 $12,045,865,396 $3,743,103,420
1995 $9,046,320,255 $3,373,322,735
1994 $7,148,148,564 $2,655,768,636
1993 $5,751,786,643 $3,632,801,877
1992 $8,209,120,763 $3,680,775,037
1991 $8,151,488,783 $3,576,562,682
1990 $8,572,359,038 $3,248,417,791
1989 $8,283,114,514 $2,824,822,489
1988 $8,355,380,879 $2,712,207,901
1987 $7,970,820,369 $2,437,004,680
1986 $7,239,126,568 $2,132,938,007
1985 $6,135,034,214 $1,594,347,021
1984 $6,191,437,070 $1,387,809,615
1983 $5,979,198,314 $1,496,616,127
1982 $6,431,579,357 $1,680,304,773
1981 $6,854,491,706 $2,234,583,940
1980 $7,265,315,820 $2,704,362,789
1979 $6,234,391,113 $1,595,422,956
1978 $5,303,735,111 $1,222,702,573
1977 $4,494,378,764 $1,049,838,548
1976 $3,474,542,392 $939,228,017
1975 $3,259,345,083 $830,710,615
1974 $2,969,958,812 $538,747,340
1973 $2,509,001,324 $563,683,703
1972 $2,107,279,157 $486,617,280
1971 $1,778,391,289 $395,218,629
1970 $1,603,447,359 $359,772,315
1969 $1,458,379,417 $339,913,867
1968 $1,353,295,459 $343,771,973
1967 $1,232,559,507 $275,494,478
1966 $1,164,519,674 -
1965 $997,919,321 -
1964 $998,759,334 -
1963 $926,589,349 -
1962 $868,111,401 -
1961 $792,959,473 -
1960 $791,265,459 -

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

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

GDP per capita in Kenya vs Mali by year

Kenya
GDP per capita

GDP per capita, PPP
Mali
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kenya Mali
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,132 $6,644 $1,095 $3,315
2023 $1,943 $6,317 $1,044 $3,175
2022 $2,110 $5,883 $977 $3,014
2021 $2,061 $5,339 $1,027 $2,796
2020 $1,928 $4,793 $953 $2,724
2019 $1,960 $4,687 $972 $2,820
2018 $1,836 $4,412 $996 $2,684
2017 $1,667 $4,177 $924 $2,607
2016 $1,554 $3,917 $872 $2,532
2015 $1,489 $3,678 $838 $2,330
2014 $1,483 $3,359 $948 $2,185
2013 $1,371 $3,106 $902 $2,059
2012 $1,285 $2,847 $873 $1,990
2011 $1,096 $2,750 $938 $2,046
2010 $1,092 $2,635 $797 $2,012
2009 $1,048 $2,480 $787 $1,945
2008 $916 $2,459 $767 $1,893
2007 $840 $2,481 $671 $1,852
2006 $700 $2,330 $587 $1,832
2005 $523 $2,189 $549 $1,771
2004 $464 $2,066 $495 $1,730
2003 $443 $1,975 $442 $1,715
2002 $403 $1,940 $378 $1,581
2001 $411 $1,961 $346 $1,559
2000 $415 $1,907 $305 $1,357
1999 $434 $1,910 $364 $1,376
1998 $488 $1,895 $357 $1,332
1997 $467 $1,865 $321 $1,267
1996 $441 $1,875 $360 $1,224
1995 $340 $1,818 $331 $1,154
1994 $276.4 $1,754 $266.5 $1,147
1993 $229 $1,723 $372 $1,087
1992 $337 $1,728 $385 $1,039
1991 $345 $1,756 $382 $1,091
1990 $374 $1,729 $354 $956
1989 $374 - $314 -
1988 $391 - $307 -
1987 $387 - $280.7 -
1986 $364 - $250 -
1985 $320 - $190.4 -
1984 $334 - $169.1 -
1983 $335 - $186.3 -
1982 $374 - $213.8 -
1981 $413 - $290.5 -
1980 $454 - $359 -
1979 $403 - $216.3 -
1978 $355 - $169.1 -
1977 $311 - $148.1 -
1976 $248.9 - $134.9 -
1975 $241.2 - $121.5 -
1974 $227.2 - $80.2 -
1973 $198.6 - $85.4 -
1972 $172.6 - $75.1 -
1971 $150.9 - $62 -
1970 $141 - $57.3 -
1969 $133.3 - $55 -
1968 $128.7 - $56.5 -
1967 $121.9 - $46 -
1966 $119.8 - - -
1965 $106.9 - - -
1964 $111.3 - - -
1963 $107.4 - - -
1962 $104.6 - - -
1961 $99.3 - - -
1960 $102.8 - - -

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

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

Kenya's GDP per capita is $2,132, ranking 154/197, compared to $1,095 in Mali, ranking 173/197. Adjusted for purchasing power (GDP per capita PPP), Kenya ranks 149th at $6,644, while Mali ranks 174th at $3,315.

Economic indicators

Kenya Mali
Gross domestic product
$120B
2024
$26.8B
2024
GDP rank
64/197
2024
113/197
2024
GDP growth
4.72%
2023-2024
4.99%
2023-2024
GDP per capita
$2,132
2024
$1,095
2024
GDP per capita rank
154/197
2024
173/197
2024
GDP per capita, PPP
$6,644
2024
$3,315
2024
GDP per capita PPP rank
149/197
2024
174/197
2024
Government debt
$81B
2024
$13.9B
2024
Debt-to-GDP ratio
67.3%
2024
51.7%
2024
Government debt per person
$1,436
2024
$566
2024
Government debt per person rank
133/185
2024
161/185
2024
Average annual personal income after taxes
$3,229
2026
$1,463
2026
Market capitalization of domestic companies
$15B
2024
n/a
Income share by richest 10%
30.1%
2022
28.3%
2021
Income share by poorest 10%
2.9%
2022
3.2%
2021
Government expenditure, % of GDP
23.3%
2024
24.7%
2024
Consumer prices inflation
4.49%
2023-2024
3.2%
2023-2024
Central bank interest rate
9.25%
2025
n/a
Unemployment rate
5.44%
2022
5.45%
2023
Population
58955623
26143152

Spending and national debt comparison by year

Kenya
Spending

Debt
Mali
Spending

Debt
1x
Year % of GDP
Kenya Mali
Government spending Government debt Government spending Government debt
2024 23.3% 67.3% 24.7% 51.7%
2023 22.7% 73.4% 24.8% 51.9%
2022 23.2% 67.8% 24.4% 50.3%
2021 24% 68.2% 26.9% 51.6%
2020 24.8% 68% 26.1% 47.3%
2019 24.4% 59.1% 23.1% 40.7%
2018 24.5% 56.4% 20.3% 37.5%
2017 25.2% 53.9% 22.9% 38.2%
2016 25.4% 50.4% 22.3% 37.2%
2015 23.8% 45.8% 20.9% 30.7%
2014 23.4% 41.3% 20% 26.9%
2013 23.2% 39.8% 19.8% 26.4%
2012 22.1% 37.6% 15.5% 25.4%
2011 20.1% 35.7% 20.6% 24%
2010 21.5% 36.7% 20.3% 25.3%
2009 20.3% 36% 22.8% 21.9%
2008 18.9% 34.3% 18.8% 20.1%
2007 18.1% 34.2% 21.5% 18.5%
2006 17.3% 37.1% 22.1% 18.1%
2005 16.2% 37.4% 21.6% 46.6%
2004 15.4% 40.8% 21.8% 42.4%
2003 16% 43.8% 20.8% 44.1%
2002 15.7% 42% 19.9% 42.6%
2001 14.9% 41.3% 18.3% 77.5%
2000 14.1% 43.1% 19.4% 90.5%
1999 13.7% 38.4% - -
1998 15.3% 38.5% - -
1997 15.6% 36% - -
1996 15.2% 40.5% - -
1995 17.3% 52.1% - -
1994 18.8% 57% - -
1993 18.9% 61.6% - -
1992 17.6% 41.2% - -
1991 16.4% 43% - -
1990 17.2% 37.6% - -
1989 16.3% 33.4% - -
1988 15.9% 33.9% - -
1987 15.5% 36.3% - -
1986 15.3% 31.3% - -
1985 15.6% 28.8% - -
1984 14.9% 25.6% - -
1983 14.6% 26.1% - -
1982 16.2% 26.9% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1997, retrieved 2026-02-20).

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

In 2024, Kenya's government spending was $28B, accounting for 23.3% of its GDP, while Mali spent $6.61B, or 24.7% of GDP.

Debt-to-GDP ratio is 67.3% in Kenya and 51.7% in Mali, ranking 64/185 and 102/185, respectively.

Government deficit by year

Deficit/surplus
Kenya

Mali
1x
Year Deficit/surplus, % of GDP
Kenya Mali
2024 -5.77% -2.57%
2023 -5.71% -3.57%
2022 -6.06% -4.75%
2021 -7.2% -4.91%
2020 -8.13% -5.42%
2019 -7.42% -1.68%
2018 -6.94% -4.74%
2017 -7.4% -2.86%
2016 -7.47% -3.95%
2015 -6.68% -1.82%
2014 -5.75% -2.89%
2013 -5.25% -2.37%
2012 -5.29% -0.96%
2011 -3.64% -3.42%
2010 -3.67% -2.57%
2009 -3.12% -3.71%
2008 -1.95% -1.97%
2007 -0.95% -2.78%
2006 -0.43% 27.8%
2005 -0.19% -2.76%
2004 0.5% -2.36%
2003 -0.73% -1.19%
2002 -1.29% -3.09%
2001 -0.53% -2.8%
2000 0.38% -2.64%
1999 0.84% -
1998 -0.03% -
1997 -0.91% -
1996 -0.49% -
1995 -0.23% -
1994 -4.14% -
1993 -8.57% -
1992 -8.28% -
1991 -6.56% -
1990 -3.28% -
1989 -2.39% -
1988 -1.97% -
1987 -2.27% -
1986 -2.98% -
1985 -3.05% -
1984 -2.55% -
1983 -2.17% -
1982 -3.07% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20).

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

In 2024, Kenya's government deficit, the difference between spending and revenue, was $6.94B, equivalent to 5.77% of GDP. This compares to Mali's deficit of $687M, or 2.57% of GDP.

Over the past 25 years, Kenya recorded a fiscal deficit in 23 of those years, while Mali ran a deficit in 24 years. On average, Kenya posted an annual deficit equal to 4.03% of GDP, compared to deficit of 1.76% of GDP for Mali.

Inflation comparison by year

Inflation
Kenya

Mali
1x
Year Consumer prices inflation
Kenya Mali
2024 4.49% 3.2%
2023 7.67% 2.1%
2022 7.66% 9.7%
2021 6.11% 3.8%
2020 5.41% 0.5%
2019 5.24% -3%
2018 4.69% 1.9%
2017 8.01% 2.4%
2016 6.3% -1.8%
2015 6.58% 1.4%
2014 6.88% 0.9%
2013 5.72% -0.6%
2012 9.38% 5.3%
2011 14% 3%
2010 3.96% 1.2%
2009 9.23% 2.4%
2008 26.2% 9.2%
2007 9.76% 1.4%
2006 14.5% 1.6%
2005 10.3% 6.4%
2004 11.6% -3.1%
2003 9.82% -1.3%
2002 1.96% 5%
2001 5.74% 5.2%
2000 9.98% -0.8%
1999 5.74% -1.2%
1998 6.72% 4.1%
1997 11.4% -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/kenya/mali | CC BY

Over the past 28 years, Kenya has recorded an average annual inflation rate of 8.39%, compared with 2.08% in Mali. In 2024, inflation was 4.49% in Kenya and 3.2% in Mali.

Top exports between countries

Kenya
Export category Export value
Raw agricultural goods $524K
Chemicals & pharma $413K
Animal & marine products $399K
Textiles & consumer goods $322K
Machinery & equipment $155K
Raw materials & minerals $130K
Wood & paper products $26K
Processed food, beverages & tobacco $23K
Metals $2K
Miscellaneous $1K
Mali
Export category Export value
Machinery & equipment $41K
Chemicals & pharma $1K
Precious metals & jewellery $1K
Textiles & consumer goods $1K

Balance of trade

Kenya Mali
Current account balance
-$1.55B
2024
-$1.61B
2023
Current account balance ranking
134/190
2024
136/190
2023
Current account balance, % of GDP
-1.29%
2024
-6.49%
2023
Goods imports
$22.2B
2024
$5.73B
2023
Goods exports
$12.5B
2024
$5.65B
2023
Service imports
$5.64B
2024
$2.34B
2023
Service exports
$8.04B
2024
$475M
2023
Imports of goods and services, % of GDP
23.1%
2024
27.3%
2024
Exports of goods and services, % of GDP
17.1%
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.

Kenya Mali
Economic freedom 55.5 52.1
Economic freedom ranking 128/197 150/197
Property rights 40.2 13.8
Government integrity 32.7 23.2
Judicial effectiveness 47 23.3
Tax burden 76.3 67.9
Government spending 84.1 81.8
Fiscal health 36.2 73.6
Business freedom 61.5 40.8
Labor freedom 56.5 54.1
Monetary freedom 75.1 78.2
Trade freedom 52 64
Investment freedom 55 65
Financial freedom 50 40

Economic freedom comparison by year

Kenya
Mali
1x
Year Economic freedom index
Kenya Mali
2026 55.5 52.1
2025 54.8 52.6
2024 53.6 52.5
2023 52.5 54.5
2022 52.6 55.9
2021 54.9 55.6
2020 55.3 55.9
2019 55.1 58.1
2018 54.7 57.6
2017 53.5 58.6
2016 57.5 56.5
2015 55.6 56.4
2014 57.1 55.5
2013 55.9 56.4
2012 57.5 55.8
2011 57.4 56.3
2010 57.5 55.6
2009 58.7 55.6
2008 59.3 55.6
2007 59.6 54.7
2006 59.7 54.1
2005 57.9 57.3
2004 57.7 56.6
2003 58.6 58.6
2002 58.2 61.1
2001 57.6 60.1
2000 59.7 60.3
1999 58.2 58.4
1998 58.4 57.3
1997 60.1 56.4
1996 56.4 57
1995 54.5 52.4

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

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

The Economic Freedom Index for Kenya is 55.5, ranking 128/197, 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

Kenya Mali
Services, % of GDP
55.3%
2024
36.3%
2024
Industry, % of GDP
16.5%
2024
23.5%
2024
Agriculture, forestry, and fishing, % of GDP
22.5%
2024
33.3%
2024
GNI, Atlas method
$118B
2024
$25.2B
2024
GNI per capita, PPP
$6,540
2024
$3,230
2024
Total reserves including gold
$10.1B
2024
n/a
Total reserves ranking
75/177
2024
n/a
Net foreign direct investment
-$45.8M
2024
-$673M
2023
Net inflows of foreign direct investment
$463M
2024
$921M
2024
Net outflows of foreign direct investment
$418M
2024
$78.1M
2024
Servicing debt to the IMF, % of GNI
4.79%
2024
1.41%
2024
Poverty at national poverty lines
39.8%
2022
43.3%
2024
Gross capital formation, % of GDP
16.8%
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/kenya/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) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1982–1997, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2020–2024, 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.