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Economy of Kenya vs Paraguay compared: GDP & Debt

Updated on by Georank team

Kenya has a GDP of $120B compared to $44.5B for Paraguay, ranking 64/197 and 98/197 by economy size, respectively.

Kenya has $81B in government debt (67.3% of GDP), compared to $19.9B (44.8% of GDP) in Paraguay.

Kenya vs Paraguay GDP by year

Kenya
Paraguay
1x
Year GDP, current $
Kenya Paraguay
2024 $120,339,557,906 $44,458,118,397
2023 $107,500,884,685 $43,118,053,175
2022 $114,448,978,153 $41,952,910,858
2021 $109,703,658,905 $39,950,899,939
2020 $100,657,505,751 $35,432,178,068
2019 $100,378,436,207 $37,925,338,329
2018 $92,202,979,985 $40,225,448,341
2017 $82,036,510,877 $38,997,129,474
2016 $74,815,144,164 $36,089,700,223
2015 $70,120,446,897 $36,211,447,840
2014 $68,285,796,514 $40,377,929,296
2013 $61,671,440,408 $38,501,122,141
2012 $56,396,704,672 $33,271,921,136
2011 $46,869,473,151 $33,756,238,766
2010 $45,405,615,064 $27,260,886,405
2009 $42,347,217,913 $22,355,151,162
2008 $35,895,153,328 $24,615,267,664
2007 $31,958,195,182 $17,856,393,235
2006 $25,825,512,284 $13,429,430,050
2005 $18,737,895,513 $10,737,500,188
2004 $16,095,337,094 $9,624,440,836
2003 $14,904,517,650 $7,691,367,471
2002 $13,147,736,899 $7,196,260,657
2001 $12,986,007,426 $8,495,806,432
2000 $12,705,350,098 $8,855,705,140
1999 $12,896,010,459 $8,837,070,236
1998 $14,093,998,844 $9,260,481,572
1997 $13,115,764,358 $9,965,225,678
1996 $12,045,865,396 $9,788,391,781
1995 $9,046,320,255 $9,062,131,475
1994 $7,148,148,564 $7,870,982,005
1993 $5,751,786,643 $7,249,533,620
1992 $8,209,120,763 $7,157,424,031
1991 $8,151,488,783 $6,984,367,763
1990 $8,572,359,038 $5,812,114,523
1989 $8,283,114,514 $4,757,732,200
1988 $8,355,380,879 $4,255,683,528
1987 $7,970,820,369 $3,971,044,724
1986 $7,239,126,568 $3,723,993,943
1985 $6,135,034,214 $3,282,449,236
1984 $6,191,437,070 $4,502,462,807
1983 $5,979,198,314 $5,673,248,726
1982 $6,431,579,357 $5,419,411,765
1981 $6,854,491,706 $5,624,515,873
1980 $7,265,315,820 $4,448,087,302
1979 $6,234,391,113 $3,416,777,778
1978 $5,303,735,111 $2,559,857,143
1977 $4,494,378,764 $2,092,158,730
1976 $3,474,542,392 $1,698,960,317
1975 $3,259,345,083 $1,511,420,635
1974 $2,969,958,812 $1,333,475,397
1973 $2,509,001,324 $995,531,746
1972 $2,107,279,157 $769,039,683
1971 $1,778,391,289 $664,571,429
1970 $1,603,447,359 $594,611,111
1969 $1,458,379,417 $556,293,651
1968 $1,353,295,459 $517,650,794
1967 $1,232,559,507 $492,674,603
1966 $1,164,519,674 $465,888,889
1965 $997,919,321 $443,587,302
1964 $998,759,334 $408,349,206
1963 $926,589,349 $383,904,762
1962 $868,111,401 $360,698,413
1961 $792,959,473 $322,053,713
1960 $791,265,459 $288,884,368

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

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

GDP per capita in Kenya vs Paraguay by year

Kenya
GDP per capita

GDP per capita, PPP
Paraguay
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kenya Paraguay
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,132 $6,644 $6,416 $18,524
2023 $1,943 $6,317 $6,300 $17,564
2022 $2,110 $5,883 $6,206 $16,347
2021 $2,061 $5,339 $5,977 $15,406
2020 $1,928 $4,793 $5,365 $14,309
2019 $1,960 $4,687 $5,821 $14,150
2018 $1,836 $4,412 $6,258 $14,139
2017 $1,667 $4,177 $6,152 $13,977
2016 $1,554 $3,917 $5,775 $13,329
2015 $1,489 $3,678 $5,879 $12,679
2014 $1,483 $3,359 $6,652 $12,607
2013 $1,371 $3,106 $6,436 $12,137
2012 $1,285 $2,847 $5,642 $10,954
2011 $1,096 $2,750 $5,805 $11,442
2010 $1,092 $2,635 $4,751 $10,893
2009 $1,048 $2,480 $3,942 $9,802
2008 $916 $2,459 $4,385 $9,867
2007 $840 $2,481 $3,212 $9,179
2006 $700 $2,330 $2,439 $8,561
2005 $523 $2,189 $1,971 $8,007
2004 $464 $2,066 $1,786 $7,686
2003 $443 $1,975 $1,444 $7,276
2002 $403 $1,940 $1,368 $6,924
2001 $411 $1,961 $1,638 $6,916
2000 $415 $1,907 $1,736 $6,937
1999 $434 $1,910 $1,766 $7,080
1998 $488 $1,895 $1,890 $7,227
1997 $467 $1,865 $2,079 $7,299
1996 $441 $1,875 $2,088 $7,040
1995 $340 $1,818 $1,979 $6,966
1994 $276.4 $1,754 $1,760 $6,542
1993 $229 $1,723 $1,662 $6,234
1992 $337 $1,728 $1,683 $5,952
1991 $345 $1,756 $1,685 $5,873
1990 $374 $1,729 $1,440 $5,637
1989 $374 - $1,211 -
1988 $391 - $1,114 -
1987 $387 - $1,069 -
1986 $364 - $1,031 -
1985 $320 - $935 -
1984 $334 - $1,319 -
1983 $335 - $1,710 -
1982 $374 - $1,680 -
1981 $413 - $1,793 -
1980 $454 - $1,457 -
1979 $403 - $1,149 -
1978 $355 - $883 -
1977 $311 - $740 -
1976 $248.9 - $616 -
1975 $241.2 - $562 -
1974 $227.2 - $508 -
1973 $198.6 - $389 -
1972 $172.6 - $308 -
1971 $150.9 - $272.1 -
1970 $141 - $249 -
1969 $133.3 - $238.2 -
1968 $128.7 - $226.8 -
1967 $121.9 - $220.9 -
1966 $119.8 - $213.9 -
1965 $106.9 - $208.7 -
1964 $111.3 - $197 -
1963 $107.4 - $189.9 -
1962 $104.6 - $182.8 -
1961 $99.3 - $167.1 -
1960 $102.8 - $153.4 -

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

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

Kenya's GDP per capita is $2,132, ranking 154/197, compared to $6,416 in Paraguay, ranking 109/197. Adjusted for purchasing power (GDP per capita PPP), Kenya ranks 149th at $6,644, while Paraguay ranks 102nd at $18,524.

Economic indicators

Kenya Paraguay
Gross domestic product
$120B
2024
$44.5B
2024
GDP rank
64/197
2024
98/197
2024
GDP growth
4.72%
2023-2024
4.25%
2023-2024
GDP per capita
$2,132
2024
$6,416
2024
GDP per capita rank
154/197
2024
109/197
2024
GDP per capita, PPP
$6,644
2024
$18,524
2024
GDP per capita PPP rank
149/197
2024
102/197
2024
Government debt
$81B
2024
$19.9B
2024
Debt-to-GDP ratio
67.3%
2024
44.8%
2024
Government debt per person
$1,436
2024
$2,872
2024
Government debt per person rank
133/185
2024
103/185
2024
Average annual personal income after taxes
$3,229
2026
$6,136
2026
Market capitalization of domestic companies
$15B
2024
$313M
1999
Income share by richest 10%
30.1%
2022
35%
2024
Income share by poorest 10%
2.9%
2022
2%
2024
Government expenditure, % of GDP
23.3%
2024
21%
2024
Consumer prices inflation
4.49%
2023-2024
3.84%
2023-2024
Central bank interest rate
9.25%
2025
6%
2024
Unemployment rate
5.44%
2022
5.69%
2024
Population
58955623
7120169

Spending and national debt comparison by year

Kenya
Spending

Debt
Paraguay
Spending

Debt
1x
Year % of GDP
Kenya Paraguay
Government spending Government debt Government spending Government debt
2024 23.3% 67.3% 21% 44.8%
2023 22.7% 73.4% 21.5% 41.1%
2022 23.2% 67.8% 20.2% 40.5%
2021 24% 68.2% 20.4% 37.5%
2020 24.8% 68% 22.6% 36.9%
2019 24.4% 59.1% 20.1% 25.8%
2018 24.5% 56.4% 18.5% 22.3%
2017 25.2% 53.9% 18.1% 19.8%
2016 25.4% 50.4% 17.7% 19.4%
2015 23.8% 45.8% 18% 18.6%
2014 23.4% 41.3% 17.1% 15.6%
2013 23.2% 39.8% 17.1% 13.5%
2012 22.1% 37.6% 17.6% 12.3%
2011 20.1% 35.7% 14.7% 11.1%
2010 21.5% 36.7% 13.3% 13%
2009 20.3% 36% 14.3% 14.9%
2008 18.9% 34.3% 11.8% 16%
2007 18.1% 34.2% 13.1% 16.8%
2006 17.3% 37.1% 14.1% 21%
2005 16.2% 37.4% 14% 28.3%
2004 15.4% 40.8% 14% 36%
2003 16% 43.8% 14.6% 37.5%
2002 15.7% 42% 17.6% 50.5%
2001 14.9% 41.3% 19% 37.1%
2000 14.1% 43.1% 19.6% 33.6%
1999 13.7% 38.4% 19.2% 32%
1998 15.3% 38.5% 18% 22.1%
1997 15.6% 36% 18.1% 18%
1996 15.2% 40.5% 16.9% 16.8%
1995 17.3% 52.1% 15.7% 17.6%
1994 18.8% 57% 14.5% 18.7%
1993 18.9% 61.6% 12.9% 26.6%
1992 17.6% 41.2% 13% 34.4%
1991 16.4% 43% 11.4% 49.4%
1990 17.2% 37.6% 10.5% 67%
1989 16.3% 33.4% 11.8% 52.9%
1988 15.9% 33.9% 9.75% 58.9%
1987 15.5% 36.3% 10.1% 68.7%
1986 15.3% 31.3% 9.25% 57.1%
1985 15.6% 28.8% 11.4% 54.7%
1984 14.9% 25.6% 13% 31%
1983 14.6% 26.1% 13% 22.6%
1982 16.2% 26.9% 13.2% 21.3%
1981 - - 13.3% 17.4%
1980 - - 11.6% 17.4%
1979 - - 11.7% 19.7%
1978 - - 11.9% 20.9%
1977 - - 11.2% 18.8%
1976 - - 9.8% 14.1%
1975 - - 10.5% 12.6%
1974 - - 9.44% 12.5%
1973 - - 11.2% 15.4%
1972 - - 12.5% 18.2%
1971 - - 12.3% 18.9%
1970 - - 13.3% 19.2%
1969 - - 14% -
1968 - - 13.5% -
1967 - - 12.2% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1967–1997, retrieved 2026-02-20).

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

In 2024, Kenya's government spending was $28B, accounting for 23.3% of its GDP, while Paraguay spent $9.33B, or 21% of GDP.

Debt-to-GDP ratio is 67.3% in Kenya and 44.8% in Paraguay, ranking 64/185 and 120/185, respectively.

Government deficit by year

Deficit/surplus
Kenya

Paraguay
1x
Year Deficit/surplus, % of GDP
Kenya Paraguay
2024 -5.77% -2.12%
2023 -5.71% -3.81%
2022 -6.06% -2.64%
2021 -7.2% -3.39%
2020 -8.13% -5.72%
2019 -7.42% -2.44%
2018 -6.94% -1.01%
2017 -7.4% -0.44%
2016 -7.47% -0.37%
2015 -6.68% -0.44%
2014 -5.75% -0.27%
2013 -5.25% -1.16%
2012 -5.29% -0.58%
2011 -3.64% 1.29%
2010 -3.67% 1.54%
2009 -3.12% 0.59%
2008 -1.95% 2.29%
2007 -0.95% 1.27%
2006 -0.43% 0.91%
2005 -0.19% 0.74%
2004 0.5% 1.33%
2003 -0.73% -0.07%
2002 -1.29% -1.89%
2001 -0.53% 0.07%
2000 0.38% -0.55%
1999 0.84% 2.67%
1998 -0.03% 4.28%
1997 -0.91% 3%
1996 -0.49% 2.43%
1995 -0.23% 2.78%
1994 -4.14% 4.59%
1993 -8.57% 4.27%
1992 -8.28% 3.1%
1991 -6.56% 3.41%
1990 -3.28% 7.56%
1989 -2.39% 5.48%
1988 -1.97% 3.01%
1987 -2.27% 2.68%
1986 -2.98% 3.08%
1985 -3.05% 0.85%
1984 -2.55% -0.42%
1983 -2.17% 0.27%
1982 -3.07% 1.52%
1981 - 0.15%
1980 - 3.4%
1979 - 4.13%
1978 - -3.42%
1977 - -0.19%
1976 - -0.06%
1975 - -1.24%
1974 - 1.67%
1973 - -0.91%
1972 - -2.51%
1971 - -1.25%
1970 - -1.26%
1969 - -1.62%
1968 - -2.34%
1967 - -1.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-02-20).

GeoRank.org/economy/kenya/paraguay | 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 Paraguay's deficit of $942M, or 2.12% of GDP.

Over the past 43 years, Kenya recorded a fiscal deficit in 40 of those years, while Paraguay ran a deficit in 17 years. On average, Kenya posted an annual deficit equal to 3.55% of GDP, compared to surplus of 0.88% of GDP for Paraguay.

Inflation comparison by year

Inflation
Kenya

Paraguay
1x
Year Consumer prices inflation
Kenya Paraguay
2024 4.49% 3.84%
2023 7.67% 4.63%
2022 7.66% 9.77%
2021 6.11% 4.79%
2020 5.41% 1.77%
2019 5.24% 2.76%
2018 4.69% 3.98%
2017 8.01% 3.6%
2016 6.3% 4.09%
2015 6.58% 3.13%
2014 6.88% 5.03%
2013 5.72% 2.68%
2012 9.38% 3.68%
2011 14% 8.25%
2010 3.96% 4.65%
2009 9.23% 2.59%
2008 26.2% 10.2%
2007 9.76% 8.13%
2006 14.5% 9.59%
2005 10.3% 6.81%
2004 11.6% 4.32%
2003 9.82% 14.2%
2002 1.96% 10.5%
2001 5.74% 7.27%
2000 9.98% 8.98%
1999 5.74% 6.75%
1998 6.72% 11.6%
1997 11.4% 6.95%

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

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

Over the past 28 years, Kenya has recorded an average annual inflation rate of 8.39%, compared with 6.23% in Paraguay. In 2024, inflation was 4.49% in Kenya and 3.84% in Paraguay.

Top exports between countries

Kenya
Export category Export value
Paraguay
Export category Export value
Machinery & equipment $2.2M
Wood & paper products $9K

Balance of trade

Kenya Paraguay
Current account balance
-$1.55B
2024
-$1.53B
2024
Current account balance ranking
134/190
2024
133/190
2024
Current account balance, % of GDP
-1.29%
2024
-3.44%
2024
Goods imports
$22.2B
2024
$15.8B
2024
Goods exports
$12.5B
2024
$14.9B
2024
Service imports
$5.64B
2024
$2.54B
2024
Service exports
$8.04B
2024
$2.65B
2024
Imports of goods and services, % of GDP
23.1%
2024
39.6%
2024
Exports of goods and services, % of GDP
17.1%
2024
37.2%
2024

Economic freedom indices

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

Kenya Paraguay
Economic freedom 55.5 66.4
Economic freedom ranking 128/197 61/197
Property rights 40.2 44.2
Government integrity 32.7 27.3
Judicial effectiveness 47 38.4
Tax burden 76.3 95.9
Government spending 84.1 86.9
Fiscal health 36.2 83
Business freedom 61.5 72
Labor freedom 56.5 44.1
Monetary freedom 75.1 76.5
Trade freedom 52 78.4
Investment freedom 55 80
Financial freedom 50 70

Economic freedom comparison by year

Kenya
Paraguay
1x
Year Economic freedom index
Kenya Paraguay
2026 55.5 66.4
2025 54.8 65.2
2024 53.6 60.1
2023 52.5 61
2022 52.6 62.9
2021 54.9 62.6
2020 55.3 63
2019 55.1 61.8
2018 54.7 62.1
2017 53.5 62.4
2016 57.5 61.5
2015 55.6 61.1
2014 57.1 62
2013 55.9 61.1
2012 57.5 61.8
2011 57.4 62.3
2010 57.5 61.3
2009 58.7 61
2008 59.3 60
2007 59.6 58.3
2006 59.7 55.6
2005 57.9 53.4
2004 57.7 56.7
2003 58.6 58.2
2002 58.2 59.6
2001 57.6 60.3
2000 59.7 64
1999 58.2 63.7
1998 58.4 65.2
1997 60.1 67.3
1996 56.4 67.1
1995 54.5 65.9

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

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

The Economic Freedom Index for Kenya is 55.5, ranking 128/197, compared to 66.4 for Paraguay, ranking 61/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Kenya Paraguay
Services, % of GDP
55.3%
2024
48.7%
2024
Industry, % of GDP
16.5%
2024
32.5%
2024
Agriculture, forestry, and fishing, % of GDP
22.5%
2024
10.7%
2024
GNI, Atlas method
$118B
2024
$43.7B
2024
GNI per capita, PPP
$6,540
2024
$17,930
2024
Total reserves including gold
$10.1B
2024
$9.89B
2023
Total reserves ranking
75/177
2024
76/177
2023
Net foreign direct investment
-$45.8M
2024
-$335M
2024
Net inflows of foreign direct investment
$463M
2024
$1.1B
2024
Net outflows of foreign direct investment
$418M
2024
$166M
2024
Servicing debt to the IMF, % of GNI
4.79%
2024
4.58%
2024
Poverty at national poverty lines
39.8%
2022
20.1%
2024
Gross capital formation, % of GDP
16.8%
2024
22.8%
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/kenya/paraguay | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1967–1997, 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. TradeMap (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.