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Economy of Kenya vs Zambia compared: GDP & Debt

Updated on by Georank team

Kenya has a GDP of $120B compared to $25.3B for Zambia, ranking 64/197 and 116/197 by economy size, respectively.

Kenya has $81B in government debt (67.3% of GDP), compared to $29.1B (114.9% of GDP) in Zambia.

Kenya vs Zambia GDP by year

Kenya
Zambia
1x
Year GDP, current $
Kenya Zambia
2024 $120,339,557,906 $25,303,185,342
2023 $107,500,884,685 $27,577,956,471
2022 $114,448,978,153 $29,163,782,140
2021 $109,703,658,905 $22,096,416,932
2020 $100,657,505,751 $18,137,764,931
2019 $100,378,436,207 $23,308,667,781
2018 $92,202,979,985 $26,311,507,274
2017 $82,036,510,877 $25,873,601,261
2016 $74,815,144,164 $20,958,412,538
2015 $70,120,446,897 $21,251,216,799
2014 $68,285,796,514 $27,141,023,558
2013 $61,671,440,408 $28,037,239,463
2012 $56,396,704,672 $25,503,060,420
2011 $46,869,473,151 $23,459,515,276
2010 $45,405,615,064 $20,265,559,484
2009 $42,347,217,913 $15,328,342,304
2008 $35,895,153,328 $17,910,858,638
2007 $31,958,195,182 $14,056,957,976
2006 $25,825,512,284 $12,756,858,899
2005 $18,737,895,513 $8,331,870,169
2004 $16,095,337,094 $6,221,110,219
2003 $14,904,517,650 $4,901,869,764
2002 $13,147,736,899 $4,193,850,445
2001 $12,986,007,426 $4,094,441,301
2000 $12,705,350,098 $3,600,632,111
1999 $12,896,010,459 $3,404,284,891
1998 $14,093,998,844 $3,537,741,942
1997 $13,115,764,358 $4,303,288,480
1996 $12,045,865,396 $3,597,220,962
1995 $9,046,320,255 $3,806,983,413
1994 $7,148,148,564 $3,656,806,166
1993 $5,751,786,643 $3,273,505,344
1992 $8,209,120,763 $3,182,810,841
1991 $8,151,488,783 $3,376,806,697
1990 $8,572,359,038 $3,288,381,797
1989 $8,283,114,514 $3,994,673,161
1988 $8,355,380,879 $3,728,878,149
1987 $7,970,820,369 $2,265,250,972
1986 $7,239,126,568 $1,664,413,508
1985 $6,135,034,214 $2,252,454,500
1984 $6,191,437,070 $2,719,518,933
1983 $5,979,198,314 $3,321,048,451
1982 $6,431,579,357 $3,871,117,093
1981 $6,854,491,706 $4,008,126,497
1980 $7,265,315,820 $3,884,530,854
1979 $6,234,391,113 $3,353,445,378
1978 $5,303,735,111 $2,811,032,473
1977 $4,494,378,764 $2,515,296,940
1976 $3,474,542,392 $2,742,859,263
1975 $3,259,345,083 $2,442,672,141
1974 $2,969,958,812 $2,910,981,262
1973 $2,509,001,324 $2,434,255,237
1972 $2,107,279,157 $1,872,416,680
1971 $1,778,391,289 $1,653,259,341
1970 $1,603,447,359 $1,788,779,285
1969 $1,458,379,417 $1,926,399,230
1968 $1,353,295,459 $1,573,739,371
1967 $1,232,559,507 $1,340,639,464
1966 $1,164,519,674 $1,238,999,505
1965 $997,919,321 $1,061,199,576
1964 $998,759,334 $822,639,671
1963 $926,589,349 $704,339,719
1962 $868,111,401 $679,279,729
1961 $792,959,473 $682,359,727
1960 $791,265,459 $698,739,721

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

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

GDP per capita in Kenya vs Zambia by year

Kenya
GDP per capita

GDP per capita, PPP
Zambia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kenya Zambia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,132 $6,644 $1,187 $4,215
2023 $1,943 $6,317 $1,331 $4,077
2022 $2,110 $5,883 $1,447 $3,841
2021 $2,061 $5,339 $1,127 $3,503
2020 $1,928 $4,793 $952 $3,157
2019 $1,960 $4,687 $1,259 $3,361
2018 $1,836 $4,412 $1,464 $3,442
2017 $1,667 $4,177 $1,483 $3,392
2016 $1,554 $3,917 $1,239 $3,313
2015 $1,489 $3,678 $1,296 $3,337
2014 $1,483 $3,359 $1,707 $3,441
2013 $1,371 $3,106 $1,821 $3,477
2012 $1,285 $2,847 $1,710 $3,324
2011 $1,096 $2,750 $1,625 $3,228
2010 $1,092 $2,635 $1,451 $3,098
2009 $1,048 $2,480 $1,136 $2,872
2008 $916 $2,459 $1,376 $2,708
2007 $840 $2,481 $1,119 $2,555
2006 $700 $2,330 $1,052 $2,378
2005 $523 $2,189 $711 $2,213
2004 $464 $2,066 $549 $2,068
2003 $443 $1,975 $446 $1,942
2002 $403 $1,940 $394 $1,837
2001 $411 $1,961 $397 $1,785
2000 $415 $1,907 $359 $1,709
1999 $434 $1,910 $350 $1,654
1998 $488 $1,895 $373 $1,601
1997 $467 $1,865 $466 $1,631
1996 $441 $1,875 $400 $1,585
1995 $340 $1,818 $433 $1,501
1994 $276.4 $1,754 $426 $1,464
1993 $229 $1,723 $391 $1,607
1992 $337 $1,728 $389 $1,505
1991 $345 $1,756 $423 $1,534
1990 $374 $1,729 $422 $1,522
1989 $374 - $526 -
1988 $391 - $504 -
1987 $387 - $315 -
1986 $364 - $238.2 -
1985 $320 - $332 -
1984 $334 - $413 -
1983 $335 - $520 -
1982 $374 - $627 -
1981 $413 - $670 -
1980 $454 - $669 -
1979 $403 - $595 -
1978 $355 - $514 -
1977 $311 - $474 -
1976 $248.9 - $533 -
1975 $241.2 - $490 -
1974 $227.2 - $601 -
1973 $198.6 - $518 -
1972 $172.6 - $410 -
1971 $150.9 - $372 -
1970 $141 - $414 -
1969 $133.3 - $459 -
1968 $128.7 - $387 -
1967 $121.9 - $341 -
1966 $119.8 - $325 -
1965 $106.9 - $287.4 -
1964 $111.3 - $230 -
1963 $107.4 - $203.2 -
1962 $104.6 - $202.3 -
1961 $99.3 - $209.7 -
1960 $102.8 - $221.6 -

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

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

Kenya's GDP per capita is $2,132, ranking 154/197, compared to $1,187 in Zambia, ranking 169/197. Adjusted for purchasing power (GDP per capita PPP), Kenya ranks 149th at $6,644, while Zambia ranks 166th at $4,215.

Economic indicators

Kenya Zambia
Gross domestic product
$120B
2024
$25.3B
2024
GDP rank
64/197
2024
116/197
2024
GDP growth
4.72%
2023-2024
3.82%
2023-2024
GDP per capita
$2,132
2024
$1,187
2024
GDP per capita rank
154/197
2024
169/197
2024
GDP per capita, PPP
$6,644
2024
$4,215
2024
GDP per capita PPP rank
149/197
2024
166/197
2024
Government debt
$81B
2024
$29.1B
2024
Debt-to-GDP ratio
67.3%
2024
114.9%
2024
Government debt per person
$1,436
2024
$1,365
2024
Government debt per person rank
133/185
2024
134/185
2024
Average annual personal income after taxes
$3,229
2026
$1,349
2026
Market capitalization of domestic companies
$15B
2024
$7.77B
2024
Income share by richest 10%
30.1%
2022
39.1%
2022
Income share by poorest 10%
2.9%
2022
1.5%
2022
Government expenditure, % of GDP
23.3%
2024
25.5%
2024
Consumer prices inflation
4.49%
2023-2024
15%
2023-2024
Central bank interest rate
9.25%
2025
14.3%
2025
Unemployment rate
5.44%
2022
5.86%
2023
Population
58955623
22697916

Spending and national debt comparison by year

Kenya
Spending

Debt
Zambia
Spending

Debt
1x
Year % of GDP
Kenya Zambia
Government spending Government debt Government spending Government debt
2024 23.3% 67.3% 25.5% 114.9%
2023 22.7% 73.4% 27.4% 129.1%
2022 23.2% 67.8% 28.2% 99.5%
2021 24% 68.2% 30.5% 111%
2020 24.8% 68% 34% 140%
2019 24.4% 59.1% 29.8% 103.3%
2018 24.5% 56.4% 27.7% 81.2%
2017 25.2% 53.9% 25% 66.6%
2016 25.4% 50.4% 23.9% 61.2%
2015 23.8% 45.8% 27.6% 61.9%
2014 23.4% 41.3% 24.3% 33.9%
2013 23.2% 39.8% 24% 25.9%
2012 22.1% 37.6% 21.9% 24.9%
2011 20.1% 35.7% 19.5% 20.8%
2010 21.5% 36.7% 18.1% 18.9%
2009 20.3% 36% 17.8% 20.5%
2008 18.9% 34.3% 19.5% 19.2%
2007 18.1% 34.2% 19.9% 21.9%
2006 17.3% 37.1% 19.7% 25%
2005 16.2% 37.4% 22.5% 75.7%
2004 15.4% 40.8% 23.3% 129.9%
2003 16% 43.8% 27.3% 159.5%
2002 15.7% 42% 27.6% 180.2%
2001 14.9% 41.3% 28% 210.2%
2000 14.1% 43.1% 21.4% 261%
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/zambia | CC BY

In 2024, Kenya's government spending was $28B, accounting for 23.3% of its GDP, while Zambia spent $6.45B, or 25.5% of GDP.

Debt-to-GDP ratio is 67.3% in Kenya and 114.9% in Zambia, ranking 64/185 and 13/185, respectively.

Government deficit by year

Deficit/surplus
Kenya

Zambia
1x
Year Deficit/surplus, % of GDP
Kenya Zambia
2024 -5.77% -3.32%
2023 -5.71% -5.48%
2022 -6.06% -7.82%
2021 -7.2% -8.13%
2020 -8.13% -13.8%
2019 -7.42% -9.41%
2018 -6.94% -8.31%
2017 -7.4% -7.5%
2016 -7.47% -5.69%
2015 -6.68% -8.88%
2014 -5.75% -5.43%
2013 -5.25% -6.4%
2012 -5.29% -3.16%
2011 -3.64% -1.78%
2010 -3.67% -2.43%
2009 -3.12% -2.06%
2008 -1.95% -0.67%
2007 -0.95% -1.04%
2006 -0.43% 16.9%
2005 -0.19% -2.37%
2004 0.5% -2.51%
2003 -0.73% -5.31%
2002 -1.29% -4.5%
2001 -0.53% -5.89%
2000 0.38% 1.16%
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/zambia | 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 Zambia's deficit of $840M, or 3.32% of GDP.

Over the past 25 years, Kenya recorded a fiscal deficit in 23 of those years, while Zambia ran a deficit in 23 years. On average, Kenya posted an annual deficit equal to 4.03% of GDP, compared to deficit of 4.15% of GDP for Zambia.

Inflation comparison by year

Inflation
Kenya

Zambia
1x
Year Consumer prices inflation
Kenya Zambia
2024 4.49% 15%
2023 7.67% 10.9%
2022 7.66% 11%
2021 6.11% 22%
2020 5.41% 15.7%
2019 5.24% 9.2%
2018 4.69% 7.5%
2017 8.01% 6.6%
2016 6.3% 17.9%
2015 6.58% 10.1%
2014 6.88% 7.8%
2013 5.72% 7%
2012 9.38% 6.6%
2011 14% 8.7%
2010 3.96% 8.5%
2009 9.23% 13.4%
2008 26.2% 12.4%
2007 9.76% 10.7%
2006 14.5% 9%
2005 10.3% 18.3%
2004 11.6% 18%
2003 9.82% 21.4%
2002 1.96% 22.2%
2001 5.74% 21.4%
2000 9.98% 24.1%
1999 5.74% 23.9%
1998 6.72% 22.7%
1997 11.4% 21.4%

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/zambia | CC BY

Over the past 28 years, Kenya has recorded an average annual inflation rate of 8.39%, compared with 14.4% in Zambia. In 2024, inflation was 4.49% in Kenya and 15% in Zambia.

Top exports between countries

Kenya
Export category Export value
Processed food, beverages & tobacco $23.6M
Chemicals & pharma $20.8M
Machinery & equipment $9.91M
Raw materials & minerals $5.88M
Textiles & consumer goods $4.57M
Metals $3.26M
Weapons & explosives $1.52M
Wood & paper products $1.48M
Miscellaneous $888K
Raw agricultural goods $601K
Zambia
Export category Export value
Processed food, beverages & tobacco $35.7M
Raw agricultural goods $12.9M
Metals $5.44M
Animal & marine products $3.02M
Machinery & equipment $1.2M
Textiles & consumer goods $967K
Weapons & explosives $527K
Chemicals & pharma $116K
Raw materials & minerals $115K
Wood & paper products $66K

Balance of trade

Kenya Zambia
Current account balance
-$1.55B
2024
-$487M
2024
Current account balance ranking
134/190
2024
106/190
2024
Current account balance, % of GDP
-1.29%
2024
-1.93%
2024
Goods imports
$22.2B
2024
$10.1B
2024
Goods exports
$12.5B
2024
$11.4B
2024
Service imports
$5.64B
2024
$1.94B
2024
Service exports
$8.04B
2024
$1.38B
2024
Imports of goods and services, % of GDP
23.1%
2024
27.6%
2024
Exports of goods and services, % of GDP
17.1%
2024
35%
2024

Economic freedom indices

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

Kenya Zambia
Economic freedom 55.5 51.9
Economic freedom ranking 128/197 152/197
Property rights 40.2 43.9
Government integrity 32.7 39.3
Judicial effectiveness 47 45
Tax burden 76.3 74.3
Government spending 84.1 78.1
Fiscal health 36.2 30.9
Business freedom 61.5 53.4
Labor freedom 56.5 48.8
Monetary freedom 75.1 66.6
Trade freedom 52 62.8
Investment freedom 55 40
Financial freedom 50 40

Economic freedom comparison by year

Kenya
Zambia
1x
Year Economic freedom index
Kenya Zambia
2026 55.5 51.9
2025 54.8 50.9
2024 53.6 48.4
2023 52.5 47.8
2022 52.6 48.7
2021 54.9 50.4
2020 55.3 53.5
2019 55.1 53.6
2018 54.7 54.3
2017 53.5 55.8
2016 57.5 58.8
2015 55.6 58.7
2014 57.1 60.4
2013 55.9 58.7
2012 57.5 58.3
2011 57.4 59.7
2010 57.5 58
2009 58.7 56.6
2008 59.3 56.2
2007 59.6 56.2
2006 59.7 56.8
2005 57.9 55
2004 57.7 54.9
2003 58.6 55.3
2002 58.2 59.6
2001 57.6 59.5
2000 59.7 62.8
1999 58.2 64.2
1998 58.4 62.7
1997 60.1 62.1
1996 56.4 59.6
1995 54.5 55.1

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

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

The Economic Freedom Index for Kenya is 55.5, ranking 128/197, compared to 51.9 for Zambia, ranking 152/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Kenya Zambia
Services, % of GDP
55.3%
2024
57.2%
2024
Industry, % of GDP
16.5%
2024
35.2%
2024
Agriculture, forestry, and fishing, % of GDP
22.5%
2024
2.83%
2024
GNI, Atlas method
$118B
2024
$25.9B
2024
GNI per capita, PPP
$6,540
2024
$3,850
2024
Total reserves including gold
$10.1B
2024
$4.09B
2024
Total reserves ranking
75/177
2024
106/177
2024
Net foreign direct investment
-$45.8M
2024
-$1.32B
2024
Net inflows of foreign direct investment
$463M
2024
$2.36B
2024
Net outflows of foreign direct investment
$418M
2024
$311M
2024
Servicing debt to the IMF, % of GNI
4.79%
2024
16.9%
2024
Poverty at national poverty lines
39.8%
2022
60%
2022
Gross capital formation, % of GDP
16.8%
2024
23.8%
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/zambia | 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 (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.