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Economy of Kenya vs Zimbabwe compared: GDP & Debt

Updated on by Georank team

Kenya has a GDP of $120B compared to $41.5B for Zimbabwe, ranking 64/197 and 102/197 by economy size, respectively.

Kenya has $78.9B in government debt (70.2% of GDP), compared to $39.3B (56.1% of GDP) in Zimbabwe.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Kenya
GDP, current $

GDP, constant 2015 $
Zimbabwe
GDP, current $

GDP, constant 2015 $
Year GDP
Kenya Zimbabwe
Current $ Constant $ Current $ Constant $
1960 $791,265,459 $6,102,055,404 $1,053,528,036 $4,352,412,133
1961 $792,959,473 $5,627,642,874 $1,097,206,526 $4,627,317,329
1962 $868,111,401 $6,159,869,250 $1,118,172,226 $4,693,694,849
1963 $926,589,349 $6,700,603,529 $1,160,103,724 $4,986,785,325
1964 $998,759,334 $7,033,252,800 $1,217,759,447 $4,931,622,909
1965 $997,919,321 $7,174,557,472 $1,312,105,394 $5,173,793,733
1966 $1,164,519,674 $8,231,266,933 $1,282,403,936 $5,252,597,339
1967 $1,232,559,507 $8,507,938,914 $1,397,715,282 $5,692,082,627
1968 $1,353,295,459 $9,187,101,300 $1,480,355,355 $5,804,224,338
1969 $1,458,379,417 $9,918,323,314 $1,748,891,294 $6,525,587,027
1970 $1,603,447,359 $9,456,581,037 $1,885,168,339 $7,998,095,583
1971 $1,778,391,289 $11,553,473,096 $2,179,828,710 $8,711,332,686
1972 $2,107,279,157 $13,527,086,975 $2,679,096,597 $9,436,967,074
1973 $2,509,001,324 $14,324,722,508 $3,311,043,292 $9,682,773,143
1974 $2,969,958,812 $14,907,110,912 $3,984,194,614 $10,324,271,738
1975 $3,259,345,083 $15,038,621,918 $4,373,532,601 $10,124,887,003
1976 $3,474,542,392 $15,362,548,496 $4,320,576,877 $10,171,951,417
1977 $4,494,378,764 $16,814,892,774 $4,366,610,469 $9,474,084,021
1978 $5,303,735,111 $17,977,221,152 $4,353,822,343 $9,217,627,910
1979 $6,234,391,113 $19,346,227,179 $5,180,102,910 $9,521,536,366
1980 $7,265,315,820 $20,428,063,600 $6,682,278,300 $10,894,607,028
1981 $6,854,491,706 $21,198,925,608 $8,015,464,252 $12,259,202,844
1982 $6,431,579,357 $21,518,282,813 $8,544,060,905 $12,582,146,675
1983 $5,979,198,314 $21,799,967,946 $7,768,031,182 $12,781,612,134
1984 $6,191,437,070 $22,182,604,684 $6,355,369,172 $12,537,820,762
1985 $6,135,034,214 $23,136,581,312 $5,640,137,575 $13,408,495,654
1986 $7,239,126,568 $24,797,222,251 $6,220,698,247 $13,689,943,883
1987 $7,970,820,369 $26,269,459,979 $6,744,657,033 $13,847,479,160
1988 $8,355,380,879 $27,899,002,871 $7,818,774,177 $14,893,292,646
1989 $8,283,114,514 $29,207,563,409 $8,290,553,535 $15,667,709,080
1990 $8,572,359,038 $30,431,959,354 $8,788,301,546 $16,762,655,222
1991 $8,151,488,783 $30,869,676,465 $8,646,000,000 $17,689,930,170
1992 $8,209,120,763 $30,622,875,267 $6,755,000,000 $16,095,082,949
1993 $5,751,786,643 $30,731,034,422 $6,567,250,000 $16,264,301,855
1994 $7,148,148,564 $31,540,116,339 $6,894,250,000 $17,766,348,463
1995 $9,046,320,255 $32,929,842,157 $7,115,000,000 $17,794,425,481
1996 $12,045,865,396 $34,295,389,782 $8,557,500,000 $19,638,059,366
1997 $13,115,764,358 $34,458,259,247 $8,534,000,000 $20,164,466,644
1998 $14,093,998,844 $35,592,009,622 $6,405,250,000 $20,746,271,025
1999 $12,896,010,459 $36,412,543,752 $6,861,500,000 $20,576,588,256
2000 $12,705,350,098 $36,630,908,099 $6,693,250,000 $19,947,126,181
2001 $12,986,007,426 $38,015,522,174 $6,780,750,000 $20,234,268,509
2002 $13,147,736,899 $38,223,413,680 $6,345,250,000 $18,434,630,066
2003 $14,904,517,650 $39,344,305,939 $5,730,500,000 $15,301,651,167
2004 $16,095,337,094 $41,352,557,259 $5,808,500,000 $14,413,001,709
2005 $18,737,895,513 $43,795,114,732 $5,758,250,000 $13,589,857,106
2006 $25,825,512,284 $46,629,751,037 $5,446,750,000 $13,119,457,398
2007 $31,958,195,182 $49,824,229,273 $5,294,750,000 $12,640,170,700
2008 $35,895,153,328 $49,939,962,360 $4,418,000,000 $10,406,779,091
2009 $42,347,217,913 $51,591,446,860 $9,670,750,000 $11,787,972,496
2010 $45,405,615,064 $55,748,929,986 $12,047,750,000 $14,107,304,145
2011 $46,869,473,151 $58,603,891,851 $14,109,000,000 $16,109,683,000
2012 $56,396,704,672 $61,281,315,912 $17,123,500,000 $18,794,430,789
2013 $61,671,440,408 $63,608,687,383 $19,100,750,000 $19,168,343,272
2014 $68,285,796,514 $66,801,914,097 $19,505,500,000 $19,623,972,034
2015 $70,120,446,897 $70,120,446,897 $19,973,250,000 $19,973,250,000
2016 $74,815,144,164 $73,074,983,895 $20,559,250,000 $20,124,206,637
2017 $82,036,510,877 $75,879,571,212 $51,035,657,371 $21,076,969,325
2018 $92,202,979,985 $80,165,208,728 $34,141,666,667 $22,132,908,952
2019 $100,378,436,207 $84,264,984,851 $33,357,695,635 $20,731,353,612
2020 $100,657,505,751 $84,035,138,347 $31,980,334,561 $19,110,793,941
2021 $109,703,658,905 $90,413,816,677 $41,287,673,690 $20,729,099,177
2022 $114,448,978,153 $94,807,911,028 $40,757,561,709 $22,001,713,150
2023 $107,500,884,685 $100,230,916,345 $35,871,779,681 $23,178,995,952
2024 $120,339,557,906 $104,966,566,488 $41,539,411,516 $23,582,865,676

Economic indicators

Kenya Zimbabwe
Gross domestic product
$120B
2024
$41.5B
2024
GDP rank
64/197
2024
102/197
2024
GDP growth
11.9%
2023-2024
15.8%
2023-2024
GDP per capita
$2,132
2024
$2,497
2024
GDP per capita rank
154/197
2024
148/197
2024
GDP per capita, PPP
$6,644
2024
$5,928
2024
Government debt
$78.9B
2024
$39.3B
2024
Debt-to-GDP ratio
70.2%
2026
56.1%
2026
Government debt per person
$1,399
2024
$2,362
2024
Government debt per person rank
134/185
2024
115/185
2024
Average annual personal income after taxes
$2,811
2026
$2,797
2026
Market capitalization of domestic companies
$15B
2024
$2.46B
1999
Number of billionaires n/a
1
2025
Income share by richest 10%
30.1%
2022
40.5%
2019
Income share by poorest 10%
2.9%
2022
1.9%
2019
Government expenditure, % of GDP
23.1%
2026
18.3%
2026
Consumer prices inflation
4.49%
2023-2024
18.2%
2025-2026
Central bank interest rate
9.5%
2025
35%
2024
Unemployment rate
5.44%
2022
9.29%
2023
Population
58648527
17277165

GDP per capita in Kenya vs Zimbabwe

Kenya's GDP per capita is $2,132, ranking 154/197, compared to $2,497 in Zimbabwe, ranking 148/197. Adjusted for purchasing power (GDP per capita PPP), Kenya ranks 149th at $6,644, while Zimbabwe ranks 154th at $5,928.

Kenya
GDP per capita

GDP per capita, PPP
Zimbabwe
GDP per capita

GDP per capita, PPP
Year Current $
Kenya Zimbabwe
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $102.8 - $276.6 -
1961 $99.3 - $279.2 -
1962 $104.6 - $275.7 -
1963 $107.4 - $277.1 -
1964 $111.3 - $281.9 -
1965 $106.9 - $294.3 -
1966 $119.8 - $278.7 -
1967 $121.9 - $294.4 -
1968 $128.7 - $302 -
1969 $133.3 - $346 -
1970 $141 - $361 -
1971 $150.9 - $406 -
1972 $172.6 - $483 -
1973 $198.6 - $579 -
1974 $227.2 - $674 -
1975 $241.2 - $717 -
1976 $248.9 - $687 -
1977 $311 - $677 -
1978 $355 - $665 -
1979 $403 - $779 -
1980 $454 - $949 -
1981 $413 - $1,069 -
1982 $374 - $1,096 -
1983 $335 - $959 -
1984 $334 - $757 -
1985 $320 - $649 -
1986 $364 - $693 -
1987 $387 - $726 -
1988 $391 - $816 -
1989 $374 - $840 -
1990 $374 $1,729 $867 $2,757
1991 $345 $1,756 $831 $2,930
1992 $337 $1,728 $631 $2,651
1993 $229 $1,723 $605 $2,703
1994 $276.4 $1,754 $634 $3,012
1995 $340 $1,818 $648 $3,051
1996 $441 $1,875 $767 $3,372
1997 $467 $1,865 $751 $3,457
1998 $488 $1,895 $552 $3,527
1999 $434 $1,910 $582 $3,491
2000 $415 $1,907 $563 $3,429
2001 $411 $1,961 $566 $3,533
2002 $403 $1,940 $525 $3,238
2003 $443 $1,975 $468 $2,708
2004 $464 $2,066 $470 $2,591
2005 $523 $2,189 $461 $2,496
2006 $700 $2,330 $431 $2,454
2007 $840 $2,481 $414 $2,396
2008 $916 $2,459 $341 $1,987
2009 $1,048 $2,480 $736 $2,233
2010 $1,092 $2,635 $902 $2,661
2011 $1,096 $2,750 $1,038 $3,047
2012 $1,285 $2,847 $1,239 $3,472
2013 $1,371 $3,106 $1,363 $3,784
2014 $1,483 $3,359 $1,373 $3,903
2015 $1,489 $3,678 $1,387 $4,046
2016 $1,554 $3,917 $1,408 $4,275
2017 $1,667 $4,177 $3,445 $10,756
2018 $1,836 $4,412 $2,271 $3,993
2019 $1,960 $4,687 $2,184 $4,166
2020 $1,928 $4,793 $2,060 $4,179
2021 $2,061 $5,339 $2,614 $4,827
2022 $2,110 $5,883 $2,536 $5,396
2023 $1,943 $6,317 $2,195 $5,791
2024 $2,132 $6,644 $2,497 $5,928

Spending and national debt comparison

In 2024, Kenya's government spending was $27.5B, accounting for 23.1% of its GDP, while Zimbabwe's spent $7.74B, or 18.3% of GDP.

Debt-to-GDP ratio is 70.2% in Kenya and 56.1% in Zimbabwe, ranking 52/185 and 91/185, respectively.

Kenya
Government spending

Government debt
Zimbabwe
Government spending

Government debt
Year % of GDP
Kenya Zimbabwe
Government spending Government debt Government spending Government debt
1982 16.2% 26.9% - -
1983 14.6% 26.1% - -
1984 14.9% 25.6% - -
1985 15.6% 28.8% - -
1986 15.3% 31.3% - -
1987 15.5% 36.3% - -
1988 15.9% 33.9% - -
1989 16.3% 33.4% - -
1990 17.2% 37.6% - -
1991 16.4% 43% - -
1992 17.6% 41.2% - -
1993 18.9% 61.6% - -
1994 18.8% 57% - -
1995 17.3% 52.1% - -
1996 15.2% 40.5% - -
1997 15.6% 36% - -
1998 15.3% 38.5% - -
1999 13.7% 38.4% - -
2000 14.1% 43.1% - -
2001 14.9% 41.3% - -
2002 15.7% 42% - -
2003 16% 43.8% - -
2004 15.4% 40.8% - -
2005 16.2% 37.4% 15.5% 33.1%
2006 17.3% 37.1% 8.46% 39.4%
2007 18.1% 34.2% 5.06% 44.7%
2008 18.9% 34.3% 3.75% 61.1%
2009 20.3% 36% 11.7% 58.7%
2010 21.5% 36.7% 18.4% 47.6%
2011 20.1% 35.7% 23.2% 42.9%
2012 22.1% 37.6% 20.6% 38.4%
2013 23.2% 39.8% 20.6% 37%
2014 23.4% 41.3% 20.4% 42.3%
2015 23.8% 45.8% 20.8% 48%
2016 25.4% 50.4% 23.6% 49.9%
2017 25.2% 53.9% 27.9% 68.9%
2018 24.5% 56.4% 20.3% 48.1%
2019 24.4% 59.1% 14.3% 82.3%
2020 24.8% 68% 13.8% 84.5%
2021 24% 68.2% 18.6% 58.2%
2022 23.2% 67.8% 21.5% 99.5%
2023 22.6% 73% 20% 96.6%
2024 22.9% 65.6% 18.6% 94.6%
2025 23% 68.3% 19.1% 58.6%
2026 23.1% 70.2% 18.3% 56.1%

Government deficit by year

In 2024, Kenya's government deficit, the difference between spending and revenue, was -$6.63B, equivalent to -5.51% of GDP. This compares to Zimbabwe's deficit of -$856M, or -2.06% of GDP.

Over the past 20 years, Kenya recorded a fiscal deficit in 20 of those years, while Zimbabwe ran a deficit in 20 years. On average, Kenya posted an annual deficit equal to -4.94% of GDP, compared to deficit of -3.07% of GDP for Zimbabwe.

Deficit/surplus
Kenya

Zimbabwe
Year Deficit/surplus, % of GDP
Kenya Zimbabwe
1982 -3.07% -
1983 -2.17% -
1984 -2.55% -
1985 -3.05% -
1986 -2.98% -
1987 -2.27% -
1988 -1.97% -
1989 -2.39% -
1990 -3.28% -
1991 -6.56% -
1992 -8.28% -
1993 -8.57% -
1994 -4.14% -
1995 -0.23% -
1996 -0.49% -
1997 -0.91% -
1998 -0.03% -
1999 0.84% -
2000 0.38% -
2001 -0.53% -
2002 -1.29% -
2003 -0.73% -
2004 0.5% -
2005 -0.19% -5.12%
2006 -0.43% -2.07%
2007 -0.95% -2.47%
2008 -1.95% -1.77%
2009 -3.12% -2.06%
2010 -3.67% -0.15%
2011 -3.64% -2.45%
2012 -5.29% -0.18%
2013 -5.25% -0.97%
2014 -5.75% -1.02%
2015 -6.68% -2.04%
2016 -7.47% -6.59%
2017 -7.4% -10.4%
2018 -6.94% -5.57%
2019 -7.42% -2.64%
2020 -8.13% -0.49%
2021 -7.2% -3.22%
2022 -6.06% -4.88%
2023 -5.69% -5.32%
2024 -5.51% -2.06%
2025 -5.38% -0.5%
2026 -4.97% 0.44%

Inflation comparison by year

Over the past 28 years, Kenya has recorded an average annual inflation rate of 8.39%, compared with 93.4% in Zimbabwe. In 2024, inflation was 4.49% in Kenya and 18.2% in Zimbabwe.

Inflation
Kenya

Zimbabwe
Year Inflation
Kenya Zimbabwe
1997 11.4% -1%
1998 6.72% -28%
1999 5.74% -13.4%
2000 9.98% 4.5%
2001 5.74% -37.2%
2002 1.96% -34.4%
2003 9.82% -8.6%
2004 11.6% 113.6%
2005 10.3% -31.5%
2006 14.5% 33%
2007 9.76% -72.7%
2008 26.2% 157%
2009 9.23% 6.2%
2010 3.96% 3%
2011 14% 3.5%
2012 9.38% 3.7%
2013 5.72% 1.6%
2014 6.88% -0.2%
2015 6.58% -2.4%
2016 6.3% -1.6%
2017 8.01% 0.9%
2018 4.69% 10.6%
2019 5.24% 255.3%
2020 5.41% 557%
2021 6.11% 98.5%
2022 7.66% 193.4%
2023 7.67% 667%
2024 4.49% 736%
2025 - 89%
2026 - 18.2%

Top exports between countries

Kenya
Export category Export value
Chemicals & pharma $7.21M
Machinery & equipment $4.23M
Processed food, beverages & tobacco $3.07M
Metals $2.69M
Textiles & consumer goods $2.11M
Raw materials & minerals $1.28M
Animal & marine products $523K
Wood & paper products $303K
Raw agricultural goods $111K
Precious metals & jewellery $20K
Zimbabwe
Export category Export value
Processed food, beverages & tobacco $21M
Chemicals & pharma $171K
Precious metals & jewellery $71K
Machinery & equipment $55K
Raw agricultural goods $53K
Textiles & consumer goods $44K
Raw materials & minerals $10K
Wood & paper products $2K
Metals $1K

Balance of trade

Kenya Zimbabwe
Current account balance
-$1.55B
2024
$501M
2024
Current account balance ranking
134/190
2024
62/190
2024
Current account balance, % of GDP
-1.29%
2024
+1.21%
2024
Goods imports
$22.2B
2024
$9.06B
2024
Goods exports
$12.5B
2024
$7.79B
2024
Service imports
$5.64B
2024
$1.66B
2024
Service exports
$8.04B
2024
$457M
2024
Imports of goods and services, % of GDP
23.1%
2024
23.4%
2024
Exports of goods and services, % of GDP
17.1%
2024
18%
2024

Economic freedom indices

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

Kenya Zimbabwe
Economic freedom 54.8 35.1
Economic freedom ranking 132/197 191/197
Property rights 41.8 20.7
Government integrity 31.5 20.7
Judicial effectiveness 48 15.8
Tax burden 77 73.6
Government spending 83.7 87.6
Fiscal health 25.1 44.4
Business freedom 58.9 39.3
Labor freedom 57.3 33.2
Monetary freedom 72.6 0
Trade freedom 56.6 50.4
Investment freedom 55 25
Financial freedom 50 10

Economic freedom by year comparison

The Economic Freedom Index for Kenya is 54.8, ranking 132/197, compared to 35.1 for Zimbabwe, ranking 191/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Kenya
Zimbabwe
Year Economic freedom index
Kenya Zimbabwe
1995 54.5 48.5
1996 56.4 46.7
1997 60.1 48
1998 58.4 44.6
1999 58.2 47.2
2000 59.7 48.7
2001 57.6 38.8
2002 58.2 36.7
2003 58.6 36.7
2004 57.7 34.4
2005 57.9 35.2
2006 59.7 33.5
2007 59.6 32
2008 59.3 29.5
2009 58.7 22.7
2010 57.5 21.4
2011 57.4 22.1
2012 57.5 26.3
2013 55.9 28.6
2014 57.1 35.5
2015 55.6 37.6
2016 57.5 38.2
2017 53.5 44
2018 54.7 44
2019 55.1 40.4
2020 55.3 43.1
2021 54.9 39.5
2022 52.6 33.1
2023 52.5 39
2024 53.6 38.2
2025 54.8 35.1

More economic indicators

Kenya Zimbabwe
Services, % of GDP
55.3%
2024
50.6%
2024
Industry, % of GDP
16.5%
2024
35%
2024
Agriculture, forestry, and fishing, % of GDP
22.5%
2024
8.69%
2024
GNI, Atlas method
$118B
2024
$39.9B
2024
GNI per capita, PPP
$6,540
2024
$5,870
2024
Total reserves including gold
$10.1B
2024
$485M
2024
Total reserves ranking
75/177
2024
157/177
2024
Net foreign direct investment
-$45.8M
2024
-$465M
2024
Net inflows of foreign direct investment
$463M
2024
$465M
2024
Net outflows of foreign direct investment
$418M
2024
$131M
2024
Servicing debt to the IMF, % of GNI
4.79%
2024
3.44%
2024
Poverty at national poverty lines
39.8%
2022
38.3%
2019
Gross capital formation, % of GDP
16.8%
2024
8.85%
2024

GDP per capita map

GDP per capita

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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.