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Economy of Kiribati vs Malaysia compared: GDP & Debt

Updated on by Georank

Kiribati has a GDP of $349M compared to $472B for Malaysia, ranking 192/197 and 35/197 by economy size, respectively.

Kiribati has $27.8M in government debt (7.95% of GDP), compared to $334B (70.7% of GDP) in Malaysia.

Kiribati vs Malaysia GDP by year

Kiribati
Malaysia
1x
Year GDP, current $
Kiribati Malaysia
2025 $349,227,254 $472,193,128,645
2024 $343,153,235 $422,227,005,429
2023 $291,657,338 $399,949,418,753
2022 $271,214,375 $407,830,525,990
2021 $285,451,584 $373,784,553,030
2020 $220,909,307 $337,456,163,961
2019 $216,891,541 $365,177,721,022
2018 $233,859,230 $358,788,845,713
2017 $223,029,865 $319,109,094,160
2016 $206,467,819 $301,256,033,870
2015 $191,559,399 $301,355,266,965
2014 $200,287,282 $338,066,095,097
2013 $201,730,861 $323,276,235,524
2012 $207,001,546 $314,443,047,642
2011 $195,970,140 $297,951,668,675
2010 $165,458,433 $255,017,638,456
2009 $140,177,384 $202,257,453,037
2008 $147,017,895 $230,811,614,370
2007 $138,054,946 $193,549,569,478
2006 $112,338,353 $162,692,258,307
2005 $113,895,437 $143,534,405,819
2004 $104,085,892 $124,749,473,684
2003 $96,105,619 $110,202,368,421
2002 $74,743,869 $100,845,526,316
2001 $64,935,850 $92,783,947,368
2000 $74,910,527 $93,789,736,842
1999 $77,323,978 $79,148,421,053
1998 $74,905,706 $72,167,498,981
1997 $80,205,807 $100,005,323,302
1996 $81,456,854 $100,855,393,910
1995 $68,596,395 $88,705,342,903
1994 $67,055,334 $74,478,356,958
1993 $58,953,596 $66,894,966,969
1992 $61,491,369 $59,167,550,163
1991 $41,247,792 $49,143,148,094
1990 $36,534,295 $44,024,585,240
1989 $37,645,319 $38,847,965,293
1988 $38,278,810 $35,272,109,220
1987 $29,554,413 $32,181,210,158
1986 $25,993,009 $27,734,111,400
1985 $26,126,615 $31,199,633,353
1984 $34,394,167 $33,942,897,422
1983 $31,000,546 $30,347,442,111
1982 $32,742,713 $26,804,493,635
1981 $35,267,489 $25,004,285,792
1980 $33,157,723 $24,488,224,677
1979 $34,466,197 $21,213,264,962
1978 $36,563,965 $16,358,079,862
1977 $31,335,459 $13,139,488,633
1976 $33,246,817 $11,050,234,599
1975 $44,547,454 $9,298,800,799
1974 $69,256,489 $9,496,204,302
1973 $25,645,040 $7,662,902,678
1972 $15,314,346 $5,043,347,250
1971 $12,356,134 $4,244,395,956
1970 $11,560,877 $3,864,145,667
1969 - $3,664,552,041
1968 - $3,330,371,551
1967 - $3,188,924,677
1966 - $3,143,517,944
1965 - $2,956,337,669
1964 - $2,674,423,922
1963 - $2,510,110,348
1962 - $2,001,489,602
1961 - $1,901,856,123
1960 - $1,916,229,477

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/kiribati/malaysia | CC BY

GDP per capita in Kiribati vs Malaysia by year

Kiribati
GDP per capita

GDP per capita, PPP
Malaysia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kiribati Malaysia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $2,559 - $13,125 -
2024 $2,551 $3,702 $11,874 $38,779
2023 $2,201 $3,486 $11,386 $36,467
2022 $2,079 $3,329 $11,755 $34,420
2021 $2,224 $3,020 $10,903 $29,823
2020 $1,752 $2,711 $9,958 $27,475
2019 $1,750 $2,763 $10,920 $28,934
2018 $1,916 $2,672 $10,902 $27,794
2017 $1,854 $2,562 $9,863 $26,416
2016 $1,743 $2,463 $9,477 $25,286
2015 $1,640 $2,311 $9,649 $24,526
2014 $1,737 $2,084 $11,013 $24,307
2013 $1,772 $2,049 $10,714 $23,161
2012 $1,844 $1,896 $10,601 $22,639
2011 $1,771 $1,786 $10,217 $21,324
2010 $1,522 $1,724 $8,899 $20,193
2009 $1,317 $1,718 $7,191 $18,923
2008 $1,411 $1,735 $8,372 $19,480
2007 $1,353 $1,792 $7,169 $18,617
2006 $1,123 $1,728 $6,158 $17,426
2005 $1,162 $1,617 $5,556 $16,371
2004 $1,083 $1,579 $4,939 $15,416
2003 $1,021 $1,578 $4,465 $14,387
2002 $810 $1,605 $4,184 $13,656
2001 $719 $1,591 $3,944 $13,072
2000 $845 $1,638 $4,084 $13,027
1999 $887 $1,526 $3,528 $11,980
1998 $874 $1,593 $3,294 $11,398
1997 $953 $1,535 $4,679 $12,469
1996 $986 $1,519 $4,837 $11,709
1995 $844 $1,518 $4,363 $10,720
1994 $838 $1,469 $3,758 $9,806
1993 $748 $1,431 $3,462 $9,018
1992 $792 $1,421 $3,141 $8,224
1991 $540 $1,139 $2,679 $7,583
1990 $488 $1,192 $2,469 $6,887
1989 $515 - $2,244 -
1988 $536 - $2,100 -
1987 $424 - $1,977 -
1986 $382 - $1,760 -
1985 $393 - $2,046 -
1984 $527 - $2,300 -
1983 $483 - $2,124 -
1982 $519 - $1,938 -
1981 $568 - $1,866 -
1980 $542 - $1,886 -
1979 $573 - $1,680 -
1978 $611 - $1,327 -
1977 $520 - $1,092 -
1976 $548 - $940 -
1975 $730 - $811 -
1974 $1,131 - $848 -
1973 $422 - $701 -
1972 $256.2 - $472 -
1971 $210.7 - $407 -
1970 $201 - $380 -
1969 - - $368 -
1968 - - $342 -
1967 - - $335 -
1966 - - $339 -
1965 - - $326 -
1964 - - $303 -
1963 - - $291.8 -
1962 - - $238.8 -
1961 - - $232.9 -
1960 - - $240.8 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/kiribati/malaysia | CC BY

Kiribati's GDP per capita is $2,559, ranking 152/197, compared to $13,125 in Malaysia, ranking 78/197. Adjusted for purchasing power (GDP per capita PPP), Kiribati ranks 169th at $3,702, while Malaysia ranks 60th at $38,779.

Economic indicators

Kiribati Malaysia
Gross domestic product
$349M
2025
$472B
2025
GDP rank
192/197
2025
35/197
2025
GDP growth
4.22%
2024-2025
5.17%
2024-2025
GDP per capita
$2,559
2025
$13,125
2025
GDP per capita rank
152/197
2025
78/197
2025
GDP per capita, PPP
$3,702
2024
$38,779
2024
GDP per capita PPP rank
169/197
2024
60/197
2024
Government debt
$27.8M
2025
$334B
2025
Debt-to-GDP ratio
7.95%
2025
70.7%
2025
Government debt per person
$203.4
2025
$9,273
2025
Government debt per person rank
181/185
2025
62/185
2025
Average annual personal income after taxes
$2,170
2026
$11,034
2026
Market capitalization of domestic companies n/a
$487B
2025
Number of billionaires n/a
19
2026
Income share by richest 10%
20.9%
2023
30.9%
2021
Income share by poorest 10%
4.4%
2023
2.3%
2021
Government expenditure, % of GDP
88.2%
2025
23.4%
2025
Consumer prices inflation
6.5%
2024-2025
1.38%
2024-2025
Central bank interest rate n/a
2.75%
2025
Unemployment rate
2.79%
2023
3.9%
2022
Population
139471
36600906

Spending and national debt comparison by year

Kiribati
Spending

Debt
Malaysia
Spending

Debt
1x
Year % of GDP
Kiribati Malaysia
Government spending Government debt Government spending Government debt
2025 88.2% 7.95% 23.4% 70.7%
2024 86.1% 8.9% 24% 69.8%
2023 94.4% 11.3% 25% 69.7%
2022 87.2% 16.2% 24.6% 65.5%
2021 84% 17.3% 24.5% 69.2%
2020 102.2% 21% 25% 67.7%
2019 108.3% 18.5% 23.6% 57.1%
2018 108.8% 19% 22.8% 55.6%
2017 92.1% 20.2% 22% 54.4%
2016 99% 21.2% 22.9% 55.8%
2015 90.9% 18.8% 24.7% 57%
2014 101.2% 8.97% 26% 55.4%
2013 78% 8.86% 27.8% 55.7%
2012 83.9% 8.13% 28.5% 53.8%
2011 80.9% 8.8% 27.1% 51.9%
2010 75.7% 9.43% 26.6% 51.2%
2009 74.7% 10.3% 30.9% 50.4%
2008 79.4% 13.9% 26.9% 39.4%
2007 77.3% 11.1% 25.9% 39.3%
2006 82.1% 12.9% 25.6% 39.7%
2005 95.6% 12.1% 24.5% 40.8%
2004 103.8% 13.6% 25.9% 42%
2003 84.4% 12.3% 28.1% 41.4%
2002 96.9% 13.3% 27.1% 39.5%
2001 101.3% 17% 28.2% 38.1%
2000 66% 12.7% 25.6% 32.5%
1999 77.6% 11.8% 24.6% 34.4%
1998 74.7% 9.81% 23.1% 33.6%
1997 70.9% 10.7% 21.2% 29.6%
1996 68.4% 11% 22.4% 32.8%
1995 69.6% 12.3% 22.6% 38.2%
1994 54.6% 12.3% 23.3% 43.7%
1993 55.3% 10.9% 24.6% 51.1%
1992 65.9% 7.31% 28.2% 59.1%
1991 82.1% 8.43% 27.4% 67.3%
1990 105.5% 7.72% 30.5% 74.1%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/kiribati/malaysia | CC BY

In 2025, Kiribati's government spending was $308M, accounting for 88.2% of its GDP, while Malaysia spent $111B, or 23.4% of GDP.

Debt-to-GDP ratio is 7.95% in Kiribati and 70.7% in Malaysia, ranking 182/185 and 56/185, respectively.

Government deficit by year

Deficit/surplus
Kiribati

Malaysia
1x
Year Deficit/surplus, % of GDP
Kiribati Malaysia
2025 -14.5% -3.54%
2024 -14.1% -3.45%
2023 1.81% -4.11%
2022 -18.2% -4.56%
2021 -10.8% -6.03%
2020 3.57% -4.9%
2019 10.8% -2.01%
2018 5.18% -2.64%
2017 34.1% -2.41%
2016 20.1% -2.6%
2015 42.5% -2.55%
2014 35% -2.63%
2013 11.8% -3.48%
2012 -5.43% -3.1%
2011 -17.6% -3.57%
2010 -7.8% -4.32%
2009 -8.56% -5.88%
2008 -15.8% -3.4%
2007 -12.5% -2.57%
2006 -12.3% -2.6%
2005 -9.96% -2.83%
2004 -19.2% -3.35%
2003 -8.93% -4.6%
2002 3.13% -3.96%
2001 -10.9% -4.36%
2000 -0.03% -6.05%
1999 -1.81% -3%
1998 14.6% -0.63%
1997 5.92% 4.84%
1996 -20.2% 3.27%
1995 -5.14% 3.1%
1994 0.74% 5.45%
1993 6.27% 3.44%
1992 0.79% 1.81%
1991 3.87% 1.6%
1990 -4.62% 0.15%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/kiribati/malaysia | CC BY

In 2025, Kiribati's government deficit, the difference between spending and revenue, was $50.6M, equivalent to 14.5% of GDP. This compares to Malaysia's deficit of $16.7B, or 3.54% of GDP.

Over the past 36 years, Kiribati recorded a fiscal deficit in 20 of those years, while Malaysia ran a deficit in 28 years. On average, Kiribati posted an annual deficit equal to 0.51% of GDP, compared to deficit of 2.1% of GDP for Malaysia.

Inflation comparison by year

Inflation
Kiribati

Malaysia
1x
Year Consumer prices inflation
Kiribati Malaysia
2025 6.5% 1.38%
2024 2.5% 1.83%
2023 9.3% 2.49%
2022 5.3% 3.38%
2021 2.1% 2.48%
2020 2.6% -1.14%
2019 -1.8% 0.66%
2018 0.6% 0.88%
2017 0.4% 3.87%
2016 1.9% 2.09%
2015 0.6% 2.1%
2014 2.1% 3.14%
2013 -1.5% 2.11%
2012 -3% 1.66%
2011 1.5% 3.17%
2010 -3.9% 1.62%
2009 9.8% 0.58%
2008 13.7% 5.44%
2007 3.6% 2.03%
2006 -1% 3.61%
2005 -0.4% 2.98%
2004 -0.7% 1.42%
2003 1.6% 1.09%
2002 3.2% 1.81%
2001 6% 1.42%
2000 0.4% 1.53%
1999 1.8% 2.74%
1998 3.7% 5.27%
1997 2.6% 2.66%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/kiribati/malaysia | CC BY

Over the past 29 years, Kiribati has recorded an average annual inflation rate of 2.4%, compared with 2.22% in Malaysia. In 2025, inflation was 6.5% in Kiribati and 1.38% in Malaysia.

Top exports between countries

Kiribati
Export category Export value
Processed food, beverages & tobacco $1.33M
Raw agricultural goods $367K
Malaysia
Export category Export value
Processed food, beverages & tobacco $1.13M
Animal & marine products $591K
Machinery & equipment $266K
Chemicals & pharma $264K
Metals $210K
Miscellaneous $144K
Textiles & consumer goods $113K
Wood & paper products $22K
Raw materials & minerals $19K
Raw agricultural goods $13K

Balance of trade

Kiribati Malaysia
Current account balance
-$61.3M
2025
$7.15B
2024
Current account balance ranking
77/190
2025
29/190
2024
Current account balance, % of GDP
-17.6%
2025
+1.69%
2024
Goods imports
$270M
2025
$223B
2024
Goods exports
$17.3M
2025
$248B
2024
Service imports
$110M
2025
$56.4B
2024
Service exports
$8.63M
2025
$53.4B
2024
Imports of goods and services, % of GDP
97.6%
2024
65.4%
2025
Exports of goods and services, % of GDP
4.52%
2024
71%
2025

Economic freedom indices

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

Kiribati Malaysia
Economic freedom 50.8 68
Economic freedom ranking 158/197 51/197
Property rights 69.6 62.7
Government integrity 50.5 52.9
Judicial effectiveness 54.6 63.4
Tax burden 72.6 83.5
Government spending 0 82
Fiscal health 19.8 62.5
Business freedom 60.2 79.6
Labor freedom 65.3 55.4
Monetary freedom 76.7 80.8
Trade freedom 80 83
Investment freedom 30 60
Financial freedom 30 50

Economic freedom comparison by year

Kiribati
Malaysia
1x
Year Economic freedom index
Kiribati Malaysia
2026 50.8 68
2025 50.9 67.1
2024 51.3 65.7
2023 58.8 67.3
2022 59.2 68.1
2021 44.4 74.4
2020 45.2 74.7
2019 47.3 74
2018 50.8 74.5
2017 50.9 73.8
2016 46.2 71.5
2015 46.4 70.8
2014 46.3 69.6
2013 45.9 66.1
2012 46.9 66.4
2011 44.8 66.3
2010 43.7 64.8
2009 45.7 64.6
2008 - 63.9
2007 - 63.8
2006 - 61.6
2005 - 61.9
2004 - 59.9
2003 - 61.1
2002 - 60.1
2001 - 60.2
2000 - 66
1999 - 68.9
1998 - 68.2
1997 - 66.8
1996 - 69.9
1995 - 71.9

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/kiribati/malaysia | CC BY

The Economic Freedom Index for Kiribati is 50.8, ranking 158/197, compared to 68 for Malaysia, ranking 51/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Kiribati Malaysia
Services, % of GDP
70.3%
2024
54.8%
2025
Industry, % of GDP
11.8%
2024
35.7%
2025
Agriculture, forestry, and fishing, % of GDP
23.2%
2024
8.22%
2025
GNI, Atlas method
$537M
2025
$445B
2025
GNI per capita, PPP
$6,080
2025
$40,070
2025
Total reserves including gold n/a
$126B
2025
Total reserves ranking n/a
25/177
2025
Net foreign direct investment
-$4.14M
2025
-$2.55B
2024
Net inflows of foreign direct investment
$8.07M
2024
$15.6B
2024
Net outflows of foreign direct investment
$16.4K
2024
$13B
2024
Poverty at national poverty lines
5.5%
2023
5.1%
2023
Gross capital formation, % of GDP
29.9%
2024
20.5%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/kiribati/malaysia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2021–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

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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.

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.