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Economy of Kiribati vs Senegal compared: GDP & Debt

Updated on by Georank team

Kiribati has a GDP of $308M compared to $32.3B for Senegal, ranking 192/197 and 110/197 by economy size, respectively.

Kiribati has $30.5M in government debt (8.77% of GDP), compared to $36.7B (111.4% of GDP) in Senegal.

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

Kiribati
GDP, current $

GDP, constant 2015 $
Senegal
GDP, current $

GDP, constant 2015 $
Year GDP
Kiribati Senegal
Current $ Constant $ Current $ Constant $
1960 - - $1,003,692,370 $3,845,391,102
1961 - - $1,058,975,257 $3,960,500,895
1962 - - $1,085,475,791 $3,955,105,292
1963 - - $1,122,139,862 $4,028,847,383
1964 - - $1,188,930,645 $4,185,324,878
1965 - - $1,210,058,228 $4,241,081,336
1966 - - $1,246,908,186 $4,363,087,109
1967 - - $1,246,480,766 $4,309,866,484
1968 - - $1,309,384,862 $4,580,990,424
1969 - - $1,245,234,931 $4,280,745,764
1970 $11,560,877 $84,746,575 $1,297,407,655 $4,647,265,165
1971 $12,356,134 $82,805,827 $1,339,549,033 $4,640,738,107
1972 $15,314,346 $92,808,131 $1,620,857,104 $4,936,966,115
1973 $25,645,040 $112,214,203 $1,863,398,590 $4,661,323,443
1974 $69,256,489 $163,050,326 $2,099,325,229 $4,857,135,178
1975 $44,547,454 $171,764,420 $2,830,388,405 $5,223,152,496
1976 $33,246,817 $125,786,121 $2,869,777,884 $5,689,084,008
1977 $31,335,459 $119,984,073 $2,938,046,463 $5,536,451,272
1978 $36,563,965 $121,255,417 $3,280,354,921 $5,317,543,794
1979 $34,466,197 $107,207,984 $4,084,877,823 $5,689,861,493
1980 $33,157,723 $106,050,818 $4,510,108,291 $5,916,759,626
1981 $35,267,489 $112,543,455 $4,095,892,781 $6,223,261,363
1982 $32,742,713 $111,316,560 $4,013,951,443 $6,721,768,519
1983 $31,000,546 $100,432,092 $3,569,356,125 $6,342,159,312
1984 $34,394,167 $114,410,720 $3,485,165,432 $6,591,776,710
1985 $26,126,615 $99,262,600 $3,818,944,918 $6,820,055,505
1986 $25,993,009 $96,815,059 $5,392,093,446 $7,033,317,655
1987 $29,554,413 $98,066,620 $6,487,353,103 $7,473,312,401
1988 $38,278,810 $119,685,813 $6,418,419,389 $7,412,287,163
1989 $37,645,319 $110,957,795 $6,366,039,373 $7,706,835,394
1990 $36,534,295 $103,872,769 $7,390,967,360 $7,649,320,651
1991 $41,247,792 $98,005,325 $7,255,210,470 $7,852,789,724
1992 $61,491,369 $121,486,649 $7,769,817,840 $7,956,464,848
1993 $58,953,596 $121,360,309 $7,367,986,241 $8,064,689,718
1994 $67,055,334 $123,842,439 $5,034,588,196 $8,060,857,301
1995 $68,596,395 $127,250,841 $6,326,342,633 $8,501,672,123
1996 $81,456,854 $127,184,611 $6,559,712,166 $8,673,403,962
1997 $80,205,807 $128,681,743 $6,041,478,726 $8,937,561,243
1998 $74,905,706 $134,398,139 $6,505,607,909 $9,464,741,444
1999 $77,323,978 $129,137,484 $6,592,834,933 $10,059,440,324
2000 $74,910,527 $137,844,792 $6,013,185,004 $10,450,471,991
2001 $64,935,850 $133,510,774 $6,507,824,829 $10,900,976,316
2002 $74,743,869 $135,442,881 $7,006,402,320 $10,908,464,913
2003 $96,105,619 $133,309,024 $8,768,721,563 $11,518,679,089
2004 $104,085,892 $132,497,215 $10,076,816,667 $12,053,525,217
2005 $113,895,437 $134,209,649 $11,009,033,438 $12,573,060,905
2006 $112,338,353 $141,962,853 $11,697,918,243 $12,866,110,160
2007 $138,054,946 $146,299,931 $13,994,218,413 $13,229,850,431
2008 $147,017,895 $141,933,271 $16,853,989,628 $13,719,774,159
2009 $140,177,384 $142,695,171 $16,145,867,495 $14,097,356,679
2010 $165,458,433 $144,444,545 $16,121,315,909 $14,575,382,432
2011 $195,970,140 $149,158,821 $17,814,283,639 $14,769,831,309
2012 $207,001,546 $157,815,491 $17,660,870,412 $15,361,066,999
2013 $201,730,861 $170,016,084 $18,918,667,725 $15,731,635,117
2014 $200,287,282 $172,164,514 $19,797,253,440 $16,710,783,797
2015 $191,559,399 $191,559,399 $17,774,766,696 $17,774,766,696
2016 $206,467,819 $205,137,195 $19,040,312,333 $18,904,543,056
2017 $222,875,736 $212,828,030 $20,996,562,944 $20,304,894,471
2018 $233,514,717 $220,233,253 $23,116,701,556 $21,565,674,311
2019 $216,985,388 $227,422,300 $23,403,995,992 $22,560,634,320
2020 $220,897,999 $224,083,588 $24,530,513,038 $22,863,414,676
2021 $285,259,894 $243,085,289 $27,520,784,130 $24,359,596,784
2022 $270,040,457 $254,185,355 $27,783,332,223 $25,297,546,479
2023 $288,610,732 $260,926,379 $30,696,331,296 $26,374,572,022
2024 $307,862,547 $274,669,108 $32,267,254,425 $28,192,309,478

Economic indicators

Kiribati Senegal
Gross domestic product
$308M
2024
$32.3B
2024
GDP rank
192/197
2024
110/197
2024
GDP growth
6.67%
2023-2024
5.12%
2023-2024
GDP per capita
$2,289
2024
$1,744
2024
GDP per capita rank
151/197
2024
160/197
2024
GDP per capita, PPP
$3,702
2024
$5,110
2024
Government debt
$30.5M
2024
$36.7B
2024
Debt-to-GDP ratio
8.77%
2025
111.4%
2025
Government debt per person
$226.9
2024
$1,982
2024
Government debt per person rank
181/185
2024
119/185
2024
Average annual personal income after taxes
$2,170
2025
$1,890
2025
Income share by richest 10%
22.8%
2019
28.8%
2021
Income share by poorest 10%
4%
2019
3%
2021
Government expenditure, % of GDP
126.6%
2025
29%
2025
Consumer prices inflation
7.8%
2024-2025
0.8%
2023-2024
Unemployment rate
2.79%
2023
5.78%
2024
Population
138067
19281054

GDP per capita in Kiribati vs Senegal

Kiribati's GDP per capita is $2,289, ranking 151/197, compared to $1,744 in Senegal, ranking 160/197. Adjusted for purchasing power (GDP per capita PPP), Kiribati ranks 169th at $3,702, while Senegal ranks 157th at $5,110.

Kiribati
GDP per capita

GDP per capita, PPP
Senegal
GDP per capita

GDP per capita, PPP
Year Current $
Kiribati Senegal
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 - - $300 -
1961 - - $308 -
1962 - - $307 -
1963 - - $309 -
1964 - - $318 -
1965 - - $314 -
1966 - - $315 -
1967 - - $305 -
1968 - - $311 -
1969 - - $287.3 -
1970 $201 - $290.5 -
1971 $210.7 - $291.1 -
1972 $256.2 - $342 -
1973 $422 - $381 -
1974 $1,131 - $417 -
1975 $730 - $547 -
1976 $548 - $541 -
1977 $520 - $540 -
1978 $611 - $589 -
1979 $573 - $716 -
1980 $542 - $772 -
1981 $568 - $683 -
1982 $519 - $652 -
1983 $483 - $564 -
1984 $527 - $536 -
1985 $393 - $571 -
1986 $382 - $784 -
1987 $424 - $916 -
1988 $536 - $880 -
1989 $515 - $849 -
1990 $488 $1,192 $957 $1,513
1991 $540 $1,139 $913 $1,561
1992 $792 $1,421 $951 $1,573
1993 $748 $1,431 $878 $1,588
1994 $838 $1,469 $584 $1,578
1995 $844 $1,518 $715 $1,656
1996 $986 $1,519 $723 $1,679
1997 $953 $1,535 $651 $1,719
1998 $874 $1,593 $685 $1,798
1999 $887 $1,526 $678 $1,893
2000 $845 $1,638 $603 $1,963
2001 $719 $1,591 $637 $2,044
2002 $810 $1,605 $669 $2,027
2003 $1,021 $1,578 $818 $2,131
2004 $1,083 $1,579 $918 $2,236
2005 $1,162 $1,617 $980 $2,350
2006 $1,123 $1,728 $1,017 $2,422
2007 $1,353 $1,792 $1,189 $2,499
2008 $1,411 $1,735 $1,399 $2,581
2009 $1,317 $1,718 $1,309 $2,606
2010 $1,522 $1,724 $1,276 $2,663
2011 $1,771 $1,786 $1,375 $2,685
2012 $1,844 $1,896 $1,327 $2,764
2013 $1,772 $2,049 $1,380 $2,769
2014 $1,737 $2,084 $1,399 $2,854
2015 $1,640 $2,311 $1,218 $2,994
2016 $1,743 $2,463 $1,266 $3,101
2017 $1,853 $2,562 $1,357 $3,234
2018 $1,913 $2,672 $1,453 $3,380
2019 $1,751 $2,763 $1,431 $3,648
2020 $1,752 $2,711 $1,461 $3,753
2021 $2,222 $3,020 $1,598 $4,174
2022 $2,070 $3,329 $1,574 $4,530
2023 $2,178 $3,486 $1,698 $4,778
2024 $2,289 $3,702 $1,744 $5,110

Spending and national debt comparison

In 2024, Kiribati's government spending was $302M, accounting for 126.6% of its GDP, while Senegal's spent $10B, or 29% of GDP.

Debt-to-GDP ratio is 8.77% in Kiribati and 111.4% in Senegal, ranking 180/185 and 14/185, respectively.

Kiribati
Government spending

Government debt
Senegal
Government spending

Government debt
Year % of GDP
Kiribati Senegal
Government spending Government debt Government spending Government debt
1990 105.5% 7.72% - -
1991 82.1% 8.43% - -
1992 65.9% 7.31% - -
1993 55.3% 10.9% - -
1994 54.6% 12.3% 15.9% 77.3%
1995 69.6% 12.3% 14.4% 65.3%
1996 68.4% 11% 15.4% 0.07%
1997 70.9% 10.7% 14.1% 67.8%
1998 74.7% 9.81% 13.5% 18.8%
1999 77.6% 11.8% 14.6% 15%
2000 66% 12.7% 14% 57.5%
2001 101.3% 17% 15.7% 53.2%
2002 96.9% 13.3% 15.5% 52%
2003 84.4% 12.3% 17.1% 42.9%
2004 103.8% 13.6% 18.1% 38%
2005 95.6% 12.1% 18.7% 36.1%
2006 82.1% 12.9% 21.3% 17.5%
2007 77.3% 11.1% 22.2% 19%
2008 79.4% 13.9% 20.9% 19.1%
2009 74.7% 10.3% 21.1% 29.9%
2010 75.7% 9.43% 21.7% 34.6%
2011 80.9% 8.8% 23.3% 32.9%
2012 83.9% 8.13% 23% 34.5%
2013 78% 8.86% 22.1% 36.9%
2014 101.2% 8.97% 23.1% 42.4%
2015 90.9% 18.8% 22.9% 44.5%
2016 99% 21.2% 24% 47.5%
2017 92.1% 20.2% 22.5% 61.1%
2018 108.8% 19% 22.6% 61.5%
2019 108.3% 19% 30.2% 72.1%
2020 102.2% 21% 29.4% 81.6%
2021 84% 17.3% 31% 89.4%
2022 87.5% 16.3% 32.5% 94.6%
2023 95.3% 11.4% 33.3% 107.4%
2024 98.1% 9.92% 31.1% 113.7%
2025 126.6% 8.77% 29% 111.4%

Government deficit by year

In 2024, Kiribati's government deficit, the difference between spending and revenue, was -$67.7M, equivalent to -22% of GDP. This compares to Senegal's deficit of -$3.79B, or -11.7% of GDP.

Over the past 31 years, Kiribati recorded a fiscal deficit in 18 of those years, while Senegal ran a deficit in 23 years. On average, Kiribati posted an annual deficit equal to -0.63% of GDP, compared to deficit of -3.43% of GDP for Senegal.

Deficit/surplus
Kiribati

Senegal
Year Deficit/surplus, % of GDP
Kiribati Senegal
1990 -4.62% -
1991 3.87% -
1992 0.79% -
1993 6.27% -
1994 0.74% 5.9%
1995 -5.14% 2.41%
1996 -20.2% 0.92%
1997 5.92% 0.98%
1998 14.6% 0.93%
1999 -1.81% -0.62%
2000 -0.03% 0.78%
2001 -10.9% -1.44%
2002 3.13% 0.19%
2003 -8.93% -0.52%
2004 -19.2% 0.18%
2005 -9.96% -0.26%
2006 -12.3% -3.67%
2007 -12.5% -2.8%
2008 -15.8% -3.53%
2009 -8.56% -3.66%
2010 -7.8% -3.94%
2011 -17.6% -4.92%
2012 -5.43% -4.18%
2013 11.8% -4.34%
2014 35% -3.9%
2015 42.5% -3.66%
2016 20.1% -3.27%
2017 34.1% -2.97%
2018 5.18% -3.66%
2019 10.8% -9.88%
2020 3.57% -9.28%
2021 -10.8% -11.5%
2022 -18.3% -12.6%
2023 0.13% -12.3%
2024 -22% -11.7%
2025 -15.1% -7.25%

Inflation comparison by year

Over the past 29 years, Kiribati has recorded an average annual inflation rate of 2.11%, compared with 2.04% in Senegal. In 2024, inflation was 7.8% in Kiribati and 0.8% in Senegal.

Inflation
Kiribati

Senegal
Year Inflation
Kiribati Senegal Kiribati Senegal
1996 -1.7% 2.75%
1997 2.6% 1.75%
1998 3.7% 1.16%
1999 1.8% 0.83%
2000 0.4% 0.73%
2001 6% 2.97%
2002 3.2% 2.34%
2003 1.6% -0.05%
2004 -0.7% 0.51%
2005 -0.4% 1.71%
2006 -1% 2.11%
2007 3.6% 5.85%
2008 13.7% 7.35%
2009 9.8% -2.25%
2010 -3.9% 1.23%
2011 1.5% 3.4%
2012 -3% 1.42%
2013 -1.5% 0.71%
2014 2.1% -1.09%
2015 0.6% 0.14%
2016 1.9% 0.84%
2017 0.4% 1.32%
2018 0.6% 0.46%
2019 -1.8% 1.76%
2020 2.6% 2.54%
2021 2.1% 2.18%
2022 5.3% 9.7%
2023 9.3% 5.94%
2024 2.5% 0.8%
2025 7.8% -

Balance of trade

Kiribati Senegal
Current account balance
-$59.5M
2024
-$6.07B
2023
Current account balance ranking
81/189
2024
172/189
2023
Current account balance, % of GDP
-19.3%
2024
-19.8%
2023
Goods imports
$227M
2024
$10.8B
2023
Goods exports
$8.49M
2024
$5.52B
2023
Service imports
$108M
2024
$4.08B
2023
Service exports
$7M
2024
$1.48B
2023
Imports of goods and services, % of GDP
94.9%
2024
43.1%
2024
Exports of goods and services, % of GDP
6.27%
2024
28.1%
2024

Economic freedom indices

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

Kiribati Senegal
Economic freedom 50.9 56.4
Economic freedom ranking 159/197 119/197
Property rights 68.5 57.2
Government integrity 48.9 45.2
Judicial effectiveness 59.9 50.3
Tax burden 72.9 69.4
Government spending 0 79.7
Fiscal health 19.7 30.5
Business freedom 62.8 54.3
Labor freedom 65.3 54.3
Monetary freedom 72.5 68.8
Trade freedom 80 67.2
Investment freedom 30 60
Financial freedom 30 40

Economic freedom by year comparison

The Economic Freedom Index for Kiribati is 50.9, ranking 159/197, compared to 56.4 for Senegal, ranking 119/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Kiribati
Senegal
Year Economic freedom index
Kiribati Senegal
1996 - 58.2
1997 - 58.1
1998 - 59.7
1999 - 60.6
2000 - 58.9
2001 - 58.7
2002 - 58.6
2003 - 58.1
2004 - 58.9
2005 - 57.9
2006 - 56.2
2007 - 58.1
2008 - 58.3
2009 45.7 56.3
2010 43.7 54.6
2011 44.8 55.7
2012 46.9 55.4
2013 45.9 55.5
2014 46.3 55.4
2015 46.4 57.8
2016 46.2 58.1
2017 50.9 55.9
2018 50.8 55.7
2019 47.3 56.3
2020 45.2 58
2021 44.4 58
2022 59.2 60
2023 58.8 57.7
2024 51.3 55.4
2025 50.9 56.4

More economic indicators

Kiribati Senegal
Services, % of GDP
65.7%
2022
49.1%
2024
Industry, % of GDP
9.86%
2022
25.4%
2024
Agriculture, forestry, and fishing, % of GDP
27.8%
2022
15.5%
2024
GNI, Atlas method
$487M
2024
$31B
2024
GNI per capita, PPP
$5,990
2024
$4,960
2024
Net foreign direct investment
-$8.06M
2024
-$4.72B
2023
Net inflows of foreign direct investment
$8.07M
2024
$2.02B
2024
Net outflows of foreign direct investment
$16.4K
2024
$48.1M
2024
Servicing debt to the IMF, % of GNI
n/a
9.05%
2023
Poverty at national poverty lines
5.5%
2023
37.5%
2021
Gross capital formation, % of GDP
20.4%
2022
32.9%
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.