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Economy of Kiribati vs Sri Lanka compared: GDP & Debt

Updated on by Georank team

Kiribati has a GDP of $308M compared to $99B for Sri Lanka, ranking 192/197 and 72/197 by economy size, respectively.

Kiribati has $30.5M in government debt (9.92% of GDP), compared to $99.8B (100.8% of GDP) in Sri Lanka.

Kiribati vs Sri Lanka GDP by year

Kiribati
Sri Lanka
1x
Year GDP, current $
Kiribati Sri Lanka
2024 $307,862,564 $98,963,185,510
2023 $288,610,748 $83,716,142,582
2022 $270,040,453 $74,143,020,263
2021 $285,259,881 $88,556,698,938
2020 $220,898,020 $84,335,574,582
2019 $216,985,388 $88,998,706,297
2018 $233,514,717 $94,450,015,983
2017 $222,875,736 $94,369,350,286
2016 $206,467,819 $88,000,211,172
2015 $191,559,399 $85,090,301,052
2014 $200,287,282 $82,531,125,191
2013 $201,730,861 $76,976,203,829
2012 $207,001,546 $70,447,217,164
2011 $195,970,140 $67,753,285,897
2010 $165,458,433 $58,636,049,434
2009 $140,177,384 $42,066,224,093
2008 $147,017,895 $40,713,826,215
2007 $138,054,946 $32,350,238,760
2006 $112,338,353 $28,267,410,543
2005 $113,895,437 $24,405,791,045
2004 $104,085,892 $20,662,525,941
2003 $96,105,619 $18,881,765,437
2002 $74,743,869 $16,536,535,647
2001 $64,935,850 $15,749,753,805
2000 $74,910,527 $16,595,882,819
1999 $77,323,978 $15,711,933,513
1998 $74,905,706 $15,760,736,956
1997 $80,205,807 $15,091,913,884
1996 $81,456,854 $13,897,738,375
1995 $68,596,395 $13,029,697,561
1994 $67,055,334 $11,717,604,209
1993 $58,953,596 $10,338,679,636
1992 $61,491,369 $9,703,011,636
1991 $41,247,792 $9,000,362,582
1990 $36,534,295 $8,032,551,173
1989 $37,645,319 $6,987,267,684
1988 $38,278,810 $6,978,371,581
1987 $29,554,413 $6,682,167,120
1986 $25,993,009 $6,405,210,564
1985 $26,126,615 $5,978,460,972
1984 $34,394,167 $6,043,474,843
1983 $31,000,546 $5,167,913,302
1982 $32,742,713 $4,768,765,017
1981 $35,267,489 $4,415,844,156
1980 $33,157,723 $4,024,621,900
1979 $34,466,197 $3,364,611,432
1978 $36,563,965 $2,733,183,857
1977 $31,335,459 $4,104,509,583
1976 $33,246,817 $3,591,319,857
1975 $44,547,454 $3,791,298,146
1974 $69,256,489 $3,574,586,466
1973 $25,645,040 $2,875,625,000
1972 $15,314,346 $2,553,936,348
1971 $12,356,134 $2,369,308,600
1970 $11,560,877 $2,296,470,588
1969 - $1,965,546,218
1968 - $1,801,344,538
1967 - $1,859,465,021
1966 - $1,751,470,588
1965 - $1,698,319,328
1964 - $1,309,747,899
1963 - $1,240,672,269
1962 - $1,434,156,379
1961 - $1,444,327,731
1960 - $1,409,873,950

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

GeoRank.org/economy/kiribati/sri-lanka | CC BY

GDP per capita in Kiribati vs Sri Lanka by year

Kiribati
GDP per capita

GDP per capita, PPP
Sri Lanka
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kiribati Sri Lanka
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,289 $3,702 $4,516 $15,633
2023 $2,178 $3,486 $3,799 $14,456
2022 $2,070 $3,329 $3,343 $14,194
2021 $2,222 $3,020 $3,997 $14,316
2020 $1,752 $2,711 $3,848 $12,941
2019 $1,751 $2,763 $4,082 $14,113
2018 $1,913 $2,672 $4,359 $14,178
2017 $1,853 $2,562 $4,399 $13,610
2016 $1,743 $2,463 $4,149 $13,079
2015 $1,640 $2,311 $4,058 $12,227
2014 $1,737 $2,084 $3,972 $11,721
2013 $1,772 $2,049 $3,739 $11,253
2012 $1,844 $1,896 $3,328 $10,249
2011 $1,771 $1,786 $3,225 $9,076
2010 $1,522 $1,724 $2,808 $8,234
2009 $1,317 $1,718 $2,027 $7,576
2008 $1,411 $1,735 $1,974 $7,317
2007 $1,353 $1,792 $1,579 $6,820
2006 $1,123 $1,728 $1,389 $6,261
2005 $1,162 $1,617 $1,207 $5,679
2004 $1,083 $1,579 $1,029 $5,216
2003 $1,021 $1,578 $946 $4,850
2002 $810 $1,605 $835 $4,522
2001 $719 $1,591 $804 $4,328
2000 $845 $1,638 $860 $4,368
1999 $887 $1,526 $829 $4,103
1998 $874 $1,593 $848 $3,952
1997 $953 $1,535 $827 $3,804
1996 $986 $1,519 $776 $3,582
1995 $844 $1,518 $742 $3,454
1994 $838 $1,469 $678 $3,260
1993 $748 $1,431 $607 $3,067
1992 $792 $1,421 $580 $2,851
1991 $540 $1,139 $546 $2,713
1990 $488 $1,192 $491 $2,527
1989 $515 - $430 -
1988 $536 - $434 -
1987 $424 - $420 -
1986 $382 - $407 -
1985 $393 - $385 -
1984 $527 - $391 -
1983 $483 - $336 -
1982 $519 - $312 -
1981 $568 - $292.5 -
1980 $542 - $271.1 -
1979 $573 - $230.8 -
1978 $611 - $191 -
1977 $520 - $292.1 -
1976 $548 - $260.3 -
1975 $730 - $279.8 -
1974 $1,131 - $268.7 -
1973 $422 - $220.2 -
1972 $256.2 - $199.4 -
1971 $210.7 - $188.8 -
1970 $201 - $186.9 -
1969 - - $163.6 -
1968 - - $153.5 -
1967 - - $162.3 -
1966 - - $156.6 -
1965 - - $155.6 -
1964 - - $122.9 -
1963 - - $119.4 -
1962 - - $141.4 -
1961 - - $145.9 -
1960 - - $145.9 -

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

GeoRank.org/economy/kiribati/sri-lanka | CC BY

Kiribati's GDP per capita is $2,289, ranking 152/197, compared to $4,516 in Sri Lanka, ranking 124/197. Adjusted for purchasing power (GDP per capita PPP), Kiribati ranks 169th at $3,702, while Sri Lanka ranks 111th at $15,633.

Economic indicators

Kiribati Sri Lanka
Gross domestic product
$308M
2024
$99B
2024
GDP rank
192/197
2024
72/197
2024
GDP growth
5.27%
2023-2024
5.01%
2023-2024
GDP per capita
$2,289
2024
$4,516
2024
GDP per capita rank
152/197
2024
124/197
2024
GDP per capita, PPP
$3,702
2024
$15,633
2024
GDP per capita PPP rank
169/197
2024
111/197
2024
Government debt
$30.5M
2024
$99.8B
2024
Debt-to-GDP ratio
9.92%
2024
100.8%
2024
Government debt per person
$226.9
2024
$4,554
2024
Government debt per person rank
181/185
2024
85/185
2024
Average annual personal income after taxes
$1,967
2026
$2,874
2026
Market capitalization of domestic companies n/a
$19.5B
2024
Income share by richest 10%
22.8%
2019
30.8%
2019
Income share by poorest 10%
4%
2019
3.1%
2019
Government expenditure, % of GDP
98.1%
2024
19.3%
2024
Consumer prices inflation
2.5%
2023-2024
-0.43%
2023-2024
Central bank interest rate n/a
7.75%
2025
Unemployment rate
2.79%
2023
4.67%
2023
Population
139020
22185425

Spending and national debt comparison by year

Kiribati
Spending

Debt
Sri Lanka
Spending

Debt
1x
Year % of GDP
Kiribati Sri Lanka
Government spending Government debt Government spending Government debt
2024 98.1% 9.92% 19.3% 100.8%
2023 95.3% 11.4% 19.5% 110.4%
2022 87.5% 16.3% 18.6% 115.9%
2021 84% 17.3% 20% 102.7%
2020 102.2% 21% 22.1% 96.9%
2019 108.3% 19% 19.5% 82.6%
2018 108.8% 19% 17.5% 83.6%
2017 92.1% 20.2% 17.9% 72.3%
2016 99% 21.2% 18.2% 75%
2015 90.9% 18.8% 19.3% 76.3%
2014 101.2% 8.97% 17.2% 69.6%
2013 78% 8.86% 16.6% 69.5%
2012 83.9% 8.13% 17.3% 67.5%
2011 80.9% 8.8% 19.1% 69.4%
2010 75.7% 9.43% 19.3% 68.7%
2009 74.7% 10.3% 21% 72.8%
2008 79.4% 13.9% 19.1% 68.8%
2007 77.3% 11.1% 19.9% 71.8%
2006 82.1% 12.9% 20.5% 74.3%
2005 95.6% 12.1% 20.1% 76.6%
2004 103.8% 13.6% 19.3% 86.5%
2003 84.4% 12.3% 19.3% 86.5%
2002 96.9% 13.3% 20.8% 96.3%
2001 101.3% 17% 22.4% 84.4%
2000 66% 12.7% 21.7% 79.2%
1999 77.6% 11.8% 20.5% 77.7%
1998 74.7% 9.81% 21.4% 74.2%
1997 70.9% 10.7% 21.4% 70.1%
1996 68.4% 11% 23.1% 76.2%
1995 69.6% 12.3% 24.8% 77.8%
1994 54.6% 12.3% 24.1% 77.9%
1993 55.3% 10.9% 23.2% 79.2%
1992 65.9% 7.31% 23% 77.9%
1991 82.1% 8.43% 26.4% 80.5%
1990 105.5% 7.72% 25.4% 78.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/kiribati/sri-lanka | CC BY

In 2024, Kiribati's government spending was $302M, accounting for 98.1% of its GDP, while Sri Lanka spent $19.1B, or 19.3% of GDP.

Debt-to-GDP ratio is 9.92% in Kiribati and 100.8% in Sri Lanka, ranking 180/185 and 23/185, respectively.

Government deficit by year

Deficit/surplus
Kiribati

Sri Lanka
1x
Year Deficit/surplus, % of GDP
Kiribati Sri Lanka
2024 -22% -5.64%
2023 0.13% -8.32%
2022 -18.3% -10.2%
2021 -10.8% -11.7%
2020 3.57% -13.4%
2019 10.8% -7.52%
2018 5.18% -4.96%
2017 34.1% -5.1%
2016 20.1% -5%
2015 42.5% -6.64%
2014 35% -5.99%
2013 11.8% -5%
2012 -5.43% -5.44%
2011 -17.6% -6.01%
2010 -7.8% -6.73%
2009 -8.56% -8.33%
2008 -15.8% -5.93%
2007 -12.5% -5.81%
2006 -12.3% -5.91%
2005 -9.96% -5.93%
2004 -19.2% -6.32%
2003 -8.93% -6.15%
2002 3.13% -6.9%
2001 -10.9% -8.48%
2000 -0.03% -7.78%
1999 -1.81% -5.58%
1998 14.6% -6.79%
1997 5.92% -5.71%
1996 -20.2% -6.89%
1995 -5.14% -7.11%
1994 0.74% -7.41%
1993 6.27% -5.77%
1992 0.79% -4.95%
1991 3.87% -7.97%
1990 -4.62% -6.39%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/kiribati/sri-lanka | CC BY

In 2024, Kiribati's government deficit, the difference between spending and revenue, was $67.7M, equivalent to 22% of GDP. This compares to Sri Lanka's deficit of $5.58B, or 5.64% of GDP.

Over the past 35 years, Kiribati recorded a fiscal deficit in 19 of those years, while Sri Lanka ran a deficit in 35 years. On average, Kiribati posted an annual deficit equal to 0.38% of GDP, compared to deficit of 6.85% of GDP for Sri Lanka.

Inflation comparison by year

Inflation
Kiribati

Sri Lanka
1x
Year Consumer prices inflation
Kiribati Sri Lanka
2024 2.5% -0.43%
2023 9.3% 16.5%
2022 5.3% 49.7%
2021 2.1% 7.01%
2020 2.6% 6.15%
2019 -1.8% 3.53%
2018 0.6% 2.14%
2017 0.4% 7.7%
2016 1.9% 3.96%
2015 0.6% 3.77%
2014 2.1% 3.18%
2013 -1.5% 6.91%
2012 -3% 7.54%
2011 1.5% 6.72%
2010 -3.9% 6.22%
2009 9.8% 3.46%
2008 13.7% 22.6%
2007 3.6% 15.8%
2006 -1% 10%
2005 -0.4% 11.6%
2004 -0.7% 7.58%
2003 1.6% 6.31%
2002 3.2% 9.55%
2001 6% 14.2%
2000 0.4% 6.18%
1999 1.8% 4.69%
1998 3.7% 9.36%
1997 2.6% 9.57%

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/kiribati/sri-lanka | CC BY

Over the past 28 years, Kiribati has recorded an average annual inflation rate of 2.25%, compared with 9.34% in Sri Lanka. In 2024, inflation was 2.5% in Kiribati and -0.43% in Sri Lanka.

Top exports between countries

Kiribati
Export category Export value
Sri Lanka
Export category Export value
Raw agricultural goods $43K
Chemicals & pharma $24K
Miscellaneous $19K
Machinery & equipment $1K
Wood & paper products $1K

Balance of trade

Kiribati Sri Lanka
Current account balance
-$59.5M
2024
$1.21B
2024
Current account balance ranking
85/190
2024
53/190
2024
Current account balance, % of GDP
-19.3%
2024
+1.22%
2024
Goods imports
$227M
2024
$18.8B
2024
Goods exports
$8.49M
2024
$12.8B
2024
Service imports
$108M
2024
$3.48B
2024
Service exports
$7M
2024
$6.91B
2024
Imports of goods and services, % of GDP
94.9%
2024
22.5%
2024
Exports of goods and services, % of GDP
6.27%
2024
19.9%
2024

Economic freedom indices

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

Kiribati Sri Lanka
Economic freedom 50.8 50.3
Economic freedom ranking 158/197 162/197
Property rights 69.6 47.3
Government integrity 50.5 37.3
Judicial effectiveness 54.6 47.2
Tax burden 72.6 77
Government spending 0 89
Fiscal health 19.8 0
Business freedom 60.2 60.1
Labor freedom 65.3 54.3
Monetary freedom 76.7 65.9
Trade freedom 80 65.6
Investment freedom 30 30
Financial freedom 30 30

Economic freedom comparison by year

Kiribati
Sri Lanka
1x
Year Economic freedom index
Kiribati Sri Lanka
2026 50.8 50.3
2025 50.9 49.4
2024 51.3 49.2
2023 58.8 52.2
2022 59.2 53.3
2021 44.4 55.7
2020 45.2 57.4
2019 47.3 56.4
2018 50.8 57.8
2017 50.9 57.4
2016 46.2 59.9
2015 46.4 58.6
2014 46.3 60
2013 45.9 60.7
2012 46.9 58.3
2011 44.8 57.1
2010 43.7 54.6
2009 45.7 56
2008 - 58.4
2007 - 59.4
2006 - 58.7
2005 - 61
2004 - 61.6
2003 - 62.5
2002 - 64
2001 - 66
2000 - 63.2
1999 - 64
1998 - 64.6
1997 - 65.5
1996 - 62.5
1995 - 60.6

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

GeoRank.org/economy/kiribati/sri-lanka | CC BY

The Economic Freedom Index for Kiribati is 50.8, ranking 158/197, compared to 50.3 for Sri Lanka, ranking 162/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Kiribati Sri Lanka
Services, % of GDP
67.1%
2023
57.5%
2024
Industry, % of GDP
11.5%
2023
25.5%
2024
Agriculture, forestry, and fishing, % of GDP
27.2%
2023
8.3%
2024
GNI, Atlas method
$493M
2024
$84.6B
2024
GNI per capita, PPP
$6,060
2024
$15,240
2024
Total reserves including gold n/a
$6.09B
2024
Total reserves ranking n/a
92/177
2024
Net foreign direct investment
-$8.06M
2024
-$651M
2024
Net inflows of foreign direct investment
$8.07M
2024
$761M
2024
Net outflows of foreign direct investment
$16.4K
2024
$110M
2024
Servicing debt to the IMF, % of GNI n/a
4.98%
2024
Poverty at national poverty lines
5.5%
2023
14.3%
2019
Gross capital formation, % of GDP
25.8%
2023
27%
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/kiribati/sri-lanka | 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. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2022–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. 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.