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Economy of Luxembourg vs Mali compared: GDP & Debt

Updated on by Georank team

Luxembourg has a GDP of $93.3B compared to $26.8B for Mali, ranking 74/197 and 113/197 by economy size, respectively.

Luxembourg has $24.5B in government debt (26.3% of GDP), compared to $13.9B (51.7% of GDP) in Mali.

Luxembourg vs Mali GDP by year

Luxembourg
Mali
1x
Year GDP, current $
Luxembourg Mali
2024 $93,279,851,863 $26,794,747,240
2023 $88,788,881,539 $24,813,860,599
2022 $80,801,680,397 $22,539,987,719
2021 $86,386,759,695 $22,999,245,263
2020 $73,670,782,100 $20,698,560,939
2019 $69,872,035,114 $20,477,421,885
2018 $71,085,623,495 $20,368,015,381
2017 $65,712,180,343 $18,308,362,040
2016 $62,216,885,436 $16,743,796,800
2015 $60,071,584,216 $15,583,181,170
2014 $68,804,811,898 $17,081,681,993
2013 $65,203,276,467 $15,747,192,681
2012 $59,776,383,527 $14,795,114,603
2011 $61,696,281,326 $15,452,791,789
2010 $56,213,985,987 $12,710,739,159
2009 $54,467,289,898 $12,155,217,833
2008 $58,844,277,702 $11,462,490,840
2007 $51,587,401,416 $9,699,047,443
2006 $42,910,146,296 $8,212,007,554
2005 $37,672,280,120 $7,429,066,951
2004 $35,064,843,793 $6,485,774,930
2003 $29,667,268,248 $5,605,613,011
2002 $23,649,833,332 $4,647,238,257
2001 $21,387,533,703 $4,124,281,594
2000 $21,230,182,989 $3,521,570,876
1999 $21,899,317,599 $4,091,446,054
1998 $20,150,053,345 $3,894,433,432
1997 $19,563,836,265 $3,414,879,486
1996 $20,895,314,658 $3,743,103,420
1995 $20,853,093,870 $3,373,322,735
1994 $17,701,798,891 $2,655,768,636
1993 $15,925,521,222 $3,632,801,877
1992 $15,518,702,635 $3,680,775,037
1991 $13,834,219,728 $3,576,562,682
1990 $12,778,792,854 $3,248,417,791
1989 $10,037,674,038 $2,824,822,489
1988 $9,418,167,855 $2,712,207,901
1987 $8,320,902,215 $2,437,004,680
1986 $6,685,595,088 $2,132,938,007
1985 $4,577,211,767 $1,594,347,021
1984 $4,438,435,493 $1,387,809,615
1983 $4,524,217,751 $1,496,616,127
1982 $4,602,316,793 $1,680,304,773
1981 $5,053,665,797 $2,234,583,940
1980 $6,019,805,490 $2,704,362,789
1979 $5,516,982,664 $1,595,422,956
1978 $4,718,539,772 $1,222,702,573
1977 $3,789,321,328 $1,049,838,548
1976 $3,423,586,207 $939,228,017
1975 $3,123,333,333 $830,710,615
1974 $3,183,637,117 $538,747,340
1973 $2,609,875,802 $563,683,703
1972 $1,901,697,370 $486,617,280
1971 $1,518,773,421 $395,218,629
1970 $1,457,768,455 $359,772,315
1969 $1,245,432,991 $339,913,867
1968 $1,075,561,623 $343,771,973
1967 $983,052,315 $275,494,478
1966 $976,717,015 -
1965 $929,477,285 -
1964 $910,877,686 -
1963 $797,902,154 -
1962 $747,846,862 -
1961 $710,163,719 -
1960 $709,941,874 -

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

GeoRank.org/economy/luxembourg/mali | CC BY

GDP per capita in Luxembourg vs Mali by year

Luxembourg
GDP per capita

GDP per capita, PPP
Mali
GDP per capita

GDP per capita, PPP
1x
Year Current $
Luxembourg Mali
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $137,782 $155,941 $1,095 $3,315
2023 $133,231 $150,508 $1,044 $3,175
2022 $123,720 $146,919 $977 $3,014
2021 $134,966 $136,772 $1,027 $2,796
2020 $116,860 $122,067 $953 $2,724
2019 $112,697 $121,372 $972 $2,820
2018 $116,927 $116,638 $996 $2,684
2017 $110,193 $114,986 $924 $2,607
2016 $106,899 $113,365 $872 $2,532
2015 $105,462 $107,860 $838 $2,330
2014 $123,679 $105,296 $948 $2,185
2013 $120,000 $100,925 $902 $2,059
2012 $112,585 $96,636 $873 $1,990
2011 $119,025 $94,475 $938 $2,046
2010 $110,886 $90,336 $797 $2,012
2009 $109,420 $86,919 $787 $1,945
2008 $120,422 $90,971 $767 $1,893
2007 $107,475 $85,126 $671 $1,852
2006 $90,789 $78,861 $587 $1,832
2005 $80,988 $68,788 $549 $1,771
2004 $76,545 $64,686 $495 $1,730
2003 $65,689 $60,192 $442 $1,715
2002 $53,006 $58,576 $378 $1,581
2001 $48,440 $56,136 $346 $1,559
2000 $48,660 $55,136 $305 $1,357
1999 $50,872 $49,845 $364 $1,376
1998 $47,445 $44,270 $357 $1,332
1997 $46,642 $42,488 $321 $1,267
1996 $50,444 $39,722 $360 $1,224
1995 $51,032 $38,345 $331 $1,154
1994 $43,933 $37,551 $266.5 $1,147
1993 $40,067 $35,899 $372 $1,087
1992 $39,571 $34,108 $385 $1,039
1991 $35,747 $33,191 $382 $1,091
1990 $33,465 $29,949 $354 $956
1989 $26,618 - $314 -
1988 $25,219 - $307 -
1987 $22,443 - $280.7 -
1986 $18,150 - $250 -
1985 $12,482 - $190.4 -
1984 $12,127 - $169.1 -
1983 $12,374 - $186.3 -
1982 $12,591 - $213.8 -
1981 $13,837 - $290.5 -
1980 $16,531 - $359 -
1979 $15,204 - $216.3 -
1978 $13,034 - $169.1 -
1977 $10,486 - $148.1 -
1976 $9,491 - $134.9 -
1975 $8,701 - $121.5 -
1974 $8,967 - $80.2 -
1973 $7,447 - $85.4 -
1972 $5,487 - $75.1 -
1971 $4,435 - $62 -
1970 $4,298 - $57.3 -
1969 $3,690 - $55 -
1968 $3,203 - $56.5 -
1967 $2,935 - $46 -
1966 $2,925 - - -
1965 $2,804 - - -
1964 $2,779 - - -
1963 $2,462 - - -
1962 $2,332 - - -
1961 $2,241 - - -
1960 $2,261 - - -

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

GeoRank.org/economy/luxembourg/mali | CC BY

Luxembourg's GDP per capita is $137,782, ranking 3/197, compared to $1,095 in Mali, ranking 173/197. Adjusted for purchasing power (GDP per capita PPP), Luxembourg ranks 1st at $155,941, while Mali ranks 174th at $3,315.

Economic indicators

Luxembourg Mali
Gross domestic product
$93.3B
2024
$26.8B
2024
GDP rank
74/197
2024
113/197
2024
GDP growth
0.36%
2023-2024
4.99%
2023-2024
GDP per capita
$137,782
2024
$1,095
2024
GDP per capita rank
3/197
2024
173/197
2024
GDP per capita, PPP
$155,941
2024
$3,315
2024
GDP per capita PPP rank
1/197
2024
174/197
2024
Government debt
$24.5B
2024
$13.9B
2024
Debt-to-GDP ratio
26.3%
2024
51.7%
2024
Government debt per person
$36,221
2024
$566
2024
Government debt per person rank
19/185
2024
161/185
2024
Average annual personal income after taxes
$69,593
2026
$1,463
2026
Market capitalization of domestic companies
$41.9B
2024
n/a
Number of billionaires
1
2025
n/a
Income share by richest 10%
25%
2023
28.3%
2021
Income share by poorest 10%
2.8%
2023
3.2%
2021
Government expenditure, % of GDP
46.9%
2024
24.7%
2024
Consumer prices inflation
2.05%
2023-2024
3.2%
2023-2024
Unemployment rate
6.42%
2024
5.45%
2023
Population
693885
26143152

Spending and national debt comparison by year

Luxembourg
Spending

Debt
Mali
Spending

Debt
1x
Year % of GDP
Luxembourg Mali
Government spending Government debt Government spending Government debt
2024 46.9% 26.3% 24.7% 51.7%
2023 46.4% 24.7% 24.8% 51.9%
2022 44.3% 24.9% 24.4% 50.3%
2021 42.4% 24.2% 26.9% 51.6%
2020 47% 24.5% 26.1% 47.3%
2019 43.1% 22.3% 23.1% 40.7%
2018 42.3% 20.9% 20.3% 37.5%
2017 41.3% 21.8% 22.9% 38.2%
2016 40% 19.6% 22.3% 37.2%
2015 40.4% 21.1% 20.9% 30.7%
2014 40.6% 21.9% 20% 26.9%
2013 41.2% 22.4% 19.8% 26.4%
2012 41.8% 20.8% 15.5% 25.4%
2011 41.5% 18.5% 20.6% 24%
2010 42% 19.1% 20.3% 25.3%
2009 42.7% 15.3% 22.8% 21.9%
2008 37.9% 14.6% 18.8% 20.1%
2007 37.4% 8.09% 21.5% 18.5%
2006 39.4% 8.21% 22.1% 18.1%
2005 43.4% 7.95% 21.6% 46.6%
2004 43.7% 7.83% 21.8% 42.4%
2003 43.3% 7.43% 20.8% 44.1%
2002 41.8% 7.45% 19.9% 42.6%
2001 38.1% 7.62% 18.3% 77.5%
2000 38% 7.49% 19.4% 90.5%
1999 41.7% 8.39% - -
1998 43.9% 9.51% - -
1997 44.2% 10.1% - -
1996 42.5% 10.2% - -
1995 42% 10.3% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20).

GeoRank.org/economy/luxembourg/mali | CC BY

In 2024, Luxembourg's government spending was $43.7B, accounting for 46.9% of its GDP, while Mali spent $6.61B, or 24.7% of GDP.

Debt-to-GDP ratio is 26.3% in Luxembourg and 51.7% in Mali, ranking 162/185 and 102/185, respectively.

Government deficit by year

Deficit/surplus
Luxembourg

Mali
1x
Year Deficit/surplus, % of GDP
Luxembourg Mali
2024 1.03% -2.57%
2023 -0.78% -3.57%
2022 0.18% -4.75%
2021 1% -4.91%
2020 -3.09% -5.42%
2019 2.68% -1.68%
2018 3.17% -4.74%
2017 1.37% -2.86%
2016 1.89% -3.95%
2015 1.3% -1.82%
2014 1.33% -2.89%
2013 0.84% -2.37%
2012 0.5% -0.96%
2011 0.65% -3.42%
2010 -0.26% -2.57%
2009 -0.21% -3.71%
2008 3.37% -1.97%
2007 4.35% -2.78%
2006 1.9% 27.8%
2005 -0.21% -2.76%
2004 -1.39% -2.36%
2003 0.28% -1.19%
2002 2.03% -3.09%
2001 5.62% -2.8%
2000 5.55% -2.64%
1999 3.24% -
1998 2.98% -
1997 2.65% -
1996 2.37% -
1995 2.71% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20).

GeoRank.org/economy/luxembourg/mali | CC BY

In 2024, Luxembourg's government surplus, the difference between spending and revenue, was $961M, equivalent to 1.03% of GDP. This compares to Mali's deficit of $687M, or 2.57% of GDP.

Over the past 25 years, Luxembourg recorded a fiscal deficit in 6 of those years, while Mali ran a deficit in 24 years. On average, Luxembourg posted an annual surplus equal to 1.32% of GDP, compared to deficit of 1.76% of GDP for Mali.

Inflation comparison by year

Inflation
Luxembourg

Mali
1x
Year Consumer prices inflation
Luxembourg Mali
2024 2.05% 3.2%
2023 3.74% 2.1%
2022 6.34% 9.7%
2021 2.53% 3.8%
2020 0.82% 0.5%
2019 1.74% -3%
2018 1.53% 1.9%
2017 1.73% 2.4%
2016 0.29% -1.8%
2015 0.47% 1.4%
2014 0.63% 0.9%
2013 1.73% -0.6%
2012 2.66% 5.3%
2011 3.41% 3%
2010 2.27% 1.2%
2009 0.37% 2.4%
2008 3.4% 9.2%
2007 2.31% 1.4%
2006 2.67% 1.6%
2005 2.49% 6.4%
2004 2.23% -3.1%
2003 2.05% -1.3%
2002 2.07% 5%
2001 2.66% 5.2%
2000 3.15% -0.8%
1999 1.03% -1.2%
1998 0.96% 4.1%
1997 1.37% -0.7%

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/luxembourg/mali | CC BY

Over the past 28 years, Luxembourg has recorded an average annual inflation rate of 2.1%, compared with 2.08% in Mali. In 2024, inflation was 2.05% in Luxembourg and 3.2% in Mali.

Top exports between countries

Luxembourg
Export category Export value
Raw materials & minerals $4.8M
Machinery & equipment $2.85M
Metals $86K
Animal & marine products $50K
Textiles & consumer goods $47K
Chemicals & pharma $19K
Miscellaneous $3K
Processed food, beverages & tobacco $1K
Wood & paper products $1K
Mali
Export category Export value
Machinery & equipment $14.1M
Textiles & consumer goods $4.42M
Raw materials & minerals $777K
Metals $65K

Balance of trade

Luxembourg Mali
Current account balance
$4.1B
2024
-$1.61B
2023
Current account balance ranking
35/190
2024
136/190
2023
Current account balance, % of GDP
+4.4%
2024
-6.49%
2023
Goods imports
$29.4B
2024
$5.73B
2023
Goods exports
$31.3B
2024
$5.65B
2023
Service imports
$117B
2024
$2.34B
2023
Service exports
$150B
2024
$475M
2023
Imports of goods and services, % of GDP
159.7%
2024
27.3%
2024
Exports of goods and services, % of GDP
191.5%
2024
22.6%
2024

Economic freedom indices

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

Luxembourg Mali
Economic freedom 79.7 52.1
Economic freedom ranking 7/197 150/197
Property rights 96.6 13.8
Government integrity 88.7 23.2
Judicial effectiveness 99.1 23.3
Tax burden 62.3 67.9
Government spending 36.9 81.8
Fiscal health 98.6 73.6
Business freedom 89.5 40.8
Labor freedom 56.7 54.1
Monetary freedom 74.1 78.2
Trade freedom 79.4 64
Investment freedom 95 65
Financial freedom 80 40

Economic freedom comparison by year

Luxembourg
Mali
1x
Year Economic freedom index
Luxembourg Mali
2026 79.7 52.1
2025 79.5 52.6
2024 79.2 52.5
2023 78.4 54.5
2022 80.6 55.9
2021 76 55.6
2020 75.8 55.9
2019 75.9 58.1
2018 76.4 57.6
2017 75.9 58.6
2016 73.9 56.5
2015 73.2 56.4
2014 74.2 55.5
2013 74.2 56.4
2012 74.5 55.8
2011 76.2 56.3
2010 75.4 55.6
2009 75.2 55.6
2008 74.7 55.6
2007 74.6 54.7
2006 75.3 54.1
2005 76.3 57.3
2004 78.9 56.6
2003 79.9 58.6
2002 79.4 61.1
2001 80.1 60.1
2000 76.4 60.3
1999 72.4 58.4
1998 72.7 57.3
1997 72.8 56.4
1996 72.5 57
1995 - 52.4

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

GeoRank.org/economy/luxembourg/mali | CC BY

The Economic Freedom Index for Luxembourg is 79.7, ranking 7/197, compared to 52.1 for Mali, ranking 150/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Luxembourg Mali
Services, % of GDP
81.2%
2024
36.3%
2024
Industry, % of GDP
9.66%
2024
23.5%
2024
Agriculture, forestry, and fishing, % of GDP
0.21%
2024
33.3%
2024
GNI, Atlas method
$57.3B
2024
$25.2B
2024
GNI per capita, PPP
$110,650
2024
$3,230
2024
Total reserves including gold
$2.79B
2024
n/a
Total reserves ranking
119/177
2024
n/a
Net foreign direct investment
$21.4B
2024
-$673M
2023
Net inflows of foreign direct investment
$106B
2024
$921M
2024
Net outflows of foreign direct investment
$109B
2024
$78.1M
2024
Servicing debt to the IMF, % of GNI n/a
1.41%
2024
Poverty at national poverty lines
17.3%
2021
43.3%
2024
Gross capital formation, % of GDP
15.8%
2024
19.5%
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/luxembourg/mali | 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 (1995–2024, 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 (2020–2024, 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.