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Economy of Mali vs Morocco compared: GDP & Debt

Updated on by Georank team

Mali has a GDP of $26.8B compared to $161B for Morocco, ranking 113/197 and 58/197 by economy size, respectively.

Mali has $13.9B in government debt (51.7% of GDP), compared to $109B (67.7% of GDP) in Morocco.

Mali vs Morocco GDP by year

Mali
Morocco
1x
Year GDP, current $
Mali Morocco
2024 $26,794,747,240 $160,610,994,055
2023 $24,813,860,599 $146,036,093,667
2022 $22,539,987,719 $131,245,312,804
2021 $22,999,245,263 $142,022,058,447
2020 $20,698,560,939 $121,353,645,057
2019 $20,477,421,885 $128,920,266,409
2018 $20,368,015,381 $127,341,147,582
2017 $18,308,362,040 $118,540,573,368
2016 $16,743,796,800 $111,572,947,005
2015 $15,583,181,170 $110,413,823,842
2014 $17,081,681,993 $119,130,841,412
2013 $15,747,192,681 $115,739,287,305
2012 $14,795,114,603 $106,937,392,311
2011 $15,452,791,789 $110,080,631,332
2010 $12,710,739,159 $100,865,329,473
2009 $12,155,217,833 $101,154,952,241
2008 $11,462,490,840 $101,822,906,949
2007 $9,699,047,443 $86,947,913,287
2006 $8,212,007,554 $75,883,823,301
2005 $7,429,066,951 $68,852,658,069
2004 $6,485,774,930 $66,114,145,451
2003 $5,605,613,011 $58,029,363,354
2002 $4,647,238,257 $47,077,192,188
2001 $4,124,281,594 $43,831,480,208
2000 $3,521,570,876 $43,017,455,402
1999 $4,091,446,054 $46,266,428,648
1998 $3,894,433,432 $46,497,608,725
1997 $3,414,879,486 $39,147,844,526
1996 $3,743,103,420 $43,161,571,528
1995 $3,373,322,735 $39,030,285,468
1994 $2,655,768,636 $35,604,137,423
1993 $3,632,801,877 $31,655,473,664
1992 $3,680,775,037 $33,711,069,431
1991 $3,576,562,682 $32,285,573,574
1990 $3,248,417,791 $30,179,954,775
1989 $2,824,822,489 $26,314,313,191
1988 $2,712,207,901 $25,705,296,184
1987 $2,437,004,680 $21,765,195,948
1986 $2,132,938,007 $19,462,085,540
1985 $1,594,347,021 $14,991,283,216
1984 $1,387,809,615 $14,824,667,954
1983 $1,496,616,127 $16,251,408,128
1982 $1,680,304,773 $17,692,276,734
1981 $2,234,583,940 $17,788,185,479
1980 $2,704,362,789 $21,728,516,153
1979 $1,595,422,956 $15,911,994,817
1978 $1,222,702,573 $13,236,946,234
1977 $1,049,838,548 $11,049,783,872
1976 $939,228,017 $9,584,297,284
1975 $830,710,615 $8,984,853,005
1974 $538,747,340 $7,675,466,449
1973 $563,683,703 $6,242,145,880
1972 $486,617,280 $5,074,117,545
1971 $395,218,629 $4,356,669,034
1970 $359,772,315 $3,956,336,244
1969 $339,913,867 $3,651,622,669
1968 $343,771,973 $3,271,422,333
1967 $275,494,478 $3,046,345,314
1966 - $2,876,401,297
1965 - $2,948,331,090
1964 - $2,798,345,299
1963 - $2,657,252,578
1962 - $2,379,611,125
1961 - $2,025,693,540
1960 - $2,037,154,742

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

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

GDP per capita in Mali vs Morocco by year

Mali
GDP per capita

GDP per capita, PPP
Morocco
GDP per capita

GDP per capita, PPP
1x
Year Current $
Mali Morocco
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,095 $3,315 $4,218 $10,415
2023 $1,044 $3,175 $3,872 $9,895
2022 $977 $3,014 $3,516 $9,310
2021 $1,027 $2,796 $3,843 $8,623
2020 $953 $2,724 $3,317 $7,705
2019 $972 $2,820 $3,560 $8,046
2018 $996 $2,684 $3,553 $7,801
2017 $924 $2,607 $3,344 $8,115
2016 $872 $2,532 $3,186 $7,853
2015 $838 $2,330 $3,190 $7,799
2014 $948 $2,185 $3,483 $7,237
2013 $902 $2,059 $3,425 $7,542
2012 $873 $1,990 $3,206 $7,308
2011 $938 $2,046 $3,345 $7,274
2010 $797 $2,012 $3,107 $6,849
2009 $787 $1,945 $3,158 $6,629
2008 $767 $1,893 $3,222 $6,437
2007 $671 $1,852 $2,788 $6,058
2006 $587 $1,832 $2,466 $5,781
2005 $549 $1,771 $2,268 $5,275
2004 $495 $1,730 $2,207 $5,025
2003 $442 $1,715 $1,962 $4,741
2002 $378 $1,581 $1,612 $4,436
2001 $346 $1,559 $1,521 $4,269
2000 $305 $1,357 $1,513 $3,930
1999 $364 $1,376 $1,651 $3,801
1998 $357 $1,332 $1,683 $3,740
1997 $321 $1,267 $1,439 $3,502
1996 $360 $1,224 $1,610 $3,551
1995 $331 $1,154 $1,478 $3,152
1994 $266.5 $1,147 $1,369 $3,315
1993 $372 $1,087 $1,236 $2,979
1992 $385 $1,039 $1,337 $2,979
1991 $382 $1,091 $1,302 $3,025
1990 $354 $956 $1,238 $2,777
1989 $314 - $1,099 -
1988 $307 - $1,094 -
1987 $280.7 - $944 -
1986 $250 - $861 -
1985 $190.4 - $678 -
1984 $169.1 - $687 -
1983 $186.3 - $772 -
1982 $213.8 - $862 -
1981 $290.5 - $890 -
1980 $359 - $1,117 -
1979 $216.3 - $839 -
1978 $169.1 - $716 -
1977 $148.1 - $613 -
1976 $134.9 - $545 -
1975 $121.5 - $524 -
1974 $80.2 - $459 -
1973 $85.4 - $382 -
1972 $75.1 - $319 -
1971 $62 - $280.6 -
1970 $57.3 - $261.5 -
1969 $55 - $247.8 -
1968 $56.5 - $228 -
1967 $46 - $218.1 -
1966 - - $211.5 -
1965 - - $222.7 -
1964 - - $216.9 -
1963 - - $211.3 -
1962 - - $194.2 -
1961 - - $169.8 -
1960 - - $175.2 -

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

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

Mali's GDP per capita is $1,095, ranking 173/197, compared to $4,218 in Morocco, ranking 127/197. Adjusted for purchasing power (GDP per capita PPP), Mali ranks 174th at $3,315, while Morocco ranks 132nd at $10,415.

Economic indicators

Mali Morocco
Gross domestic product
$26.8B
2024
$161B
2024
GDP rank
113/197
2024
58/197
2024
GDP growth
4.99%
2023-2024
3.79%
2023-2024
GDP per capita
$1,095
2024
$4,218
2024
GDP per capita rank
173/197
2024
127/197
2024
GDP per capita, PPP
$3,315
2024
$10,415
2024
GDP per capita PPP rank
174/197
2024
132/197
2024
Government debt
$13.9B
2024
$109B
2024
Debt-to-GDP ratio
51.7%
2024
67.7%
2024
Government debt per person
$566
2024
$2,857
2024
Government debt per person rank
161/185
2024
104/185
2024
Average annual personal income after taxes
$1,463
2026
$5,678
2026
Market capitalization of domestic companies n/a
$74.5B
2024
Number of billionaires n/a
3
2025
Income share by richest 10%
28.3%
2021
31.9%
2013
Income share by poorest 10%
3.2%
2021
2.7%
2013
Government expenditure, % of GDP
24.7%
2024
33%
2024
Consumer prices inflation
3.2%
2023-2024
0.99%
2023-2024
Central bank interest rate n/a
2.25%
2025
Unemployment rate
5.45%
2023
11.8%
2022
Population
26143152
38871720

Spending and national debt comparison by year

Mali
Spending

Debt
Morocco
Spending

Debt
1x
Year % of GDP
Mali Morocco
Government spending Government debt Government spending Government debt
2024 24.7% 51.7% 33% 67.7%
2023 24.8% 51.9% 32% 68.7%
2022 24.4% 50.3% 33.7% 71.4%
2021 26.9% 51.6% 31% 69.4%
2020 26.1% 47.3% 34.1% 72.2%
2019 23.1% 40.7% 27.6% 60.3%
2018 20.3% 37.5% 27.8% 60.5%
2017 22.9% 38.2% 27.9% 60.3%
2016 22.3% 37.2% 28.6% 60.1%
2015 20.9% 30.7% 28.5% 58.4%
2014 20% 26.9% 30.7% 58.6%
2013 19.8% 26.4% 30.4% 57.1%
2012 15.5% 25.4% 32.5% 52.3%
2011 20.6% 24% 31.2% 48.6%
2010 20.3% 25.3% 28.7% 45.3%
2009 22.8% 21.9% 28.1% 42.6%
2008 18.8% 20.1% 28.3% 42%
2007 21.5% 18.5% 26.4% 47.1%
2006 22.1% 18.1% 26% 50.6%
2005 21.6% 46.6% 28.6% 54.8%
2004 21.8% 42.4% 24.5% 54.4%
2003 20.8% 44.1% 24.1% 56.9%
2002 19.9% 42.6% 25.8% 59.4%
2001 18.3% 77.5% 23.7% 60.4%
2000 19.4% 90.5% 22.8% 64.9%
1999 - - 18.4% 63.4%
1998 - - 18.7% 64.5%
1997 - - 18.6% 68%
1996 - - 17.6% 65.3%
1995 - - 21.3% 72.2%
1994 - - 21.7% 69.3%
1993 - - 23.1% 74.7%
1992 - - 22.3% 67%
1991 - - 20.8% 59.1%
1990 - - 22.6% 70.5%

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

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

In 2024, Mali's government spending was $6.61B, accounting for 24.7% of its GDP, while Morocco spent $53.1B, or 33% of GDP.

Debt-to-GDP ratio is 51.7% in Mali and 67.7% in Morocco, ranking 102/185 and 60/185, respectively.

Government deficit by year

Deficit/surplus
Mali

Morocco
1x
Year Deficit/surplus, % of GDP
Mali Morocco
2024 -2.57% -3.92%
2023 -3.57% -4.41%
2022 -4.75% -5.37%
2021 -4.91% -5.92%
2020 -5.42% -7.15%
2019 -1.68% -3.8%
2018 -4.74% -3.52%
2017 -2.86% -3.3%
2016 -3.95% -4.49%
2015 -1.82% -4.59%
2014 -2.89% -4.78%
2013 -2.37% -4.7%
2012 -0.96% -6.63%
2011 -3.42% -6.08%
2010 -2.57% -3.93%
2009 -3.71% -1.63%
2008 -1.97% 0.63%
2007 -2.78% -0.12%
2006 27.8% -1.8%
2005 -2.76% -5.46%
2004 -2.36% -3.31%
2003 -1.19% -3.74%
2002 -3.09% -4.37%
2001 -2.8% -3.79%
2000 -2.64% -1.97%
1999 - 3.21%
1998 - 1.47%
1997 - 1.5%
1996 - 0.87%
1995 - -2.54%
1994 - -2.51%
1993 - -2%
1992 - -1.84%
1991 - -0.9%
1990 - -1.32%

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

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

In 2024, Mali's government deficit, the difference between spending and revenue, was $687M, equivalent to 2.57% of GDP. This compares to Morocco's deficit of $6.3B, or 3.92% of GDP.

Over the past 25 years, Mali recorded a fiscal deficit in 24 of those years, while Morocco ran a deficit in 24 years. On average, Mali posted an annual deficit equal to 1.76% of GDP, compared to deficit of 3.93% of GDP for Morocco.

Inflation comparison by year

Inflation
Mali

Morocco
1x
Year Consumer prices inflation
Mali Morocco
2024 3.2% 0.99%
2023 2.1% 6.09%
2022 9.7% 6.66%
2021 3.8% 1.4%
2020 0.5% 0.71%
2019 -3% 0.3%
2018 1.9% 1.8%
2017 2.4% 0.75%
2016 -1.8% 1.64%
2015 1.4% 1.56%
2014 0.9% 0.44%
2013 -0.6% 1.88%
2012 5.3% 1.29%
2011 3% 0.91%
2010 1.2% 0.99%
2009 2.4% 0.97%
2008 9.2% 3.71%
2007 1.4% 2.04%
2006 1.6% 3.28%
2005 6.4% 0.98%
2004 -3.1% 1.49%
2003 -1.3% 1.17%
2002 5% 2.8%
2001 5.2% 0.62%
2000 -0.8% 1.89%
1999 -1.2% 0.68%
1998 4.1% 2.75%
1997 -0.7% 1.04%

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/mali/morocco | CC BY

Over the past 28 years, Mali has recorded an average annual inflation rate of 2.08%, compared with 1.82% in Morocco. In 2024, inflation was 3.2% in Mali and 0.99% in Morocco.

Top exports between countries

Mali
Export category Export value
Raw agricultural goods $2.56M
Raw materials & minerals $1.36M
Machinery & equipment $217K
Wood & paper products $182K
Textiles & consumer goods $81K
Processed food, beverages & tobacco $47K
Chemicals & pharma $34K
Animal & marine products $10K
Metals $2K
Morocco
Export category Export value
Machinery & equipment $41.1M
Animal & marine products $20.6M
Processed food, beverages & tobacco $20M
Raw materials & minerals $12.9M
Chemicals & pharma $9.66M
Textiles & consumer goods $4.73M
Metals $3.26M
Raw agricultural goods $2.69M
Wood & paper products $719K
Miscellaneous $23K

Balance of trade

Mali Morocco
Current account balance
-$1.61B
2023
-$1.87B
2024
Current account balance ranking
136/190
2023
141/190
2024
Current account balance, % of GDP
-6.49%
2023
-1.16%
2024
Goods imports
$5.73B
2023
$66.5B
2024
Goods exports
$5.65B
2023
$39.3B
2024
Service imports
$2.34B
2023
$14.3B
2024
Service exports
$475M
2023
$28.2B
2024
Imports of goods and services, % of GDP
27.3%
2024
50.2%
2024
Exports of goods and services, % of GDP
22.6%
2024
42%
2024

Economic freedom indices

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

Mali Morocco
Economic freedom 52.1 61.8
Economic freedom ranking 150/197 91/197
Property rights 13.8 55.2
Government integrity 23.2 35.6
Judicial effectiveness 23.3 32.5
Tax burden 67.9 65.5
Government spending 81.8 67.5
Fiscal health 73.6 57.5
Business freedom 40.8 72.1
Labor freedom 54.1 46.2
Monetary freedom 78.2 79.6
Trade freedom 64 69.8
Investment freedom 65 80
Financial freedom 40 80

Economic freedom comparison by year

Mali
Morocco
1x
Year Economic freedom index
Mali Morocco
2026 52.1 61.8
2025 52.6 60.3
2024 52.5 56.8
2023 54.5 58.4
2022 55.9 59.2
2021 55.6 63.3
2020 55.9 63.3
2019 58.1 62.9
2018 57.6 61.9
2017 58.6 61.5
2016 56.5 61.3
2015 56.4 60.1
2014 55.5 58.3
2013 56.4 59.6
2012 55.8 60.2
2011 56.3 59.6
2010 55.6 59.2
2009 55.6 57.7
2008 55.6 55.6
2007 54.7 56.4
2006 54.1 51.5
2005 57.3 52.2
2004 56.6 56.7
2003 58.6 57.8
2002 61.1 59
2001 60.1 63.9
2000 60.3 63.2
1999 58.4 63.8
1998 57.3 61.1
1997 56.4 64.7
1996 57 64.3
1995 52.4 62.8

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

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

The Economic Freedom Index for Mali is 52.1, ranking 150/197, compared to 61.8 for Morocco, ranking 91/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Mali Morocco
Services, % of GDP
36.3%
2024
52.7%
2024
Industry, % of GDP
23.5%
2024
25.6%
2024
Agriculture, forestry, and fishing, % of GDP
33.3%
2024
10.6%
2024
GNI, Atlas method
$25.2B
2024
$149B
2024
GNI per capita, PPP
$3,230
2024
$10,260
2024
Total reserves including gold n/a
$37.1B
2024
Total reserves ranking n/a
52/177
2024
Net foreign direct investment
-$673M
2023
-$948M
2024
Net inflows of foreign direct investment
$921M
2024
$1.64B
2024
Net outflows of foreign direct investment
$78.1M
2024
$691M
2024
Servicing debt to the IMF, % of GNI
1.41%
2024
5.63%
2024
Poverty at national poverty lines
43.3%
2024
3.9%
2022
Gross capital formation, % of GDP
19.5%
2024
30.1%
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/mali/morocco | 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 (2023, 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.