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Economy of Mali vs Russia compared: GDP & Debt

Updated on by Georank team

Mali has a GDP of $26.8B compared to $2.17T for Russia, ranking 113/197 and 11/197 by economy size, respectively.

Mali has $13.9B in government debt (51.7% of GDP), compared to $440B (20.3% of GDP) in Russia.

Mali vs Russia GDP by year

Mali
Russia
1x
Year GDP, current $
Mali Russia
2024 $26,794,747,240 $2,173,835,806,672
2023 $24,813,860,599 $2,071,505,725,031
2022 $22,539,987,719 $2,291,612,121,335
2021 $22,999,245,263 $1,829,186,719,575
2020 $20,698,560,939 $1,493,075,894,362
2019 $20,477,421,885 $1,693,115,002,708
2018 $20,368,015,381 $1,657,328,773,461
2017 $18,308,362,040 $1,574,199,360,089
2016 $16,743,796,800 $1,276,786,350,881
2015 $15,583,181,170 $1,363,482,182,198
2014 $17,081,681,993 $2,059,241,589,895
2013 $15,747,192,681 $2,292,470,078,346
2012 $14,795,114,603 $2,208,293,553,878
2011 $15,452,791,789 $2,045,922,753,398
2010 $12,710,739,159 $1,524,916,715,224
2009 $12,155,217,833 $1,222,645,900,056
2008 $11,462,490,840 $1,660,848,058,303
2007 $9,699,047,443 $1,299,703,478,482
2006 $8,212,007,554 $989,932,071,353
2005 $7,429,066,951 $764,015,973,481
2004 $6,485,774,930 $591,016,690,732
2003 $5,605,613,011 $430,347,420,185
2002 $4,647,238,257 $345,470,494,418
2001 $4,124,281,594 $306,602,070,621
2000 $3,521,570,876 $259,710,142,197
1999 $4,091,446,054 $195,907,128,351
1998 $3,894,433,432 $270,955,486,862
1997 $3,414,879,486 $404,928,954,192
1996 $3,743,103,420 $391,724,890,744
1995 $3,373,322,735 $395,537,185,735
1994 $2,655,768,636 $395,077,301,248
1993 $3,632,801,877 $435,083,713,851
1992 $3,680,775,037 $460,290,556,901
1991 $3,576,562,682 $517,962,962,963
1990 $3,248,417,791 $517,014,446,228
1989 $2,824,822,489 $506,631,299,735
1988 $2,712,207,901 $554,828,660,436
1987 $2,437,004,680 -
1986 $2,132,938,007 -
1985 $1,594,347,021 -
1984 $1,387,809,615 -
1983 $1,496,616,127 -
1982 $1,680,304,773 -
1981 $2,234,583,940 -
1980 $2,704,362,789 -
1979 $1,595,422,956 -
1978 $1,222,702,573 -
1977 $1,049,838,548 -
1976 $939,228,017 -
1975 $830,710,615 -
1974 $538,747,340 -
1973 $563,683,703 -
1972 $486,617,280 -
1971 $395,218,629 -
1970 $359,772,315 -
1969 $339,913,867 -
1968 $343,771,973 -
1967 $275,494,478 -

Data sources: World Bank | Economy & Growth (1967–2024, retrieved 2026-04-06).

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

GDP per capita in Mali vs Russia by year

Mali
GDP per capita

GDP per capita, PPP
Russia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Mali Russia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,095 $3,315 $15,145 $47,405
2023 $1,044 $3,175 $14,403 $44,269
2022 $977 $3,014 $15,888 $40,939
2021 $1,027 $2,796 $12,637 $38,638
2020 $953 $2,724 $10,280 $31,491
2019 $972 $2,820 $11,640 $30,964
2018 $996 $2,684 $11,399 $28,629
2017 $924 $2,607 $10,835 $25,778
2016 $872 $2,532 $8,804 $24,012
2015 $838 $2,330 $9,427 $23,994
2014 $948 $2,185 $14,277 $25,688
2013 $902 $2,059 $15,941 $26,020
2012 $873 $1,990 $15,402 $24,274
2011 $938 $2,046 $14,305 $22,790
2010 $797 $2,012 $10,675 $20,490
2009 $787 $1,945 $8,563 $19,390
2008 $767 $1,893 $11,635 $20,164
2007 $671 $1,852 $9,101 $16,648
2006 $587 $1,832 $6,920 $14,912
2005 $549 $1,771 $5,323 $11,822
2004 $495 $1,730 $4,102 $10,227
2003 $442 $1,715 $2,975 $9,255
2002 $378 $1,581 $2,378 $8,037
2001 $346 $1,559 $2,100 $7,361
2000 $305 $1,357 $1,772 $6,825
1999 $364 $1,376 $1,331 $5,914
1998 $357 $1,332 $1,835 $5,465
1997 $321 $1,267 $2,738 $5,700
1996 $360 $1,224 $2,644 $5,518
1995 $331 $1,154 $2,666 $5,613
1994 $266.5 $1,147 $2,662 $5,734
1993 $372 $1,087 $2,931 $6,420
1992 $385 $1,039 $3,099 $6,862
1991 $382 $1,091 $3,490 $7,858
1990 $354 $956 $3,494 $8,028
1989 $314 - $3,430 -
1988 $307 - $3,778 -
1987 $280.7 - - -
1986 $250 - - -
1985 $190.4 - - -
1984 $169.1 - - -
1983 $186.3 - - -
1982 $213.8 - - -
1981 $290.5 - - -
1980 $359 - - -
1979 $216.3 - - -
1978 $169.1 - - -
1977 $148.1 - - -
1976 $134.9 - - -
1975 $121.5 - - -
1974 $80.2 - - -
1973 $85.4 - - -
1972 $75.1 - - -
1971 $62 - - -
1970 $57.3 - - -
1969 $55 - - -
1968 $56.5 - - -
1967 $46 - - -

Data sources: World Bank | Economy & Growth (1967–2024, retrieved 2026-04-06).

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

Mali's GDP per capita is $1,095, ranking 173/197, compared to $15,145 in Russia, ranking 68/197. Adjusted for purchasing power (GDP per capita PPP), Mali ranks 174th at $3,315, while Russia ranks 50th at $47,405.

Economic indicators

Mali Russia
Gross domestic product
$26.8B
2024
$2.17T
2024
GDP rank
113/197
2024
11/197
2024
GDP growth
4.99%
2023-2024
4.34%
2023-2024
GDP per capita
$1,095
2024
$15,145
2024
GDP per capita rank
173/197
2024
68/197
2024
GDP per capita, PPP
$3,315
2024
$47,405
2024
GDP per capita PPP rank
174/197
2024
50/197
2024
Government debt
$13.9B
2024
$440B
2024
Debt-to-GDP ratio
51.7%
2024
20.3%
2024
Government debt per person
$566
2024
$3,067
2024
Government debt per person rank
161/185
2024
98/185
2024
Average annual personal income after taxes
$1,463
2026
$10,464
2026
Market capitalization of domestic companies n/a
$650B
2023
Number of millionaires n/a
426,000
2025
Number of billionaires n/a
140
2025
Income share by richest 10%
28.3%
2021
25.1%
2023
Income share by poorest 10%
3.2%
2021
3.1%
2023
Government expenditure, % of GDP
24.7%
2024
36.9%
2024
Consumer prices inflation
3.2%
2023-2024
8.4%
2023-2024
Central bank interest rate n/a
16%
2025
Unemployment rate
5.45%
2023
2.43%
2024
Population
26143152
141906741

Spending and national debt comparison by year

Mali
Spending

Debt
Russia
Spending

Debt
1x
Year % of GDP
Mali Russia
Government spending Government debt Government spending Government debt
2024 24.7% 51.7% 36.9% 20.3%
2023 24.8% 51.9% 35.7% 19.5%
2022 24.4% 50.3% 35.2% 18.5%
2021 26.9% 51.6% 34.9% 16.5%
2020 26.1% 47.3% 39.2% 19.2%
2019 23.1% 40.7% 33.8% 13.7%
2018 20.3% 37.5% 32.6% 13.6%
2017 22.9% 38.2% 34.8% 14.3%
2016 22.3% 37.2% 36.6% 14.8%
2015 20.9% 30.7% 35.3% 15.3%
2014 20% 26.9% 34.9% 15.1%
2013 19.8% 26.4% 34.7% 12.3%
2012 15.5% 25.4% 34% 11.2%
2011 20.6% 24% 33.3% 10.3%
2010 20.3% 25.3% 35.5% 10.1%
2009 22.8% 21.9% 38.6% 9.92%
2008 18.8% 20.1% 32% 7.45%
2007 21.5% 18.5% 31.9% 8.03%
2006 22.1% 18.1% 29% 9.8%
2005 21.6% 46.6% 29.5% 14.9%
2004 21.8% 42.4% 29.6% 20.8%
2003 20.8% 44.1% 32.6% 28.3%
2002 19.9% 42.6% 33.8% 37.6%
2001 18.3% 77.5% 31.5% 44.4%
2000 19.4% 90.5% 30.7% 55.9%
1999 - - 34.3% 92.4%
1998 - - 39.7% 135.2%
1997 - - - 51.5%
1996 - - - 51.9%
1995 - - - 53.7%
1994 - - - 63.5%
1993 - - - 92.4%
1992 - - - 116%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1997–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1992–1996, retrieved 2026-02-20).

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

In 2024, Mali's government spending was $6.61B, accounting for 24.7% of its GDP, while Russia spent $802B, or 36.9% of GDP.

Debt-to-GDP ratio is 51.7% in Mali and 20.3% in Russia, ranking 102/185 and 175/185, respectively.

Government deficit by year

Deficit/surplus
Mali

Russia
1x
Year Deficit/surplus, % of GDP
Mali Russia
2024 -2.57% -1.6%
2023 -3.57% -2.22%
2022 -4.75% -1.34%
2021 -4.91% 0.78%
2020 -5.42% -3.99%
2019 -1.68% 1.93%
2018 -4.74% 2.92%
2017 -2.86% -1.47%
2016 -3.95% -3.67%
2015 -1.82% -3.39%
2014 -2.89% -1.07%
2013 -2.37% -1.16%
2012 -0.96% 0.38%
2011 -3.42% 1.43%
2010 -2.57% -3.19%
2009 -3.71% -5.89%
2008 -1.97% 4.55%
2007 -2.78% 5.59%
2006 27.8% 7.8%
2005 -2.76% 7.6%
2004 -2.36% 4.57%
2003 -1.19% 1.35%
2002 -3.09% 0.67%
2001 -2.8% 2.99%
2000 -2.64% 3.11%
1999 - -3.59%
1998 - -7.42%
1997 - -
1996 - -
1995 - -
1994 - -
1993 - -
1992 - -
1991 - -
1990 - -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -
1980 - -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 - 0.15%
1939 - 0.12%
1938 - 0.16%
1937 - 0.12%
1936 - 0.1%
1935 - 0.07%
1934 - 0.25%
1933 - 0.58%
1932 - 0.06%
1931 - -1.12%
1930 - -1.62%
1929 - -0.4%
1928 - -0.4%
1927 - -
1926 - -
1925 - -
1924 - -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 - -
1912 - 0.69%
1911 - 1.26%
1910 - 1.52%
1909 - -0.15%
1908 - -0.83%
1907 - -0.86%
1906 - -3.19%
1905 - -7.72%
1904 - -5.13%
1903 - 1.04%
1902 - -1.57%
1901 - 0.14%
1900 - -0.36%
1899 - 0.66%
1898 - 0.03%
1897 - 0.34%
1896 - 1.3%
1895 - 0.7%
1894 - 1.43%
1893 - 0.63%
1892 - -1.16%
1891 - -0.97%
1890 - 0.01%
1889 - 1.34%
1888 - 0.88%
1887 - 0.14%
1886 - -0.84%
1885 - -0.75%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1998–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1885–1940, retrieved 2026-02-20).

GeoRank.org/economy/mali/russia | 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 Russia's deficit of $34.9B, or 1.6% of GDP.

Over the past 25 years, Mali recorded a fiscal deficit in 24 of those years, while Russia ran a deficit in 11 years. On average, Mali posted an annual deficit equal to 1.76% of GDP, compared to surplus of 0.67% of GDP for Russia.

Inflation comparison by year

Inflation
Mali

Russia
1x
Year Consumer prices inflation
Mali Russia
2024 3.2% 8.4%
2023 2.1% 5.9%
2022 9.7% 13.7%
2021 3.8% 6.7%
2020 0.5% 3.4%
2019 -3% 4.5%
2018 1.9% 2.9%
2017 2.4% 3.7%
2016 -1.8% 7%
2015 1.4% 15.5%
2014 0.9% 7.8%
2013 -0.6% 6.8%
2012 5.3% 5.1%
2011 3% 8.4%
2010 1.2% 6.8%
2009 2.4% 11.6%
2008 9.2% 14.1%
2007 1.4% 9%
2006 1.6% 9.7%
2005 6.4% 12.7%
2004 -3.1% 10.9%
2003 -1.3% 13.7%
2002 5% 15.8%
2001 5.2% 21.5%
2000 -0.8% 20.8%
1999 -1.2% 85.7%
1998 4.1% 27.7%
1997 -0.7% 14.8%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

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

Over the past 28 years, Mali has recorded an average annual inflation rate of 2.08%, compared with 13.4% in Russia. In 2024, inflation was 3.2% in Mali and 8.4% in Russia.

Top exports between countries

Mali
Export category Export value
Raw materials & minerals $2.32M
Raw agricultural goods $188K
Machinery & equipment $116K
Chemicals & pharma $40K
Russia
Export category Export value
Miscellaneous $57.9M
Transport & tourism services $27.7M
Raw agricultural goods $23.6M
Raw materials & minerals $2.23M
Machinery & equipment $2.22M
Business & finance services $1.83M
Metals $1.33M
Chemicals & pharma $881K
Manufacturing & construction services $233K
Processed food, beverages & tobacco $213K

Balance of trade

Mali Russia
Current account balance
-$1.61B
2023
$63.4B
2024
Current account balance ranking
136/190
2023
12/190
2024
Current account balance, % of GDP
-6.49%
2023
+2.91%
2024
Goods imports
$5.73B
2023
$302B
2024
Goods exports
$5.65B
2023
$434B
2024
Service imports
$2.34B
2023
$81.5B
2024
Service exports
$475M
2023
$43.1B
2024
Imports of goods and services, % of GDP
27.3%
2024
17.6%
2024
Exports of goods and services, % of GDP
22.6%
2024
21.9%
2024

Economic freedom indices

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

Mali Russia
Economic freedom 52.1 50.3
Economic freedom ranking 150/197 161/197
Property rights 13.8 18.6
Government integrity 23.2 22.8
Judicial effectiveness 23.3 22.8
Tax burden 67.9 81.9
Government spending 81.8 61.3
Fiscal health 73.6 94.4
Business freedom 40.8 51.4
Labor freedom 54.1 59.1
Monetary freedom 78.2 61.8
Trade freedom 64 69.4
Investment freedom 65 30
Financial freedom 40 30

Economic freedom comparison by year

Mali
Russia
1x
Year Economic freedom index
Mali Russia
2026 52.1 50.3
2025 52.6 51.6
2024 52.5 52
2023 54.5 53.8
2022 55.9 56.1
2021 55.6 61.5
2020 55.9 61
2019 58.1 58.9
2018 57.6 58.2
2017 58.6 57.1
2016 56.5 50.6
2015 56.4 52.1
2014 55.5 51.9
2013 56.4 51.1
2012 55.8 50.5
2011 56.3 50.5
2010 55.6 50.3
2009 55.6 50.8
2008 55.6 49.8
2007 54.7 52.2
2006 54.1 52.4
2005 57.3 51.3
2004 56.6 52.8
2003 58.6 50.8
2002 61.1 48.7
2001 60.1 49.8
2000 60.3 51.8
1999 58.4 54.5
1998 57.3 52.8
1997 56.4 48.6
1996 57 51.6
1995 52.4 51.1

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

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

The Economic Freedom Index for Mali is 52.1, ranking 150/197, compared to 50.3 for Russia, ranking 161/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Mali Russia
Services, % of GDP
36.3%
2024
57.5%
2024
Industry, % of GDP
23.5%
2024
30.7%
2024
Agriculture, forestry, and fishing, % of GDP
33.3%
2024
2.74%
2024
GNI, Atlas method
$25.2B
2024
$2.24T
2024
GNI per capita, PPP
$3,230
2024
$46,780
2024
Total reserves including gold n/a
$597B
2023
Total reserves ranking n/a
6/177
2023
Net foreign direct investment
-$673M
2023
$9.37B
2024
Net inflows of foreign direct investment
$921M
2024
-$9.35B
2024
Net outflows of foreign direct investment
$78.1M
2024
-$170M
2024
Servicing debt to the IMF, % of GNI
1.41%
2024
2.65%
2024
Poverty at national poverty lines
43.3%
2024
12.1%
2020
Gross capital formation, % of GDP
19.5%
2024
26.3%
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/russia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1967–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1997–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1885–1996, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2021–2022, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.