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Economy of Mali vs Senegal compared: GDP & Debt

Updated on by Georank team

Mali has a GDP of $26.8B compared to $32.8B for Senegal, ranking 113/197 and 109/197 by economy size, respectively.

Mali has $13.9B in government debt (51.7% of GDP), compared to $42.1B (128.4% of GDP) in Senegal.

Mali vs Senegal GDP by year

Mali
Senegal
1x
Year GDP, current $
Mali Senegal
2024 $26,794,747,240 $32,808,056,601
2023 $24,813,860,599 $30,696,331,296
2022 $22,539,987,719 $27,783,332,223
2021 $22,999,245,263 $27,520,784,130
2020 $20,698,560,939 $24,530,513,038
2019 $20,477,421,885 $23,403,995,992
2018 $20,368,015,381 $23,116,701,556
2017 $18,308,362,040 $20,996,562,944
2016 $16,743,796,800 $19,040,312,333
2015 $15,583,181,170 $17,774,766,696
2014 $17,081,681,993 $19,797,253,440
2013 $15,747,192,681 $18,918,667,725
2012 $14,795,114,603 $17,660,870,412
2011 $15,452,791,789 $17,814,283,639
2010 $12,710,739,159 $16,121,315,909
2009 $12,155,217,833 $16,145,867,495
2008 $11,462,490,840 $16,853,989,628
2007 $9,699,047,443 $13,994,218,413
2006 $8,212,007,554 $11,697,918,243
2005 $7,429,066,951 $11,009,033,438
2004 $6,485,774,930 $10,076,816,667
2003 $5,605,613,011 $8,768,721,563
2002 $4,647,238,257 $7,006,402,320
2001 $4,124,281,594 $6,507,824,829
2000 $3,521,570,876 $6,013,185,004
1999 $4,091,446,054 $6,592,834,933
1998 $3,894,433,432 $6,505,607,909
1997 $3,414,879,486 $6,041,478,726
1996 $3,743,103,420 $6,559,712,166
1995 $3,373,322,735 $6,326,342,633
1994 $2,655,768,636 $5,034,588,196
1993 $3,632,801,877 $7,367,986,241
1992 $3,680,775,037 $7,769,817,840
1991 $3,576,562,682 $7,255,210,470
1990 $3,248,417,791 $7,390,967,360
1989 $2,824,822,489 $6,366,039,373
1988 $2,712,207,901 $6,418,419,389
1987 $2,437,004,680 $6,487,353,103
1986 $2,132,938,007 $5,392,093,446
1985 $1,594,347,021 $3,818,944,918
1984 $1,387,809,615 $3,485,165,432
1983 $1,496,616,127 $3,569,356,125
1982 $1,680,304,773 $4,013,951,443
1981 $2,234,583,940 $4,095,892,781
1980 $2,704,362,789 $4,510,108,291
1979 $1,595,422,956 $4,084,877,823
1978 $1,222,702,573 $3,280,354,921
1977 $1,049,838,548 $2,938,046,463
1976 $939,228,017 $2,869,777,884
1975 $830,710,615 $2,830,388,405
1974 $538,747,340 $2,099,325,229
1973 $563,683,703 $1,863,398,590
1972 $486,617,280 $1,620,857,104
1971 $395,218,629 $1,339,549,033
1970 $359,772,315 $1,297,407,655
1969 $339,913,867 $1,245,234,931
1968 $343,771,973 $1,309,384,862
1967 $275,494,478 $1,246,480,766
1966 - $1,246,908,186
1965 - $1,210,058,228
1964 - $1,188,930,645
1963 - $1,122,139,862
1962 - $1,085,475,791
1961 - $1,058,975,257
1960 - $1,003,692,370

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

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

GDP per capita in Mali vs Senegal by year

Mali
GDP per capita

GDP per capita, PPP
Senegal
GDP per capita

GDP per capita, PPP
1x
Year Current $
Mali Senegal
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,095 $3,315 $1,773 $5,071
2023 $1,044 $3,175 $1,698 $4,778
2022 $977 $3,014 $1,574 $4,530
2021 $1,027 $2,796 $1,598 $4,174
2020 $953 $2,724 $1,461 $3,753
2019 $972 $2,820 $1,431 $3,648
2018 $996 $2,684 $1,453 $3,380
2017 $924 $2,607 $1,357 $3,234
2016 $872 $2,532 $1,266 $3,101
2015 $838 $2,330 $1,218 $2,994
2014 $948 $2,185 $1,399 $2,854
2013 $902 $2,059 $1,380 $2,769
2012 $873 $1,990 $1,327 $2,764
2011 $938 $2,046 $1,375 $2,685
2010 $797 $2,012 $1,276 $2,663
2009 $787 $1,945 $1,309 $2,606
2008 $767 $1,893 $1,399 $2,581
2007 $671 $1,852 $1,189 $2,499
2006 $587 $1,832 $1,017 $2,422
2005 $549 $1,771 $980 $2,350
2004 $495 $1,730 $918 $2,236
2003 $442 $1,715 $818 $2,131
2002 $378 $1,581 $669 $2,027
2001 $346 $1,559 $637 $2,044
2000 $305 $1,357 $603 $1,963
1999 $364 $1,376 $678 $1,893
1998 $357 $1,332 $685 $1,798
1997 $321 $1,267 $651 $1,719
1996 $360 $1,224 $723 $1,679
1995 $331 $1,154 $715 $1,656
1994 $266.5 $1,147 $584 $1,578
1993 $372 $1,087 $878 $1,588
1992 $385 $1,039 $951 $1,573
1991 $382 $1,091 $913 $1,561
1990 $354 $956 $957 $1,513
1989 $314 - $849 -
1988 $307 - $880 -
1987 $280.7 - $916 -
1986 $250 - $784 -
1985 $190.4 - $571 -
1984 $169.1 - $536 -
1983 $186.3 - $564 -
1982 $213.8 - $652 -
1981 $290.5 - $683 -
1980 $359 - $772 -
1979 $216.3 - $716 -
1978 $169.1 - $589 -
1977 $148.1 - $540 -
1976 $134.9 - $541 -
1975 $121.5 - $547 -
1974 $80.2 - $417 -
1973 $85.4 - $381 -
1972 $75.1 - $342 -
1971 $62 - $291.1 -
1970 $57.3 - $290.5 -
1969 $55 - $287.3 -
1968 $56.5 - $311 -
1967 $46 - $305 -
1966 - - $315 -
1965 - - $314 -
1964 - - $318 -
1963 - - $309 -
1962 - - $307 -
1961 - - $308 -
1960 - - $300 -

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

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

Mali's GDP per capita is $1,095, ranking 173/197, compared to $1,773 in Senegal, ranking 159/197. Adjusted for purchasing power (GDP per capita PPP), Mali ranks 174th at $3,315, while Senegal ranks 158th at $5,071.

Economic indicators

Mali Senegal
Gross domestic product
$26.8B
2024
$32.8B
2024
GDP rank
113/197
2024
109/197
2024
GDP growth
4.99%
2023-2024
6.06%
2023-2024
GDP per capita
$1,095
2024
$1,773
2024
GDP per capita rank
173/197
2024
159/197
2024
GDP per capita, PPP
$3,315
2024
$5,071
2024
GDP per capita PPP rank
174/197
2024
158/197
2024
Government debt
$13.9B
2024
$42.1B
2024
Debt-to-GDP ratio
51.7%
2024
128.4%
2024
Government debt per person
$566
2024
$2,277
2024
Government debt per person rank
161/185
2024
115/185
2024
Average annual personal income after taxes
$1,463
2026
$2,194
2026
Income share by richest 10%
28.3%
2021
28.8%
2021
Income share by poorest 10%
3.2%
2021
3%
2021
Government expenditure, % of GDP
24.7%
2024
33.5%
2024
Consumer prices inflation
3.2%
2023-2024
0.8%
2023-2024
Unemployment rate
5.45%
2023
5.78%
2024
Population
26143152
19491599

Spending and national debt comparison by year

Mali
Spending

Debt
Senegal
Spending

Debt
1x
Year % of GDP
Mali Senegal
Government spending Government debt Government spending Government debt
2024 24.7% 51.7% 33.5% 128.4%
2023 24.8% 51.9% 35.5% 118.4%
2022 24.4% 50.3% 36.2% 105%
2021 26.9% 51.6% 33.6% 98.6%
2020 26.1% 47.3% 29.6% 90.2%
2019 23.1% 40.7% 34.3% 81.5%
2018 20.3% 37.5% 22.6% 61.5%
2017 22.9% 38.2% 22.5% 61.1%
2016 22.3% 37.2% 24% 47.5%
2015 20.9% 30.7% 22.9% 44.5%
2014 20% 26.9% 23.1% 42.4%
2013 19.8% 26.4% 22.1% 36.9%
2012 15.5% 25.4% 23% 34.5%
2011 20.6% 24% 23.3% 32.9%
2010 20.3% 25.3% 21.7% 34.6%
2009 22.8% 21.9% 21.1% 29.9%
2008 18.8% 20.1% 20.9% 19.1%
2007 21.5% 18.5% 22.2% 19%
2006 22.1% 18.1% 21.3% 17.5%
2005 21.6% 46.6% 18.7% 36.1%
2004 21.8% 42.4% 18.1% 38%
2003 20.8% 44.1% 17.1% 42.9%
2002 19.9% 42.6% 15.5% 52%
2001 18.3% 77.5% 15.7% 53.2%
2000 19.4% 90.5% 14% 57.5%
1999 - - 14.6% 15%
1998 - - 13.5% 18.8%
1997 - - 14.1% 67.8%
1996 - - 15.4% 0.07%
1995 - - 14.4% 65.3%
1994 - - 15.9% 77.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1994–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1994–1995, retrieved 2026-02-20).

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

In 2024, Mali's government spending was $6.61B, accounting for 24.7% of its GDP, while Senegal spent $11B, or 33.5% of GDP.

Debt-to-GDP ratio is 51.7% in Mali and 128.4% in Senegal, ranking 102/185 and 11/185, respectively.

Government deficit by year

Deficit/surplus
Mali

Senegal
1x
Year Deficit/surplus, % of GDP
Mali Senegal
2024 -2.57% -13.4%
2023 -3.57% -14.8%
2022 -4.75% -16.1%
2021 -4.91% -13.7%
2020 -5.42% -9.64%
2019 -1.68% -13.9%
2018 -4.74% -3.66%
2017 -2.86% -2.97%
2016 -3.95% -3.27%
2015 -1.82% -3.66%
2014 -2.89% -3.9%
2013 -2.37% -4.34%
2012 -0.96% -4.18%
2011 -3.42% -4.92%
2010 -2.57% -3.94%
2009 -3.71% -3.66%
2008 -1.97% -3.53%
2007 -2.78% -2.8%
2006 27.8% -3.67%
2005 -2.76% -0.26%
2004 -2.36% 0.18%
2003 -1.19% -0.52%
2002 -3.09% 0.19%
2001 -2.8% -1.44%
2000 -2.64% 0.78%
1999 - -0.62%
1998 - 0.93%
1997 - 0.98%
1996 - 0.92%
1995 - 2.41%
1994 - 5.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1994–2024, retrieved 2026-02-20).

GeoRank.org/economy/mali/senegal | 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 Senegal's deficit of $4.4B, or 13.4% of GDP.

Over the past 25 years, Mali recorded a fiscal deficit in 24 of those years, while Senegal ran a deficit in 22 years. On average, Mali posted an annual deficit equal to 1.76% of GDP, compared to deficit of 5.24% of GDP for Senegal.

Inflation comparison by year

Inflation
Mali

Senegal
1x
Year Consumer prices inflation
Mali Senegal
2024 3.2% 0.8%
2023 2.1% 5.94%
2022 9.7% 9.7%
2021 3.8% 2.18%
2020 0.5% 2.54%
2019 -3% 1.76%
2018 1.9% 0.46%
2017 2.4% 1.32%
2016 -1.8% 0.84%
2015 1.4% 0.14%
2014 0.9% -1.09%
2013 -0.6% 0.71%
2012 5.3% 1.42%
2011 3% 3.4%
2010 1.2% 1.23%
2009 2.4% -2.25%
2008 9.2% 7.35%
2007 1.4% 5.85%
2006 1.6% 2.11%
2005 6.4% 1.71%
2004 -3.1% 0.51%
2003 -1.3% -0.05%
2002 5% 2.34%
2001 5.2% 2.97%
2000 -0.8% 0.73%
1999 -1.2% 0.83%
1998 4.1% 1.16%
1997 -0.7% 1.75%

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/senegal | CC BY

Over the past 28 years, Mali has recorded an average annual inflation rate of 2.08%, compared with 2.01% in Senegal. In 2024, inflation was 3.2% in Mali and 0.8% in Senegal.

Top exports between countries

Mali
Export category Export value
Animal & marine products $77.5M
Raw agricultural goods $18M
Machinery & equipment $6.71M
Chemicals & pharma $2.14M
Processed food, beverages & tobacco $1.82M
Raw materials & minerals $1.3M
Wood & paper products $860K
Metals $789K
Textiles & consumer goods $435K
Precious metals & jewellery $344K
Senegal
Export category Export value
Raw materials & minerals $970M
Processed food, beverages & tobacco $153M
Metals $54.4M
Raw agricultural goods $40.9M
Chemicals & pharma $30.4M
Textiles & consumer goods $20.3M
Machinery & equipment $16.7M
Animal & marine products $16.1M
Wood & paper products $7.62M
Miscellaneous $2.51M

Balance of trade

Mali Senegal
Current account balance
-$1.61B
2023
-$6.07B
2023
Current account balance ranking
136/190
2023
170/190
2023
Current account balance, % of GDP
-6.49%
2023
-19.8%
2023
Goods imports
$5.73B
2023
$10.8B
2023
Goods exports
$5.65B
2023
$5.52B
2023
Service imports
$2.34B
2023
$4.08B
2023
Service exports
$475M
2023
$1.48B
2023
Imports of goods and services, % of GDP
27.3%
2024
43.4%
2024
Exports of goods and services, % of GDP
22.6%
2024
24.7%
2024

Economic freedom indices

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

Mali Senegal
Economic freedom 52.1 53.2
Economic freedom ranking 150/197 140/197
Property rights 13.8 57.4
Government integrity 23.2 47.3
Judicial effectiveness 23.3 50.5
Tax burden 67.9 68.8
Government spending 81.8 63.1
Fiscal health 73.6 0
Business freedom 40.8 55.2
Labor freedom 54.1 54.4
Monetary freedom 78.2 74.3
Trade freedom 64 67
Investment freedom 65 60
Financial freedom 40 40

Economic freedom comparison by year

Mali
Senegal
1x
Year Economic freedom index
Mali Senegal
2026 52.1 53.2
2025 52.6 56.4
2024 52.5 55.4
2023 54.5 57.7
2022 55.9 60
2021 55.6 58
2020 55.9 58
2019 58.1 56.3
2018 57.6 55.7
2017 58.6 55.9
2016 56.5 58.1
2015 56.4 57.8
2014 55.5 55.4
2013 56.4 55.5
2012 55.8 55.4
2011 56.3 55.7
2010 55.6 54.6
2009 55.6 56.3
2008 55.6 58.3
2007 54.7 58.1
2006 54.1 56.2
2005 57.3 57.9
2004 56.6 58.9
2003 58.6 58.1
2002 61.1 58.6
2001 60.1 58.7
2000 60.3 58.9
1999 58.4 60.6
1998 57.3 59.7
1997 56.4 58.1
1996 57 58.2
1995 52.4 -

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

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

The Economic Freedom Index for Mali is 52.1, ranking 150/197, compared to 53.2 for Senegal, ranking 140/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Mali Senegal
Services, % of GDP
36.3%
2024
48.4%
2024
Industry, % of GDP
23.5%
2024
25%
2024
Agriculture, forestry, and fishing, % of GDP
33.3%
2024
16.6%
2024
GNI, Atlas method
$25.2B
2024
$31.1B
2024
GNI per capita, PPP
$3,230
2024
$4,920
2024
Net foreign direct investment
-$673M
2023
-$4.72B
2023
Net inflows of foreign direct investment
$921M
2024
$2.02B
2024
Net outflows of foreign direct investment
$78.1M
2024
$48.1M
2024
Servicing debt to the IMF, % of GNI
1.41%
2024
10.8%
2024
Poverty at national poverty lines
43.3%
2024
37.5%
2021
Gross capital formation, % of GDP
19.5%
2024
37.5%
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/mali/senegal | 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 (1994–2024, 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 (2023–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1994–1995, retrieved 2026-02-20)
  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.