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Economy of Malta vs Paraguay compared: GDP & Debt

Updated on by Georank team

Malta has a GDP of $25B compared to $44.5B for Paraguay, ranking 119/197 and 98/197 by economy size, respectively.

Malta has $11.5B in government debt (46.2% of GDP), compared to $19.9B (44.8% of GDP) in Paraguay.

Malta vs Paraguay GDP by year

Malta
Paraguay
1x
Year GDP, current $
Malta Paraguay
2024 $24,971,574,502 $44,458,118,397
2023 $22,610,561,526 $43,118,053,175
2022 $18,928,276,162 $41,952,910,858
2021 $19,739,875,611 $39,950,899,939
2020 $16,404,663,226 $35,432,178,068
2019 $16,337,793,531 $37,925,338,329
2018 $16,153,779,511 $40,225,448,341
2017 $14,161,366,724 $38,997,129,474
2016 $12,025,782,834 $36,089,700,223
2015 $11,340,795,042 $36,211,447,840
2014 $11,888,032,874 $40,377,929,296
2013 $10,796,782,636 $38,501,122,141
2012 $9,609,532,089 $33,271,921,136
2011 $9,789,361,703 $33,756,238,766
2010 $9,097,044,159 $27,260,886,405
2009 $8,734,745,698 $22,355,151,162
2008 $9,135,419,465 $24,615,267,664
2007 $7,908,412,306 $17,856,393,235
2006 $6,749,838,806 $13,429,430,050
2005 $6,393,234,993 $10,737,500,188
2004 $6,104,141,520 $9,624,440,836
2003 $5,418,315,224 $7,691,367,471
2002 $4,455,127,414 $7,196,260,657
2001 $4,070,867,133 $8,495,806,432
2000 $4,036,809,815 $8,855,705,140
1999 $4,111,857,809 $8,837,070,236
1998 $4,010,111,688 $9,260,481,572
1997 $3,787,023,707 $9,965,225,678
1996 $3,822,547,197 $9,788,391,781
1995 $3,709,396,045 $9,062,131,475
1994 $2,998,505,428 $7,870,982,005
1993 $2,709,193,538 $7,249,533,620
1992 $3,021,942,759 $7,157,424,031
1991 $2,750,216,747 $6,984,367,763
1990 $2,547,328,748 $5,812,114,523
1989 $2,118,655,677 $4,757,732,200
1988 $2,019,503,068 $4,255,683,528
1987 $1,751,293,461 $3,971,044,724
1986 $1,435,038,441 $3,723,993,943
1985 $1,117,797,439 $3,282,449,236
1984 $1,101,807,023 $4,502,462,807
1983 $1,165,729,707 $5,673,248,726
1982 $1,234,474,404 $5,419,411,765
1981 $1,243,509,394 $5,624,515,873
1980 $1,250,198,601 $4,448,087,302
1979 $1,001,288,847 $3,416,777,778
1978 $793,673,402 $2,559,857,143
1977 $625,563,171 $2,092,158,730
1976 $527,936,989 $1,698,960,317
1975 $474,618,321 $1,511,420,635
1974 $376,081,124 $1,333,475,397
1973 $345,616,106 $995,531,746
1972 $295,106,628 $769,039,683
1971 $264,578,485 $664,571,429
1970 $250,728,796 $594,611,111
1969 - $556,293,651
1968 - $517,650,794
1967 - $492,674,603
1966 - $465,888,889
1965 - $443,587,302
1964 - $408,349,206
1963 - $383,904,762
1962 - $360,698,413
1961 - $322,053,713
1960 - $288,884,368

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

GeoRank.org/economy/malta/paraguay | CC BY

GDP per capita in Malta vs Paraguay by year

Malta
GDP per capita

GDP per capita, PPP
Paraguay
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malta Paraguay
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $43,899 $69,864 $6,416 $18,524
2023 $40,906 $67,057 $6,300 $17,564
2022 $35,639 $60,589 $6,206 $16,347
2021 $38,097 $56,852 $5,977 $15,406
2020 $31,823 $49,972 $5,365 $14,309
2019 $32,422 $51,393 $5,821 $14,150
2018 $33,382 $48,178 $6,258 $14,139
2017 $30,317 $45,764 $6,152 $13,977
2016 $26,459 $41,000 $5,775 $13,329
2015 $25,530 $38,369 $5,879 $12,679
2014 $27,425 $35,206 $6,652 $12,607
2013 $25,416 $33,138 $6,436 $12,137
2012 $22,878 $30,716 $5,642 $10,954
2011 $23,517 $29,426 $5,805 $11,442
2010 $21,947 $28,909 $4,751 $10,893
2009 $21,176 $26,782 $3,942 $9,802
2008 $22,315 $26,654 $4,385 $9,867
2007 $19,444 $25,012 $3,212 $9,179
2006 $16,654 $23,219 $2,439 $8,561
2005 $15,831 $22,227 $1,971 $8,007
2004 $15,212 $21,566 $1,786 $7,686
2003 $13,594 $20,813 $1,444 $7,276
2002 $11,251 $19,532 $1,368 $6,924
2001 $10,358 $18,435 $1,638 $6,916
2000 $10,348 $18,214 $1,736 $6,937
1999 $10,609 $16,898 $1,766 $7,080
1998 $10,408 $16,219 $1,890 $7,227
1997 $9,893 $15,465 $2,079 $7,299
1996 $10,062 $14,661 $2,088 $7,040
1995 $9,828 $13,950 $1,979 $6,966
1994 $8,000 $12,938 $1,760 $6,542
1993 $7,296 $12,103 $1,662 $6,234
1992 $8,220 $11,429 $1,683 $5,952
1991 $7,559 $10,784 $1,685 $5,873
1990 $7,192 $10,086 $1,440 $5,637
1989 $6,041 - $1,211 -
1988 $5,814 - $1,114 -
1987 $5,084 - $1,069 -
1986 $4,195 - $1,031 -
1985 $3,322 - $935 -
1984 $3,333 - $1,319 -
1983 $3,527 - $1,710 -
1982 $3,788 - $1,680 -
1981 $3,898 - $1,793 -
1980 $3,948 - $1,457 -
1979 $3,196 - $1,149 -
1978 $2,559 - $883 -
1977 $2,038 - $740 -
1976 $1,727 - $616 -
1975 $1,560 - $562 -
1974 $1,245 - $508 -
1973 $1,144 - $389 -
1972 $976 - $308 -
1971 $874 - $272.1 -
1970 $828 - $249 -
1969 - - $238.2 -
1968 - - $226.8 -
1967 - - $220.9 -
1966 - - $213.9 -
1965 - - $208.7 -
1964 - - $197 -
1963 - - $189.9 -
1962 - - $182.8 -
1961 - - $167.1 -
1960 - - $153.4 -

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

GeoRank.org/economy/malta/paraguay | CC BY

Malta's GDP per capita is $43,899, ranking 28/197, compared to $6,416 in Paraguay, ranking 109/197. Adjusted for purchasing power (GDP per capita PPP), Malta ranks 25th at $69,864, while Paraguay ranks 102nd at $18,524.

Economic indicators

Malta Paraguay
Gross domestic product
$25B
2024
$44.5B
2024
GDP rank
119/197
2024
98/197
2024
GDP growth
6.8%
2023-2024
4.25%
2023-2024
GDP per capita
$43,899
2024
$6,416
2024
GDP per capita rank
28/197
2024
109/197
2024
GDP per capita, PPP
$69,864
2024
$18,524
2024
GDP per capita PPP rank
25/197
2024
102/197
2024
Government debt
$11.5B
2024
$19.9B
2024
Debt-to-GDP ratio
46.2%
2024
44.8%
2024
Government debt per person
$20,269
2024
$2,872
2024
Government debt per person rank
31/185
2024
103/185
2024
Average annual personal income after taxes
$23,692
2026
$6,136
2026
Market capitalization of domestic companies
$4.29B
2024
$313M
1999
Income share by richest 10%
27.7%
2022
35%
2024
Income share by poorest 10%
2.7%
2022
2%
2024
Government expenditure, % of GDP
37.3%
2024
21%
2024
Consumer prices inflation
1.65%
2023-2024
3.84%
2023-2024
Central bank interest rate n/a
6%
2024
Unemployment rate
3.12%
2024
5.69%
2024
Population
581729
7120169

Spending and national debt comparison by year

Malta
Spending

Debt
Paraguay
Spending

Debt
1x
Year % of GDP
Malta Paraguay
Government spending Government debt Government spending Government debt
2024 37.3% 46.2% 21% 44.8%
2023 36.1% 46.8% 21.5% 41.1%
2022 38.3% 50.1% 20.2% 40.5%
2021 39.4% 49.6% 20.4% 37.5%
2020 42.1% 48.6% 22.6% 36.9%
2019 34.9% 39.2% 20.1% 25.8%
2018 34.5% 41.4% 18.5% 22.3%
2017 32.7% 45.6% 18.1% 19.8%
2016 35.5% 53.1% 17.7% 19.4%
2015 37.8% 55% 18% 18.6%
2014 39.6% 60.7% 17.1% 15.6%
2013 40.1% 64.9% 17.1% 13.5%
2012 41.7% 65.6% 17.6% 12.3%
2011 41.5% 68.9% 14.7% 11.1%
2010 40.1% 65% 13.3% 13%
2009 41.1% 66% 14.3% 14.9%
2008 42.1% 61.5% 11.8% 16%
2007 41.2% 62% 13.1% 16.8%
2006 42.5% 64.5% 14.1% 21%
2005 42.5% 70.2% 14% 28.3%
2004 42% 70.4% 14% 36%
2003 45.6% 68.6% 14.6% 37.5%
2002 43.6% 65.1% 17.6% 50.5%
2001 44.4% 70% 19% 37.1%
2000 42.9% 64.4% 19.6% 33.6%
1999 - 69.8% 19.2% 32%
1998 - 66.4% 18% 22.1%
1997 - 60.8% 18.1% 18%
1996 - 51.5% 16.9% 16.8%
1995 - 45.3% 15.7% 17.6%
1994 - - 14.5% 18.7%
1993 - - 12.9% 26.6%
1992 - - 13% 34.4%
1991 - - 11.4% 49.4%
1990 - - 10.5% 67%
1989 - - 11.8% 52.9%
1988 - - 9.75% 58.9%
1987 - - 10.1% 68.7%
1986 - - 9.25% 57.1%
1985 - - 11.4% 54.7%
1984 - - 13% 31%
1983 - - 13% 22.6%
1982 - - 13.2% 21.3%
1981 - - 13.3% 17.4%
1980 - - 11.6% 17.4%
1979 - - 11.7% 19.7%
1978 - - 11.9% 20.9%
1977 - - 11.2% 18.8%
1976 - - 9.8% 14.1%
1975 - - 10.5% 12.6%
1974 - - 9.44% 12.5%
1973 - - 11.2% 15.4%
1972 - - 12.5% 18.2%
1971 - - 12.3% 18.9%
1970 - - 13.3% 19.2%
1969 - - 14% -
1968 - - 13.5% -
1967 - - 12.2% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-02-20).

GeoRank.org/economy/malta/paraguay | CC BY

In 2024, Malta's government spending was $9.32B, accounting for 37.3% of its GDP, while Paraguay spent $9.33B, or 21% of GDP.

Debt-to-GDP ratio is 46.2% in Malta and 44.8% in Paraguay, ranking 118/185 and 120/185, respectively.

Government deficit by year

Deficit/surplus
Malta

Paraguay
1x
Year Deficit/surplus, % of GDP
Malta Paraguay
2024 -3.58% -2.12%
2023 -4.65% -3.81%
2022 -5.31% -2.64%
2021 -6.95% -3.39%
2020 -8.72% -5.72%
2019 0.72% -2.44%
2018 1.86% -1.01%
2017 3.4% -0.44%
2016 1.1% -0.37%
2015 -0.84% -0.44%
2014 -1.49% -0.27%
2013 -2.19% -1.16%
2012 -3.31% -0.58%
2011 -2.99% 1.29%
2010 -2.22% 1.54%
2009 -3.11% 0.59%
2008 -4.06% 2.29%
2007 -2.05% 1.27%
2006 -2.46% 0.91%
2005 -2.83% 0.74%
2004 -4.28% 1.33%
2003 -9.04% -0.07%
2002 -5.62% -1.89%
2001 -6.5% 0.07%
2000 -5.83% -0.55%
1999 - 2.67%
1998 - 4.28%
1997 - 3%
1996 - 2.43%
1995 - 2.78%
1994 - 4.59%
1993 - 4.27%
1992 - 3.1%
1991 - 3.41%
1990 - 7.56%
1989 - 5.48%
1988 - 3.01%
1987 - 2.68%
1986 - 3.08%
1985 - 0.85%
1984 - -0.42%
1983 - 0.27%
1982 - 1.52%
1981 - 0.15%
1980 - 3.4%
1979 - 4.13%
1978 - -3.42%
1977 - -0.19%
1976 - -0.06%
1975 - -1.24%
1974 - 1.67%
1973 - -0.91%
1972 - -2.51%
1971 - -1.25%
1970 - -1.26%
1969 - -1.62%
1968 - -2.34%
1967 - -1.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-02-20).

GeoRank.org/economy/malta/paraguay | CC BY

In 2024, Malta's government deficit, the difference between spending and revenue, was $893M, equivalent to 3.58% of GDP. This compares to Paraguay's deficit of $942M, or 2.12% of GDP.

Over the past 25 years, Malta recorded a fiscal deficit in 21 of those years, while Paraguay ran a deficit in 16 years. On average, Malta posted an annual deficit equal to 3.24% of GDP, compared to deficit of 0.67% of GDP for Paraguay.

Inflation comparison by year

Inflation
Malta

Paraguay
1x
Year Consumer prices inflation
Malta Paraguay
2024 1.65% 3.84%
2023 5.09% 4.63%
2022 6.15% 9.77%
2021 1.5% 4.79%
2020 0.64% 1.77%
2019 1.64% 2.76%
2018 1.16% 3.98%
2017 1.36% 3.6%
2016 0.64% 4.09%
2015 1.1% 3.13%
2014 0.31% 5.03%
2013 1.18% 2.68%
2012 2.38% 3.68%
2011 2.96% 8.25%
2010 1.52% 4.65%
2009 2.08% 2.59%
2008 4.26% 10.2%
2007 1.25% 8.13%
2006 2.77% 9.59%
2005 3.01% 6.81%
2004 2.79% 4.32%
2003 1.3% 14.2%
2002 2.19% 10.5%
2001 2.93% 7.27%
2000 2.37% 8.98%
1999 2.13% 6.75%
1998 2.39% 11.6%
1997 3.11% 6.95%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/malta/paraguay | CC BY

Over the past 28 years, Malta has recorded an average annual inflation rate of 2.21%, compared with 6.23% in Paraguay. In 2024, inflation was 1.65% in Malta and 3.84% in Paraguay.

Top exports between countries

Malta
Export category Export value
Chemicals & pharma $1.2M
Machinery & equipment $1K
Wood & paper products $1K
Paraguay
Export category Export value
Wood & paper products $35K

Balance of trade

Malta Paraguay
Current account balance
$1.78B
2024
-$1.53B
2024
Current account balance ranking
47/190
2024
133/190
2024
Current account balance, % of GDP
+7.12%
2024
-3.44%
2024
Goods imports
$7.56B
2024
$15.8B
2024
Goods exports
$4.58B
2024
$14.9B
2024
Service imports
$17.4B
2024
$2.54B
2024
Service exports
$25B
2024
$2.65B
2024
Imports of goods and services, % of GDP
99.7%
2024
39.6%
2024
Exports of goods and services, % of GDP
118.5%
2024
37.2%
2024

Economic freedom indices

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

Malta Paraguay
Economic freedom 68.2 66.4
Economic freedom ranking 49/197 61/197
Property rights 85.5 44.2
Government integrity 54.3 27.3
Judicial effectiveness 80.2 38.4
Tax burden 68.5 95.9
Government spending 58.4 86.9
Fiscal health 63.2 83
Business freedom 83.2 72
Labor freedom 62.6 44.1
Monetary freedom 73.1 76.5
Trade freedom 79.4 78.4
Investment freedom 60 80
Financial freedom 50 70

Economic freedom comparison by year

Malta
Paraguay
1x
Year Economic freedom index
Malta Paraguay
2026 68.2 66.4
2025 66.8 65.2
2024 64.5 60.1
2023 67.5 61
2022 71.5 62.9
2021 70.2 62.6
2020 69.5 63
2019 68.6 61.8
2018 68.5 62.1
2017 67.7 62.4
2016 66.7 61.5
2015 66.5 61.1
2014 66.4 62
2013 67.5 61.1
2012 67 61.8
2011 65.7 62.3
2010 67.2 61.3
2009 66.1 61
2008 66 60
2007 66.1 58.3
2006 67.3 55.6
2005 68.9 53.4
2004 63.3 56.7
2003 61.1 58.2
2002 62.2 59.6
2001 62.9 60.3
2000 58.3 64
1999 59.3 63.7
1998 61.2 65.2
1997 57.9 67.3
1996 55.8 67.1
1995 56.3 65.9

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

GeoRank.org/economy/malta/paraguay | CC BY

The Economic Freedom Index for Malta is 68.2, ranking 49/197, compared to 66.4 for Paraguay, ranking 61/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malta Paraguay
Services, % of GDP
81.8%
2024
48.7%
2024
Industry, % of GDP
10.7%
2024
32.5%
2024
Agriculture, forestry, and fishing, % of GDP
0.23%
2024
10.7%
2024
GNI, Atlas method
$20.9B
2024
$43.7B
2024
GNI per capita, PPP
$61,340
2024
$17,930
2024
Total reserves including gold
$1.42B
2024
$9.89B
2023
Total reserves ranking
137/177
2024
76/177
2023
Net foreign direct investment
-$6.13B
2024
-$335M
2024
Net inflows of foreign direct investment
$42.6B
2024
$1.1B
2024
Net outflows of foreign direct investment
$36.5B
2024
$166M
2024
Servicing debt to the IMF, % of GNI n/a
4.58%
2024
Poverty at national poverty lines
16.7%
2021
20.1%
2024
Gross capital formation, % of GDP
19%
2024
22.8%
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/malta/paraguay | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2021–2024, 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.