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Economy of Mongolia vs Seychelles compared: GDP & Debt

Updated on by Georank

Mongolia has a GDP of $25.4B compared to $2.39B for the Seychelles, ranking 123/197 and 177/197 by economy size, respectively.

Mongolia has $11.4B in government debt (45.1% of GDP), compared to $1.23B (51.5% of GDP) in the Seychelles.

Mongolia vs Seychelles GDP by year

Mongolia
Seychelles
1x
Year GDP, current $
Mongolia Seychelles
2025 $25,369,107,325 $2,387,022,853
2024 $23,794,540,025 $2,228,608,684
2023 $20,325,121,394 $2,171,547,935
2022 $17,146,471,714 $1,999,888,599
2021 $15,286,441,738 $1,487,173,795
2020 $13,312,981,429 $1,382,551,752
2019 $14,206,359,018 $1,868,690,097
2018 $13,178,094,720 $1,784,313,927
2017 $11,480,847,741 $1,675,370,641
2016 $11,181,350,649 $1,568,513,348
2015 $11,619,892,591 $1,432,403,352
2014 $12,226,514,668 $1,387,577,870
2013 $12,582,122,604 $1,333,160,407
2012 $12,292,770,632 $1,089,407,839
2011 $10,409,797,378 $1,058,918,707
2010 $7,189,481,999 $981,616,542
2009 $4,583,850,368 $850,901,620
2008 $5,623,216,608 $979,597,394
2007 $4,234,999,704 $1,077,308,814
2006 $3,414,055,662 $1,081,441,283
2005 $2,523,471,601 $977,899,382
2004 $1,992,066,808 $893,012,218
2003 $1,595,297,356 $750,847,230
2002 $1,396,555,720 $742,134,838
2001 $1,267,997,934 $662,064,156
2000 $1,136,896,124 $654,212,394
1999 $1,057,408,589 $662,838,615
1998 $1,124,440,205 $647,287,376
1997 $1,180,934,203 $598,966,982
1996 $1,345,719,472 $535,250,347
1995 $1,452,165,005 $540,733,048
1994 $925,817,092 $517,570,058
1993 $768,401,634 $504,230,621
1992 $1,317,611,864 $461,409,399
1991 $2,379,018,326 $398,307,170
1990 $2,560,785,660 $392,163,561
1989 $3,576,966,800 $324,333,367
1988 $3,204,461,567 $301,985,618
1987 $3,020,611,600 $265,212,957
1986 $2,896,178,867 $221,147,061
1985 $2,186,505,475 $179,691,483
1984 $2,098,734,600 $160,992,921
1983 $2,725,736,633 $156,098,237
1982 $2,552,401,933 $157,211,790
1981 $2,310,099,100 $163,750,728
1980 $2,101,394,100 $156,783,830
1979 - $127,261,099
1978 - $85,552,366
1977 - $64,526,401
1976 - $49,278,982
1975 - $47,803,146
1974 - $43,134,496
1973 - $36,896,280
1972 - $30,645,123
1971 - $21,965,951
1970 - $18,432,032
1969 - $16,452,028
1968 - $16,074,028
1967 - $16,632,032
1966 - $16,443,034
1965 - $15,603,032
1964 - $15,393,032
1963 - $13,923,029
1962 - $12,642,026
1961 - $11,592,024
1960 - $12,012,025

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/mongolia/seychelles | CC BY

GDP per capita in Mongolia vs Seychelles by year

Mongolia
GDP per capita

GDP per capita, PPP
Seychelles
GDP per capita

GDP per capita, PPP
1x
Year Current $
Mongolia Seychelles
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $7,108 - $19,449 -
2024 $6,751 $19,145 $18,365 $33,239
2023 $5,839 $18,005 $18,131 $31,781
2022 $4,994 $16,402 $16,683 $29,973
2021 $4,518 $14,792 $14,983 $29,980
2020 $4,001 $13,693 $14,041 $31,056
2019 $4,348 $13,605 $19,142 $34,219
2018 $4,108 $12,317 $18,440 $32,091
2017 $3,646 $11,096 $17,480 $30,675
2016 $3,620 $10,511 $16,567 $28,811
2015 $3,839 $10,458 $15,333 $25,435
2014 $4,126 $10,900 $15,188 $24,985
2013 $4,340 $10,442 $14,821 $22,487
2012 $4,329 $10,152 $12,337 $22,264
2011 $3,736 $8,862 $12,110 $21,781
2010 $2,625 $7,532 $10,935 $18,982
2009 $1,703 $7,119 $9,747 $18,453
2008 $2,127 $7,297 $11,265 $18,881
2007 $1,628 $6,678 $12,669 $19,473
2006 $1,330 $5,977 $12,783 $17,503
2005 $995 $5,406 $11,802 $15,846
2004 $794 $4,942 $10,828 $14,160
2003 $643 $4,399 $9,070 $14,142
2002 $570 $4,083 $8,864 $14,570
2001 $524 $3,889 $8,153 $14,615
2000 $476 $3,740 $8,064 $14,638
1999 $449 $3,664 $8,243 $13,853
1998 $484 $3,555 $8,210 $13,675
1997 $515 $3,449 $7,747 $13,458
1996 $596 $3,310 $7,004 $11,931
1995 $653 $3,229 $7,181 $10,809
1994 $423 $3,021 $6,975 $10,692
1993 $355 $2,929 $6,979 $11,020
1992 $608 $2,951 $6,520 $10,243
1991 $1,099 $3,183 $5,655 $9,387
1990 $1,220 $3,479 $5,642 $8,955
1989 $1,684 - $4,689 -
1988 $1,543 - $4,392 -
1987 $1,493 - $3,872 -
1986 $1,469 - $3,368 -
1985 $1,138 - $2,754 -
1984 $1,120 - $2,488 -
1983 $1,490 - $2,426 -
1982 $1,430 - $2,441 -
1981 $1,325 - $2,557 -
1980 $1,235 - $2,478 -
1979 - - $2,030 -
1978 - - $1,377 -
1977 - - $1,044 -
1976 - - $814 -
1975 - - $806 -
1974 - - $745 -
1973 - - $649 -
1972 - - $547 -
1971 - - $402 -
1970 - - $344 -
1969 - - $314 -
1968 - - $314 -
1967 - - $333 -
1966 - - $338 -
1965 - - $328 -
1964 - - $332 -
1963 - - $308 -
1962 - - $287 -
1961 - - $270.3 -
1960 - - $288.1 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/mongolia/seychelles | CC BY

Mongolia's GDP per capita is $7,108, ranking 103/197, compared to $19,449 in the Seychelles, ranking 64/197. Adjusted for purchasing power (GDP per capita PPP), Mongolia ranks 98th at $19,145, while the Seychelles ranks 67th at $33,239.

Economic indicators

Mongolia Seychelles
Gross domestic product
$25.4B
2025
$2.39B
2025
GDP rank
123/197
2025
177/197
2025
GDP growth
6.84%
2024-2025
5.8%
2024-2025
GDP per capita
$7,108
2025
$19,449
2025
GDP per capita rank
103/197
2025
64/197
2025
GDP per capita, PPP
$19,145
2024
$33,239
2024
GDP per capita PPP rank
98/197
2024
67/197
2024
Government debt
$11.4B
2025
$1.23B
2025
Debt-to-GDP ratio
45.1%
2025
51.5%
2025
Government debt per person
$3,207
2025
$10,019
2025
Government debt per person rank
101/185
2025
59/185
2025
Average annual personal income after taxes
$7,064
2026
$11,537
2026
Market capitalization of domestic companies n/a
$646M
2025
Income share by richest 10%
24.6%
2022
23.9%
2018
Income share by poorest 10%
3.4%
2022
2.6%
2018
Government expenditure, % of GDP
34.6%
2025
32.7%
2025
Consumer prices inflation
8.6%
2024-2025
0.3%
2024-2025
Central bank interest rate
12%
2025
1.75%
2024
Unemployment rate
5.81%
2024
2.59%
2024
Population
3630744
125859

Spending and national debt comparison by year

Mongolia
Spending

Debt
Seychelles
Spending

Debt
1x
Year % of GDP
Mongolia Seychelles
Government spending Government debt Government spending Government debt
2025 34.6% 45.1% 32.7% 51.5%
2024 37.5% 44.1% 33% 56.1%
2023 31.9% 46.7% 33.1% 55.1%
2022 33.7% 64.5% 31.6% 60.6%
2021 35.9% 67.3% 38.8% 71%
2020 37.1% 83.4% 46.7% 77.4%
2019 30.8% 66.8% 31.7% 48.9%
2018 28.4% 76.5% 33% 51.3%
2017 32.2% 86.9% 34.3% 56.7%
2016 39.7% 78.7% 34.5% 64.3%
2015 31.2% 50.5% 31.5% 75.4%
2014 32.1% 44% 33.4% 70.4%
2013 32.2% 49.4% 37.8% 68.2%
2012 36.1% 43.7% 38.6% 80.1%
2011 37.9% 32.7% 36.4% 82.5%
2010 31.6% 31% 34.6% 82.2%
2009 35.5% 48.5% 32.1% 106.1%
2008 37.6% 31% 27% 192.1%
2007 35.3% 36.1% 41.9% 144%
2006 26.2% 40.9% 43.6% 135.1%
2005 25.1% 55.9% 39% 144.1%
2004 31.8% 75% 39.9% 163.2%
2003 33.7% 90% 44.6% 177%
2002 35.5% 72% 56.3% 195.9%
2001 35.2% 69.2% 46.8% 199.8%
2000 34.5% 79.3% 55.4% 177.8%
1999 33.2% 103.7% 56.1% 159.8%
1998 36.2% 77.5% 60.7% 161.2%
1997 30.8% 61% 54.7% 143%
1996 28.6% 49.7% 59.1% 146.7%
1995 26.6% 40.2% 53.1% 133.5%
1994 32.2% 57.6% 63.6% 123.5%
1993 38.3% 57.8% 60.4% 82.2%
1992 29.1% 29.3% 50.7% 79.9%
1991 46% - 52.1% 89.2%
1990 51.7% - 46.1% 80.4%
1989 - - 51.7% 39.9%
1988 - - 46.7% 41.3%
1987 - - 49.7% 37%
1986 - - 58% 31.5%
1985 - - 53% 26.5%
1984 - - 50.5% 15.3%
1983 - - 47.9% 12.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1983–2005, retrieved 2026-07-08).

GeoRank.org/economy/mongolia/seychelles | CC BY

In 2025, Mongolia's government spending was $8.78B, accounting for 34.6% of its GDP, while the Seychelles spent $781M, or 32.7% of GDP.

Debt-to-GDP ratio is 45.1% in Mongolia and 51.5% in the Seychelles, ranking 116/185 and 102/185, respectively.

Government deficit by year

Deficit/surplus
Mongolia

Seychelles
1x
Year Deficit/surplus, % of GDP
Mongolia Seychelles
2025 1.7% -0.99%
2024 1.39% -0.68%
2023 2.73% -1.15%
2022 0.67% -0.77%
2021 -3.05% -5.76%
2020 -9.24% -15.7%
2019 1% 0.42%
2018 2.85% -0.8%
2017 -3.72% -1.67%
2016 -15.3% 0.02%
2015 -5.04% 1.39%
2014 -3.73% 2.87%
2013 -0.93% 0.33%
2012 -6.24% 2.93%
2011 -4.01% 3.36%
2010 0.43% 0.52%
2009 -5.2% 4.84%
2008 -4.52% 7.88%
2007 2.64% -9.93%
2006 7.58% -2.54%
2005 2.43% 0.42%
2004 -1.62% 0.44%
2003 -3.38% 3.4%
2002 -4.74% -16.3%
2001 -4.33% -8.93%
2000 -5.82% -14.7%
1999 -9.91% -10.3%
1998 -12.3% -16.7%
1997 -8.09% -5.91%
1996 -6.88% -9.69%
1995 -4.97% -2.58%
1994 -9.74% -6.95%
1993 -13.3% -3.62%
1992 -8.1% 6.44%
1991 -6.37% 3.15%
1990 -9.37% 11.9%
1989 - 8.26%
1988 - 11.8%
1987 - 2.77%
1986 - -10.1%
1985 - -4.86%
1984 - -6.09%
1983 - -3.13%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1983–1989, retrieved 2026-07-08).

GeoRank.org/economy/mongolia/seychelles | CC BY

In 2025, Mongolia's government surplus, the difference between spending and revenue, was $432M, equivalent to 1.7% of GDP. This compares to the Seychelles' deficit of $23.5M, or 0.99% of GDP.

Over the past 36 years, Mongolia recorded a fiscal deficit in 26 of those years, while the Seychelles ran a deficit in 20 years. On average, Mongolia posted an annual deficit equal to 4.07% of GDP, compared to deficit of 2.37% of GDP for the Seychelles.

Inflation comparison by year

Inflation
Mongolia

Seychelles
1x
Year Consumer prices inflation
Mongolia Seychelles
2025 8.6% 0.3%
2024 6.2% 0.31%
2023 10.4% -1.04%
2022 15.1% 2.63%
2021 7.4% 9.77%
2020 3.7% 1.2%
2019 7.3% 1.81%
2018 6.8% 3.7%
2017 4.3% 2.86%
2016 0.8% -1.02%
2015 6.8% 4.04%
2014 12.9% 1.39%
2013 10.6% 4.34%
2012 13.8% 7.11%
2011 8.8% 2.56%
2010 8.3% -2.4%
2009 7.6% 31.8%
2008 28% 37%
2007 9.6% 5.32%
2006 4.4% -0.35%
2005 12.6% 0.91%
2004 8.3% 3.86%
2003 5.2% 3.3%
2002 0.9% 0.18%
2001 6.4% 5.97%
2000 11.3% 6.27%
1999 7.6% 6.35%
1998 9.5% 2.58%
1997 30% 0.62%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/mongolia/seychelles | CC BY

Over the past 29 years, Mongolia has recorded an average annual inflation rate of 9.42%, compared with 4.87% in the Seychelles. In 2025, inflation was 8.6% in Mongolia and 0.3% in the Seychelles.

Balance of trade

Mongolia Seychelles
Current account balance
-$2.49B
2024
-$166M
2024
Current account balance ranking
147/190
2024
90/190
2024
Current account balance, % of GDP
-10.4%
2024
-7.46%
2024
Goods imports
$11.7B
2024
$1.38B
2024
Goods exports
$14.7B
2024
$595M
2024
Service imports
$4.92B
2024
$1B
2024
Service exports
$1.6B
2024
$1.71B
2024
Imports of goods and services, % of GDP
62.6%
2025
92.7%
2025
Exports of goods and services, % of GDP
68.1%
2025
79.6%
2025

Economic freedom indices

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

Mongolia Seychelles
Economic freedom 63.9 66.5
Economic freedom ranking 76/197 60/197
Property rights 49.2 82.6
Government integrity 35.8 71.7
Judicial effectiveness 54.9 61.7
Tax burden 83.7 77.3
Government spending 64.6 68
Fiscal health 96.1 92.2
Business freedom 68.4 71.3
Labor freedom 68.2 52
Monetary freedom 72.1 79.8
Trade freedom 74.4 81.2
Investment freedom 50 30
Financial freedom 50 30

Economic freedom comparison by year

Mongolia
Seychelles
1x
Year Economic freedom index
Mongolia Seychelles
2026 63.9 66.5
2025 62.6 66.4
2024 60.6 60.4
2023 61.7 59.5
2022 63.9 61.1
2021 62.4 66.3
2020 55.9 64.3
2019 55.4 61.4
2018 55.7 61.6
2017 54.8 61.8
2016 59.4 62.2
2015 59.2 57.5
2014 58.9 56.2
2013 61.7 54.9
2012 61.5 53
2011 59.5 51.2
2010 60 47.9
2009 62.8 47.8
2008 63.6 -
2007 60.3 -
2006 62.4 -
2005 59.7 -
2004 56.5 -
2003 57.7 -
2002 56.7 -
2001 56 -
2000 58.5 -
1999 58.6 -
1998 57.3 -
1997 52.9 -
1996 47.4 -
1995 47.8 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/mongolia/seychelles | CC BY

The Economic Freedom Index for Mongolia is 63.9, ranking 76/197, compared to 66.5 for the Seychelles, ranking 60/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Mongolia Seychelles
Services, % of GDP
44.3%
2025
67.9%
2025
Industry, % of GDP
37.2%
2025
14.3%
2025
Agriculture, forestry, and fishing, % of GDP
8.94%
2025
2.61%
2025
GNI, Atlas method
$22.2B
2025
$2.36B
2025
GNI per capita, PPP
$18,460
2025
$34,930
2025
Total reserves including gold
$7B
2025
$774M
2024
Total reserves ranking
91/177
2025
146/177
2024
Net foreign direct investment
-$2.73B
2024
-$268M
2024
Net inflows of foreign direct investment
$2.78B
2024
$226M
2024
Net outflows of foreign direct investment
$55.5M
2024
-$41.4M
2024
Servicing debt to the IMF, % of GNI
25.7%
2024
n/a
Poverty at national poverty lines
27.1%
2022
25.3%
2018
Gross capital formation, % of GDP
31.4%
2025
18.7%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/mongolia/seychelles | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1983–2005, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

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.