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Economy of Mozambique vs Russia compared: GDP & Debt

Updated on by Georank team

Mozambique has a GDP of $22.7B compared to $2.17T for Russia, ranking 123/197 and 11/197 by economy size, respectively.

Mozambique has $21.2B in government debt (93.2% of GDP), compared to $440B (20.3% of GDP) in Russia.

Mozambique vs Russia GDP by year

Mozambique
Russia
1x
Year GDP, current $
Mozambique Russia
2024 $22,745,341,305 $2,173,835,806,672
2023 $20,921,079,533 $2,071,505,725,031
2022 $18,883,528,581 $2,291,612,121,335
2021 $16,168,055,475 $1,829,186,719,575
2020 $14,235,420,174 $1,493,075,894,362
2019 $15,512,759,047 $1,693,115,002,708
2018 $15,017,358,953 $1,657,328,773,461
2017 $13,264,640,646 $1,574,199,360,089
2016 $12,069,051,237 $1,276,786,350,881
2015 $16,208,985,770 $1,363,482,182,198
2014 $17,978,246,586 $2,059,241,589,895
2013 $17,198,073,057 $2,292,470,078,346
2012 $16,688,114,144 $2,208,293,553,878
2011 $14,619,279,989 $2,045,922,753,398
2010 $11,411,894,724 $1,524,916,715,224
2009 $12,263,894,790 $1,222,645,900,056
2008 $12,920,340,965 $1,660,848,058,303
2007 $10,811,456,006 $1,299,703,478,482
2006 $9,509,835,537 $989,932,071,353
2005 $8,868,504,900 $764,015,973,481
2004 $7,937,255,565 $591,016,690,732
2003 $6,583,526,861 $430,347,420,185
2002 $5,950,769,427 $345,470,494,418
2001 $5,650,154,067 $306,602,070,621
2000 $5,930,685,215 $259,710,142,197
1999 $6,285,219,691 $195,907,128,351
1998 $5,551,118,149 $270,955,486,862
1997 $4,873,663,775 $404,928,954,192
1996 $4,030,146,135 $391,724,890,744
1995 $3,061,646,174 $395,537,185,735
1994 $2,958,108,170 $395,077,301,248
1993 $2,883,161,897 $435,083,713,851
1992 $2,798,696,511 $460,290,556,901
1991 $3,854,856,435 $517,962,962,963
1990 - $517,014,446,228
1989 - $506,631,299,735
1988 - $554,828,660,436

Data sources: World Bank | Economy & Growth (1988–2024, retrieved 2026-04-06).

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

GDP per capita in Mozambique vs Russia by year

Mozambique
GDP per capita

GDP per capita, PPP
Russia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Mozambique Russia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $657 $1,705 $15,145 $47,405
2023 $622 $1,678 $14,403 $44,269
2022 $578 $1,582 $15,888 $40,939
2021 $510 $1,457 $12,637 $38,638
2020 $462 $1,412 $10,280 $31,491
2019 $519 $1,389 $11,640 $30,964
2018 $518 $1,326 $11,399 $28,629
2017 $471 $1,283 $10,835 $25,778
2016 $441 $1,379 $8,804 $24,012
2015 $611 $1,318 $9,427 $23,994
2014 $697 $1,166 $14,277 $25,688
2013 $687 $1,114 $15,941 $26,020
2012 $686 $1,076 $15,402 $24,274
2011 $618 $1,064 $14,305 $22,790
2010 $496 $1,000 $10,675 $20,490
2009 $548 $951 $8,563 $19,390
2008 $592 $916 $11,635 $20,164
2007 $508 $862 $9,101 $16,648
2006 $457 $798 $6,920 $14,912
2005 $437 $721 $5,323 $11,822
2004 $400 $673 $4,102 $10,227
2003 $339 $620 $2,975 $9,255
2002 $314 $580 $2,378 $8,037
2001 $305 $533 $2,100 $7,361
2000 $327 $472 $1,772 $6,825
1999 $354 $468 $1,331 $5,914
1998 $320 $422 $1,835 $5,465
1997 $287.5 $387 $2,738 $5,700
1996 $244.4 $350 $2,644 $5,518
1995 $191.8 $321 $2,666 $5,613
1994 $196.8 $326 $2,662 $5,734
1993 $205.2 $321 $2,931 $6,420
1992 $205.6 $292 $3,099 $6,862
1991 $288.7 $315 $3,490 $7,858
1990 - $296 $3,494 $8,028
1989 - - $3,430 -
1988 - - $3,778 -

Data sources: World Bank | Economy & Growth (1988–2024, retrieved 2026-04-06).

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

Mozambique's GDP per capita is $657, ranking 189/197, compared to $15,145 in Russia, ranking 68/197. Adjusted for purchasing power (GDP per capita PPP), Mozambique ranks 192nd at $1,705, while Russia ranks 50th at $47,405.

Economic indicators

Mozambique Russia
Gross domestic product
$22.7B
2024
$2.17T
2024
GDP rank
123/197
2024
11/197
2024
GDP growth
2.15%
2023-2024
4.34%
2023-2024
GDP per capita
$657
2024
$15,145
2024
GDP per capita rank
189/197
2024
68/197
2024
GDP per capita, PPP
$1,705
2024
$47,405
2024
GDP per capita PPP rank
192/197
2024
50/197
2024
Government debt
$21.2B
2024
$440B
2024
Debt-to-GDP ratio
93.2%
2024
20.3%
2024
Government debt per person
$612
2024
$3,067
2024
Government debt per person rank
159/185
2024
98/185
2024
Average annual personal income after taxes
$1,778
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%
40.8%
2022
25.1%
2023
Income share by poorest 10%
1.7%
2022
3.1%
2023
Government expenditure, % of GDP
33.2%
2024
36.9%
2024
Consumer prices inflation
3.2%
2023-2024
8.4%
2023-2024
Central bank interest rate
9.75%
2025
16%
2025
Unemployment rate
6.79%
2022
2.43%
2024
Population
36941128
141906741

Spending and national debt comparison by year

Mozambique
Spending

Debt
Russia
Spending

Debt
1x
Year % of GDP
Mozambique Russia
Government spending Government debt Government spending Government debt
2024 33.2% 93.2% 36.9% 20.3%
2023 33.3% 90.9% 35.7% 19.5%
2022 32.9% 100.3% 35.2% 18.5%
2021 32.1% 104.3% 34.9% 16.5%
2020 33.9% 120% 39.2% 19.2%
2019 28% 98.3% 33.8% 13.7%
2018 32.9% 105.5% 32.6% 13.6%
2017 29.5% 103.8% 34.8% 14.3%
2016 29.1% 124.8% 36.6% 14.8%
2015 32.2% 86% 35.3% 15.3%
2014 39.7% 63.4% 34.9% 15.1%
2013 31.7% 49.5% 34.7% 12.3%
2012 28.1% 36.7% 34% 11.2%
2011 28.9% 34.2% 33.3% 10.3%
2010 26.7% 38.6% 35.5% 10.1%
2009 25.7% 39.3% 38.6% 9.92%
2008 21.3% 32.8% 32% 7.45%
2007 20.9% 31.2% 31.9% 8.03%
2006 20.1% 40% 29% 9.8%
2005 17% 60.1% 29.5% 14.9%
2004 17.8% 50.8% 29.6% 20.8%
2003 18.6% 63.2% 32.6% 28.3%
2002 18.6% 63.4% 33.8% 37.6%
2001 20.8% 99.8% 31.5% 44.4%
2000 17.2% 95.8% 30.7% 55.9%
1999 15.6% 94.7% 34.3% 92.4%
1998 14.9% - 39.7% 135.2%
1997 16.5% - - 51.5%
1996 14.9% - - 51.9%
1995 18.8% - - 53.7%
1994 22.9% - - 63.5%
1993 20.7% - - 92.4%
1992 21.1% - - 116%
1991 17.3% - - -
1990 21% - - -
1989 27% - - -
1988 27% - - -
1987 22.9% - - -
1986 24.2% - - -
1985 21% - - -
1984 30.9% - - -
1983 35.3% - - -
1982 27% - - -
1981 23.8% - - -
1980 14.2% - - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1996, retrieved 2026-02-20).

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

In 2024, Mozambique's government spending was $7.56B, accounting for 33.2% of its GDP, while Russia spent $802B, or 36.9% of GDP.

Debt-to-GDP ratio is 93.2% in Mozambique and 20.3% in Russia, ranking 28/185 and 175/185, respectively.

Government deficit by year

Deficit/surplus
Mozambique

Russia
1x
Year Deficit/surplus, % of GDP
Mozambique Russia
2024 -6.17% -1.6%
2023 -4.26% -2.22%
2022 -5.22% -1.34%
2021 -5.23% 0.78%
2020 -6.19% -3.99%
2019 1.7% 1.93%
2018 -7.39% 2.92%
2017 -2.9% -1.47%
2016 -5.42% -3.67%
2015 -6.55% -3.39%
2014 -9.75% -1.07%
2013 -2.46% -1.16%
2012 -3.45% 0.38%
2011 -4.34% 1.43%
2010 -3.5% -3.19%
2009 -4.35% -5.89%
2008 -1.9% 4.55%
2007 -2.19% 5.59%
2006 -3.03% 7.8%
2005 -2.06% 7.6%
2004 -3.17% 4.57%
2003 -2.64% 1.35%
2002 -3.36% 0.67%
2001 -4.43% 2.99%
2000 -1.26% 3.11%
1999 -0.31% -3.59%
1998 -1.08% -7.42%
1997 -1.81% -
1996 -2.07% -
1995 -2.46% -
1994 -4% -
1993 -2.53% -
1992 -1.85% -
1991 -2.01% -
1990 -4.42% -
1989 -4.23% -
1988 -6.47% -
1987 -7.24% -
1986 -12.1% -
1985 -9.69% -
1984 -13.4% -
1983 -15.8% -
1982 -3.61% -
1981 -7.41% -
1980 -1.47% -
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1885–1989, retrieved 2026-02-20).

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

In 2024, Mozambique's government deficit, the difference between spending and revenue, was $1.4B, equivalent to 6.17% of GDP. This compares to Russia's deficit of $34.9B, or 1.6% of GDP.

Over the past 27 years, Mozambique recorded a fiscal deficit in 26 of those years, while Russia ran a deficit in 13 years. On average, Mozambique posted an annual deficit equal to 3.74% of GDP, compared to surplus of 0.21% of GDP for Russia.

Inflation comparison by year

Inflation
Mozambique

Russia
1x
Year Consumer prices inflation
Mozambique Russia
2024 3.2% 8.4%
2023 7% 5.9%
2022 10.4% 13.7%
2021 6.6% 6.7%
2020 0.9% 3.4%
2019 5.7% 4.5%
2018 3.2% 2.9%
2017 15.8% 3.7%
2016 18.4% 7%
2015 3.6% 15.5%
2014 2.6% 7.8%
2013 4.3% 6.8%
2012 2.6% 5.1%
2011 11.2% 8.4%
2010 12.4% 6.8%
2009 3.8% 11.6%
2008 14.5% 14.1%
2007 10.4% 9%
2006 13.2% 9.7%
2005 6.4% 12.7%
2004 12.6% 10.9%
2003 13.5% 13.7%
2002 16.8% 15.8%
2001 9.1% 21.5%
2000 12.7% 20.8%
1999 2.9% 85.7%
1998 1.5% 27.7%
1997 7.4% 14.8%

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

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

Over the past 28 years, Mozambique has recorded an average annual inflation rate of 8.31%, compared with 13.4% in Russia. In 2024, inflation was 3.2% in Mozambique and 8.4% in Russia.

Top exports between countries

Mozambique
Export category Export value
Raw materials & minerals $8.41M
Machinery & equipment $808K
Raw agricultural goods $758K
Metals $111K
Chemicals & pharma $69K
Processed food, beverages & tobacco $58K
Textiles & consumer goods $39K
Animal & marine products $3K
Russia
Export category Export value
Raw materials & minerals $25.7M
Raw agricultural goods $24.2M
Processed food, beverages & tobacco $3.53M
Animal & marine products $436K
Chemicals & pharma $398K
Machinery & equipment $389K
Wood & paper products $128K
Business & finance services $71K
Transport & tourism services $39K
Miscellaneous $23K

Balance of trade

Mozambique Russia
Current account balance
-$2.49B
2024
$63.4B
2024
Current account balance ranking
150/190
2024
12/190
2024
Current account balance, % of GDP
-11%
2024
+2.91%
2024
Goods imports
$8.38B
2024
$302B
2024
Goods exports
$8.21B
2024
$434B
2024
Service imports
$2.11B
2024
$81.5B
2024
Service exports
$1.15B
2024
$43.1B
2024
Imports of goods and services, % of GDP
52.8%
2024
17.6%
2024
Exports of goods and services, % of GDP
42.8%
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.

Mozambique Russia
Economic freedom 49.6 50.3
Economic freedom ranking 164/197 161/197
Property rights 29.7 18.6
Government integrity 25.1 22.8
Judicial effectiveness 43.4 22.8
Tax burden 75.8 81.9
Government spending 67 61.3
Fiscal health 39.1 94.4
Business freedom 40.2 51.4
Labor freedom 47.7 59.1
Monetary freedom 76.2 61.8
Trade freedom 71.2 69.4
Investment freedom 40 30
Financial freedom 40 30

Economic freedom comparison by year

Mozambique
Russia
1x
Year Economic freedom index
Mozambique Russia
2026 49.6 50.3
2025 50.7 51.6
2024 50.7 52
2023 52.5 53.8
2022 51.3 56.1
2021 51.6 61.5
2020 50.5 61
2019 48.6 58.9
2018 46.3 58.2
2017 49.9 57.1
2016 53.2 50.6
2015 54.8 52.1
2014 55 51.9
2013 55 51.1
2012 57.1 50.5
2011 56.8 50.5
2010 56 50.3
2009 55.7 50.8
2008 55.4 49.8
2007 54.7 52.2
2006 51.9 52.4
2005 54.6 51.3
2004 57.2 52.8
2003 58.6 50.8
2002 57.7 48.7
2001 59.2 49.8
2000 52.2 51.8
1999 48.9 54.5
1998 43 52.8
1997 44 48.6
1996 48.4 51.6
1995 45.5 51.1

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

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

The Economic Freedom Index for Mozambique is 49.6, ranking 164/197, 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

Mozambique Russia
Services, % of GDP
41.1%
2024
57.5%
2024
Industry, % of GDP
21.9%
2024
30.7%
2024
Agriculture, forestry, and fishing, % of GDP
25.2%
2024
2.74%
2024
GNI, Atlas method
$19.1B
2024
$2.24T
2024
GNI per capita, PPP
$1,520
2024
$46,780
2024
Total reserves including gold
$3.84B
2024
$597B
2023
Total reserves ranking
108/177
2024
6/177
2023
Net foreign direct investment
-$3.55B
2024
$9.37B
2024
Net inflows of foreign direct investment
$3.51B
2024
-$9.35B
2024
Net outflows of foreign direct investment
-$44.1M
2024
-$170M
2024
Servicing debt to the IMF, % of GNI
22.4%
2024
2.65%
2024
Poverty at national poverty lines
65%
2022
12.1%
2020
Gross capital formation, % of GDP
17.7%
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/mozambique/russia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1985–2024, 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 (1885–1996, 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.