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Economy of Mozambique vs Sierra Leone compared: GDP & Debt

Updated on by Georank team

Mozambique has a GDP of $22.7B compared to $6.97B for Sierra Leone, ranking 123/197 and 160/197 by economy size, respectively.

Mozambique has $21.2B in government debt (93.2% of GDP), compared to $2.91B (41.7% of GDP) in Sierra Leone.

Mozambique vs Sierra Leone GDP by year

Mozambique
Sierra Leone
1x
Year GDP, current $
Mozambique Sierra Leone
2024 $22,745,341,305 $6,971,127,235
2023 $20,921,079,533 $6,415,852,767
2022 $18,883,528,581 $7,121,125,278
2021 $16,168,055,475 $7,166,931,485
2020 $14,235,420,174 $6,688,307,703
2019 $15,512,759,047 $6,523,577,594
2018 $15,017,358,953 $6,390,514,689
2017 $13,264,640,646 $5,749,846,528
2016 $12,069,051,237 $6,084,297,211
2015 $16,208,985,770 $6,788,352,975
2014 $17,978,246,586 $7,686,138,791
2013 $17,198,073,057 $7,502,762,863
2012 $16,688,114,144 $6,141,666,509
2011 $14,619,279,989 $4,861,632,885
2010 $11,411,894,724 $4,262,805,967
2009 $12,263,894,790 $3,953,403,098
2008 $12,920,340,965 $4,157,895,298
2007 $10,811,456,006 $3,632,957,611
2006 $9,509,835,537 $3,263,697,467
2005 $8,868,504,900 $2,545,275,313
2004 $7,937,255,565 $2,237,350,687
2003 $6,583,526,861 $2,142,618,046
2002 $5,950,769,427 $1,933,863,911
2001 $5,650,154,067 $1,681,473,894
2000 $5,930,685,215 $635,866,404
1999 $6,285,219,691 $669,386,624
1998 $5,551,118,149 $672,368,187
1997 $4,873,663,775 $850,232,760
1996 $4,030,146,135 $941,709,423
1995 $3,061,646,174 $870,740,292
1994 $2,958,108,170 $911,853,802
1993 $2,883,161,897 $768,867,883
1992 $2,798,696,511 $679,940,814
1991 $3,854,856,435 $779,981,987
1990 - $649,644,098
1989 - $932,974,420
1988 - $1,055,083,933
1987 - $660,106,336
1986 - $490,181,457
1985 - $856,890,459
1984 - $1,087,471,862
1983 - $995,104,305
1982 - $1,295,361,886
1981 - $1,114,830,472
1980 - $1,100,685,845
1979 - $1,109,374,911
1978 - $960,728,339
1977 - $691,777,584
1976 - $594,895,942
1975 - $679,336,344
1974 - $648,590,643
1973 - $575,230,724
1972 - $465,381,340
1971 - $419,549,305
1970 - $434,410,974
1969 - $408,690,163
1968 - $329,859,732
1967 - $348,795,303
1966 - $375,479,850
1965 - $359,379,856
1964 - $371,847,461
1963 - $348,547,279
1962 - $342,721,416
1961 - $327,834,191
1960 - $322,009,962

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

GeoRank.org/economy/mozambique/sierra-leone | CC BY

GDP per capita in Mozambique vs Sierra Leone by year

Mozambique
GDP per capita

GDP per capita, PPP
Sierra Leone
GDP per capita

GDP per capita, PPP
1x
Year Current $
Mozambique Sierra Leone
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $657 $1,705 $807 $3,522
2023 $622 $1,678 $758 $3,368
2022 $578 $1,582 $860 $3,144
2021 $510 $1,457 $885 $2,849
2020 $462 $1,412 $845 $2,719
2019 $519 $1,389 $844 $2,704
2018 $518 $1,326 $846 $2,640
2017 $471 $1,283 $779 $2,501
2016 $441 $1,379 $844 $2,635
2015 $611 $1,318 $965 $2,560
2014 $697 $1,166 $1,118 $2,762
2013 $687 $1,114 $1,117 $2,701
2012 $686 $1,076 $938 $2,317
2011 $618 $1,064 $761 $2,043
2010 $496 $1,000 $685 $1,900
2009 $548 $951 $653 $1,814
2008 $592 $916 $705 $1,824
2007 $508 $862 $632 $1,770
2006 $457 $798 $580 $1,698
2005 $437 $721 $463 $1,615
2004 $400 $673 $418 $1,541
2003 $339 $620 $414 $1,458
2002 $314 $580 $389 $1,360
2001 $305 $533 $358 $1,121
2000 $327 $472 $143.7 $1,242
1999 $354 $468 $155 $1,167
1998 $320 $422 $156.5 $1,180
1997 $287.5 $387 $199.9 $1,157
1996 $244.4 $350 $224.3 $1,225
1995 $191.8 $321 $208.4 $1,187
1994 $196.8 $326 $218.5 $1,266
1993 $205.2 $321 $185 $1,269
1992 $205.6 $292 $163.2 $1,220
1991 $288.7 $315 $183.7 $1,445
1990 - $296 $154.8 $1,382
1989 - - $231.3 -
1988 - - $268.2 -
1987 - - $172.4 -
1986 - - $131.5 -
1985 - - $235.5 -
1984 - - $306 -
1983 - - $285.8 -
1982 - - $380 -
1981 - - $334 -
1980 - - $336 -
1979 - - $346 -
1978 - - $305 -
1977 - - $224.2 -
1976 - - $196.4 -
1975 - - $228.4 -
1974 - - $222.1 -
1973 - - $200.6 -
1972 - - $165.4 -
1971 - - $151.8 -
1970 - - $160.2 -
1969 - - $153.6 -
1968 - - $126.3 -
1967 - - $136.1 -
1966 - - $149.3 -
1965 - - $145.6 -
1964 - - $153.4 -
1963 - - $146.3 -
1962 - - $146.3 -
1961 - - $142.3 -
1960 - - $142 -

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

GeoRank.org/economy/mozambique/sierra-leone | CC BY

Mozambique's GDP per capita is $657, ranking 189/197, compared to $807 in Sierra Leone, ranking 186/197. Adjusted for purchasing power (GDP per capita PPP), Mozambique ranks 192nd at $1,705, while Sierra Leone ranks 171st at $3,522.

Economic indicators

Mozambique Sierra Leone
Gross domestic product
$22.7B
2024
$6.97B
2024
GDP rank
123/197
2024
160/197
2024
GDP growth
2.15%
2023-2024
4.29%
2023-2024
GDP per capita
$657
2024
$807
2024
GDP per capita rank
189/197
2024
186/197
2024
GDP per capita, PPP
$1,705
2024
$3,522
2024
GDP per capita PPP rank
192/197
2024
171/197
2024
Government debt
$21.2B
2024
$2.91B
2024
Debt-to-GDP ratio
93.2%
2024
41.7%
2024
Government debt per person
$612
2024
$337
2024
Government debt per person rank
159/185
2024
174/185
2024
Average annual personal income after taxes
$1,778
2026
$2,915
2026
Income share by richest 10%
40.8%
2022
29.4%
2018
Income share by poorest 10%
1.7%
2022
3.4%
2018
Government expenditure, % of GDP
33.2%
2024
15.6%
2024
Consumer prices inflation
3.2%
2023-2024
28.4%
2023-2024
Central bank interest rate
9.75%
2025
18.8%
2025
Unemployment rate
6.79%
2022
3.19%
2018
Population
36941128
9049533

Spending and national debt comparison by year

Mozambique
Spending

Debt
Sierra Leone
Spending

Debt
1x
Year % of GDP
Mozambique Sierra Leone
Government spending Government debt Government spending Government debt
2024 33.2% 93.2% 15.6% 41.7%
2023 33.3% 90.9% 15.4% 49.5%
2022 32.9% 100.3% 16.7% 54%
2021 32.1% 104.3% 16.8% 47.1%
2020 33.9% 120% 15.6% 46.4%
2019 28% 98.3% 13.3% 45.3%
2018 32.9% 105.5% 13.7% 44.2%
2017 29.5% 103.8% 15% 44.2%
2016 29.1% 124.8% 14.9% 38.9%
2015 32.2% 86% 13.1% 28.4%
2014 39.7% 63.4% 13.5% 26.8%
2013 31.7% 49.5% 11.4% 22.3%
2012 28.1% 36.7% 13.5% 24.1%
2011 28.9% 34.2% 13.2% 25.8%
2010 26.7% 38.6% 12.5% 28.9%
2009 25.7% 39.3% 11.3% 31.1%
2008 21.3% 32.8% 10.3% 46.1%
2007 20.9% 31.2% 8.1% 26.4%
2006 20.1% 40% 9.97% 61.9%
2005 17% 60.1% 10.9% 78.9%
2004 17.8% 50.8% 11.1% 93.2%
2003 18.6% 63.2% 11.7% 99.8%
2002 18.6% 63.4% 12.6% 99.8%
2001 20.8% 99.8% 12% 113.5%
2000 17.2% 95.8% 10.3% -
1999 15.6% 94.7% - -
1998 14.9% - - -
1997 16.5% - - -
1996 14.9% - - -
1995 18.8% - - -
1994 22.9% - - -
1993 20.7% - - -
1992 21.1% - - -
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 (1980–1989, retrieved 2026-02-20).

GeoRank.org/economy/mozambique/sierra-leone | CC BY

In 2024, Mozambique's government spending was $7.56B, accounting for 33.2% of its GDP, while Sierra Leone spent $1.09B, or 15.6% of GDP.

Debt-to-GDP ratio is 93.2% in Mozambique and 41.7% in Sierra Leone, ranking 28/185 and 128/185, respectively.

Government deficit by year

Deficit/surplus
Mozambique

Sierra Leone
1x
Year Deficit/surplus, % of GDP
Mozambique Sierra Leone
2024 -6.17% -4.53%
2023 -4.26% -4.99%
2022 -5.22% -5.93%
2021 -5.23% -4.35%
2020 -6.19% -3.5%
2019 1.7% -1.95%
2018 -7.39% -3.57%
2017 -2.9% -5.61%
2016 -5.42% -5.41%
2015 -6.55% -2.86%
2014 -9.75% -2.77%
2013 -2.46% -1.74%
2012 -3.45% -3.41%
2011 -4.34% -2.78%
2010 -3.5% -3.09%
2009 -4.35% -1.51%
2008 -1.9% -2.22%
2007 -2.19% 12.6%
2006 -3.03% -0.93%
2005 -2.06% -1.17%
2004 -3.17% -1.46%
2003 -2.64% -2.78%
2002 -3.36% -3.03%
2001 -4.43% -3.22%
2000 -1.26% -1.94%
1999 -0.31% -
1998 -1.08% -
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% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20).

GeoRank.org/economy/mozambique/sierra-leone | 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 Sierra Leone's deficit of $316M, or 4.53% of GDP.

Over the past 25 years, Mozambique recorded a fiscal deficit in 24 of those years, while Sierra Leone ran a deficit in 24 years. On average, Mozambique posted an annual deficit equal to 3.98% of GDP, compared to deficit of 2.49% of GDP for Sierra Leone.

Inflation comparison by year

Inflation
Mozambique

Sierra Leone
1x
Year Consumer prices inflation
Mozambique Sierra Leone
2024 3.2% 28.4%
2023 7% 47.7%
2022 10.4% 27.2%
2021 6.6% 11.9%
2020 0.9% 13.4%
2019 5.7% 14.8%
2018 3.2% 16%
2017 15.8% 18.2%
2016 18.4% 10.9%
2015 3.6% 6.7%
2014 2.6% 4.6%
2013 4.3% 5.5%
2012 2.6% 6.6%
2011 11.2% 6.8%
2010 12.4% 7.2%
2009 3.8% 7.5%
2008 14.5% 8.2%
2007 10.4% 17%
2006 13.2% 10.5%
2005 6.4% 13.7%
2004 12.6% 12.9%
2003 13.5% 4%
2002 16.8% 0.1%
2001 9.1% 2.6%
2000 12.7% -0.9%
1999 2.9% 34.1%
1998 1.5% 36%
1997 7.4% 14.6%

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

GeoRank.org/economy/mozambique/sierra-leone | CC BY

Over the past 28 years, Mozambique has recorded an average annual inflation rate of 8.31%, compared with 13.8% in Sierra Leone. In 2024, inflation was 3.2% in Mozambique and 28.4% in Sierra Leone.

Balance of trade

Mozambique Sierra Leone
Current account balance
-$2.49B
2024
-$606M
2023
Current account balance ranking
150/190
2024
109/190
2023
Current account balance, % of GDP
-11%
2024
-9.45%
2023
Goods imports
$8.38B
2024
$1.92B
2023
Goods exports
$8.21B
2024
$1.34B
2023
Service imports
$2.11B
2024
$348M
2023
Service exports
$1.15B
2024
$42.5M
2023
Imports of goods and services, % of GDP
52.8%
2024
23.3%
2024
Exports of goods and services, % of GDP
42.8%
2024
17.3%
2024

Economic freedom indices

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

Mozambique Sierra Leone
Economic freedom 49.6 49.6
Economic freedom ranking 164/197 165/197
Property rights 29.7 32.9
Government integrity 25.1 35.8
Judicial effectiveness 43.4 42
Tax burden 75.8 88.2
Government spending 67 92.4
Fiscal health 39.1 54.1
Business freedom 40.2 44.8
Labor freedom 47.7 38.2
Monetary freedom 76.2 53.6
Trade freedom 71.2 63.6
Investment freedom 40 30
Financial freedom 40 20

Economic freedom comparison by year

Mozambique
Sierra Leone
1x
Year Economic freedom index
Mozambique Sierra Leone
2026 49.6 49.6
2025 50.7 48
2024 50.7 44.6
2023 52.5 50.2
2022 51.3 52
2021 51.6 51.7
2020 50.5 48
2019 48.6 47.5
2018 46.3 51.8
2017 49.9 52.6
2016 53.2 52.3
2015 54.8 51.7
2014 55 50.5
2013 55 48.3
2012 57.1 49.1
2011 56.8 49.6
2010 56 47.9
2009 55.7 47.8
2008 55.4 48.3
2007 54.7 47
2006 51.9 45.2
2005 54.6 44.8
2004 57.2 43.6
2003 58.6 42.2
2002 57.7 -
2001 59.2 -
2000 52.2 44.2
1999 48.9 47.2
1998 43 47.7
1997 44 45
1996 48.4 52.3
1995 45.5 49.8

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

GeoRank.org/economy/mozambique/sierra-leone | CC BY

The Economic Freedom Index for Mozambique is 49.6, ranking 164/197, compared to 49.6 for Sierra Leone, ranking 165/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Mozambique Sierra Leone
Services, % of GDP
41.1%
2024
42.6%
2024
Industry, % of GDP
21.9%
2024
25.6%
2024
Agriculture, forestry, and fishing, % of GDP
25.2%
2024
29.2%
2024
GNI, Atlas method
$19.1B
2024
$7.08B
2024
GNI per capita, PPP
$1,520
2024
$3,490
2024
Total reserves including gold
$3.84B
2024
$433M
2024
Total reserves ranking
108/177
2024
160/177
2024
Net foreign direct investment
-$3.55B
2024
-$241M
2023
Net inflows of foreign direct investment
$3.51B
2024
$122M
2024
Net outflows of foreign direct investment
-$44.1M
2024
$0
2024
Servicing debt to the IMF, % of GNI
22.4%
2024
2.22%
2024
Poverty at national poverty lines
65%
2022
56.8%
2018
Gross capital formation, % of GDP
17.7%
2024
20.5%
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/mozambique/sierra-leone | 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. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. 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.