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Economy of Mozambique vs Singapore compared: GDP & Debt

Updated on by Georank team

Mozambique has a GDP of $22.7B compared to $547B for Singapore, ranking 123/197 and 28/197 by economy size, respectively.

Mozambique has $21.2B in government debt (93.2% of GDP), compared to $950B (173.5% of GDP) in Singapore.

Mozambique vs Singapore GDP by year

Mozambique
Singapore
1x
Year GDP, current $
Mozambique Singapore
2024 $22,745,341,305 $547,386,645,892
2023 $20,921,079,533 $505,439,514,078
2022 $18,883,528,581 $509,017,841,147
2021 $16,168,055,475 $436,591,382,250
2020 $14,235,420,174 $349,165,858,545
2019 $15,512,759,047 $376,161,998,830
2018 $15,017,358,953 $377,123,710,561
2017 $13,264,640,646 $343,673,334,902
2016 $12,069,051,237 $319,646,468,521
2015 $16,208,985,770 $307,998,545,269
2014 $17,978,246,586 $314,863,580,758
2013 $17,198,073,057 $307,576,360,585
2012 $16,688,114,144 $295,092,888,077
2011 $14,619,279,989 $279,356,499,090
2010 $11,411,894,724 $239,807,980,591
2009 $12,263,894,790 $194,150,283,772
2008 $12,920,340,965 $193,617,323,539
2007 $10,811,456,006 $180,941,701,358
2006 $9,509,835,537 $148,627,286,361
2005 $8,868,504,900 $127,807,848,728
2004 $7,937,255,565 $115,033,593,101
2003 $6,583,526,861 $97,646,401,096
2002 $5,950,769,427 $92,538,372,870
2001 $5,650,154,067 $89,793,790,670
2000 $5,930,685,215 $96,076,539,926
1999 $6,285,219,691 $86,286,849,755
1998 $5,551,118,149 $85,728,207,782
1997 $4,873,663,775 $100,123,787,215
1996 $4,030,146,135 $96,293,086,513
1995 $3,061,646,174 $87,812,540,788
1994 $2,958,108,170 $73,688,724,431
1993 $2,883,161,897 $60,603,815,716
1992 $2,798,696,511 $52,131,320,033
1991 $3,854,856,435 $45,466,164,978
1990 - $36,144,336,769
1989 - $30,465,364,739
1988 - $25,371,462,488
1987 - $20,919,215,578
1986 - $18,586,746,057
1985 - $19,156,532,746
1984 - $19,749,361,098
1983 - $17,784,112,150
1982 - $16,084,252,378
1981 - $14,175,228,844
1980 - $11,896,256,783
1979 - $9,296,921,724
1978 - $7,517,176,355
1977 - $6,618,585,074
1976 - $6,327,077,974
1975 - $5,633,673,930
1974 - $5,221,534,956
1973 - $3,696,213,333
1972 - $2,721,440,981
1971 - $2,263,785,444
1970 - $1,920,574,150
1969 - $1,659,893,768
1968 - $1,425,706,091
1967 - $1,238,035,816
1966 - $1,096,425,608
1965 - $974,644,096
1964 - $894,153,311
1963 - $917,608,012
1962 - $826,239,212
1961 - $764,629,788
1960 - $704,751,700

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

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

GDP per capita in Mozambique vs Singapore by year

Mozambique
GDP per capita

GDP per capita, PPP
Singapore
GDP per capita

GDP per capita, PPP
1x
Year Current $
Mozambique Singapore
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $657 $1,705 $90,674 $150,689
2023 $622 $1,678 $85,412 $143,786
2022 $578 $1,582 $90,299 $143,095
2021 $510 $1,457 $80,056 $132,617
2020 $462 $1,412 $61,410 $101,518
2019 $519 $1,389 $65,952 $105,335
2018 $518 $1,326 $66,882 $103,963
2017 $471 $1,283 $61,236 $95,744
2016 $441 $1,379 $57,006 $89,902
2015 $611 $1,318 $55,646 $87,156
2014 $697 $1,166 $57,565 $84,555
2013 $687 $1,114 $56,967 $83,088
2012 $686 $1,076 $55,548 $82,108
2011 $618 $1,064 $53,891 $80,052
2010 $496 $1,000 $47,237 $75,401
2009 $548 $951 $38,927 $66,213
2008 $592 $916 $40,009 $67,735
2007 $508 $862 $39,433 $68,805
2006 $457 $798 $33,768 $64,061
2005 $437 $721 $29,961 $58,822
2004 $400 $673 $27,608 $54,384
2003 $339 $620 $23,730 $48,778
2002 $314 $580 $22,160 $45,083
2001 $305 $533 $21,700 $43,109
2000 $327 $472 $23,853 $43,781
1999 $354 $468 $21,797 $39,949
1998 $320 $422 $21,829 $37,560
1997 $287.5 $387 $26,376 $39,286
1996 $244.4 $350 $26,233 $36,873
1995 $191.8 $321 $24,915 $35,090
1994 $196.8 $326 $21,552 $33,058
1993 $205.2 $321 $18,290 $30,062
1992 $205.6 $292 $16,136 $27,022
1991 $288.7 $315 $14,502 $25,530
1990 - $296 $11,862 $23,815
1989 - - $10,395 -
1988 - - $8,914 -
1987 - - $7,539 -
1986 - - $6,800 -
1985 - - $7,002 -
1984 - - $7,228 -
1983 - - $6,633 -
1982 - - $6,078 -
1981 - - $5,597 -
1980 - - $4,928 -
1979 - - $3,901 -
1978 - - $3,194 -
1977 - - $2,846 -
1976 - - $2,759 -
1975 - - $2,490 -
1974 - - $2,342 -
1973 - - $1,685 -
1972 - - $1,264 -
1971 - - $1,071 -
1970 - - $926 -
1969 - - $813 -
1968 - - $709 -
1967 - - $626 -
1966 - - $567 -
1965 - - $517 -
1964 - - $486 -
1963 - - $511 -
1962 - - $472 -
1961 - - $449 -
1960 - - $428 -

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

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

Mozambique's GDP per capita is $657, ranking 189/197, compared to $90,674 in Singapore, ranking 7/197. Adjusted for purchasing power (GDP per capita PPP), Mozambique ranks 192nd at $1,705, while Singapore ranks 2nd at $150,689.

Economic indicators

Mozambique Singapore
Gross domestic product
$22.7B
2024
$547B
2024
GDP rank
123/197
2024
28/197
2024
GDP growth
2.15%
2023-2024
4.39%
2023-2024
GDP per capita
$657
2024
$90,674
2024
GDP per capita rank
189/197
2024
7/197
2024
GDP per capita, PPP
$1,705
2024
$150,689
2024
GDP per capita PPP rank
192/197
2024
2/197
2024
Government debt
$21.2B
2024
$950B
2024
Debt-to-GDP ratio
93.2%
2024
173.5%
2024
Government debt per person
$612
2024
$157,326
2024
Government debt per person rank
159/185
2024
1/185
2024
Average annual personal income after taxes
$1,778
2026
$52,793
2026
Market capitalization of domestic companies n/a
$638B
2024
Number of millionaires n/a
331,000
2025
Number of billionaires n/a
49
2025
Income share by richest 10%
40.8%
2022
n/a
Income share by poorest 10%
1.7%
2022
n/a
Government expenditure, % of GDP
33.2%
2024
14.6%
2024
Consumer prices inflation
3.2%
2023-2024
2.39%
2023-2024
Central bank interest rate
9.75%
2025
n/a
Unemployment rate
6.79%
2022
2.74%
2024
Population
36941128
6125852

Spending and national debt comparison by year

Mozambique
Spending

Debt
Singapore
Spending

Debt
1x
Year % of GDP
Mozambique Singapore
Government spending Government debt Government spending Government debt
2024 33.2% 93.2% 14.6% 173.5%
2023 33.3% 90.9% 14.8% 172.8%
2022 32.9% 100.3% 15% 154.3%
2021 32.1% 104.3% 15.6% 141.7%
2020 33.9% 120% 24.1% 148.2%
2019 28% 98.3% 14% 127.9%
2018 32.9% 105.5% 13.9% 109.4%
2017 29.5% 103.8% 13.6% 107.6%
2016 29.1% 124.8% 15.3% 106.3%
2015 32.2% 86% 14.4% 102.2%
2014 39.7% 63.4% 12.6% 97.7%
2013 31.7% 49.5% 10.9% 98.2%
2012 28.1% 36.7% 9.83% 106.7%
2011 28.9% 34.2% 9.66% 103.1%
2010 26.7% 38.6% 10.2% 98.7%
2009 25.7% 39.3% 15.9% 101.7%
2008 21.3% 32.8% 14% 97.9%
2007 20.9% 31.2% 9.01% 87.8%
2006 20.1% 40% 12.3% 86.5%
2005 17% 60.1% 12.4% 92.7%
2004 17.8% 50.8% 14.1% 95.7%
2003 18.6% 63.2% 15.6% 99.1%
2002 18.6% 63.4% 15.9% 96.3%
2001 20.8% 99.8% 18.2% 94.5%
2000 17.2% 95.8% 16.1% 82.3%
1999 15.6% 94.7% 15.9% 85.3%
1998 14.9% - 18.1% 84.6%
1997 16.5% - 14.5% 70.8%
1996 14.9% - 18.1% 71.3%
1995 18.8% - 13.8% 69.8%
1994 22.9% - 11.7% 70.7%
1993 20.7% - 14.5% 71.2%
1992 21.1% - 14.5% 79%
1991 17.3% - 15.9% 76.4%
1990 21% - 15.1% 73.5%
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/singapore | CC BY

In 2024, Mozambique's government spending was $7.56B, accounting for 33.2% of its GDP, while Singapore spent $79.7B, or 14.6% of GDP.

Debt-to-GDP ratio is 93.2% in Mozambique and 173.5% in Singapore, ranking 28/185 and 4/185, respectively.

Government deficit by year

Deficit/surplus
Mozambique

Singapore
1x
Year Deficit/surplus, % of GDP
Mozambique Singapore
2024 -6.17% 4.44%
2023 -4.26% 3.47%
2022 -5.22% 1.21%
2021 -5.23% 1.13%
2020 -6.19% -6.73%
2019 1.7% 3.77%
2018 -7.39% 3.68%
2017 -2.9% 5.24%
2016 -5.42% 3.25%
2015 -6.55% 2.86%
2014 -9.75% 4.6%
2013 -2.46% 5.96%
2012 -3.45% 7.34%
2011 -4.34% 7.96%
2010 -3.5% 5.68%
2009 -4.35% -0.09%
2008 -1.9% 3.59%
2007 -2.19% 7.12%
2006 -3.03% 2.16%
2005 -2.06% 2.56%
2004 -3.17% 2.06%
2003 -2.64% 0.68%
2002 -3.36% 2.23%
2001 -4.43% 1.2%
2000 -1.26% 4.59%
1999 -0.31% 5.2%
1998 -1.08% 2.41%
1997 -1.81% 5.66%
1996 -2.07% 1.98%
1995 -2.46% 4.8%
1994 -4% 7.9%
1993 -2.53% 4.36%
1992 -1.85% 2.7%
1991 -2.01% 0.68%
1990 -4.42% 1.97%
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/singapore | 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 Singapore's surplus of $24.3B, or 4.44% of GDP.

Over the past 34 years, Mozambique recorded a fiscal deficit in 33 of those years, while Singapore ran a deficit in 2 years. On average, Mozambique posted an annual deficit equal to 3.46% of GDP, compared to surplus of 3.4% of GDP for Singapore.

Inflation comparison by year

Inflation
Mozambique

Singapore
1x
Year Consumer prices inflation
Mozambique Singapore
2024 3.2% 2.39%
2023 7% 4.83%
2022 10.4% 6.13%
2021 6.6% 2.32%
2020 0.9% -0.17%
2019 5.7% 0.57%
2018 3.2% 0.44%
2017 15.8% 0.58%
2016 18.4% -0.53%
2015 3.6% -0.52%
2014 2.6% 1.03%
2013 4.3% 2.36%
2012 2.6% 4.58%
2011 11.2% 5.25%
2010 12.4% 2.83%
2009 3.8% 0.59%
2008 14.5% 6.64%
2007 10.4% 2.11%
2006 13.2% 0.97%
2005 6.4% 0.43%
2004 12.6% 1.66%
2003 13.5% 0.51%
2002 16.8% -0.39%
2001 9.1% 1%
2000 12.7% 1.36%
1999 2.9% 0.02%
1998 1.5% -0.27%
1997 7.4% 2%

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/mozambique/singapore | CC BY

Over the past 28 years, Mozambique has recorded an average annual inflation rate of 8.31%, compared with 1.74% in Singapore. In 2024, inflation was 3.2% in Mozambique and 2.39% in Singapore.

Top exports between countries

Mozambique
Export category Export value
Raw materials & minerals $370M
Metals $342M
Processed food, beverages & tobacco $3.86M
Textiles & consumer goods $119K
Raw agricultural goods $111K
Precious metals & jewellery $64K
Animal & marine products $58K
Chemicals & pharma $23K
Machinery & equipment $15K
Weapons & explosives $4K
Singapore
Export category Export value
Raw materials & minerals $25.8M
Machinery & equipment $8.18M
Chemicals & pharma $2.8M
Raw agricultural goods $1.25M
Processed food, beverages & tobacco $874K
Miscellaneous $617K
Metals $453K
Textiles & consumer goods $63K
Precious metals & jewellery $10K
Wood & paper products $1K

Balance of trade

Mozambique Singapore
Current account balance
-$2.49B
2024
$96B
2024
Current account balance ranking
150/190
2024
8/190
2024
Current account balance, % of GDP
-11%
2024
+17.5%
2024
Goods imports
$8.38B
2024
$435B
2024
Goods exports
$8.21B
2024
$583B
2024
Service imports
$2.11B
2024
$351B
2024
Service exports
$1.15B
2024
$396B
2024
Imports of goods and services, % of GDP
52.8%
2024
143.6%
2024
Exports of goods and services, % of GDP
42.8%
2024
178.8%
2024

Economic freedom indices

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

Mozambique Singapore
Economic freedom 49.6 84.4
Economic freedom ranking 164/197 1/197
Property rights 29.7 89.2
Government integrity 25.1 86.1
Judicial effectiveness 43.4 58.3
Tax burden 75.8 89.5
Government spending 67 93.4
Fiscal health 39.1 80
Business freedom 40.2 90.6
Labor freedom 47.7 77
Monetary freedom 76.2 83.5
Trade freedom 71.2 95
Investment freedom 40 90
Financial freedom 40 80

Economic freedom comparison by year

Mozambique
Singapore
1x
Year Economic freedom index
Mozambique Singapore
2026 49.6 84.4
2025 50.7 84.1
2024 50.7 83.5
2023 52.5 83.9
2022 51.3 84.4
2021 51.6 89.7
2020 50.5 89.4
2019 48.6 89.4
2018 46.3 88.8
2017 49.9 88.6
2016 53.2 87.8
2015 54.8 89.4
2014 55 89.4
2013 55 88
2012 57.1 87.5
2011 56.8 87.2
2010 56 86.1
2009 55.7 87.1
2008 55.4 87.3
2007 54.7 87.1
2006 51.9 88
2005 54.6 88.6
2004 57.2 88.9
2003 58.6 88.2
2002 57.7 87.4
2001 59.2 87.8
2000 52.2 87.7
1999 48.9 86.9
1998 43 87
1997 44 87.3
1996 48.4 86.5
1995 45.5 86.3

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

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

The Economic Freedom Index for Mozambique is 49.6, ranking 164/197, compared to 84.4 for Singapore, ranking 1/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Mozambique Singapore
Services, % of GDP
41.1%
2024
73%
2024
Industry, % of GDP
21.9%
2024
21.4%
2024
Agriculture, forestry, and fishing, % of GDP
25.2%
2024
0.03%
2024
GNI, Atlas method
$19.1B
2024
$451B
2024
GNI per capita, PPP
$1,520
2024
$126,190
2024
Total reserves including gold
$3.84B
2024
$384B
2024
Total reserves ranking
108/177
2024
9/177
2024
Net foreign direct investment
-$3.55B
2024
-$96.7B
2024
Net inflows of foreign direct investment
$3.51B
2024
$152B
2024
Net outflows of foreign direct investment
-$44.1M
2024
$55.3B
2024
Servicing debt to the IMF, % of GNI
22.4%
2024
n/a
Poverty at national poverty lines
65%
2022
n/a
Gross capital formation, % of GDP
17.7%
2024
22.2%
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/singapore | 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. TradeMap (2020–2024, 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.