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Economy of Palestine vs Serbia compared: GDP & Debt

Updated on by Georank team

Palestine has a GDP of $13.7B compared to $90.1B for Serbia, ranking 146/197 and 76/197 by economy size, respectively.

Palestine vs Serbia GDP by year

Palestine
Serbia
1x
Year GDP, current $
Palestine Serbia
2024 $13,711,100,000 $90,097,765,959
2023 $17,847,900,000 $81,343,999,280
2022 $19,165,500,000 $66,809,895,701
2021 $18,109,000,000 $66,159,884,073
2020 $15,531,700,000 $55,874,017,669
2019 $17,133,500,000 $53,864,693,665
2018 $16,276,600,000 $52,787,520,249
2017 $16,128,000,000 $45,972,834,714
2016 $15,405,400,000 $42,225,495,910
2015 $13,972,400,000 $41,297,410,635
2014 $13,989,700,000 $49,114,321,280
2013 $13,515,500,000 $50,455,529,604
2012 $12,208,400,000 $45,103,269,969
2011 $11,186,100,000 $51,251,098,408
2010 $9,681,500,000 $43,536,629,233
2009 $8,085,700,000 $46,955,984,410
2008 $7,310,400,000 $54,220,641,202
2007 $5,815,700,000 $44,888,028,946
2006 $5,348,300,000 $33,298,057,362
2005 $5,125,700,000 $28,334,256,181
2004 $4,603,100,000 $26,845,632,342
2003 $3,968,000,000 $23,593,044,418
2002 $3,555,800,000 $17,930,583,571
2001 $4,003,700,000 $13,599,378,662
2000 $4,313,600,000 $7,326,373,882
1999 $4,271,200,000 $20,878,694,851
1998 $4,067,800,000 $21,004,077,441
1997 $3,759,800,000 $27,153,408,995
1996 $3,409,600,000 $23,277,430,168
1995 $3,282,800,000 $17,921,892,655
1994 $2,843,300,000 -

Data sources: World Bank | Economy & Growth (1994–2024, retrieved 2026-04-06).

GeoRank.org/economy/palestine/serbia | CC BY

GDP per capita in Palestine vs Serbia by year

Palestine
GDP per capita

GDP per capita, PPP
Serbia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Palestine Serbia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,592 $4,371 $13,679 $32,832
2023 $3,455 $5,950 $12,282 $29,777
2022 $3,800 $6,163 $10,025 $26,143
2021 $3,679 $5,663 $9,681 $23,406
2020 $3,234 $5,956 $8,099 $21,013
2019 $3,657 $6,508 $7,756 $20,587
2018 $3,562 $6,216 $7,560 $18,469
2017 $3,620 $6,107 $6,548 $17,285
2016 $3,528 $6,062 $5,982 $16,455
2015 $3,272 $5,770 $5,820 $15,546
2014 $3,352 $5,382 $6,887 $15,296
2013 $3,315 $5,288 $7,040 $15,247
2012 $3,067 $5,215 $6,263 $14,506
2011 $2,881 $4,495 $7,082 $14,298
2010 $2,557 $4,121 $5,971 $13,320
2009 $2,192 $3,950 $6,414 $13,038
2008 $2,035 $3,713 $7,377 $13,123
2007 $1,664 $3,486 $6,081 $11,685
2006 $1,570 $3,354 $4,493 $10,463
2005 $1,544 $3,372 $3,808 $9,398
2004 $1,422 $3,014 $3,597 $8,715
2003 $1,258 $2,469 $3,154 $8,023
2002 $1,156 $2,179 $2,391 $7,563
2001 $1,336 $2,515 $1,812 $6,803
2000 $1,476 $2,783 $975 $6,416
1999 $1,499 $3,052 $2,769 $5,897
1998 $1,465 $2,852 $2,775 $6,460
1997 $1,389 $2,530 $3,574 $6,040
1996 $1,317 $2,269 $3,054 $5,434
1995 $1,327 $2,302 $2,349 $5,022
1994 $1,202 $2,201 - -

Data sources: World Bank | Economy & Growth (1994–2024, retrieved 2026-04-06).

GeoRank.org/economy/palestine/serbia | CC BY

Palestine's GDP per capita is $2,592, ranking 147/197, compared to $13,679 in Serbia, ranking 73/197. Adjusted for purchasing power (GDP per capita PPP), Palestine ranks 164th at $4,371, while Serbia ranks 69th at $32,832.

Economic indicators

Palestine Serbia
Gross domestic product
$13.7B
2024
$90.1B
2024
GDP rank
146/197
2024
76/197
2024
GDP growth
-26.6%
2023-2024
3.95%
2023-2024
GDP per capita
$2,592
2024
$13,679
2024
GDP per capita rank
147/197
2024
73/197
2024
GDP per capita, PPP
$4,371
2024
$32,832
2024
GDP per capita PPP rank
164/197
2024
69/197
2024
Government debt n/a
$40.1B
2024
Debt-to-GDP ratio n/a
44.5%
2024
Government debt per person n/a
$6,084
2024
Government debt per person rank n/a
73/185
2024
Average annual personal income after taxes
$6,862
2026
$12,252
2026
Market capitalization of domestic companies
$4.08B
2024
$4.06B
2011
Income share by richest 10%
27.1%
2023
24.7%
2022
Income share by poorest 10%
2.5%
2023
2.4%
2022
Government expenditure, % of GDP
20%
2025
42.7%
2024
Consumer prices inflation
53.7%
2023-2024
4.67%
2023-2024
Central bank interest rate n/a
5.75%
2024
Unemployment rate
31.4%
2024
7.24%
2024
Population
5500288
6494521

Inflation comparison by year

Inflation
Palestine

Serbia
1x
Year Consumer prices inflation
Palestine Serbia
2024 53.7% 4.67%
2023 5.87% 12.4%
2022 3.74% 12%
2021 1.24% 4.09%
2020 -0.74% 1.58%
2019 1.58% 1.85%
2018 -0.2% 1.96%
2017 0.21% 3.13%
2016 -0.22% 1.12%
2015 1.43% 1.39%
2014 1.73% 2.08%
2013 1.72% 7.69%
2012 2.78% 7.33%
2011 2.88% 11.1%
2010 3.75% 6.14%
2009 2.75% 8.12%
2008 9.89% 12.4%
2007 1.86% 6.39%
2006 3.84% 11.7%
2005 4.11% 16.1%
2004 3% 11%
2003 4.4% 9.88%
2002 5.71% 19.5%
2001 1.22% 95%
2000 2.8% 71.1%
1999 5.54% 42.5%
1998 5.58% 30.2%
1997 7.09% 23.3%

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

GeoRank.org/economy/palestine/serbia | CC BY

Over the past 28 years, Palestine has recorded an average annual inflation rate of 4.9%, compared with 15.6% in Serbia. In 2024, inflation was 53.7% in Palestine and 4.67% in Serbia.

Top exports between countries

Palestine
Export category Export value
Serbia
Export category Export value
Animal & marine products $356K
Processed food, beverages & tobacco $333K
Wood & paper products $250K
Machinery & equipment $136K
Chemicals & pharma $85K
Textiles & consumer goods $54K
Metals $52K
Raw agricultural goods $44K
Raw materials & minerals $2K

Balance of trade

Palestine Serbia
Current account balance
-$2.9B
2024
-$4.1B
2024
Current account balance ranking
155/190
2024
162/190
2024
Current account balance, % of GDP
-21.1%
2024
-4.56%
2024
Goods imports
$6.87B
2024
$39.6B
2024
Goods exports
$2.37B
2024
$32.2B
2024
Service imports
$1.39B
2024
$12.6B
2024
Service exports
$514M
2024
$15.7B
2024
Imports of goods and services, % of GDP
60.3%
2024
58.1%
2024
Exports of goods and services, % of GDP
21%
2024
53.6%
2024

Economic freedom indices

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

Palestine Serbia
Economic freedom 30 65
Economic freedom ranking 192/197 68/197
Property rights n/a 57.2
Government integrity n/a 37.2
Judicial effectiveness n/a 50.1
Tax burden n/a 88
Government spending n/a 48.2
Fiscal health n/a 94.3
Business freedom n/a 73.6
Labor freedom n/a 61.8
Monetary freedom n/a 73
Trade freedom n/a 76.6
Investment freedom n/a 70
Financial freedom n/a 50

Other economic metrics

Palestine Serbia
Services, % of GDP
58.5%
2023
58.8%
2024
Industry, % of GDP
15.6%
2023
23.1%
2024
Agriculture, forestry, and fishing, % of GDP
5.7%
2023
3.17%
2024
GNI, Atlas method
$14.3B
2024
$76.5B
2024
GNI per capita, PPP
$4,660
2024
$30,770
2024
Total reserves including gold
$1.33B
2024
$30.5B
2024
Total reserves ranking
138/177
2024
55/177
2024
Net foreign direct investment
-$151M
2024
-$4.93B
2024
Net inflows of foreign direct investment
$162M
2024
$5.59B
2024
Net outflows of foreign direct investment
$10.7M
2024
$661M
2024
Servicing debt to the IMF, % of GNI n/a
12.2%
2024
Poverty at national poverty lines
29.2%
2016
19.7%
2023
Gross capital formation, % of GDP
23.5%
2024
25%
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/palestine/serbia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1985–2025, retrieved 2026-04-06)
  2. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  3. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-03-09)
  4. TradeMap (2020–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Fiscal Monitor (2024, 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.