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Economy of Qatar vs Seychelles compared: GDP & Debt

Updated on by Georank team

Qatar has a GDP of $219B compared to $2.17B for the Seychelles, ranking 56/197 and 178/197 by economy size, respectively.

Qatar has $90.2B in government debt (41.2% of GDP), compared to $1.25B (57.6% of GDP) in the Seychelles.

Qatar vs Seychelles GDP by year

Qatar
Seychelles
1x
Year GDP, current $
Qatar Seychelles
2024 $219,162,637,363 $2,167,239,562
2023 $217,308,516,484 $2,187,379,755
2022 $235,709,340,659 $2,018,346,589
2021 $179,732,142,857 $1,487,173,795
2020 $144,411,538,462 $1,382,551,752
2019 $176,371,428,571 $1,868,690,097
2018 $183,335,164,835 $1,784,313,927
2017 $161,099,175,824 $1,675,370,641
2016 $151,732,142,857 $1,568,513,348
2015 $161,739,835,165 $1,432,403,352
2014 $206,224,725,275 $1,387,577,870
2013 $198,727,747,253 $1,333,160,407
2012 $186,833,516,484 $1,089,407,839
2011 $167,775,274,725 $1,058,918,707
2010 $123,627,197,802 $981,616,542
2009 $97,798,351,648 $850,901,620
2008 $115,270,054,945 $979,597,394
2007 $79,712,087,912 $1,077,308,814
2006 $60,882,142,857 $1,081,441,283
2005 $44,530,494,505 $977,899,382
2004 $31,734,065,934 $893,012,218
2003 $23,533,791,209 $750,847,230
2002 $19,363,736,264 $742,134,838
2001 $17,538,461,538 $662,064,156
2000 $17,759,890,110 $654,212,394
1999 $12,393,131,868 $662,838,615
1998 $10,255,495,027 $647,287,376
1997 $11,297,802,115 $598,966,982
1996 $9,059,340,385 $535,250,347
1995 $8,137,911,978 $540,733,048
1994 $7,374,450,769 $517,570,058
1993 $7,156,593,654 $504,230,621
1992 $7,646,153,984 $461,409,399
1991 $6,883,516,484 $398,307,170
1990 $7,360,439,423 $392,163,561
1989 $6,487,912,088 $324,333,367
1988 $6,038,187,033 $301,985,618
1987 $5,446,428,681 $265,212,957
1986 $5,053,021,951 $221,147,061
1985 $6,153,296,456 $179,691,483
1984 $6,704,395,824 $160,992,921
1983 $6,467,582,308 $156,098,237
1982 $7,596,703,214 $157,211,790
1981 $8,661,263,764 $163,750,728
1980 $7,829,165,262 $156,783,830
1979 $5,632,962,997 $127,261,099
1978 $4,052,000,413 $85,552,366
1977 $3,617,564,638 $64,526,401
1976 $3,284,273,987 $49,278,982
1975 $2,512,773,166 $47,803,146
1974 $2,401,403,227 $43,134,496
1973 $793,885,560 $36,896,280
1972 $510,262,500 $30,645,123
1971 $387,703,106 $21,965,951
1970 $301,791,302 $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 (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Qatar vs Seychelles by year

Qatar
GDP per capita

GDP per capita, PPP
Seychelles
GDP per capita

GDP per capita, PPP
1x
Year Current $
Qatar Seychelles
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $76,689 $126,046 $17,859 $33,239
2023 $81,817 $129,368 $18,263 $31,781
2022 $88,701 $122,921 $16,837 $29,973
2021 $71,752 $116,833 $14,983 $29,980
2020 $51,684 $82,149 $14,041 $31,056
2019 $66,841 $107,503 $19,142 $34,219
2018 $71,040 $110,033 $18,440 $32,091
2017 $63,280 $99,358 $17,480 $30,675
2016 $61,254 $89,935 $16,567 $28,811
2015 $68,985 $102,546 $15,333 $25,435
2014 $95,841 $148,389 $15,188 $24,985
2013 $103,697 $169,203 $14,821 $22,487
2012 $108,470 $180,939 $12,337 $22,264
2011 $103,262 $174,620 $12,110 $21,781
2010 $76,463 $151,646 $10,935 $18,982
2009 $60,786 $125,898 $9,747 $18,453
2008 $80,781 $126,015 $11,265 $18,881
2007 $65,954 $124,056 $12,669 $19,473
2006 $62,582 $127,181 $12,783 $17,503
2005 $53,950 $115,250 $11,802 $15,846
2004 $41,036 $110,958 $10,828 $14,160
2003 $31,602 $94,120 $9,070 $14,142
2002 $27,227 $93,177 $8,864 $14,570
2001 $25,871 $89,805 $8,153 $14,615
2000 $27,535 $88,849 $8,064 $14,638
1999 $20,234 $84,690 $8,243 $13,853
1998 $17,665 $84,486 $8,210 $13,675
1997 $20,523 $79,219 $7,747 $13,458
1996 $17,125 $62,331 $7,004 $11,931
1995 $15,823 $60,321 $7,181 $10,809
1994 $14,765 $59,415 $6,975 $10,692
1993 $14,770 $59,125 $6,979 $11,020
1992 $16,280 $60,387 $6,520 $10,243
1991 $15,133 $54,759 $5,655 $9,387
1990 $16,722 $55,659 $5,642 $8,955
1989 $15,243 - $4,689 -
1988 $14,682 - $4,392 -
1987 $13,719 - $3,872 -
1986 $13,213 - $3,368 -
1985 $16,815 - $2,754 -
1984 $19,272 - $2,488 -
1983 $19,616 - $2,426 -
1982 $24,385 - $2,441 -
1981 $29,505 - $2,557 -
1980 $28,375 - $2,478 -
1979 $21,777 - $2,030 -
1978 $16,757 - $1,377 -
1977 $16,058 - $1,044 -
1976 $15,710 - $814 -
1975 $13,014 - $806 -
1974 $13,540 - $745 -
1973 $4,905 - $649 -
1972 $3,483 - $547 -
1971 $2,952 - $402 -
1970 $2,594 - $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 (1960–2024, retrieved 2026-04-06).

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

Qatar's GDP per capita is $76,689, ranking 11/197, compared to $17,859 in the Seychelles, ranking 63/197. Adjusted for purchasing power (GDP per capita PPP), Qatar ranks 5th at $126,046, while the Seychelles ranks 67th at $33,239.

Economic indicators

Qatar Seychelles
Gross domestic product
$219B
2024
$2.17B
2024
GDP rank
56/197
2024
178/197
2024
GDP growth
2.36%
2023-2024
3.47%
2023-2024
GDP per capita
$76,689
2024
$17,859
2024
GDP per capita rank
11/197
2024
63/197
2024
GDP per capita, PPP
$126,046
2024
$33,239
2024
GDP per capita PPP rank
5/197
2024
67/197
2024
Government debt
$90.2B
2024
$1.25B
2024
Debt-to-GDP ratio
41.2%
2024
57.6%
2024
Government debt per person
$31,579
2024
$10,288
2024
Government debt per person rank
23/185
2024
57/185
2024
Average annual personal income after taxes
$35,660
2026
$10,944
2026
Market capitalization of domestic companies
$170M
2024
$811M
2024
Number of millionaires
26,163
2025
n/a
Number of billionaires
2
2025
n/a
Income share by richest 10%
25.8%
2017
23.9%
2018
Income share by poorest 10%
2.6%
2017
2.6%
2018
Government expenditure, % of GDP
26%
2024
33.8%
2024
Consumer prices inflation
1.27%
2023-2024
0.31%
2023-2024
Central bank interest rate
4.1%
2025
1.75%
2024
Unemployment rate
0.13%
2022
2.59%
2024
Population
2999260
126311

Spending and national debt comparison by year

Qatar
Spending

Debt
Seychelles
Spending

Debt
1x
Year % of GDP
Qatar Seychelles
Government spending Government debt Government spending Government debt
2024 26% 41.2% 33.8% 57.6%
2023 27.3% 43.7% 32.9% 55.3%
2022 24.3% 42.6% 31.3% 60%
2021 29.4% 58.4% 38.8% 71%
2020 34.7% 72.6% 46.7% 77.4%
2019 32.5% 62.1% 31.7% 48.9%
2018 28.9% 52.2% 33% 51.3%
2017 34.7% 51.6% 34.3% 56.7%
2016 40.1% 46.7% 34.5% 62.8%
2015 38.6% 35.5% 31.5% 64.7%
2014 32.3% 24.9% 33.4% 70.4%
2013 28.3% 30.9% 37.8% 68.2%
2012 31% 32.1% 38.6% 80.1%
2011 28.5% 33.5% 36.4% 82.5%
2010 32% 30.4% 34.6% 82.2%
2009 36.4% 36% 32.1% 106.1%
2008 23.5% 11.4% 27% 192.1%
2007 29.5% 9.37% 41.9% 144%
2006 29.5% 13.9% 43.6% 135.1%
2005 29% 19.1% 39% 144.1%
2004 29.9% 30.1% 39.9% 163.2%
2003 28.5% 38.8% 44.6% 177%
2002 31.6% 47.7% 56.3% 195.9%
2001 32.1% 59.2% 46.8% 199.8%
2000 29.8% 51.6% 55.4% 177.8%
1999 42.4% 81.8% 56.1% 159.8%
1998 55.1% 76.6% 60.7% 161.2%
1997 47.6% 54.4% 54.7% 143%
1996 55.2% 57.8% 59.1% 146.7%
1995 52.2% 50.2% 53.1% 133.5%
1994 59.8% 54.8% 63.6% 123.5%
1993 62.8% 46.3% 60.4% 82.2%
1992 54.2% 19.9% 50.7% 79.9%
1991 57.5% 21.8% 52.1% 89.2%
1990 50% 12.6% 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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1983–1989, retrieved 2026-02-20).

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

In 2024, Qatar's government spending was $56.9B, accounting for 26% of its GDP, while the Seychelles spent $732M, or 33.8% of GDP.

Debt-to-GDP ratio is 41.2% in Qatar and 57.6% in the Seychelles, ranking 130/185 and 85/185, respectively.

Government deficit by year

Deficit/surplus
Qatar

Seychelles
1x
Year Deficit/surplus, % of GDP
Qatar Seychelles
2024 0.69% -0.69%
2023 5.56% -1.14%
2022 10.4% -0.76%
2021 0.24% -5.76%
2020 -2.13% -15.7%
2019 1% 0.42%
2018 2.26% -0.8%
2017 -6.82% -1.67%
2016 -9.2% 0.02%
2015 18.4% 1.39%
2014 13.4% 2.87%
2013 19.3% 0.33%
2012 8.55% 2.93%
2011 5.24% 3.36%
2010 4.6% 0.52%
2009 14.1% 4.84%
2008 9.49% 7.88%
2007 10.3% -9.93%
2006 8.39% -2.54%
2005 9.8% 0.42%
2004 17.7% 0.44%
2003 6.71% 3.4%
2002 7.89% -16.3%
2001 4.48% -8.93%
2000 4.62% -14.7%
1999 -4.35% -10.3%
1998 -7% -16.7%
1997 -9.4% -5.91%
1996 -8.73% -9.69%
1995 -5.78% -2.58%
1994 -11.8% -6.95%
1993 -9.53% -3.62%
1992 -2.74% 6.44%
1991 -2.57% 3.15%
1990 3.23% 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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1983–1989, retrieved 2026-02-20).

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

In 2024, Qatar's government surplus, the difference between spending and revenue, was $1.52B, equivalent to 0.69% of GDP. This compares to the Seychelles' deficit of $15M, or 0.69% of GDP.

Over the past 35 years, Qatar recorded a fiscal deficit in 12 of those years, while the Seychelles ran a deficit in 19 years. On average, Qatar posted an annual surplus equal to 3.04% of GDP, compared to deficit of 2.41% of GDP for the Seychelles.

Inflation comparison by year

Inflation
Qatar

Seychelles
1x
Year Consumer prices inflation
Qatar Seychelles
2024 1.27% 0.31%
2023 3.03% -1.04%
2022 5% 2.63%
2021 2.3% 9.77%
2020 -2.54% 1.2%
2019 -0.67% 1.81%
2018 0.26% 3.7%
2017 0.39% 2.86%
2016 2.68% -1.02%
2015 1.81% 4.04%
2014 3.35% 1.39%
2013 3.22% 4.34%
2012 2.32% 7.11%
2011 1.14% 2.56%
2010 -2.43% -2.4%
2009 -4.86% 31.8%
2008 15.1% 37%
2007 13.8% 5.32%
2006 11.8% -0.35%
2005 8.81% 0.91%
2004 6.8% 3.86%
2003 2.26% 3.3%
2002 0.24% 0.18%
2001 1.47% 5.97%
2000 1.65% 6.27%
1999 2.18% 6.35%
1998 2.95% 2.58%
1997 4.83% 0.62%

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

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

Over the past 28 years, Qatar has recorded an average annual inflation rate of 3.15%, compared with 5.03% in the Seychelles. In 2024, inflation was 1.27% in Qatar and 0.31% in the Seychelles.

Top exports between countries

Qatar
Export category Export value
Machinery & equipment $1M
Metals $118K
Processed food, beverages & tobacco $56K
Chemicals & pharma $34K
Textiles & consumer goods $25K
Seychelles
Export category Export value
Processed food, beverages & tobacco $43K
Raw materials & minerals $18K
Machinery & equipment $6K
Metals $5K
Animal & marine products $3K
Wood & paper products $1K

Balance of trade

Qatar Seychelles
Current account balance
$37.9B
2024
-$176M
2024
Current account balance ranking
16/190
2024
97/190
2024
Current account balance, % of GDP
+17.3%
2024
-8.11%
2024
Goods imports
$32.6B
2024
$1.39B
2024
Goods exports
$95B
2024
$595M
2024
Service imports
$37.1B
2024
$1B
2024
Service exports
$30.2B
2024
$1.71B
2024
Imports of goods and services, % of GDP
31.6%
2022
103.2%
2024
Exports of goods and services, % of GDP
68.6%
2022
85.2%
2024

Economic freedom indices

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

Qatar Seychelles
Economic freedom 70.2 66.5
Economic freedom ranking 37/197 60/197
Property rights 66.2 82.6
Government integrity 53.5 71.7
Judicial effectiveness 41.5 61.7
Tax burden 99.9 77.3
Government spending 79.9 68
Fiscal health 96.6 92.2
Business freedom 68 71.3
Labor freedom 58.5 52
Monetary freedom 76 79.8
Trade freedom 81.8 81.2
Investment freedom 60 30
Financial freedom 60 30

Economic freedom comparison by year

Qatar
Seychelles
1x
Year Economic freedom index
Qatar Seychelles
2026 70.2 66.5
2025 70.2 66.4
2024 68.8 60.4
2023 68.6 59.5
2022 67.7 61.1
2021 72 66.3
2020 72.3 64.3
2019 72.6 61.4
2018 72.6 61.6
2017 73.1 61.8
2016 70.7 62.2
2015 70.8 57.5
2014 71.2 56.2
2013 71.3 54.9
2012 71.3 53
2011 70.5 51.2
2010 69 47.9
2009 65.8 47.8
2008 62.2 -
2007 62.9 -
2006 62.4 -
2005 63.5 -
2004 66.5 -
2003 65.9 -
2002 61.9 -
2001 60 -
2000 62 -
1999 62 -

Data sources: The Heritage Foundation | Economic Freedom Index (1999–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Qatar is 70.2, ranking 37/197, 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

Qatar Seychelles
Services, % of GDP
46.1%
2024
65.8%
2024
Industry, % of GDP
58.2%
2024
12.3%
2024
Agriculture, forestry, and fishing, % of GDP
0.29%
2024
2.45%
2024
GNI, Atlas method
$221B
2024
$2.12B
2024
GNI per capita, PPP
$121,900
2024
$32,180
2024
Total reserves including gold
$54B
2024
$774M
2024
Total reserves ranking
40/177
2024
145/177
2024
Net foreign direct investment
$1.1B
2024
-$262M
2024
Net inflows of foreign direct investment
$460M
2024
$226M
2024
Net outflows of foreign direct investment
$1.56B
2024
-$35.4M
2024
Poverty at national poverty lines n/a
25.3%
2018
Gross capital formation, % of GDP
30.6%
2022
17.2%
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/qatar/seychelles | 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 (1999–2026, 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 (1983–1989, 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.

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.