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Economy of Senegal vs Sri Lanka compared: GDP & Debt

Updated on by Georank team

Senegal has a GDP of $32.8B compared to $99B for Sri Lanka, ranking 109/197 and 72/197 by economy size, respectively.

Senegal has $42.1B in government debt (128.4% of GDP), compared to $99.8B (100.8% of GDP) in Sri Lanka.

Senegal vs Sri Lanka GDP by year

Senegal
Sri Lanka
1x
Year GDP, current $
Senegal Sri Lanka
2024 $32,808,056,601 $98,963,185,510
2023 $30,696,331,296 $83,716,142,582
2022 $27,783,332,223 $74,143,020,263
2021 $27,520,784,130 $88,556,698,938
2020 $24,530,513,038 $84,335,574,582
2019 $23,403,995,992 $88,998,706,297
2018 $23,116,701,556 $94,450,015,983
2017 $20,996,562,944 $94,369,350,286
2016 $19,040,312,333 $88,000,211,172
2015 $17,774,766,696 $85,090,301,052
2014 $19,797,253,440 $82,531,125,191
2013 $18,918,667,725 $76,976,203,829
2012 $17,660,870,412 $70,447,217,164
2011 $17,814,283,639 $67,753,285,897
2010 $16,121,315,909 $58,636,049,434
2009 $16,145,867,495 $42,066,224,093
2008 $16,853,989,628 $40,713,826,215
2007 $13,994,218,413 $32,350,238,760
2006 $11,697,918,243 $28,267,410,543
2005 $11,009,033,438 $24,405,791,045
2004 $10,076,816,667 $20,662,525,941
2003 $8,768,721,563 $18,881,765,437
2002 $7,006,402,320 $16,536,535,647
2001 $6,507,824,829 $15,749,753,805
2000 $6,013,185,004 $16,595,882,819
1999 $6,592,834,933 $15,711,933,513
1998 $6,505,607,909 $15,760,736,956
1997 $6,041,478,726 $15,091,913,884
1996 $6,559,712,166 $13,897,738,375
1995 $6,326,342,633 $13,029,697,561
1994 $5,034,588,196 $11,717,604,209
1993 $7,367,986,241 $10,338,679,636
1992 $7,769,817,840 $9,703,011,636
1991 $7,255,210,470 $9,000,362,582
1990 $7,390,967,360 $8,032,551,173
1989 $6,366,039,373 $6,987,267,684
1988 $6,418,419,389 $6,978,371,581
1987 $6,487,353,103 $6,682,167,120
1986 $5,392,093,446 $6,405,210,564
1985 $3,818,944,918 $5,978,460,972
1984 $3,485,165,432 $6,043,474,843
1983 $3,569,356,125 $5,167,913,302
1982 $4,013,951,443 $4,768,765,017
1981 $4,095,892,781 $4,415,844,156
1980 $4,510,108,291 $4,024,621,900
1979 $4,084,877,823 $3,364,611,432
1978 $3,280,354,921 $2,733,183,857
1977 $2,938,046,463 $4,104,509,583
1976 $2,869,777,884 $3,591,319,857
1975 $2,830,388,405 $3,791,298,146
1974 $2,099,325,229 $3,574,586,466
1973 $1,863,398,590 $2,875,625,000
1972 $1,620,857,104 $2,553,936,348
1971 $1,339,549,033 $2,369,308,600
1970 $1,297,407,655 $2,296,470,588
1969 $1,245,234,931 $1,965,546,218
1968 $1,309,384,862 $1,801,344,538
1967 $1,246,480,766 $1,859,465,021
1966 $1,246,908,186 $1,751,470,588
1965 $1,210,058,228 $1,698,319,328
1964 $1,188,930,645 $1,309,747,899
1963 $1,122,139,862 $1,240,672,269
1962 $1,085,475,791 $1,434,156,379
1961 $1,058,975,257 $1,444,327,731
1960 $1,003,692,370 $1,409,873,950

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

GeoRank.org/economy/senegal/sri-lanka | CC BY

GDP per capita in Senegal vs Sri Lanka by year

Senegal
GDP per capita

GDP per capita, PPP
Sri Lanka
GDP per capita

GDP per capita, PPP
1x
Year Current $
Senegal Sri Lanka
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,773 $5,071 $4,516 $15,633
2023 $1,698 $4,778 $3,799 $14,456
2022 $1,574 $4,530 $3,343 $14,194
2021 $1,598 $4,174 $3,997 $14,316
2020 $1,461 $3,753 $3,848 $12,941
2019 $1,431 $3,648 $4,082 $14,113
2018 $1,453 $3,380 $4,359 $14,178
2017 $1,357 $3,234 $4,399 $13,610
2016 $1,266 $3,101 $4,149 $13,079
2015 $1,218 $2,994 $4,058 $12,227
2014 $1,399 $2,854 $3,972 $11,721
2013 $1,380 $2,769 $3,739 $11,253
2012 $1,327 $2,764 $3,328 $10,249
2011 $1,375 $2,685 $3,225 $9,076
2010 $1,276 $2,663 $2,808 $8,234
2009 $1,309 $2,606 $2,027 $7,576
2008 $1,399 $2,581 $1,974 $7,317
2007 $1,189 $2,499 $1,579 $6,820
2006 $1,017 $2,422 $1,389 $6,261
2005 $980 $2,350 $1,207 $5,679
2004 $918 $2,236 $1,029 $5,216
2003 $818 $2,131 $946 $4,850
2002 $669 $2,027 $835 $4,522
2001 $637 $2,044 $804 $4,328
2000 $603 $1,963 $860 $4,368
1999 $678 $1,893 $829 $4,103
1998 $685 $1,798 $848 $3,952
1997 $651 $1,719 $827 $3,804
1996 $723 $1,679 $776 $3,582
1995 $715 $1,656 $742 $3,454
1994 $584 $1,578 $678 $3,260
1993 $878 $1,588 $607 $3,067
1992 $951 $1,573 $580 $2,851
1991 $913 $1,561 $546 $2,713
1990 $957 $1,513 $491 $2,527
1989 $849 - $430 -
1988 $880 - $434 -
1987 $916 - $420 -
1986 $784 - $407 -
1985 $571 - $385 -
1984 $536 - $391 -
1983 $564 - $336 -
1982 $652 - $312 -
1981 $683 - $292.5 -
1980 $772 - $271.1 -
1979 $716 - $230.8 -
1978 $589 - $191 -
1977 $540 - $292.1 -
1976 $541 - $260.3 -
1975 $547 - $279.8 -
1974 $417 - $268.7 -
1973 $381 - $220.2 -
1972 $342 - $199.4 -
1971 $291.1 - $188.8 -
1970 $290.5 - $186.9 -
1969 $287.3 - $163.6 -
1968 $311 - $153.5 -
1967 $305 - $162.3 -
1966 $315 - $156.6 -
1965 $314 - $155.6 -
1964 $318 - $122.9 -
1963 $309 - $119.4 -
1962 $307 - $141.4 -
1961 $308 - $145.9 -
1960 $300 - $145.9 -

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

GeoRank.org/economy/senegal/sri-lanka | CC BY

Senegal's GDP per capita is $1,773, ranking 159/197, compared to $4,516 in Sri Lanka, ranking 124/197. Adjusted for purchasing power (GDP per capita PPP), Senegal ranks 158th at $5,071, while Sri Lanka ranks 111th at $15,633.

Economic indicators

Senegal Sri Lanka
Gross domestic product
$32.8B
2024
$99B
2024
GDP rank
109/197
2024
72/197
2024
GDP growth
6.06%
2023-2024
5.01%
2023-2024
GDP per capita
$1,773
2024
$4,516
2024
GDP per capita rank
159/197
2024
124/197
2024
GDP per capita, PPP
$5,071
2024
$15,633
2024
GDP per capita PPP rank
158/197
2024
111/197
2024
Government debt
$42.1B
2024
$99.8B
2024
Debt-to-GDP ratio
128.4%
2024
100.8%
2024
Government debt per person
$2,277
2024
$4,554
2024
Government debt per person rank
115/185
2024
85/185
2024
Average annual personal income after taxes
$2,194
2026
$2,874
2026
Market capitalization of domestic companies n/a
$19.5B
2024
Income share by richest 10%
28.8%
2021
30.8%
2019
Income share by poorest 10%
3%
2021
3.1%
2019
Government expenditure, % of GDP
33.5%
2024
19.3%
2024
Consumer prices inflation
0.8%
2023-2024
-0.43%
2023-2024
Central bank interest rate n/a
7.75%
2025
Unemployment rate
5.78%
2024
4.67%
2023
Population
19491599
22185425

Spending and national debt comparison by year

Senegal
Spending

Debt
Sri Lanka
Spending

Debt
1x
Year % of GDP
Senegal Sri Lanka
Government spending Government debt Government spending Government debt
2024 33.5% 128.4% 19.3% 100.8%
2023 35.5% 118.4% 19.5% 110.4%
2022 36.2% 105% 18.6% 115.9%
2021 33.6% 98.6% 20% 102.7%
2020 29.6% 90.2% 22.1% 96.9%
2019 34.3% 81.5% 19.5% 82.6%
2018 22.6% 61.5% 17.5% 83.6%
2017 22.5% 61.1% 17.9% 72.3%
2016 24% 47.5% 18.2% 75%
2015 22.9% 44.5% 19.3% 76.3%
2014 23.1% 42.4% 17.2% 69.6%
2013 22.1% 36.9% 16.6% 69.5%
2012 23% 34.5% 17.3% 67.5%
2011 23.3% 32.9% 19.1% 69.4%
2010 21.7% 34.6% 19.3% 68.7%
2009 21.1% 29.9% 21% 72.8%
2008 20.9% 19.1% 19.1% 68.8%
2007 22.2% 19% 19.9% 71.8%
2006 21.3% 17.5% 20.5% 74.3%
2005 18.7% 36.1% 20.1% 76.6%
2004 18.1% 38% 19.3% 86.5%
2003 17.1% 42.9% 19.3% 86.5%
2002 15.5% 52% 20.8% 96.3%
2001 15.7% 53.2% 22.4% 84.4%
2000 14% 57.5% 21.7% 79.2%
1999 14.6% 15% 20.5% 77.7%
1998 13.5% 18.8% 21.4% 74.2%
1997 14.1% 67.8% 21.4% 70.1%
1996 15.4% 0.07% 23.1% 76.2%
1995 14.4% 65.3% 24.8% 77.8%
1994 15.9% 77.3% 24.1% 77.9%
1993 - - 23.2% 79.2%
1992 - - 23% 77.9%
1991 - - 26.4% 80.5%
1990 - - 25.4% 78.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1994–1995, retrieved 2026-02-20).

GeoRank.org/economy/senegal/sri-lanka | CC BY

In 2024, Senegal's government spending was $11B, accounting for 33.5% of its GDP, while Sri Lanka spent $19.1B, or 19.3% of GDP.

Debt-to-GDP ratio is 128.4% in Senegal and 100.8% in Sri Lanka, ranking 11/185 and 23/185, respectively.

Government deficit by year

Deficit/surplus
Senegal

Sri Lanka
1x
Year Deficit/surplus, % of GDP
Senegal Sri Lanka
2024 -13.4% -5.64%
2023 -14.8% -8.32%
2022 -16.1% -10.2%
2021 -13.7% -11.7%
2020 -9.64% -13.4%
2019 -13.9% -7.52%
2018 -3.66% -4.96%
2017 -2.97% -5.1%
2016 -3.27% -5%
2015 -3.66% -6.64%
2014 -3.9% -5.99%
2013 -4.34% -5%
2012 -4.18% -5.44%
2011 -4.92% -6.01%
2010 -3.94% -6.73%
2009 -3.66% -8.33%
2008 -3.53% -5.93%
2007 -2.8% -5.81%
2006 -3.67% -5.91%
2005 -0.26% -5.93%
2004 0.18% -6.32%
2003 -0.52% -6.15%
2002 0.19% -6.9%
2001 -1.44% -8.48%
2000 0.78% -7.78%
1999 -0.62% -5.58%
1998 0.93% -6.79%
1997 0.98% -5.71%
1996 0.92% -6.89%
1995 2.41% -7.11%
1994 5.9% -7.41%
1993 - -5.77%
1992 - -4.95%
1991 - -7.97%
1990 - -6.39%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/senegal/sri-lanka | CC BY

In 2024, Senegal's government deficit, the difference between spending and revenue, was $4.4B, equivalent to 13.4% of GDP. This compares to Sri Lanka's deficit of $5.58B, or 5.64% of GDP.

Over the past 31 years, Senegal recorded a fiscal deficit in 23 of those years, while Sri Lanka ran a deficit in 31 years. On average, Senegal posted an annual deficit equal to 3.89% of GDP, compared to deficit of 6.92% of GDP for Sri Lanka.

Inflation comparison by year

Inflation
Senegal

Sri Lanka
1x
Year Consumer prices inflation
Senegal Sri Lanka
2024 0.8% -0.43%
2023 5.94% 16.5%
2022 9.7% 49.7%
2021 2.18% 7.01%
2020 2.54% 6.15%
2019 1.76% 3.53%
2018 0.46% 2.14%
2017 1.32% 7.7%
2016 0.84% 3.96%
2015 0.14% 3.77%
2014 -1.09% 3.18%
2013 0.71% 6.91%
2012 1.42% 7.54%
2011 3.4% 6.72%
2010 1.23% 6.22%
2009 -2.25% 3.46%
2008 7.35% 22.6%
2007 5.85% 15.8%
2006 2.11% 10%
2005 1.71% 11.6%
2004 0.51% 7.58%
2003 -0.05% 6.31%
2002 2.34% 9.55%
2001 2.97% 14.2%
2000 0.73% 6.18%
1999 0.83% 4.69%
1998 1.16% 9.36%
1997 1.75% 9.57%

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

GeoRank.org/economy/senegal/sri-lanka | CC BY

Over the past 28 years, Senegal has recorded an average annual inflation rate of 2.01%, compared with 9.34% in Sri Lanka. In 2024, inflation was 0.8% in Senegal and -0.43% in Sri Lanka.

Top exports between countries

Senegal
Export category Export value
Sri Lanka
Export category Export value
Raw materials & minerals $898K
Metals $709K
Textiles & consumer goods $619K
Raw agricultural goods $396K
Processed food, beverages & tobacco $258K
Chemicals & pharma $171K
Machinery & equipment $116K
Miscellaneous $19K
Wood & paper products $2K

Balance of trade

Senegal Sri Lanka
Current account balance
-$6.07B
2023
$1.21B
2024
Current account balance ranking
170/190
2023
53/190
2024
Current account balance, % of GDP
-19.8%
2023
+1.22%
2024
Goods imports
$10.8B
2023
$18.8B
2024
Goods exports
$5.52B
2023
$12.8B
2024
Service imports
$4.08B
2023
$3.48B
2024
Service exports
$1.48B
2023
$6.91B
2024
Imports of goods and services, % of GDP
43.4%
2024
22.5%
2024
Exports of goods and services, % of GDP
24.7%
2024
19.9%
2024

Economic freedom indices

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

Senegal Sri Lanka
Economic freedom 53.2 50.3
Economic freedom ranking 140/197 162/197
Property rights 57.4 47.3
Government integrity 47.3 37.3
Judicial effectiveness 50.5 47.2
Tax burden 68.8 77
Government spending 63.1 89
Fiscal health 0 0
Business freedom 55.2 60.1
Labor freedom 54.4 54.3
Monetary freedom 74.3 65.9
Trade freedom 67 65.6
Investment freedom 60 30
Financial freedom 40 30

Economic freedom comparison by year

Senegal
Sri Lanka
1x
Year Economic freedom index
Senegal Sri Lanka
2026 53.2 50.3
2025 56.4 49.4
2024 55.4 49.2
2023 57.7 52.2
2022 60 53.3
2021 58 55.7
2020 58 57.4
2019 56.3 56.4
2018 55.7 57.8
2017 55.9 57.4
2016 58.1 59.9
2015 57.8 58.6
2014 55.4 60
2013 55.5 60.7
2012 55.4 58.3
2011 55.7 57.1
2010 54.6 54.6
2009 56.3 56
2008 58.3 58.4
2007 58.1 59.4
2006 56.2 58.7
2005 57.9 61
2004 58.9 61.6
2003 58.1 62.5
2002 58.6 64
2001 58.7 66
2000 58.9 63.2
1999 60.6 64
1998 59.7 64.6
1997 58.1 65.5
1996 58.2 62.5
1995 - 60.6

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

GeoRank.org/economy/senegal/sri-lanka | CC BY

The Economic Freedom Index for Senegal is 53.2, ranking 140/197, compared to 50.3 for Sri Lanka, ranking 162/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Senegal Sri Lanka
Services, % of GDP
48.4%
2024
57.5%
2024
Industry, % of GDP
25%
2024
25.5%
2024
Agriculture, forestry, and fishing, % of GDP
16.6%
2024
8.3%
2024
GNI, Atlas method
$31.1B
2024
$84.6B
2024
GNI per capita, PPP
$4,920
2024
$15,240
2024
Total reserves including gold n/a
$6.09B
2024
Total reserves ranking n/a
92/177
2024
Net foreign direct investment
-$4.72B
2023
-$651M
2024
Net inflows of foreign direct investment
$2.02B
2024
$761M
2024
Net outflows of foreign direct investment
$48.1M
2024
$110M
2024
Servicing debt to the IMF, % of GNI
10.8%
2024
4.98%
2024
Poverty at national poverty lines
37.5%
2021
14.3%
2019
Gross capital formation, % of GDP
37.5%
2024
27%
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/senegal/sri-lanka | 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. TradeMap (2020–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1994–1995, retrieved 2026-02-20)
  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.