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Economy of Senegal vs Zambia compared: GDP & Debt

Updated on by Georank team

Senegal has a GDP of $32.8B compared to $25.3B for Zambia, ranking 109/197 and 116/197 by economy size, respectively.

Senegal has $42.1B in government debt (128.4% of GDP), compared to $29.1B (114.9% of GDP) in Zambia.

Senegal vs Zambia GDP by year

Senegal
Zambia
1x
Year GDP, current $
Senegal Zambia
2024 $32,808,056,601 $25,303,185,342
2023 $30,696,331,296 $27,577,956,471
2022 $27,783,332,223 $29,163,782,140
2021 $27,520,784,130 $22,096,416,932
2020 $24,530,513,038 $18,137,764,931
2019 $23,403,995,992 $23,308,667,781
2018 $23,116,701,556 $26,311,507,274
2017 $20,996,562,944 $25,873,601,261
2016 $19,040,312,333 $20,958,412,538
2015 $17,774,766,696 $21,251,216,799
2014 $19,797,253,440 $27,141,023,558
2013 $18,918,667,725 $28,037,239,463
2012 $17,660,870,412 $25,503,060,420
2011 $17,814,283,639 $23,459,515,276
2010 $16,121,315,909 $20,265,559,484
2009 $16,145,867,495 $15,328,342,304
2008 $16,853,989,628 $17,910,858,638
2007 $13,994,218,413 $14,056,957,976
2006 $11,697,918,243 $12,756,858,899
2005 $11,009,033,438 $8,331,870,169
2004 $10,076,816,667 $6,221,110,219
2003 $8,768,721,563 $4,901,869,764
2002 $7,006,402,320 $4,193,850,445
2001 $6,507,824,829 $4,094,441,301
2000 $6,013,185,004 $3,600,632,111
1999 $6,592,834,933 $3,404,284,891
1998 $6,505,607,909 $3,537,741,942
1997 $6,041,478,726 $4,303,288,480
1996 $6,559,712,166 $3,597,220,962
1995 $6,326,342,633 $3,806,983,413
1994 $5,034,588,196 $3,656,806,166
1993 $7,367,986,241 $3,273,505,344
1992 $7,769,817,840 $3,182,810,841
1991 $7,255,210,470 $3,376,806,697
1990 $7,390,967,360 $3,288,381,797
1989 $6,366,039,373 $3,994,673,161
1988 $6,418,419,389 $3,728,878,149
1987 $6,487,353,103 $2,265,250,972
1986 $5,392,093,446 $1,664,413,508
1985 $3,818,944,918 $2,252,454,500
1984 $3,485,165,432 $2,719,518,933
1983 $3,569,356,125 $3,321,048,451
1982 $4,013,951,443 $3,871,117,093
1981 $4,095,892,781 $4,008,126,497
1980 $4,510,108,291 $3,884,530,854
1979 $4,084,877,823 $3,353,445,378
1978 $3,280,354,921 $2,811,032,473
1977 $2,938,046,463 $2,515,296,940
1976 $2,869,777,884 $2,742,859,263
1975 $2,830,388,405 $2,442,672,141
1974 $2,099,325,229 $2,910,981,262
1973 $1,863,398,590 $2,434,255,237
1972 $1,620,857,104 $1,872,416,680
1971 $1,339,549,033 $1,653,259,341
1970 $1,297,407,655 $1,788,779,285
1969 $1,245,234,931 $1,926,399,230
1968 $1,309,384,862 $1,573,739,371
1967 $1,246,480,766 $1,340,639,464
1966 $1,246,908,186 $1,238,999,505
1965 $1,210,058,228 $1,061,199,576
1964 $1,188,930,645 $822,639,671
1963 $1,122,139,862 $704,339,719
1962 $1,085,475,791 $679,279,729
1961 $1,058,975,257 $682,359,727
1960 $1,003,692,370 $698,739,721

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

GeoRank.org/economy/senegal/zambia | CC BY

GDP per capita in Senegal vs Zambia by year

Senegal
GDP per capita

GDP per capita, PPP
Zambia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Senegal Zambia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,773 $5,071 $1,187 $4,215
2023 $1,698 $4,778 $1,331 $4,077
2022 $1,574 $4,530 $1,447 $3,841
2021 $1,598 $4,174 $1,127 $3,503
2020 $1,461 $3,753 $952 $3,157
2019 $1,431 $3,648 $1,259 $3,361
2018 $1,453 $3,380 $1,464 $3,442
2017 $1,357 $3,234 $1,483 $3,392
2016 $1,266 $3,101 $1,239 $3,313
2015 $1,218 $2,994 $1,296 $3,337
2014 $1,399 $2,854 $1,707 $3,441
2013 $1,380 $2,769 $1,821 $3,477
2012 $1,327 $2,764 $1,710 $3,324
2011 $1,375 $2,685 $1,625 $3,228
2010 $1,276 $2,663 $1,451 $3,098
2009 $1,309 $2,606 $1,136 $2,872
2008 $1,399 $2,581 $1,376 $2,708
2007 $1,189 $2,499 $1,119 $2,555
2006 $1,017 $2,422 $1,052 $2,378
2005 $980 $2,350 $711 $2,213
2004 $918 $2,236 $549 $2,068
2003 $818 $2,131 $446 $1,942
2002 $669 $2,027 $394 $1,837
2001 $637 $2,044 $397 $1,785
2000 $603 $1,963 $359 $1,709
1999 $678 $1,893 $350 $1,654
1998 $685 $1,798 $373 $1,601
1997 $651 $1,719 $466 $1,631
1996 $723 $1,679 $400 $1,585
1995 $715 $1,656 $433 $1,501
1994 $584 $1,578 $426 $1,464
1993 $878 $1,588 $391 $1,607
1992 $951 $1,573 $389 $1,505
1991 $913 $1,561 $423 $1,534
1990 $957 $1,513 $422 $1,522
1989 $849 - $526 -
1988 $880 - $504 -
1987 $916 - $315 -
1986 $784 - $238.2 -
1985 $571 - $332 -
1984 $536 - $413 -
1983 $564 - $520 -
1982 $652 - $627 -
1981 $683 - $670 -
1980 $772 - $669 -
1979 $716 - $595 -
1978 $589 - $514 -
1977 $540 - $474 -
1976 $541 - $533 -
1975 $547 - $490 -
1974 $417 - $601 -
1973 $381 - $518 -
1972 $342 - $410 -
1971 $291.1 - $372 -
1970 $290.5 - $414 -
1969 $287.3 - $459 -
1968 $311 - $387 -
1967 $305 - $341 -
1966 $315 - $325 -
1965 $314 - $287.4 -
1964 $318 - $230 -
1963 $309 - $203.2 -
1962 $307 - $202.3 -
1961 $308 - $209.7 -
1960 $300 - $221.6 -

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

GeoRank.org/economy/senegal/zambia | CC BY

Senegal's GDP per capita is $1,773, ranking 159/197, compared to $1,187 in Zambia, ranking 169/197. Adjusted for purchasing power (GDP per capita PPP), Senegal ranks 158th at $5,071, while Zambia ranks 166th at $4,215.

Economic indicators

Senegal Zambia
Gross domestic product
$32.8B
2024
$25.3B
2024
GDP rank
109/197
2024
116/197
2024
GDP growth
6.06%
2023-2024
3.82%
2023-2024
GDP per capita
$1,773
2024
$1,187
2024
GDP per capita rank
159/197
2024
169/197
2024
GDP per capita, PPP
$5,071
2024
$4,215
2024
GDP per capita PPP rank
158/197
2024
166/197
2024
Government debt
$42.1B
2024
$29.1B
2024
Debt-to-GDP ratio
128.4%
2024
114.9%
2024
Government debt per person
$2,277
2024
$1,365
2024
Government debt per person rank
115/185
2024
134/185
2024
Average annual personal income after taxes
$2,194
2026
$1,349
2026
Market capitalization of domestic companies n/a
$7.77B
2024
Income share by richest 10%
28.8%
2021
39.1%
2022
Income share by poorest 10%
3%
2021
1.5%
2022
Government expenditure, % of GDP
33.5%
2024
25.5%
2024
Consumer prices inflation
0.8%
2023-2024
15%
2023-2024
Central bank interest rate n/a
14.3%
2025
Unemployment rate
5.78%
2024
5.86%
2023
Population
19491599
22697916

Spending and national debt comparison by year

Senegal
Spending

Debt
Zambia
Spending

Debt
1x
Year % of GDP
Senegal Zambia
Government spending Government debt Government spending Government debt
2024 33.5% 128.4% 25.5% 114.9%
2023 35.5% 118.4% 27.4% 129.1%
2022 36.2% 105% 28.2% 99.5%
2021 33.6% 98.6% 30.5% 111%
2020 29.6% 90.2% 34% 140%
2019 34.3% 81.5% 29.8% 103.3%
2018 22.6% 61.5% 27.7% 81.2%
2017 22.5% 61.1% 25% 66.6%
2016 24% 47.5% 23.9% 61.2%
2015 22.9% 44.5% 27.6% 61.9%
2014 23.1% 42.4% 24.3% 33.9%
2013 22.1% 36.9% 24% 25.9%
2012 23% 34.5% 21.9% 24.9%
2011 23.3% 32.9% 19.5% 20.8%
2010 21.7% 34.6% 18.1% 18.9%
2009 21.1% 29.9% 17.8% 20.5%
2008 20.9% 19.1% 19.5% 19.2%
2007 22.2% 19% 19.9% 21.9%
2006 21.3% 17.5% 19.7% 25%
2005 18.7% 36.1% 22.5% 75.7%
2004 18.1% 38% 23.3% 129.9%
2003 17.1% 42.9% 27.3% 159.5%
2002 15.5% 52% 27.6% 180.2%
2001 15.7% 53.2% 28% 210.2%
2000 14% 57.5% 21.4% 261%
1999 14.6% 15% - -
1998 13.5% 18.8% - -
1997 14.1% 67.8% - -
1996 15.4% 0.07% - -
1995 14.4% 65.3% - -
1994 15.9% 77.3% - -

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

GeoRank.org/economy/senegal/zambia | CC BY

In 2024, Senegal's government spending was $11B, accounting for 33.5% of its GDP, while Zambia spent $6.45B, or 25.5% of GDP.

Debt-to-GDP ratio is 128.4% in Senegal and 114.9% in Zambia, ranking 11/185 and 13/185, respectively.

Government deficit by year

Deficit/surplus
Senegal

Zambia
1x
Year Deficit/surplus, % of GDP
Senegal Zambia
2024 -13.4% -3.32%
2023 -14.8% -5.48%
2022 -16.1% -7.82%
2021 -13.7% -8.13%
2020 -9.64% -13.8%
2019 -13.9% -9.41%
2018 -3.66% -8.31%
2017 -2.97% -7.5%
2016 -3.27% -5.69%
2015 -3.66% -8.88%
2014 -3.9% -5.43%
2013 -4.34% -6.4%
2012 -4.18% -3.16%
2011 -4.92% -1.78%
2010 -3.94% -2.43%
2009 -3.66% -2.06%
2008 -3.53% -0.67%
2007 -2.8% -1.04%
2006 -3.67% 16.9%
2005 -0.26% -2.37%
2004 0.18% -2.51%
2003 -0.52% -5.31%
2002 0.19% -4.5%
2001 -1.44% -5.89%
2000 0.78% 1.16%
1999 -0.62% -
1998 0.93% -
1997 0.98% -
1996 0.92% -
1995 2.41% -
1994 5.9% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1994–2024, retrieved 2026-02-20).

GeoRank.org/economy/senegal/zambia | 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 Zambia's deficit of $840M, or 3.32% of GDP.

Over the past 25 years, Senegal recorded a fiscal deficit in 22 of those years, while Zambia ran a deficit in 23 years. On average, Senegal posted an annual deficit equal to 5.24% of GDP, compared to deficit of 4.15% of GDP for Zambia.

Inflation comparison by year

Inflation
Senegal

Zambia
1x
Year Consumer prices inflation
Senegal Zambia
2024 0.8% 15%
2023 5.94% 10.9%
2022 9.7% 11%
2021 2.18% 22%
2020 2.54% 15.7%
2019 1.76% 9.2%
2018 0.46% 7.5%
2017 1.32% 6.6%
2016 0.84% 17.9%
2015 0.14% 10.1%
2014 -1.09% 7.8%
2013 0.71% 7%
2012 1.42% 6.6%
2011 3.4% 8.7%
2010 1.23% 8.5%
2009 -2.25% 13.4%
2008 7.35% 12.4%
2007 5.85% 10.7%
2006 2.11% 9%
2005 1.71% 18.3%
2004 0.51% 18%
2003 -0.05% 21.4%
2002 2.34% 22.2%
2001 2.97% 21.4%
2000 0.73% 24.1%
1999 0.83% 23.9%
1998 1.16% 22.7%
1997 1.75% 21.4%

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/senegal/zambia | CC BY

Over the past 28 years, Senegal has recorded an average annual inflation rate of 2.01%, compared with 14.4% in Zambia. In 2024, inflation was 0.8% in Senegal and 15% in Zambia.

Top exports between countries

Senegal
Export category Export value
Chemicals & pharma $436K
Textiles & consumer goods $40K
Machinery & equipment $16K
Animal & marine products $12K
Raw materials & minerals $9K
Metals $8K
Raw agricultural goods $6K
Processed food, beverages & tobacco $3K
Wood & paper products $3K
Precious metals & jewellery $1K
Zambia
Export category Export value
Chemicals & pharma $45K
Miscellaneous $6K
Machinery & equipment $3K
Textiles & consumer goods $1K

Balance of trade

Senegal Zambia
Current account balance
-$6.07B
2023
-$487M
2024
Current account balance ranking
170/190
2023
106/190
2024
Current account balance, % of GDP
-19.8%
2023
-1.93%
2024
Goods imports
$10.8B
2023
$10.1B
2024
Goods exports
$5.52B
2023
$11.4B
2024
Service imports
$4.08B
2023
$1.94B
2024
Service exports
$1.48B
2023
$1.38B
2024
Imports of goods and services, % of GDP
43.4%
2024
27.6%
2024
Exports of goods and services, % of GDP
24.7%
2024
35%
2024

Economic freedom indices

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

Senegal Zambia
Economic freedom 53.2 51.9
Economic freedom ranking 140/197 152/197
Property rights 57.4 43.9
Government integrity 47.3 39.3
Judicial effectiveness 50.5 45
Tax burden 68.8 74.3
Government spending 63.1 78.1
Fiscal health 0 30.9
Business freedom 55.2 53.4
Labor freedom 54.4 48.8
Monetary freedom 74.3 66.6
Trade freedom 67 62.8
Investment freedom 60 40
Financial freedom 40 40

Economic freedom comparison by year

Senegal
Zambia
1x
Year Economic freedom index
Senegal Zambia
2026 53.2 51.9
2025 56.4 50.9
2024 55.4 48.4
2023 57.7 47.8
2022 60 48.7
2021 58 50.4
2020 58 53.5
2019 56.3 53.6
2018 55.7 54.3
2017 55.9 55.8
2016 58.1 58.8
2015 57.8 58.7
2014 55.4 60.4
2013 55.5 58.7
2012 55.4 58.3
2011 55.7 59.7
2010 54.6 58
2009 56.3 56.6
2008 58.3 56.2
2007 58.1 56.2
2006 56.2 56.8
2005 57.9 55
2004 58.9 54.9
2003 58.1 55.3
2002 58.6 59.6
2001 58.7 59.5
2000 58.9 62.8
1999 60.6 64.2
1998 59.7 62.7
1997 58.1 62.1
1996 58.2 59.6
1995 - 55.1

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

GeoRank.org/economy/senegal/zambia | CC BY

The Economic Freedom Index for Senegal is 53.2, ranking 140/197, compared to 51.9 for Zambia, ranking 152/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Senegal Zambia
Services, % of GDP
48.4%
2024
57.2%
2024
Industry, % of GDP
25%
2024
35.2%
2024
Agriculture, forestry, and fishing, % of GDP
16.6%
2024
2.83%
2024
GNI, Atlas method
$31.1B
2024
$25.9B
2024
GNI per capita, PPP
$4,920
2024
$3,850
2024
Total reserves including gold n/a
$4.09B
2024
Total reserves ranking n/a
106/177
2024
Net foreign direct investment
-$4.72B
2023
-$1.32B
2024
Net inflows of foreign direct investment
$2.02B
2024
$2.36B
2024
Net outflows of foreign direct investment
$48.1M
2024
$311M
2024
Servicing debt to the IMF, % of GNI
10.8%
2024
16.9%
2024
Poverty at national poverty lines
37.5%
2021
60%
2022
Gross capital formation, % of GDP
37.5%
2024
23.8%
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/zambia | 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 (1994–2024, 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.