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Economy of Seychelles vs Sri Lanka compared: GDP & Debt

Updated on by Georank team

The Seychelles has a GDP of $2.17B compared to $99B for Sri Lanka, ranking 178/197 and 72/197 by economy size, respectively.

The Seychelles has $1.25B in government debt (57.6% of GDP), compared to $99.8B (100.8% of GDP) in Sri Lanka.

Seychelles vs Sri Lanka GDP by year

Seychelles
Sri Lanka
1x
Year GDP, current $
Seychelles Sri Lanka
2024 $2,167,239,562 $98,963,185,510
2023 $2,187,379,755 $83,716,142,582
2022 $2,018,346,589 $74,143,020,263
2021 $1,487,173,795 $88,556,698,938
2020 $1,382,551,752 $84,335,574,582
2019 $1,868,690,097 $88,998,706,297
2018 $1,784,313,927 $94,450,015,983
2017 $1,675,370,641 $94,369,350,286
2016 $1,568,513,348 $88,000,211,172
2015 $1,432,403,352 $85,090,301,052
2014 $1,387,577,870 $82,531,125,191
2013 $1,333,160,407 $76,976,203,829
2012 $1,089,407,839 $70,447,217,164
2011 $1,058,918,707 $67,753,285,897
2010 $981,616,542 $58,636,049,434
2009 $850,901,620 $42,066,224,093
2008 $979,597,394 $40,713,826,215
2007 $1,077,308,814 $32,350,238,760
2006 $1,081,441,283 $28,267,410,543
2005 $977,899,382 $24,405,791,045
2004 $893,012,218 $20,662,525,941
2003 $750,847,230 $18,881,765,437
2002 $742,134,838 $16,536,535,647
2001 $662,064,156 $15,749,753,805
2000 $654,212,394 $16,595,882,819
1999 $662,838,615 $15,711,933,513
1998 $647,287,376 $15,760,736,956
1997 $598,966,982 $15,091,913,884
1996 $535,250,347 $13,897,738,375
1995 $540,733,048 $13,029,697,561
1994 $517,570,058 $11,717,604,209
1993 $504,230,621 $10,338,679,636
1992 $461,409,399 $9,703,011,636
1991 $398,307,170 $9,000,362,582
1990 $392,163,561 $8,032,551,173
1989 $324,333,367 $6,987,267,684
1988 $301,985,618 $6,978,371,581
1987 $265,212,957 $6,682,167,120
1986 $221,147,061 $6,405,210,564
1985 $179,691,483 $5,978,460,972
1984 $160,992,921 $6,043,474,843
1983 $156,098,237 $5,167,913,302
1982 $157,211,790 $4,768,765,017
1981 $163,750,728 $4,415,844,156
1980 $156,783,830 $4,024,621,900
1979 $127,261,099 $3,364,611,432
1978 $85,552,366 $2,733,183,857
1977 $64,526,401 $4,104,509,583
1976 $49,278,982 $3,591,319,857
1975 $47,803,146 $3,791,298,146
1974 $43,134,496 $3,574,586,466
1973 $36,896,280 $2,875,625,000
1972 $30,645,123 $2,553,936,348
1971 $21,965,951 $2,369,308,600
1970 $18,432,032 $2,296,470,588
1969 $16,452,028 $1,965,546,218
1968 $16,074,028 $1,801,344,538
1967 $16,632,032 $1,859,465,021
1966 $16,443,034 $1,751,470,588
1965 $15,603,032 $1,698,319,328
1964 $15,393,032 $1,309,747,899
1963 $13,923,029 $1,240,672,269
1962 $12,642,026 $1,434,156,379
1961 $11,592,024 $1,444,327,731
1960 $12,012,025 $1,409,873,950

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

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

GDP per capita in Seychelles vs Sri Lanka by year

Seychelles
GDP per capita

GDP per capita, PPP
Sri Lanka
GDP per capita

GDP per capita, PPP
1x
Year Current $
Seychelles Sri Lanka
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $17,859 $33,239 $4,516 $15,633
2023 $18,263 $31,781 $3,799 $14,456
2022 $16,837 $29,973 $3,343 $14,194
2021 $14,983 $29,980 $3,997 $14,316
2020 $14,041 $31,056 $3,848 $12,941
2019 $19,142 $34,219 $4,082 $14,113
2018 $18,440 $32,091 $4,359 $14,178
2017 $17,480 $30,675 $4,399 $13,610
2016 $16,567 $28,811 $4,149 $13,079
2015 $15,333 $25,435 $4,058 $12,227
2014 $15,188 $24,985 $3,972 $11,721
2013 $14,821 $22,487 $3,739 $11,253
2012 $12,337 $22,264 $3,328 $10,249
2011 $12,110 $21,781 $3,225 $9,076
2010 $10,935 $18,982 $2,808 $8,234
2009 $9,747 $18,453 $2,027 $7,576
2008 $11,265 $18,881 $1,974 $7,317
2007 $12,669 $19,473 $1,579 $6,820
2006 $12,783 $17,503 $1,389 $6,261
2005 $11,802 $15,846 $1,207 $5,679
2004 $10,828 $14,160 $1,029 $5,216
2003 $9,070 $14,142 $946 $4,850
2002 $8,864 $14,570 $835 $4,522
2001 $8,153 $14,615 $804 $4,328
2000 $8,064 $14,638 $860 $4,368
1999 $8,243 $13,853 $829 $4,103
1998 $8,210 $13,675 $848 $3,952
1997 $7,747 $13,458 $827 $3,804
1996 $7,004 $11,931 $776 $3,582
1995 $7,181 $10,809 $742 $3,454
1994 $6,975 $10,692 $678 $3,260
1993 $6,979 $11,020 $607 $3,067
1992 $6,520 $10,243 $580 $2,851
1991 $5,655 $9,387 $546 $2,713
1990 $5,642 $8,955 $491 $2,527
1989 $4,689 - $430 -
1988 $4,392 - $434 -
1987 $3,872 - $420 -
1986 $3,368 - $407 -
1985 $2,754 - $385 -
1984 $2,488 - $391 -
1983 $2,426 - $336 -
1982 $2,441 - $312 -
1981 $2,557 - $292.5 -
1980 $2,478 - $271.1 -
1979 $2,030 - $230.8 -
1978 $1,377 - $191 -
1977 $1,044 - $292.1 -
1976 $814 - $260.3 -
1975 $806 - $279.8 -
1974 $745 - $268.7 -
1973 $649 - $220.2 -
1972 $547 - $199.4 -
1971 $402 - $188.8 -
1970 $344 - $186.9 -
1969 $314 - $163.6 -
1968 $314 - $153.5 -
1967 $333 - $162.3 -
1966 $338 - $156.6 -
1965 $328 - $155.6 -
1964 $332 - $122.9 -
1963 $308 - $119.4 -
1962 $287 - $141.4 -
1961 $270.3 - $145.9 -
1960 $288.1 - $145.9 -

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

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

The Seychelles' GDP per capita is $17,859, ranking 63/197, compared to $4,516 in Sri Lanka, ranking 124/197. Adjusted for purchasing power (GDP per capita PPP), the Seychelles ranks 67th at $33,239, while Sri Lanka ranks 111th at $15,633.

Economic indicators

Seychelles Sri Lanka
Gross domestic product
$2.17B
2024
$99B
2024
GDP rank
178/197
2024
72/197
2024
GDP growth
3.47%
2023-2024
5.01%
2023-2024
GDP per capita
$17,859
2024
$4,516
2024
GDP per capita rank
63/197
2024
124/197
2024
GDP per capita, PPP
$33,239
2024
$15,633
2024
GDP per capita PPP rank
67/197
2024
111/197
2024
Government debt
$1.25B
2024
$99.8B
2024
Debt-to-GDP ratio
57.6%
2024
100.8%
2024
Government debt per person
$10,288
2024
$4,554
2024
Government debt per person rank
57/185
2024
85/185
2024
Average annual personal income after taxes
$10,944
2026
$2,874
2026
Market capitalization of domestic companies
$811M
2024
$19.5B
2024
Income share by richest 10%
23.9%
2018
30.8%
2019
Income share by poorest 10%
2.6%
2018
3.1%
2019
Government expenditure, % of GDP
33.8%
2024
19.3%
2024
Consumer prices inflation
0.31%
2023-2024
-0.43%
2023-2024
Central bank interest rate
1.75%
2024
7.75%
2025
Unemployment rate
2.59%
2024
4.67%
2023
Population
126311
22185425

Spending and national debt comparison by year

Seychelles
Spending

Debt
Sri Lanka
Spending

Debt
1x
Year % of GDP
Seychelles Sri Lanka
Government spending Government debt Government spending Government debt
2024 33.8% 57.6% 19.3% 100.8%
2023 32.9% 55.3% 19.5% 110.4%
2022 31.3% 60% 18.6% 115.9%
2021 38.8% 71% 20% 102.7%
2020 46.7% 77.4% 22.1% 96.9%
2019 31.7% 48.9% 19.5% 82.6%
2018 33% 51.3% 17.5% 83.6%
2017 34.3% 56.7% 17.9% 72.3%
2016 34.5% 62.8% 18.2% 75%
2015 31.5% 64.7% 19.3% 76.3%
2014 33.4% 70.4% 17.2% 69.6%
2013 37.8% 68.2% 16.6% 69.5%
2012 38.6% 80.1% 17.3% 67.5%
2011 36.4% 82.5% 19.1% 69.4%
2010 34.6% 82.2% 19.3% 68.7%
2009 32.1% 106.1% 21% 72.8%
2008 27% 192.1% 19.1% 68.8%
2007 41.9% 144% 19.9% 71.8%
2006 43.6% 135.1% 20.5% 74.3%
2005 39% 144.1% 20.1% 76.6%
2004 39.9% 163.2% 19.3% 86.5%
2003 44.6% 177% 19.3% 86.5%
2002 56.3% 195.9% 20.8% 96.3%
2001 46.8% 199.8% 22.4% 84.4%
2000 55.4% 177.8% 21.7% 79.2%
1999 56.1% 159.8% 20.5% 77.7%
1998 60.7% 161.2% 21.4% 74.2%
1997 54.7% 143% 21.4% 70.1%
1996 59.1% 146.7% 23.1% 76.2%
1995 53.1% 133.5% 24.8% 77.8%
1994 63.6% 123.5% 24.1% 77.9%
1993 60.4% 82.2% 23.2% 79.2%
1992 50.7% 79.9% 23% 77.9%
1991 52.1% 89.2% 26.4% 80.5%
1990 46.1% 80.4% 25.4% 78.9%
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/seychelles/sri-lanka | CC BY

In 2024, the Seychelles' government spending was $732M, accounting for 33.8% of its GDP, while Sri Lanka spent $19.1B, or 19.3% of GDP.

Debt-to-GDP ratio is 57.6% in the Seychelles and 100.8% in Sri Lanka, ranking 85/185 and 23/185, respectively.

Government deficit by year

Deficit/surplus
Seychelles

Sri Lanka
1x
Year Deficit/surplus, % of GDP
Seychelles Sri Lanka
2024 -0.69% -5.64%
2023 -1.14% -8.32%
2022 -0.76% -10.2%
2021 -5.76% -11.7%
2020 -15.7% -13.4%
2019 0.42% -7.52%
2018 -0.8% -4.96%
2017 -1.67% -5.1%
2016 0.02% -5%
2015 1.39% -6.64%
2014 2.87% -5.99%
2013 0.33% -5%
2012 2.93% -5.44%
2011 3.36% -6.01%
2010 0.52% -6.73%
2009 4.84% -8.33%
2008 7.88% -5.93%
2007 -9.93% -5.81%
2006 -2.54% -5.91%
2005 0.42% -5.93%
2004 0.44% -6.32%
2003 3.4% -6.15%
2002 -16.3% -6.9%
2001 -8.93% -8.48%
2000 -14.7% -7.78%
1999 -10.3% -5.58%
1998 -16.7% -6.79%
1997 -5.91% -5.71%
1996 -9.69% -6.89%
1995 -2.58% -7.11%
1994 -6.95% -7.41%
1993 -3.62% -5.77%
1992 6.44% -4.95%
1991 3.15% -7.97%
1990 11.9% -6.39%
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/seychelles/sri-lanka | CC BY

In 2024, the Seychelles' government deficit, the difference between spending and revenue, was $15M, equivalent to 0.69% of GDP. This compares to Sri Lanka's deficit of $5.58B, or 5.64% of GDP.

Over the past 35 years, the Seychelles recorded a fiscal deficit in 19 of those years, while Sri Lanka ran a deficit in 35 years. On average, the Seychelles posted an annual deficit equal to 2.41% of GDP, compared to deficit of 6.85% of GDP for Sri Lanka.

Inflation comparison by year

Inflation
Seychelles

Sri Lanka
1x
Year Consumer prices inflation
Seychelles Sri Lanka
2024 0.31% -0.43%
2023 -1.04% 16.5%
2022 2.63% 49.7%
2021 9.77% 7.01%
2020 1.2% 6.15%
2019 1.81% 3.53%
2018 3.7% 2.14%
2017 2.86% 7.7%
2016 -1.02% 3.96%
2015 4.04% 3.77%
2014 1.39% 3.18%
2013 4.34% 6.91%
2012 7.11% 7.54%
2011 2.56% 6.72%
2010 -2.4% 6.22%
2009 31.8% 3.46%
2008 37% 22.6%
2007 5.32% 15.8%
2006 -0.35% 10%
2005 0.91% 11.6%
2004 3.86% 7.58%
2003 3.3% 6.31%
2002 0.18% 9.55%
2001 5.97% 14.2%
2000 6.27% 6.18%
1999 6.35% 4.69%
1998 2.58% 9.36%
1997 0.62% 9.57%

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

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

Over the past 28 years, the Seychelles has recorded an average annual inflation rate of 5.03%, compared with 9.34% in Sri Lanka. In 2024, inflation was 0.31% in the Seychelles and -0.43% in Sri Lanka.

Top exports between countries

Seychelles
Export category Export value
Processed food, beverages & tobacco $157K
Machinery & equipment $138K
Animal & marine products $124K
Raw materials & minerals $20K
Textiles & consumer goods $17K
Metals $15K
Chemicals & pharma $3K
Sri Lanka
Export category Export value
Machinery & equipment $974K
Raw agricultural goods $807K
Chemicals & pharma $754K
Textiles & consumer goods $644K
Wood & paper products $445K
Processed food, beverages & tobacco $284K
Animal & marine products $196K
Metals $137K
Raw materials & minerals $137K
Miscellaneous $2K

Balance of trade

Seychelles Sri Lanka
Current account balance
-$176M
2024
$1.21B
2024
Current account balance ranking
97/190
2024
53/190
2024
Current account balance, % of GDP
-8.11%
2024
+1.22%
2024
Goods imports
$1.39B
2024
$18.8B
2024
Goods exports
$595M
2024
$12.8B
2024
Service imports
$1B
2024
$3.48B
2024
Service exports
$1.71B
2024
$6.91B
2024
Imports of goods and services, % of GDP
103.2%
2024
22.5%
2024
Exports of goods and services, % of GDP
85.2%
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.

Seychelles Sri Lanka
Economic freedom 66.5 50.3
Economic freedom ranking 60/197 162/197
Property rights 82.6 47.3
Government integrity 71.7 37.3
Judicial effectiveness 61.7 47.2
Tax burden 77.3 77
Government spending 68 89
Fiscal health 92.2 0
Business freedom 71.3 60.1
Labor freedom 52 54.3
Monetary freedom 79.8 65.9
Trade freedom 81.2 65.6
Investment freedom 30 30
Financial freedom 30 30

Economic freedom comparison by year

Seychelles
Sri Lanka
1x
Year Economic freedom index
Seychelles Sri Lanka
2026 66.5 50.3
2025 66.4 49.4
2024 60.4 49.2
2023 59.5 52.2
2022 61.1 53.3
2021 66.3 55.7
2020 64.3 57.4
2019 61.4 56.4
2018 61.6 57.8
2017 61.8 57.4
2016 62.2 59.9
2015 57.5 58.6
2014 56.2 60
2013 54.9 60.7
2012 53 58.3
2011 51.2 57.1
2010 47.9 54.6
2009 47.8 56
2008 - 58.4
2007 - 59.4
2006 - 58.7
2005 - 61
2004 - 61.6
2003 - 62.5
2002 - 64
2001 - 66
2000 - 63.2
1999 - 64
1998 - 64.6
1997 - 65.5
1996 - 62.5
1995 - 60.6

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

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

The Economic Freedom Index for the Seychelles is 66.5, ranking 60/197, 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

Seychelles Sri Lanka
Services, % of GDP
65.8%
2024
57.5%
2024
Industry, % of GDP
12.3%
2024
25.5%
2024
Agriculture, forestry, and fishing, % of GDP
2.45%
2024
8.3%
2024
GNI, Atlas method
$2.12B
2024
$84.6B
2024
GNI per capita, PPP
$32,180
2024
$15,240
2024
Total reserves including gold
$774M
2024
$6.09B
2024
Total reserves ranking
145/177
2024
92/177
2024
Net foreign direct investment
-$262M
2024
-$651M
2024
Net inflows of foreign direct investment
$226M
2024
$761M
2024
Net outflows of foreign direct investment
-$35.4M
2024
$110M
2024
Servicing debt to the IMF, % of GNI n/a
4.98%
2024
Poverty at national poverty lines
25.3%
2018
14.3%
2019
Gross capital formation, % of GDP
17.2%
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/seychelles/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. International Monetary Fund (IMF) | Public Finances in Modern History (1983–1989, retrieved 2026-02-20)
  6. TradeMap (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.