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Economy of Seychelles vs Tunisia compared: GDP & Debt

Updated on by Georank team

The Seychelles has a GDP of $2.17B compared to $53.4B for Tunisia, ranking 176/197 and 90/197 by economy size, respectively.

The Seychelles has $1.25B in government debt (59.3% of GDP), compared to $44.4B (82.9% of GDP) in Tunisia.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Seychelles
GDP, current $

GDP, constant 2015 $
Tunisia
GDP, current $

GDP, constant 2015 $
Year GDP
Seychelles Tunisia
Current $ Constant $ Current $ Constant $
1960 $12,012,025 $132,183,660 - -
1961 $11,592,024 $125,730,088 $866,155,429 $6,137,829,834
1962 $12,642,026 $136,302,205 $880,027,733 $5,856,098,258
1963 $13,923,029 $150,117,255 $1,026,737,600 $5,227,504,981
1964 $15,393,032 $159,003,065 $1,025,866,792 $4,983,069,469
1965 $15,603,032 $157,316,725 $991,047,619 $4,856,664,333
1966 $16,443,034 $179,178,255 $1,040,952,381 $5,024,455,670
1967 $16,632,032 $180,082,639 $1,085,714,286 $5,032,592,900
1968 $16,074,028 $193,684,705 $1,214,666,667 $5,556,472,162
1969 $16,452,028 $193,684,705 $1,289,904,762 $5,820,283,203
1970 $18,432,032 $210,868,160 $1,439,238,095 $6,092,068,996
1971 $21,965,951 $244,294,508 $1,685,162,272 $6,735,403,513
1972 $30,645,123 $259,705,357 $2,237,556,149 $7,930,447,182
1973 $36,896,280 $283,219,564 $2,730,813,385 $7,878,531,025
1974 $43,134,496 $286,909,490 $3,545,868,575 $8,514,705,256
1975 $47,803,146 $296,025,766 $4,328,965,588 $9,124,026,071
1976 $49,278,982 $344,211,798 $4,508,191,942 $9,842,712,161
1977 $64,526,401 $322,904,307 $5,109,324,009 $10,178,456,507
1978 $85,552,366 $391,204,033 $5,968,460,080 $10,833,997,305
1979 $127,261,099 $452,992,130 $7,188,863,904 $11,545,522,372
1980 $156,783,830 $429,886,465 $8,744,134,354 $12,402,054,611
1981 $163,750,728 $413,220,699 $8,428,445,294 $13,085,912,935
1982 $157,211,790 $404,662,591 $8,133,580,052 $13,021,302,862
1983 $156,098,237 $402,168,917 $8,350,582,748 $13,630,949,504
1984 $160,992,921 $419,484,794 $8,254,541,195 $14,414,571,427
1985 $179,691,483 $462,665,475 $8,410,226,053 $15,228,789,050
1986 $221,147,061 $466,190,739 $9,017,806,654 $15,008,430,237
1987 $265,212,957 $488,915,451 $9,696,715,911 $16,014,200,843
1988 $301,985,618 $514,957,094 $10,096,245,762 $16,025,756,543
1989 $324,333,367 $567,923,802 $10,101,851,745 $16,305,678,293
1990 $392,163,561 $610,261,195 $12,290,568,182 $17,601,950,275
1991 $398,307,170 $627,107,005 $13,074,782,609 $18,289,226,397
1992 $461,409,399 $672,089,666 $15,496,708,060 $19,716,833,824
1993 $504,230,621 $721,174,866 $14,608,335,608 $20,148,598,741
1994 $517,570,058 $703,602,944 $15,633,174,304 $20,789,004,085
1995 $540,733,048 $707,015,677 $18,030,876,599 $21,277,892,826
1996 $535,250,347 $777,702,722 $19,587,161,807 $22,798,428,276
1997 $598,966,982 $872,533,006 $20,746,210,354 $24,038,877,878
1998 $647,287,376 $894,062,243 $21,802,893,587 $25,188,840,698
1999 $662,838,615 $910,799,133 $22,943,202,175 $26,713,932,931
2000 $654,212,394 $949,537,227 $21,473,528,161 $27,972,151,937
2001 $662,064,156 $927,971,690 $22,065,832,449 $29,034,050,814
2002 $742,134,838 $939,226,436 $23,141,616,605 $29,418,042,728
2003 $750,847,230 $883,932,969 $27,453,902,261 $30,801,396,632
2004 $893,012,218 $858,736,867 $31,183,885,241 $32,722,107,266
2005 $977,899,382 $936,072,663 $32,272,186,695 $33,862,978,438
2006 $1,081,441,283 $1,024,120,861 $34,376,664,601 $35,638,786,834
2007 $1,077,308,814 $1,115,022,509 $38,915,353,867 $38,029,978,712
2008 $979,597,394 $1,084,627,595 $44,859,439,902 $39,641,606,104
2009 $850,901,620 $1,057,735,599 $43,455,740,497 $40,848,078,614
2010 $981,616,542 $1,105,387,984 $46,206,091,938 $42,061,729,256
2011 $1,058,918,707 $1,210,507,987 $48,123,325,825 $41,200,879,648
2012 $1,089,407,839 $1,248,162,998 $47,311,401,813 $42,938,187,712
2013 $1,333,160,407 $1,263,811,654 $48,685,446,414 $43,981,556,030
2014 $1,387,577,870 $1,315,169,065 $50,271,812,921 $45,340,730,385
2015 $1,432,403,352 $1,432,403,352 $45,779,494,042 $45,779,494,042
2016 $1,568,513,348 $1,605,975,219 $44,360,072,680 $46,291,045,988
2017 $1,675,370,641 $1,717,657,340 $42,163,530,591 $47,326,964,920
2018 $1,784,313,927 $1,802,500,556 $42,686,504,460 $48,569,264,672
2019 $1,868,690,097 $1,901,895,701 $41,905,642,419 $49,340,470,116
2020 $1,382,551,752 $1,678,615,793 $42,491,780,918 $44,893,939,453
2021 $1,487,173,795 $1,687,886,479 $47,073,234,359 $47,020,260,422
2022 $2,018,346,589 $1,902,424,765 $44,948,769,171 $48,277,261,610
2023 $2,187,379,755 $1,945,405,358 $48,196,281,784 $48,296,165,329
2024 $2,167,239,562 $2,012,826,895 $53,409,988,745 $48,948,478,710

Economic indicators

Seychelles Tunisia
Gross domestic product
$2.17B
2024
$53.4B
2024
GDP rank
176/197
2024
90/197
2024
GDP growth
-0.92%
2023-2024
10.8%
2023-2024
GDP per capita
$17,859
2024
$4,350
2024
GDP per capita rank
63/197
2024
127/197
2024
GDP per capita, PPP
$33,239
2024
$14,451
2024
Government debt
$1.25B
2024
$44.4B
2024
Debt-to-GDP ratio
59.3%
2025
82.9%
2025
Government debt per person
$10,323
2024
$3,617
2024
Government debt per person rank
59/185
2024
95/185
2024
Average annual personal income after taxes
$9,988
2025
$4,061
2025
Market capitalization of domestic companies
$811M
2024
$8.3B
2024
Income share by richest 10%
23.9%
2018
27%
2021
Income share by poorest 10%
2.6%
2018
3.1%
2021
Government expenditure, % of GDP
36%
2025
32.4%
2025
Consumer prices inflation
0.31%
2023-2024
5.9%
2024-2025
Central bank interest rate
1.75%
2024
7.5%
2025
Unemployment rate
2.59%
2024
15.1%
2023
Population
125181
12402051

GDP per capita in Seychelles vs Tunisia

The Seychelles' GDP per capita is $17,859, ranking 63/197, compared to $4,350 in Tunisia, ranking 127/197. Adjusted for purchasing power (GDP per capita PPP), the Seychelles ranks 67th at $33,239, while Tunisia ranks 116th at $14,451.

Seychelles
GDP per capita

GDP per capita, PPP
Tunisia
GDP per capita

GDP per capita, PPP
Year Current $
Seychelles Tunisia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $288.1 - - -
1961 $270.3 - $200.7 -
1962 $287 - $201.4 -
1963 $308 - $231.9 -
1964 $332 - $228.5 -
1965 $328 - $217.3 -
1966 $338 - $223.8 -
1967 $333 - $228 -
1968 $314 - $248.9 -
1969 $314 - $257.7 -
1970 $344 - $280.5 -
1971 $402 - $320 -
1972 $547 - $415 -
1973 $649 - $493 -
1974 $745 - $624 -
1975 $806 - $741 -
1976 $814 - $752 -
1977 $1,044 - $830 -
1978 $1,377 - $946 -
1979 $2,030 - $1,113 -
1980 $2,478 - $1,324 -
1981 $2,557 - $1,247 -
1982 $2,441 - $1,177 -
1983 $2,426 - $1,184 -
1984 $2,488 - $1,143 -
1985 $2,754 - $1,135 -
1986 $3,368 - $1,187 -
1987 $3,872 - $1,245 -
1988 $4,392 - $1,266 -
1989 $4,689 - $1,239 -
1990 $5,642 $8,955 $1,476 $3,780
1991 $5,655 $9,387 $1,538 $3,975
1992 $6,520 $10,243 $1,785 $4,292
1993 $6,979 $11,020 $1,649 $4,401
1994 $6,975 $10,692 $1,733 $4,555
1995 $7,181 $10,809 $1,968 $4,686
1996 $7,004 $11,931 $2,107 $5,040
1997 $7,747 $13,458 $2,202 $5,333
1998 $8,210 $13,675 $2,285 $5,579
1999 $8,243 $13,853 $2,376 $5,930
2000 $8,064 $14,638 $2,199 $6,279
2001 $8,153 $14,615 $2,236 $6,593
2002 $8,864 $14,570 $2,321 $6,715
2003 $9,070 $14,142 $2,726 $7,098
2004 $10,828 $14,160 $3,067 $7,672
2005 $11,802 $15,846 $3,147 $8,117
2006 $12,783 $17,503 $3,323 $8,729
2007 $12,669 $19,473 $3,727 $9,479
2008 $11,265 $18,881 $4,255 $9,975
2009 $9,747 $18,453 $4,080 $10,237
2010 $10,935 $18,982 $4,292 $10,555
2011 $12,110 $21,781 $4,421 $10,436
2012 $12,337 $22,264 $4,297 $10,615
2013 $14,821 $22,487 $4,370 $10,672
2014 $15,188 $24,985 $4,459 $10,947
2015 $15,333 $25,435 $4,015 $10,783
2016 $16,567 $28,811 $3,848 $10,994
2017 $17,480 $30,675 $3,619 $11,289
2018 $18,440 $32,091 $3,628 $11,841
2019 $19,142 $34,219 $3,529 $12,495
2020 $14,041 $31,056 $3,549 $11,918
2021 $14,983 $29,980 $3,907 $12,444
2022 $16,837 $29,973 $3,709 $13,608
2023 $18,263 $31,781 $3,950 $14,010
2024 $17,859 $33,239 $4,350 $14,451

Spending and national debt comparison

In 2024, the Seychelles' government spending was $739M, accounting for 36% of its GDP, while Tunisia's spent $18.1B, or 32.4% of GDP.

Debt-to-GDP ratio is 59.3% in the Seychelles and 82.9% in Tunisia, ranking 85/185 and 40/185, respectively.

Seychelles
Government spending

Government debt
Tunisia
Government spending

Government debt
Year % of GDP
Seychelles Tunisia
Government spending Government debt Government spending Government debt
1983 47.9% 12.4% - -
1984 50.5% 15.3% - -
1985 53% 26.5% - -
1986 58% 31.5% - -
1987 49.7% 37% - -
1988 46.7% 41.3% - -
1989 51.7% 39.9% - -
1990 46.1% 80.4% - -
1991 52.1% 89.2% 27.6% 63.3%
1992 50.7% 79.9% 25.7% 62.1%
1993 60.4% 82.2% 26.7% 63.8%
1994 63.6% 123.5% 25.9% 63.9%
1995 53.1% 133.5% 26.6% 65.6%
1996 59.1% 146.7% 26.7% 66.8%
1997 54.7% 143% 24.5% 66.6%
1998 60.7% 161.2% 24.2% 58.2%
1999 56.1% 159.8% 24% 61.9%
2000 55.4% 177.8% 24% 62.9%
2001 46.8% 199.8% 24% 52.2%
2002 56.3% 195.9% 24.1% 51.6%
2003 44.6% 177% 23.5% 52.6%
2004 39.9% 163.2% 23% 51.6%
2005 39% 144.1% 23% 50%
2006 43.6% 135.1% 22.9% 45.7%
2007 41.9% 144% 23.3% 42.7%
2008 27% 192.1% 23.7% 41.4%
2009 32.1% 106.1% 24.6% 40.3%
2010 34.6% 82.2% 24% 38.8%
2011 36.4% 82.5% 27.9% 43.3%
2012 38.6% 80.1% 28.3% 49%
2013 37.8% 68.2% 30.8% 45.6%
2014 33.4% 70.4% 27.7% 50.7%
2015 31.5% 64.7% 27.4% 52.4%
2016 34.5% 62.8% 27.2% 58.9%
2017 34.3% 56.7% 28.7% 67.1%
2018 33% 51.3% 28.7% 72.9%
2019 31.7% 48.9% 29.5% 67.3%
2020 46.7% 77.4% 34.5% 77.7%
2021 38.8% 71.2% 33.2% 79.7%
2022 31.3% 60% 36.5% 82.9%
2023 32.9% 55.3% 35.7% 82.5%
2024 34.1% 57.8% 33.8% 83.1%
2025 36% 59.3% 32.4% 82.9%

Government deficit by year

In 2024, the Seychelles' government deficit, the difference between spending and revenue, was -$31.8M, equivalent to -1.47% of GDP. This compares to Tunisia's deficit of -$3.16B, or -5.91% of GDP.

Over the past 34 years, the Seychelles recorded a fiscal deficit in 19 of those years, while Tunisia ran a deficit in 34 years. On average, the Seychelles posted an annual deficit equal to -2.85% of GDP, compared to deficit of -4.05% of GDP for Tunisia.

Deficit/surplus
Seychelles

Tunisia
Year Deficit/surplus, % of GDP
Seychelles Tunisia
1983 -3.13% -
1984 -6.09% -
1985 -4.86% -
1986 -10.1% -
1987 2.77% -
1988 11.8% -
1989 8.26% -
1990 11.9% -
1991 3.15% -5.25%
1992 6.44% -3.45%
1993 -3.62% -3.22%
1994 -6.95% -2.87%
1995 -2.58% -4.53%
1996 -9.69% -5.18%
1997 -5.91% -3.7%
1998 -16.7% -2.84%
1999 -10.3% -3.05%
2000 -14.7% -3.22%
2001 -8.93% -2.87%
2002 -16.3% -2.55%
2003 3.4% -2.64%
2004 0.44% -2.1%
2005 0.42% -2.59%
2006 -2.54% -2.33%
2007 -9.93% -2.47%
2008 7.88% -0.62%
2009 4.84% -2.59%
2010 0.52% -0.46%
2011 3.36% -3.19%
2012 2.93% -4.9%
2013 0.33% -7.05%
2014 2.87% -3.11%
2015 1.39% -4.95%
2016 0.02% -5.87%
2017 -1.67% -5.61%
2018 -0.8% -4.27%
2019 0.42% -3.6%
2020 -15.7% -9.06%
2021 -5.76% -7.6%
2022 -0.76% -6.91%
2023 -1.14% -7.02%
2024 -1.47% -5.91%
2025 -1.19% -5.43%

Inflation comparison by year

Over the past 29 years, the Seychelles has recorded an average annual inflation rate of 4.82%, compared with 4.49% in Tunisia. In 2024, inflation was 0.31% in the Seychelles and 5.9% in Tunisia.

Inflation
Seychelles

Tunisia
Year Inflation
Seychelles Tunisia Seychelles Tunisia
1996 -1.1% 3.7%
1997 0.62% 3.6%
1998 2.58% 3.1%
1999 6.35% 2.8%
2000 6.27% 2.8%
2001 5.97% 1.9%
2002 0.18% 2.7%
2003 3.3% 2.7%
2004 3.86% 3.7%
2005 0.91% 2%
2006 -0.35% 4.1%
2007 5.32% 3.4%
2008 37% 4.9%
2009 31.8% 3.5%
2010 -2.4% 4.4%
2011 2.56% 3.2%
2012 7.11% 4.6%
2013 4.34% 5.3%
2014 1.39% 4.6%
2015 4.04% 4.4%
2016 -1.02% 3.6%
2017 2.86% 5.3%
2018 3.7% 7.3%
2019 1.81% 6.7%
2020 1.2% 5.6%
2021 9.77% 5.7%
2022 2.63% 8.3%
2023 -1.04% 9.3%
2024 0.31% 7%
2025 - 5.9%

Top exports between countries

Seychelles
Export category Export value
Animal & marine products $654K
Processed food, beverages & tobacco $250K
Wood & paper products $3K
Tunisia
Export category Export value
Processed food, beverages & tobacco $8.28M
Machinery & equipment $258K

Balance of trade

Seychelles Tunisia
Current account balance
-$155M
2023
-$775M
2024
Current account balance ranking
90/189
2023
115/189
2024
Current account balance, % of GDP
-7.09%
2023
-1.45%
2024
Goods imports
$1.43B
2023
$18.7B
2024
Goods exports
$542M
2023
$8.95B
2024
Service imports
$1.01B
2023
$3.92B
2024
Service exports
$1.83B
2023
$11.2B
2024
Imports of goods and services, % of GDP
103.2%
2024
56.6%
2024
Exports of goods and services, % of GDP
85.2%
2024
48.4%
2024

Economic freedom indices

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

Seychelles Tunisia
Economic freedom 66.4 49.1
Economic freedom ranking 58/197 166/197
Property rights 74 59.3
Government integrity 75 41.3
Judicial effectiveness 63.7 39.7
Tax burden 79.7 79.4
Government spending 64.6 63.1
Fiscal health 83.2 6.4
Business freedom 78.8 56.8
Labor freedom 56.5 56
Monetary freedom 75.6 71.3
Trade freedom 85.2 56.2
Investment freedom 30 30
Financial freedom 30 30

Economic freedom by year comparison

The Economic Freedom Index for the Seychelles is 66.4, ranking 58/197, compared to 49.1 for Tunisia, ranking 166/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Seychelles
Tunisia
Year Economic freedom index
Seychelles Tunisia
1995 - 63.4
1996 - 63.9
1997 - 63.8
1998 - 63.9
1999 - 61.1
2000 - 61.3
2001 - 60.8
2002 - 60.2
2003 - 58.1
2004 - 58.4
2005 - 55.4
2006 - 57.5
2007 - 60.3
2008 - 60.1
2009 47.8 58
2010 47.9 58.9
2011 51.2 58.5
2012 53 58.6
2013 54.9 57
2014 56.2 57.3
2015 57.5 57.7
2016 62.2 57.6
2017 61.8 55.7
2018 61.6 58.9
2019 61.4 55.4
2020 64.3 55.8
2021 66.3 56.6
2022 61.1 54.2
2023 59.5 52.9
2024 60.4 48.8
2025 66.4 49.1

More economic indicators

Seychelles Tunisia
Services, % of GDP
65.8%
2024
62.1%
2023
Industry, % of GDP
12.3%
2024
23.6%
2023
Agriculture, forestry, and fishing, % of GDP
2.45%
2024
9.33%
2023
GNI, Atlas method
$2.12B
2024
$47.9B
2024
GNI per capita, PPP
$32,180
2024
$14,090
2024
Total reserves including gold
$774M
2024
$9.34B
2024
Total reserves ranking
146/177
2024
80/177
2024
Net foreign direct investment
-$279M
2023
-$725M
2024
Net inflows of foreign direct investment
$299M
2024
$760M
2024
Net outflows of foreign direct investment
$46.1M
2024
$34.6M
2024
Servicing debt to the IMF, % of GNI
n/a
10.5%
2023
Poverty at national poverty lines
25.3%
2018
16.6%
2021
Gross capital formation, % of GDP
17.2%
2024
13.4%
2024

GDP per capita map

GDP per capita

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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.