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Economy of Seychelles vs Turkmenistan compared: GDP & Debt

Updated on by Georank team

The Seychelles has a GDP of $2.17B compared to $51.4B for Turkmenistan, ranking 178/197 and 92/197 by economy size, respectively.

The Seychelles has $1.25B in government debt (57.6% of GDP), compared to $2.11B (4.11% of GDP) in Turkmenistan.

Seychelles vs Turkmenistan GDP by year

Seychelles
Turkmenistan
1x
Year GDP, current $
Seychelles Turkmenistan
2024 $2,167,239,562 $51,387,209,872
2023 $2,187,379,755 $45,894,538,666
2022 $2,018,346,589 $42,208,726,138
2021 $1,487,173,795 $40,589,905,812
2020 $1,382,551,752 $41,509,903,182
2019 $1,868,690,097 $40,810,067,975
2018 $1,784,313,927 $40,765,428,571
2017 $1,675,370,641 $37,926,285,714
2016 $1,568,513,348 $36,169,428,571
2015 $1,432,403,352 $35,799,714,286
2014 $1,387,577,870 $43,524,210,526
2013 $1,333,160,407 $39,197,543,860
2012 $1,089,407,839 $35,164,210,526
2011 $1,058,918,707 $29,233,333,333
2010 $981,616,542 $22,583,157,895
2009 $850,901,620 $20,214,385,965
2008 $979,597,394 $19,271,523,179
2007 $1,077,308,814 $12,664,165,103
2006 $1,081,441,283 $10,276,674,365
2005 $977,899,382 $8,103,901,996
2004 $893,012,218 $6,838,351,088
2003 $750,847,230 $5,977,440,583
2002 $742,134,838 $4,462,029,109
2001 $662,064,156 $3,534,772,732
2000 $654,212,394 $2,904,663,311
1999 $662,838,615 $2,450,564,100
1998 $647,287,376 $2,605,689,134
1997 $598,966,982 $2,450,350,625
1996 $535,250,347 $2,378,759,975
1995 $540,733,048 $2,482,228,440
1994 $517,570,058 $2,561,118,608
1993 $504,230,621 $3,179,225,949
1992 $461,409,399 $3,200,539,816
1991 $398,307,170 $3,208,098,919
1990 $392,163,561 $3,189,539,641
1989 $324,333,367 $3,006,988,217
1988 $301,985,618 $3,010,982,414
1987 $265,212,957 $2,331,358,820
1986 $221,147,061 -
1985 $179,691,483 -
1984 $160,992,921 -
1983 $156,098,237 -
1982 $157,211,790 -
1981 $163,750,728 -
1980 $156,783,830 -
1979 $127,261,099 -
1978 $85,552,366 -
1977 $64,526,401 -
1976 $49,278,982 -
1975 $47,803,146 -
1974 $43,134,496 -
1973 $36,896,280 -
1972 $30,645,123 -
1971 $21,965,951 -
1970 $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/seychelles/turkmenistan | CC BY

GDP per capita in Seychelles vs Turkmenistan by year

Seychelles
GDP per capita

GDP per capita, PPP
Turkmenistan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Seychelles Turkmenistan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $17,859 $33,239 $6,857 $21,213
2023 $18,263 $31,781 $6,232 $19,829
2022 $16,837 $29,973 $5,838 $18,340
2021 $14,983 $29,980 $5,723 $16,434
2020 $14,041 $31,056 $5,973 $15,091
2019 $19,142 $34,219 $5,998 $15,478
2018 $18,440 $32,091 $6,125 $14,368
2017 $17,480 $30,675 $5,828 $13,278
2016 $16,567 $28,811 $5,687 $12,919
2015 $15,333 $25,435 $5,759 $12,715
2014 $15,188 $24,985 $7,164 $12,477
2013 $14,821 $22,487 $6,600 $11,723
2012 $12,337 $22,264 $6,054 $11,035
2011 $12,110 $21,781 $5,144 $10,283
2010 $10,935 $18,982 $4,059 $8,972
2009 $9,747 $18,453 $3,708 $8,285
2008 $11,265 $18,881 $3,606 $7,916
2007 $12,669 $19,473 $2,415 $6,901
2006 $12,783 $17,503 $1,997 $6,164
2005 $11,802 $15,846 $1,604 $5,489
2004 $10,828 $14,160 $1,379 $4,798
2003 $9,070 $14,142 $1,229 $4,536
2002 $8,864 $14,570 $936 $4,393
2001 $8,153 $14,615 $756 $4,401
2000 $8,064 $14,638 $634 $4,209
1999 $8,243 $13,853 $546 $3,981
1998 $8,210 $13,675 $591 $3,432
1997 $7,747 $13,458 $565 $3,222
1996 $7,004 $11,931 $558 $3,636
1995 $7,181 $10,809 $592 $3,405
1994 $6,975 $10,692 $622 $3,659
1993 $6,979 $11,020 $788 $4,422
1992 $6,520 $10,243 $811 $4,351
1991 $5,655 $9,387 $832 $5,117
1990 $5,642 $8,955 $848 $5,321
1989 $4,689 - $821 -
1988 $4,392 - $846 -
1987 $3,872 - $675 -
1986 $3,368 - - -
1985 $2,754 - - -
1984 $2,488 - - -
1983 $2,426 - - -
1982 $2,441 - - -
1981 $2,557 - - -
1980 $2,478 - - -
1979 $2,030 - - -
1978 $1,377 - - -
1977 $1,044 - - -
1976 $814 - - -
1975 $806 - - -
1974 $745 - - -
1973 $649 - - -
1972 $547 - - -
1971 $402 - - -
1970 $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/seychelles/turkmenistan | CC BY

The Seychelles' GDP per capita is $17,859, ranking 63/197, compared to $6,857 in Turkmenistan, ranking 104/197. Adjusted for purchasing power (GDP per capita PPP), the Seychelles ranks 67th at $33,239, while Turkmenistan ranks 94th at $21,213.

Economic indicators

Seychelles Turkmenistan
Gross domestic product
$2.17B
2024
$51.4B
2024
GDP rank
178/197
2024
92/197
2024
GDP growth
3.47%
2023-2024
6.3%
2023-2024
GDP per capita
$17,859
2024
$6,857
2024
GDP per capita rank
63/197
2024
104/197
2024
GDP per capita, PPP
$33,239
2024
$21,213
2024
GDP per capita PPP rank
67/197
2024
94/197
2024
Government debt
$1.25B
2024
$2.11B
2024
Debt-to-GDP ratio
57.6%
2024
4.11%
2024
Government debt per person
$10,288
2024
$282
2024
Government debt per person rank
57/185
2024
179/185
2024
Average annual personal income after taxes
$10,944
2026
$7,520
2026
Market capitalization of domestic companies
$811M
2024
n/a
Income share by richest 10%
23.9%
2018
31.5%
1998
Income share by poorest 10%
2.6%
2018
2.4%
1998
Government expenditure, % of GDP
33.8%
2024
14.5%
2024
Consumer prices inflation
0.31%
2023-2024
4.6%
2023-2024
Central bank interest rate
1.75%
2024
n/a
Unemployment rate
2.59%
2024
4%
2010
Population
126311
7776557

Spending and national debt comparison by year

Seychelles
Spending

Debt
Turkmenistan
Spending

Debt
1x
Year % of GDP
Seychelles Turkmenistan
Government spending Government debt Government spending Government debt
2024 33.8% 57.6% 14.5% 4.11%
2023 32.9% 55.3% 13.7% 5.46%
2022 31.3% 60% 13% 7.14%
2021 38.8% 71% 13.4% 12.3%
2020 46.7% 77.4% 13.5% 15.4%
2019 31.7% 48.9% 13.6% 17.7%
2018 33% 51.3% 13.7% 22.5%
2017 34.3% 56.7% 17.8% 24.7%
2016 34.5% 62.8% 14.1% 21.1%
2015 31.5% 64.7% 17.3% 19%
2014 33.4% 70.4% 17% 16%
2013 37.8% 68.2% 16.9% 20.4%
2012 38.6% 80.1% 14.7% 17.9%
2011 36.4% 82.5% 15.4% 14.8%
2010 34.6% 82.2% 14.6% 7.04%
2009 32.1% 106.1% 14.4% 3.09%
2008 27% 192.1% 11.7% 3.56%
2007 41.9% 144% 14.4% 3.06%
2006 43.6% 135.1% 16% 4.23%
2005 39% 144.1% 21.1% 6.82%
2004 39.9% 163.2% 20.3% 11.4%
2003 44.6% 177% 20.8% 16.9%
2002 56.3% 195.9% 19.4% 24.2%
2001 46.8% 199.8% 22.6% 34.1%
2000 55.4% 177.8% 25.9% 55.1%
1999 56.1% 159.8% 20.8% 66.7%
1998 60.7% 161.2% 26.1% 81.6%
1997 54.7% 143% 26.9% 64.2%
1996 59.1% 146.7% - -
1995 53.1% 133.5% - -
1994 63.6% 123.5% - -
1993 60.4% 82.2% - -
1992 50.7% 79.9% - -
1991 52.1% 89.2% - -
1990 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/seychelles/turkmenistan | CC BY

In 2024, the Seychelles' government spending was $732M, accounting for 33.8% of its GDP, while Turkmenistan spent $7.46B, or 14.5% of GDP.

Debt-to-GDP ratio is 57.6% in the Seychelles and 4.11% in Turkmenistan, ranking 85/185 and 183/185, respectively.

Government deficit by year

Deficit/surplus
Seychelles

Turkmenistan
1x
Year Deficit/surplus, % of GDP
Seychelles Turkmenistan
2024 -0.69% -0.08%
2023 -1.14% 0.11%
2022 -0.76% 3.38%
2021 -5.76% 0.57%
2020 -15.7% -0.16%
2019 0.42% -0.4%
2018 -0.8% -0.22%
2017 -1.67% -2.84%
2016 0.02% -2.38%
2015 1.39% -0.7%
2014 2.87% 0.89%
2013 0.33% 1.53%
2012 2.93% 7.53%
2011 3.36% 3.84%
2010 0.52% 2.13%
2009 4.84% 7.53%
2008 7.88% 10.7%
2007 -9.93% 4.19%
2006 -2.54% 5.64%
2005 0.42% 0.86%
2004 0.44% 1.47%
2003 3.4% 3.99%
2002 -16.3% 0.19%
2001 -8.93% 0.77%
2000 -14.7% -0.55%
1999 -10.3% 2.48%
1998 -16.7% 1.15%
1997 -5.91% -0.2%
1996 -9.69% -
1995 -2.58% -
1994 -6.95% -
1993 -3.62% -
1992 6.44% -
1991 3.15% -
1990 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/seychelles/turkmenistan | 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 Turkmenistan's deficit of $42.9M, or 0.08% of GDP.

Over the past 28 years, the Seychelles recorded a fiscal deficit in 15 of those years, while Turkmenistan ran a deficit in 9 years. On average, the Seychelles posted an annual deficit equal to 2.96% of GDP, compared to surplus of 1.84% of GDP for Turkmenistan.

Inflation comparison by year

Inflation
Seychelles

Turkmenistan
1x
Year Consumer prices inflation
Seychelles Turkmenistan
2024 0.31% 4.6%
2023 -1.04% -1.6%
2022 2.63% 11.2%
2021 9.77% 19.5%
2020 1.2% 6.1%
2019 1.81% 5.1%
2018 3.7% 13.3%
2017 2.86% 8%
2016 -1.02% 3.6%
2015 4.04% 7.4%
2014 1.39% 6%
2013 4.34% 6.8%
2012 7.11% 5.3%
2011 2.56% 5.3%
2010 -2.4% 4.4%
2009 31.8% -2.7%
2008 37% 14.5%
2007 5.32% 6.3%
2006 -0.35% 8.2%
2005 0.91% 10.7%
2004 3.86% 5.9%
2003 3.3% 5.6%
2002 0.18% 8.8%
2001 5.97% 11.6%
2000 6.27% 8%
1999 6.35% 23.5%
1998 2.58% 16.8%
1997 0.62% 83.7%

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/seychelles/turkmenistan | CC BY

Over the past 28 years, the Seychelles has recorded an average annual inflation rate of 5.03%, compared with 10.9% in Turkmenistan. In 2024, inflation was 0.31% in the Seychelles and 4.6% in Turkmenistan.

Balance of trade

Seychelles Turkmenistan
Current account balance
-$176M
2024
n/a
Current account balance ranking
97/190
2024
n/a
Current account balance, % of GDP
-8.11%
2024
n/a
Goods imports
$1.39B
2024
n/a
Goods exports
$595M
2024
n/a
Service imports
$1B
2024
n/a
Service exports
$1.71B
2024
n/a
Imports of goods and services, % of GDP
103.2%
2024
11.2%
2024
Exports of goods and services, % of GDP
85.2%
2024
17.6%
2024

Economic freedom indices

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

Seychelles Turkmenistan
Economic freedom 66.5 47
Economic freedom ranking 60/197 177/197
Property rights 82.6 17.4
Government integrity 71.7 8.4
Judicial effectiveness 61.7 12.3
Tax burden 77.3 94.2
Government spending 68 94.3
Fiscal health 92.2 99.9
Business freedom 71.3 37.5
Labor freedom 52 29.3
Monetary freedom 79.8 76.7
Trade freedom 81.2 74.2
Investment freedom 30 10
Financial freedom 30 10

Economic freedom comparison by year

Seychelles
Turkmenistan
1x
Year Economic freedom index
Seychelles Turkmenistan
2026 66.5 47
2025 66.4 47.1
2024 60.4 46.3
2023 59.5 46.5
2022 61.1 46.2
2021 66.3 47.4
2020 64.3 46.5
2019 61.4 48.4
2018 61.6 47.1
2017 61.8 47.4
2016 62.2 41.9
2015 57.5 41.4
2014 56.2 42.2
2013 54.9 42.6
2012 53 43.8
2011 51.2 43.6
2010 47.9 42.5
2009 47.8 44.2
2008 - 43.4
2007 - 43
2006 - 43.8
2005 - 47.6
2004 - 50.7
2003 - 51.3
2002 - 43.2
2001 - 41.8
2000 - 37.6
1999 - 36.1
1998 - 35

Data sources: The Heritage Foundation | Economic Freedom Index (1998–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for the Seychelles is 66.5, ranking 60/197, compared to 47 for Turkmenistan, ranking 177/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Seychelles Turkmenistan
Services, % of GDP
65.8%
2024
50.4%
2024
Industry, % of GDP
12.3%
2024
37.5%
2024
Agriculture, forestry, and fishing, % of GDP
2.45%
2024
12.2%
2024
GNI, Atlas method
$2.12B
2024
$48.8B
2024
GNI per capita, PPP
$32,180
2024
$21,020
2024
Total reserves including gold
$774M
2024
$1.51B
1999
Total reserves ranking
145/177
2024
135/177
1999
Net foreign direct investment
-$262M
2024
n/a
Net inflows of foreign direct investment
$226M
2024
$1.64B
2024
Net outflows of foreign direct investment
-$35.4M
2024
$0
2024
Servicing debt to the IMF, % of GNI n/a
1.91%
2024
Poverty at national poverty lines
25.3%
2018
0.2%
2020
Gross capital formation, % of GDP
17.2%
2024
47.2%
2012

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/turkmenistan | 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 (1998–2026, 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. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.