Skip to content

Economy of Seychelles vs Ukraine compared: GDP & Debt

Updated on by Georank team

The Seychelles has a GDP of $2.17B compared to $191B for Ukraine, ranking 178/197 and 57/197 by economy size, respectively.

The Seychelles has $1.25B in government debt (57.6% of GDP), compared to $171B (89.7% of GDP) in Ukraine.

Seychelles vs Ukraine GDP by year

Seychelles
Ukraine
1x
Year GDP, current $
Seychelles Ukraine
2024 $2,167,239,562 $190,741,262,415
2023 $2,187,379,755 $181,221,517,869
2022 $2,018,346,589 $161,989,520,721
2021 $1,487,173,795 $199,765,859,571
2020 $1,382,551,752 $156,617,722,013
2019 $1,868,690,097 $153,883,047,510
2018 $1,784,313,927 $130,891,088,294
2017 $1,675,370,641 $112,090,505,082
2016 $1,568,513,348 $93,355,869,404
2015 $1,432,403,352 $91,030,967,789
2014 $1,387,577,870 $133,503,871,862
2013 $1,333,160,407 $190,498,811,460
2012 $1,089,407,839 $182,591,753,828
2011 $1,058,918,707 $169,333,835,202
2010 $981,616,542 $141,209,170,427
2009 $850,901,620 $121,552,153,444
2008 $979,597,394 $188,110,390,660
2007 $1,077,308,814 $148,733,861,386
2006 $1,081,441,283 $111,884,752,475
2005 $977,899,382 $89,238,865,119
2004 $893,012,218 $67,220,154,164
2003 $750,847,230 $52,010,355,753
2002 $742,134,838 $43,956,163,612
2001 $662,064,156 $39,309,580,983
2000 $654,212,394 $32,375,083,935
1999 $662,838,615 $31,580,639,554
1998 $647,287,376 $41,882,523,345
1997 $598,966,982 $50,151,531,592
1996 $535,250,347 $44,558,831,005
1995 $540,733,048 $48,213,856,469
1994 $517,570,058 $52,549,580,265
1993 $504,230,621 $65,648,559,903
1992 $461,409,399 $73,945,908,384
1991 $398,307,170 $77,350,733,982
1990 $392,163,561 $81,393,558,423
1989 $324,333,367 $82,709,161,099
1988 $301,985,618 $74,703,517,903
1987 $265,212,957 $64,087,694,038
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/ukraine | CC BY

GDP per capita in Seychelles vs Ukraine by year

Seychelles
GDP per capita

GDP per capita, PPP
Ukraine
GDP per capita

GDP per capita, PPP
1x
Year Current $
Seychelles Ukraine
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $17,859 $33,239 $5,038 $18,550
2023 $18,263 $31,781 $4,803 $17,665
2022 $16,837 $29,973 $3,946 $14,770
2021 $14,983 $29,980 $4,510 $17,846
2020 $14,041 $31,056 $3,505 $15,541
2019 $19,142 $34,219 $3,423 $14,217
2018 $18,440 $32,091 $2,895 $12,555
2017 $17,480 $30,675 $2,467 $11,536
2016 $16,567 $28,811 $2,047 $10,865
2015 $15,333 $25,435 $1,988 $9,922
2014 $15,188 $24,985 $2,904 $10,494
2013 $14,821 $22,487 $4,130 $10,904
2012 $12,337 $22,264 $3,951 $9,552
2011 $12,110 $21,781 $3,657 $9,127
2010 $10,935 $18,982 $3,040 $8,453
2009 $9,747 $18,453 $2,607 $7,995
2008 $11,265 $18,881 $4,018 $9,324
2007 $12,669 $19,473 $3,160 $8,900
2006 $12,783 $17,503 $2,366 $7,971
2005 $11,802 $15,846 $1,875 $7,142
2004 $10,828 $14,160 $1,401 $6,663
2003 $9,070 $14,142 $1,076 $5,764
2002 $8,864 $14,570 $903 $5,123
2001 $8,153 $14,615 $800 $4,747
2000 $8,064 $14,638 $653 $4,228
1999 $8,243 $13,853 $632 $3,871
1998 $8,210 $13,675 $831 $3,794
1997 $7,747 $13,458 $987 $3,794
1996 $7,004 $11,931 $870 $3,812
1995 $7,181 $10,809 $933 $4,124
1994 $6,975 $10,692 $1,009 $4,565
1993 $6,979 $11,020 $1,254 $5,766
1992 $6,520 $10,243 $1,413 $6,568
1991 $5,655 $9,387 $1,483 $7,148
1990 $5,642 $8,955 $1,564 $7,591
1989 $4,689 - $1,593 -
1988 $4,392 - $1,444 -
1987 $3,872 - $1,244 -
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/ukraine | CC BY

The Seychelles' GDP per capita is $17,859, ranking 63/197, compared to $5,038 in Ukraine, ranking 120/197. Adjusted for purchasing power (GDP per capita PPP), the Seychelles ranks 67th at $33,239, while Ukraine ranks 101st at $18,550.

Economic indicators

Seychelles Ukraine
Gross domestic product
$2.17B
2024
$191B
2024
GDP rank
178/197
2024
57/197
2024
GDP growth
3.47%
2023-2024
2.91%
2023-2024
GDP per capita
$17,859
2024
$5,038
2024
GDP per capita rank
63/197
2024
120/197
2024
GDP per capita, PPP
$33,239
2024
$18,550
2024
GDP per capita PPP rank
67/197
2024
101/197
2024
Government debt
$1.25B
2024
$171B
2024
Debt-to-GDP ratio
57.6%
2024
89.7%
2024
Government debt per person
$10,288
2024
$4,520
2024
Government debt per person rank
57/185
2024
86/185
2024
Average annual personal income after taxes
$10,944
2026
$5,370
2026
Market capitalization of domestic companies
$811M
2024
$4.42B
2018
Number of billionaires n/a
7
2025
Income share by richest 10%
23.9%
2018
21.7%
2020
Income share by poorest 10%
2.6%
2018
4.3%
2020
Government expenditure, % of GDP
33.8%
2024
71.3%
2024
Consumer prices inflation
0.31%
2023-2024
6.5%
2023-2024
Central bank interest rate
1.75%
2024
15.5%
2025
Unemployment rate
2.59%
2024
9.83%
2021
Population
126311
40125599

Spending and national debt comparison by year

Seychelles
Spending

Debt
Ukraine
Spending

Debt
1x
Year % of GDP
Seychelles Ukraine
Government spending Government debt Government spending Government debt
2024 33.8% 57.6% 71.3% 89.7%
2023 32.9% 55.3% 73.4% 81.2%
2022 31.3% 60% 65.4% 77.7%
2021 38.8% 71% 40.5% 48.9%
2020 46.7% 77.4% 45.6% 60.5%
2019 31.7% 48.9% 41.5% 50.5%
2018 33% 51.3% 41.9% 60.4%
2017 34.3% 56.7% 41.7% 71.6%
2016 34.5% 62.8% 40.8% 79.5%
2015 31.5% 64.7% 43% 79.3%
2014 33.4% 70.4% 44.8% 70.3%
2013 37.8% 68.2% 48.1% 40.5%
2012 38.6% 80.1% 49% 37.5%
2011 36.4% 82.5% 45.7% 36.9%
2010 34.6% 82.2% 49.2% 40.6%
2009 32.1% 106.1% 48.6% 35.4%
2008 27% 192.1% 47.1% 20.4%
2007 41.9% 144% 43.7% 12.3%
2006 43.6% 135.1% 44.6% 14.8%
2005 39% 144.1% 44.2% 17.7%
2004 39.9% 163.2% 41.6% 24.8%
2003 44.6% 177% 38.9% 29.4%
2002 56.3% 195.9% 37.9% 33.6%
2001 46.8% 199.8% 36.7% 36.7%
2000 55.4% 177.8% 35.5% 43.8%
1999 56.1% 159.8% 25.8% 59%
1998 60.7% 161.2% 37.1% 46.5%
1997 54.7% 143% 40.8% 28.9%
1996 59.1% 146.7% 36.9% 24.4%
1995 53.1% 133.5% 41.3% 30.2%
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 (1983–1996, retrieved 2026-02-20).

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

In 2024, the Seychelles' government spending was $732M, accounting for 33.8% of its GDP, while Ukraine spent $136B, or 71.3% of GDP.

Debt-to-GDP ratio is 57.6% in the Seychelles and 89.7% in Ukraine, ranking 85/185 and 33/185, respectively.

Government deficit by year

Deficit/surplus
Seychelles

Ukraine
1x
Year Deficit/surplus, % of GDP
Seychelles Ukraine
2024 -0.69% -17.2%
2023 -1.14% -19.3%
2022 -0.76% -15.6%
2021 -5.76% -3.97%
2020 -15.7% -5.92%
2019 0.42% -2.08%
2018 -0.8% -2.12%
2017 -1.67% -2.36%
2016 0.02% -2.46%
2015 1.39% -1.16%
2014 2.87% -4.46%
2013 0.33% -4.78%
2012 2.93% -4.31%
2011 3.36% -2.76%
2010 0.52% -5.77%
2009 4.84% -6.27%
2008 7.88% -3.14%
2007 -9.93% -1.97%
2006 -2.54% -1.36%
2005 0.42% -2.28%
2004 0.44% -4.41%
2003 3.4% -0.89%
2002 -16.3% -1.84%
2001 -8.93% -3.03%
2000 -14.7% -3.19%
1999 -10.3% 4.95%
1998 -16.7% -2.69%
1997 -5.91% -5.37%
1996 -9.69% -3.09%
1995 -2.58% -4.72%
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/ukraine | 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 Ukraine's deficit of $32.8B, or 17.2% of GDP.

Over the past 30 years, the Seychelles recorded a fiscal deficit in 17 of those years, while Ukraine ran a deficit in 29 years. On average, the Seychelles posted an annual deficit equal to 3.18% of GDP, compared to deficit of 4.45% of GDP for Ukraine.

Inflation comparison by year

Inflation
Seychelles

Ukraine
1x
Year Consumer prices inflation
Seychelles Ukraine
2024 0.31% 6.5%
2023 -1.04% 12.9%
2022 2.63% 20.2%
2021 9.77% 9.4%
2020 1.2% 2.7%
2019 1.81% 7.9%
2018 3.7% 10.9%
2017 2.86% 14.4%
2016 -1.02% 13.9%
2015 4.04% 48.7%
2014 1.39% 12.1%
2013 4.34% -0.3%
2012 7.11% 0.6%
2011 2.56% 8%
2010 -2.4% 9.4%
2009 31.8% 15.9%
2008 37% 25.2%
2007 5.32% 12.8%
2006 -0.35% 9.1%
2005 0.91% 13.5%
2004 3.86% 9%
2003 3.3% 5.2%
2002 0.18% 0.8%
2001 5.97% 12%
2000 6.27% 28.2%
1999 6.35% 22.7%
1998 2.58% 10.6%
1997 0.62% 15.9%

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/ukraine | CC BY

Over the past 28 years, the Seychelles has recorded an average annual inflation rate of 5.03%, compared with 12.8% in Ukraine. In 2024, inflation was 0.31% in the Seychelles and 6.5% in Ukraine.

Top exports between countries

Seychelles
Export category Export value
Chemicals & pharma $141K
Machinery & equipment $17K
Ukraine
Export category Export value
Machinery & equipment $2.48M
Raw agricultural goods $611K
Animal & marine products $466K
Processed food, beverages & tobacco $254K
Textiles & consumer goods $52K
Wood & paper products $46K
Chemicals & pharma $17K
Metals $16K
Raw materials & minerals $2K

Balance of trade

Seychelles Ukraine
Current account balance
-$176M
2024
-$15.1B
2024
Current account balance ranking
97/190
2024
179/190
2024
Current account balance, % of GDP
-8.11%
2024
-7.94%
2024
Goods imports
$1.39B
2024
$72.3B
2024
Goods exports
$595M
2024
$39.3B
2024
Service imports
$1B
2024
$22.9B
2024
Service exports
$1.71B
2024
$17.3B
2024
Imports of goods and services, % of GDP
103.2%
2024
48.3%
2024
Exports of goods and services, % of GDP
85.2%
2024
29.4%
2024

Economic freedom indices

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

Seychelles Ukraine
Economic freedom 66.5 54.1
Economic freedom ranking 60/197 135/197
Property rights 82.6 21.6
Government integrity 71.7 35
Judicial effectiveness 61.7 28.2
Tax burden 77.3 83.7
Government spending 68 0
Fiscal health 92.2 3.9
Business freedom 71.3 57.4
Labor freedom 52 46.9
Monetary freedom 79.8 65.7
Trade freedom 81.2 73
Investment freedom 30 35
Financial freedom 30 30

Economic freedom comparison by year

Seychelles
Ukraine
1x
Year Economic freedom index
Seychelles Ukraine
2026 66.5 -
2025 66.4 -
2024 60.4 -
2023 59.5 -
2022 61.1 54.1
2021 66.3 56.2
2020 64.3 54.9
2019 61.4 52.3
2018 61.6 51.9
2017 61.8 48.1
2016 62.2 46.8
2015 57.5 46.9
2014 56.2 49.3
2013 54.9 46.3
2012 53 46.1
2011 51.2 45.8
2010 47.9 46.4
2009 47.8 48.8
2008 - 51
2007 - 51.5
2006 - 54.4
2005 - 55.8
2004 - 53.7
2003 - 51.1
2002 - 48.2
2001 - 48.5
2000 - 47.8
1999 - 43.7
1998 - 40.4
1997 - 43.5
1996 - 40.6
1995 - 39.9

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

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

The Economic Freedom Index for the Seychelles is 66.5, ranking 60/197, compared to 54.1 for Ukraine, ranking 135/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Seychelles Ukraine
Services, % of GDP
65.8%
2024
60.6%
2024
Industry, % of GDP
12.3%
2024
19%
2024
Agriculture, forestry, and fishing, % of GDP
2.45%
2024
7.11%
2024
GNI, Atlas method
$2.12B
2024
$184B
2024
GNI per capita, PPP
$32,180
2024
$18,560
2024
Total reserves including gold
$774M
2024
$43.8B
2024
Total reserves ranking
145/177
2024
46/177
2024
Net foreign direct investment
-$262M
2024
-$3.71B
2024
Net inflows of foreign direct investment
$226M
2024
$4.02B
2024
Net outflows of foreign direct investment
-$35.4M
2024
$305M
2024
Servicing debt to the IMF, % of GNI n/a
5.42%
2024
Poverty at national poverty lines
25.3%
2018
23.2%
2020
Gross capital formation, % of GDP
17.2%
2024
18.6%
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/ukraine | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

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 (1983–1996, retrieved 2026-02-20)
  6. TradeMap (2022–2024, 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.