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Economy of Seychelles vs Vietnam compared: GDP & Debt

Updated on by Georank team

The Seychelles has a GDP of $2.17B compared to $476B for Vietnam, ranking 178/197 and 33/197 by economy size, respectively.

The Seychelles has $1.25B in government debt (57.6% of GDP), compared to $149B (31.3% of GDP) in Vietnam.

Seychelles vs Vietnam GDP by year

Seychelles
Vietnam
1x
Year GDP, current $
Seychelles Vietnam
2024 $2,167,239,562 $476,388,230,307
2023 $2,187,379,755 $433,857,681,378
2022 $2,018,346,589 $413,445,230,669
2021 $1,487,173,795 $366,474,752,771
2020 $1,382,551,752 $346,615,738,538
2019 $1,868,690,097 $334,365,270,497
2018 $1,784,313,927 $310,106,478,395
2017 $1,675,370,641 $281,353,605,987
2016 $1,568,513,348 $257,096,001,178
2015 $1,432,403,352 $239,258,328,382
2014 $1,387,577,870 $233,451,469,643
2013 $1,333,160,407 $213,708,811,665
2012 $1,089,407,839 $195,590,661,129
2011 $1,058,918,707 $172,595,049,184
2010 $981,616,542 $147,201,173,197
2009 $850,901,620 $106,014,659,565
2008 $979,597,394 $99,130,304,099
2007 $1,077,308,814 $77,414,425,532
2006 $1,081,441,283 $66,371,664,817
2005 $977,899,382 $57,633,255,738
2004 $893,012,218 $45,427,854,693
2003 $750,847,230 $39,552,513,232
2002 $742,134,838 $35,064,105,501
2001 $662,064,156 $32,685,198,809
2000 $654,212,394 $31,172,518,403
1999 $662,838,615 $28,683,659,007
1998 $647,287,376 $27,209,602,050
1997 $598,966,982 $26,843,700,442
1996 $535,250,347 $24,657,470,575
1995 $540,733,048 $20,736,164,459
1994 $517,570,058 $16,286,433,533
1993 $504,230,621 $13,180,953,598
1992 $461,409,399 $9,866,990,236
1991 $398,307,170 $9,613,369,520
1990 $392,163,561 $6,471,740,806
1989 $324,333,367 $6,293,304,975
1988 $301,985,618 $25,423,812,649
1987 $265,212,957 $36,658,108,850
1986 $221,147,061 $26,336,616,250
1985 $179,691,483 $14,094,687,821
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/vietnam | CC BY

GDP per capita in Seychelles vs Vietnam by year

Seychelles
GDP per capita

GDP per capita, PPP
Vietnam
GDP per capita

GDP per capita, PPP
1x
Year Current $
Seychelles Vietnam
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $17,859 $33,239 $4,717 $16,386
2023 $18,263 $31,781 $4,323 $15,034
2022 $16,837 $29,973 $4,148 $13,905
2021 $14,983 $29,980 $3,704 $12,049
2020 $14,041 $31,056 $3,534 $11,609
2019 $19,142 $34,219 $3,441 $11,029
2018 $18,440 $32,091 $3,222 $10,010
2017 $17,480 $30,675 $2,956 $9,170
2016 $16,567 $28,811 $2,735 $8,375
2015 $15,333 $25,435 $2,578 $7,672
2014 $15,188 $24,985 $2,546 $7,297
2013 $14,821 $22,487 $2,360 $6,758
2012 $12,337 $22,264 $2,185 $6,377
2011 $12,110 $21,781 $1,951 $5,786
2010 $10,935 $18,982 $1,683 $5,389
2009 $9,747 $18,453 $1,226 $5,061
2008 $11,265 $18,881 $1,164 $4,844
2007 $12,669 $19,473 $926 $4,581
2006 $12,783 $17,503 $808 $4,237
2005 $11,802 $15,846 $711 $3,894
2004 $10,828 $14,160 $565 $3,543
2003 $9,070 $14,142 $497 $3,240
2002 $8,864 $14,570 $445 $3,002
2001 $8,153 $14,615 $419 $2,809
2000 $8,064 $14,638 $404 $2,614
1999 $8,243 $13,853 $376 $2,421
1998 $8,210 $13,675 $361 $2,308
1997 $7,747 $13,458 $362 $2,189
1996 $7,004 $11,931 $337 $2,019
1995 $7,181 $10,809 $287.8 $1,841
1994 $6,975 $10,692 $229.9 $1,674
1993 $6,979 $11,020 $189.4 $1,534
1992 $6,520 $10,243 $144.5 $1,413
1991 $5,655 $9,387 $143.7 $1,298
1990 $5,642 $8,955 $98.8 $1,210
1989 $4,689 - $98.1 -
1988 $4,392 - $405 -
1987 $3,872 - $595 -
1986 $3,368 - $436 -
1985 $2,754 - $238.6 -
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/vietnam | CC BY

The Seychelles' GDP per capita is $17,859, ranking 63/197, compared to $4,717 in Vietnam, ranking 122/197. Adjusted for purchasing power (GDP per capita PPP), the Seychelles ranks 67th at $33,239, while Vietnam ranks 108th at $16,386.

Economic indicators

Seychelles Vietnam
Gross domestic product
$2.17B
2024
$476B
2024
GDP rank
178/197
2024
33/197
2024
GDP growth
3.47%
2023-2024
7.09%
2023-2024
GDP per capita
$17,859
2024
$4,717
2024
GDP per capita rank
63/197
2024
122/197
2024
GDP per capita, PPP
$33,239
2024
$16,386
2024
GDP per capita PPP rank
67/197
2024
108/197
2024
Government debt
$1.25B
2024
$149B
2024
Debt-to-GDP ratio
57.6%
2024
31.3%
2024
Government debt per person
$10,288
2024
$1,475
2024
Government debt per person rank
57/185
2024
132/185
2024
Average annual personal income after taxes
$10,944
2026
$4,020
2026
Market capitalization of domestic companies
$811M
2024
$205B
2024
Number of billionaires n/a
5
2025
Income share by richest 10%
23.9%
2018
28.1%
2022
Income share by poorest 10%
2.6%
2018
2.6%
2022
Government expenditure, % of GDP
33.8%
2024
19.1%
2024
Consumer prices inflation
0.31%
2023-2024
3.6%
2023-2024
Central bank interest rate
1.75%
2024
4.5%
2023
Unemployment rate
2.59%
2024
1.53%
2024
Population
126311
102365351

Spending and national debt comparison by year

Seychelles
Spending

Debt
Vietnam
Spending

Debt
1x
Year % of GDP
Seychelles Vietnam
Government spending Government debt Government spending Government debt
2024 33.8% 57.6% 19.1% 31.3%
2023 32.9% 55.3% 18.8% 34.3%
2022 31.3% 60% 18.2% 34.9%
2021 38.8% 71% 20.1% 39.2%
2020 46.7% 77.4% 21.3% 41.3%
2019 31.7% 48.9% 19.8% 41%
2018 33% 51.3% 20.5% 43.8%
2017 34.3% 56.7% 21.5% 46.6%
2016 34.5% 62.8% 22.2% 47.9%
2015 31.5% 64.7% 24.2% 46.1%
2014 33.4% 70.4% 22.8% 43.6%
2013 37.8% 68.2% 24.5% 41.4%
2012 38.6% 80.1% 23.5% 38.3%
2011 36.4% 82.5% 21.2% 36.2%
2010 34.6% 82.2% 23.7% 37.3%
2009 32.1% 106.1% 25% 36.2%
2008 27% 192.1% 21.4% 31%
2007 41.9% 144% 22.3% 32.2%
2006 43.6% 135.1% 20.5% 30.2%
2005 39% 144.1% 20.6% 28.7%
2004 39.9% 163.2% 19.4% 29.4%
2003 44.6% 177% 22.2% 29.8%
2002 56.3% 195.9% 19.7% 27.7%
2001 46.8% 199.8% 19.2% 25.4%
2000 55.4% 177.8% 17.8% 24.8%
1999 56.1% 159.8% 16.7% -
1998 60.7% 161.2% 16% -
1997 54.7% 143% - -
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/vietnam | CC BY

In 2024, the Seychelles' government spending was $732M, accounting for 33.8% of its GDP, while Vietnam spent $91.1B, or 19.1% of GDP.

Debt-to-GDP ratio is 57.6% in the Seychelles and 31.3% in Vietnam, ranking 85/185 and 156/185, respectively.

Government deficit by year

Deficit/surplus
Seychelles

Vietnam
1x
Year Deficit/surplus, % of GDP
Seychelles Vietnam
2024 -0.69% -1.54%
2023 -1.14% -1.72%
2022 -0.76% 0.67%
2021 -5.76% -1.43%
2020 -15.7% -2.86%
2019 0.42% -0.4%
2018 -0.8% -1.02%
2017 -1.67% -1.96%
2016 0.02% -3.16%
2015 1.39% -4.98%
2014 2.87% -5.02%
2013 0.33% -5.96%
2012 2.93% -5.46%
2011 3.36% -0.9%
2010 0.52% -2.25%
2009 4.84% -4.82%
2008 7.88% -0.45%
2007 -9.93% -1.74%
2006 -2.54% 0.2%
2005 0.42% -0.95%
2004 0.44% -0.15%
2003 3.4% -2.56%
2002 -16.3% -1.85%
2001 -8.93% -2.19%
2000 -14.7% -1.61%
1999 -10.3% -1.25%
1998 -16.7% -0.1%
1997 -5.91% -
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/vietnam | 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 Vietnam's deficit of $7.32B, or 1.54% of GDP.

Over the past 27 years, the Seychelles recorded a fiscal deficit in 14 of those years, while Vietnam ran a deficit in 25 years. On average, the Seychelles posted an annual deficit equal to 2.85% of GDP, compared to deficit of 2.05% of GDP for Vietnam.

Inflation comparison by year

Inflation
Seychelles

Vietnam
1x
Year Consumer prices inflation
Seychelles Vietnam
2024 0.31% 3.6%
2023 -1.04% 3.3%
2022 2.63% 3.2%
2021 9.77% 1.8%
2020 1.2% 3.2%
2019 1.81% 2.8%
2018 3.7% 3.5%
2017 2.86% 3.5%
2016 -1.02% 2.7%
2015 4.04% 0.6%
2014 1.39% 4.1%
2013 4.34% 6.6%
2012 7.11% 9.1%
2011 2.56% 18.7%
2010 -2.4% 9.1%
2009 31.8% 6.7%
2008 37% 23.3%
2007 5.32% 8.4%
2006 -0.35% 7.7%
2005 0.91% 8.3%
2004 3.86% 7.8%
2003 3.3% 3.1%
2002 0.18% 3.8%
2001 5.97% -0.4%
2000 6.27% -1.8%
1999 6.35% 4.1%
1998 2.58% 8.1%
1997 0.62% 3.1%

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/vietnam | CC BY

Over the past 28 years, the Seychelles has recorded an average annual inflation rate of 5.03%, compared with 5.64% in Vietnam. In 2024, inflation was 0.31% in the Seychelles and 3.6% in Vietnam.

Top exports between countries

Seychelles
Export category Export value
Animal & marine products $139K
Textiles & consumer goods $99K
Wood & paper products $59K
Machinery & equipment $19K
Metals $3K
Vietnam
Export category Export value

Balance of trade

Seychelles Vietnam
Current account balance
-$176M
2024
$28B
2024
Current account balance ranking
97/190
2024
18/190
2024
Current account balance, % of GDP
-8.11%
2024
+5.89%
2024
Goods imports
$1.39B
2024
$362B
2024
Goods exports
$595M
2024
$406B
2024
Service imports
$1B
2024
$36.2B
2024
Service exports
$1.71B
2024
$23.9B
2024
Imports of goods and services, % of GDP
103.2%
2024
83.7%
2024
Exports of goods and services, % of GDP
85.2%
2024
90.2%
2024

Economic freedom indices

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

Seychelles Vietnam
Economic freedom 66.5 64.4
Economic freedom ranking 60/197 73/197
Property rights 82.6 47.3
Government integrity 71.7 39.2
Judicial effectiveness 61.7 31.3
Tax burden 77.3 80.9
Government spending 68 89.5
Fiscal health 92.2 96.9
Business freedom 71.3 70
Labor freedom 52 54.7
Monetary freedom 79.8 73.2
Trade freedom 81.2 79.8
Investment freedom 30 60
Financial freedom 30 50

Economic freedom comparison by year

Seychelles
Vietnam
1x
Year Economic freedom index
Seychelles Vietnam
2026 66.5 64.4
2025 66.4 65.2
2024 60.4 62.8
2023 59.5 61.8
2022 61.1 60.6
2021 66.3 61.7
2020 64.3 58.8
2019 61.4 55.3
2018 61.6 53.1
2017 61.8 52.4
2016 62.2 54
2015 57.5 51.7
2014 56.2 50.8
2013 54.9 51
2012 53 51.3
2011 51.2 51.6
2010 47.9 49.8
2009 47.8 51
2008 - 50.4
2007 - 49.8
2006 - 50.5
2005 - 48.1
2004 - 46.1
2003 - 46.2
2002 - 45.6
2001 - 44.3
2000 - 43.7
1999 - 42.7
1998 - 40.4
1997 - 38.6
1996 - 40.2
1995 - 41.7

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

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

The Economic Freedom Index for the Seychelles is 66.5, ranking 60/197, compared to 64.4 for Vietnam, ranking 73/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Seychelles Vietnam
Services, % of GDP
65.8%
2024
42.4%
2024
Industry, % of GDP
12.3%
2024
37.6%
2024
Agriculture, forestry, and fishing, % of GDP
2.45%
2024
11.9%
2024
GNI, Atlas method
$2.12B
2024
$454B
2024
GNI per capita, PPP
$32,180
2024
$15,850
2024
Total reserves including gold
$774M
2024
$83.1B
2024
Total reserves ranking
145/177
2024
30/177
2024
Net foreign direct investment
-$262M
2024
-$19.6B
2024
Net inflows of foreign direct investment
$226M
2024
$20.2B
2024
Net outflows of foreign direct investment
-$35.4M
2024
$600M
2024
Servicing debt to the IMF, % of GNI n/a
7.29%
2024
Poverty at national poverty lines
25.3%
2018
4.2%
2022
Gross capital formation, % of GDP
17.2%
2024
30.6%
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/vietnam | 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 (2021–2024, 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.