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Economy of Singapore vs Tajikistan compared: GDP & Debt

Updated on by Georank team

Singapore has a GDP of $547B compared to $14.2B for Tajikistan, ranking 27/197 and 145/197 by economy size, respectively.

Singapore has $954B in government debt (174.9% of GDP), compared to $4.2B (28.4% of GDP) in Tajikistan.

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

Singapore
GDP, current $

GDP, constant 2015 $
Tajikistan
GDP, current $

GDP, constant 2015 $
Year GDP
Singapore Tajikistan
Current $ Constant $ Current $ Constant $
1960 $704,751,700 $5,946,720,492 - -
1961 $764,629,788 $6,430,636,626 - -
1962 $826,239,212 $6,916,371,175 - -
1963 $917,608,012 $7,610,786,827 - -
1964 $894,153,311 $7,374,611,314 - -
1965 $974,644,096 $7,952,357,573 - -
1966 $1,096,425,608 $8,761,915,153 - -
1967 $1,238,035,816 $9,857,909,188 - -
1968 $1,425,706,091 $11,191,387,995 - -
1969 $1,659,893,768 $12,739,585,038 - -
1970 $1,920,574,150 $14,515,738,367 - -
1971 $2,263,785,444 $16,317,640,427 - -
1972 $2,721,440,981 $18,490,426,054 - -
1973 $3,696,213,333 $20,450,966,487 - -
1974 $5,221,534,956 $21,702,034,804 - -
1975 $5,633,673,930 $22,567,672,249 - -
1976 $6,327,077,974 $24,246,067,681 - -
1977 $6,618,585,074 $25,907,515,502 - -
1978 $7,517,176,355 $27,922,390,122 - -
1979 $9,296,921,724 $30,590,220,574 - -
1980 $11,896,256,783 $33,683,923,408 - -
1981 $14,175,228,844 $37,327,150,728 - -
1982 $16,084,252,378 $39,978,179,041 - -
1983 $17,784,112,150 $43,398,105,213 - -
1984 $19,749,361,098 $47,213,790,846 - -
1985 $19,156,532,746 $46,919,789,791 - $6,548,213,772
1986 $18,586,746,057 $47,549,833,615 - $6,777,401,246
1987 $20,919,215,578 $52,684,232,539 - $6,696,072,428
1988 $25,371,462,488 $58,618,369,611 - $7,626,826,568
1989 $30,465,364,739 $64,573,309,330 - $7,131,082,791
1990 $36,144,336,769 $70,914,989,180 $2,629,395,066 $7,088,296,320
1991 $45,466,164,978 $75,658,065,572 $2,536,585,366 $6,585,027,346
1992 $52,131,320,033 $80,681,614,024 $1,908,554,572 $4,675,369,346
1993 $60,603,815,716 $89,927,445,311 $1,646,623,195 $3,908,608,781
1994 $73,688,724,431 $99,905,515,247 $1,522,001,206 $3,076,075,188
1995 $87,812,540,788 $107,074,136,708 $1,231,561,860 $2,694,139,780
1996 $96,293,086,513 $115,074,063,972 $1,043,654,822 $2,244,218,479
1997 $100,123,787,215 $124,643,863,764 $921,518,033 $2,281,936,479
1998 $85,728,207,782 $121,912,898,005 $1,320,199,582 $2,403,172,744
1999 $86,286,849,755 $128,884,330,733 $1,086,612,290 $2,492,079,339
2000 $96,076,539,926 $140,533,304,239 $860,541,842 $2,699,528,109
2001 $89,793,790,670 $139,028,385,431 $1,080,772,551 $2,958,165,475
2002 $92,538,372,870 $144,482,970,560 $1,221,106,220 $3,277,647,458
2003 $97,646,401,096 $151,054,425,109 $1,555,318,261 $3,638,188,648
2004 $115,033,593,101 $166,069,208,808 $2,076,176,869 $4,012,922,040
2005 $127,807,848,728 $178,302,402,124 $2,312,352,021 $4,281,787,757
2006 $148,627,286,361 $194,361,682,396 $2,830,213,849 $4,581,513,037
2007 $180,941,701,358 $211,896,059,498 $3,719,524,541 $4,938,871,060
2008 $193,617,323,539 $215,844,707,508 $5,161,299,725 $5,329,041,788
2009 $194,150,283,772 $216,120,888,113 $4,979,472,364 $5,536,874,479
2010 $239,807,980,591 $247,501,100,140 $5,642,221,099 $5,896,771,270
2011 $279,356,499,090 $262,883,130,580 $6,522,756,255 $6,333,132,379
2012 $295,092,888,077 $274,543,305,512 $7,633,036,903 $6,808,117,273
2013 $307,576,360,585 $287,769,788,882 $8,448,411,318 $7,311,917,934
2014 $314,863,580,758 $299,095,084,829 $9,112,605,459 $7,801,816,486
2015 $307,998,545,269 $307,998,545,269 $8,271,431,485 $8,271,431,485
2016 $319,646,468,521 $319,541,032,495 $6,992,416,097 $8,842,160,258
2017 $343,673,334,902 $333,846,562,290 $7,536,402,853 $9,469,953,673
2018 $377,123,710,561 $345,370,865,383 $7,764,999,999 $10,189,670,047
2019 $376,161,998,830 $349,888,458,531 $8,300,813,599 $10,943,705,647
2020 $349,165,858,545 $336,541,232,521 $8,133,963,551 $11,425,228,817
2021 $436,591,382,250 $369,376,902,515 $8,937,805,347 $12,499,200,275
2022 $509,017,841,147 $384,550,906,479 $10,713,525,200 $13,499,136,339
2023 $505,439,514,078 $391,555,143,382 $12,244,169,293 $14,619,564,550
2024 $547,386,645,892 $408,736,675,577 $14,204,575,549 $15,847,607,944

Economic indicators

Singapore Tajikistan
Gross domestic product
$547B
2024
$14.2B
2024
GDP rank
27/197
2024
145/197
2024
GDP growth
8.3%
2023-2024
16%
2023-2024
GDP per capita
$90,674
2024
$1,341
2024
GDP per capita rank
7/197
2024
167/197
2024
GDP per capita, PPP
$150,689
2024
$5,406
2024
Government debt
$954B
2024
$4.2B
2024
Debt-to-GDP ratio
174.9%
2025
28.4%
2025
Government debt per person
$158,044
2024
$396
2024
Government debt per person rank
1/185
2024
171/185
2024
Average annual personal income after taxes
$55,248
2025
$2,250
2025
Market capitalization of domestic companies
$638B
2024
n/a
Number of millionaires
333,204
2024
n/a
Number of billionaires
49
2025
n/a
Income share by richest 10% n/a
28.2%
2024
Income share by poorest 10% n/a
2.9%
2024
Government expenditure, % of GDP
16.7%
2025
30.3%
2025
Consumer prices inflation
2.39%
2023-2024
3.8%
2024-2025
Central bank interest rate n/a
7.75%
2025
Unemployment rate
2.74%
2024
0.08%
2016
Population
6105665
10940854

GDP per capita in Singapore vs Tajikistan

Singapore's GDP per capita is $90,674, ranking 7/197, compared to $1,341 in Tajikistan, ranking 167/197. Adjusted for purchasing power (GDP per capita PPP), Singapore ranks 2nd at $150,689, while Tajikistan ranks 156th at $5,406.

Singapore
GDP per capita

GDP per capita, PPP
Tajikistan
GDP per capita

GDP per capita, PPP
Year Current $
Singapore Tajikistan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $428 - - -
1961 $449 - - -
1962 $472 - - -
1963 $511 - - -
1964 $486 - - -
1965 $517 - - -
1966 $567 - - -
1967 $626 - - -
1968 $709 - - -
1969 $813 - - -
1970 $926 - - -
1971 $1,071 - - -
1972 $1,264 - - -
1973 $1,685 - - -
1974 $2,342 - - -
1975 $2,490 - - -
1976 $2,759 - - -
1977 $2,846 - - -
1978 $3,194 - - -
1979 $3,901 - - -
1980 $4,928 - - -
1981 $5,597 - - -
1982 $6,078 - - -
1983 $6,633 - - -
1984 $7,228 - - -
1985 $7,002 - - -
1986 $6,800 - - -
1987 $7,539 - - -
1988 $8,914 - - -
1989 $10,395 - - -
1990 $11,862 $23,815 $487 $2,583
1991 $14,502 $25,530 $458 $2,417
1992 $16,136 $27,022 $338 $1,721
1993 $18,290 $30,062 $287.6 $1,454
1994 $21,552 $33,058 $261.3 $1,148
1995 $24,915 $35,090 $207 $1,006
1996 $26,233 $36,873 $172 $836
1997 $26,376 $39,286 $150.1 $855
1998 $21,829 $37,560 $213.7 $905
1999 $21,797 $39,949 $175 $947
2000 $23,853 $43,781 $136.9 $1,036
2001 $21,700 $43,109 $168.7 $1,139
2002 $22,160 $45,083 $187 $1,257
2003 $23,730 $48,778 $233.6 $1,396
2004 $27,608 $54,384 $306 $1,550
2005 $29,961 $58,822 $334 $1,673
2006 $33,768 $64,061 $401 $1,810
2007 $39,433 $68,805 $517 $1,966
2008 $40,009 $67,735 $703 $2,120
2009 $38,927 $66,213 $665 $2,171
2010 $47,237 $75,401 $737 $2,291
2011 $53,891 $80,052 $834 $2,456
2012 $55,548 $82,108 $952 $2,679
2013 $56,967 $83,088 $1,028 $2,919
2014 $57,565 $84,555 $1,082 $3,152
2015 $55,646 $87,156 $957 $2,975
2016 $57,006 $89,902 $789 $2,914
2017 $61,236 $95,744 $829 $3,017
2018 $66,882 $103,963 $834 $3,069
2019 $65,952 $105,335 $871 $3,460
2020 $61,410 $101,518 $834 $3,654
2021 $80,056 $132,617 $897 $3,986
2022 $90,299 $143,095 $1,052 $4,514
2023 $85,412 $143,786 $1,178 $4,964
2024 $90,674 $150,689 $1,341 $5,406

Spending and national debt comparison

In 2024, Singapore's government spending was $79.4B, accounting for 16.7% of its GDP, while Tajikistan's spent $4.27B, or 30.3% of GDP.

Debt-to-GDP ratio is 174.9% in Singapore and 28.4% in Tajikistan, ranking 5/185 and 161/185, respectively.

Singapore
Government spending

Government debt
Tajikistan
Government spending

Government debt
Year % of GDP
Singapore Tajikistan
Government spending Government debt Government spending Government debt
1990 15.1% 73.5% - -
1991 15.9% 76.4% - -
1992 14.5% 79% - -
1993 14.5% 71.2% - -
1994 11.7% 70.7% - -
1995 13.8% 69.8% - -
1996 18.1% 71.3% - -
1997 14.5% 70.8% - -
1998 18.1% 84.6% 17.1% 96.6%
1999 15.9% 85.3% 17.5% 107.8%
2000 16.1% 82.3% 18.1% 111.4%
2001 18.2% 94.5% 17.3% 99.4%
2002 15.9% 96.3% 19.1% 98.3%
2003 15.6% 99.1% 19.1% 69.8%
2004 14.1% 95.7% 20.2% 49.4%
2005 12.4% 92.7% 22.9% 45.8%
2006 12.3% 86.5% 21.6% 36.8%
2007 9.01% 87.8% 20.3% 34.3%
2008 14% 97.9% 20.2% 30.2%
2009 15.9% 101.7% 23.6% 36.9%
2010 10.2% 98.7% 25.9% 36.8%
2011 9.66% 103.1% 24.3% 35.5%
2012 9.83% 106.7% 24.7% 32.5%
2013 10.9% 98.2% 27.7% 29.3%
2014 12.6% 97.7% 27.5% 27.9%
2015 14.4% 102.2% 31.9% 35%
2016 15.3% 106.3% 32.7% 42.2%
2017 13.6% 107.6% 33.8% 46.3%
2018 13.9% 109.4% 30.9% 46.6%
2019 14% 127.9% 28.8% 43.5%
2020 24.1% 148.2% 29.2% 51.8%
2021 15.6% 141.7% 27.6% 42.1%
2022 15% 154.3% 28% 32.5%
2023 14.8% 172.8% 31% 30.9%
2024 14.5% 174.3% 30% 29.5%
2025 16.7% 174.9% 30.3% 28.4%

Government deficit by year

In 2024, Singapore's government surplus, the difference between spending and revenue, was $24.2B, equivalent to 4.43% of GDP. This compares to Tajikistan's deficit of -$355M, or -2.5% of GDP.

Over the past 27 years, Singapore recorded a fiscal deficit in 2 of those years, while Tajikistan ran a deficit in 21 years. On average, Singapore posted an annual surplus equal to +3.24% of GDP, compared to deficit of -1.66% of GDP for Tajikistan.

Deficit/surplus
Singapore

Tajikistan
Year Deficit/surplus, % of GDP
Singapore Tajikistan
1990 1.97% -
1991 0.68% -
1992 2.7% -
1993 4.36% -
1994 7.9% -
1995 4.8% -
1996 1.98% -
1997 5.66% -
1998 2.41% -5.09%
1999 5.2% -4.03%
2000 4.59% -4.51%
2001 1.2% -2.11%
2002 2.23% -2.4%
2003 0.68% -1.74%
2004 2.06% -2.32%
2005 2.56% -2.83%
2006 2.16% 2%
2007 7.12% 2.13%
2008 3.59% 1.94%
2009 -0.09% -0.2%
2010 5.68% -2.71%
2011 7.96% 0.6%
2012 7.34% 0.41%
2013 5.96% -0.73%
2014 4.6% 0.92%
2015 2.86% -1.96%
2016 3.25% -2.91%
2017 5.24% -5.65%
2018 3.68% -2.69%
2019 3.77% -2.04%
2020 -6.73% -4.34%
2021 1.13% -0.67%
2022 1.21% -0.23%
2023 3.47% -1.27%
2024 4.43% -2.5%
2025 3.05% -2.5%

Inflation comparison by year

Over the past 29 years, Singapore has recorded an average annual inflation rate of 1.73%, compared with 29% in Tajikistan. In 2024, inflation was 2.39% in Singapore and 3.8% in Tajikistan.

Inflation
Singapore

Tajikistan
Year Inflation
Singapore Tajikistan Singapore Tajikistan
1996 1.38% 419%
1997 2% 88%
1998 -0.27% 43.2%
1999 0.02% 27.5%
2000 1.36% 32.9%
2001 1% 38.6%
2002 -0.39% 12.2%
2003 0.51% 16.4%
2004 1.66% 7.2%
2005 0.43% 7.3%
2006 0.97% 10%
2007 2.11% 13.2%
2008 6.64% 20.4%
2009 0.59% 6.4%
2010 2.83% 6.5%
2011 5.25% 12.4%
2012 4.58% 5.8%
2013 2.36% 5%
2014 1.03% 6.1%
2015 -0.52% 5.8%
2016 -0.53% 5.9%
2017 0.58% 7.3%
2018 0.44% 3.8%
2019 0.57% 7.8%
2020 -0.17% 8.6%
2021 2.32% 9%
2022 6.13% 6.6%
2023 4.83% 3.7%
2024 2.39% 3.5%
2025 - 3.8%

Top exports between countries

Singapore
Export category Export value
Machinery & equipment $709K
Raw materials & minerals $392K
Textiles & consumer goods $43K
Chemicals & pharma $17K
Processed food, beverages & tobacco $2K
Metals $1K
Wood & paper products $1K
Tajikistan
Export category Export value
Raw materials & minerals $9.92M
Machinery & equipment $315K
Metals $35K

Balance of trade

Singapore Tajikistan
Current account balance
$96B
2024
$887M
2024
Current account balance ranking
7/189
2024
53/189
2024
Current account balance, % of GDP
+17.5%
2024
+6.24%
2024
Goods imports
$435B
2024
$5.94B
2024
Goods exports
$583B
2024
$1.42B
2024
Service imports
$351B
2024
$971M
2024
Service exports
$396B
2024
$195M
2024
Imports of goods and services, % of GDP
143.6%
2024
48.4%
2023
Exports of goods and services, % of GDP
178.8%
2024
17.2%
2023

Economic freedom indices

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

Singapore Tajikistan
Economic freedom 84.1 51.5
Economic freedom ranking 1/197 152/197
Property rights 94.3 28.8
Government integrity 86.4 15.7
Judicial effectiveness 58.3 11.2
Tax burden 89.9 92.3
Government spending 92.9 75
Fiscal health 73.9 97.3
Business freedom 90.6 56.2
Labor freedom 77.1 43.6
Monetary freedom 81 71
Trade freedom 95 72.2
Investment freedom 90 25
Financial freedom 80 30

Economic freedom by year comparison

The Economic Freedom Index for Singapore is 84.1, ranking 1/197, compared to 51.5 for Tajikistan, ranking 152/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Singapore
Tajikistan
Year Economic freedom index
Singapore Tajikistan
1995 86.3 -
1996 86.5 -
1997 87.3 -
1998 87 41.1
1999 86.9 41.2
2000 87.7 44.8
2001 87.8 46.8
2002 87.4 47.3
2003 88.2 46.5
2004 88.9 48.7
2005 88.6 50.4
2006 88 52.6
2007 87.1 53.6
2008 87.3 54.4
2009 87.1 54.6
2010 86.1 53
2011 87.2 53.5
2012 87.5 53.4
2013 88 53.4
2014 89.4 52
2015 89.4 52.7
2016 87.8 51.3
2017 88.6 58.2
2018 88.8 58.3
2019 89.4 55.6
2020 89.4 52.2
2021 89.7 55.2
2022 84.4 49.7
2023 83.9 50.6
2024 83.5 51.3
2025 84.1 51.5

More economic indicators

Singapore Tajikistan
Services, % of GDP
73%
2024
34.7%
2023
Industry, % of GDP
21.4%
2024
33.6%
2023
Agriculture, forestry, and fishing, % of GDP
0.03%
2024
22.9%
2023
GNI, Atlas method
$451B
2024
$17.5B
2024
GNI per capita, PPP
$126,190
2024
$7,100
2024
Total reserves including gold
$384B
2024
$3.3B
2023
Total reserves ranking
9/177
2024
117/177
2023
Net foreign direct investment
-$96.7B
2024
-$190M
2024
Net inflows of foreign direct investment
$152B
2024
$291M
2024
Net outflows of foreign direct investment
$55.3B
2024
$101M
2024
Servicing debt to the IMF, % of GNI
n/a
3.78%
2023
Poverty at national poverty lines n/a
19.8%
2024
Gross capital formation, % of GDP
22.2%
2024
31.7%
2023

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.