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Economy of Singapore vs Yemen compared: GDP & Debt

Updated on by Georank team

Singapore has a GDP of $547B compared to $21.6B for Yemen, ranking 28/197 and 125/197 by economy size, respectively.

Singapore has $950B in government debt (173.5% of GDP), compared to $18.8B (70.9% of GDP) in Yemen.

Singapore vs Yemen GDP by year

Singapore
Yemen
1x
Year GDP, current $
Singapore Yemen
2024 $547,386,645,892 -
2023 $505,439,514,078 -
2022 $509,017,841,147 -
2021 $436,591,382,250 -
2020 $349,165,858,545 -
2019 $376,161,998,830 -
2018 $377,123,710,561 $21,606,160,663
2017 $343,673,334,902 $26,842,229,045
2016 $319,646,468,521 $31,317,825,274
2015 $307,998,545,269 $42,444,490,074
2014 $314,863,580,758 $43,228,585,321
2013 $307,576,360,585 $40,415,233,436
2012 $295,092,888,077 $35,401,331,610
2011 $279,356,499,090 $32,726,417,878
2010 $239,807,980,591 $30,906,749,533
2009 $194,150,283,772 $25,130,278,213
2008 $193,617,323,539 $26,910,855,807
2007 $180,941,701,358 $21,650,528,674
2006 $148,627,286,361 $19,063,143,370
2005 $127,807,848,728 $16,731,566,717
2004 $115,033,593,101 $13,867,634,371
2003 $97,646,401,096 $11,777,532,662
2002 $92,538,372,870 $10,693,430,511
2001 $89,793,790,670 $9,852,990,693
2000 $96,076,539,926 $9,679,316,770
1999 $86,286,849,755 $7,639,325,296
1998 $85,728,207,782 $6,322,175,566
1997 $100,123,787,215 $6,838,298,531
1996 $96,293,086,513 $6,496,163,616
1995 $87,812,540,788 $12,796,345,679
1994 $73,688,724,431 $28,019,483,764
1993 $60,603,815,716 $21,736,802,664
1992 $52,131,320,033 $17,959,367,194
1991 $45,466,164,978 $14,665,445,462
1990 $36,144,336,769 $12,643,821,569
1989 $30,465,364,739 -
1988 $25,371,462,488 -
1987 $20,919,215,578 -
1986 $18,586,746,057 -
1985 $19,156,532,746 -
1984 $19,749,361,098 -
1983 $17,784,112,150 -
1982 $16,084,252,378 -
1981 $14,175,228,844 -
1980 $11,896,256,783 -
1979 $9,296,921,724 -
1978 $7,517,176,355 -
1977 $6,618,585,074 -
1976 $6,327,077,974 -
1975 $5,633,673,930 -
1974 $5,221,534,956 -
1973 $3,696,213,333 -
1972 $2,721,440,981 -
1971 $2,263,785,444 -
1970 $1,920,574,150 -
1969 $1,659,893,768 -
1968 $1,425,706,091 -
1967 $1,238,035,816 -
1966 $1,096,425,608 -
1965 $974,644,096 -
1964 $894,153,311 -
1963 $917,608,012 -
1962 $826,239,212 -
1961 $764,629,788 -
1960 $704,751,700 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/singapore/yemen | CC BY

GDP per capita in Singapore vs Yemen by year

Singapore
GDP per capita

GDP per capita, PPP
Yemen
GDP per capita

GDP per capita, PPP
1x
Year Current $
Singapore Yemen
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $90,674 $150,689 - -
2023 $85,412 $143,786 - -
2022 $90,299 $143,095 - -
2021 $80,056 $132,617 - -
2020 $61,410 $101,518 - -
2019 $65,952 $105,335 - -
2018 $66,882 $103,963 $634 -
2017 $61,236 $95,744 $811 -
2016 $57,006 $89,902 $975 -
2015 $55,646 $87,156 $1,362 -
2014 $57,565 $84,555 $1,430 -
2013 $56,967 $83,088 $1,379 $3,164
2012 $55,548 $82,108 $1,245 $3,005
2011 $53,891 $80,052 $1,186 $3,113
2010 $47,237 $75,401 $1,155 $3,603
2009 $38,927 $66,213 $969 $3,411
2008 $40,009 $67,735 $1,072 $3,370
2007 $39,433 $68,805 $890 $3,294
2006 $33,768 $64,061 $810 $3,205
2005 $29,961 $58,822 $734 $3,113
2004 $27,608 $54,384 $628 $2,949
2003 $23,730 $48,778 $549 $2,844
2002 $22,160 $45,083 $513 $2,768
2001 $21,700 $43,109 $487 $2,702
2000 $23,853 $43,781 $493 $2,624
1999 $21,797 $39,949 $401 $2,492
1998 $21,829 $37,560 $343 $2,442
1997 $26,376 $39,286 $383 $2,351
1996 $26,233 $36,873 $375 $2,268
1995 $24,915 $35,090 $764 $2,201
1994 $21,552 $33,058 $1,735 $2,115
1993 $18,290 $30,062 $1,397 $2,013
1992 $16,136 $27,022 $1,198 $1,963
1991 $14,502 $25,530 $1,016 $1,843
1990 $11,862 $23,815 $910 $1,742
1989 $10,395 - - -
1988 $8,914 - - -
1987 $7,539 - - -
1986 $6,800 - - -
1985 $7,002 - - -
1984 $7,228 - - -
1983 $6,633 - - -
1982 $6,078 - - -
1981 $5,597 - - -
1980 $4,928 - - -
1979 $3,901 - - -
1978 $3,194 - - -
1977 $2,846 - - -
1976 $2,759 - - -
1975 $2,490 - - -
1974 $2,342 - - -
1973 $1,685 - - -
1972 $1,264 - - -
1971 $1,071 - - -
1970 $926 - - -
1969 $813 - - -
1968 $709 - - -
1967 $626 - - -
1966 $567 - - -
1965 $517 - - -
1964 $486 - - -
1963 $511 - - -
1962 $472 - - -
1961 $449 - - -
1960 $428 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/singapore/yemen | CC BY

Singapore's GDP per capita is $90,674, ranking 7/197, compared to $634 in Yemen, ranking 191/197. Adjusted for purchasing power (GDP per capita PPP), Singapore ranks 2nd at $150,689, while Yemen ranks 178th at $3,164.

Economic indicators

Singapore Yemen
Gross domestic product
$547B
2024
$21.6B
2018
GDP rank
28/197
2024
125/197
2018
GDP growth
4.39%
2023-2024
0.75%
2017-2018
GDP per capita
$90,674
2024
$634
2018
GDP per capita rank
7/197
2024
191/197
2018
GDP per capita, PPP
$150,689
2024
$3,164
2013
GDP per capita PPP rank
2/197
2024
178/197
2013
Government debt
$950B
2024
$18.8B
2018
Debt-to-GDP ratio
173.5%
2024
70.9%
2024
Government debt per person
$157,326
2024
$551
2018
Government debt per person rank
1/185
2024
165/185
2018
Average annual personal income after taxes
$52,793
2026
$1,127
2026
Market capitalization of domestic companies
$638B
2024
n/a
Number of millionaires
331,000
2025
n/a
Number of billionaires
49
2025
n/a
Income share by richest 10% n/a
29.4%
2014
Income share by poorest 10% n/a
3%
2014
Government expenditure, % of GDP
14.6%
2024
8.91%
2024
Consumer prices inflation
2.39%
2023-2024
33.9%
2023-2024
Unemployment rate
2.74%
2024
13.5%
2014
Population
6125852
43325643

Spending and national debt comparison by year

Singapore
Spending

Debt
Yemen
Spending

Debt
1x
Year % of GDP
Singapore Yemen
Government spending Government debt Government spending Government debt
2024 14.6% 173.5% 8.91% 70.9%
2023 14.8% 172.8% 11.8% 77.9%
2022 15% 154.3% 12.2% 65.3%
2021 15.6% 141.7% 8.22% 75.9%
2020 24.1% 148.2% 10.6% 87%
2019 14% 127.9% 13.2% 91.5%
2018 13.9% 109.4% 14.3% 86.9%
2017 13.6% 107.6% 8.39% 83.8%
2016 15.3% 106.3% 16.1% 76.5%
2015 14.4% 102.2% 19.4% 57.7%
2014 12.6% 97.7% 27.8% 48.9%
2013 10.9% 98.2% 30.8% 48.4%
2012 9.83% 106.7% 36.2% 47.6%
2011 9.66% 103.1% 29.8% 45.7%
2010 10.2% 98.7% 30.2% 42.4%
2009 15.9% 101.7% 35.2% 49.8%
2008 14% 97.9% 41.2% 36.4%
2007 9.01% 87.8% 40.3% 40.4%
2006 12.3% 86.5% 37.4% 40.8%
2005 12.4% 92.7% 36.8% 43.8%
2004 14.1% 95.7% 34.2% 52.1%
2003 15.6% 99.1% 35.3% 56.8%
2002 15.9% 96.3% 30.8% 57.8%
2001 18.2% 94.5% 30.5% 60.6%
2000 16.1% 82.3% 31.7% 60.8%
1999 15.9% 85.3% 28.2% 96.1%
1998 18.1% 84.6% 34.3% 110.6%
1997 14.5% 70.8% 34.2% 74.2%
1996 18.1% 71.3% 30.7% 114.9%
1995 13.8% 69.8% 24.1% 84.1%
1994 11.7% 70.7% 25.2% 73.3%
1993 14.5% 71.2% 25.8% 76.7%
1992 14.5% 79% 24.6% 78%
1991 15.9% 76.4% 24.7% 82.7%
1990 15.1% 73.5% 26.6% 91.6%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1990–1998, retrieved 2026-02-20).

GeoRank.org/economy/singapore/yemen | CC BY

In 2024, Singapore's government spending was $79.7B, accounting for 14.6% of its GDP, while Yemen spent $3.08B, or 8.91% of GDP.

Debt-to-GDP ratio is 173.5% in Singapore and 70.9% in Yemen, ranking 4/185 and 55/185, respectively.

Government deficit by year

Deficit/surplus
Singapore

Yemen
1x
Year Deficit/surplus, % of GDP
Singapore Yemen
2024 4.44% -2.48%
2023 3.47% -5.63%
2022 1.21% -2.15%
2021 1.13% -0.89%
2020 -6.73% -4.3%
2019 3.77% -5.89%
2018 3.68% -7.85%
2017 5.24% -4.9%
2016 3.25% -8.51%
2015 2.86% -8.75%
2014 4.6% -4.14%
2013 5.96% -6.9%
2012 7.34% -6.32%
2011 7.96% -4.51%
2010 5.68% -4.06%
2009 -0.09% -10.2%
2008 3.59% -4.53%
2007 7.12% -7.18%
2006 2.16% 1.19%
2005 2.56% -1.82%
2004 2.06% -2.15%
2003 0.68% -4.2%
2002 2.23% -0.56%
2001 1.2% 2.79%
2000 4.59% 6.09%
1999 5.2% 0.06%
1998 2.41% -7.77%
1997 5.66% -1.5%
1996 1.98% -0.92%
1995 4.8% -5.74%
1994 7.9% -14%
1993 4.36% -12.8%
1992 2.7% -10.9%
1991 0.68% -5.76%
1990 1.97% -10.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/singapore/yemen | CC BY

In 2018, Singapore's government surplus, the difference between spending and revenue, was $13.9B, equivalent to 3.68% of GDP. This compares to Yemen's deficit of $1.7B, or 7.85% of GDP.

Over the past 29 years, Singapore recorded a fiscal deficit in 1 of those years, while Yemen ran a deficit in 25 years. On average, Singapore posted an annual surplus equal to 3.81% of GDP, compared to deficit of 5.04% of GDP for Yemen.

Inflation comparison by year

Inflation
Singapore

Yemen
1x
Year Consumer prices inflation
Singapore Yemen
2024 2.39% 33.9%
2023 4.83% 0.9%
2022 6.13% 29.5%
2021 2.32% 31.5%
2020 -0.17% 21.7%
2019 0.57% 15.7%
2018 0.44% 33.6%
2017 0.58% 30.4%
2016 -0.53% 21.3%
2015 -0.52% 22%
2014 1.03% 8.2%
2013 2.36% 11%
2012 4.58% 9.9%
2011 5.25% 19.5%
2010 2.83% 11.2%
2009 0.59% 3.7%
2008 6.64% 19%
2007 2.11% 7.9%
2006 0.97% 10.8%
2005 0.43% 9.9%
2004 1.66% 12.5%
2003 0.51% 10.8%
2002 -0.39% 12.2%
2001 1% 11.9%
2000 1.36% 11%
1999 0.02% 7.9%
1998 -0.27% 11.5%
1997 2% 4.6%

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/singapore/yemen | CC BY

Over the past 28 years, Singapore has recorded an average annual inflation rate of 1.74%, compared with 15.5% in Yemen. In 2024, inflation was 2.39% in Singapore and 33.9% in Yemen.

Top exports between countries

Singapore
Export category Export value
Chemicals & pharma $4.67M
Processed food, beverages & tobacco $3.11M
Machinery & equipment $1.19M
Raw materials & minerals $1.12M
Animal & marine products $254K
Raw agricultural goods $188K
Metals $173K
Textiles & consumer goods $52K
Miscellaneous $15K
Wood & paper products $1K
Yemen
Export category Export value
Machinery & equipment $479K
Animal & marine products $106K

Balance of trade

Singapore Yemen
Current account balance
$96B
2024
-$2.42B
2016
Current account balance ranking
8/190
2024
148/190
2016
Current account balance, % of GDP
+17.5%
2024
-7.72%
2016
Goods imports
$435B
2024
$6.8B
2016
Goods exports
$583B
2024
$473M
2016
Service imports
$351B
2024
$1.46B
2016
Service exports
$396B
2024
$466M
2016
Imports of goods and services, % of GDP
143.6%
2024
47.3%
2018
Exports of goods and services, % of GDP
178.8%
2024
8.76%
2018

Economic freedom indices

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

Singapore Yemen
Economic freedom 84.4 53.7
Economic freedom ranking 1/197 138/197
Property rights 89.2 3.5
Government integrity 86.1 6.2
Judicial effectiveness 58.3 9.9
Tax burden 89.5 93.7
Government spending 93.4 0
Fiscal health 80 71.2
Business freedom 90.6 31.3
Labor freedom 77 31.2
Monetary freedom 83.5 48.1
Trade freedom 95 67.4
Investment freedom 90 50
Financial freedom 80 30

Economic freedom comparison by year

Singapore
Yemen
1x
Year Economic freedom index
Singapore Yemen
2026 84.4 -
2025 84.1 -
2024 83.5 -
2023 83.9 -
2022 84.4 -
2021 89.7 -
2020 89.4 -
2019 89.4 -
2018 88.8 -
2017 88.6 -
2016 87.8 -
2015 89.4 53.7
2014 89.4 55.5
2013 88 55.9
2012 87.5 55.3
2011 87.2 54.2
2010 86.1 54.4
2009 87.1 56.9
2008 87.3 53.8
2007 87.1 54.1
2006 88 52.6
2005 88.6 53.8
2004 88.9 50.5
2003 88.2 50.3
2002 87.4 48.6
2001 87.8 44.3
2000 87.7 44.5
1999 86.9 43.3
1998 87 46.1
1997 87.3 48.4
1996 86.5 49.6
1995 86.3 49.8

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

GeoRank.org/economy/singapore/yemen | CC BY

The Economic Freedom Index for Singapore is 84.4, ranking 1/197, compared to 53.7 for Yemen, ranking 138/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Singapore Yemen
Services, % of GDP
73%
2024
41.8%
2018
Industry, % of GDP
21.4%
2024
25.4%
2018
Agriculture, forestry, and fishing, % of GDP
0.03%
2024
28.7%
2018
GNI, Atlas method
$451B
2024
$25.3B
2018
GNI per capita, PPP
$126,190
2024
$3,020
2013
Total reserves including gold
$384B
2024
$1.25B
2022
Total reserves ranking
9/177
2024
139/177
2022
Net foreign direct investment
-$96.7B
2024
$15.4M
2015
Net inflows of foreign direct investment
$152B
2024
-$371M
2019
Net outflows of foreign direct investment
$55.3B
2024
$0
2024
Servicing debt to the IMF, % of GNI n/a
0.53%
2018
Poverty at national poverty lines n/a
48.6%
2014
Gross capital formation, % of GDP
22.2%
2024
6.18%
2018

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/singapore/yemen | 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. TradeMap (2015–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1990–1998, retrieved 2026-02-20)
  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.