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Economy of Sri Lanka vs Tanzania compared: GDP & Debt

Updated on by Georank team

Sri Lanka has a GDP of $99B compared to $78.8B for Tanzania, ranking 72/197 and 82/197 by economy size, respectively.

Sri Lanka has $99.8B in government debt (100.8% of GDP), compared to $39.3B (49.9% of GDP) in Tanzania.

Sri Lanka vs Tanzania GDP by year

Sri Lanka
Tanzania
1x
Year GDP, current $
Sri Lanka Tanzania
2024 $98,963,185,510 $78,844,405,385
2023 $83,716,142,582 $79,030,935,627
2022 $74,143,020,263 $75,749,121,843
2021 $88,556,698,938 $70,655,628,148
2020 $84,335,574,582 $66,068,737,786
2019 $88,998,706,297 $61,026,731,926
2018 $94,450,015,983 $57,003,712,892
2017 $94,369,350,286 $53,274,884,533
2016 $88,000,211,172 $49,774,409,374
2015 $85,090,301,052 $47,413,919,817
2014 $82,531,125,191 $49,986,726,461
2013 $76,976,203,829 $45,648,857,242
2012 $70,447,217,164 $39,650,394,363
2011 $67,753,285,897 $34,657,140,096
2010 $58,636,049,434 $32,012,892,919
2009 $42,066,224,093 $29,400,573,554
2008 $40,713,826,215 $27,947,821,398
2007 $32,350,238,760 $21,860,434,823
2006 $28,267,410,543 $18,619,859,795
2005 $24,405,791,045 $18,395,383,647
2004 $20,662,525,941 $16,673,062,473
2003 $18,881,765,437 $15,211,487,709
2002 $16,536,535,647 $14,129,651,896
2001 $15,749,753,805 $13,563,990,022
2000 $16,595,882,819 $13,371,767,082
1999 $15,711,933,513 $12,704,334,196
1998 $15,760,736,956 $12,172,790,056
1997 $15,091,913,884 $11,158,197,942
1996 $13,897,738,375 $9,433,528,150
1995 $13,029,697,561 $7,631,431,840
1994 $11,717,604,209 $6,550,480,484
1993 $10,338,679,636 $6,182,872,708
1992 $9,703,011,636 $6,681,997,469
1991 $9,000,362,582 $7,197,768,159
1990 $8,032,551,173 $6,184,384,225
1989 $6,987,267,684 $6,418,799,007
1988 $6,978,371,581 $7,406,614,407
1987 $6,682,167,120 $7,824,193,222
1986 $6,405,210,564 $10,840,864,521
1985 $5,978,460,972 $15,328,295,175
1984 $6,043,474,843 $12,906,635,133
1983 $5,167,913,302 $14,049,883,809
1982 $4,768,765,017 $13,927,383,240
1981 $4,415,844,156 $13,161,540,378
1980 $4,024,621,900 $11,409,228,087
1979 $3,364,611,432 $9,804,637,491
1978 $2,733,183,857 $9,261,675,710
1977 $4,104,509,583 $7,732,598,995
1976 $3,591,319,857 $6,472,511,988
1975 $3,791,298,146 $5,729,917,840
1974 $3,574,586,466 $4,977,337,978
1973 $2,875,625,000 $4,144,104,535
1972 $2,553,936,348 $3,472,787,266
1971 $2,369,308,600 $3,050,673,517
1970 $2,296,470,588 $2,851,419,386
1969 $1,965,546,218 $5,142,066,811
1968 $1,801,344,538 $4,895,251,824
1967 $1,859,465,021 $4,565,132,048
1966 $1,751,470,588 $4,377,998,825
1965 $1,698,319,328 $3,817,226,546
1964 $1,309,747,899 $3,748,840,925
1963 $1,240,672,269 $3,456,579,293
1962 $1,434,156,379 $3,101,589,993
1961 $1,444,327,731 $2,826,179,031
1960 $1,409,873,950 $2,651,729,807

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

GeoRank.org/economy/sri-lanka/tanzania | CC BY

GDP per capita in Sri Lanka vs Tanzania by year

Sri Lanka
GDP per capita

GDP per capita, PPP
Tanzania
GDP per capita

GDP per capita, PPP
1x
Year Current $
Sri Lanka Tanzania
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $4,516 $15,633 $1,150 $4,221
2023 $3,799 $14,456 $1,186 $4,019
2022 $3,343 $14,194 $1,171 $3,800
2021 $3,997 $14,316 $1,125 $3,493
2020 $3,848 $12,941 $1,084 $3,291
2019 $4,082 $14,113 $1,031 $2,982
2018 $4,359 $14,178 $992 $2,728
2017 $4,399 $13,610 $957 $2,472
2016 $4,149 $13,079 $925 $2,435
2015 $4,058 $12,227 $911 $2,317
2014 $3,972 $11,721 $993 $2,221
2013 $3,739 $11,253 $935 $2,176
2012 $3,328 $10,249 $837 $2,083
2011 $3,225 $9,076 $753 $2,211
2010 $2,808 $8,234 $715 $2,069
2009 $2,027 $7,576 $674 $1,972
2008 $1,974 $7,317 $657 $1,908
2007 $1,579 $6,820 $528 $1,820
2006 $1,389 $6,261 $462 $1,707
2005 $1,207 $5,679 $469 $1,598
2004 $1,029 $5,216 $438 $1,482
2003 $946 $4,850 $410 $1,379
2002 $835 $4,522 $391 $1,302
2001 $804 $4,328 $385 $1,229
2000 $860 $4,368 $390 $1,164
1999 $829 $4,103 $382 $1,120
1998 $848 $3,952 $375 $1,082
1997 $827 $3,804 $353 $1,059
1996 $776 $3,582 $305 $1,026
1995 $742 $3,454 $251.2 $981
1994 $678 $3,260 $222.5 $958
1993 $607 $3,067 $218.2 $959
1992 $580 $2,851 $243.4 $955
1991 $546 $2,713 $268.8 $952
1990 $491 $2,527 $236.9 $925
1989 $430 - $252.3 -
1988 $434 - $299 -
1987 $420 - $326 -
1986 $407 - $466 -
1985 $385 - $681 -
1984 $391 - $593 -
1983 $336 - $667 -
1982 $312 - $683 -
1981 $292.5 - $665 -
1980 $271.1 - $595 -
1979 $230.8 - $527 -
1978 $191 - $515 -
1977 $292.1 - $446 -
1976 $260.3 - $387 -
1975 $279.8 - $355 -
1974 $268.7 - $320 -
1973 $220.2 - $276.1 -
1972 $199.4 - $239.8 -
1971 $188.8 - $218.4 -
1970 $186.9 - $211.3 -
1969 $163.6 - $394 -
1968 $153.5 - $388 -
1967 $162.3 - $374 -
1966 $156.6 - $370 -
1965 $155.6 - $333 -
1964 $122.9 - $337 -
1963 $119.4 - $320 -
1962 $141.4 - $295.7 -
1961 $145.9 - $277.4 -
1960 $145.9 - $267.8 -

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

GeoRank.org/economy/sri-lanka/tanzania | CC BY

Sri Lanka's GDP per capita is $4,516, ranking 124/197, compared to $1,150 in Tanzania, ranking 170/197. Adjusted for purchasing power (GDP per capita PPP), Sri Lanka ranks 111th at $15,633, while Tanzania ranks 165th at $4,221.

Economic indicators

Sri Lanka Tanzania
Gross domestic product
$99B
2024
$78.8B
2024
GDP rank
72/197
2024
82/197
2024
GDP growth
5.01%
2023-2024
5.53%
2023-2024
GDP per capita
$4,516
2024
$1,150
2024
GDP per capita rank
124/197
2024
170/197
2024
GDP per capita, PPP
$15,633
2024
$4,221
2024
GDP per capita PPP rank
111/197
2024
165/197
2024
Government debt
$99.8B
2024
$39.3B
2024
Debt-to-GDP ratio
100.8%
2024
49.9%
2024
Government debt per person
$4,554
2024
$573
2024
Government debt per person rank
85/185
2024
160/185
2024
Average annual personal income after taxes
$2,874
2026
$2,309
2026
Market capitalization of domestic companies
$19.5B
2024
$7.32B
2024
Number of billionaires n/a
1
2025
Income share by richest 10%
30.8%
2019
33.1%
2018
Income share by poorest 10%
3.1%
2019
2.9%
2018
Government expenditure, % of GDP
19.3%
2024
19.1%
2024
Consumer prices inflation
-0.43%
2023-2024
3.06%
2023-2024
Central bank interest rate
7.75%
2025
6%
2024
Unemployment rate
4.67%
2023
2.43%
2024
Population
22185425
73145892

Spending and national debt comparison by year

Sri Lanka
Spending

Debt
Tanzania
Spending

Debt
1x
Year % of GDP
Sri Lanka Tanzania
Government spending Government debt Government spending Government debt
2024 19.3% 100.8% 19.1% 49.9%
2023 19.5% 110.4% 19% 47.8%
2022 18.6% 115.9% 19.1% 44.9%
2021 20% 102.7% 18.4% 43.4%
2020 22.1% 96.9% 17.4% 41.3%
2019 19.5% 82.6% 17.3% 40.4%
2018 17.5% 83.6% 17.3% 42%
2017 17.9% 72.3% 16.4% 40.1%
2016 18.2% 75% 16.9% 39.8%
2015 19.3% 76.3% 17.2% 39.5%
2014 17.2% 69.6% 17.3% 36.4%
2013 16.6% 69.5% 18.8% 32.7%
2012 17.3% 67.5% 19.6% 30%
2011 19.1% 69.4% 19% 28.4%
2010 19.3% 68.7% 19.8% 27.6%
2009 21% 72.8% 19.6% 23.9%
2008 19.1% 68.8% 18.1% 21.6%
2007 19.9% 71.8% 17.8% 23.8%
2006 20.5% 74.3% 17.6% 17.4%
2005 20.1% 76.6% 18.3% 25.4%
2004 19.3% 86.5% 17% 44.5%
2003 19.3% 86.5% 15.4% 44.4%
2002 20.8% 96.3% 13.6% 47.4%
2001 22.4% 84.4% 12.4% 50.8%
2000 21.7% 79.2% 12.3% 55.4%
1999 20.5% 77.7% 12.8% 62.9%
1998 21.4% 74.2% 11.4% 62.2%
1997 21.4% 70.1% 12.8% 73.4%
1996 23.1% 76.2% 13.4% 89.6%
1995 24.8% 77.8% 15.6% 111.1%
1994 24.1% 77.9% 16.8% 126%
1993 23.2% 79.2% 16.4% 129.2%
1992 23% 77.9% 17.6% 117.6%
1991 26.4% 80.5% 14.2% 106.5%
1990 25.4% 78.9% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1991–2000, retrieved 2026-02-20).

GeoRank.org/economy/sri-lanka/tanzania | CC BY

In 2024, Sri Lanka's government spending was $19.1B, accounting for 19.3% of its GDP, while Tanzania spent $15.1B, or 19.1% of GDP.

Debt-to-GDP ratio is 100.8% in Sri Lanka and 49.9% in Tanzania, ranking 23/185 and 109/185, respectively.

Government deficit by year

Deficit/surplus
Sri Lanka

Tanzania
1x
Year Deficit/surplus, % of GDP
Sri Lanka Tanzania
2024 -5.64% -3.03%
2023 -8.32% -3.67%
2022 -10.2% -3.92%
2021 -11.7% -3.55%
2020 -13.4% -2.56%
2019 -7.52% -2.06%
2018 -4.96% -2.01%
2017 -5.1% -1.14%
2016 -5% -2.08%
2015 -6.64% -3.17%
2014 -5.99% -2.91%
2013 -5% -3.76%
2012 -5.44% -4%
2011 -6.01% -3.51%
2010 -6.73% -4.74%
2009 -8.33% -4.46%
2008 -5.93% -1.92%
2007 -5.81% -1.44%
2006 -5.91% -3.38%
2005 -5.93% -3.28%
2004 -6.32% -2.43%
2003 -6.15% -1.77%
2002 -6.9% -0.73%
2001 -8.48% -0.41%
2000 -7.78% -0.73%
1999 -5.58% -1.14%
1998 -6.79% 0.13%
1997 -5.71% -0.03%
1996 -6.89% 1.57%
1995 -7.11% -2.12%
1994 -7.41% -3.74%
1993 -5.77% -2.02%
1992 -4.95% -4.96%
1991 -7.97% 0.6%
1990 -6.39% -

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

GeoRank.org/economy/sri-lanka/tanzania | CC BY

In 2024, Sri Lanka's government deficit, the difference between spending and revenue, was $5.58B, equivalent to 5.64% of GDP. This compares to Tanzania's deficit of $2.39B, or 3.03% of GDP.

Over the past 34 years, Sri Lanka recorded a fiscal deficit in 34 of those years, while Tanzania ran a deficit in 31 years. On average, Sri Lanka posted an annual deficit equal to 6.86% of GDP, compared to deficit of 2.3% of GDP for Tanzania.

Inflation comparison by year

Inflation
Sri Lanka

Tanzania
1x
Year Consumer prices inflation
Sri Lanka Tanzania
2024 -0.43% 3.06%
2023 16.5% 3.8%
2022 49.7% 4.35%
2021 7.01% 3.69%
2020 6.15% 3.29%
2019 3.53% 3.46%
2018 2.14% 3.49%
2017 7.7% 5.32%
2016 3.96% 5.17%
2015 3.77% 5.59%
2014 3.18% 6.13%
2013 6.91% 7.87%
2012 7.54% 16%
2011 6.72% 12.7%
2010 6.22% 6.2%
2009 3.46% 12.1%
2008 22.6% 10.3%
2007 15.8% 7.03%
2006 10% 7.25%
2005 11.6% 5.03%
2004 7.58% 4.74%
2003 6.31% 5.3%
2002 9.55% 5.32%
2001 14.2% 5.15%
2000 6.18% 5.92%
1999 4.69% 7.89%
1998 9.36% 12.8%
1997 9.57% 16.1%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/sri-lanka/tanzania | CC BY

Over the past 28 years, Sri Lanka has recorded an average annual inflation rate of 9.34%, compared with 6.97% in Tanzania. In 2024, inflation was -0.43% in Sri Lanka and 3.06% in Tanzania.

Top exports between countries

Sri Lanka
Export category Export value
Wood & paper products $6.75M
Raw materials & minerals $5.74M
Chemicals & pharma $1.32M
Machinery & equipment $617K
Processed food, beverages & tobacco $303K
Textiles & consumer goods $161K
Raw agricultural goods $130K
Metals $31K
Animal & marine products $13K
Tanzania
Export category Export value
Machinery & equipment $5.81M
Precious metals & jewellery $1.4M
Raw agricultural goods $505K
Animal & marine products $483K
Processed food, beverages & tobacco $221K
Chemicals & pharma $83K
Textiles & consumer goods $6K
Wood & paper products $2K

Balance of trade

Sri Lanka Tanzania
Current account balance
$1.21B
2024
-$2.38B
2024
Current account balance ranking
53/190
2024
147/190
2024
Current account balance, % of GDP
+1.22%
2024
-3.02%
2024
Goods imports
$18.8B
2024
$14.2B
2024
Goods exports
$12.8B
2024
$9.12B
2024
Service imports
$3.48B
2024
$2.8B
2024
Service exports
$6.91B
2024
$6.85B
2024
Imports of goods and services, % of GDP
22.5%
2024
21.7%
2024
Exports of goods and services, % of GDP
19.9%
2024
19.8%
2024

Economic freedom indices

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

Sri Lanka Tanzania
Economic freedom 50.3 59
Economic freedom ranking 162/197 106/197
Property rights 47.3 45.2
Government integrity 37.3 40.9
Judicial effectiveness 47.2 29.6
Tax burden 77 80.4
Government spending 89 89.1
Fiscal health 0 75
Business freedom 60.1 48.1
Labor freedom 54.3 62.3
Monetary freedom 65.9 73.4
Trade freedom 65.6 58.8
Investment freedom 30 55
Financial freedom 30 50

Economic freedom comparison by year

Sri Lanka
Tanzania
1x
Year Economic freedom index
Sri Lanka Tanzania
2026 50.3 59
2025 49.4 59.3
2024 49.2 59.1
2023 52.2 60
2022 53.3 59.5
2021 55.7 61.3
2020 57.4 61.7
2019 56.4 60.2
2018 57.8 59.9
2017 57.4 58.6
2016 59.9 58.5
2015 58.6 57.5
2014 60 57.8
2013 60.7 57.9
2012 58.3 57
2011 57.1 57
2010 54.6 58.3
2009 56 58.3
2008 58.4 56.5
2007 59.4 56.8
2006 58.7 58.5
2005 61 56.3
2004 61.6 60.1
2003 62.5 56.9
2002 64 58.3
2001 66 54.9
2000 63.2 56
1999 64 60
1998 64.6 59.6
1997 65.5 59.3
1996 62.5 57.5
1995 60.6 57.3

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

GeoRank.org/economy/sri-lanka/tanzania | CC BY

The Economic Freedom Index for Sri Lanka is 50.3, ranking 162/197, compared to 59 for Tanzania, ranking 106/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Sri Lanka Tanzania
Services, % of GDP
57.5%
2024
29.6%
2024
Industry, % of GDP
25.5%
2024
28.6%
2024
Agriculture, forestry, and fishing, % of GDP
8.3%
2024
23.3%
2024
GNI, Atlas method
$84.6B
2024
$80.2B
2024
GNI per capita, PPP
$15,240
2024
$4,130
2024
Total reserves including gold
$6.09B
2024
$5.05B
2018
Total reserves ranking
92/177
2024
101/177
2018
Net foreign direct investment
-$651M
2024
-$1.72B
2024
Net inflows of foreign direct investment
$761M
2024
$1.72B
2024
Net outflows of foreign direct investment
$110M
2024
$0
2024
Servicing debt to the IMF, % of GNI
4.98%
2024
2.57%
2024
Poverty at national poverty lines
14.3%
2019
26.4%
2018
Gross capital formation, % of GDP
27%
2024
39.8%
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/sri-lanka/tanzania | 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 (2022–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1991–2000, 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.