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Economy of Uganda vs Zimbabwe compared: GDP & Debt

Updated on by Georank team

Uganda has a GDP of $53.9B compared to $41.5B for Zimbabwe, ranking 89/197 and 102/197 by economy size, respectively.

Uganda has $27.8B in government debt (51.5% of GDP), compared to $30.3B (73% of GDP) in Zimbabwe.

Uganda vs Zimbabwe GDP by year

Uganda
Zimbabwe
1x
Year GDP, current $
Uganda Zimbabwe
2024 $53,911,907,086 $41,539,411,516
2023 $48,768,955,863 $35,871,779,681
2022 $45,565,333,211 $40,757,561,709
2021 $40,529,788,749 $41,287,673,690
2020 $37,600,368,242 $31,980,334,561
2019 $35,353,061,003 $33,357,695,635
2018 $32,927,025,620 $34,141,666,667
2017 $30,744,473,841 $51,035,657,371
2016 $29,203,988,696 $20,559,250,000
2015 $32,387,183,730 $19,973,250,000
2014 $32,612,397,257 $19,505,500,000
2013 $28,915,786,517 $19,100,750,000
2012 $27,305,915,911 $17,123,500,000
2011 $27,871,725,241 $14,109,000,000
2010 $26,673,441,431 $12,047,750,000
2009 $25,127,805,567 $9,670,750,000
2008 $14,440,404,132 $4,418,000,000
2007 $11,902,564,495 $5,294,750,000
2006 $9,977,647,683 $5,446,750,000
2005 $9,239,221,763 $5,758,250,000
2004 $7,939,487,548 $5,808,500,000
2003 $6,606,884,275 $5,730,500,000
2002 $6,178,563,591 $6,345,250,000
2001 $5,840,503,869 $6,780,750,000
2000 $6,193,246,837 $6,693,250,000
1999 $5,998,563,258 $6,861,500,000
1998 $6,584,815,847 $6,405,250,000
1997 $6,269,333,313 $8,534,000,000
1996 $6,044,585,327 $8,557,500,000
1995 $5,755,818,842 $7,115,000,000
1994 $3,990,430,447 $6,894,250,000
1993 $3,220,439,044 $6,567,250,000
1992 $2,857,457,762 $6,755,000,000
1991 $3,321,729,160 $8,646,000,000
1990 $4,304,399,310 $8,788,301,546
1989 $5,276,480,799 $8,290,553,535
1988 $6,508,931,652 $7,818,774,177
1987 $6,269,522,042 $6,744,657,033
1986 $3,923,244,050 $6,220,698,247
1985 $3,519,695,444 $5,640,137,575
1984 $3,615,647,477 $6,355,369,172
1983 $2,240,333,333 $7,768,031,182
1982 $2,177,500,000 $8,544,060,905
1981 $1,337,300,000 $8,015,464,252
1980 $1,244,610,000 $6,682,278,300
1979 $2,139,025,000 $5,180,102,910
1978 $2,420,260,870 $4,353,822,343
1977 $2,936,470,588 $4,366,610,469
1976 $2,447,300,000 $4,320,576,877
1975 $2,359,555,556 $4,373,532,601
1974 $2,098,944,967 $3,984,194,614
1973 $1,701,829,789 $3,311,043,292
1972 $1,490,970,181 $2,679,096,597
1971 $1,417,191,656 $2,179,828,710
1970 $1,259,554,809 $1,885,168,339
1969 $1,168,556,629 $1,748,891,294
1968 $1,037,379,252 $1,480,355,355
1967 $967,240,655 $1,397,715,282
1966 $925,381,492 $1,282,403,936
1965 $884,502,310 $1,312,105,394
1964 $589,247,687 $1,217,759,447
1963 $516,315,231 $1,160,103,724
1962 $449,158,233 $1,118,172,226
1961 $441,667,335 $1,097,206,526
1960 $423,145,605 $1,053,528,036

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

GeoRank.org/economy/uganda/zimbabwe | CC BY

GDP per capita in Uganda vs Zimbabwe by year

Uganda
GDP per capita

GDP per capita, PPP
Zimbabwe
GDP per capita

GDP per capita, PPP
1x
Year Current $
Uganda Zimbabwe
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,078 $3,273 $2,497 $5,928
2023 $1,002 $3,098 $2,195 $5,791
2022 $963 $2,919 $2,536 $5,396
2021 $883 $2,685 $2,614 $4,827
2020 $846 $2,532 $2,060 $4,179
2019 $822 $2,441 $2,184 $4,166
2018 $792 $2,312 $2,271 $3,993
2017 $765 $2,158 $3,445 $10,756
2016 $753 $2,165 $1,408 $4,275
2015 $863 $2,190 $1,387 $4,046
2014 $896 $2,134 $1,373 $3,903
2013 $818 $2,045 $1,363 $3,784
2012 $795 $2,032 $1,239 $3,472
2011 $836 $2,268 $1,038 $3,047
2010 $823 $2,092 $902 $2,661
2009 $799 $2,015 $736 $2,233
2008 $473 $1,931 $341 $1,987
2007 $401 $1,795 $414 $2,396
2006 $347 $1,660 $431 $2,454
2005 $330 $1,497 $461 $2,496
2004 $292.4 $1,405 $470 $2,591
2003 $250.7 $1,320 $468 $2,708
2002 $242 $1,255 $525 $3,238
2001 $236 $1,173 $566 $3,533
2000 $258.1 $1,124 $563 $3,429
1999 $257.9 $1,100 $582 $3,491
1998 $292.5 $1,037 $552 $3,527
1997 $286.8 $1,007 $751 $3,457
1996 $284.7 $969 $767 $3,372
1995 $278.5 $897 $648 $3,051
1994 $198.4 $809 $634 $3,012
1993 $165.6 $770 $605 $2,703
1992 $152.1 $719 $631 $2,651
1991 $183 $703 $831 $2,930
1990 $245 $666 $867 $2,757
1989 $310 - $840 -
1988 $395 - $816 -
1987 $393 - $726 -
1986 $253.6 - $693 -
1985 $234.3 - $649 -
1984 $247.5 - $757 -
1983 $157.5 - $959 -
1982 $157 - $1,096 -
1981 $98.6 - $1,069 -
1980 $93.8 - $949 -
1979 $164.5 - $779 -
1978 $190.7 - $665 -
1977 $237.6 - $677 -
1976 $203.3 - $687 -
1975 $201.2 - $717 -
1974 $183.7 - $674 -
1973 $152.7 - $579 -
1972 $137 - $483 -
1971 $133.5 - $406 -
1970 $122 - $361 -
1969 $116.7 - $346 -
1968 $106.9 - $302 -
1967 $102.8 - $294.4 -
1966 $101.4 - $278.7 -
1965 $100 - $294.3 -
1964 $68.6 - $281.9 -
1963 $62 - $277.1 -
1962 $55.5 - $275.7 -
1961 $56.2 - $279.2 -
1960 $55.4 - $276.6 -

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

GeoRank.org/economy/uganda/zimbabwe | CC BY

Uganda's GDP per capita is $1,078, ranking 176/197, compared to $2,497 in Zimbabwe, ranking 148/197. Adjusted for purchasing power (GDP per capita PPP), Uganda ranks 176th at $3,273, while Zimbabwe ranks 154th at $5,928.

Economic indicators

Uganda Zimbabwe
Gross domestic product
$53.9B
2024
$41.5B
2024
GDP rank
89/197
2024
102/197
2024
GDP growth
6.06%
2023-2024
1.74%
2023-2024
GDP per capita
$1,078
2024
$2,497
2024
GDP per capita rank
176/197
2024
148/197
2024
GDP per capita, PPP
$3,273
2024
$5,928
2024
GDP per capita PPP rank
176/197
2024
154/197
2024
Government debt
$27.8B
2024
$30.3B
2024
Debt-to-GDP ratio
51.5%
2024
73%
2024
Government debt per person
$555
2024
$1,824
2024
Government debt per person rank
163/185
2024
121/185
2024
Average annual personal income after taxes
$1,466
2026
$2,897
2026
Market capitalization of domestic companies n/a
$2.46B
1999
Number of billionaires n/a
1
2025
Income share by richest 10%
34.5%
2019
40.5%
2019
Income share by poorest 10%
2.4%
2019
1.9%
2019
Government expenditure, % of GDP
18.7%
2024
12.9%
2024
Consumer prices inflation
3.3%
2023-2024
736%
2023-2024
Central bank interest rate
9.75%
2024
35%
2024
Unemployment rate
3.42%
2021
12.1%
2024
Population
53170946
17361868

Spending and national debt comparison by year

Uganda
Spending

Debt
Zimbabwe
Spending

Debt
1x
Year % of GDP
Uganda Zimbabwe
Government spending Government debt Government spending Government debt
2024 18.7% 51.5% 12.9% 73%
2023 19.3% 50.5% 15.5% 76.1%
2022 19.5% 50.2% 14.4% 66.8%
2021 22% 50.3% 12.8% 39.9%
2020 21.4% 46.3% 9.27% 56.8%
2019 18.3% 37.5% 9.36% 53.9%
2018 16.2% 34.9% 13.9% 33%
2017 16.3% 33.6% 19.8% 49%
2016 15.2% 31.3% 16.6% 35.1%
2015 14.9% 28% 14.7% 34.1%
2014 13.6% 24.8% 14.1% 29.2%
2013 13.3% 22.1% 14.7% 26.4%
2012 13.1% 19.5% 14.6% 27.2%
2011 13.2% 18% 16.2% 30%
2010 15.4% 18.4% 12.8% 33.2%
2009 11.8% 14.8% 7.93% 39.7%
2008 12.9% 15.7% 2.54% 41.3%
2007 13.2% 17% 3.43% 30.2%
2006 13.7% 27.8% 5.72% 26.7%
2005 14.5% 42.6% 10.5% 22.4%
2004 15.6% 49% - -
2003 16.5% 55.1% - -
2002 16.8% 54.7% - -
2001 16.2% 51.4% - -
2000 15.2% 48.5% - -
1999 14.7% 47.7% - -
1998 14% 45.1% - -
1997 13.9% 44.2% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1997–2024, retrieved 2026-02-20).

GeoRank.org/economy/uganda/zimbabwe | CC BY

In 2024, Uganda's government spending was $10.1B, accounting for 18.7% of its GDP, while Zimbabwe spent $5.37B, or 12.9% of GDP.

Debt-to-GDP ratio is 51.5% in Uganda and 73% in Zimbabwe, ranking 103/185 and 50/185, respectively.

Government deficit by year

Deficit/surplus
Uganda

Zimbabwe
1x
Year Deficit/surplus, % of GDP
Uganda Zimbabwe
2024 -3.99% -1.06%
2023 -4.87% -3.9%
2022 -5.45% -3.3%
2021 -7.76% -2.24%
2020 -7.76% -0.34%
2019 -4.82% -1.72%
2018 -3.02% -3.81%
2017 -3.83% -7.37%
2016 -2.64% -4.63%
2015 -2.59% -1.45%
2014 -2.74% -0.71%
2013 -3.19% -0.69%
2012 -2.39% -0.13%
2011 -2.04% -1.72%
2010 -4.64% -0.11%
2009 -1.61% -1.39%
2008 -1.99% -1.2%
2007 -0.82% -1.67%
2006 -0.64% -1.4%
2005 -0.17% -3.46%
2004 0.34% -
2003 -0.97% -
2002 -2.07% -
2001 -0.99% -
2000 -0.62% -
1999 -1.24% -
1998 -0.7% -
1997 -0.83% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1997–2024, retrieved 2026-02-20).

GeoRank.org/economy/uganda/zimbabwe | CC BY

In 2024, Uganda's government deficit, the difference between spending and revenue, was $2.15B, equivalent to 3.99% of GDP. This compares to Zimbabwe's deficit of $438M, or 1.06% of GDP.

Over the past 20 years, Uganda recorded a fiscal deficit in 20 of those years, while Zimbabwe ran a deficit in 20 years. On average, Uganda posted an annual deficit equal to 3.35% of GDP, compared to deficit of 2.11% of GDP for Zimbabwe.

Inflation comparison by year

Inflation
Uganda

Zimbabwe
1x
Year Consumer prices inflation
Uganda Zimbabwe
2024 3.3% 736%
2023 5.4% 667%
2022 7.2% 193.4%
2021 2.2% 98.5%
2020 2.8% 557%
2019 2.1% 255.3%
2018 2.5% 10.6%
2017 5.6% 0.9%
2016 5.2% -1.6%
2015 3.7% -2.4%
2014 4.3% -0.2%
2013 5.5% 1.6%
2012 14% 3.7%
2011 18.7% 3.5%
2010 4% 3%
2009 13% 6.2%
2008 12% 157%
2007 6.1% -72.7%
2006 7.2% 33%
2005 8.6% -31.5%
2004 3.7% 113.6%
2003 8.7% -8.6%
2002 -0.3% -34.4%
2001 1.9% -37.2%
2000 3.4% 4.5%
1999 5.8% -13.4%
1998 5.8% -28%
1997 7.7% -1%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

GeoRank.org/economy/uganda/zimbabwe | CC BY

Over the past 28 years, Uganda has recorded an average annual inflation rate of 6.08%, compared with 93.4% in Zimbabwe. In 2024, inflation was 3.3% in Uganda and 736% in Zimbabwe.

Top exports between countries

Uganda
Export category Export value
Machinery & equipment $263K
Miscellaneous $196K
Processed food, beverages & tobacco $125K
Chemicals & pharma $96K
Animal & marine products $25K
Raw materials & minerals $13K
Textiles & consumer goods $9K
Metals $1K
Wood & paper products $1K
Zimbabwe
Export category Export value
Precious metals & jewellery $4.16M
Machinery & equipment $277K
Textiles & consumer goods $63K
Chemicals & pharma $42K
Animal & marine products $15K
Raw agricultural goods $8K
Raw materials & minerals $4K
Miscellaneous $2K

Balance of trade

Uganda Zimbabwe
Current account balance
-$4.29B
2024
$501M
2024
Current account balance ranking
164/190
2024
62/190
2024
Current account balance, % of GDP
-7.96%
2024
+1.21%
2024
Goods imports
$11.7B
2024
$9.06B
2024
Goods exports
$8.67B
2024
$7.79B
2024
Service imports
$4.38B
2024
$1.66B
2024
Service exports
$2.39B
2024
$457M
2024
Imports of goods and services, % of GDP
25.9%
2024
23.4%
2024
Exports of goods and services, % of GDP
16.8%
2024
18%
2024

Economic freedom indices

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

Uganda Zimbabwe
Economic freedom 52.4 35.2
Economic freedom ranking 149/197 190/197
Property rights 42.2 19.4
Government integrity 25.1 20.7
Judicial effectiveness 29.4 16.8
Tax burden 73.4 73.6
Government spending 89 93.9
Fiscal health 58.3 52.4
Business freedom 50.2 42
Labor freedom 55.9 33.3
Monetary freedom 77.1 0
Trade freedom 58 50.4
Investment freedom 30 10
Financial freedom 40 10

Economic freedom comparison by year

Uganda
Zimbabwe
1x
Year Economic freedom index
Uganda Zimbabwe
2026 52.4 35.2
2025 51.3 35.1
2024 50.7 38.2
2023 51.4 39
2022 54.2 33.1
2021 58.6 39.5
2020 59.5 43.1
2019 59.7 40.4
2018 62 44
2017 60.9 44
2016 59.3 38.2
2015 59.7 37.6
2014 59.9 35.5
2013 61.1 28.6
2012 61.9 26.3
2011 61.7 22.1
2010 62.2 21.4
2009 63.5 22.7
2008 63.8 29.5
2007 63.1 32
2006 63.9 33.5
2005 62.9 35.2
2004 64.1 34.4
2003 60.1 36.7
2002 61 36.7
2001 60.4 38.8
2000 58.2 48.7
1999 64.8 47.2
1998 64.7 44.6
1997 66.6 48
1996 66.2 46.7
1995 62.9 48.5

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

GeoRank.org/economy/uganda/zimbabwe | CC BY

The Economic Freedom Index for Uganda is 52.4, ranking 149/197, compared to 35.2 for Zimbabwe, ranking 190/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Uganda Zimbabwe
Services, % of GDP
43.1%
2024
50.6%
2024
Industry, % of GDP
24.9%
2024
35%
2024
Agriculture, forestry, and fishing, % of GDP
24.6%
2024
8.69%
2024
GNI, Atlas method
$50.9B
2024
$39.9B
2024
GNI per capita, PPP
$3,190
2024
$5,870
2024
Total reserves including gold
$3.36B
2018
$485M
2024
Total reserves ranking
114/177
2018
157/177
2024
Net foreign direct investment
-$3.26B
2024
-$465M
2024
Net inflows of foreign direct investment
$3.26B
2024
$465M
2024
Net outflows of foreign direct investment
$400K
2024
$131M
2024
Servicing debt to the IMF, % of GNI
2.96%
2024
3.44%
2024
Poverty at national poverty lines
20.3%
2019
38.3%
2019
Gross capital formation, % of GDP
22.4%
2024
8.85%
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/uganda/zimbabwe | 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 (1997–2024, 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 (2021–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. 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.