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Economy of Ukraine vs Zambia compared: GDP & Debt

Updated on by Georank

Ukraine has a GDP of $214B compared to $28.9B for Zambia, ranking 57/197 and 116/197 by economy size, respectively.

Ukraine has $233B in government debt (108.7% of GDP), compared to $24.8B (86% of GDP) in Zambia.

Ukraine vs Zambia GDP by year

Ukraine
Zambia
1x
Year GDP, current $
Ukraine Zambia
2025 $214,233,312,784 $28,879,806,220
2024 $190,833,835,445 $25,303,185,342
2023 $181,221,517,869 $27,577,956,471
2022 $161,989,520,721 $29,163,782,140
2021 $199,765,859,571 $22,096,416,932
2020 $156,617,722,013 $18,137,764,931
2019 $153,883,047,510 $23,308,667,781
2018 $130,891,088,294 $26,311,507,274
2017 $112,090,505,082 $25,873,601,261
2016 $93,355,869,404 $20,958,412,538
2015 $91,030,967,789 $21,251,216,799
2014 $133,503,871,862 $27,141,023,558
2013 $190,498,811,460 $28,037,239,463
2012 $182,591,753,828 $25,503,060,420
2011 $169,333,835,202 $23,459,515,276
2010 $141,209,170,427 $20,265,559,484
2009 $121,552,153,444 $15,328,342,304
2008 $188,110,390,660 $17,910,858,638
2007 $148,733,861,386 $14,056,957,976
2006 $111,884,752,475 $12,756,858,899
2005 $89,238,865,119 $8,331,870,169
2004 $67,220,154,164 $6,221,110,219
2003 $52,010,355,753 $4,901,869,764
2002 $43,956,163,612 $4,193,850,445
2001 $39,309,580,983 $4,094,441,301
2000 $32,375,083,935 $3,600,632,111
1999 $31,580,639,554 $3,404,284,891
1998 $41,882,523,345 $3,537,741,942
1997 $50,151,531,592 $4,303,288,480
1996 $44,558,831,005 $3,597,220,962
1995 $48,213,856,469 $3,806,983,413
1994 $52,549,580,265 $3,656,806,166
1993 $65,648,559,903 $3,273,505,344
1992 $73,945,908,384 $3,182,810,841
1991 $77,350,733,982 $3,376,806,697
1990 $81,393,558,423 $3,288,381,797
1989 $82,709,161,099 $3,994,673,161
1988 $74,703,517,903 $3,728,878,149
1987 $64,087,694,038 $2,265,250,972
1986 - $1,664,413,508
1985 - $2,252,454,500
1984 - $2,719,518,933
1983 - $3,321,048,451
1982 - $3,871,117,093
1981 - $4,008,126,497
1980 - $3,884,530,854
1979 - $3,353,445,378
1978 - $2,811,032,473
1977 - $2,515,296,940
1976 - $2,742,859,263
1975 - $2,442,672,141
1974 - $2,910,981,262
1973 - $2,434,255,237
1972 - $1,872,416,680
1971 - $1,653,259,341
1970 - $1,788,779,285
1969 - $1,926,399,230
1968 - $1,573,739,371
1967 - $1,340,639,464
1966 - $1,238,999,505
1965 - $1,061,199,576
1964 - $822,639,671
1963 - $704,339,719
1962 - $679,279,729
1961 - $682,359,727
1960 - $698,739,721

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/ukraine/zambia | CC BY

GDP per capita in Ukraine vs Zambia by year

Ukraine
GDP per capita

GDP per capita, PPP
Zambia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ukraine Zambia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $5,496 - $1,318 -
2024 $5,040 $18,549 $1,187 $4,215
2023 $4,803 $17,665 $1,331 $4,077
2022 $3,946 $14,770 $1,447 $3,841
2021 $4,510 $17,846 $1,127 $3,503
2020 $3,505 $15,541 $952 $3,157
2019 $3,423 $14,217 $1,259 $3,361
2018 $2,895 $12,555 $1,464 $3,442
2017 $2,467 $11,536 $1,483 $3,392
2016 $2,047 $10,865 $1,239 $3,313
2015 $1,988 $9,922 $1,296 $3,337
2014 $2,904 $10,494 $1,707 $3,441
2013 $4,130 $10,904 $1,821 $3,477
2012 $3,951 $9,552 $1,710 $3,324
2011 $3,657 $9,127 $1,625 $3,228
2010 $3,040 $8,453 $1,451 $3,098
2009 $2,607 $7,995 $1,136 $2,872
2008 $4,018 $9,324 $1,376 $2,708
2007 $3,160 $8,900 $1,119 $2,555
2006 $2,366 $7,971 $1,052 $2,378
2005 $1,875 $7,142 $711 $2,213
2004 $1,401 $6,663 $549 $2,068
2003 $1,076 $5,764 $446 $1,942
2002 $903 $5,123 $394 $1,837
2001 $800 $4,747 $397 $1,785
2000 $653 $4,228 $359 $1,709
1999 $632 $3,871 $350 $1,654
1998 $831 $3,794 $373 $1,601
1997 $987 $3,794 $466 $1,631
1996 $870 $3,812 $400 $1,585
1995 $933 $4,124 $433 $1,501
1994 $1,009 $4,565 $426 $1,464
1993 $1,254 $5,766 $391 $1,607
1992 $1,413 $6,568 $389 $1,505
1991 $1,483 $7,148 $423 $1,534
1990 $1,564 $7,591 $422 $1,522
1989 $1,593 - $526 -
1988 $1,444 - $504 -
1987 $1,244 - $315 -
1986 - - $238.2 -
1985 - - $332 -
1984 - - $413 -
1983 - - $520 -
1982 - - $627 -
1981 - - $670 -
1980 - - $669 -
1979 - - $595 -
1978 - - $514 -
1977 - - $474 -
1976 - - $533 -
1975 - - $490 -
1974 - - $601 -
1973 - - $518 -
1972 - - $410 -
1971 - - $372 -
1970 - - $414 -
1969 - - $459 -
1968 - - $387 -
1967 - - $341 -
1966 - - $325 -
1965 - - $287.4 -
1964 - - $230 -
1963 - - $203.2 -
1962 - - $202.3 -
1961 - - $209.7 -
1960 - - $221.6 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/ukraine/zambia | CC BY

Ukraine's GDP per capita is $5,496, ranking 118/197, compared to $1,318 in Zambia, ranking 170/197. Adjusted for purchasing power (GDP per capita PPP), Ukraine ranks 101st at $18,549, while Zambia ranks 166th at $4,215.

Economic indicators

Ukraine Zambia
Gross domestic product
$214B
2025
$28.9B
2025
GDP rank
57/197
2025
116/197
2025
GDP growth
1.82%
2024-2025
3.76%
2024-2025
GDP per capita
$5,496
2025
$1,318
2025
GDP per capita rank
118/197
2025
170/197
2025
GDP per capita, PPP
$18,549
2024
$4,215
2024
GDP per capita PPP rank
101/197
2024
166/197
2024
Government debt
$233B
2025
$24.8B
2025
Debt-to-GDP ratio
108.7%
2025
86%
2025
Government debt per person
$5,977
2025
$1,133
2025
Government debt per person rank
76/185
2025
140/185
2025
Average annual personal income after taxes
$5,580
2026
$1,538
2026
Market capitalization of domestic companies
$4.42B
2018
$14.9B
2025
Number of billionaires
7
2026
n/a
Income share by richest 10%
21.7%
2020
39.1%
2022
Income share by poorest 10%
4.3%
2020
1.5%
2022
Government expenditure, % of GDP
74.5%
2025
29.7%
2025
Consumer prices inflation
12.7%
2024-2025
13.9%
2024-2025
Central bank interest rate
15.5%
2025
13.3%
2026
Unemployment rate
9.83%
2021
5.67%
2024
Population
40408451
22844606

Spending and national debt comparison by year

Ukraine
Spending

Debt
Zambia
Spending

Debt
1x
Year % of GDP
Ukraine Zambia
Government spending Government debt Government spending Government debt
2025 74.5% 108.7% 29.7% 86%
2024 71.2% 89.7% 26.5% 125.2%
2023 73.4% 81.2% 27.4% 129.1%
2022 65.4% 77.7% 28.2% 99.5%
2021 40.5% 48.9% 30.5% 111%
2020 45.6% 60.5% 34% 140%
2019 41.5% 50.5% 29.8% 103.3%
2018 41.9% 60.4% 27.7% 81.2%
2017 41.7% 71.6% 25% 66.6%
2016 40.8% 79.5% 23.9% 61.2%
2015 43% 79.3% 27.6% 61.9%
2014 44.8% 70.3% 24.3% 33.9%
2013 46.3% 39% 24% 25.9%
2012 47.1% 36.1% 21.9% 24.9%
2011 44% 35.5% 19.5% 20.8%
2010 47.3% 39.1% 18.1% 18.9%
2009 46.8% 34.1% 17.8% 20.5%
2008 45.4% 19.7% 19.5% 19.2%
2007 42.1% 11.8% 19.9% 21.9%
2006 42.9% 14.3% 19.7% 25%
2005 42.6% 17.1% 22.5% 75.7%
2004 40.1% 23.9% 23.3% 129.9%
2003 37.5% 28.3% 27.3% 159.5%
2002 36.5% 32.3% 27.6% 180.2%
2001 35.3% 35.3% 28% 210.2%
2000 35.4% 43.7% 21.4% 261%
1999 26.7% 61% - -
1998 38.4% 48.1% - -
1997 42.2% 29.9% - -
1996 38.2% 24.4% - -
1995 42.7% 30.2% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1995–1996, retrieved 2026-07-08).

GeoRank.org/economy/ukraine/zambia | CC BY

In 2025, Ukraine's government spending was $160B, accounting for 74.5% of its GDP, while Zambia spent $8.58B, or 29.7% of GDP.

Debt-to-GDP ratio is 108.7% in Ukraine and 86% in Zambia, ranking 16/185 and 35/185, respectively.

Government deficit by year

Deficit/surplus
Ukraine

Zambia
1x
Year Deficit/surplus, % of GDP
Ukraine Zambia
2025 -23.3% -3.83%
2024 -17.2% -3.46%
2023 -19.3% -5.48%
2022 -15.6% -7.82%
2021 -3.97% -8.13%
2020 -5.92% -13.8%
2019 -2.08% -9.41%
2018 -2.12% -8.31%
2017 -2.36% -7.5%
2016 -2.46% -5.69%
2015 -1.16% -8.88%
2014 -4.46% -5.43%
2013 -4.6% -6.4%
2012 -4.15% -3.16%
2011 -2.66% -1.78%
2010 -5.56% -2.43%
2009 -6.04% -2.06%
2008 -3.02% -0.67%
2007 -1.89% -1.04%
2006 -1.31% 16.9%
2005 -2.19% -2.37%
2004 -4.25% -2.51%
2003 -0.86% -5.31%
2002 -1.77% -4.5%
2001 -2.92% -5.89%
2000 -3.18% 1.16%
1999 5.12% -
1998 -2.78% -
1997 -5.56% -
1996 -3.2% -
1995 -4.88% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08).

GeoRank.org/economy/ukraine/zambia | CC BY

In 2025, Ukraine's government deficit, the difference between spending and revenue, was $50B, equivalent to 23.3% of GDP. This compares to Zambia's deficit of $1.11B, or 3.83% of GDP.

Over the past 26 years, Ukraine recorded a fiscal deficit in 26 of those years, while Zambia ran a deficit in 24 years. On average, Ukraine posted an annual deficit equal to 5.55% of GDP, compared to deficit of 4.14% of GDP for Zambia.

Inflation comparison by year

Inflation
Ukraine

Zambia
1x
Year Consumer prices inflation
Ukraine Zambia
2025 12.7% 13.9%
2024 6.5% 15%
2023 12.9% 10.9%
2022 20.2% 11%
2021 9.4% 22%
2020 2.7% 15.7%
2019 7.9% 9.2%
2018 10.9% 7.5%
2017 14.4% 6.6%
2016 13.9% 17.9%
2015 48.7% 10.1%
2014 12.1% 7.8%
2013 -0.3% 7%
2012 0.6% 6.6%
2011 8% 8.7%
2010 9.4% 8.5%
2009 15.9% 13.4%
2008 25.2% 12.4%
2007 12.8% 10.7%
2006 9.1% 9%
2005 13.5% 18.3%
2004 9% 18%
2003 5.2% 21.4%
2002 0.8% 22.2%
2001 12% 21.4%
2000 28.2% 24.1%
1999 22.7% 23.9%
1998 10.6% 22.7%
1997 15.9% 21.4%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/ukraine/zambia | CC BY

Over the past 29 years, Ukraine has recorded an average annual inflation rate of 12.8%, compared with 14.4% in Zambia. In 2025, inflation was 12.7% in Ukraine and 13.9% in Zambia.

Top exports between countries

Ukraine
Export category Export value
Machinery & equipment $347K
Chemicals & pharma $186K
Animal & marine products $68K
Processed food, beverages & tobacco $40K
Raw materials & minerals $16K
Textiles & consumer goods $12K
Raw agricultural goods $10K
Metals $6K
Wood & paper products $2K
Zambia
Export category Export value
Metals $121K
Raw materials & minerals $10K
Textiles & consumer goods $2K
Machinery & equipment $1K
Processed food, beverages & tobacco $1K

Balance of trade

Ukraine Zambia
Current account balance
-$15.2B
2024
-$1.12B
2024
Current account balance ranking
180/190
2024
121/190
2024
Current account balance, % of GDP
-7.96%
2024
-4.41%
2024
Goods imports
$72.3B
2024
$10.1B
2024
Goods exports
$39.3B
2024
$11.4B
2024
Service imports
$23.1B
2024
$1.99B
2024
Service exports
$17.3B
2024
$1.38B
2024
Imports of goods and services, % of GDP
51.8%
2025
27.6%
2024
Exports of goods and services, % of GDP
25.3%
2025
35%
2024

Economic freedom indices

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

Ukraine Zambia
Economic freedom 54.1 51.9
Economic freedom ranking 135/197 152/197
Property rights 21.6 43.9
Government integrity 35 39.3
Judicial effectiveness 28.2 45
Tax burden 83.7 74.3
Government spending 0 78.1
Fiscal health 3.9 30.9
Business freedom 57.4 53.4
Labor freedom 46.9 48.8
Monetary freedom 65.7 66.6
Trade freedom 73 62.8
Investment freedom 35 40
Financial freedom 30 40

Economic freedom comparison by year

Ukraine
Zambia
1x
Year Economic freedom index
Ukraine Zambia
2026 - 51.9
2025 - 50.9
2024 - 48.4
2023 - 47.8
2022 54.1 48.7
2021 56.2 50.4
2020 54.9 53.5
2019 52.3 53.6
2018 51.9 54.3
2017 48.1 55.8
2016 46.8 58.8
2015 46.9 58.7
2014 49.3 60.4
2013 46.3 58.7
2012 46.1 58.3
2011 45.8 59.7
2010 46.4 58
2009 48.8 56.6
2008 51 56.2
2007 51.5 56.2
2006 54.4 56.8
2005 55.8 55
2004 53.7 54.9
2003 51.1 55.3
2002 48.2 59.6
2001 48.5 59.5
2000 47.8 62.8
1999 43.7 64.2
1998 40.4 62.7
1997 43.5 62.1
1996 40.6 59.6
1995 39.9 55.1

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/ukraine/zambia | CC BY

The Economic Freedom Index for Ukraine is 54.1, ranking 135/197, compared to 51.9 for Zambia, ranking 152/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Ukraine Zambia
Services, % of GDP
61%
2025
57%
2025
Industry, % of GDP
17.9%
2025
35.3%
2025
Agriculture, forestry, and fishing, % of GDP
7.57%
2025
4.11%
2025
GNI, Atlas method
$201B
2025
$26.2B
2025
GNI per capita, PPP
$18,750
2025
$3,990
2025
Total reserves including gold
$57.3B
2025
$4.09B
2024
Total reserves ranking
43/177
2025
111/177
2024
Net foreign direct investment
-$3.71B
2024
-$2.05B
2024
Net inflows of foreign direct investment
$4.02B
2024
$2.36B
2024
Net outflows of foreign direct investment
$305M
2024
$311M
2024
Servicing debt to the IMF, % of GNI
5.4%
2024
17.3%
2024
Poverty at national poverty lines
23.2%
2020
60%
2022
Gross capital formation, % of GDP
20.8%
2025
23.8%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/ukraine/zambia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2021–2025, retrieved 2026-07-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1995–1996, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.