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Economy of Armenia vs Curacao compared: GDP & Debt

Updated on by Georank team

Armenia has a GDP of $26B compared to $3.56B for Curacao, ranking 114/197 and 167/197 by economy size, respectively.

Armenia vs Curacao GDP by year

Armenia
Curacao
1x
Year GDP, current $
Armenia Curacao
2024 $25,955,275,380 $3,561,178,196
2023 $24,185,982,216 $3,281,419,347
2022 $19,513,506,553 $3,075,180,835
2021 $13,878,908,629 $2,739,594,360
2020 $12,641,698,583 $2,534,327,592
2019 $13,619,290,539 $3,026,124,116
2018 $12,457,940,695 $3,046,364,820
2017 $11,527,458,709 $3,033,433,248
2016 $10,546,136,236 $3,024,690,188
2015 $10,553,337,518 $3,058,779,212
2014 $11,609,513,247 $3,059,406,995
2013 $11,121,464,437 $3,033,568,606
2012 $10,619,320,683 $3,012,836,257
2011 $10,142,111,825 $2,930,092,237
2010 $9,260,285,756 $2,951,342,793
2009 $8,647,937,081 $2,869,153,184
2008 $11,662,040,714 $2,833,476,145
2007 $9,206,301,270 $2,593,831,508
2006 $6,384,452,067 $2,457,581,732
2005 $4,900,469,511 $2,344,637,263
2004 $3,576,615,240 $2,237,160,503
2003 $2,807,061,009 $2,202,117,374
2002 $2,376,335,048 $2,160,784,693
2001 $2,118,467,913 $2,143,450,726
2000 $1,911,563,669 $2,120,511,229
1999 $1,845,482,173 -
1998 $1,893,726,437 -
1997 $1,639,492,445 -
1996 $1,596,968,946 -
1995 $1,468,317,435 -
1994 $1,315,158,637 -
1993 $1,201,312,829 -
1992 $1,272,835,453 -
1991 $2,069,870,130 -
1990 $2,256,863,449 -

Data sources: World Bank | Economy & Growth (1990–2024, retrieved 2026-04-06).

GeoRank.org/economy/armenia/curacao | CC BY

GDP per capita in Armenia vs Curacao by year

Armenia
GDP per capita

GDP per capita, PPP
Curacao
GDP per capita

GDP per capita, PPP
1x
Year Current $
Armenia Curacao
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $8,556 $22,823 $22,833 $32,693
2023 $8,159 $21,534 $21,218 $30,652
2022 $6,572 $19,161 $20,057 $28,641
2021 $4,685 $15,922 $17,796 $24,906
2020 $4,269 $14,706 $16,300 $21,722
2019 $4,597 $14,976 $19,221 $25,397
2018 $4,196 $12,877 $19,119 $24,623
2017 $3,869 $12,066 $18,938 $24,322
2016 $3,524 $10,570 $18,944 $23,650
2015 $3,512 $9,757 $19,362 $24,038
2014 $3,852 $9,736 $19,623 $24,348
2013 $3,680 $9,455 $19,721 $24,822
2012 $3,512 $8,943 $19,810 $25,106
2011 $3,350 $7,624 $19,426 $26,251
2010 $3,041 $7,095 $19,847 $25,957
2009 $2,821 $6,812 $19,540 $25,950
2008 $3,778 $7,827 $19,423 $26,098
2007 $2,963 $7,137 $18,006 $25,374
2006 $2,042 $6,073 $17,400 $24,590
2005 $1,557 $5,172 $17,032 $24,081
2004 $1,130 $4,377 $16,671 $23,791
2003 $882 $3,836 $16,696 $23,522
2002 $743 $3,282 $16,724 $23,480
2001 $660 $2,844 $16,610 $23,057
2000 $593 $2,531 $15,841 $21,891
1999 $583 $2,377 - -
1998 $590 $2,239 - -
1997 $505 $2,040 - -
1996 $487 $1,922 - -
1995 $444 $1,767 - -
1994 $391 $1,591 - -
1993 $348 $1,440 - -
1992 $356 $1,492 - -
1991 $573 $2,477 - -
1990 $635 $2,760 - -

Data sources: World Bank | Economy & Growth (1990–2024, retrieved 2026-04-06).

GeoRank.org/economy/armenia/curacao | CC BY

Armenia's GDP per capita is $8,556, ranking 90/197, compared to $22,833 in Curacao, ranking 56/197. Adjusted for purchasing power (GDP per capita PPP), Armenia ranks 86th at $22,823, while Curacao ranks 70th at $32,693.

Economic indicators

Armenia Curacao
Gross domestic product
$26B
2024
$3.56B
2024
GDP rank
114/197
2024
167/197
2024
GDP growth
5.9%
2023-2024
5.03%
2023-2024
GDP per capita
$8,556
2024
$22,833
2024
GDP per capita rank
90/197
2024
56/197
2024
GDP per capita, PPP
$22,823
2024
$32,693
2024
GDP per capita PPP rank
86/197
2024
70/197
2024
Government debt
$13B
2024
n/a
Debt-to-GDP ratio
50%
2024
n/a
Government debt per person
$4,275
2024
n/a
Government debt per person rank
89/185
2024
n/a
Average annual personal income after taxes
$6,687
2026
$14,995
2026
Market capitalization of domestic companies
$4.85B
2024
n/a
Number of billionaires
1
2025
n/a
Income share by richest 10%
22.9%
2023
n/a
Income share by poorest 10%
4%
2023
n/a
Government expenditure, % of GDP
29%
2024
31%
2025
Consumer prices inflation
0.4%
2023-2024
2.62%
2018-2019
Central bank interest rate
6.75%
2025
4.5%
2025
Unemployment rate
8.3%
2023
19.1%
2020
Population
2989841
155976

Inflation comparison by year

Inflation
Armenia

Curacao
1x
Year Consumer prices inflation
Armenia Curacao
2024 0.4% -
2023 2% -
2022 8.8% -
2021 7.5% -
2020 1.5% -
2019 1.5% 2.62%
2018 2.5% 2.58%
2017 0.9% 1.59%
2016 -1.4% -0.05%
2015 3.7% -0.48%
2014 3% 1.5%
2013 5.7% 1.33%
2012 2.5% 3.18%
2011 7.5% 2.33%
2010 8.2% 2.78%
2009 3.5% 1.75%
2008 9.1% 6.88%
2007 4.4% 3%
2006 2.9% 3.11%
2005 0.6% 4.12%
2004 6.9% 1.38%
2003 4.7% 1.63%
2002 1% 0.39%
2001 3.2% 1.79%
2000 -0.8% -
1999 0.7% -
1998 8.7% -
1997 14% -

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (2001–2019, retrieved 2026-04-06).

GeoRank.org/economy/armenia/curacao | CC BY

Over the past 19 years, Armenia has recorded an average annual inflation rate of 3.71%, compared with 2.18% in Curacao. In 2019, inflation was 0.4% in Armenia and 2.62% in Curacao.

Top exports between countries

Armenia
Export category Export value
Processed food, beverages & tobacco $15M
Textiles & consumer goods $735K
Metals $381K
Raw agricultural goods $372K
Chemicals & pharma $278K
Wood & paper products $243K
Precious metals & jewellery $99K
Animal & marine products $85K
Machinery & equipment $57K
Raw materials & minerals $35K
Curacao
Export category Export value

Balance of trade

Armenia Curacao
Current account balance
-$1.19B
2024
-$655M
2023
Current account balance ranking
128/190
2024
113/190
2023
Current account balance, % of GDP
-4.6%
2024
-20%
2023
Goods imports
$15.4B
2024
$1.83B
2023
Goods exports
$13.2B
2024
$560M
2023
Service imports
$4.39B
2024
$935M
2023
Service exports
$5.86B
2024
$1.55B
2023
Imports of goods and services, % of GDP
76.4%
2024
92%
2018
Exports of goods and services, % of GDP
73.6%
2024
63.2%
2018

Economic freedom indices

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

Armenia Curacao
Economic freedom 67.1 78
Economic freedom ranking 58/197 12/197
Property rights 48.6 n/a
Government integrity 51.8 n/a
Judicial effectiveness 31.4 n/a
Tax burden 87.2 n/a
Government spending 77.5 n/a
Fiscal health 84.1 n/a
Business freedom 72.9 n/a
Labor freedom 59.2 n/a
Monetary freedom 77.2 n/a
Trade freedom 75 n/a
Investment freedom 70 n/a
Financial freedom 70 n/a

Other economic metrics

Armenia Curacao
Services, % of GDP
62%
2024
72.3%
2024
Industry, % of GDP
22.9%
2024
12.2%
2024
Agriculture, forestry, and fishing, % of GDP
7.81%
2024
0.28%
2024
GNI, Atlas method
$23.7B
2024
$3.52B
2024
GNI per capita, PPP
$22,020
2024
$33,300
2024
Total reserves including gold
$3.69B
2024
n/a
Total reserves ranking
111/177
2024
n/a
Net foreign direct investment
-$74.8M
2024
-$129M
2023
Net inflows of foreign direct investment
$132M
2024
$155M
2024
Net outflows of foreign direct investment
$56.8M
2024
$8.09M
2024
Servicing debt to the IMF, % of GNI
7.26%
2024
n/a
Poverty at national poverty lines
23.7%
2023
n/a
Gross capital formation, % of GDP
23.8%
2024
41.1%
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/armenia/curacao | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1985–2025, retrieved 2026-04-06)
  2. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  3. International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-03-09)
  5. TradeMap (2023, 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.