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Economy of Azerbaijan vs Costa Rica compared: GDP & Debt

Updated on by Georank team

Azerbaijan has a GDP of $74.3B compared to $95.4B for Costa Rica, ranking 84/197 and 73/197 by economy size, respectively.

Azerbaijan has $16.1B in government debt (21.7% of GDP), compared to $57B (59.8% of GDP) in Costa Rica.

Azerbaijan vs Costa Rica GDP by year

Azerbaijan
Costa Rica
1x
Year GDP, current $
Azerbaijan Costa Rica
2024 $74,315,882,353 $95,350,423,177
2023 $72,428,470,588 $86,497,941,439
2022 $78,807,470,588 $69,243,626,029
2021 $54,825,411,765 $64,960,725,734
2020 $42,693,000,000 $62,395,610,760
2019 $48,174,235,294 $64,417,670,521
2018 $47,112,470,052 $62,420,164,992
2017 $40,866,627,352 $60,516,044,657
2016 $37,866,996,883 $58,847,019,610
2015 $53,076,235,355 $56,441,920,821
2014 $75,239,785,452 $52,016,408,854
2013 $74,160,560,124 $50,949,668,842
2012 $69,679,944,504 $47,231,655,432
2011 $65,952,796,428 $42,762,613,699
2010 $52,909,294,792 $37,658,616,952
2009 $44,292,427,185 $30,745,714,313
2008 $48,851,293,785 $30,801,745,700
2007 $33,049,419,431 $26,884,700,709
2006 $20,981,929,498 $22,715,540,324
2005 $13,245,421,881 $20,040,642,477
2004 $8,680,405,741 $18,610,594,846
2003 $7,276,413,079 $17,271,760,507
2002 $6,236,087,738 $16,578,820,687
2001 $5,707,616,204 $15,976,174,337
2000 $5,272,615,723 $15,013,629,662
1999 $4,581,248,567 $14,254,866,285
1998 $4,446,368,571 $13,684,255,947
1997 $3,962,362,387 $12,614,602,382
1996 $3,176,507,376 $11,678,424,507
1995 $2,417,331,193 $11,578,594,260
1994 $1,193,141,110 $10,489,903,725
1993 $1,570,392,598 $9,564,815,975
1992 $444,658,672 $8,579,754,758
1991 $5,344,000,000 $7,215,725,487
1990 $8,884,848,485 $5,711,687,787
1989 - $5,251,025,767
1988 - $4,614,629,898
1987 - $4,532,952,047
1986 - $4,418,983,871
1985 - $3,919,203,960
1984 - $3,660,477,856
1983 - $3,146,772,631
1982 - $2,606,623,555
1981 - $2,623,803,096
1980 - $4,831,447,001
1979 - $4,035,519,323
1978 - $3,523,208,810
1977 - $3,072,427,013
1976 - $2,412,555,426
1975 - $1,960,863,466
1974 - $1,666,544,754
1973 - $1,528,925,846
1972 - $1,238,251,696
1971 - $1,077,147,538
1970 - $984,830,158
1969 - $853,630,204
1968 - $773,841,494
1967 - $699,456,619
1966 - $647,305,630
1965 - $592,981,162
1964 - $542,578,367
1963 - $511,902,137
1962 - $479,180,824
1961 - $490,325,182
1960 - $507,513,830

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

GeoRank.org/economy/azerbaijan/costa-rica | CC BY

GDP per capita in Azerbaijan vs Costa Rica by year

Azerbaijan
GDP per capita

GDP per capita, PPP
Costa Rica
GDP per capita

GDP per capita, PPP
1x
Year Current $
Azerbaijan Costa Rica
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,284 $25,089 $18,587 $31,107
2023 $7,133 $23,652 $16,942 $28,909
2022 $7,771 $22,552 $13,626 $26,226
2021 $5,408 $20,111 $12,838 $23,853
2020 $4,230 $15,164 $12,394 $22,100
2019 $4,806 $16,675 $12,885 $23,340
2018 $4,740 $15,283 $12,590 $21,498
2017 $4,147 $14,316 $12,317 $20,499
2016 $3,881 $14,536 $12,091 $19,202
2015 $5,501 $15,075 $11,715 $17,525
2014 $7,891 $17,564 $10,911 $16,394
2013 $7,875 $17,268 $10,803 $15,232
2012 $7,496 $15,994 $10,127 $14,464
2011 $7,190 $14,805 $9,276 $13,614
2010 $5,844 $14,930 $8,266 $12,928
2009 $4,950 $14,246 $6,833 $12,274
2008 $5,574 $13,217 $6,937 $12,472
2007 $3,851 $11,974 $6,138 $11,842
2006 $2,473 $9,398 $5,257 $10,800
2005 $1,578 $6,855 $4,703 $9,899
2004 $1,045 $5,248 $4,431 $9,365
2003 $884 $4,718 $4,173 $8,863
2002 $763 $4,230 $4,068 $8,461
2001 $704 $3,835 $3,985 $8,190
2000 $655 $3,439 $3,813 $7,879
1999 $574 $3,052 $3,691 $7,563
1998 $562 $2,827 $3,617 $7,306
1997 $506 $2,565 $3,408 $6,890
1996 $409 $2,407 $3,227 $6,568
1995 $315 $2,357 $3,275 $6,515
1994 $157.1 $2,648 $3,040 $6,276
1993 $209.5 $3,272 $2,840 $6,025
1992 $60.2 $4,220 $2,612 $5,635
1991 $735 $5,412 $2,253 $5,175
1990 $1,238 $5,343 $1,830 $5,021
1989 - - $1,725 -
1988 - - $1,555 -
1987 - - $1,567 -
1986 - - $1,569 -
1985 - - $1,429 -
1984 - - $1,372 -
1983 - - $1,213 -
1982 - - $1,032 -
1981 - - $1,068 -
1980 - - $2,021 -
1979 - - $1,735 -
1978 - - $1,556 -
1977 - - $1,393 -
1976 - - $1,123 -
1975 - - $937 -
1974 - - $817 -
1973 - - $769 -
1972 - - $639 -
1971 - - $570 -
1970 - - $536 -
1969 - - $477 -
1968 - - $445 -
1967 - - $414 -
1966 - - $395 -
1965 - - $374 -
1964 - - $354 -
1963 - - $346 -
1962 - - $335 -
1961 - - $356 -
1960 - - $382 -

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

GeoRank.org/economy/azerbaijan/costa-rica | CC BY

Azerbaijan's GDP per capita is $7,284, ranking 101/197, compared to $18,587 in Costa Rica, ranking 62/197. Adjusted for purchasing power (GDP per capita PPP), Azerbaijan ranks 82nd at $25,089, while Costa Rica ranks 72nd at $31,107.

Economic indicators

Azerbaijan Costa Rica
Gross domestic product
$74.3B
2024
$95.4B
2024
GDP rank
84/197
2024
73/197
2024
GDP growth
4.07%
2023-2024
4.32%
2023-2024
GDP per capita
$7,284
2024
$18,587
2024
GDP per capita rank
101/197
2024
62/197
2024
GDP per capita, PPP
$25,089
2024
$31,107
2024
GDP per capita PPP rank
82/197
2024
72/197
2024
Government debt
$16.1B
2024
$57B
2024
Debt-to-GDP ratio
21.7%
2024
59.8%
2024
Government debt per person
$1,579
2024
$11,106
2024
Government debt per person rank
128/185
2024
50/185
2024
Average annual personal income after taxes
$6,324
2026
$12,150
2026
Market capitalization of domestic companies
$1.64B
2024
$2.23B
2022
Income share by richest 10%
24.2%
2005
34.2%
2024
Income share by poorest 10%
4.8%
2005
1.7%
2024
Government expenditure, % of GDP
33.9%
2024
18.9%
2024
Consumer prices inflation
2.21%
2023-2024
-0.41%
2023-2024
Central bank interest rate
7%
2025
3.5%
2025
Unemployment rate
5.65%
2022
6.94%
2024
Population
10338778
5181862

Spending and national debt comparison by year

Azerbaijan
Spending

Debt
Costa Rica
Spending

Debt
1x
Year % of GDP
Azerbaijan Costa Rica
Government spending Government debt Government spending Government debt
2024 33.9% 21.7% 18.9% 59.8%
2023 32.7% 21.8% 18.5% 61.1%
2022 26.2% 17.3% 19.2% 63%
2021 32.2% 26.3% 20.8% 67.6%
2020 40.2% 21.3% 22.3% 66.9%
2019 32.5% 17.7% 21.7% 56.4%
2018 33.2% 18.7% 18.9% 51.8%
2017 35.6% 22.5% 19.2% 47.1%
2016 35.4% 20.6% 18.8% 44.1%
2015 38.7% 18% 18.8% 39.8%
2014 36.4% 8.53% 18.4% 37.4%
2013 37.8% 6.18% 18.5% 35.1%
2012 36.6% 5.83% 17.3% 33.7%
2011 33.7% 4.97% 17.2% 29.5%
2010 32% 4.98% 18% 28.1%
2009 34.5% 4.73% 16.7% 26%
2008 31.4% 3.22% 15.2% 24%
2007 26.1% 4% 14.6% 27%
2006 25.3% 5.3% 15.2% 33%
2005 22.5% 6.85% 15.9% 37.3%
2004 24.2% 9.71% 17% 41%
2003 21.7% 10.7% 17.6% 40.6%
2002 23.1% 11.9% 18.6% 41.4%
2001 16.8% 13% 17.3% 39.6%
2000 18.2% 13.1% 16.9% 38.9%
1999 19.5% 25.4% 16.7% 39%
1998 18.7% 14.3% 16% 40.7%
1997 18.5% 11.4% 16.3% 30.6%
1996 19.8% 16.7% 17.3% 33.7%
1995 18.9% 19.2% 16.4% 29.1%
1994 14.7% 11.7% 17.4% 27%
1993 - - 13.8% 24.4%
1992 - - 13.7% 23.3%
1991 - - 14% 28.4%
1990 - - 18.9% 18.5%
1989 - - 26.1% 19.3%
1988 - - 24.5% 18.2%
1987 - - 27.2% 21.2%
1986 - - 26.4% 26.1%
1985 - - 21.8% 22.8%
1984 - - 22.8% 25.2%
1983 - - 23.6% 29.8%
1982 - - 18.4% 31.8%
1981 - - 21% 32.3%
1980 - - 25% 37.7%
1979 - - 24.9% 39.5%
1978 - - 23.2% 41.7%
1977 - - 19.3% 27.8%
1976 - - 20.1% 29.5%
1975 - - 19.1% 26.1%
1974 - - 18.3% 30.3%
1973 - - 18.4% 32.8%
1972 - - 17.2% 31.8%
1971 - - 17.5% 30.4%
1970 - - 14.9% 28.6%
1969 - - 14.5% 26.1%
1968 - - 13.8% 27.7%
1967 - - 14.7% 26.7%
1966 - - 14.3% 24.8%
1965 - - 13.8% 24.1%
1964 - - 13.5% 22.7%
1963 - - 13.3% 21.8%
1962 - - 14% 19.7%
1961 - - 13.2% 20.3%
1960 - - 12.5% 16.1%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1995, retrieved 2026-02-20).

GeoRank.org/economy/azerbaijan/costa-rica | CC BY

In 2024, Azerbaijan's government spending was $25.2B, accounting for 33.9% of its GDP, while Costa Rica spent $18B, or 18.9% of GDP.

Debt-to-GDP ratio is 21.7% in Azerbaijan and 59.8% in Costa Rica, ranking 174/185 and 79/185, respectively.

Government deficit by year

Deficit/surplus
Azerbaijan

Costa Rica
1x
Year Deficit/surplus, % of GDP
Azerbaijan Costa Rica
2024 4.06% -3.78%
2023 7.92% -3.25%
2022 5.96% -2.81%
2021 4.21% -5.09%
2020 -6.44% -8.38%
2019 8.95% -6.68%
2018 5.43% -5.66%
2017 -1.34% -5.88%
2016 -1.17% -5.09%
2015 -4.83% -5.52%
2014 2.74% -5.45%
2013 1.64% -5.25%
2012 3.71% -4.22%
2011 10.9% -3.91%
2010 13.8% -4.96%
2009 5.86% -3.25%
2008 17.2% 0.18%
2007 2.34% 0.56%
2006 0.66% -1.04%
2005 2.74% -2.09%
2004 1.78% -3.42%
2003 1.6% -3.43%
2002 19.4% -4.99%
2001 21.8% -3.47%
2000 0.14% -3.68%
1999 -1.03% -2.88%
1998 1.63% -2.96%
1997 -0.94% -3.39%
1996 -2.25% -4.32%
1995 -1.34% -3.68%
1994 3.21% -5.46%
1993 - -1.52%
1992 - -1.51%
1991 - -2.41%
1990 - -4.4%
1989 - -1.55%
1988 - 0.57%
1987 - -2.57%
1986 - -4.26%
1985 - -1.06%
1984 - -0.5%
1983 - -1.84%
1982 - -0.94%
1981 - -3.14%
1980 - -7.24%
1979 - -6.6%
1978 - -4.12%
1977 - -2.63%
1976 - -2.42%
1975 - -1.13%
1974 - 0.26%
1973 - -2.41%
1972 - -4.54%
1971 - -4.72%
1970 - -1.41%
1969 - -1.61%
1968 - -1.72%
1967 - -3.03%
1966 - -2.12%
1965 - -1.71%
1964 - -1.51%
1963 - -2.01%
1962 - -1.99%
1961 - -0.71%
1960 - -0.19%
1959 - 0.49%
1958 - 0%
1957 - 0.3%
1956 - 0.05%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1956–1989, retrieved 2026-02-20).

GeoRank.org/economy/azerbaijan/costa-rica | CC BY

In 2024, Azerbaijan's government surplus, the difference between spending and revenue, was $3.01B, equivalent to 4.06% of GDP. This compares to Costa Rica's deficit of $3.61B, or 3.78% of GDP.

Over the past 31 years, Azerbaijan recorded a fiscal deficit in 8 of those years, while Costa Rica ran a deficit in 29 years. On average, Azerbaijan posted an annual surplus equal to 4.14% of GDP, compared to deficit of 3.98% of GDP for Costa Rica.

Inflation comparison by year

Inflation
Azerbaijan

Costa Rica
1x
Year Consumer prices inflation
Azerbaijan Costa Rica
2024 2.21% -0.41%
2023 8.79% 0.53%
2022 13.9% 8.27%
2021 6.65% 1.73%
2020 2.76% 0.72%
2019 2.61% 2.1%
2018 2.27% 2.22%
2017 12.9% 1.63%
2016 12.4% -0.02%
2015 4.03% 0.8%
2014 1.37% 4.52%
2013 2.42% 5.23%
2012 1.07% 4.5%
2011 7.86% 4.88%
2010 5.73% 5.66%
2009 1.46% 7.84%
2008 20.8% 13.4%
2007 16.7% 9.36%
2006 8.33% 11.5%
2005 9.68% 13.8%
2004 6.71% 12.3%
2003 2.23% 9.45%
2002 2.77% 9.17%
2001 1.55% 11.3%
2000 1.81% 11%
1999 -8.53% 10%
1998 -0.77% 11.7%
1997 3.67% 13.2%

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

GeoRank.org/economy/azerbaijan/costa-rica | CC BY

Over the past 28 years, Azerbaijan has recorded an average annual inflation rate of 5.48%, compared with 6.66% in Costa Rica. In 2024, inflation was 2.21% in Azerbaijan and -0.41% in Costa Rica.

Balance of trade

Azerbaijan Costa Rica
Current account balance
$4.67B
2024
-$1.25B
2024
Current account balance ranking
34/190
2024
129/190
2024
Current account balance, % of GDP
+6.29%
2024
-1.31%
2024
Goods imports
$17.2B
2024
$23.1B
2024
Goods exports
$26B
2024
$20.6B
2024
Service imports
$10.2B
2024
$7.58B
2024
Service exports
$8.12B
2024
$16.3B
2024
Imports of goods and services, % of GDP
36.8%
2024
32.8%
2024
Exports of goods and services, % of GDP
45.9%
2024
38.5%
2024

Economic freedom indices

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

Azerbaijan Costa Rica
Economic freedom 64.3 69.1
Economic freedom ranking 74/197 43/197
Property rights 53.3 66
Government integrity 23.6 64.1
Judicial effectiveness 16.5 76.9
Tax burden 87.9 78.6
Government spending 71.3 89.3
Fiscal health 99.1 75.6
Business freedom 71.2 79.9
Labor freedom 56.9 55.9
Monetary freedom 76 78.2
Trade freedom 75.8 75
Investment freedom 70 50
Financial freedom 70 40

Economic freedom comparison by year

Azerbaijan
Costa Rica
1x
Year Economic freedom index
Azerbaijan Costa Rica
2026 64.3 69.1
2025 62.5 68.6
2024 61.6 67.7
2023 61.4 66.5
2022 61.6 65.4
2021 70.1 64.2
2020 69.3 65.8
2019 65.4 65.3
2018 64.3 65.6
2017 63.6 65
2016 60.2 67.4
2015 61 67.2
2014 61.3 66.9
2013 59.7 67
2012 58.9 68
2011 59.7 67.3
2010 58.8 65.9
2009 58 66.4
2008 55.3 64.2
2007 54.6 64
2006 53.2 65.9
2005 54.4 66.1
2004 53.4 66.4
2003 54.1 67
2002 53.3 67.5
2001 50.3 67.6
2000 49.8 68.4
1999 47.4 67.4
1998 43.1 65.6
1997 34 65.6
1996 30 66.4
1995 - 68

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

GeoRank.org/economy/azerbaijan/costa-rica | CC BY

The Economic Freedom Index for Azerbaijan is 64.3, ranking 74/197, compared to 69.1 for Costa Rica, ranking 43/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Azerbaijan Costa Rica
Services, % of GDP
42.3%
2024
68.8%
2024
Industry, % of GDP
42.6%
2024
19.7%
2024
Agriculture, forestry, and fishing, % of GDP
5.66%
2024
3.56%
2024
GNI, Atlas method
$74.8B
2024
$80.2B
2024
GNI per capita, PPP
$24,220
2024
$28,840
2024
Total reserves including gold
$12.7B
2024
$14.2B
2024
Total reserves ranking
72/177
2024
70/177
2024
Net foreign direct investment
$511M
2024
-$4.96B
2024
Net inflows of foreign direct investment
$231M
2024
$5.3B
2024
Net outflows of foreign direct investment
$742M
2024
$337M
2024
Servicing debt to the IMF, % of GNI
5.83%
2024
6.31%
2023
Poverty at national poverty lines
6%
2012
20.3%
2024
Gross capital formation, % of GDP
21.1%
2024
15.7%
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/azerbaijan/costa-rica | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1956–1995, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, 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.