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Economy of Belarus vs Costa Rica compared: GDP & Debt

Updated on by Georank team

Belarus has a GDP of $76B compared to $95.4B for Costa Rica, ranking 83/197 and 72/197 by economy size, respectively.

Belarus has $33.7B in government debt (42.9% of GDP), compared to $57B (59.7% of GDP) in Costa Rica.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Belarus
GDP, current $

GDP, constant 2015 $
Costa Rica
GDP, current $

GDP, constant 2015 $
Year GDP
Belarus Costa Rica
Current $ Constant $ Current $ Constant $
1960 - - $507,513,830 $4,791,476,273
1961 - - $490,325,182 $4,881,521,363
1962 - - $479,180,824 $5,147,192,861
1963 - - $511,902,137 $5,502,293,756
1964 - - $542,578,367 $5,703,625,343
1965 - - $592,981,162 $6,170,782,350
1966 - - $647,305,630 $6,600,843,859
1967 - - $699,456,619 $6,973,799,849
1968 - - $773,841,494 $7,564,711,134
1969 - - $853,630,204 $7,980,149,936
1970 - - $984,830,158 $8,578,911,307
1971 - - $1,077,147,538 $9,160,433,275
1972 - - $1,238,251,696 $9,909,577,643
1973 - - $1,528,925,846 $10,673,498,641
1974 - - $1,666,544,754 $11,265,333,466
1975 - - $1,960,863,466 $11,501,913,473
1976 - - $2,412,555,426 $12,136,538,956
1977 - - $3,072,427,013 $13,217,233,964
1978 - - $3,523,208,810 $14,045,648,796
1979 - - $4,035,519,323 $14,739,380,800
1980 - - $4,831,447,001 $14,850,205,527
1981 - - $2,623,803,096 $14,514,345,036
1982 - - $2,606,623,555 $13,456,892,436
1983 - - $3,146,772,631 $13,842,162,284
1984 - - $3,660,477,856 $14,952,872,322
1985 - - $3,919,203,960 $15,060,772,508
1986 - - $4,418,983,871 $15,894,574,653
1987 - - $4,532,952,047 $16,651,876,952
1988 - - $4,614,629,898 $17,223,393,910
1989 - - $5,251,025,767 $18,199,267,198
1990 $17,389,558,233 $29,435,120,618 $5,711,687,787 $18,845,898,693
1991 $18,404,907,975 $29,081,900,435 $7,215,725,487 $19,272,881,732
1992 $16,939,790,094 $26,290,037,656 $8,579,754,758 $21,046,199,573
1993 $16,275,073,527 $24,291,994,261 $9,564,815,975 $22,539,888,605
1994 $14,931,435,232 $21,449,829,995 $10,489,903,725 $23,558,472,567
1995 $13,972,683,274 $19,219,047,590 $11,578,594,260 $24,537,080,455
1996 $14,756,846,154 $19,757,181,802 $11,678,424,507 $24,868,443,787
1997 $14,130,585,516 $22,009,501,596 $12,614,602,382 $26,230,280,995
1998 $15,221,352,699 $23,858,297,858 $13,684,255,947 $28,107,138,541
1999 $12,138,243,081 $24,669,479,794 $14,254,866,285 $29,291,801,357
2000 $12,736,780,455 $26,100,310,428 $15,013,629,662 $30,425,018,574
2001 $12,354,820,144 $27,333,629,973 $15,976,174,337 $31,487,207,663
2002 $14,594,900,945 $28,712,684,737 $16,578,820,687 $32,563,086,628
2003 $17,825,444,724 $30,734,974,395 $17,271,760,507 $33,968,893,648
2004 $23,141,566,293 $34,254,050,014 $18,610,594,846 $35,471,881,179
2005 $30,210,091,837 $37,473,931,238 $20,040,642,477 $36,882,479,548
2006 $36,961,894,281 $41,221,322,382 $22,715,540,324 $39,584,746,492
2007 $45,275,711,996 $44,766,358,828 $26,884,700,709 $42,836,685,662
2008 $60,752,106,347 $49,332,527,214 $30,801,745,700 $44,866,362,741
2009 $50,873,167,326 $49,431,189,908 $30,745,714,313 $44,474,474,829
2010 $57,231,904,543 $53,262,115,562 $37,658,616,952 $46,858,459,461
2011 $61,762,382,328 $56,218,149,512 $42,762,613,699 $48,921,712,049
2012 $65,685,890,439 $57,178,272,623 $47,231,655,432 $51,310,359,848
2013 $75,527,558,966 $57,749,323,055 $50,949,668,842 $52,590,433,318
2014 $78,813,069,121 $58,702,836,384 $52,016,408,854 $54,453,244,251
2015 $56,454,769,845 $56,454,769,845 $56,441,920,821 $56,441,920,821
2016 $47,723,545,321 $55,028,470,324 $58,847,019,610 $58,814,921,621
2017 $54,725,405,751 $56,421,892,170 $60,516,044,657 $61,260,269,008
2018 $60,031,026,576 $58,198,729,041 $62,420,164,992 $62,862,779,083
2019 $64,410,170,653 $59,040,547,745 $64,417,670,521 $64,382,494,196
2020 $61,371,673,345 $58,643,356,622 $62,395,610,760 $61,631,202,098
2021 $69,673,747,132 $60,073,587,235 $64,960,725,734 $66,522,107,766
2022 $73,775,179,925 $57,275,121,700 $69,243,626,029 $69,549,856,033
2023 $72,478,760,370 $59,638,602,548 $86,497,941,439 $73,105,190,308
2024 $75,961,865,472 $62,030,020,173 $95,350,423,177 $76,264,229,554

Economic indicators

Belarus Costa Rica
Gross domestic product
$76B
2024
$95.4B
2024
GDP rank
83/197
2024
72/197
2024
GDP growth
4.81%
2023-2024
10.2%
2023-2024
GDP per capita
$8,317
2024
$18,587
2024
GDP per capita rank
95/197
2024
62/197
2024
GDP per capita, PPP
$33,006
2024
$30,063
2024
Government debt
$33.7B
2024
$57B
2024
Debt-to-GDP ratio
42.9%
2025
59.7%
2025
Government debt per person
$3,691
2024
$11,106
2024
Government debt per person rank
94/185
2024
51/185
2024
Average annual personal income after taxes
$6,343
2025
$12,322
2025
Market capitalization of domestic companies
$6.01B
2024
$2.23B
2022
Income share by richest 10%
20.7%
2020
34.2%
2024
Income share by poorest 10%
4.5%
2020
1.7%
2024
Government expenditure, % of GDP
41.3%
2025
18.3%
2025
Consumer prices inflation
7%
2024-2025
-0.41%
2023-2024
Central bank interest rate
9.75%
2025
3.75%
2025
Unemployment rate
3.46%
2023
6.94%
2024
Population
9074112
5170484

GDP per capita in Belarus vs Costa Rica

Belarus' GDP per capita is $8,317, ranking 95/197, compared to $18,587 in Costa Rica, ranking 62/197. Adjusted for purchasing power (GDP per capita PPP), Belarus ranks 68th at $33,006, while Costa Rica ranks 73rd at $30,063.

Belarus
GDP per capita

GDP per capita, PPP
Costa Rica
GDP per capita

GDP per capita, PPP
Year Current $
Belarus Costa Rica
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 - - $382 -
1961 - - $356 -
1962 - - $335 -
1963 - - $346 -
1964 - - $354 -
1965 - - $374 -
1966 - - $395 -
1967 - - $414 -
1968 - - $445 -
1969 - - $477 -
1970 - - $536 -
1971 - - $570 -
1972 - - $639 -
1973 - - $769 -
1974 - - $817 -
1975 - - $937 -
1976 - - $1,123 -
1977 - - $1,393 -
1978 - - $1,556 -
1979 - - $1,735 -
1980 - - $2,021 -
1981 - - $1,068 -
1982 - - $1,032 -
1983 - - $1,213 -
1984 - - $1,372 -
1985 - - $1,429 -
1986 - - $1,569 -
1987 - - $1,567 -
1988 - - $1,555 -
1989 - - $1,725 -
1990 $1,707 $5,220 $1,830 $5,021
1991 $1,805 $5,330 $2,253 $5,175
1992 $1,658 $4,917 $2,612 $5,635
1993 $1,590 $4,641 $2,840 $6,025
1994 $1,460 $4,190 $3,040 $6,276
1995 $1,371 $3,846 $3,275 $6,515
1996 $1,453 $4,039 $3,227 $6,568
1997 $1,397 $4,596 $3,408 $6,890
1998 $1,511 $5,061 $3,617 $7,306
1999 $1,211 $5,331 $3,691 $7,563
2000 $1,276 $5,796 $3,813 $7,879
2001 $1,244 $6,238 $3,985 $8,190
2002 $1,479 $6,697 $4,068 $8,461
2003 $1,820 $7,362 $4,173 $8,863
2004 $2,378 $8,483 $4,431 $9,365
2005 $3,126 $9,637 $4,703 $9,899
2006 $3,848 $10,995 $5,257 $10,800
2007 $4,735 $12,320 $6,138 $11,842
2008 $6,376 $13,886 $6,937 $12,472
2009 $5,352 $14,034 $6,833 $12,274
2010 $6,035 $15,339 $8,266 $12,928
2011 $6,528 $16,563 $9,276 $13,614
2012 $6,953 $18,115 $10,127 $14,464
2013 $7,998 $19,014 $10,803 $15,232
2014 $8,341 $19,038 $10,911 $16,394
2015 $5,967 $18,134 $11,715 $17,525
2016 $5,040 $17,832 $12,091 $19,202
2017 $5,786 $18,414 $12,317 $20,499
2018 $6,360 $20,026 $12,590 $21,498
2019 $6,838 $22,302 $12,885 $23,340
2020 $6,543 $24,872 $12,394 $22,100
2021 $7,490 $27,611 $12,838 $23,853
2022 $7,995 $28,429 $13,626 $25,925
2023 $7,897 $30,834 $16,942 $28,075
2024 $8,317 $33,006 $18,587 $30,063

Spending and national debt comparison

In 2024, Belarus' government spending was $31.1B, accounting for 41.3% of its GDP, while Costa Rica's spent $18B, or 18.3% of GDP.

Debt-to-GDP ratio is 42.9% in Belarus and 59.7% in Costa Rica, ranking 127/185 and 83/185, respectively.

Belarus
Government spending

Government debt
Costa Rica
Government spending

Government debt
Year % of GDP
Belarus Costa Rica
Government spending Government debt Government spending Government debt
1960 - - 12.5% 16.1%
1961 - - 13.2% 20.3%
1962 - - 14% 19.7%
1963 - - 13.3% 21.8%
1964 - - 13.5% 22.7%
1965 - - 13.8% 24.1%
1966 - - 14.3% 24.8%
1967 - - 14.7% 26.7%
1968 - - 13.8% 27.7%
1969 - - 14.5% 26.1%
1970 - - 14.9% 28.6%
1971 - - 17.5% 30.4%
1972 - - 17.2% 31.8%
1973 - - 18.4% 32.8%
1974 - - 18.3% 30.3%
1975 - - 19.1% 26.1%
1976 - - 20.1% 29.5%
1977 - - 19.3% 27.8%
1978 - - 23.2% 41.7%
1979 - - 24.9% 39.5%
1980 - - 25% 37.7%
1981 - - 21% 32.3%
1982 - - 18.4% 31.8%
1983 - - 23.6% 29.8%
1984 - - 22.8% 25.2%
1985 - - 21.8% 22.8%
1986 - - 26.4% 26.1%
1987 - - 27.2% 21.2%
1988 - - 24.5% 18.2%
1989 - - 26.1% 19.3%
1990 - - 18.9% 18.5%
1991 - - 14% 28.4%
1992 - - 13.7% 23.3%
1993 - - 13.8% 24.4%
1994 - - 17.4% 27%
1995 - - 16.4% 29.1%
1996 - - 17.3% 33.7%
1997 - - 16.3% 30.6%
1998 - - 16% 40.7%
1999 - - 16.7% 39%
2000 - - 16.9% 38.9%
2001 42.4% - 17.3% 39.6%
2002 43.8% - 18.6% 41.4%
2003 43.5% - 17.6% 40.6%
2004 44% 9.22% 17% 41%
2005 45% 8.12% 15.9% 37.3%
2006 47.2% 12.3% 15.2% 33%
2007 49.2% 15.8% 14.6% 27%
2008 60% 20.3% 15.2% 24%
2009 51.7% 32.5% 16.7% 26%
2010 44.3% 36.8% 18% 28.1%
2011 40.3% 58.2% 17.2% 29.5%
2012 38.9% 36.9% 17.3% 33.7%
2013 40.8% 36.9% 18.5% 35.1%
2014 38.8% 38.8% 18.4% 37.4%
2015 41.8% 53% 18.8% 39.8%
2016 40.7% 53.5% 18.8% 44.1%
2017 39% 53.2% 19.2% 47.1%
2018 37.8% 47.5% 18.9% 51.8%
2019 37.4% 41% 21.7% 56.4%
2020 38% 47.5% 22.3% 66.9%
2021 36.7% 41.2% 20.8% 67.6%
2022 38% 40.8% 19.2% 63%
2023 40.3% 40.7% 18.5% 61.1%
2024 41% 44.4% 18.9% 59.8%
2025 41.3% 42.9% 18.3% 59.7%

Government deficit by year

In 2024, Belarus' government surplus, the difference between spending and revenue, was $567M, equivalent to 0.75% of GDP. This compares to Costa Rica's deficit of -$3.61B, or -3.78% of GDP.

Over the past 24 years, Belarus recorded a fiscal deficit in 18 of those years, while Costa Rica ran a deficit in 22 years. On average, Belarus posted an annual deficit equal to -3.34% of GDP, compared to deficit of -4.04% of GDP for Costa Rica.

Deficit/surplus
Belarus

Costa Rica
Year Deficit/surplus, % of GDP
Belarus Costa Rica
1956 - 0.05%
1957 - 0.3%
1958 - 0%
1959 - 0.49%
1960 - -0.19%
1961 - -0.71%
1962 - -1.99%
1963 - -2.01%
1964 - -1.51%
1965 - -1.71%
1966 - -2.12%
1967 - -3.03%
1968 - -1.72%
1969 - -1.61%
1970 - -1.41%
1971 - -4.72%
1972 - -4.54%
1973 - -2.41%
1974 - 0.26%
1975 - -1.13%
1976 - -2.42%
1977 - -2.63%
1978 - -4.12%
1979 - -6.6%
1980 - -7.24%
1981 - -3.14%
1982 - -0.94%
1983 - -1.84%
1984 - -0.5%
1985 - -1.06%
1986 - -4.26%
1987 - -2.57%
1988 - 0.57%
1989 - -1.55%
1990 - -4.4%
1991 - -2.41%
1992 - -1.51%
1993 - -1.52%
1994 - -5.46%
1995 - -3.68%
1996 - -4.32%
1997 - -3.39%
1998 - -2.96%
1999 - -2.88%
2000 - -3.68%
2001 -4.74% -3.47%
2002 -7.81% -4.99%
2003 -6.74% -3.43%
2004 -7.06% -3.42%
2005 -6.71% -2.09%
2006 -7.71% -1.04%
2007 -7.82% 0.56%
2008 -10.9% 0.18%
2009 -7.23% -3.25%
2010 -4.19% -4.96%
2011 -2.81% -3.91%
2012 0.36% -4.22%
2013 -0.98% -5.25%
2014 0.09% -5.45%
2015 -2.96% -5.52%
2016 -1.66% -5.09%
2017 -0.34% -5.88%
2018 1.8% -5.66%
2019 0.91% -6.68%
2020 -2.87% -8.38%
2021 -0.22% -5.09%
2022 -2.04% -2.81%
2023 0.71% -3.25%
2024 0.75% -3.78%
2025 0.24% -3.23%

Inflation comparison by year

Over the past 29 years, Belarus has recorded an average annual inflation rate of 37.7%, compared with 7.03% in Costa Rica. In 2024, inflation was 7% in Belarus and -0.41% in Costa Rica.

Inflation
Belarus

Costa Rica
Year Inflation
Belarus Costa Rica Belarus Costa Rica
1996 52.7% 17.5%
1997 63.8% 13.2%
1998 73% 11.7%
1999 293.7% 10%
2000 168.6% 11%
2001 61.1% 11.3%
2002 42.6% 9.17%
2003 28.4% 9.45%
2004 18.1% 12.3%
2005 10.3% 13.8%
2006 7% 11.5%
2007 8.4% 9.36%
2008 14.8% 13.4%
2009 13% 7.84%
2010 7.7% 5.66%
2011 53.2% 4.88%
2012 59.2% 4.5%
2013 18.3% 5.23%
2014 18.1% 4.52%
2015 13.5% 0.8%
2016 11.8% -0.02%
2017 6% 1.63%
2018 4.9% 2.22%
2019 5.6% 2.1%
2020 5.5% 0.72%
2021 9.5% 1.73%
2022 15.2% 8.27%
2023 5% 0.53%
2024 5.7% -0.41%
2025 7% -

Top exports between countries

Belarus
Export category Export value
Raw materials & minerals $7.59M
Transport & tourism services $1.05M
Wood & paper products $178K
Business & finance services $114K
Chemicals & pharma $48K
IT & IP services $6K
Machinery & equipment $5K
Costa Rica
Export category Export value
Machinery & equipment $1K

Balance of trade

Belarus Costa Rica
Current account balance
-$1.94B
2024
-$1.29B
2024
Current account balance ranking
141/189
2024
129/189
2024
Current account balance, % of GDP
-2.56%
2024
-1.35%
2024
Goods imports
$44.2B
2024
$23.2B
2024
Goods exports
$39.5B
2024
$20.7B
2024
Service imports
$6.82B
2024
$7.29B
2024
Service exports
$10.1B
2024
$16.1B
2024
Imports of goods and services, % of GDP
66.9%
2024
32.8%
2024
Exports of goods and services, % of GDP
65.1%
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.

Belarus Costa Rica
Economic freedom 48.9 68.6
Economic freedom ranking 168/197 47/197
Property rights 20.9 65.9
Government integrity 28.8 60.4
Judicial effectiveness 10.5 75.7
Tax burden 89.3 78.5
Government spending 55.6 88.6
Fiscal health 96.2 70.8
Business freedom 50.9 80.3
Labor freedom 48 62.1
Monetary freedom 67.2 74.9
Trade freedom 69.2 75.4
Investment freedom 30 50
Financial freedom 20 40

Economic freedom by year comparison

The Economic Freedom Index for Belarus is 48.9, ranking 168/197, compared to 68.6 for Costa Rica, ranking 47/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Belarus
Costa Rica
Year Economic freedom index
Belarus Costa Rica
1995 40.4 68
1996 38.7 66.4
1997 39.8 65.6
1998 38 65.6
1999 35.4 67.4
2000 41.3 68.4
2001 38 67.6
2002 39 67.5
2003 39.7 67
2004 43.1 66.4
2005 46.7 66.1
2006 47.5 65.9
2007 47 64
2008 45.3 64.2
2009 45 66.4
2010 48.7 65.9
2011 47.9 67.3
2012 49 68
2013 48 67
2014 50.1 66.9
2015 49.8 67.2
2016 48.8 67.4
2017 58.6 65
2018 58.1 65.6
2019 57.9 65.3
2020 61.7 65.8
2021 61 64.2
2022 53 65.4
2023 51 66.5
2024 48.4 67.7
2025 48.9 68.6

More economic indicators

Belarus Costa Rica
Services, % of GDP
49.7%
2024
68.8%
2024
Industry, % of GDP
30.7%
2024
19.7%
2024
Agriculture, forestry, and fishing, % of GDP
6.87%
2024
3.56%
2024
GNI, Atlas method
$75.2B
2024
$80.2B
2024
GNI per capita, PPP
$32,220
2024
$27,880
2024
Total reserves including gold
$8.91B
2024
$14.2B
2024
Total reserves ranking
82/177
2024
70/177
2024
Net foreign direct investment
-$1.57B
2024
-$4.28B
2024
Net inflows of foreign direct investment
$1.74B
2024
$5.28B
2024
Net outflows of foreign direct investment
$170M
2024
$1B
2024
Servicing debt to the IMF, % of GNI
11.3%
2023
6.31%
2023
Poverty at national poverty lines
3.9%
2022
20.3%
2024
Gross capital formation, % of GDP
25.8%
2024
15.7%
2024

GDP per capita map

GDP per capita

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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.