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Economy of Benin vs Costa Rica compared: GDP & Debt

Updated on by Georank team

Benin has a GDP of $21.5B compared to $95.4B for Costa Rica, ranking 126/197 and 73/197 by economy size, respectively.

Benin has $11.5B in government debt (53.4% of GDP), compared to $57B (59.8% of GDP) in Costa Rica.

Benin vs Costa Rica GDP by year

Benin
Costa Rica
1x
Year GDP, current $
Benin Costa Rica
2024 $21,482,643,706 $95,350,423,177
2023 $19,673,291,004 $86,497,941,439
2022 $17,425,405,091 $69,243,626,029
2021 $17,687,623,530 $64,960,725,734
2020 $15,686,741,884 $62,395,610,760
2019 $14,391,686,313 $64,417,670,521
2018 $14,262,408,090 $62,420,164,992
2017 $12,701,655,837 $60,516,044,657
2016 $11,821,065,853 $58,847,019,610
2015 $11,388,160,997 $56,441,920,821
2014 $13,284,527,847 $52,016,408,854
2013 $12,517,845,124 $50,949,668,842
2012 $11,141,358,116 $47,231,655,432
2011 $10,693,321,364 $42,762,613,699
2010 $9,535,345,016 $37,658,616,952
2009 $9,738,626,517 $30,745,714,313
2008 $9,787,734,526 $30,801,745,700
2007 $8,169,048,383 $26,884,700,709
2006 $7,034,111,315 $22,715,540,324
2005 $6,567,654,954 $20,040,642,477
2004 $6,190,270,380 $18,610,594,846
2003 $5,349,258,094 $17,271,760,507
2002 $4,194,342,686 $16,578,820,687
2001 $3,666,222,635 $15,976,174,337
2000 $3,519,991,440 $15,013,629,662
1999 $3,677,393,999 $14,254,866,285
1998 $2,455,092,686 $13,684,255,947
1997 $2,268,301,646 $12,614,602,382
1996 $2,361,116,449 $11,678,424,507
1995 $2,169,627,138 $11,578,594,260
1994 $1,598,075,944 $10,489,903,725
1993 $2,274,558,083 $9,564,815,975
1992 $1,695,315,306 $8,579,754,758
1991 $1,986,437,797 $7,215,725,487
1990 $1,959,965,330 $5,711,687,787
1989 $1,502,294,416 $5,251,025,767
1988 $1,620,246,084 $4,614,629,898
1987 $1,562,412,228 $4,532,952,047
1986 $1,336,102,025 $4,418,983,871
1985 $1,045,712,789 $3,919,203,960
1984 $1,051,134,009 $3,660,477,856
1983 $1,095,348,199 $3,146,772,631
1982 $1,267,778,670 $2,606,623,555
1981 $1,291,120,188 $2,623,803,096
1980 $1,405,251,847 $4,831,447,001
1979 $1,186,231,020 $4,035,519,323
1978 $928,843,469 $3,523,208,810
1977 $750,049,779 $3,072,427,013
1976 $698,408,262 $2,412,555,426
1975 $676,870,140 $1,960,863,466
1974 $554,654,861 $1,666,544,754
1973 $504,376,074 $1,528,925,846
1972 $410,331,857 $1,238,251,696
1971 $335,073,028 $1,077,147,538
1970 $333,627,713 $984,830,158
1969 $330,748,245 $853,630,204
1968 $326,323,105 $773,841,494
1967 $306,221,953 $699,456,619
1966 $302,925,235 $647,305,630
1965 $289,908,680 $592,981,162
1964 $269,819,006 $542,578,367
1963 $253,927,697 $511,902,137
1962 $236,434,954 $479,180,824
1961 $235,668,221 $490,325,182
1960 $226,195,578 $507,513,830

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

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

GDP per capita in Benin vs Costa Rica by year

Benin
GDP per capita

GDP per capita, PPP
Costa Rica
GDP per capita

GDP per capita, PPP
1x
Year Current $
Benin Costa Rica
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,485 $4,435 $18,587 $31,107
2023 $1,394 $4,130 $16,942 $28,909
2022 $1,266 $3,844 $13,626 $26,226
2021 $1,319 $3,464 $12,838 $23,853
2020 $1,200 $3,245 $12,394 $22,100
2019 $1,131 $3,149 $12,885 $23,340
2018 $1,152 $2,965 $12,590 $21,498
2017 $1,055 $2,886 $12,317 $20,499
2016 $1,011 $2,842 $12,091 $19,202
2015 $1,002 $2,725 $11,715 $17,525
2014 $1,204 $2,670 $10,911 $16,394
2013 $1,169 $2,512 $10,803 $15,232
2012 $1,072 $2,346 $10,127 $14,464
2011 $1,059 $2,265 $9,276 $13,614
2010 $973 $2,220 $8,266 $12,928
2009 $1,024 $2,213 $6,833 $12,274
2008 $1,061 $2,215 $6,937 $12,472
2007 $912 $2,136 $6,138 $11,842
2006 $809 $2,021 $5,257 $10,800
2005 $779 $1,946 $4,703 $9,899
2004 $759 $1,915 $4,431 $9,365
2003 $676 $1,842 $4,173 $8,863
2002 $546 $1,800 $4,068 $8,461
2001 $492 $1,746 $3,985 $8,190
2000 $487 $1,671 $3,813 $7,879
1999 $525 $1,592 $3,691 $7,563
1998 $362 $1,537 $3,617 $7,306
1997 $345 $1,508 $3,408 $6,890
1996 $369 $1,444 $3,227 $6,568
1995 $348 $1,395 $3,275 $6,515
1994 $262.1 $1,316 $3,040 $6,276
1993 $387 $1,311 $2,840 $6,025
1992 $302 $1,265 $2,612 $5,635
1991 $365 $1,239 $2,253 $5,175
1990 $371 $1,186 $1,830 $5,021
1989 $293.3 - $1,725 -
1988 $326 - $1,555 -
1987 $324 - $1,567 -
1986 $285.8 - $1,569 -
1985 $230.4 - $1,429 -
1984 $238.6 - $1,372 -
1983 $256 - $1,213 -
1982 $305 - $1,032 -
1981 $320 - $1,068 -
1980 $358 - $2,021 -
1979 $311 - $1,735 -
1978 $249.8 - $1,556 -
1977 $207 - $1,393 -
1976 $197.7 - $1,123 -
1975 $196.5 - $937 -
1974 $164.9 - $817 -
1973 $153.6 - $769 -
1972 $127.9 - $639 -
1971 $106.9 - $570 -
1970 $108.8 - $536 -
1969 $110.3 - $477 -
1968 $111.2 - $445 -
1967 $106.6 - $414 -
1966 $107.6 - $395 -
1965 $105.1 - $374 -
1964 $99.8 - $354 -
1963 $95.7 - $346 -
1962 $90.8 - $335 -
1961 $92.1 - $356 -
1960 $89.9 - $382 -

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

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

Benin's GDP per capita is $1,485, ranking 162/197, compared to $18,587 in Costa Rica, ranking 62/197. Adjusted for purchasing power (GDP per capita PPP), Benin ranks 162nd at $4,435, while Costa Rica ranks 72nd at $31,107.

Economic indicators

Benin Costa Rica
Gross domestic product
$21.5B
2024
$95.4B
2024
GDP rank
126/197
2024
73/197
2024
GDP growth
7.45%
2023-2024
4.32%
2023-2024
GDP per capita
$1,485
2024
$18,587
2024
GDP per capita rank
162/197
2024
62/197
2024
GDP per capita, PPP
$4,435
2024
$31,107
2024
GDP per capita PPP rank
162/197
2024
72/197
2024
Government debt
$11.5B
2024
$57B
2024
Debt-to-GDP ratio
53.4%
2024
59.8%
2024
Government debt per person
$794
2024
$11,106
2024
Government debt per person rank
151/185
2024
50/185
2024
Average annual personal income after taxes
$1,091
2026
$12,150
2026
Market capitalization of domestic companies n/a
$2.23B
2022
Income share by richest 10%
27.2%
2021
34.2%
2024
Income share by poorest 10%
3.1%
2021
1.7%
2024
Government expenditure, % of GDP
18.1%
2024
18.9%
2024
Consumer prices inflation
1.2%
2023-2024
-0.41%
2023-2024
Central bank interest rate n/a
3.5%
2025
Unemployment rate
1.69%
2022
6.94%
2024
Population
15272847
5181862

Spending and national debt comparison by year

Benin
Spending

Debt
Costa Rica
Spending

Debt
1x
Year % of GDP
Benin Costa Rica
Government spending Government debt Government spending Government debt
2024 18.1% 53.4% 18.9% 59.8%
2023 19.2% 54.9% 18.5% 61.1%
2022 19.9% 54.2% 19.2% 63%
2021 19.9% 50.3% 20.8% 67.6%
2020 19.1% 46.1% 22.3% 66.9%
2019 14.3% 40.4% 21.7% 56.4%
2018 16.5% 40.8% 18.9% 51.8%
2017 17.7% 39.4% 19.2% 47.1%
2016 15.4% 35.9% 18.8% 44.1%
2015 18.2% 30.9% 18.8% 39.8%
2014 14.2% 22.3% 18.4% 37.4%
2013 14.9% 18.5% 18.5% 35.1%
2012 14.2% 19.5% 17.3% 33.7%
2011 14.7% 21.9% 17.2% 29.5%
2010 14.1% 21% 18% 28.1%
2009 17% 18.7% 16.7% 26%
2008 14.5% 18.3% 15.2% 24%
2007 15.8% 14.3% 14.6% 27%
2006 13% 8.37% 15.2% 33%
2005 14.1% 27% 15.9% 37.3%
2004 13.4% 21.5% 17% 41%
2003 13.7% 23.4% 17.6% 40.6%
2002 15.3% 30.8% 18.6% 41.4%
2001 15.4% 38% 17.3% 39.6%
2000 15.6% 39.6% 16.9% 38.9%
1999 10.7% 39.4% 16.7% 39%
1998 10.9% 39.2% 16% 40.7%
1997 12.7% 42.9% 16.3% 30.6%
1996 13.3% 43.4% 17.3% 33.7%
1995 14.8% 48.3% 16.4% 29.1%
1994 13.6% 64.6% 17.4% 27%
1993 12% 41.9% 13.8% 24.4%
1992 13.5% 41.8% 13.7% 23.3%
1991 12.6% 44% 14% 28.4%
1990 13.3% 45.3% 18.9% 18.5%
1989 17.1% 50.3% 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 (1960–1997, retrieved 2026-02-20).

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

In 2024, Benin's government spending was $3.88B, accounting for 18.1% of its GDP, while Costa Rica spent $18B, or 18.9% of GDP.

Debt-to-GDP ratio is 53.4% in Benin and 59.8% in Costa Rica, ranking 99/185 and 79/185, respectively.

Government deficit by year

Deficit/surplus
Benin

Costa Rica
1x
Year Deficit/surplus, % of GDP
Benin Costa Rica
2024 -3.06% -3.78%
2023 -4.13% -3.25%
2022 -5.55% -2.81%
2021 -5.71% -5.09%
2020 -4.68% -8.38%
2019 -0.53% -6.68%
2018 -2.96% -5.66%
2017 -4.18% -5.88%
2016 -4.29% -5.09%
2015 -5.55% -5.52%
2014 -1.65% -5.45%
2013 -1.37% -5.25%
2012 -0.22% -4.22%
2011 -0.98% -3.91%
2010 -0.28% -4.96%
2009 -2.24% -3.25%
2008 -0.04% 0.18%
2007 0.22% 0.56%
2006 -0.15% -1.04%
2005 -1.52% -2.09%
2004 -0.7% -3.42%
2003 -1.07% -3.43%
2002 -3.33% -4.99%
2001 -3.27% -3.47%
2000 -3.69% -3.68%
1999 1.94% -2.88%
1998 1.83% -2.96%
1997 0.47% -3.39%
1996 -0.11% -4.32%
1995 -1.91% -3.68%
1994 -1.57% -5.46%
1993 -0.41% -1.52%
1992 -1.98% -1.51%
1991 -2.25% -2.41%
1990 -2.37% -4.4%
1989 0.89% -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/benin/costa-rica | CC BY

In 2024, Benin's government deficit, the difference between spending and revenue, was $658M, equivalent to 3.06% of GDP. This compares to Costa Rica's deficit of $3.61B, or 3.78% of GDP.

Over the past 36 years, Benin recorded a fiscal deficit in 31 of those years, while Costa Rica ran a deficit in 34 years. On average, Benin posted an annual deficit equal to 1.84% of GDP, compared to deficit of 3.74% of GDP for Costa Rica.

Inflation comparison by year

Inflation
Benin

Costa Rica
1x
Year Consumer prices inflation
Benin Costa Rica
2024 1.2% -0.41%
2023 2.7% 0.53%
2022 1.4% 8.27%
2021 1.7% 1.73%
2020 3% 0.72%
2019 -0.9% 2.1%
2018 0.8% 2.22%
2017 1.8% 1.63%
2016 -0.8% -0.02%
2015 0.2% 0.8%
2014 -0.6% 4.52%
2013 0.4% 5.23%
2012 6.7% 4.5%
2011 2.7% 4.88%
2010 2.1% 5.66%
2009 0.9% 7.84%
2008 7.4% 13.4%
2007 1.3% 9.36%
2006 3.8% 11.5%
2005 5.4% 13.8%
2004 0.9% 12.3%
2003 1.5% 9.45%
2002 2.4% 9.17%
2001 4% 11.3%
2000 4.2% 11%
1999 0.3% 10%
1998 5.8% 11.7%
1997 3.8% 13.2%

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

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

Over the past 28 years, Benin has recorded an average annual inflation rate of 2.29%, compared with 6.66% in Costa Rica. In 2024, inflation was 1.2% in Benin and -0.41% in Costa Rica.

Top exports between countries

Benin
Export category Export value
Textiles & consumer goods $6K
Metals $3K
Chemicals & pharma $2K
Costa Rica
Export category Export value

Balance of trade

Benin Costa Rica
Current account balance
-$1.61B
2023
-$1.25B
2024
Current account balance ranking
135/190
2023
129/190
2024
Current account balance, % of GDP
-8.18%
2023
-1.31%
2024
Goods imports
$4.65B
2023
$23.1B
2024
Goods exports
$4.05B
2023
$20.6B
2024
Service imports
$1.54B
2023
$7.58B
2024
Service exports
$461M
2023
$16.3B
2024
Imports of goods and services, % of GDP
21.8%
2024
32.8%
2024
Exports of goods and services, % of GDP
18.8%
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.

Benin Costa Rica
Economic freedom 60 69.1
Economic freedom ranking 96/197 43/197
Property rights 46.4 66
Government integrity 44.1 64.1
Judicial effectiveness 47.7 76.9
Tax burden 69.4 78.6
Government spending 89.1 89.3
Fiscal health 65.4 75.6
Business freedom 53.3 79.9
Labor freedom 60.2 55.9
Monetary freedom 82.1 78.2
Trade freedom 62.6 75
Investment freedom 50 50
Financial freedom 50 40

Economic freedom comparison by year

Benin
Costa Rica
1x
Year Economic freedom index
Benin Costa Rica
2026 60 69.1
2025 58.5 68.6
2024 57.7 67.7
2023 59.8 66.5
2022 61 65.4
2021 59.6 64.2
2020 55.2 65.8
2019 55.3 65.3
2018 56.7 65.6
2017 59.2 65
2016 59.3 67.4
2015 58.8 67.2
2014 57.1 66.9
2013 57.6 67
2012 55.7 68
2011 56 67.3
2010 55.4 65.9
2009 55.4 66.4
2008 55.2 64.2
2007 55.1 64
2006 54 65.9
2005 52.3 66.1
2004 54.6 66.4
2003 54.9 67
2002 57.3 67.5
2001 60.1 67.6
2000 61.5 68.4
1999 60.6 67.4
1998 61.7 65.6
1997 61.3 65.6
1996 54.5 66.4
1995 - 68

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

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

The Economic Freedom Index for Benin is 60, ranking 96/197, 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

Benin Costa Rica
Services, % of GDP
48.9%
2024
68.8%
2024
Industry, % of GDP
17.4%
2024
19.7%
2024
Agriculture, forestry, and fishing, % of GDP
24.2%
2024
3.56%
2024
GNI, Atlas method
$20.6B
2024
$80.2B
2024
GNI per capita, PPP
$4,390
2024
$28,840
2024
Total reserves including gold n/a
$14.2B
2024
Total reserves ranking n/a
70/177
2024
Net foreign direct investment
-$430M
2023
-$4.96B
2024
Net inflows of foreign direct investment
$543M
2024
$5.3B
2024
Net outflows of foreign direct investment
$60.3M
2024
$337M
2024
Servicing debt to the IMF, % of GNI
5.38%
2024
6.31%
2023
Poverty at national poverty lines
36.2%
2021
20.3%
2024
Gross capital formation, % of GDP
35.1%
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/benin/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 (1956–1997, 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. TradeMap (2020–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.