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Economy of Cameroon vs Croatia compared: GDP & Debt

Updated on by Georank team

Cameroon has a GDP of $51.3B compared to $92.5B for Croatia, ranking 92/197 and 74/197 by economy size, respectively.

Cameroon has $21.9B in government debt (39.9% of GDP), compared to $53.3B (55.9% of GDP) in Croatia.

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

Cameroon
GDP, current $

GDP, constant 2015 $
Croatia
GDP, current $

GDP, constant 2015 $
Year GDP
Cameroon Croatia
Current $ Constant $ Current $ Constant $
1960 $614,206,068 $4,827,329,402 - -
1961 $652,777,608 $4,884,469,574 - -
1962 $694,247,864 $5,033,033,600 - -
1963 $718,320,845 $5,221,397,415 - -
1964 $776,650,177 $5,406,608,720 - -
1965 $814,083,266 $5,516,149,517 - -
1966 $851,112,535 $5,770,717,369 - -
1967 $936,175,260 $5,141,012,904 - -
1968 $1,046,191,218 $5,467,278,233 - -
1969 $1,100,551,489 $5,735,255,756 - -
1970 $1,151,216,993 $5,912,593,777 - -
1971 $1,236,941,394 $6,118,334,765 - -
1972 $1,498,251,890 $6,281,929,449 - -
1973 $1,901,393,361 $6,618,369,537 - -
1974 $2,157,415,533 $7,328,802,680 - -
1975 $2,857,037,371 $8,152,930,849 - -
1976 $2,898,090,002 $7,704,916,015 - -
1977 $3,394,664,024 $8,763,561,577 - -
1978 $4,662,852,583 $10,691,808,462 - -
1979 $5,919,002,983 $11,337,071,802 - -
1980 $6,674,569,047 $11,114,265,274 - -
1981 $6,610,938,617 $13,012,879,895 - -
1982 $6,611,255,964 $13,990,954,313 - -
1983 $6,870,200,010 $14,951,689,440 - -
1984 $7,311,938,026 $16,069,264,314 - -
1985 $8,544,810,498 $17,364,955,075 - -
1986 $11,857,056,199 $18,540,851,327 - -
1987 $13,049,659,981 $18,142,844,102 - -
1988 $12,236,057,362 $16,723,414,750 - -
1989 $11,012,566,195 $16,419,195,682 - -
1990 $12,314,482,628 $15,416,689,238 $25,650,213,280 $46,596,559,831
1991 $11,840,192,296 $14,829,529,308 $18,760,386,775 $36,769,964,789
1992 $12,071,775,335 $14,369,813,424 $10,621,169,291 $32,462,991,993
1993 $16,181,814,713 $13,229,990,256 $11,259,647,874 $29,857,647,989
1994 $8,902,446,252 $13,478,291,934 $15,062,911,617 $31,610,433,645
1995 $10,864,772,471 $13,868,353,888 $22,772,394,547 $33,746,817,538
1996 $11,093,538,846 $14,452,915,010 $24,150,978,347 $35,808,404,184
1997 $10,789,458,433 $15,107,243,821 $24,175,764,812 $38,017,063,245
1998 $11,298,144,990 $15,821,141,893 $25,890,228,430 $38,873,085,038
1999 $11,565,826,465 $16,534,881,735 $23,777,026,779 $38,543,171,373
2000 $10,566,579,295 $17,168,567,485 $22,134,411,297 $39,678,365,282
2001 $10,953,485,349 $17,910,981,186 $23,066,883,850 $40,912,852,422
2002 $12,417,251,350 $18,712,860,619 $26,757,722,429 $43,287,159,654
2003 $15,970,315,035 $19,733,301,669 $35,245,317,002 $45,697,550,022
2004 $18,826,214,136 $21,124,275,033 $41,836,292,157 $47,603,359,433
2005 $19,509,852,207 $21,594,980,960 $45,013,119,282 $49,663,193,223
2006 $20,910,512,975 $22,417,659,743 $49,590,197,657 $52,186,811,454
2007 $23,928,250,433 $23,387,803,923 $59,298,265,770 $54,821,664,180
2008 $27,715,142,033 $24,053,813,244 $68,478,776,206 $55,900,878,030
2009 $27,932,970,317 $24,674,221,649 $62,321,642,125 $52,091,816,698
2010 $27,507,501,821 $25,389,533,435 $58,981,738,869 $51,396,869,396
2011 $30,630,910,495 $26,247,499,414 $62,903,737,380 $51,346,628,209
2012 $30,155,062,329 $27,461,703,152 $57,551,963,753 $50,189,405,845
2013 $33,728,621,180 $28,833,560,541 $59,852,401,272 $50,126,443,322
2014 $36,386,544,706 $30,482,787,768 $59,612,144,078 $49,847,163,745
2015 $32,210,233,020 $32,210,233,020 $51,005,200,670 $51,005,200,670
2016 $33,814,337,044 $33,671,222,913 $52,654,855,638 $52,770,556,703
2017 $36,098,547,033 $34,863,580,363 $56,186,190,438 $54,501,936,569
2018 $39,955,552,190 $36,242,614,249 $61,668,130,123 $56,085,044,234
2019 $39,667,757,528 $37,502,066,833 $61,467,582,194 $57,823,926,883
2020 $40,773,241,177 $37,599,547,049 $57,963,370,885 $53,017,808,755
2021 $45,011,937,347 $38,854,942,335 $69,006,802,299 $59,714,859,478
2022 $44,347,206,073 $40,306,867,605 $71,198,635,102 $64,066,840,477
2023 $49,279,410,983 $41,616,173,715 $84,393,795,502 $66,182,676,637
2024 $51,326,764,685 $43,143,796,435 $92,526,176,109 $68,707,509,494

Economic indicators

Cameroon Croatia
Gross domestic product
$51.3B
2024
$92.5B
2024
GDP rank
92/197
2024
74/197
2024
GDP growth
4.15%
2023-2024
9.64%
2023-2024
GDP per capita
$1,762
2024
$23,931
2024
GDP per capita rank
159/197
2024
50/197
2024
GDP per capita, PPP
$5,591
2024
$48,575
2024
Government debt
$21.9B
2024
$53.3B
2024
Debt-to-GDP ratio
39.9%
2025
55.9%
2025
Government debt per person
$752
2024
$13,796
2024
Government debt per person rank
152/185
2024
42/185
2024
Average annual personal income after taxes
$1,492
2025
$20,265
2025
Market capitalization of domestic companies n/a
$27.8B
2024
Number of billionaires n/a
1
2025
Income share by richest 10%
31.1%
2021
23.3%
2023
Income share by poorest 10%
2.1%
2021
2.9%
2023
Government expenditure, % of GDP
16.3%
2025
48.9%
2025
Consumer prices inflation
4.53%
2023-2024
2.97%
2023-2024
Unemployment rate
3.28%
2021
5.03%
2024
Population
30491011
3839202

GDP per capita in Cameroon vs Croatia

Cameroon's GDP per capita is $1,762, ranking 159/197, compared to $23,931 in Croatia, ranking 50/197. Adjusted for purchasing power (GDP per capita PPP), Cameroon ranks 155th at $5,591, while Croatia ranks 47th at $48,575.

Cameroon
GDP per capita

GDP per capita, PPP
Croatia
GDP per capita

GDP per capita, PPP
Year Current $
Cameroon Croatia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $119.1 - - -
1961 $124.6 - - -
1962 $130 - - -
1963 $131.6 - - -
1964 $139.2 - - -
1965 $142.7 - - -
1966 $145.8 - - -
1967 $156.6 - - -
1968 $170.8 - - -
1969 $175.2 - - -
1970 $178.5 - - -
1971 $186.7 - - -
1972 $220.1 - - -
1973 $271.8 - - -
1974 $299.9 - - -
1975 $386 - - -
1976 $381 - - -
1977 $435 - - -
1978 $582 - - -
1979 $718 - - -
1980 $784 - - -
1981 $750 - - -
1982 $732 - - -
1983 $746 - - -
1984 $772 - - -
1985 $875 - - -
1986 $1,179 - - -
1987 $1,258 - - -
1988 $1,145 - - -
1989 $1,001 - - -
1990 $1,087 $2,032 $5,369 $9,519
1991 $1,015 $1,963 $4,001 $7,912
1992 $1,005 $1,890 $2,321 $7,321
1993 $1,310 $1,731 $2,448 $6,856
1994 $701 $1,752 $3,238 $7,332
1995 $832 $1,790 $4,929 $8,046
1996 $827 $1,850 $5,300 $8,802
1997 $783 $1,915 $5,331 $9,534
1998 $799 $1,975 $5,713 $9,889
1999 $796 $2,039 $5,269 $9,943
2000 $709 $2,108 $4,954 $10,672
2001 $715 $2,191 $5,365 $11,654
2002 $790 $2,263 $6,220 $12,775
2003 $988 $2,368 $8,190 $13,693
2004 $1,133 $2,533 $9,719 $14,688
2005 $1,143 $2,598 $10,444 $15,451
2006 $1,191 $2,704 $11,503 $17,635
2007 $1,326 $2,818 $13,758 $19,571
2008 $1,492 $2,870 $15,889 $21,020
2009 $1,461 $2,879 $14,476 $20,350
2010 $1,399 $2,914 $13,731 $20,144
2011 $1,514 $2,989 $14,695 $21,196
2012 $1,449 $3,060 $13,509 $21,620
2013 $1,576 $3,239 $14,136 $22,432
2014 $1,649 $3,422 $14,188 $22,708
2015 $1,415 $3,498 $12,285 $23,759
2016 $1,442 $3,627 $12,821 $25,804
2017 $1,496 $3,767 $13,903 $27,889
2018 $1,611 $4,011 $15,460 $29,789
2019 $1,555 $4,241 $15,564 $33,064
2020 $1,556 $4,365 $14,808 $31,596
2021 $1,672 $4,794 $17,790 $36,933
2022 $1,605 $5,189 $18,466 $41,960
2023 $1,737 $5,406 $21,865 $45,603
2024 $1,762 $5,591 $23,931 $48,575

Spending and national debt comparison

In 2024, Cameroon's government spending was $8.52B, accounting for 16.3% of its GDP, while Croatia's spent $44.8B, or 48.9% of GDP.

Debt-to-GDP ratio is 39.9% in Cameroon and 55.9% in Croatia, ranking 136/185 and 94/185, respectively.

Cameroon
Government spending

Government debt
Croatia
Government spending

Government debt
Year % of GDP
Cameroon Croatia
Government spending Government debt Government spending Government debt
1992 - - 37.1% -
1993 - - 36% -
1994 - - 45.4% -
1995 - - 50.3% -
1996 - - 52.1% -
1997 - - 51.7% 22.5%
1998 - 67.8% 56.8% 23.3%
1999 - 68.4% 58.9% 30%
2000 14.6% 75.9% 54.6% 35.4%
2001 14.6% 62.2% 50.6% 36.6%
2002 13.9% 56.6% 49.2% 36.5%
2003 13.2% 51.5% 49.6% 37.8%
2004 13.4% 51.7% 49% 40%
2005 12.4% 43.8% 46.5% 40.9%
2006 12.5% 18.4% 44.6% 38.4%
2007 13.5% 13.8% 46.3% 37.1%
2008 15.9% 11.2% 46.3% 38.9%
2009 14.7% 11.3% 49.2% 47.9%
2010 15.2% 14% 48.1% 56.8%
2011 17.8% 15% 48.6% 63.1%
2012 17.2% 14.9% 47.3% 68.9%
2013 19.2% 17.5% 47.9% 79.5%
2014 20.1% 20.7% 48.7% 83.2%
2015 20.1% 31.6% 47.5% 82.8%
2016 20.2% 32.1% 45.9% 79.3%
2017 19.2% 36.5% 44.1% 76.2%
2018 18% 38.3% 44.9% 72.8%
2019 18.7% 41.6% 44.3% 70.9%
2020 16.6% 44.9% 53.7% 86.5%
2021 17.1% 47.2% 48.1% 78.2%
2022 17.1% 45.6% 44.9% 68.5%
2023 17.1% 43.2% 46.6% 61.8%
2024 16.6% 42.7% 48.4% 57.6%
2025 16.3% 39.9% 48.9% 55.9%

Government deficit by year

In 2024, Cameroon's government deficit, the difference between spending and revenue, was -$307M, equivalent to -0.6% of GDP. This compares to Croatia's deficit of -$1.98B, or -2.14% of GDP.

Over the past 25 years, Cameroon recorded a fiscal deficit in 17 of those years, while Croatia ran a deficit in 21 years. On average, Cameroon posted an annual deficit equal to -0.007% of GDP, compared to deficit of -3.64% of GDP for Croatia.

Deficit/surplus
Cameroon

Croatia
Year Deficit/surplus, % of GDP
Cameroon Croatia
1992 - -5.69%
1993 - -2.67%
1994 - -0.82%
1995 - -4.23%
1996 - -4.41%
1997 - -4.93%
1998 - -6.36%
1999 - -11.1%
2000 1.54% -9.2%
2001 0.86% -4.79%
2002 1.51% -4.9%
2003 0.56% -5.03%
2004 -0.46% -6.09%
2005 3.03% -3.24%
2006 28.2% -2.01%
2007 3.87% -2.28%
2008 2% -2.34%
2009 -0.04% -7.15%
2010 -0.93% -6.46%
2011 -2.26% -7.53%
2012 -1.4% -5.46%
2013 -3.55% -5.52%
2014 -4.09% -5.19%
2015 -4.25% -3.53%
2016 -5.88% -1.04%
2017 -4.72% 0.8%
2018 -2.41% 0.23%
2019 -3.24% 2.31%
2020 -3.19% -7.23%
2021 -3.01% -2.55%
2022 -1.11% 0.14%
2023 -0.63% -0.86%
2024 -0.6% -2.14%
2025 -0.84% -2.36%

Inflation comparison by year

Over the past 29 years, Cameroon has recorded an average annual inflation rate of 2.79%, compared with 2.95% in Croatia. In 2024, inflation was 4.53% in Cameroon and 2.97% in Croatia.

Inflation
Cameroon

Croatia
Year Inflation
Cameroon Croatia Cameroon Croatia
1996 3.92% 4.3%
1997 4.79% 4.17%
1998 3.17% 6.4%
1999 1.87% 4.02%
2000 1.23% 4.61%
2001 4.42% 3.78%
2002 2.83% 1.67%
2003 0.62% 1.77%
2004 0.23% 2.06%
2005 2.01% 3.32%
2006 5.12% 3.19%
2007 0.92% 2.9%
2008 5.34% 6.08%
2009 3.04% 2.38%
2010 1.28% 1.03%
2011 2.94% 2.27%
2012 2.74% 3.41%
2013 2.05% 2.22%
2014 1.85% -0.22%
2015 2.68% -0.46%
2016 0.87% -1.12%
2017 0.64% 1.13%
2018 1.07% 1.5%
2019 2.45% 0.77%
2020 2.44% 0.15%
2021 2.27% 2.55%
2022 6.25% 10.8%
2023 7.38% 7.94%
2024 4.53% 2.97%

Top exports between countries

Cameroon
Export category Export value
Wood & paper products $164K
Processed food, beverages & tobacco $103K
Raw agricultural goods $47K
Croatia
Export category Export value
Wood & paper products $3.74M
Raw agricultural goods $2.48M
Weapons & explosives $2.46M
Machinery & equipment $385K
Animal & marine products $55K
Chemicals & pharma $1K
Textiles & consumer goods $1K

Balance of trade

Cameroon Croatia
Current account balance
-$2.02B
2023
-$1.05B
2024
Current account balance ranking
143/189
2023
124/189
2024
Current account balance, % of GDP
-4.1%
2023
-1.13%
2024
Goods imports
$7.74B
2023
$41.5B
2024
Goods exports
$6.34B
2023
$21.9B
2024
Service imports
$2.55B
2023
$8.35B
2024
Service exports
$2.01B
2023
$24.7B
2024
Imports of goods and services, % of GDP
21.1%
2024
52.9%
2024
Exports of goods and services, % of GDP
14.7%
2024
49.8%
2024

Economic freedom indices

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

Cameroon Croatia
Economic freedom 52.1 68.7
Economic freedom ranking 149/197 45/197
Property rights 31.3 81.3
Government integrity 20.7 53.4
Judicial effectiveness 10.3 71.4
Tax burden 72.9 77.3
Government spending 91.2 35.1
Fiscal health 92.3 90.3
Business freedom 48.8 80.4
Labor freedom 46.5 69.1
Monetary freedom 73.7 66.6
Trade freedom 57.2 79.6
Investment freedom 30 60
Financial freedom 50 60

Economic freedom by year comparison

The Economic Freedom Index for Cameroon is 52.1, ranking 149/197, compared to 68.7 for Croatia, ranking 45/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Cameroon
Croatia
Year Economic freedom index
Cameroon Croatia
1995 51.3 -
1996 45.7 48
1997 44.6 46.7
1998 48 51.7
1999 50.3 53.1
2000 49.9 53.6
2001 53.3 50.7
2002 52.8 51.1
2003 52.7 53.3
2004 52.3 53.1
2005 53 51.9
2006 54.6 53.6
2007 55.6 53.4
2008 54.3 54.1
2009 53 55.1
2010 52.3 59.2
2011 51.8 61.1
2012 51.8 60.9
2013 52.3 61.3
2014 52.6 60.4
2015 51.9 61.5
2016 54.2 59.1
2017 51.8 59.4
2018 51.9 61
2019 52.4 61.4
2020 53.6 62.2
2021 53.4 63.6
2022 52.9 67.6
2023 51.9 66.4
2024 53.6 67.2
2025 52.1 68.7

More economic indicators

Cameroon Croatia
Services, % of GDP
49.9%
2024
59.7%
2024
Industry, % of GDP
25.6%
2024
19.8%
2024
Agriculture, forestry, and fishing, % of GDP
17.4%
2024
3.41%
2024
GNI, Atlas method
$49B
2024
$85.4B
2024
GNI per capita, PPP
$5,490
2024
$48,760
2024
Total reserves including gold
$4.88B
2023
$3.34B
2024
Total reserves ranking
103/177
2023
116/177
2024
Net foreign direct investment
-$901M
2023
-$1.88B
2024
Net inflows of foreign direct investment
$925M
2024
$4.67B
2024
Net outflows of foreign direct investment
$5.56M
2024
$2.79B
2024
Servicing debt to the IMF, % of GNI
3.53%
2023
n/a
Poverty at national poverty lines
37.7%
2021
20.3%
2023
Gross capital formation, % of GDP
21.4%
2024
23.5%
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.