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Economy of Costa Rica vs Dominica compared: GDP & Debt

Updated on by Georank team

Costa Rica has a GDP of $95.4B compared to $689M for Dominica, ranking 73/197 and 190/197 by economy size, respectively.

Costa Rica has $57B in government debt (59.8% of GDP), compared to $713M (103.5% of GDP) in Dominica.

Costa Rica vs Dominica GDP by year

Costa Rica
Dominica
1x
Year GDP, current $
Costa Rica Dominica
2024 $95,350,423,177 $688,881,481
2023 $86,497,941,439 $659,311,111
2022 $69,243,626,029 $623,062,963
2021 $64,960,725,734 $562,911,111
2020 $62,395,610,760 $528,944,444
2019 $64,417,670,521 $644,259,259
2018 $62,420,164,992 $628,244,444
2017 $60,516,044,657 $563,355,556
2016 $58,847,019,610 $612,711,111
2015 $56,441,920,821 $583,177,778
2014 $52,016,408,854 $572,255,556
2013 $50,949,668,842 $545,325,926
2012 $47,231,655,432 $520,355,556
2011 $42,762,613,699 $532,081,481
2010 $37,658,616,952 $519,859,259
2009 $30,745,714,313 $515,618,519
2008 $30,801,745,700 $480,003,704
2007 $26,884,700,709 $444,685,185
2006 $22,715,540,324 $416,674,074
2005 $20,040,642,477 $391,455,556
2004 $18,610,594,846 $396,711,111
2003 $17,271,760,507 $373,318,519
2002 $16,578,820,687 $375,200,000
2001 $15,976,174,337 $377,462,963
2000 $15,013,629,662 $333,470,370
1999 $14,254,866,285 $331,759,259
1998 $13,684,255,947 $322,411,111
1997 $12,614,602,382 $302,988,889
1996 $11,678,424,507 $292,285,185
1995 $11,578,594,260 $274,522,222
1994 $10,489,903,725 $264,374,074
1993 $9,564,815,975 $245,525,926
1992 $8,579,754,758 $234,059,259
1991 $7,215,725,487 $219,762,963
1990 $5,711,687,787 $201,429,630
1989 $5,251,025,767 $185,137,243
1988 $4,614,629,898 $171,106,184
1987 $4,532,952,047 $151,868,754
1986 $4,418,983,871 $135,161,959
1985 $3,919,203,960 $119,491,933
1984 $3,660,477,856 $109,157,071
1983 $3,146,772,631 $98,665,191
1982 $2,606,623,555 $89,527,577
1981 $2,623,803,096 $82,107,391
1980 $4,831,447,001 $72,804,653
1979 $4,035,519,323 $55,017,759
1978 $3,523,208,810 $57,130,216
1977 $3,072,427,013 $45,872,947
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/costa-rica/dominica | CC BY

GDP per capita in Costa Rica vs Dominica by year

Costa Rica
GDP per capita

GDP per capita, PPP
Dominica
GDP per capita

GDP per capita, PPP
1x
Year Current $
Costa Rica Dominica
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $18,587 $31,107 $10,405 $21,301
2023 $16,942 $28,909 $9,913 $20,286
2022 $13,626 $26,226 $9,324 $18,802
2021 $12,838 $23,853 $8,376 $15,809
2020 $12,394 $22,100 $7,828 $14,244
2019 $12,885 $23,340 $9,491 $16,021
2018 $12,590 $21,498 $9,215 $15,070
2017 $12,317 $20,499 $8,225 $12,696
2016 $12,091 $19,202 $8,803 $12,945
2015 $11,715 $17,525 $8,283 $12,093
2014 $10,911 $16,394 $8,132 $12,083
2013 $10,803 $15,232 $7,822 $11,286
2012 $10,127 $14,464 $7,529 $10,921
2011 $9,276 $13,614 $7,705 $11,123
2010 $8,266 $12,928 $7,550 $10,924
2009 $6,833 $12,274 $7,487 $10,804
2008 $6,937 $12,472 $6,971 $10,862
2007 $6,138 $11,842 $6,459 $9,949
2006 $5,257 $10,800 $6,056 $9,200
2005 $4,703 $9,899 $5,695 $8,557
2004 $4,431 $9,365 $5,779 $8,232
2003 $4,173 $8,863 $5,447 $7,714
2002 $4,068 $8,461 $5,488 $7,167
2001 $3,985 $8,190 $5,528 $7,291
2000 $3,813 $7,879 $4,867 $7,111
1999 $3,691 $7,563 $4,817 $6,759
1998 $3,617 $7,306 $4,664 $6,617
1997 $3,408 $6,890 $4,372 $6,290
1996 $3,227 $6,568 $4,211 $6,041
1995 $3,275 $6,515 $3,952 $5,749
1994 $3,040 $6,276 $3,805 $5,465
1993 $2,840 $6,025 $3,536 $5,352
1992 $2,612 $5,635 $3,376 $5,125
1991 $2,253 $5,175 $3,171 $4,914
1990 $1,830 $5,021 $2,893 $4,667
1989 $1,725 - $2,639 -
1988 $1,555 - $2,423 -
1987 $1,567 - $2,138 -
1986 $1,569 - $1,893 -
1985 $1,429 - $1,666 -
1984 $1,372 - $1,515 -
1983 $1,213 - $1,363 -
1982 $1,032 - $1,232 -
1981 $1,068 - $1,125 -
1980 $2,021 - $996 -
1979 $1,735 - $754 -
1978 $1,556 - $786 -
1977 $1,393 - $634 -
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/costa-rica/dominica | CC BY

Costa Rica's GDP per capita is $18,587, ranking 62/197, compared to $10,405 in Dominica, ranking 84/197. Adjusted for purchasing power (GDP per capita PPP), Costa Rica ranks 72nd at $31,107, while Dominica ranks 91st at $21,301.

Economic indicators

Costa Rica Dominica
Gross domestic product
$95.4B
2024
$689M
2024
GDP rank
73/197
2024
190/197
2024
GDP growth
4.32%
2023-2024
2.05%
2023-2024
GDP per capita
$18,587
2024
$10,405
2024
GDP per capita rank
62/197
2024
84/197
2024
GDP per capita, PPP
$31,107
2024
$21,301
2024
GDP per capita PPP rank
72/197
2024
91/197
2024
Government debt
$57B
2024
$713M
2024
Debt-to-GDP ratio
59.8%
2024
103.5%
2024
Government debt per person
$11,106
2024
$10,765
2024
Government debt per person rank
50/185
2024
55/185
2024
Average annual personal income after taxes
$12,150
2026
$6,045
2026
Market capitalization of domestic companies
$2.23B
2022
n/a
Income share by richest 10%
34.2%
2024
n/a
Income share by poorest 10%
1.7%
2024
n/a
Government expenditure, % of GDP
18.9%
2024
60.9%
2024
Consumer prices inflation
-0.41%
2023-2024
2.57%
2023-2024
Central bank interest rate
3.5%
2025
n/a
Unemployment rate
6.94%
2024
11%
2001
Population
5181862
65539

Spending and national debt comparison by year

Costa Rica
Spending

Debt
Dominica
Spending

Debt
1x
Year % of GDP
Costa Rica Dominica
Government spending Government debt Government spending Government debt
2024 18.9% 59.8% 60.9% 103.5%
2023 18.5% 61.1% 66.8% 103.2%
2022 19.2% 63% 72.7% 108.3%
2021 20.8% 67.6% 70.1% 113.6%
2020 22.3% 66.9% 70.1% 118.2%
2019 21.7% 56.4% 44% 89.1%
2018 18.9% 51.8% 66.7% 90%
2017 19.2% 47.1% 55.7% 86.7%
2016 18.8% 44.1% 45.8% 72.9%
2015 18.8% 39.8% 33.5% 71.1%
2014 18.4% 37.4% 33.3% 73.5%
2013 18.5% 35.1% 34.2% 75.6%
2012 17.3% 33.7% 36.6% 74%
2011 17.2% 29.5% 34.7% 68.6%
2010 18% 28.1% 39.7% 67.3%
2009 16.7% 26% 36.1% 62.8%
2008 15.2% 24% 35.9% 66.5%
2007 14.6% 27% 35.6% 74.9%
2006 15.2% 33% 30.9% 80.4%
2005 15.9% 37.3% 32.1% 84.9%
2004 17% 41% 30.1% 85.8%
2003 17.6% 40.6% 31.2% 98.2%
2002 18.6% 41.4% 29% 99.4%
2001 17.3% 39.6% 29.3% 97.5%
2000 16.9% 38.9% 38.9% 69.6%
1999 16.7% 39% 35.3% 62%
1998 16% 40.7% 33.5% 57.1%
1997 16.3% 30.6% 29.1% 49.3%
1996 17.3% 33.7% 29% 54.7%
1995 16.4% 29.1% 29.7% 59.3%
1994 17.4% 27% 27.7% 57%
1993 13.8% 24.4% 26.1% 55.4%
1992 13.7% 23.3% 28% 55.3%
1991 14% 28.4% 29.9% 58.7%
1990 18.9% 18.5% 32.9% 56.6%
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/costa-rica/dominica | CC BY

In 2024, Costa Rica's government spending was $18B, accounting for 18.9% of its GDP, while Dominica spent $420M, or 60.9% of GDP.

Debt-to-GDP ratio is 59.8% in Costa Rica and 103.5% in Dominica, ranking 79/185 and 20/185, respectively.

Government deficit by year

Deficit/surplus
Costa Rica

Dominica
1x
Year Deficit/surplus, % of GDP
Costa Rica Dominica
2024 -3.78% -2.28%
2023 -3.25% -4.66%
2022 -2.81% -7.49%
2021 -5.09% -8.61%
2020 -8.38% -7.91%
2019 -6.68% -7.95%
2018 -5.66% -18.1%
2017 -5.88% -3.37%
2016 -5.09% 11%
2015 -5.52% 11.8%
2014 -5.45% -5.65%
2013 -5.25% -2.95%
2012 -4.22% -5.48%
2011 -3.91% -4.34%
2010 -4.96% -3.41%
2009 -3.25% -0.31%
2008 0.18% 0.72%
2007 0.56% 1.88%
2006 -1.04% 3.04%
2005 -2.09% 0.98%
2004 -3.42% -0.67%
2003 -3.43% 0.88%
2002 -4.99% -4.13%
2001 -3.47% -6.48%
2000 -3.68% -8.75%
1999 -2.88% -9.2%
1998 -2.96% -6.08%
1997 -3.39% -2.31%
1996 -4.32% -1.62%
1995 -3.68% -2.97%
1994 -5.46% -3.42%
1993 -1.52% -1.46%
1992 -1.51% -2.28%
1991 -2.41% -3.08%
1990 -4.4% -4.87%
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/costa-rica/dominica | CC BY

In 2024, Costa Rica's government deficit, the difference between spending and revenue, was $3.61B, equivalent to 3.78% of GDP. This compares to Dominica's deficit of $15.7M, or 2.28% of GDP.

Over the past 35 years, Costa Rica recorded a fiscal deficit in 33 of those years, while Dominica ran a deficit in 28 years. On average, Costa Rica posted an annual deficit equal to 3.8% of GDP, compared to deficit of 3.13% of GDP for Dominica.

Inflation comparison by year

Inflation
Costa Rica

Dominica
1x
Year Consumer prices inflation
Costa Rica Dominica
2024 -0.41% 2.57%
2023 0.53% 5.09%
2022 8.27% 2.88%
2021 1.73% 2.23%
2020 0.72% 1.22%
2019 2.1% 1.5%
2018 2.22% 0.99%
2017 1.63% 0.3%
2016 -0.02% 0.14%
2015 0.8% -0.84%
2014 4.52% 0.8%
2013 5.23% -0.05%
2012 4.5% 1.36%
2011 4.88% 1.13%
2010 5.66% 3%
2009 7.84% 0.006%
2008 13.4% 6.36%
2007 9.36% 3.63%
2006 11.5% 2.2%
2005 13.8% 1.68%
2004 12.3% 2.39%
2003 9.45% 1.45%
2002 9.17% 0.17%
2001 11.3% 1.3%
2000 11% 0.86%
1999 10% 1.18%
1998 11.7% 1%
1997 13.2% 2.44%

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

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

Over the past 28 years, Costa Rica has recorded an average annual inflation rate of 6.66%, compared with 1.68% in Dominica. In 2024, inflation was -0.41% in Costa Rica and 2.57% in Dominica.

Top exports between countries

Costa Rica
Export category Export value
Processed food, beverages & tobacco $104K
Textiles & consumer goods $58K
Raw materials & minerals $45K
Chemicals & pharma $33K
Machinery & equipment $18K
Metals $5K
Miscellaneous $4K
Wood & paper products $4K
Dominica
Export category Export value

Balance of trade

Costa Rica Dominica
Current account balance
-$1.25B
2024
-$160M
2024
Current account balance ranking
129/190
2024
94/190
2024
Current account balance, % of GDP
-1.31%
2024
-23.2%
2024
Goods imports
$23.1B
2024
$231M
2024
Goods exports
$20.6B
2024
$22M
2024
Service imports
$7.58B
2024
$157M
2024
Service exports
$16.3B
2024
$191M
2024
Imports of goods and services, % of GDP
32.8%
2024
n/a
Exports of goods and services, % of GDP
38.5%
2024
8.5%
2025

Economic freedom indices

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

Costa Rica Dominica
Economic freedom 69.1 56.1
Economic freedom ranking 43/197 124/197
Property rights 66 65.8
Government integrity 64.1 61.2
Judicial effectiveness 76.9 77.3
Tax burden 78.6 76.1
Government spending 89.3 0
Fiscal health 75.6 45.6
Business freedom 79.9 66.2
Labor freedom 55.9 49.8
Monetary freedom 78.2 77.7
Trade freedom 75 53.2
Investment freedom 50 60
Financial freedom 40 40

Economic freedom comparison by year

Costa Rica
Dominica
1x
Year Economic freedom index
Costa Rica Dominica
2026 69.1 56.1
2025 68.6 55.3
2024 67.7 54
2023 66.5 59.7
2022 65.4 54.4
2021 64.2 53
2020 65.8 60.8
2019 65.3 63.6
2018 65.6 64.5
2017 65 63.7
2016 67.4 67
2015 67.2 66.1
2014 66.9 65.2
2013 67 63.9
2012 68 61.6
2011 67.3 63.3
2010 65.9 63.2
2009 66.4 62.6
2008 64.2 -
2007 64 -
2006 65.9 -
2005 66.1 -
2004 66.4 -
2003 67 -
2002 67.5 -
2001 67.6 -
2000 68.4 -
1999 67.4 -
1998 65.6 -
1997 65.6 -
1996 66.4 -
1995 68 -

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

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

The Economic Freedom Index for Costa Rica is 69.1, ranking 43/197, compared to 56.1 for Dominica, ranking 124/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Costa Rica Dominica
Services, % of GDP
68.8%
2024
56.9%
2024
Industry, % of GDP
19.7%
2024
13.9%
2024
Agriculture, forestry, and fishing, % of GDP
3.56%
2024
12.2%
2024
GNI, Atlas method
$80.2B
2024
$677M
2024
GNI per capita, PPP
$28,840
2024
$21,410
2024
Total reserves including gold
$14.2B
2024
$156M
2024
Total reserves ranking
70/177
2024
172/177
2024
Net foreign direct investment
-$4.96B
2024
-$36.4M
2024
Net inflows of foreign direct investment
$5.3B
2024
$60M
2024
Net outflows of foreign direct investment
$337M
2024
-$401K
2024
Servicing debt to the IMF, % of GNI
6.31%
2023
9.52%
2024
Poverty at national poverty lines
20.3%
2024
29%
2020
Gross capital formation, % of GDP
15.7%
2024
n/a

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/costa-rica/dominica | 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. TradeMap (2022–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.