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Economy of Costa Rica vs Laos compared: GDP & Debt

Updated on by Georank team

Costa Rica has a GDP of $95.4B compared to $16.5B for Laos, ranking 72/197 and 139/197 by economy size, respectively.

Costa Rica has $57B in government debt (59.7% of GDP), compared to $15.9B (91.4% of GDP) in Laos.

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

Costa Rica
GDP, current $

GDP, constant 2015 $
Laos
GDP, current $

GDP, constant 2015 $
Year GDP
Costa Rica Laos
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 $1,757,142,856 $2,109,467,955
1985 $3,919,203,960 $15,060,772,508 $2,366,666,616 $2,216,417,220
1986 $4,418,983,871 $15,894,574,653 $1,776,842,097 $2,324,692,155
1987 $4,532,952,047 $16,651,876,952 $1,087,273,104 $2,291,546,871
1988 $4,614,629,898 $17,223,393,910 $598,961,269 $2,245,482,172
1989 $5,251,025,767 $18,199,267,198 $714,046,821 $2,564,130,388
1990 $5,711,687,787 $18,845,898,693 $865,559,879 $2,736,044,527
1991 $7,215,725,487 $19,272,881,732 $1,028,087,972 $2,853,600,421
1992 $8,579,754,758 $21,046,199,573 $1,127,806,945 $3,012,256,546
1993 $9,564,815,975 $22,539,888,605 $1,327,748,690 $3,190,357,918
1994 $10,489,903,725 $23,558,472,567 $1,543,606,345 $3,450,659,812
1995 $11,578,594,260 $24,537,080,455 $1,763,536,305 $3,693,284,479
1996 $11,678,424,507 $24,868,443,787 $1,873,671,550 $3,949,167,184
1997 $12,614,602,382 $26,230,280,995 $1,747,011,857 $4,220,557,557
1998 $13,684,255,947 $28,107,138,541 $1,280,177,839 $4,388,012,740
1999 $14,254,866,285 $29,291,801,357 $1,454,430,642 $4,708,617,453
2000 $15,013,629,662 $30,425,018,574 $1,731,198,022 $4,981,659,930
2001 $15,976,174,337 $31,487,207,663 $1,768,619,058 $5,268,175,761
2002 $16,578,820,687 $32,563,086,628 $1,758,176,653 $5,579,985,581
2003 $17,271,760,507 $33,968,893,648 $2,023,324,407 $5,918,523,435
2004 $18,610,594,846 $35,471,881,179 $2,366,398,120 $6,294,805,132
2005 $20,040,642,477 $36,882,479,548 $2,735,558,735 $6,742,212,710
2006 $22,715,540,324 $39,584,746,492 $3,455,030,061 $7,323,341,972
2007 $26,884,700,709 $42,836,685,662 $4,223,152,739 $7,879,683,724
2008 $30,801,745,700 $44,866,362,741 $5,446,433,157 $8,496,261,313
2009 $30,745,714,313 $44,474,474,829 $5,836,137,330 $9,133,631,713
2010 $37,658,616,952 $46,858,459,461 $7,131,771,015 $9,912,447,860
2011 $42,762,613,699 $48,921,712,049 $8,750,104,617 $10,709,275,115
2012 $47,231,655,432 $51,310,359,848 $10,192,846,339 $11,568,812,077
2013 $50,949,668,842 $52,590,433,318 $11,983,252,627 $12,497,359,667
2014 $52,016,408,854 $54,453,244,251 $13,279,245,886 $13,448,654,116
2015 $56,441,920,821 $56,441,920,821 $14,426,380,126 $14,426,380,126
2016 $58,847,019,610 $58,814,921,621 $15,912,501,723 $15,439,521,179
2017 $60,516,044,657 $61,260,269,008 $17,071,155,481 $16,503,694,943
2018 $62,420,164,992 $62,862,779,083 $18,141,641,090 $17,534,839,203
2019 $64,417,670,521 $64,382,494,196 $18,740,561,513 $18,491,844,276
2020 $62,395,610,760 $61,631,202,098 $18,981,805,250 $18,584,864,138
2021 $64,960,725,734 $66,522,107,766 $18,827,148,531 $19,054,754,737
2022 $69,243,626,029 $69,549,856,033 $15,468,785,204 $19,570,648,222
2023 $86,497,941,439 $73,105,190,308 $15,843,155,731 $20,303,702,352
2024 $95,350,423,177 $76,264,229,554 $16,502,933,121 $21,168,286,229

Economic indicators

Costa Rica Laos
Gross domestic product
$95.4B
2024
$16.5B
2024
GDP rank
72/197
2024
139/197
2024
GDP growth
10.2%
2023-2024
4.16%
2023-2024
GDP per capita
$18,587
2024
$2,124
2024
GDP per capita rank
62/197
2024
155/197
2024
GDP per capita, PPP
$30,063
2024
$9,788
2024
Government debt
$57B
2024
$15.9B
2024
Debt-to-GDP ratio
59.7%
2025
91.4%
2025
Government debt per person
$11,106
2024
$2,049
2024
Government debt per person rank
51/185
2024
118/185
2024
Average annual personal income after taxes
$12,322
2025
$2,296
2025
Market capitalization of domestic companies
$2.23B
2022
n/a
Income share by richest 10%
34.2%
2024
31.2%
2018
Income share by poorest 10%
1.7%
2024
3%
2018
Government expenditure, % of GDP
18.3%
2025
18.4%
2025
Consumer prices inflation
-0.41%
2023-2024
7.8%
2024-2025
Central bank interest rate
3.75%
2025
n/a
Unemployment rate
6.94%
2024
1.21%
2022
Population
5170484
7954155

GDP per capita in Costa Rica vs Laos

Costa Rica's GDP per capita is $18,587, ranking 62/197, compared to $2,124 in Laos, ranking 155/197. Adjusted for purchasing power (GDP per capita PPP), Costa Rica ranks 73rd at $30,063, while Laos ranks 133rd at $9,788.

Costa Rica
GDP per capita

GDP per capita, PPP
Laos
GDP per capita

GDP per capita, PPP
Year Current $
Costa Rica Laos
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 - $483 -
1985 $1,429 - $633 -
1986 $1,569 - $462 -
1987 $1,567 - $274.7 -
1988 $1,555 - $147.1 -
1989 $1,725 - $170.4 -
1990 $1,830 $5,021 $200.7 $1,012
1991 $2,253 $5,175 $231.8 $1,061
1992 $2,612 $5,635 $247.3 $1,114
1993 $2,840 $6,025 $283.4 $1,176
1994 $3,040 $6,276 $321 $1,265
1995 $3,275 $6,515 $358 $1,349
1996 $3,227 $6,568 $371 $1,435
1997 $3,408 $6,890 $339 $1,528
1998 $3,617 $7,306 $243.9 $1,577
1999 $3,691 $7,563 $272.3 $1,686
2000 $3,813 $7,879 $319 $1,794
2001 $3,985 $8,190 $320 $1,908
2002 $4,068 $8,461 $313 $2,020
2003 $4,173 $8,863 $355 $2,151
2004 $4,431 $9,365 $409 $2,315
2005 $4,703 $9,899 $466 $2,519
2006 $5,257 $10,800 $579 $2,777
2007 $6,138 $11,842 $697 $3,021
2008 $6,937 $12,472 $886 $3,271
2009 $6,833 $12,274 $935 $3,485
2010 $8,266 $12,928 $1,126 $3,772
2011 $9,276 $13,614 $1,362 $4,100
2012 $10,127 $14,464 $1,564 $4,781
2013 $10,803 $15,232 $1,813 $5,222
2014 $10,911 $16,394 $1,981 $5,799
2015 $11,715 $17,525 $2,121 $6,086
2016 $12,091 $19,202 $2,303 $6,743
2017 $12,317 $20,499 $2,432 $7,142
2018 $12,590 $21,498 $2,545 $7,487
2019 $12,885 $23,340 $2,589 $7,743
2020 $12,394 $22,100 $2,584 $7,913
2021 $12,838 $23,853 $2,526 $8,080
2022 $13,626 $25,925 $2,046 $8,766
2023 $16,942 $28,075 $2,067 $9,292
2024 $18,587 $30,063 $2,124 $9,788

Spending and national debt comparison

In 2024, Costa Rica's government spending was $18B, accounting for 18.3% of its GDP, while Laos' spent $2.59B, or 18.4% of GDP.

Debt-to-GDP ratio is 59.7% in Costa Rica and 91.4% in Laos, ranking 83/185 and 34/185, respectively.

Costa Rica
Government spending

Government debt
Laos
Government spending

Government debt
Year % of GDP
Costa Rica Laos
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% 19.9% -
2001 17.3% 39.6% 18.8% 94.7%
2002 18.6% 41.4% 16.6% 95.3%
2003 17.6% 40.6% 16% 90.1%
2004 17% 41% 13.6% 80.7%
2005 15.9% 37.3% 15.3% 73.2%
2006 15.2% 33% 14.7% 60%
2007 14.6% 27% 15.1% 55.9%
2008 15.2% 24% 16.1% 51.7%
2009 16.7% 26% 20.1% 51.8%
2010 18% 28.1% 22.4% 49.3%
2011 17.2% 29.5% 20.2% 43%
2012 17.3% 33.7% 24.7% 46.1%
2013 18.5% 35.1% 24.2% 49.5%
2014 18.4% 37.4% 25% 53.5%
2015 18.8% 39.8% 25.8% 53.1%
2016 18.8% 44.1% 21.1% 54.5%
2017 19.2% 47.1% 21.8% 57.2%
2018 18.9% 51.8% 20.7% 60.6%
2019 21.7% 56.4% 18.6% 69.1%
2020 22.3% 66.9% 18.4% 76%
2021 20.8% 67.6% 15.7% 92.9%
2022 19.2% 63% 14.7% 130.7%
2023 18.5% 61.1% 16.5% 115.6%
2024 18.9% 59.8% 15.7% 96.4%
2025 18.3% 59.7% 18.4% 91.4%

Government deficit by year

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 Laos' surplus of $387M, or 2.34% of GDP.

Over the past 25 years, Costa Rica recorded a fiscal deficit in 23 of those years, while Laos ran a deficit in 23 years. On average, Costa Rica posted an annual deficit equal to -4.02% of GDP, compared to deficit of -2.63% of GDP for Laos.

Deficit/surplus
Costa Rica

Laos
Year Deficit/surplus, % of GDP
Costa Rica Laos
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% -3.58%
2001 -3.47% -3.68%
2002 -4.99% -2.85%
2003 -3.43% -3.89%
2004 -3.42% -1.81%
2005 -2.09% -2.54%
2006 -1.04% -1.48%
2007 0.56% -1.12%
2008 0.18% -1.86%
2009 -3.25% -3.1%
2010 -4.96% -1.47%
2011 -3.91% -1.43%
2012 -4.22% -2.34%
2013 -5.25% -4.03%
2014 -5.45% -3.13%
2015 -5.52% -5.57%
2016 -5.09% -5.06%
2017 -5.88% -5.51%
2018 -5.66% -4.46%
2019 -6.68% -3.2%
2020 -8.38% -5.37%
2021 -5.09% -0.67%
2022 -2.81% 0.06%
2023 -3.25% -0.01%
2024 -3.78% 2.34%
2025 -3.23% -0.87%

Inflation comparison by year

Over the past 29 years, Costa Rica has recorded an average annual inflation rate of 7.03%, compared with 15.8% in Laos. In 2024, inflation was -0.41% in Costa Rica and 7.8% in Laos.

Inflation
Costa Rica

Laos
Year Inflation
Costa Rica Laos Costa Rica Laos
1996 17.5% 19.1%
1997 13.2% 19.5%
1998 11.7% 90.1%
1999 10% 128.4%
2000 11% 8.4%
2001 11.3% 7.8%
2002 9.17% 10.6%
2003 9.45% 15.5%
2004 12.3% 10.5%
2005 13.8% 7.2%
2006 11.5% 6.5%
2007 9.36% 4.7%
2008 13.4% 7.6%
2009 7.84% 0.1%
2010 5.66% 6%
2011 4.88% 7.6%
2012 4.5% 4.3%
2013 5.23% 6.4%
2014 4.52% 4.1%
2015 0.8% 1.3%
2016 -0.02% 1.6%
2017 1.63% 0.8%
2018 2.22% 2%
2019 2.1% 3.3%
2020 0.72% 5.1%
2021 1.73% 3.8%
2022 8.27% 23%
2023 0.53% 31.2%
2024 -0.41% 23.1%
2025 - 7.8%

Top exports between countries

Costa Rica
Export category Export value
Chemicals & pharma $5K
Textiles & consumer goods $2K
Machinery & equipment $1K
Metals $1K
Wood & paper products $1K
Laos
Export category Export value
Textiles & consumer goods $16K

Balance of trade

Costa Rica Laos
Current account balance
-$1.29B
2024
$405M
2023
Current account balance ranking
129/189
2024
60/189
2023
Current account balance, % of GDP
-1.35%
2024
+2.55%
2023
Goods imports
$23.2B
2024
$7.65B
2023
Goods exports
$20.7B
2024
$8.37B
2023
Service imports
$7.29B
2024
$947M
2023
Service exports
$16.1B
2024
$1.33B
2023
Imports of goods and services, % of GDP
32.8%
2024
41.9%
2016
Exports of goods and services, % of GDP
38.5%
2024
33.2%
2016

Economic freedom indices

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

Costa Rica Laos
Economic freedom 68.6 51.1
Economic freedom ranking 47/197 156/197
Property rights 65.9 42.5
Government integrity 60.4 23.2
Judicial effectiveness 75.7 12.5
Tax burden 78.5 88.8
Government spending 88.6 92.9
Fiscal health 70.8 80
Business freedom 80.3 55.3
Labor freedom 62.1 42.4
Monetary freedom 74.9 52.3
Trade freedom 75.4 68.4
Investment freedom 50 35
Financial freedom 40 20

Economic freedom by year comparison

The Economic Freedom Index for Costa Rica is 68.6, ranking 47/197, compared to 51.1 for Laos, ranking 156/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Costa Rica
Laos
Year Economic freedom index
Costa Rica Laos
1995 68 -
1996 66.4 38.5
1997 65.6 35.1
1998 65.6 35.2
1999 67.4 35.2
2000 68.4 36.8
2001 67.6 33.5
2002 67.5 36.8
2003 67 41
2004 66.4 42
2005 66.1 44.4
2006 65.9 47.5
2007 64 50.3
2008 64.2 50.3
2009 66.4 50.4
2010 65.9 51.1
2011 67.3 51.3
2012 68 50
2013 67 50.1
2014 66.9 51.2
2015 67.2 51.4
2016 67.4 49.8
2017 65 54
2018 65.6 53.6
2019 65.3 57.4
2020 65.8 55.5
2021 64.2 53.9
2022 65.4 49.2
2023 66.5 50.3
2024 67.7 50.6
2025 68.6 51.1

More economic indicators

Costa Rica Laos
Services, % of GDP
68.8%
2024
43.5%
2024
Industry, % of GDP
19.7%
2024
29%
2024
Agriculture, forestry, and fishing, % of GDP
3.56%
2024
16.8%
2024
GNI, Atlas method
$80.2B
2024
$15.5B
2024
GNI per capita, PPP
$27,880
2024
$9,170
2024
Total reserves including gold
$14.2B
2024
$1.77B
2023
Total reserves ranking
70/177
2024
129/177
2023
Net foreign direct investment
-$4.28B
2024
-$1.78B
2023
Net inflows of foreign direct investment
$5.28B
2024
$988M
2024
Net outflows of foreign direct investment
$1B
2024
$6.67K
2022
Servicing debt to the IMF, % of GNI
6.31%
2023
8.36%
2023
Poverty at national poverty lines
20.3%
2024
22%
2020
Gross capital formation, % of GDP
15.7%
2024
29%
2016

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.