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Economy of Costa Rica vs Liberia compared: GDP & Debt

Updated on by Georank team

Costa Rica has a GDP of $95.4B compared to $4.78B for Liberia, ranking 73/197 and 163/197 by economy size, respectively.

Costa Rica has $57B in government debt (59.8% of GDP), compared to $2.73B (57.2% of GDP) in Liberia.

Costa Rica vs Liberia GDP by year

Costa Rica
Liberia
1x
Year GDP, current $
Costa Rica Liberia
2024 $95,350,423,177 $4,779,300,900
2023 $86,497,941,439 $4,390,000,000
2022 $69,243,626,029 $4,001,047,000
2021 $64,960,725,734 $3,513,049,500
2020 $62,395,610,760 $3,176,126,300
2019 $64,417,670,521 $3,319,596,500
2018 $62,420,164,992 $3,422,754,800
2017 $60,516,044,657 $3,390,703,400
2016 $58,847,019,610 $3,398,419,600
2015 $56,441,920,821 $3,227,075,700
2014 $52,016,408,854 $3,225,652,000
2013 $50,949,668,842 $3,177,198,100
2012 $47,231,655,432 $2,791,614,000
2011 $42,762,613,699 $2,398,000,000
2010 $37,658,616,952 $1,998,000,000
2009 $30,745,714,313 $1,768,000,000
2008 $30,801,745,700 $1,726,000,000
2007 $26,884,700,709 $1,373,000,000
2006 $22,715,540,324 $1,119,000,000
2005 $20,040,642,477 $949,000,000
2004 $18,610,594,846 $897,000,000
2003 $17,271,760,507 $748,000,000
2002 $16,578,820,687 $927,000,000
2001 $15,976,174,337 $906,000,000
2000 $15,013,629,662 $874,000,000
1999 $14,254,866,285 $441,800,000
1998 $13,684,255,947 $359,600,000
1997 $12,614,602,382 $295,900,000
1996 $11,678,424,507 $159,400,000
1995 $11,578,594,260 $134,800,000
1994 $10,489,903,725 $132,200,000
1993 $9,564,815,975 $160,400,000
1992 $8,579,754,758 $223,500,000
1991 $7,215,725,487 $348,000,000
1990 $5,711,687,787 $384,400,000
1989 $5,251,025,767 $786,300,000
1988 $4,614,629,898 $1,038,300,000
1987 $4,532,952,047 $972,800,000
1986 $4,418,983,871 $840,964,400
1985 $3,919,203,960 $851,296,100
1984 $3,660,477,856 $848,478,300
1983 $3,146,772,631 $823,374,900
1982 $2,606,623,555 $863,933,200
1981 $2,623,803,096 $846,514,500
1980 $4,831,447,001 $854,711,500
1979 $4,035,519,323 $814,067,900
1978 $3,523,208,810 $717,240,400
1977 $3,072,427,013 $673,010,600
1976 $2,412,555,426 $596,675,700
1975 $1,960,863,466 $577,549,300
1974 $1,666,544,754 $486,955,000
1973 $1,528,925,846 $386,968,300
1972 $1,238,251,696 $368,098,000
1971 $1,077,147,538 $341,543,100
1970 $984,830,158 $323,099,700
1969 $853,630,204 $306,961,800
1968 $773,841,494 $276,820,700
1967 $699,456,619 $261,024,300
1966 $647,305,630 $244,459,500
1965 $592,981,162 $229,260,800
1964 $542,578,367 $218,929,100
1963 $511,902,137 $200,229,600
1962 $479,180,824 $191,861,800
1961 $490,325,182 $183,920,900
1960 $507,513,830 $190,495,600

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

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

GDP per capita in Costa Rica vs Liberia by year

Costa Rica
GDP per capita

GDP per capita, PPP
Liberia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Costa Rica Liberia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $18,587 $31,107 $851 $1,871
2023 $16,942 $28,909 $799 $1,795
2022 $13,626 $26,226 $745 $1,692
2021 $12,838 $23,853 $668 $1,539
2020 $12,394 $22,100 $617 $1,660
2019 $12,885 $23,340 $658 $1,900
2018 $12,590 $21,498 $692 $1,800
2017 $12,317 $20,499 $699 $1,665
2016 $12,091 $19,202 $715 $1,490
2015 $11,715 $17,525 $693 $1,340
2014 $10,911 $16,394 $707 $1,419
2013 $10,803 $15,232 $711 $1,360
2012 $10,127 $14,464 $638 $1,157
2011 $9,276 $13,614 $568 $1,041
2010 $8,266 $12,928 $492 $980
2009 $6,833 $12,274 $448 $939
2008 $6,937 $12,472 $452 $915
2007 $6,138 $11,842 $374 $873
2006 $5,257 $10,800 $321 $815
2005 $4,703 $9,899 $287.5 $774
2004 $4,431 $9,365 $284.1 $745
2003 $4,173 $8,863 $239.8 $716
2002 $4,068 $8,461 $299.5 $1,013
2001 $3,985 $8,190 $300 $987
2000 $3,813 $7,879 $298.5 $965
1999 $3,691 $7,563 $156.6 $762
1998 $3,617 $7,306 $134.7 $652
1997 $3,408 $6,890 $122.6 $548
1996 $3,227 $6,568 $71.4 $282.2
1995 $3,275 $6,515 $62.1 $254.4
1994 $3,040 $6,276 $61.5 $262.6
1993 $2,840 $6,025 $74.4 $328
1992 $2,612 $5,635 $107.8 $497
1991 $2,253 $5,175 $177.9 $793
1990 $1,830 $5,021 $172.9 $787
1989 $1,725 - $312 -
1988 $1,555 - $424 -
1987 $1,567 - $409 -
1986 $1,569 - $364 -
1985 $1,429 - $380 -
1984 $1,372 - $390 -
1983 $1,213 - $391 -
1982 $1,032 - $422 -
1981 $1,068 - $426 -
1980 $2,021 - $443 -
1979 $1,735 - $435 -
1978 $1,556 - $394 -
1977 $1,393 - $381 -
1976 $1,123 - $347 -
1975 $937 - $346 -
1974 $817 - $299.4 -
1973 $769 - $244.4 -
1972 $639 - $238.6 -
1971 $570 - $227.1 -
1970 $536 - $220.3 -
1969 $477 - $214.7 -
1968 $445 - $198.6 -
1967 $414 - $192.2 -
1966 $395 - $184.6 -
1965 $374 - $177.6 -
1964 $354 - $173.9 -
1963 $346 - $163.1 -
1962 $335 - $160.3 -
1961 $356 - $157.5 -
1960 $382 - $167.2 -

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

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

Costa Rica's GDP per capita is $18,587, ranking 62/197, compared to $851 in Liberia, ranking 184/197. Adjusted for purchasing power (GDP per capita PPP), Costa Rica ranks 72nd at $31,107, while Liberia ranks 188th at $1,871.

Economic indicators

Costa Rica Liberia
Gross domestic product
$95.4B
2024
$4.78B
2024
GDP rank
73/197
2024
163/197
2024
GDP growth
4.32%
2023-2024
4.02%
2023-2024
GDP per capita
$18,587
2024
$851
2024
GDP per capita rank
62/197
2024
184/197
2024
GDP per capita, PPP
$31,107
2024
$1,871
2024
GDP per capita PPP rank
72/197
2024
188/197
2024
Government debt
$57B
2024
$2.73B
2024
Debt-to-GDP ratio
59.8%
2024
57.2%
2024
Government debt per person
$11,106
2024
$487
2024
Government debt per person rank
50/185
2024
167/185
2024
Average annual personal income after taxes
$12,150
2026
$1,191
2026
Market capitalization of domestic companies
$2.23B
2022
n/a
Income share by richest 10%
34.2%
2024
27.1%
2016
Income share by poorest 10%
1.7%
2024
2.9%
2016
Government expenditure, % of GDP
18.9%
2024
24.3%
2024
Consumer prices inflation
-0.41%
2023-2024
8.2%
2023-2024
Central bank interest rate
3.5%
2025
n/a
Unemployment rate
6.94%
2024
5.93%
2017
Population
5181862
5887000

Spending and national debt comparison by year

Costa Rica
Spending

Debt
Liberia
Spending

Debt
1x
Year % of GDP
Costa Rica Liberia
Government spending Government debt Government spending Government debt
2024 18.9% 59.8% 24.3% 57.2%
2023 18.5% 61.1% 27.1% 57.8%
2022 19.2% 63% 26.9% 54.3%
2021 20.8% 67.6% 29.8% 53.3%
2020 22.3% 66.9% 35.3% 58.7%
2019 21.7% 56.4% 32.3% 48.6%
2018 18.9% 51.8% 32.7% 37.1%
2017 19.2% 47.1% 35.1% 31.8%
2016 18.8% 44.1% 35.8% 28.6%
2015 18.8% 39.8% 37.1% 24.8%
2014 18.4% 37.4% 33.4% 24.3%
2013 18.5% 35.1% 27.4% 20.6%
2012 17.3% 33.7% 30.8% 20.5%
2011 17.2% 29.5% 30.1% 22.7%
2010 18% 28.1% 25.2% 25.6%
2009 16.7% 26% 23.7% 130.9%
2008 15.2% 24% 21.6% 233.1%
2007 14.6% 27% 17.2% 394%
2006 15.2% 33% 11.1% 472%
2005 15.9% 37.3% 12.8% 535%
2004 17% 41% 12.1% 543%
2003 17.6% 40.6% 9.85% 658%
2002 18.6% 41.4% 13.2% 481%
2001 17.3% 39.6% 12.6% 484%
2000 16.9% 38.9% 15.2% 489%
1999 16.7% 39% - -
1998 16% 40.7% - -
1997 16.3% 30.6% - -
1996 17.3% 33.7% - -
1995 16.4% 29.1% - -
1994 17.4% 27% - -
1993 13.8% 24.4% - -
1992 13.7% 23.3% - -
1991 14% 28.4% - -
1990 18.9% 18.5% - -
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/liberia | CC BY

In 2024, Costa Rica's government spending was $18B, accounting for 18.9% of its GDP, while Liberia spent $1.16B, or 24.3% of GDP.

Debt-to-GDP ratio is 59.8% in Costa Rica and 57.2% in Liberia, ranking 79/185 and 91/185, respectively.

Government deficit by year

Deficit/surplus
Costa Rica

Liberia
1x
Year Deficit/surplus, % of GDP
Costa Rica Liberia
2024 -3.78% -1.98%
2023 -3.25% -7.03%
2022 -2.81% -5.33%
2021 -5.09% -2.5%
2020 -8.38% -4.02%
2019 -6.68% -4.92%
2018 -5.66% -4.7%
2017 -5.88% -7.14%
2016 -5.09% -3.83%
2015 -5.52% -3.74%
2014 -5.45% -4.92%
2013 -5.25% 1.29%
2012 -4.22% -2.86%
2011 -3.91% -4.43%
2010 -4.96% 1.17%
2009 -3.25% -1.39%
2008 0.18% -2.68%
2007 0.56% 2.44%
2006 -1.04% 4.42%
2005 -2.09% -0.55%
2004 -3.42% -0.56%
2003 -3.43% 0.39%
2002 -4.99% -1.63%
2001 -3.47% -0.98%
2000 -3.68% -0.08%
1999 -2.88% -
1998 -2.96% -
1997 -3.39% -
1996 -4.32% -
1995 -3.68% -
1994 -5.46% -
1993 -1.52% -
1992 -1.51% -
1991 -2.41% -
1990 -4.4% -
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/liberia | 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 Liberia's deficit of $94.6M, or 1.98% of GDP.

Over the past 25 years, Costa Rica recorded a fiscal deficit in 23 of those years, while Liberia ran a deficit in 20 years. On average, Costa Rica posted an annual deficit equal to 4.02% of GDP, compared to deficit of 2.22% of GDP for Liberia.

Inflation comparison by year

Inflation
Costa Rica

Liberia
1x
Year Consumer prices inflation
Costa Rica Liberia
2024 -0.41% 8.2%
2023 0.53% 10.1%
2022 8.27% 7.6%
2021 1.73% 7.8%
2020 0.72% 17%
2019 2.1% 27%
2018 2.22% 23.5%
2017 1.63% 12.4%
2016 -0.02% 8.8%
2015 0.8% 7.7%
2014 4.52% 9.9%
2013 5.23% 7.6%
2012 4.5% 6.8%
2011 4.88% 8.5%
2010 5.66% 7.3%
2009 7.84% 7.4%
2008 13.4% 17.5%
2007 9.36% 11.4%
2006 11.5% 9.5%
2005 13.8% 6.9%
2004 12.3% 3.6%
2003 9.45% 10.3%
2002 9.17% 14.2%
2001 11.3% 12.1%
2000 11% 5.3%
1999 10% 2%
1998 11.7% -
1997 13.2% -

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06); International Monetary Fund (IMF) | World Economic Outlook (1999–2024, retrieved 2026-02-20).

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

Over the past 26 years, Costa Rica has recorded an average annual inflation rate of 6.21%, compared with 10.4% in Liberia. In 2024, inflation was -0.41% in Costa Rica and 8.2% in Liberia.

Top exports between countries

Costa Rica
Export category Export value
Raw materials & minerals $64K
Chemicals & pharma $2K
Machinery & equipment $1K
Liberia
Export category Export value

Balance of trade

Costa Rica Liberia
Current account balance
-$1.25B
2024
$64.8M
2022
Current account balance ranking
129/190
2024
73/190
2022
Current account balance, % of GDP
-1.31%
2024
+1.62%
2022
Goods imports
$23.1B
2024
$1.53B
2022
Goods exports
$20.6B
2024
$1.03B
2022
Service imports
$7.58B
2024
$434M
2022
Service exports
$16.3B
2024
$192M
2022
Imports of goods and services, % of GDP
32.8%
2024
n/a
Exports of goods and services, % of GDP
38.5%
2024
28.5%
2025

Economic freedom indices

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

Costa Rica Liberia
Economic freedom 69.1 49.8
Economic freedom ranking 43/197 163/197
Property rights 66 40.4
Government integrity 64.1 25.8
Judicial effectiveness 76.9 23.4
Tax burden 78.6 86.1
Government spending 89.3 79.5
Fiscal health 75.6 56.9
Business freedom 79.9 38
Labor freedom 55.9 43.4
Monetary freedom 78.2 71.4
Trade freedom 75 57.4
Investment freedom 50 55
Financial freedom 40 20

Economic freedom comparison by year

Costa Rica
Liberia
1x
Year Economic freedom index
Costa Rica Liberia
2026 69.1 49.8
2025 68.6 48.5
2024 67.7 49.9
2023 66.5 49.6
2022 65.4 47.9
2021 64.2 49.2
2020 65.8 49
2019 65.3 49.7
2018 65.6 50.9
2017 65 49.1
2016 67.4 52.2
2015 67.2 52.7
2014 66.9 52.4
2013 67 49.3
2012 68 48.6
2011 67.3 46.5
2010 65.9 46.2
2009 66.4 48.1
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/liberia | CC BY

The Economic Freedom Index for Costa Rica is 69.1, ranking 43/197, compared to 49.8 for Liberia, ranking 163/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Costa Rica Liberia
Services, % of GDP
68.8%
2024
41.9%
2024
Industry, % of GDP
19.7%
2024
22.7%
2024
Agriculture, forestry, and fishing, % of GDP
3.56%
2024
33.8%
2024
GNI, Atlas method
$80.2B
2024
$4.28B
2024
GNI per capita, PPP
$28,840
2024
$1,750
2024
Total reserves including gold
$14.2B
2024
$600M
2022
Total reserves ranking
70/177
2024
153/177
2022
Net foreign direct investment
-$4.96B
2024
-$960M
2022
Net inflows of foreign direct investment
$5.3B
2024
$472M
2024
Net outflows of foreign direct investment
$337M
2024
$74.9M
2024
Servicing debt to the IMF, % of GNI
6.31%
2023
3.09%
2024
Poverty at national poverty lines
20.3%
2024
50.9%
2016
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/liberia | 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 (2022–2023, 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.