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Economy of Costa Rica vs Serbia compared: GDP & Debt

Updated on by Georank team

Costa Rica has a GDP of $95.4B compared to $90.1B for Serbia, ranking 73/197 and 76/197 by economy size, respectively.

Costa Rica has $57B in government debt (59.8% of GDP), compared to $40.1B (44.5% of GDP) in Serbia.

Costa Rica vs Serbia GDP by year

Costa Rica
Serbia
1x
Year GDP, current $
Costa Rica Serbia
2024 $95,350,423,177 $90,097,765,959
2023 $86,497,941,439 $81,343,999,280
2022 $69,243,626,029 $66,809,895,701
2021 $64,960,725,734 $66,159,884,073
2020 $62,395,610,760 $55,874,017,669
2019 $64,417,670,521 $53,864,693,665
2018 $62,420,164,992 $52,787,520,249
2017 $60,516,044,657 $45,972,834,714
2016 $58,847,019,610 $42,225,495,910
2015 $56,441,920,821 $41,297,410,635
2014 $52,016,408,854 $49,114,321,280
2013 $50,949,668,842 $50,455,529,604
2012 $47,231,655,432 $45,103,269,969
2011 $42,762,613,699 $51,251,098,408
2010 $37,658,616,952 $43,536,629,233
2009 $30,745,714,313 $46,955,984,410
2008 $30,801,745,700 $54,220,641,202
2007 $26,884,700,709 $44,888,028,946
2006 $22,715,540,324 $33,298,057,362
2005 $20,040,642,477 $28,334,256,181
2004 $18,610,594,846 $26,845,632,342
2003 $17,271,760,507 $23,593,044,418
2002 $16,578,820,687 $17,930,583,571
2001 $15,976,174,337 $13,599,378,662
2000 $15,013,629,662 $7,326,373,882
1999 $14,254,866,285 $20,878,694,851
1998 $13,684,255,947 $21,004,077,441
1997 $12,614,602,382 $27,153,408,995
1996 $11,678,424,507 $23,277,430,168
1995 $11,578,594,260 $17,921,892,655
1994 $10,489,903,725 -
1993 $9,564,815,975 -
1992 $8,579,754,758 -
1991 $7,215,725,487 -
1990 $5,711,687,787 -
1989 $5,251,025,767 -
1988 $4,614,629,898 -
1987 $4,532,952,047 -
1986 $4,418,983,871 -
1985 $3,919,203,960 -
1984 $3,660,477,856 -
1983 $3,146,772,631 -
1982 $2,606,623,555 -
1981 $2,623,803,096 -
1980 $4,831,447,001 -
1979 $4,035,519,323 -
1978 $3,523,208,810 -
1977 $3,072,427,013 -
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/serbia | CC BY

GDP per capita in Costa Rica vs Serbia by year

Costa Rica
GDP per capita

GDP per capita, PPP
Serbia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Costa Rica Serbia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $18,587 $31,107 $13,679 $32,832
2023 $16,942 $28,909 $12,282 $29,777
2022 $13,626 $26,226 $10,025 $26,143
2021 $12,838 $23,853 $9,681 $23,406
2020 $12,394 $22,100 $8,099 $21,013
2019 $12,885 $23,340 $7,756 $20,587
2018 $12,590 $21,498 $7,560 $18,469
2017 $12,317 $20,499 $6,548 $17,285
2016 $12,091 $19,202 $5,982 $16,455
2015 $11,715 $17,525 $5,820 $15,546
2014 $10,911 $16,394 $6,887 $15,296
2013 $10,803 $15,232 $7,040 $15,247
2012 $10,127 $14,464 $6,263 $14,506
2011 $9,276 $13,614 $7,082 $14,298
2010 $8,266 $12,928 $5,971 $13,320
2009 $6,833 $12,274 $6,414 $13,038
2008 $6,937 $12,472 $7,377 $13,123
2007 $6,138 $11,842 $6,081 $11,685
2006 $5,257 $10,800 $4,493 $10,463
2005 $4,703 $9,899 $3,808 $9,398
2004 $4,431 $9,365 $3,597 $8,715
2003 $4,173 $8,863 $3,154 $8,023
2002 $4,068 $8,461 $2,391 $7,563
2001 $3,985 $8,190 $1,812 $6,803
2000 $3,813 $7,879 $975 $6,416
1999 $3,691 $7,563 $2,769 $5,897
1998 $3,617 $7,306 $2,775 $6,460
1997 $3,408 $6,890 $3,574 $6,040
1996 $3,227 $6,568 $3,054 $5,434
1995 $3,275 $6,515 $2,349 $5,022
1994 $3,040 $6,276 - -
1993 $2,840 $6,025 - -
1992 $2,612 $5,635 - -
1991 $2,253 $5,175 - -
1990 $1,830 $5,021 - -
1989 $1,725 - - -
1988 $1,555 - - -
1987 $1,567 - - -
1986 $1,569 - - -
1985 $1,429 - - -
1984 $1,372 - - -
1983 $1,213 - - -
1982 $1,032 - - -
1981 $1,068 - - -
1980 $2,021 - - -
1979 $1,735 - - -
1978 $1,556 - - -
1977 $1,393 - - -
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/serbia | CC BY

Costa Rica's GDP per capita is $18,587, ranking 62/197, compared to $13,679 in Serbia, ranking 73/197. Adjusted for purchasing power (GDP per capita PPP), Costa Rica ranks 72nd at $31,107, while Serbia ranks 69th at $32,832.

Economic indicators

Costa Rica Serbia
Gross domestic product
$95.4B
2024
$90.1B
2024
GDP rank
73/197
2024
76/197
2024
GDP growth
4.32%
2023-2024
3.95%
2023-2024
GDP per capita
$18,587
2024
$13,679
2024
GDP per capita rank
62/197
2024
73/197
2024
GDP per capita, PPP
$31,107
2024
$32,832
2024
GDP per capita PPP rank
72/197
2024
69/197
2024
Government debt
$57B
2024
$40.1B
2024
Debt-to-GDP ratio
59.8%
2024
44.5%
2024
Government debt per person
$11,106
2024
$6,084
2024
Government debt per person rank
50/185
2024
73/185
2024
Average annual personal income after taxes
$12,150
2026
$12,252
2026
Market capitalization of domestic companies
$2.23B
2022
$4.06B
2011
Income share by richest 10%
34.2%
2024
24.7%
2022
Income share by poorest 10%
1.7%
2024
2.4%
2022
Government expenditure, % of GDP
18.9%
2024
42.7%
2024
Consumer prices inflation
-0.41%
2023-2024
4.67%
2023-2024
Central bank interest rate
3.5%
2025
5.75%
2024
Unemployment rate
6.94%
2024
7.24%
2024
Population
5181862
6494521

Spending and national debt comparison by year

Costa Rica
Spending

Debt
Serbia
Spending

Debt
1x
Year % of GDP
Costa Rica Serbia
Government spending Government debt Government spending Government debt
2024 18.9% 59.8% 42.7% 44.5%
2023 18.5% 61.1% 40.6% 45.7%
2022 19.2% 63% 41.4% 50.9%
2021 20.8% 67.6% 44.4% 53.6%
2020 22.3% 66.9% 46% 54.3%
2019 21.7% 56.4% 40.2% 49.5%
2018 18.9% 51.8% 39% 51.1%
2017 19.2% 47.1% 38.5% 55.3%
2016 18.8% 44.1% 40.3% 65%
2015 18.8% 39.8% 41% 67.1%
2014 18.4% 37.4% 42.9% 63.5%
2013 18.5% 35.1% 40.6% 54.1%
2012 17.3% 33.7% 43.3% 51.7%
2011 17.2% 29.5% 40% 42%
2010 18% 28.1% 41.2% 38.2%
2009 16.7% 26% 41.1% 32.6%
2008 15.2% 24% 43.7% 29.4%
2007 14.6% 27% 40.6% 30%
2006 15.2% 33% 41.3% 37%
2005 15.9% 37.3% 38.9% 50.1%
2004 17% 41% 37.8% 57.6%
2003 17.6% 40.6% 37.6% 64.4%
2002 18.6% 41.4% 38.6% 68.4%
2001 17.3% 39.6% 30.5% 95.9%
2000 16.9% 38.9% 28% 200.6%
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/serbia | CC BY

In 2024, Costa Rica's government spending was $18B, accounting for 18.9% of its GDP, while Serbia spent $38.4B, or 42.7% of GDP.

Debt-to-GDP ratio is 59.8% in Costa Rica and 44.5% in Serbia, ranking 79/185 and 121/185, respectively.

Government deficit by year

Deficit/surplus
Costa Rica

Serbia
1x
Year Deficit/surplus, % of GDP
Costa Rica Serbia
2024 -3.78% -1.75%
2023 -3.25% -1.21%
2022 -2.81% -0.14%
2021 -5.09% -3.16%
2020 -8.38% -6.91%
2019 -6.68% -0.004%
2018 -5.66% 0.78%
2017 -5.88% 1.32%
2016 -5.09% -1.08%
2015 -5.52% -3.25%
2014 -5.45% -5.61%
2013 -5.25% -4.79%
2012 -4.22% -6.11%
2011 -3.91% -3.75%
2010 -4.96% -3.35%
2009 -3.25% -3.3%
2008 0.18% -4.25%
2007 0.56% -0.8%
2006 -1.04% -0.9%
2005 -2.09% 1.02%
2004 -3.42% 0.06%
2003 -3.43% -2.39%
2002 -4.99% -2.33%
2001 -3.47% 0.32%
2000 -3.68% -0.15%
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/serbia | 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 Serbia's deficit of $1.58B, or 1.75% of GDP.

Over the past 25 years, Costa Rica recorded a fiscal deficit in 23 of those years, while Serbia ran a deficit in 20 years. On average, Costa Rica posted an annual deficit equal to 4.02% of GDP, compared to deficit of 2.07% of GDP for Serbia.

Inflation comparison by year

Inflation
Costa Rica

Serbia
1x
Year Consumer prices inflation
Costa Rica Serbia
2024 -0.41% 4.67%
2023 0.53% 12.4%
2022 8.27% 12%
2021 1.73% 4.09%
2020 0.72% 1.58%
2019 2.1% 1.85%
2018 2.22% 1.96%
2017 1.63% 3.13%
2016 -0.02% 1.12%
2015 0.8% 1.39%
2014 4.52% 2.08%
2013 5.23% 7.69%
2012 4.5% 7.33%
2011 4.88% 11.1%
2010 5.66% 6.14%
2009 7.84% 8.12%
2008 13.4% 12.4%
2007 9.36% 6.39%
2006 11.5% 11.7%
2005 13.8% 16.1%
2004 12.3% 11%
2003 9.45% 9.88%
2002 9.17% 19.5%
2001 11.3% 95%
2000 11% 71.1%
1999 10% 42.5%
1998 11.7% 30.2%
1997 13.2% 23.3%

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

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

Over the past 28 years, Costa Rica has recorded an average annual inflation rate of 6.66%, compared with 15.6% in Serbia. In 2024, inflation was -0.41% in Costa Rica and 4.67% in Serbia.

Top exports between countries

Costa Rica
Export category Export value
Processed food, beverages & tobacco $733K
Chemicals & pharma $5K
Serbia
Export category Export value
Chemicals & pharma $822K
Raw materials & minerals $619K
Processed food, beverages & tobacco $125K
Machinery & equipment $22K

Balance of trade

Costa Rica Serbia
Current account balance
-$1.25B
2024
-$4.1B
2024
Current account balance ranking
129/190
2024
162/190
2024
Current account balance, % of GDP
-1.31%
2024
-4.56%
2024
Goods imports
$23.1B
2024
$39.6B
2024
Goods exports
$20.6B
2024
$32.2B
2024
Service imports
$7.58B
2024
$12.6B
2024
Service exports
$16.3B
2024
$15.7B
2024
Imports of goods and services, % of GDP
32.8%
2024
58.1%
2024
Exports of goods and services, % of GDP
38.5%
2024
53.6%
2024

Economic freedom indices

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

Costa Rica Serbia
Economic freedom 69.1 65
Economic freedom ranking 43/197 68/197
Property rights 66 57.2
Government integrity 64.1 37.2
Judicial effectiveness 76.9 50.1
Tax burden 78.6 88
Government spending 89.3 48.2
Fiscal health 75.6 94.3
Business freedom 79.9 73.6
Labor freedom 55.9 61.8
Monetary freedom 78.2 73
Trade freedom 75 76.6
Investment freedom 50 70
Financial freedom 40 50

Economic freedom comparison by year

Costa Rica
Serbia
1x
Year Economic freedom index
Costa Rica Serbia
2026 69.1 65
2025 68.6 64.4
2024 67.7 62.7
2023 66.5 63.5
2022 65.4 65.2
2021 64.2 67.2
2020 65.8 66
2019 65.3 63.9
2018 65.6 62.5
2017 65 58.9
2016 67.4 62.1
2015 67.2 60
2014 66.9 59.4
2013 67 58.6
2012 68 58
2011 67.3 58
2010 65.9 56.9
2009 66.4 56.6
2008 64.2 -
2007 64 -
2006 65.9 -
2005 66.1 -
2004 66.4 -
2003 67 43.5
2002 67.5 46.6
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/serbia | CC BY

The Economic Freedom Index for Costa Rica is 69.1, ranking 43/197, compared to 65 for Serbia, ranking 68/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Costa Rica Serbia
Services, % of GDP
68.8%
2024
58.8%
2024
Industry, % of GDP
19.7%
2024
23.1%
2024
Agriculture, forestry, and fishing, % of GDP
3.56%
2024
3.17%
2024
GNI, Atlas method
$80.2B
2024
$76.5B
2024
GNI per capita, PPP
$28,840
2024
$30,770
2024
Total reserves including gold
$14.2B
2024
$30.5B
2024
Total reserves ranking
70/177
2024
55/177
2024
Net foreign direct investment
-$4.96B
2024
-$4.93B
2024
Net inflows of foreign direct investment
$5.3B
2024
$5.59B
2024
Net outflows of foreign direct investment
$337M
2024
$661M
2024
Servicing debt to the IMF, % of GNI
6.31%
2023
12.2%
2024
Poverty at national poverty lines
20.3%
2024
19.7%
2023
Gross capital formation, % of GDP
15.7%
2024
25%
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/costa-rica/serbia | CC BY

Compare countries by 7 more topics

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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 (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.