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Economy of Costa Rica vs Solomon Islands compared: GDP & Debt

Updated on by Georank team

Costa Rica has a GDP of $95.4B compared to $1.58B for the Solomon Islands, ranking 73/197 and 182/197 by economy size, respectively.

Costa Rica has $57B in government debt (59.8% of GDP), compared to $350M (22.1% of GDP) in the Solomon Islands.

Costa Rica vs Solomon Islands GDP by year

Costa Rica
Solomon Islands
1x
Year GDP, current $
Costa Rica Solomon Islands
2024 $95,350,423,177 $1,583,964,704
2023 $86,497,941,439 $1,506,124,566
2022 $69,243,626,029 $1,466,670,930
2021 $64,960,725,734 $1,558,312,104
2020 $62,395,610,760 $1,536,143,428
2019 $64,417,670,521 $1,619,150,564
2018 $62,420,164,992 $1,615,473,250
2017 $60,516,044,657 $1,469,790,526
2016 $58,847,019,610 $1,379,486,291
2015 $56,441,920,821 $1,307,908,814
2014 $52,016,408,854 $1,335,576,763
2013 $50,949,668,842 $1,285,905,958
2012 $47,231,655,432 $1,185,217,634
2011 $42,762,613,699 $1,063,898,227
2010 $37,658,616,952 $898,128,551
2009 $30,745,714,313 $805,557,289
2008 $30,801,745,700 $776,335,523
2007 $26,884,700,709 $695,291,218
2006 $22,715,540,324 $617,257,458
2005 $20,040,642,477 $552,881,357
2004 $18,610,594,846 $468,000,121
2003 $17,271,760,507 $417,666,639
2002 $16,578,820,687 $346,406,739
2001 $15,976,174,337 $409,508,553
2000 $15,013,629,662 $419,842,674
1999 $14,254,866,285 $488,024,514
1998 $13,684,255,947 $457,579,840
1997 $12,614,602,382 $526,554,006
1996 $11,678,424,507 $510,586,430
1995 $11,578,594,260 $469,443,202
1994 $10,489,903,725 $402,837,005
1993 $9,564,815,975 $300,746,361
1992 $8,579,754,758 $269,034,596
1991 $7,215,725,487 $227,540,473
1990 $5,711,687,787 $214,877,667
1989 $5,251,025,767 $172,882,411
1988 $4,614,629,898 $176,494,394
1987 $4,532,952,047 $155,128,542
1986 $4,418,983,871 $147,620,048
1985 $3,919,203,960 $165,524,943
1984 $3,660,477,856 $181,570,474
1983 $3,146,772,631 $181,220,399
1982 $2,606,623,555 $192,902,019
1981 $2,623,803,096 $193,750,541
1980 $4,831,447,001 $182,852,107
1979 $4,035,519,323 $151,276,496
1978 $3,523,208,810 $111,027,427
1977 $3,072,427,013 $93,145,283
1976 $2,412,555,426 $83,100,834
1975 $1,960,863,466 $74,620,320
1974 $1,666,544,754 $84,539,332
1973 $1,528,925,846 $55,272,109
1972 $1,238,251,696 $40,606,712
1971 $1,077,147,538 $50,056,883
1970 $984,830,158 -
1969 $853,630,204 $28,606,411
1968 $773,841,494 $28,084,253
1967 $699,456,619 $25,203,524
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/solomon-islands | CC BY

GDP per capita in Costa Rica vs Solomon Islands by year

Costa Rica
GDP per capita

GDP per capita, PPP
Solomon Islands
GDP per capita

GDP per capita, PPP
1x
Year Current $
Costa Rica Solomon Islands
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $18,587 $31,107 $1,934 $2,675
2023 $16,942 $28,909 $1,883 $2,597
2022 $13,626 $26,226 $1,878 $2,496
2021 $12,838 $23,853 $2,043 $2,450
2020 $12,394 $22,100 $2,063 $2,405
2019 $12,885 $23,340 $2,224 $2,512
2018 $12,590 $21,498 $2,278 $2,494
2017 $12,317 $20,499 $2,144 $2,454
2016 $12,091 $19,202 $2,083 $2,421
2015 $11,715 $17,525 $2,045 $2,354
2014 $10,911 $16,394 $2,165 $2,377
2013 $10,803 $15,232 $2,161 $2,394
2012 $10,127 $14,464 $2,066 $2,320
2011 $9,276 $13,614 $1,924 $2,306
2010 $8,266 $12,928 $1,685 $2,182
2009 $6,833 $12,274 $1,555 $2,021
2008 $6,937 $12,472 $1,526 $1,989
2007 $6,138 $11,842 $1,390 $1,869
2006 $5,257 $10,800 $1,256 $1,786
2005 $4,703 $9,899 $1,144 $1,693
2004 $4,431 $9,365 $986 $1,556
2003 $4,173 $8,863 $896 $1,433
2002 $4,068 $8,461 $757 $1,344
2001 $3,985 $8,190 $912 $1,387
2000 $3,813 $7,879 $953 $1,503
1999 $3,691 $7,563 $1,134 $1,754
1998 $3,617 $7,306 $1,092 $1,785
1997 $3,408 $6,890 $1,292 $1,793
1996 $3,227 $6,568 $1,289 $1,830
1995 $3,275 $6,515 $1,220 $1,820
1994 $3,040 $6,276 $1,078 $1,668
1993 $2,840 $6,025 $829 $1,556
1992 $2,612 $5,635 $764 $1,505
1991 $2,253 $5,175 $666 $1,346
1990 $1,830 $5,021 $648 $1,266
1989 $1,725 - $538 -
1988 $1,555 - $567 -
1987 $1,567 - $515 -
1986 $1,569 - $506 -
1985 $1,429 - $586 -
1984 $1,372 - $665 -
1983 $1,213 - $686 -
1982 $1,032 - $756 -
1981 $1,068 - $786 -
1980 $2,021 - $768 -
1979 $1,735 - $658 -
1978 $1,556 - $500 -
1977 $1,393 - $434 -
1976 $1,123 - $401 -
1975 $937 - $372 -
1974 $817 - $433 -
1973 $769 - $291.3 -
1972 $639 - $219.5 -
1971 $570 - $277.1 -
1970 $536 - - -
1969 $477 - $165.9 -
1968 $445 - $166.9 -
1967 $414 - $153.5 -
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/solomon-islands | CC BY

Costa Rica's GDP per capita is $18,587, ranking 62/197, compared to $1,934 in the Solomon Islands, ranking 157/197. Adjusted for purchasing power (GDP per capita PPP), Costa Rica ranks 72nd at $31,107, while the Solomon Islands ranks 183rd at $2,675.

Economic indicators

Costa Rica Solomon Islands
Gross domestic product
$95.4B
2024
$1.58B
2024
GDP rank
73/197
2024
182/197
2024
GDP growth
4.32%
2023-2024
3%
2023-2024
GDP per capita
$18,587
2024
$1,934
2024
GDP per capita rank
62/197
2024
157/197
2024
GDP per capita, PPP
$31,107
2024
$2,675
2024
GDP per capita PPP rank
72/197
2024
183/197
2024
Government debt
$57B
2024
$350M
2024
Debt-to-GDP ratio
59.8%
2024
22.1%
2024
Government debt per person
$11,106
2024
$427
2024
Government debt per person rank
50/185
2024
169/185
2024
Average annual personal income after taxes
$12,150
2026
$1,776
2026
Market capitalization of domestic companies
$2.23B
2022
n/a
Income share by richest 10%
34.2%
2024
29.2%
2012
Income share by poorest 10%
1.7%
2024
2.8%
2012
Government expenditure, % of GDP
18.9%
2024
35.8%
2024
Consumer prices inflation
-0.41%
2023-2024
4.32%
2023-2024
Central bank interest rate
3.5%
2025
n/a
Unemployment rate
6.94%
2024
0.69%
2013
Population
5181862
863951

Spending and national debt comparison by year

Costa Rica
Spending

Debt
Solomon Islands
Spending

Debt
1x
Year % of GDP
Costa Rica Solomon Islands
Government spending Government debt Government spending Government debt
2024 18.9% 59.8% 35.8% 22.1%
2023 18.5% 61.1% 40.1% 20.3%
2022 19.2% 63% 40.8% 15.5%
2021 20.8% 67.6% 37.8% 15.9%
2020 22.3% 66.9% 40.4% 12.8%
2019 21.7% 56.4% 35.6% 7.82%
2018 18.9% 51.8% 34.8% 7.95%
2017 19.2% 47.1% 40.4% 8.77%
2016 18.8% 44.1% 39.6% 7.54%
2015 18.8% 39.8% 41.5% 7.88%
2014 18.4% 37.4% 39.8% 10.1%
2013 18.5% 35.1% 41.8% 11.6%
2012 17.3% 33.7% 29.4% 13.3%
2011 17.2% 29.5% 27% 18.3%
2010 18% 28.1% 23.9% 22.9%
2009 16.7% 26% 24.8% 18.9%
2008 15.2% 24% 27% 28.9%
2007 14.6% 27% 23.7% 33%
2006 15.2% 33% 19.9% 42.3%
2005 15.9% 37.3% 17% 44.7%
2004 17% 41% 14.7% 58.2%
2003 17.6% 40.6% 14.9% 61.3%
2002 18.6% 41.4% 16.7% 65.7%
2001 17.3% 39.6% 18.1% 52.8%
2000 16.9% 38.9% 18.7% 44.3%
1999 16.7% 39% 18.7% 42%
1998 16% 40.7% 15.5% 39.5%
1997 16.3% 30.6% 19.3% 25.9%
1996 17.3% 33.7% 24.2% -
1995 16.4% 29.1% 24.7% -
1994 17.4% 27% 30.2% -
1993 13.8% 24.4% 33.2% -
1992 13.7% 23.3% 35.1% -
1991 14% 28.4% 39.4% -
1990 18.9% 18.5% 30% -
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/solomon-islands | CC BY

In 2024, Costa Rica's government spending was $18B, accounting for 18.9% of its GDP, while the Solomon Islands spent $567M, or 35.8% of GDP.

Debt-to-GDP ratio is 59.8% in Costa Rica and 22.1% in the Solomon Islands, ranking 79/185 and 173/185, respectively.

Government deficit by year

Deficit/surplus
Costa Rica

Solomon Islands
1x
Year Deficit/surplus, % of GDP
Costa Rica Solomon Islands
2024 -3.78% -3.08%
2023 -3.25% -3.81%
2022 -2.81% -2.51%
2021 -5.09% -1.86%
2020 -8.38% -2.44%
2019 -6.68% -1.52%
2018 -5.66% 1.49%
2017 -5.88% -2.27%
2016 -5.09% -3.56%
2015 -5.52% 0.81%
2014 -5.45% 2.13%
2013 -5.25% 3.57%
2012 -4.22% 4.63%
2011 -3.91% 6.22%
2010 -4.96% 6.02%
2009 -3.25% 2.35%
2008 0.18% 1.94%
2007 0.56% 15.3%
2006 -1.04% 13%
2005 -2.09% 13.4%
2004 -3.42% 17%
2003 -3.43% 10.6%
2002 -4.99% -4.35%
2001 -3.47% -2.4%
2000 -3.68% -2.93%
1999 -2.88% -0.32%
1998 -2.96% 5.04%
1997 -3.39% 2.14%
1996 -4.32% 3.73%
1995 -3.68% 3.19%
1994 -5.46% 4.33%
1993 -1.52% 2.45%
1992 -1.51% 4.13%
1991 -2.41% 0.14%
1990 -4.4% 0.58%
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/solomon-islands | 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 the Solomon Islands' deficit of $48.8M, or 3.08% of GDP.

Over the past 35 years, Costa Rica recorded a fiscal deficit in 33 of those years, while the Solomon Islands ran a deficit in 12 years. On average, Costa Rica posted an annual deficit equal to 3.8% of GDP, compared to surplus of 2.66% of GDP for the Solomon Islands.

Inflation comparison by year

Inflation
Costa Rica

Solomon Islands
1x
Year Consumer prices inflation
Costa Rica Solomon Islands
2024 -0.41% 4.32%
2023 0.53% 5.89%
2022 8.27% 5.52%
2021 1.73% -0.12%
2020 0.72% 2.96%
2019 2.1% 1.63%
2018 2.22% 3.46%
2017 1.63% 0.49%
2016 -0.02% 0.51%
2015 0.8% -0.57%
2014 4.52% 5.17%
2013 5.23% 5.39%
2012 4.5% 5.91%
2011 4.88% 7.34%
2010 5.66% 1.05%
2009 7.84% 7.09%
2008 13.4% 17.3%
2007 9.36% 7.67%
2006 11.5% 11.2%
2005 13.8% 7.33%
2004 12.3% 6.99%
2003 9.45% 8.27%
2002 9.17% 10.9%
2001 11.3% 6.93%
2000 11% 7.89%
1999 10% 8.02%
1998 11.7% 12.4%
1997 13.2% 8.08%

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

GeoRank.org/economy/costa-rica/solomon-islands | CC BY

Over the past 28 years, Costa Rica has recorded an average annual inflation rate of 6.66%, compared with 6.04% in the Solomon Islands. In 2024, inflation was -0.41% in Costa Rica and 4.32% in the Solomon Islands.

Top exports between countries

Costa Rica
Export category Export value
Machinery & equipment $7K
Solomon Islands
Export category Export value

Balance of trade

Costa Rica Solomon Islands
Current account balance
-$1.25B
2024
-$66.2M
2024
Current account balance ranking
129/190
2024
87/190
2024
Current account balance, % of GDP
-1.31%
2024
-4.18%
2024
Goods imports
$23.1B
2024
$609M
2024
Goods exports
$20.6B
2024
$510M
2024
Service imports
$7.58B
2024
$248M
2024
Service exports
$16.3B
2024
$133M
2024
Imports of goods and services, % of GDP
32.8%
2024
70.8%
2024
Exports of goods and services, % of GDP
38.5%
2024
40.6%
2024

Economic freedom indices

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

Costa Rica Solomon Islands
Economic freedom 69.1 53.7
Economic freedom ranking 43/197 137/197
Property rights 66 55.8
Government integrity 64.1 42.7
Judicial effectiveness 76.9 59.1
Tax burden 78.6 71.3
Government spending 89.3 54.6
Fiscal health 75.6 83.3
Business freedom 79.9 52.3
Labor freedom 55.9 60.4
Monetary freedom 78.2 76.5
Trade freedom 75 43.6
Investment freedom 50 15
Financial freedom 40 30

Economic freedom comparison by year

Costa Rica
Solomon Islands
1x
Year Economic freedom index
Costa Rica Solomon Islands
2026 69.1 53.7
2025 68.6 56.3
2024 67.7 55
2023 66.5 56.9
2022 65.4 56.5
2021 64.2 56.5
2020 65.8 52.9
2019 65.3 54.6
2018 65.6 57.5
2017 65 55
2016 67.4 47
2015 67.2 47
2014 66.9 46.2
2013 67 45
2012 68 46.2
2011 67.3 45.9
2010 65.9 42.9
2009 66.4 46
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/solomon-islands | CC BY

The Economic Freedom Index for Costa Rica is 69.1, ranking 43/197, compared to 53.7 for the Solomon Islands, ranking 137/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Costa Rica Solomon Islands
Services, % of GDP
68.8%
2024
46.9%
2024
Industry, % of GDP
19.7%
2024
23.4%
2024
Agriculture, forestry, and fishing, % of GDP
3.56%
2024
29.7%
2024
GNI, Atlas method
$80.2B
2024
$1.57B
2024
GNI per capita, PPP
$28,840
2024
$2,680
2024
Total reserves including gold
$14.2B
2024
$688M
2023
Total reserves ranking
70/177
2024
149/177
2023
Net foreign direct investment
-$4.96B
2024
$19.9M
2024
Net inflows of foreign direct investment
$5.3B
2024
$33M
2024
Net outflows of foreign direct investment
$337M
2024
$52.9M
2024
Servicing debt to the IMF, % of GNI
6.31%
2023
1.64%
2024
Poverty at national poverty lines
20.3%
2024
12.7%
2012
Gross capital formation, % of GDP
15.7%
2024
19.5%
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/solomon-islands | 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. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. TradeMap (2023, retrieved 2026-02-08)

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.