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Economy of Croatia vs Finland compared: GDP & Debt

Updated on by Georank team

Croatia has a GDP of $93B compared to $299B for Finland, ranking 75/197 and 47/197 by economy size, respectively.

Croatia has $53.5B in government debt (57.6% of GDP), compared to $245B (82.1% of GDP) in Finland.

Croatia vs Finland GDP by year

Croatia
Finland
1x
Year GDP, current $
Croatia Finland
2024 $92,983,810,329 $298,696,961,298
2023 $85,624,153,964 $295,021,982,463
2022 $71,196,498,671 $280,253,099,309
2021 $69,002,365,163 $294,223,210,496
2020 $57,959,843,541 $270,000,311,606
2019 $61,466,721,186 $267,014,821,129
2018 $61,667,925,219 $273,869,255,596
2017 $56,182,782,586 $253,846,138,440
2016 $52,650,714,172 $238,777,818,793
2015 $50,998,893,385 $233,210,733,506
2014 $59,606,934,501 $273,478,528,955
2013 $59,846,265,182 $270,268,036,626
2012 $57,548,115,904 $257,443,384,493
2011 $62,889,007,657 $275,126,915,516
2010 $58,975,205,417 $249,429,613,683
2009 $62,315,996,675 $253,480,783,439
2008 $68,472,854,617 $285,698,662,071
2007 $59,290,621,398 $256,360,251,538
2006 $49,583,544,860 $217,044,068,234
2005 $45,013,119,282 $204,859,368,791
2004 $41,836,292,157 $197,458,297,640
2003 $35,245,317,002 $171,612,867,736
2002 $26,757,722,429 $140,360,963,812
2001 $23,066,883,850 $129,519,672,869
2000 $22,134,411,297 $125,967,821,111
1999 $23,777,026,779 $135,234,241,918
1998 $25,890,228,430 $133,990,876,725
1997 $24,175,764,812 $126,862,902,302
1996 $24,150,978,347 $131,991,975,149
1995 $22,772,394,547 $134,060,457,516
1994 $15,062,911,617 $103,182,697,780
1993 $11,259,647,874 $89,112,105,756
1992 $10,621,169,291 $112,537,828,511
1991 $18,760,386,775 $127,794,441,994
1990 $25,650,213,280 $141,446,120,355
1989 - $118,991,270,611
1988 - $109,039,090,263
1987 - $91,564,993,913
1986 - $73,511,611,541
1985 - $55,856,676,899
1984 - $52,870,993,273
1983 - $50,956,447,481
1982 - $52,784,013,815
1981 - $52,440,066,134
1980 - $53,649,984,061
1979 - $44,469,218,440
1978 - $36,259,392,058
1977 - $33,502,784,418
1976 - $31,852,352,670
1975 - $29,475,251,333
1974 - $24,851,036,710
1973 - $19,474,098,335
1972 - $14,744,499,570
1971 - $12,528,522,307
1970 - $11,358,529,162
1969 - $10,177,524,839
1968 - $8,916,565,041
1967 - $9,468,272,357
1966 - $9,306,142,172
1965 - $8,680,393,839
1964 - $7,848,987,793
1963 - $6,958,916,548
1962 - $6,407,796,043
1961 - $5,984,433,774
1960 - $5,279,481,824

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

GeoRank.org/economy/croatia/finland | CC BY

GDP per capita in Croatia vs Finland by year

Croatia
GDP per capita

GDP per capita, PPP
Finland
GDP per capita

GDP per capita, PPP
1x
Year Current $
Croatia Finland
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $24,050 $49,551 $53,150 $65,378
2023 $22,184 $47,760 $52,834 $63,415
2022 $18,466 $42,125 $50,441 $62,133
2021 $17,789 $36,930 $53,099 $56,790
2020 $14,808 $31,594 $48,829 $53,297
2019 $15,564 $33,064 $48,358 $52,276
2018 $15,460 $29,789 $49,654 $49,249
2017 $13,902 $27,888 $46,085 $47,235
2016 $12,820 $25,803 $43,451 $44,562
2015 $12,284 $23,750 $42,560 $42,258
2014 $14,187 $22,706 $50,074 $41,547
2013 $14,135 $22,430 $49,691 $41,326
2012 $13,508 $21,619 $47,552 $40,739
2011 $14,692 $21,191 $51,060 $40,846
2010 $13,730 $20,139 $46,506 $38,946
2009 $14,475 $20,358 $47,478 $37,988
2008 $15,888 $21,018 $53,769 $40,081
2007 $13,756 $19,568 $48,473 $37,843
2006 $11,501 $17,629 $41,214 $34,440
2005 $10,444 $15,451 $39,050 $32,048
2004 $9,719 $14,686 $37,768 $31,195
2003 $8,190 $13,692 $32,920 $29,043
2002 $6,220 $12,775 $26,989 $28,596
2001 $5,365 $11,653 $24,965 $27,798
2000 $4,954 $10,675 $24,336 $26,783
1999 $5,269 $9,943 $26,180 $24,762
1998 $5,713 $9,890 $26,000 $23,570
1997 $5,331 $9,536 $24,682 $21,787
1996 $5,300 $8,806 $25,757 $20,067
1995 $4,929 $8,052 $26,246 $19,568
1994 $3,238 $7,337 $20,278 $18,458
1993 $2,448 $6,861 $17,589 $17,458
1992 $2,321 $7,326 $22,320 $17,271
1991 $4,001 $7,918 $25,489 $17,563
1990 $5,369 $9,526 $28,366 $18,149
1989 - - $23,969 -
1988 - - $22,044 -
1987 - - $18,565 -
1986 - - $14,947 -
1985 - - $11,394 -
1984 - - $10,830 -
1983 - - $10,494 -
1982 - - $10,935 -
1981 - - $10,925 -
1980 - - $11,225 -
1979 - - $9,333 -
1978 - - $7,629 -
1977 - - $7,070 -
1976 - - $6,740 -
1975 - - $6,256 -
1974 - - $5,298 -
1973 - - $4,174 -
1972 - - $3,178 -
1971 - - $2,716 -
1970 - - $2,466 -
1969 - - $2,201 -
1968 - - $1,927 -
1967 - - $2,056 -
1966 - - $2,032 -
1965 - - $1,902 -
1964 - - $1,726 -
1963 - - $1,538 -
1962 - - $1,427 -
1961 - - $1,341 -
1960 - - $1,192 -

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

GeoRank.org/economy/croatia/finland | CC BY

Croatia's GDP per capita is $24,050, ranking 50/197, compared to $53,150 in Finland, ranking 23/197. Adjusted for purchasing power (GDP per capita PPP), Croatia ranks 46th at $49,551, while Finland ranks 27th at $65,378.

Economic indicators

Croatia Finland
Gross domestic product
$93B
2024
$299B
2024
GDP rank
75/197
2024
47/197
2024
GDP growth
3.83%
2023-2024
0.42%
2023-2024
GDP per capita
$24,050
2024
$53,150
2024
GDP per capita rank
50/197
2024
23/197
2024
GDP per capita, PPP
$49,551
2024
$65,378
2024
GDP per capita PPP rank
46/197
2024
27/197
2024
Government debt
$53.5B
2024
$245B
2024
Debt-to-GDP ratio
57.6%
2024
82.1%
2024
Government debt per person
$13,844
2024
$43,662
2024
Government debt per person rank
42/185
2024
12/185
2024
Average annual personal income after taxes
$20,856
2026
$36,394
2026
Market capitalization of domestic companies
$27.8B
2024
$20.3B
2004
Number of billionaires
1
2025
7
2025
Income share by richest 10%
23.3%
2023
22.5%
2023
Income share by poorest 10%
2.9%
2023
3.7%
2023
Government expenditure, % of GDP
48%
2024
57.7%
2024
Consumer prices inflation
2.97%
2023-2024
1.57%
2023-2024
Unemployment rate
5.03%
2024
8.34%
2024
Population
3812193
5631965

Spending and national debt comparison by year

Croatia
Spending

Debt
Finland
Spending

Debt
1x
Year % of GDP
Croatia Finland
Government spending Government debt Government spending Government debt
2024 48% 57.6% 57.7% 82.1%
2023 46.8% 61.8% 55.9% 77.5%
2022 45% 68.5% 52.6% 74%
2021 48.1% 78.2% 55.2% 73.2%
2020 53.7% 86.5% 56.5% 75.3%
2019 44.3% 70.9% 52.6% 65.3%
2018 44.9% 72.8% 52.7% 65.3%
2017 44.1% 76.2% 52.8% 66.6%
2016 45.9% 79.3% 55.1% 68.6%
2015 47.5% 82.8% 55.7% 68.8%
2014 48.7% 83.2% 57.6% 64.8%
2013 47.9% 79.5% 57.1% 60.8%
2012 47.3% 68.9% 55.7% 57.9%
2011 48.6% 63.1% 53.8% 52%
2010 48.1% 56.8% 54% 50.1%
2009 49.2% 47.9% 54.1% 41.5%
2008 46.3% 38.9% 47.9% 32.6%
2007 46.3% 37.1% 46.7% 33.9%
2006 44.6% 38.4% 48.3% 38%
2005 46.5% 40.9% 49.2% 39.9%
2004 49% 40% 48.2% 42.6%
2003 49.6% 37.8% 48.3% 42.7%
2002 49.2% 36.5% 47.5% 40.1%
2001 50.6% 36.6% 46.2% 40.9%
2000 54.6% 35.4% 46.9% 42.4%
1999 58.9% 30% 49.9% 44%
1998 56.8% 23.3% 51.3% 46.8%
1997 51.7% 22.5% 54.9% 52.2%
1996 52.1% - 58.5% 55.4%
1995 50.3% - 60% 55.2%
1994 45.4% - 62.2% 56.2%
1993 36% - 63.7% 54.2%
1992 37.1% - 60.8% 39.3%
1991 - - 55.8% 21.9%
1990 - - 47.1% 13.9%
1989 - - 44.4% 14.3%
1988 - - 46.4% 16.5%
1987 - - 47.8% 17.6%
1986 - - 46.9% 16.4%
1985 - - 46.3% 15.8%
1984 - - 44.4% 15.2%
1983 - - 44.4% 15.4%
1982 - - 42.7% 13.9%
1981 - - 41% 11.5%
1980 - - 40.1% 10.9%
1979 - - 40.3% 11%
1978 - - 41.3% 10.7%
1977 - - 41.7% 8.22%
1976 - - 39.8% 7.09%
1975 - - 38.6% 6.76%
1974 - - 22.9% 2.97%
1973 - - 21.8% 4.42%
1972 - - 20.4% 6.46%
1971 - - 22.8% 7.94%
1970 - - 21.9% 9.19%
1969 - - 22.2% 10.8%
1968 - - 25.5% 13.9%
1967 - - 23.5% 14.2%
1966 - - 23.3% 13.7%
1965 - - 23.2% 13%
1964 - - 22.8% 12.5%
1963 - - 21.6% 12.2%
1962 - - 23.9% 10.3%
1961 - - 22.7% 9.12%
1960 - - 22.5% 9.96%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1997, retrieved 2026-02-20).

GeoRank.org/economy/croatia/finland | CC BY

In 2024, Croatia's government spending was $44.6B, accounting for 48% of its GDP, while Finland spent $172B, or 57.7% of GDP.

Debt-to-GDP ratio is 57.6% in Croatia and 82.1% in Finland, ranking 86/185 and 42/185, respectively.

Government deficit by year

Deficit/surplus
Croatia

Finland
1x
Year Deficit/surplus, % of GDP
Croatia Finland
2024 -1.95% -4.41%
2023 -0.79% -2.98%
2022 0.12% -0.18%
2021 -2.58% -2.69%
2020 -7.23% -5.53%
2019 2.31% -0.93%
2018 0.23% -0.87%
2017 0.8% -0.63%
2016 -1.04% -1.7%
2015 -3.53% -2.43%
2014 -5.19% -2.99%
2013 -5.52% -2.52%
2012 -5.46% -2.15%
2011 -7.53% -1.01%
2010 -6.46% -2.57%
2009 -7.15% -2.48%
2008 -2.34% 4.18%
2007 -2.28% 5.12%
2006 -2.01% 3.93%
2005 -3.24% 2.59%
2004 -6.09% 2.16%
2003 -5.03% 2.34%
2002 -4.9% 3.97%
2001 -4.79% 4.89%
2000 -9.2% 6.73%
1999 -11.1% 1.6%
1998 -6.36% 1.54%
1997 -4.93% -1.33%
1996 -4.41% -3.37%
1995 -4.23% -5.98%
1994 -0.82% -6.41%
1993 -2.67% -8.09%
1992 -5.69% -4.88%
1991 - 0.3%
1990 - 6.63%
1989 - 6.73%
1988 - 5.09%
1987 - 1.63%
1986 - 3.83%
1985 - 3.33%
1984 - 3.23%
1983 - 1.52%
1982 - 3.06%
1981 - 5.11%
1980 - 3.7%
1979 - 3.41%
1978 - 3.83%
1977 - 6.27%
1976 - 7.65%
1975 - 4.96%
1974 - -0.03%
1973 - 1.48%
1972 - -0.18%
1971 - 0.15%
1970 - 1.06%
1969 - 0.94%
1968 - -1.69%
1967 - -0.26%
1966 - -1.08%
1965 - -1.67%
1964 - -1.35%
1963 - -2.5%
1962 - -2.37%
1961 - -3.03%
1960 - -0.52%
1959 - -0.12%
1958 - -1.73%
1957 - 0.08%
1956 - -1.14%
1955 - -1%
1954 - -0.17%
1953 - 0.02%
1952 - -1.24%
1951 - 1.1%
1950 - -0.26%
1949 - -2.77%
1948 - 1.88%
1947 - -5.99%
1946 - -15.3%
1945 - -6.35%
1944 - -21.5%
1943 - -14.2%
1942 - -16.4%
1941 - -35.8%
1940 - -36.9%
1939 - -9.76%
1938 - -1.48%
1937 - -4.44%
1936 - -3.75%
1935 - -3.81%
1934 - -2.81%
1933 - -1.63%
1932 - -2.61%
1931 - -2.32%
1930 - -1.94%
1929 - -0.78%
1928 - -2.07%
1927 - -0.32%
1926 - -2.9%
1925 - -2.92%
1924 - 0.04%
1923 - -2.3%
1922 - 0.62%
1921 - -2.59%
1920 - -2.6%
1919 - -7.49%
1918 - -11.4%
1917 - -1.27%
1916 - 1.48%
1915 - -0.29%
1914 - -1.15%
1913 - -0.25%
1912 - 0.33%
1911 - -0.14%
1910 - -0.3%
1909 - -2.64%
1908 - -1.92%
1907 - 0.24%
1906 - 0.86%
1905 - -1.28%
1904 - -1.63%
1903 - -0.3%
1902 - -1.74%
1901 - -2.13%
1900 - -0.52%
1899 - -1%
1898 - -4.55%
1897 - -0.37%
1896 - -0.56%
1895 - -1.21%
1894 - -0.62%
1893 - 0%
1892 - 0.82%
1891 - 0.16%
1890 - 0.17%
1889 - 0.18%
1888 - -0.59%
1887 - -1.46%
1886 - 0%
1885 - -1.2%
1884 - -0.2%
1883 - 0%
1882 - 0.2%

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1882–1989, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/croatia/finland | CC BY

In 2024, Croatia's government deficit, the difference between spending and revenue, was $1.82B, equivalent to 1.95% of GDP. This compares to Finland's deficit of $13.2B, or 4.41% of GDP.

Over the past 33 years, Croatia recorded a fiscal deficit in 29 of those years, while Finland ran a deficit in 22 years. On average, Croatia posted an annual deficit equal to 3.97% of GDP, compared to deficit of 0.82% of GDP for Finland.

Inflation comparison by year

Inflation
Croatia

Finland
1x
Year Consumer prices inflation
Croatia Finland
2024 2.97% 1.57%
2023 7.94% 6.25%
2022 10.8% 7.12%
2021 2.55% 2.19%
2020 0.15% 0.29%
2019 0.77% 1.02%
2018 1.5% 1.08%
2017 1.13% 0.75%
2016 -1.12% 0.36%
2015 -0.46% -0.21%
2014 -0.22% 1.04%
2013 2.22% 1.48%
2012 3.41% 2.81%
2011 2.27% 3.42%
2010 1.03% 1.18%
2009 2.38% -0%
2008 6.08% 4.07%
2007 2.9% 2.51%
2006 3.19% 1.57%
2005 3.32% 0.62%
2004 2.06% 0.19%
2003 1.77% 0.88%
2002 1.67% 1.57%
2001 3.78% 2.58%
2000 4.61% 3.04%
1999 4.02% 1.16%
1998 6.4% 1.4%
1997 4.17% 1.19%

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

GeoRank.org/economy/croatia/finland | CC BY

Over the past 28 years, Croatia has recorded an average annual inflation rate of 2.9%, compared with 1.83% in Finland. In 2024, inflation was 2.97% in Croatia and 1.57% in Finland.

Top exports between countries

Croatia
Export category Export value
Transport & tourism services $126M
Machinery & equipment $36.3M
Business & finance services $15.1M
Manufacturing & construction services $9.48M
IT & IP services $8.65M
Raw materials & minerals $4.48M
Textiles & consumer goods $3.94M
Chemicals & pharma $3.46M
Wood & paper products $3.12M
Metals $1.75M
Finland
Export category Export value
Machinery & equipment $28.1M
Manufacturing & construction services $10.1M
IT & IP services $9.61M
Wood & paper products $9.49M
Chemicals & pharma $8.77M
Business & finance services $5.26M
Textiles & consumer goods $3.12M
Metals $2.77M
Transport & tourism services $2.16M
Processed food, beverages & tobacco $1.21M

Balance of trade

Croatia Finland
Current account balance
-$1.05B
2024
-$1.99B
2024
Current account balance ranking
125/190
2024
143/190
2024
Current account balance, % of GDP
-1.13%
2024
-0.67%
2024
Goods imports
$41.5B
2024
$76.6B
2024
Goods exports
$21.9B
2024
$83.1B
2024
Service imports
$8.35B
2024
$47.4B
2024
Service exports
$24.7B
2024
$42B
2024
Imports of goods and services, % of GDP
54.8%
2024
41.6%
2024
Exports of goods and services, % of GDP
50.1%
2024
41.9%
2024

Economic freedom indices

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

Croatia Finland
Economic freedom 67.5 76.6
Economic freedom ranking 56/197 15/197
Property rights 81.1 99.9
Government integrity 52.6 95.4
Judicial effectiveness 71.7 96.4
Tax burden 70 68.4
Government spending 34.9 7.9
Fiscal health 92.2 76.3
Business freedom 79.6 85.3
Labor freedom 58.9 65.4
Monetary freedom 69.9 80.3
Trade freedom 79.4 79.4
Investment freedom 60 85
Financial freedom 60 80

Economic freedom comparison by year

Croatia
Finland
1x
Year Economic freedom index
Croatia Finland
2026 67.5 76.6
2025 68.7 77
2024 67.2 76.3
2023 66.4 77.1
2022 67.6 78.3
2021 63.6 76.1
2020 62.2 75.7
2019 61.4 74.9
2018 61 74.1
2017 59.4 74
2016 59.1 72.6
2015 61.5 73.4
2014 60.4 73.4
2013 61.3 74
2012 60.9 72.3
2011 61.1 74
2010 59.2 73.8
2009 55.1 74.5
2008 54.1 74.6
2007 53.4 74
2006 53.6 72.9
2005 51.9 71
2004 53.1 73.4
2003 53.3 73.7
2002 51.1 73.6
2001 50.7 69.7
2000 53.6 64.3
1999 53.1 63.9
1998 51.7 63.5
1997 46.7 65.2
1996 48 63.7

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

GeoRank.org/economy/croatia/finland | CC BY

The Economic Freedom Index for Croatia is 67.5, ranking 56/197, compared to 76.6 for Finland, ranking 15/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Croatia Finland
Services, % of GDP
60.8%
2024
62.2%
2024
Industry, % of GDP
19.2%
2024
22.8%
2024
Agriculture, forestry, and fishing, % of GDP
2.9%
2024
2.47%
2024
GNI, Atlas method
$86B
2024
$290B
2024
GNI per capita, PPP
$49,740
2024
$65,640
2024
Total reserves including gold
$3.34B
2024
$18B
2024
Total reserves ranking
116/177
2024
65/177
2024
Net foreign direct investment
-$1.88B
2024
$3.28B
2024
Net inflows of foreign direct investment
$4.54B
2024
$8.74B
2024
Net outflows of foreign direct investment
$2.79B
2024
$12B
2024
Poverty at national poverty lines
20.3%
2023
12.2%
2022
Gross capital formation, % of GDP
24.4%
2024
22.3%
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/croatia/finland | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1882–1997, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2020–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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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.

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.