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Economy of Croatia vs Kuwait compared: GDP & Debt

Updated on by Georank team

Croatia has a GDP of $93B compared to $160B for Kuwait, ranking 75/197 and 59/197 by economy size, respectively.

Croatia has $53.5B in government debt (57.6% of GDP), compared to $4.68B (2.92% of GDP) in Kuwait.

Croatia vs Kuwait GDP by year

Croatia
Kuwait
1x
Year GDP, current $
Croatia Kuwait
2024 $92,983,810,329 $160,227,273,053
2023 $85,624,153,964 $165,384,407,116
2022 $71,196,498,671 $183,502,046,694
2021 $69,002,365,163 $148,350,671,489
2020 $57,959,843,541 $111,045,470,606
2019 $61,466,721,186 $140,856,394,861
2018 $61,667,925,219 $138,646,316,351
2017 $56,182,782,586 $120,687,539,806
2016 $52,650,714,172 $109,406,674,125
2015 $50,998,893,385 $114,585,555,689
2014 $59,606,934,501 $162,650,450,685
2013 $59,846,265,182 $174,168,116,535
2012 $57,548,115,904 $174,047,662,680
2011 $62,889,007,657 $154,039,231,246
2010 $58,975,205,417 $115,416,245,242
2009 $62,315,996,675 $105,968,691,905
2008 $68,472,854,617 $147,379,737,230
2007 $59,290,621,398 $114,634,043,362
2006 $49,583,544,860 $101,557,330,723
2005 $45,013,119,282 $80,798,630,137
2004 $41,836,292,157 $59,439,090,601
2003 $35,245,317,002 $47,874,582,232
2002 $26,757,722,429 $38,135,788,414
2001 $23,066,883,850 $34,889,559,870
2000 $22,134,411,297 $37,718,743,480
1999 $23,777,026,779 $30,122,365,849
1998 $25,890,228,430 $25,943,705,784
1997 $24,175,764,812 $30,350,190,704
1996 $24,150,978,347 $31,492,373,309
1995 $22,772,394,547 $27,186,980,647
1994 $15,062,911,617 $24,848,483,838
1993 $11,259,647,874 $23,941,391,391
1992 $10,621,169,291 $19,858,555,215
1991 $18,760,386,775 $11,009,993,703
1990 $25,650,213,280 $18,427,777,778
1989 - $24,313,855,653
1988 - $20,690,322,153
1987 - $22,368,704,134
1986 - $17,903,989,745
1985 - $21,445,970,614
1984 - $21,700,082,753
1983 - $20,871,081,080
1982 - $21,577,153,356
1981 - $25,058,020,338
1980 - $28,638,868,356
1979 - $24,749,063,922
1978 - $15,503,557,496
1977 - $14,137,406,741
1976 - $13,132,252,802
1975 - $12,022,811,621
1974 - $13,006,948,296
1973 - $5,408,804,607
1972 - $4,450,537,925
1971 - $3,880,392,195
1970 - $2,873,638,851
1969 - $2,769,198,892
1968 - $2,662,798,935
1967 - $2,441,599,023
1966 - $2,391,199,044
1965 - $2,097,199,161
1964 - $2,071,668,533
1963 - $1,900,895,857
1962 - $1,828,107,503

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

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

GDP per capita in Croatia vs Kuwait by year

Croatia
GDP per capita

GDP per capita, PPP
Kuwait
GDP per capita

GDP per capita, PPP
1x
Year Current $
Croatia Kuwait
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $24,050 $49,551 $32,718 $52,444
2023 $22,184 $47,760 $34,076 $53,025
2022 $18,466 $42,125 $39,982 $55,043
2021 $17,789 $36,930 $34,019 $50,652
2020 $14,808 $31,594 $25,236 $41,462
2019 $15,564 $33,064 $31,708 $50,703
2018 $15,460 $29,789 $32,068 $51,371
2017 $13,902 $27,888 $29,048 $46,566
2016 $12,820 $25,803 $27,324 $41,862
2015 $12,284 $23,750 $29,882 $45,267
2014 $14,187 $22,706 $44,369 $68,337
2013 $14,135 $22,430 $49,651 $76,813
2012 $13,508 $21,619 $52,155 $82,090
2011 $14,692 $21,191 $49,170 $79,037
2010 $13,730 $20,139 $39,212 $75,184
2009 $14,475 $20,358 $37,907 $80,110
2008 $15,888 $21,018 $55,585 $90,337
2007 $13,756 $19,568 $45,709 $91,435
2006 $11,501 $17,629 $42,947 $89,075
2005 $10,444 $15,451 $36,123 $84,968
2004 $9,719 $14,686 $27,552 $77,227
2003 $8,190 $13,692 $22,691 $69,752
2002 $6,220 $12,775 $18,513 $59,713
2001 $5,365 $11,653 $17,374 $58,553
2000 $4,954 $10,675 $19,296 $58,703
1999 $5,269 $9,943 $15,854 $56,406
1998 $5,713 $9,890 $14,067 $58,344
1997 $5,331 $9,536 $16,977 $57,420
1996 $5,300 $8,806 $18,201 $56,913
1995 $4,929 $8,052 $16,168 $57,163
1994 $3,238 $7,337 $14,930 $53,946
1993 $2,448 $6,861 $14,318 $48,482
1992 $2,321 $7,326 $12,146 $36,149
1991 $4,001 $7,918 $8,147 $23,390
1990 $5,369 $9,526 $10,938 $30,763
1989 - - $10,965 -
1988 - - $9,692 -
1987 - - $10,896 -
1986 - - $9,077 -
1985 - - $11,322 -
1984 - - $11,919 -
1983 - - $11,965 -
1982 - - $12,979 -
1981 - - $15,825 -
1980 - - $19,032 -
1979 - - $17,386 -
1978 - - $11,567 -
1977 - - $11,238 -
1976 - - $11,141 -
1975 - - $10,882 -
1974 - - $12,527 -
1973 - - $5,532 -
1972 - - $4,836 -
1971 - - $4,486 -
1970 - - $3,552 -
1969 - - $3,695 -
1968 - - $3,872 -
1967 - - $3,887 -
1966 - - $4,176 -
1965 - - $4,024 -
1964 - - $4,379 -
1963 - - $4,445 -
1962 - - $4,748 -

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

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

Croatia's GDP per capita is $24,050, ranking 50/197, compared to $32,718 in Kuwait, ranking 37/197. Adjusted for purchasing power (GDP per capita PPP), Croatia ranks 46th at $49,551, while Kuwait ranks 40th at $52,444.

Economic indicators

Croatia Kuwait
Gross domestic product
$93B
2024
$160B
2024
GDP rank
75/197
2024
59/197
2024
GDP growth
3.83%
2023-2024
-2.56%
2023-2024
GDP per capita
$24,050
2024
$32,718
2024
GDP per capita rank
50/197
2024
37/197
2024
GDP per capita, PPP
$49,551
2024
$52,444
2024
GDP per capita PPP rank
46/197
2024
40/197
2024
Government debt
$53.5B
2024
$4.68B
2024
Debt-to-GDP ratio
57.6%
2024
2.92%
2024
Government debt per person
$13,844
2024
$956
2024
Government debt per person rank
42/185
2024
143/185
2024
Average annual personal income after taxes
$20,856
2026
$23,828
2026
Market capitalization of domestic companies
$27.8B
2024
$141B
2024
Number of billionaires
1
2025
n/a
Income share by richest 10%
23.3%
2023
n/a
Income share by poorest 10%
2.9%
2023
n/a
Government expenditure, % of GDP
48%
2024
50.4%
2024
Consumer prices inflation
2.97%
2023-2024
2.9%
2023-2024
Central bank interest rate n/a
3.5%
2025
Unemployment rate
5.03%
2024
2.16%
2016
Population
3812193
5100145

Spending and national debt comparison by year

Croatia
Spending

Debt
Kuwait
Spending

Debt
1x
Year % of GDP
Croatia Kuwait
Government spending Government debt Government spending Government debt
2024 48% 57.6% 50.4% 2.92%
2023 46.8% 61.8% 48.3% 3.13%
2022 45% 68.5% 39.6% 2.95%
2021 48.1% 78.2% 48.3% 7.2%
2020 53.7% 86.5% 62.9% 10.2%
2019 44.3% 70.9% 50.3% 10.5%
2018 44.9% 72.8% 51.1% 14.3%
2017 44.1% 76.2% 51.9% 19.6%
2016 45.9% 79.3% 54.1% 9.88%
2015 47.5% 82.8% 55.4% 4.6%
2014 48.7% 83.2% 45% 3.43%
2013 47.9% 79.5% 38.4% 3.09%
2012 47.3% 68.9% 38.2% 3.6%
2011 48.6% 63.1% 39.7% 4.64%
2010 48.1% 56.8% 45.5% 6.16%
2009 49.2% 47.9% 42.9% 6.65%
2008 46.3% 38.9% 40.9% 5.38%
2007 46.3% 37.1% 30.4% 7.05%
2006 44.6% 38.4% 32.3% 7.79%
2005 46.5% 40.9% 28.8% 10.2%
2004 49% 40% 35.3% 13.9%
2003 49.6% 37.8% 38.2% 17.2%
2002 49.2% 36.5% 42.8% 21.3%
2001 50.6% 36.6% 41.4% 23%
2000 54.6% 35.4% 29.9% 21.4%
1999 58.9% 30% 44.5% 25.5%
1998 56.8% 23.3% 51.7% 25.6%
1997 51.7% 22.5% 43.8% 24.3%
1996 52.1% - 42.8% 26.5%
1995 50.3% - 52% 34.9%
1994 45.4% - 57.8% 37.7%
1993 36% - 58.2% 28.8%
1992 37.1% - 77.6% 27.9%
1991 - - 208.9% 45.3%
1990 - - 122.9% -

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

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

In 2024, Croatia's government spending was $44.6B, accounting for 48% of its GDP, while Kuwait spent $80.8B, or 50.4% of GDP.

Debt-to-GDP ratio is 57.6% in Croatia and 2.92% in Kuwait, ranking 86/185 and 184/185, respectively.

Government deficit by year

Deficit/surplus
Croatia

Kuwait
1x
Year Deficit/surplus, % of GDP
Croatia Kuwait
2024 -1.95% 23.8%
2023 -0.79% 28.2%
2022 0.12% 30%
2021 -2.58% 9.98%
2020 -7.23% 0.14%
2019 2.31% 13%
2018 0.23% 17.5%
2017 0.8% 15.3%
2016 -1.04% 13.1%
2015 -3.53% 16.6%
2014 -5.19% 30%
2013 -5.52% 40.6%
2012 -5.46% 40.7%
2011 -7.53% 38.8%
2010 -6.46% 31.9%
2009 -7.15% 31.3%
2008 -2.34% 21.3%
2007 -2.28% 37.1%
2006 -2.01% 28%
2005 -3.24% 38.9%
2004 -6.09% 32.5%
2003 -5.03% 27.2%
2002 -4.9% 31%
2001 -4.79% 45.2%
2000 -9.2% 52.5%
1999 -11.1% 28.2%
1998 -6.36% 19.5%
1997 -4.93% 29.5%
1996 -4.41% 24.3%
1995 -4.23% 11.7%
1994 -0.82% 1.76%
1993 -2.67% -3.12%
1992 -5.69% -28.1%
1991 - -145%
1990 - -50%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/croatia/kuwait | 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 Kuwait's surplus of $38.1B, or 23.8% of GDP.

Over the past 33 years, Croatia recorded a fiscal deficit in 29 of those years, while Kuwait ran a deficit in 2 years. On average, Croatia posted an annual deficit equal to 3.97% of GDP, compared to surplus of 23.6% of GDP for Kuwait.

Inflation comparison by year

Inflation
Croatia

Kuwait
1x
Year Consumer prices inflation
Croatia Kuwait
2024 2.97% 2.9%
2023 7.94% 3.64%
2022 10.8% 3.98%
2021 2.55% 3.42%
2020 0.15% 2.1%
2019 0.77% 1.09%
2018 1.5% 0.54%
2017 1.13% 2.17%
2016 -1.12% 3.2%
2015 -0.46% 3.27%
2014 -0.22% 2.91%
2013 2.22% 2.68%
2012 3.41% 3.26%
2011 2.27% 4.84%
2010 1.03% 4.5%
2009 2.38% 4.61%
2008 6.08% 10.6%
2007 2.9% 5.48%
2006 3.19% 3.06%
2005 3.32% 4.14%
2004 2.06% 1.25%
2003 1.77% 0.96%
2002 1.67% 0.89%
2001 3.78% 1.3%
2000 4.61% 1.81%
1999 4.02% 2.99%
1998 6.4% 0.13%
1997 4.17% 0.68%

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

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

Over the past 28 years, Croatia has recorded an average annual inflation rate of 2.9%, compared with 2.94% in Kuwait. In 2024, inflation was 2.97% in Croatia and 2.9% in Kuwait.

Top exports between countries

Croatia
Export category Export value
Wood & paper products $7.1M
Machinery & equipment $934K
Processed food, beverages & tobacco $229K
Textiles & consumer goods $165K
Chemicals & pharma $112K
Raw agricultural goods $92K
Metals $64K
Precious metals & jewellery $8K
Weapons & explosives $7K
Miscellaneous $2K
Kuwait
Export category Export value
Raw agricultural goods $127K
Chemicals & pharma $76K
Machinery & equipment $69K
Miscellaneous $12K
Metals $1K
Textiles & consumer goods $1K

Balance of trade

Croatia Kuwait
Current account balance
-$1.05B
2024
$46.7B
2024
Current account balance ranking
125/190
2024
15/190
2024
Current account balance, % of GDP
-1.13%
2024
+29.1%
2024
Goods imports
$41.5B
2024
$33.4B
2024
Goods exports
$21.9B
2024
$77.5B
2024
Service imports
$8.35B
2024
$28.1B
2024
Service exports
$24.7B
2024
$12.2B
2024
Imports of goods and services, % of GDP
54.8%
2024
38.3%
2023
Exports of goods and services, % of GDP
50.1%
2024
57.7%
2023

Economic freedom indices

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

Croatia Kuwait
Economic freedom 67.5 59.9
Economic freedom ranking 56/197 100/197
Property rights 81.1 42
Government integrity 52.6 47.9
Judicial effectiveness 71.7 43.4
Tax burden 70 97.7
Government spending 34.9 36.2
Fiscal health 92.2 99.9
Business freedom 79.6 57.4
Labor freedom 58.9 49.2
Monetary freedom 69.9 68.7
Trade freedom 79.4 75.8
Investment freedom 60 50
Financial freedom 60 50

Economic freedom comparison by year

Croatia
Kuwait
1x
Year Economic freedom index
Croatia Kuwait
2026 67.5 59.9
2025 68.7 59.9
2024 67.2 58.5
2023 66.4 56.7
2022 67.6 58.3
2021 63.6 64.1
2020 62.2 63.2
2019 61.4 60.8
2018 61 62.2
2017 59.4 65.1
2016 59.1 62.7
2015 61.5 62.5
2014 60.4 62.3
2013 61.3 63.1
2012 60.9 62.5
2011 61.1 64.9
2010 59.2 67.7
2009 55.1 65.6
2008 54.1 68.1
2007 53.4 66.4
2006 53.6 66.5
2005 51.9 64.6
2004 53.1 63.6
2003 53.3 66.7
2002 51.1 65.4
2001 50.7 68.2
2000 53.6 69.7
1999 53.1 69.5
1998 51.7 66.3
1997 46.7 64.8
1996 48 66.1

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

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

The Economic Freedom Index for Croatia is 67.5, ranking 56/197, compared to 59.9 for Kuwait, ranking 100/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Croatia Kuwait
Services, % of GDP
60.8%
2024
55.9%
2024
Industry, % of GDP
19.2%
2024
57.1%
2024
Agriculture, forestry, and fishing, % of GDP
2.9%
2024
0.49%
2024
GNI, Atlas method
$86B
2024
$200B
2024
GNI per capita, PPP
$49,740
2024
$63,270
2024
Total reserves including gold
$3.34B
2024
$50.7B
2024
Total reserves ranking
116/177
2024
41/177
2024
Net foreign direct investment
-$1.88B
2024
$9.71B
2024
Net inflows of foreign direct investment
$4.54B
2024
$615M
2024
Net outflows of foreign direct investment
$2.79B
2024
$10.3B
2024
Poverty at national poverty lines
20.3%
2023
n/a
Gross capital formation, % of GDP
24.4%
2024
17.7%
2023

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/kuwait | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2020–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. International Monetary Fund (IMF) | Public Finances in Modern History (1997, retrieved 2026-02-20)

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.

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.