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Economy of Croatia vs Malaysia compared: GDP & Debt

Updated on by Georank team

Croatia has a GDP of $93B compared to $422B for Malaysia, ranking 75/197 and 38/197 by economy size, respectively.

Croatia has $53.5B in government debt (57.6% of GDP), compared to $296B (70.1% of GDP) in Malaysia.

Croatia vs Malaysia GDP by year

Croatia
Malaysia
1x
Year GDP, current $
Croatia Malaysia
2024 $92,983,810,329 $422,227,005,429
2023 $85,624,153,964 $399,949,418,753
2022 $71,196,498,671 $407,830,525,990
2021 $69,002,365,163 $373,784,553,030
2020 $57,959,843,541 $337,456,163,961
2019 $61,466,721,186 $365,177,721,022
2018 $61,667,925,219 $358,788,845,713
2017 $56,182,782,586 $319,109,094,160
2016 $52,650,714,172 $301,256,033,870
2015 $50,998,893,385 $301,355,266,965
2014 $59,606,934,501 $338,066,095,097
2013 $59,846,265,182 $323,276,235,524
2012 $57,548,115,904 $314,443,047,642
2011 $62,889,007,657 $297,951,668,675
2010 $58,975,205,417 $255,017,638,456
2009 $62,315,996,675 $202,257,453,037
2008 $68,472,854,617 $230,811,614,370
2007 $59,290,621,398 $193,549,569,478
2006 $49,583,544,860 $162,692,258,307
2005 $45,013,119,282 $143,534,405,819
2004 $41,836,292,157 $124,749,473,684
2003 $35,245,317,002 $110,202,368,421
2002 $26,757,722,429 $100,845,526,316
2001 $23,066,883,850 $92,783,947,368
2000 $22,134,411,297 $93,789,736,842
1999 $23,777,026,779 $79,148,421,053
1998 $25,890,228,430 $72,167,498,981
1997 $24,175,764,812 $100,005,323,302
1996 $24,150,978,347 $100,855,393,910
1995 $22,772,394,547 $88,705,342,903
1994 $15,062,911,617 $74,478,356,958
1993 $11,259,647,874 $66,894,966,969
1992 $10,621,169,291 $59,167,550,163
1991 $18,760,386,775 $49,143,148,094
1990 $25,650,213,280 $44,024,585,240
1989 - $38,847,965,293
1988 - $35,272,109,220
1987 - $32,181,210,158
1986 - $27,734,111,400
1985 - $31,199,633,353
1984 - $33,942,897,422
1983 - $30,347,442,111
1982 - $26,804,493,635
1981 - $25,004,285,792
1980 - $24,488,224,677
1979 - $21,213,264,962
1978 - $16,358,079,862
1977 - $13,139,488,633
1976 - $11,050,234,599
1975 - $9,298,800,799
1974 - $9,496,204,302
1973 - $7,662,902,678
1972 - $5,043,347,250
1971 - $4,244,395,956
1970 - $3,864,145,667
1969 - $3,664,552,041
1968 - $3,330,371,551
1967 - $3,188,924,677
1966 - $3,143,517,944
1965 - $2,956,337,669
1964 - $2,674,423,922
1963 - $2,510,110,348
1962 - $2,001,489,602
1961 - $1,901,856,123
1960 - $1,916,229,477

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

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

GDP per capita in Croatia vs Malaysia by year

Croatia
GDP per capita

GDP per capita, PPP
Malaysia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Croatia Malaysia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $24,050 $49,551 $11,874 $38,779
2023 $22,184 $47,760 $11,386 $36,467
2022 $18,466 $42,125 $11,755 $34,420
2021 $17,789 $36,930 $10,903 $29,823
2020 $14,808 $31,594 $9,958 $27,475
2019 $15,564 $33,064 $10,920 $28,934
2018 $15,460 $29,789 $10,902 $27,794
2017 $13,902 $27,888 $9,863 $26,416
2016 $12,820 $25,803 $9,477 $25,286
2015 $12,284 $23,750 $9,649 $24,526
2014 $14,187 $22,706 $11,013 $24,307
2013 $14,135 $22,430 $10,714 $23,161
2012 $13,508 $21,619 $10,601 $22,639
2011 $14,692 $21,191 $10,217 $21,324
2010 $13,730 $20,139 $8,899 $20,193
2009 $14,475 $20,358 $7,191 $18,923
2008 $15,888 $21,018 $8,372 $19,480
2007 $13,756 $19,568 $7,169 $18,617
2006 $11,501 $17,629 $6,158 $17,426
2005 $10,444 $15,451 $5,556 $16,371
2004 $9,719 $14,686 $4,939 $15,416
2003 $8,190 $13,692 $4,465 $14,387
2002 $6,220 $12,775 $4,184 $13,656
2001 $5,365 $11,653 $3,944 $13,072
2000 $4,954 $10,675 $4,084 $13,027
1999 $5,269 $9,943 $3,528 $11,980
1998 $5,713 $9,890 $3,294 $11,398
1997 $5,331 $9,536 $4,679 $12,469
1996 $5,300 $8,806 $4,837 $11,709
1995 $4,929 $8,052 $4,363 $10,720
1994 $3,238 $7,337 $3,758 $9,806
1993 $2,448 $6,861 $3,462 $9,018
1992 $2,321 $7,326 $3,141 $8,224
1991 $4,001 $7,918 $2,679 $7,583
1990 $5,369 $9,526 $2,469 $6,887
1989 - - $2,244 -
1988 - - $2,100 -
1987 - - $1,977 -
1986 - - $1,760 -
1985 - - $2,046 -
1984 - - $2,300 -
1983 - - $2,124 -
1982 - - $1,938 -
1981 - - $1,866 -
1980 - - $1,886 -
1979 - - $1,680 -
1978 - - $1,327 -
1977 - - $1,092 -
1976 - - $940 -
1975 - - $811 -
1974 - - $848 -
1973 - - $701 -
1972 - - $472 -
1971 - - $407 -
1970 - - $380 -
1969 - - $368 -
1968 - - $342 -
1967 - - $335 -
1966 - - $339 -
1965 - - $326 -
1964 - - $303 -
1963 - - $291.8 -
1962 - - $238.8 -
1961 - - $232.9 -
1960 - - $240.8 -

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

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

Croatia's GDP per capita is $24,050, ranking 50/197, compared to $11,874 in Malaysia, ranking 79/197. Adjusted for purchasing power (GDP per capita PPP), Croatia ranks 46th at $49,551, while Malaysia ranks 60th at $38,779.

Economic indicators

Croatia Malaysia
Gross domestic product
$93B
2024
$422B
2024
GDP rank
75/197
2024
38/197
2024
GDP growth
3.83%
2023-2024
5.11%
2023-2024
GDP per capita
$24,050
2024
$11,874
2024
GDP per capita rank
50/197
2024
79/197
2024
GDP per capita, PPP
$49,551
2024
$38,779
2024
GDP per capita PPP rank
46/197
2024
60/197
2024
Government debt
$53.5B
2024
$296B
2024
Debt-to-GDP ratio
57.6%
2024
70.1%
2024
Government debt per person
$13,844
2024
$8,322
2024
Government debt per person rank
42/185
2024
62/185
2024
Average annual personal income after taxes
$20,856
2026
$11,005
2026
Market capitalization of domestic companies
$27.8B
2024
$449B
2024
Number of billionaires
1
2025
19
2025
Income share by richest 10%
23.3%
2023
30.9%
2021
Income share by poorest 10%
2.9%
2023
2.3%
2021
Government expenditure, % of GDP
48%
2024
23.9%
2024
Consumer prices inflation
2.97%
2023-2024
1.83%
2023-2024
Central bank interest rate n/a
2.75%
2025
Unemployment rate
5.03%
2024
3.93%
2022
Population
3812193
36512221

Spending and national debt comparison by year

Croatia
Spending

Debt
Malaysia
Spending

Debt
1x
Year % of GDP
Croatia Malaysia
Government spending Government debt Government spending Government debt
2024 48% 57.6% 23.9% 70.1%
2023 46.8% 61.8% 24.9% 69.7%
2022 45% 68.5% 24.6% 65.5%
2021 48.1% 78.2% 24.5% 69.2%
2020 53.7% 86.5% 25% 67.7%
2019 44.3% 70.9% 23.6% 57.1%
2018 44.9% 72.8% 22.8% 55.6%
2017 44.1% 76.2% 22% 54.4%
2016 45.9% 79.3% 22.9% 55.8%
2015 47.5% 82.8% 24.7% 57%
2014 48.7% 83.2% 26% 55.4%
2013 47.9% 79.5% 27.8% 55.7%
2012 47.3% 68.9% 28.5% 53.8%
2011 48.6% 63.1% 27.1% 51.9%
2010 48.1% 56.8% 26.6% 51.2%
2009 49.2% 47.9% 30.9% 50.4%
2008 46.3% 38.9% 26.9% 39.4%
2007 46.3% 37.1% 25.9% 39.3%
2006 44.6% 38.4% 25.6% 39.7%
2005 46.5% 40.9% 24.5% 40.8%
2004 49% 40% 25.9% 42%
2003 49.6% 37.8% 28.1% 41.4%
2002 49.2% 36.5% 27.1% 39.5%
2001 50.6% 36.6% 28.2% 38.1%
2000 54.6% 35.4% 25.6% 32.5%
1999 58.9% 30% 24.6% 34.4%
1998 56.8% 23.3% 23.1% 33.6%
1997 51.7% 22.5% 21.2% 29.6%
1996 52.1% - 22.4% 32.8%
1995 50.3% - 22.6% 38.2%
1994 45.4% - 23.3% 43.7%
1993 36% - 24.6% 51.1%
1992 37.1% - 28.2% 59.1%
1991 - - 27.4% 67.3%
1990 - - 30.5% 74.1%

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/malaysia | CC BY

In 2024, Croatia's government spending was $44.6B, accounting for 48% of its GDP, while Malaysia spent $101B, or 23.9% of GDP.

Debt-to-GDP ratio is 57.6% in Croatia and 70.1% in Malaysia, ranking 86/185 and 58/185, respectively.

Government deficit by year

Deficit/surplus
Croatia

Malaysia
1x
Year Deficit/surplus, % of GDP
Croatia Malaysia
2024 -1.95% -3.95%
2023 -0.79% -3.97%
2022 0.12% -4.56%
2021 -2.58% -6.03%
2020 -7.23% -4.9%
2019 2.31% -2.01%
2018 0.23% -2.64%
2017 0.8% -2.41%
2016 -1.04% -2.6%
2015 -3.53% -2.55%
2014 -5.19% -2.63%
2013 -5.52% -3.48%
2012 -5.46% -3.1%
2011 -7.53% -3.57%
2010 -6.46% -4.32%
2009 -7.15% -5.88%
2008 -2.34% -3.4%
2007 -2.28% -2.57%
2006 -2.01% -2.6%
2005 -3.24% -2.83%
2004 -6.09% -3.35%
2003 -5.03% -4.6%
2002 -4.9% -3.96%
2001 -4.79% -4.36%
2000 -9.2% -6.05%
1999 -11.1% -3%
1998 -6.36% -0.63%
1997 -4.93% 4.84%
1996 -4.41% 3.27%
1995 -4.23% 3.1%
1994 -0.82% 5.45%
1993 -2.67% 3.44%
1992 -5.69% 1.81%
1991 - 1.6%
1990 - 0.15%

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

GeoRank.org/economy/croatia/malaysia | 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 Malaysia's deficit of $16.7B, or 3.95% of GDP.

Over the past 33 years, Croatia recorded a fiscal deficit in 29 of those years, while Malaysia ran a deficit in 27 years. On average, Croatia posted an annual deficit equal to 3.97% of GDP, compared to deficit of 2.24% of GDP for Malaysia.

Inflation comparison by year

Inflation
Croatia

Malaysia
1x
Year Consumer prices inflation
Croatia Malaysia
2024 2.97% 1.83%
2023 7.94% 2.49%
2022 10.8% 3.38%
2021 2.55% 2.48%
2020 0.15% -1.14%
2019 0.77% 0.66%
2018 1.5% 0.88%
2017 1.13% 3.87%
2016 -1.12% 2.09%
2015 -0.46% 2.1%
2014 -0.22% 3.14%
2013 2.22% 2.11%
2012 3.41% 1.66%
2011 2.27% 3.17%
2010 1.03% 1.62%
2009 2.38% 0.58%
2008 6.08% 5.44%
2007 2.9% 2.03%
2006 3.19% 3.61%
2005 3.32% 2.98%
2004 2.06% 1.42%
2003 1.77% 1.09%
2002 1.67% 1.81%
2001 3.78% 1.42%
2000 4.61% 1.53%
1999 4.02% 2.74%
1998 6.4% 5.27%
1997 4.17% 2.66%

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

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

Over the past 28 years, Croatia has recorded an average annual inflation rate of 2.9%, compared with 2.25% in Malaysia. In 2024, inflation was 2.97% in Croatia and 1.83% in Malaysia.

Top exports between countries

Croatia
Export category Export value
Transport & tourism services $3.28M
Business & finance services $2.91M
Chemicals & pharma $1.62M
Raw materials & minerals $1.41M
Machinery & equipment $1.1M
IT & IP services $1.05M
Processed food, beverages & tobacco $1.03M
Metals $823K
Wood & paper products $778K
Textiles & consumer goods $274K
Malaysia
Export category Export value
Machinery & equipment $14.2M
Processed food, beverages & tobacco $5.73M
Chemicals & pharma $3.67M
Raw materials & minerals $2.68M
Textiles & consumer goods $684K
Metals $564K
Wood & paper products $375K
Miscellaneous $128K
Precious metals & jewellery $7K

Balance of trade

Croatia Malaysia
Current account balance
-$1.05B
2024
$7.15B
2024
Current account balance ranking
125/190
2024
26/190
2024
Current account balance, % of GDP
-1.13%
2024
+1.69%
2024
Goods imports
$41.5B
2024
$223B
2024
Goods exports
$21.9B
2024
$248B
2024
Service imports
$8.35B
2024
$56.4B
2024
Service exports
$24.7B
2024
$53.4B
2024
Imports of goods and services, % of GDP
54.8%
2024
66%
2024
Exports of goods and services, % of GDP
50.1%
2024
71.3%
2024

Economic freedom indices

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

Croatia Malaysia
Economic freedom 67.5 68
Economic freedom ranking 56/197 51/197
Property rights 81.1 62.7
Government integrity 52.6 52.9
Judicial effectiveness 71.7 63.4
Tax burden 70 83.5
Government spending 34.9 82
Fiscal health 92.2 62.5
Business freedom 79.6 79.6
Labor freedom 58.9 55.4
Monetary freedom 69.9 80.8
Trade freedom 79.4 83
Investment freedom 60 60
Financial freedom 60 50

Economic freedom comparison by year

Croatia
Malaysia
1x
Year Economic freedom index
Croatia Malaysia
2026 67.5 68
2025 68.7 67.1
2024 67.2 65.7
2023 66.4 67.3
2022 67.6 68.1
2021 63.6 74.4
2020 62.2 74.7
2019 61.4 74
2018 61 74.5
2017 59.4 73.8
2016 59.1 71.5
2015 61.5 70.8
2014 60.4 69.6
2013 61.3 66.1
2012 60.9 66.4
2011 61.1 66.3
2010 59.2 64.8
2009 55.1 64.6
2008 54.1 63.9
2007 53.4 63.8
2006 53.6 61.6
2005 51.9 61.9
2004 53.1 59.9
2003 53.3 61.1
2002 51.1 60.1
2001 50.7 60.2
2000 53.6 66
1999 53.1 68.9
1998 51.7 68.2
1997 46.7 66.8
1996 48 69.9
1995 - 71.9

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Croatia is 67.5, ranking 56/197, compared to 68 for Malaysia, ranking 51/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Croatia Malaysia
Services, % of GDP
60.8%
2024
53.7%
2024
Industry, % of GDP
19.2%
2024
37%
2024
Agriculture, forestry, and fishing, % of GDP
2.9%
2024
8.13%
2024
GNI, Atlas method
$86B
2024
$414B
2024
GNI per capita, PPP
$49,740
2024
$37,450
2024
Total reserves including gold
$3.34B
2024
$116B
2024
Total reserves ranking
116/177
2024
24/177
2024
Net foreign direct investment
-$1.88B
2024
-$2.55B
2024
Net inflows of foreign direct investment
$4.54B
2024
$15.6B
2024
Net outflows of foreign direct investment
$2.79B
2024
$13B
2024
Poverty at national poverty lines
20.3%
2023
5.8%
2023
Gross capital formation, % of GDP
24.4%
2024
22%
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/malaysia | 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. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2019–2024, 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.