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Economy of Croatia vs Nicaragua compared: GDP & Debt

Updated on by Georank team

Croatia has a GDP of $93B compared to $19.7B for Nicaragua, ranking 75/197 and 131/197 by economy size, respectively.

Croatia has $53.5B in government debt (57.6% of GDP), compared to $7.71B (39.1% of GDP) in Nicaragua.

Croatia vs Nicaragua GDP by year

Croatia
Nicaragua
1x
Year GDP, current $
Croatia Nicaragua
2024 $92,983,810,329 $19,693,982,968
2023 $85,624,153,964 $17,805,842,284
2022 $71,196,498,671 $15,634,572,502
2021 $69,002,365,163 $14,209,020,362
2020 $57,959,843,541 $12,726,422,432
2019 $61,466,721,186 $12,699,023,614
2018 $61,667,925,219 $13,025,221,974
2017 $56,182,782,586 $13,785,893,007
2016 $52,650,714,172 $13,286,093,388
2015 $50,998,893,385 $12,756,696,261
2014 $59,606,934,501 $11,880,438,824
2013 $59,846,265,182 $10,982,988,249
2012 $57,548,115,904 $10,532,017,232
2011 $62,889,007,657 $9,774,329,333
2010 $58,975,205,417 $8,758,602,233
2009 $62,315,996,675 $8,298,702,489
2008 $68,472,854,617 $8,496,967,597
2007 $59,290,621,398 $7,423,375,015
2006 $49,583,544,860 $6,763,672,381
2005 $45,013,119,282 $6,321,324,279
2004 $41,836,292,157 $5,792,932,838
2003 $35,245,317,002 $5,322,228,351
2002 $26,757,722,429 $5,223,727,303
2001 $23,066,883,850 $5,351,752,034
2000 $22,134,411,297 $5,109,587,050
1999 $23,777,026,779 $4,856,026,259
1998 $25,890,228,430 $4,635,347,386
1997 $24,175,764,812 $4,389,973,490
1996 $24,150,978,347 $4,308,351,903
1995 $22,772,394,547 $4,140,470,000
1994 $15,062,911,617 $3,863,185,119
1993 $11,259,647,874 $1,756,454,248
1992 $10,621,169,291 $1,792,800,000
1991 $18,760,386,775 $1,488,804,124
1990 $25,650,213,280 $1,009,455,484
1989 - $1,013,184,756
1988 - $2,630,900,096
1987 - $3,851,200,118
1986 - $2,885,799,994
1985 - $2,683,699,935
1984 - $3,117,599,872
1983 - $2,753,100,058
1982 - $2,454,499,872
1981 - $2,474,700,227
1980 - $2,144,300,006
1979 - $1,567,599,982
1978 - $2,127,699,979
1977 - $2,226,999,874
1976 - $1,836,899,999
1975 - $1,581,599,959
1974 - $1,521,400,012
1973 - $1,092,900,015
1972 - $878,570,045
1971 - $828,569,953
1970 - $778,569,939
1969 - $750,000,003
1968 - $692,859,985
1967 - $657,140,011
1966 - $607,140,010
1965 - $564,290,020
1964 - $347,119,918
1963 - $297,324,163
1962 - $269,283,804
1961 - $244,144,237
1960 - $227,223,322

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

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

GDP per capita in Croatia vs Nicaragua by year

Croatia
GDP per capita

GDP per capita, PPP
Nicaragua
GDP per capita

GDP per capita, PPP
1x
Year Current $
Croatia Nicaragua
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $24,050 $49,551 $2,848 $8,709
2023 $22,184 $47,760 $2,609 $8,320
2022 $18,466 $42,125 $2,323 $7,797
2021 $17,789 $36,930 $2,138 $7,119
2020 $14,808 $31,594 $1,938 $6,274
2019 $15,564 $33,064 $1,959 $5,981
2018 $15,460 $29,789 $2,035 $5,935
2017 $13,902 $27,888 $2,183 $6,225
2016 $12,820 $25,803 $2,132 $5,882
2015 $12,284 $23,750 $2,074 $5,449
2014 $14,187 $22,706 $1,958 $5,068
2013 $14,135 $22,430 $1,835 $4,711
2012 $13,508 $21,619 $1,785 $4,508
2011 $14,692 $21,191 $1,680 $4,325
2010 $13,730 $20,139 $1,527 $4,042
2009 $14,475 $20,358 $1,467 $3,880
2008 $15,888 $21,018 $1,524 $4,044
2007 $13,756 $19,568 $1,350 $3,891
2006 $11,501 $17,629 $1,248 $3,658
2005 $10,444 $15,451 $1,183 $3,456
2004 $9,719 $14,686 $1,099 $3,255
2003 $8,190 $13,692 $1,021 $3,046
2002 $6,220 $12,775 $1,014 $2,948
2001 $5,365 $11,653 $1,052 $2,917
2000 $4,954 $10,675 $1,017 $2,806
1999 $5,269 $9,943 $980 $2,672
1998 $5,713 $9,890 $949 $2,497
1997 $5,331 $9,536 $913 $2,418
1996 $5,300 $8,806 $911 $2,325
1995 $4,929 $8,052 $892 $2,187
1994 $3,238 $7,337 $849 $2,064
1993 $2,448 $6,861 $394 $1,998
1992 $2,321 $7,326 $411 $2,003
1991 $4,001 $7,918 $350 $1,995
1990 $5,369 $9,526 $242.5 $1,979
1989 - - $249.2 -
1988 - - $662 -
1987 - - $992 -
1986 - - $761 -
1985 - - $724 -
1984 - - $861 -
1983 - - $780 -
1982 - - $714 -
1981 - - $740 -
1980 - - $659 -
1979 - - $495 -
1978 - - $691 -
1977 - - $744 -
1976 - - $633 -
1975 - - $561 -
1974 - - $557 -
1973 - - $413 -
1972 - - $341 -
1971 - - $331 -
1970 - - $321 -
1969 - - $319 -
1968 - - $304 -
1967 - - $297.9 -
1966 - - $284 -
1965 - - $272.3 -
1964 - - $172.7 -
1963 - - $152.5 -
1962 - - $142.3 -
1961 - - $132.9 -
1960 - - $127.5 -

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

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

Croatia's GDP per capita is $24,050, ranking 50/197, compared to $2,848 in Nicaragua, ranking 141/197. Adjusted for purchasing power (GDP per capita PPP), Croatia ranks 46th at $49,551, while Nicaragua ranks 138th at $8,709.

Economic indicators

Croatia Nicaragua
Gross domestic product
$93B
2024
$19.7B
2024
GDP rank
75/197
2024
131/197
2024
GDP growth
3.83%
2023-2024
3.59%
2023-2024
GDP per capita
$24,050
2024
$2,848
2024
GDP per capita rank
50/197
2024
141/197
2024
GDP per capita, PPP
$49,551
2024
$8,709
2024
GDP per capita PPP rank
46/197
2024
138/197
2024
Government debt
$53.5B
2024
$7.71B
2024
Debt-to-GDP ratio
57.6%
2024
39.1%
2024
Government debt per person
$13,844
2024
$1,115
2024
Government debt per person rank
42/185
2024
138/185
2024
Average annual personal income after taxes
$20,856
2026
$2,318
2026
Market capitalization of domestic companies
$27.8B
2024
n/a
Number of billionaires
1
2025
n/a
Income share by richest 10%
23.3%
2023
37.2%
2014
Income share by poorest 10%
2.9%
2023
2%
2014
Government expenditure, % of GDP
48%
2024
27.1%
2024
Consumer prices inflation
2.97%
2023-2024
4.6%
2023-2024
Central bank interest rate n/a
6%
2025
Unemployment rate
5.03%
2024
5.2%
2018
Population
3812193
7124343

Spending and national debt comparison by year

Croatia
Spending

Debt
Nicaragua
Spending

Debt
1x
Year % of GDP
Croatia Nicaragua
Government spending Government debt Government spending Government debt
2024 48% 57.6% 27.1% 39.1%
2023 46.8% 61.8% 26% 42.3%
2022 45% 68.5% 28.6% 45.9%
2021 48.1% 78.2% 30% 48.4%
2020 53.7% 86.5% 28.9% 49.2%
2019 44.3% 70.9% 27.7% 44.2%
2018 44.9% 72.8% 27.7% 39.1%
2017 44.1% 76.2% 27.3% 34.7%
2016 45.9% 79.3% 26.8% 30.9%
2015 47.5% 82.8% 25.4% 28.9%
2014 48.7% 83.2% 24.6% 28.7%
2013 47.9% 79.5% 24.2% 28.8%
2012 47.3% 68.9% 24.1% 27.9%
2011 48.6% 63.1% 23.5% 28.8%
2010 48.1% 56.8% 22.6% 30.3%
2009 49.2% 47.9% 22.7% 29.3%
2008 46.3% 38.9% 21.9% 26%
2007 46.3% 37.1% 21.5% 30.9%
2006 44.6% 38.4% 21.4% 51.2%
2005 46.5% 40.9% 21.3% 66.6%
2004 49% 40% 20.8% 84%
2003 49.6% 37.8% 20.9% 109.5%
2002 49.2% 36.5% 18.7% 110.4%
2001 50.6% 36.6% 19.2% 87.5%
2000 54.6% 35.4% 20.6% 95.2%
1999 58.9% 30% 22.1% 99.8%
1998 56.8% 23.3% 18.5% 86.5%
1997 51.7% 22.5% 17.9% 86.4%
1996 52.1% - 18% -
1995 50.3% - 17.7% -
1994 45.4% - 18.4% -
1993 36% - 18.4% -
1992 37.1% - 18.4% -
1991 - - 16.8% -
1990 - - 28.2% -
1989 - - - -
1988 - - 24.8% -
1987 - - - 266.6%
1986 - - 26.1% 159.2%
1985 - - 29.9% 218%
1984 - - 31.9% 198%
1983 - - 33.8% 211.6%
1982 - - 49.4% 159.1%
1981 - - 39.3% 149.1%
1980 - - 30.4% 152.1%
1979 - - 20.7% 116.3%
1978 - - 17.7% 76.9%
1977 - - 19.9% 62.7%
1976 - - 16.2% 59.5%
1975 - - 17.5% 57.8%
1974 - - 15.3% 40%
1973 - - 12.8% 32.9%
1972 - - 15.1% 30.2%
1971 - - 15.1% 31.6%
1970 - - 13.2% 35.4%
1969 - - 11.1% -
1968 - - 10.9% -
1967 - - 12.7% -
1966 - - 12.2% -
1965 - - 10.9% -
1964 - - 10.2% -
1963 - - 10.5% -
1962 - - 10.6% -
1961 - - 9.93% -
1960 - - 11.2% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1992–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-02-20).

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

In 2024, Croatia's government spending was $44.6B, accounting for 48% of its GDP, while Nicaragua spent $5.34B, or 27.1% of GDP.

Debt-to-GDP ratio is 57.6% in Croatia and 39.1% in Nicaragua, ranking 86/185 and 136/185, respectively.

Government deficit by year

Deficit/surplus
Croatia

Nicaragua
1x
Year Deficit/surplus, % of GDP
Croatia Nicaragua
2024 -1.95% 2.48%
2023 -0.79% 2.31%
2022 0.12% 0.65%
2021 -2.58% -1.26%
2020 -7.23% -2.57%
2019 2.31% -1.12%
2018 0.23% -4.35%
2017 0.8% -1.75%
2016 -1.04% -1.92%
2015 -3.53% -1.64%
2014 -5.19% -0.89%
2013 -5.52% -0.3%
2012 -5.46% 0.22%
2011 -7.53% 0.59%
2010 -6.46% 0.69%
2009 -7.15% -0.9%
2008 -2.34% 0.27%
2007 -2.28% 1.88%
2006 -2.01% 1.36%
2005 -3.24% 1.72%
2004 -6.09% 1.69%
2003 -5.03% 1.3%
2002 -4.9% 2.07%
2001 -4.79% 0.34%
2000 -9.2% 2.15%
1999 -11.1% -6.86%
1998 -6.36% -2.88%
1997 -4.93% -3.31%
1996 -4.41% -5%
1995 -4.23% -4.62%
1994 -0.82% -5.79%
1993 -2.67% -4.66%
1992 -5.69% -3.8%
1991 - -3.45%
1990 - -15.2%
1989 - -
1988 - -22.4%
1987 - -
1986 - -7.33%
1985 - -11.3%
1984 - -11.8%
1983 - -15.6%
1982 - -20.2%
1981 - -10.6%
1980 - -6.53%
1979 - -5.89%
1978 - -4.44%
1977 - -5.91%
1976 - -2.2%
1975 - -3.53%
1974 - -1.41%
1973 - 1.21%
1972 - -2.61%
1971 - -2.33%
1970 - -2.69%
1969 - -1.57%
1968 - -1.21%
1967 - -2.11%
1966 - -1.04%
1965 - 0.3%
1964 - 0.2%
1963 - 0.75%
1962 - -0.29%
1961 - 0.04%
1960 - -1.28%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1992–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-02-20).

GeoRank.org/economy/croatia/nicaragua | 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 Nicaragua's surplus of $489M, or 2.48% of GDP.

Over the past 33 years, Croatia recorded a fiscal deficit in 29 of those years, while Nicaragua ran a deficit in 18 years. On average, Croatia posted an annual deficit equal to 3.97% of GDP, compared to deficit of 1.03% of GDP for Nicaragua.

Inflation comparison by year

Inflation
Croatia

Nicaragua
1x
Year Consumer prices inflation
Croatia Nicaragua
2024 2.97% 4.6%
2023 7.94% 8.4%
2022 10.8% 10.5%
2021 2.55% 4.9%
2020 0.15% 3.7%
2019 0.77% 5.4%
2018 1.5% 4.9%
2017 1.13% 3.9%
2016 -1.12% 3.5%
2015 -0.46% 4%
2014 -0.22% 6%
2013 2.22% 7.1%
2012 3.41% 7.2%
2011 2.27% 8.1%
2010 1.03% 5.5%
2009 2.38% 3.7%
2008 6.08% 19.8%
2007 2.9% 11.1%
2006 3.19% 9.1%
2005 3.32% 9.6%
2004 2.06% 8.5%
2003 1.77% 5.3%
2002 1.67% 3.8%
2001 3.78% 7.4%
2000 4.61% 11.5%
1999 4.02% 11.2%
1998 6.4% 13%
1997 4.17% 9.2%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Croatia has recorded an average annual inflation rate of 2.9%, compared with 7.53% in Nicaragua. In 2024, inflation was 2.97% in Croatia and 4.6% in Nicaragua.

Top exports between countries

Croatia
Export category Export value
Machinery & equipment $5K
Nicaragua
Export category Export value
Processed food, beverages & tobacco $299K
Raw agricultural goods $294K

Balance of trade

Croatia Nicaragua
Current account balance
-$1.05B
2024
$818M
2024
Current account balance ranking
125/190
2024
55/190
2024
Current account balance, % of GDP
-1.13%
2024
+4.15%
2024
Goods imports
$41.5B
2024
$10.1B
2024
Goods exports
$21.9B
2024
$6.84B
2024
Service imports
$8.35B
2024
$1.31B
2024
Service exports
$24.7B
2024
$1.3B
2024
Imports of goods and services, % of GDP
54.8%
2024
58.1%
2024
Exports of goods and services, % of GDP
50.1%
2024
40.5%
2024

Economic freedom indices

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

Croatia Nicaragua
Economic freedom 67.5 53.6
Economic freedom ranking 56/197 139/197
Property rights 81.1 23.8
Government integrity 52.6 13.4
Judicial effectiveness 71.7 8.8
Tax burden 70 74.5
Government spending 34.9 77.7
Fiscal health 92.2 96.9
Business freedom 79.6 54.4
Labor freedom 58.9 47.3
Monetary freedom 69.9 69.4
Trade freedom 79.4 67
Investment freedom 60 60
Financial freedom 60 50

Economic freedom comparison by year

Croatia
Nicaragua
1x
Year Economic freedom index
Croatia Nicaragua
2026 67.5 53.6
2025 68.7 54
2024 67.2 53.4
2023 66.4 54.9
2022 67.6 54.8
2021 63.6 56.3
2020 62.2 57.2
2019 61.4 57.7
2018 61 58.9
2017 59.4 59.2
2016 59.1 58.6
2015 61.5 57.6
2014 60.4 58.4
2013 61.3 56.6
2012 60.9 57.9
2011 61.1 58.8
2010 59.2 58.3
2009 55.1 59.8
2008 54.1 60.8
2007 53.4 62.7
2006 53.6 63.8
2005 51.9 62.5
2004 53.1 61.4
2003 53.3 62.6
2002 51.1 61.1
2001 50.7 58
2000 53.6 56.9
1999 53.1 54
1998 51.7 53.8
1997 46.7 53.3
1996 48 54.1
1995 - 42.5

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

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

The Economic Freedom Index for Croatia is 67.5, ranking 56/197, compared to 53.6 for Nicaragua, ranking 139/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Croatia Nicaragua
Services, % of GDP
60.8%
2024
46.8%
2024
Industry, % of GDP
19.2%
2024
27.6%
2024
Agriculture, forestry, and fishing, % of GDP
2.9%
2024
14.4%
2024
GNI, Atlas method
$86B
2024
$17.4B
2024
GNI per capita, PPP
$49,740
2024
$8,270
2024
Total reserves including gold
$3.34B
2024
$6.1B
2024
Total reserves ranking
116/177
2024
91/177
2024
Net foreign direct investment
-$1.88B
2024
-$1.28B
2024
Net inflows of foreign direct investment
$4.54B
2024
$1.35B
2024
Net outflows of foreign direct investment
$2.79B
2024
$73.8M
2024
Servicing debt to the IMF, % of GNI n/a
9.74%
2024
Poverty at national poverty lines
20.3%
2023
24.9%
2016
Gross capital formation, % of GDP
24.4%
2024
24.7%
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/nicaragua | 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 (1992–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, 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 (2022–2024, 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.