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Economy of Croatia vs Paraguay compared: GDP & Debt

Updated on by Georank

Croatia has a GDP of $105B compared to $49.3B for Paraguay, ranking 73/197 and 97/197 by economy size, respectively.

Croatia has $58.7B in government debt (55.9% of GDP), compared to $18.8B (38.1% of GDP) in Paraguay.

Croatia vs Paraguay GDP by year

Croatia
Paraguay
1x
Year GDP, current $
Croatia Paraguay
2025 $105,060,182,186 $49,278,227,554
2024 $92,981,894,168 $44,738,819,362
2023 $85,621,337,533 $43,140,465,596
2022 $71,196,460,237 $41,841,201,627
2021 $69,002,262,505 $39,937,357,256
2020 $57,959,824,238 $35,432,178,068
2019 $61,467,261,345 $37,925,338,329
2018 $61,668,280,700 $40,225,448,341
2017 $56,182,225,079 $38,997,129,474
2016 $52,650,804,052 $36,089,700,223
2015 $50,999,271,059 $36,211,447,840
2014 $59,607,109,597 $40,377,929,296
2013 $59,846,869,999 $38,501,122,141
2012 $57,547,495,860 $33,271,921,136
2011 $62,889,150,894 $33,756,238,767
2010 $58,975,127,201 $27,260,886,405
2009 $62,315,450,611 $22,355,151,162
2008 $68,473,103,477 $24,615,267,664
2007 $59,290,547,254 $17,856,393,235
2006 $49,583,643,048 $13,429,430,050
2005 $45,012,776,906 $10,737,500,188
2004 $41,836,096,243 $9,624,440,836
2003 $35,244,797,329 $7,691,367,471
2002 $26,757,633,353 $7,196,260,657
2001 $23,067,071,478 $8,495,806,432
2000 $22,134,069,750 $8,855,705,140
1999 $23,776,940,769 $8,837,070,236
1998 $25,889,813,449 $9,260,481,572
1997 $24,175,272,572 $9,965,225,678
1996 $24,151,469,717 $9,788,391,781
1995 $22,772,224,146 $9,062,131,475
1994 $15,062,911,617 $7,870,982,005
1993 $11,259,647,874 $7,249,533,620
1992 $10,621,169,291 $7,157,424,031
1991 $18,760,386,775 $6,984,367,763
1990 $25,650,213,280 $5,812,114,523
1989 - $4,757,732,200
1988 - $4,255,683,528
1987 - $3,971,044,724
1986 - $3,723,993,943
1985 - $3,282,449,236
1984 - $4,502,462,807
1983 - $5,673,248,726
1982 - $5,419,411,765
1981 - $5,624,515,873
1980 - $4,448,087,302
1979 - $3,416,777,778
1978 - $2,559,857,143
1977 - $2,092,158,730
1976 - $1,698,960,317
1975 - $1,511,420,635
1974 - $1,333,475,397
1973 - $995,531,746
1972 - $769,039,683
1971 - $664,571,429
1970 - $594,611,111
1969 - $556,293,651
1968 - $517,650,794
1967 - $492,674,603
1966 - $465,888,889
1965 - $443,587,302
1964 - $408,349,206
1963 - $383,904,762
1962 - $360,698,413
1961 - $322,053,713
1960 - $288,884,368

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Croatia vs Paraguay by year

Croatia
GDP per capita

GDP per capita, PPP
Paraguay
GDP per capita

GDP per capita, PPP
1x
Year Current $
Croatia Paraguay
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $27,104 - $7,027 -
2024 $24,050 $49,551 $6,457 $18,524
2023 $22,183 $47,760 $6,303 $17,564
2022 $18,466 $42,125 $6,189 $16,347
2021 $17,789 $36,930 $5,975 $15,406
2020 $14,808 $31,594 $5,365 $14,309
2019 $15,564 $33,064 $5,821 $14,150
2018 $15,460 $29,789 $6,258 $14,139
2017 $13,902 $27,888 $6,152 $13,977
2016 $12,820 $25,803 $5,775 $13,329
2015 $12,284 $23,750 $5,879 $12,679
2014 $14,187 $22,706 $6,652 $12,607
2013 $14,135 $22,430 $6,436 $12,137
2012 $13,508 $21,619 $5,642 $10,954
2011 $14,692 $21,191 $5,805 $11,442
2010 $13,730 $20,139 $4,751 $10,893
2009 $14,475 $20,358 $3,942 $9,802
2008 $15,888 $21,018 $4,385 $9,867
2007 $13,756 $19,568 $3,212 $9,179
2006 $11,501 $17,629 $2,439 $8,561
2005 $10,443 $15,451 $1,971 $8,007
2004 $9,719 $14,686 $1,786 $7,686
2003 $8,190 $13,692 $1,444 $7,276
2002 $6,220 $12,775 $1,368 $6,924
2001 $5,365 $11,653 $1,638 $6,916
2000 $4,954 $10,675 $1,736 $6,937
1999 $5,269 $9,943 $1,766 $7,080
1998 $5,712 $9,890 $1,890 $7,227
1997 $5,331 $9,536 $2,079 $7,299
1996 $5,300 $8,806 $2,088 $7,040
1995 $4,929 $8,052 $1,979 $6,966
1994 $3,238 $7,337 $1,760 $6,542
1993 $2,448 $6,861 $1,662 $6,234
1992 $2,321 $7,326 $1,683 $5,952
1991 $4,001 $7,918 $1,685 $5,873
1990 $5,369 $9,526 $1,440 $5,637
1989 - - $1,211 -
1988 - - $1,114 -
1987 - - $1,069 -
1986 - - $1,031 -
1985 - - $935 -
1984 - - $1,319 -
1983 - - $1,710 -
1982 - - $1,680 -
1981 - - $1,793 -
1980 - - $1,457 -
1979 - - $1,149 -
1978 - - $883 -
1977 - - $740 -
1976 - - $616 -
1975 - - $562 -
1974 - - $508 -
1973 - - $389 -
1972 - - $308 -
1971 - - $272.1 -
1970 - - $249 -
1969 - - $238.2 -
1968 - - $226.8 -
1967 - - $220.9 -
1966 - - $213.9 -
1965 - - $208.7 -
1964 - - $197 -
1963 - - $189.9 -
1962 - - $182.8 -
1961 - - $167.1 -
1960 - - $153.4 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Croatia's GDP per capita is $27,104, ranking 49/197, compared to $7,027 in Paraguay, ranking 105/197. Adjusted for purchasing power (GDP per capita PPP), Croatia ranks 46th at $49,551, while Paraguay ranks 102nd at $18,524.

Economic indicators

Croatia Paraguay
Gross domestic product
$105B
2025
$49.3B
2025
GDP rank
73/197
2025
97/197
2025
GDP growth
3.4%
2024-2025
6.64%
2024-2025
GDP per capita
$27,104
2025
$7,027
2025
GDP per capita rank
49/197
2025
105/197
2025
GDP per capita, PPP
$49,551
2024
$18,524
2024
GDP per capita PPP rank
46/197
2024
102/197
2024
Government debt
$58.7B
2025
$18.8B
2025
Debt-to-GDP ratio
55.9%
2025
38.1%
2025
Government debt per person
$15,144
2025
$2,679
2025
Government debt per person rank
44/185
2025
111/185
2025
Average annual personal income after taxes
$20,376
2026
$6,874
2026
Market capitalization of domestic companies
$37.9B
2025
$313M
1999
Number of billionaires
1
2026
n/a
Income share by richest 10%
23.3%
2023
35%
2024
Income share by poorest 10%
2.9%
2023
2%
2024
Government expenditure, % of GDP
49.3%
2025
19.6%
2025
Consumer prices inflation
3.69%
2024-2025
4.04%
2024-2025
Central bank interest rate n/a
5.75%
2026
Unemployment rate
4.9%
2025
4.63%
2025
Population
3849788
7138671

Spending and national debt comparison by year

Croatia
Spending

Debt
Paraguay
Spending

Debt
1x
Year % of GDP
Croatia Paraguay
Government spending Government debt Government spending Government debt
2025 49.3% 55.9% 19.6% 38.1%
2024 48% 57.4% 20.9% 44.6%
2023 46.3% 60.9% 21.5% 41%
2022 45% 68.5% 20.2% 40.6%
2021 48.2% 78.2% 20.5% 37.5%
2020 53.8% 86.5% 22.6% 36.9%
2019 44.4% 70.9% 20.1% 25.8%
2018 45% 72.8% 18.5% 22.3%
2017 44.1% 76.2% 18.1% 19.8%
2016 45.9% 79.3% 17.7% 19.4%
2015 47.6% 82.8% 18% 18.6%
2014 48.7% 83.2% 17.1% 15.6%
2013 48% 79.5% 17.1% 13.5%
2012 47.3% 68.9% 17.6% 12.3%
2011 48.6% 63.1% 14.7% 11.1%
2010 48.2% 56.8% 13.3% 13%
2009 49.3% 47.9% 14.3% 14.9%
2008 46.3% 38.9% 11.8% 16%
2007 46.4% 37.1% 13.1% 16.8%
2006 44.6% 38.4% 14.1% 21%
2005 46.5% 40.9% 14% 28.3%
2004 49% 40% 14% 36%
2003 49.6% 37.8% 14.6% 37.5%
2002 49.2% 36.5% 17.6% 50.5%
2001 50.6% 36.6% 19% 37.1%
2000 54.6% 35.4% 19.6% 33.6%
1999 58.9% 30% 19.2% 32%
1998 56.8% 23.3% 18% 22.1%
1997 51.7% 22.5% 18.1% 18%
1996 52.1% - 16.9% 16.8%
1995 50.3% - 15.7% 17.6%
1994 45.4% - 14.5% 18.7%
1993 35.9% - 12.9% 26.6%
1992 37.1% - 13% 34.4%
1991 - - 11.4% 49.4%
1990 - - 10.5% 67%
1989 - - 11.8% 52.9%
1988 - - 9.75% 58.9%
1987 - - 10.1% 68.7%
1986 - - 9.25% 57.1%
1985 - - 11.4% 54.7%
1984 - - 13% 31%
1983 - - 13% 22.6%
1982 - - 13.2% 21.3%
1981 - - 13.3% 17.4%
1980 - - 11.6% 17.4%
1979 - - 11.7% 19.7%
1978 - - 11.9% 20.9%
1977 - - 11.2% 18.8%
1976 - - 9.8% 14.1%
1975 - - 10.5% 12.6%
1974 - - 9.44% 12.5%
1973 - - 11.2% 15.4%
1972 - - 12.5% 18.2%
1971 - - 12.3% 18.9%
1970 - - 13.3% 19.2%
1969 - - 14% -
1968 - - 13.5% -
1967 - - 12.2% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1967–1997, retrieved 2026-07-08).

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

In 2025, Croatia's government spending was $51.8B, accounting for 49.3% of its GDP, while Paraguay spent $9.66B, or 19.6% of GDP.

Debt-to-GDP ratio is 55.9% in Croatia and 38.1% in Paraguay, ranking 87/185 and 138/185, respectively.

Government deficit by year

Deficit/surplus
Croatia

Paraguay
1x
Year Deficit/surplus, % of GDP
Croatia Paraguay
2025 -2.89% -1.69%
2024 -1.95% -2.1%
2023 -0.79% -3.81%
2022 0.14% -2.65%
2021 -2.57% -3.39%
2020 -7.24% -5.72%
2019 2.32% -2.44%
2018 0.22% -1.01%
2017 0.81% -0.44%
2016 -1.04% -0.37%
2015 -3.53% -0.44%
2014 -5.19% -0.27%
2013 -5.51% -1.16%
2012 -5.46% -0.58%
2011 -7.51% 1.29%
2010 -6.45% 1.54%
2009 -7.15% 0.59%
2008 -2.33% 2.29%
2007 -2.27% 1.27%
2006 -2% 0.91%
2005 -3.24% 0.74%
2004 -6.09% 1.33%
2003 -5.03% -0.07%
2002 -4.9% -1.89%
2001 -4.79% 0.07%
2000 -9.2% -0.55%
1999 -11.1% 2.67%
1998 -6.36% 4.28%
1997 -4.93% 3%
1996 -4.41% 2.43%
1995 -4.23% 2.78%
1994 -0.82% 4.59%
1993 -2.67% 4.27%
1992 -5.69% 3.1%
1991 - 3.41%
1990 - 7.56%
1989 - 5.48%
1988 - 3.01%
1987 - 2.68%
1986 - 3.08%
1985 - 0.85%
1984 - -0.42%
1983 - 0.27%
1982 - 1.52%
1981 - 0.15%
1980 - 3.4%
1979 - 4.13%
1978 - -3.42%
1977 - -0.19%
1976 - -0.06%
1975 - -1.24%
1974 - 1.67%
1973 - -0.91%
1972 - -2.51%
1971 - -1.25%
1970 - -1.26%
1969 - -1.62%
1968 - -2.34%
1967 - -1.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-07-08).

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

In 2025, Croatia's government deficit, the difference between spending and revenue, was $3.04B, equivalent to 2.89% of GDP. This compares to Paraguay's deficit of $832M, or 1.69% of GDP.

Over the past 34 years, Croatia recorded a fiscal deficit in 30 of those years, while Paraguay ran a deficit in 17 years. On average, Croatia posted an annual deficit equal to 3.94% of GDP, compared to surplus of 0.25% of GDP for Paraguay.

Inflation comparison by year

Inflation
Croatia

Paraguay
1x
Year Consumer prices inflation
Croatia Paraguay
2025 3.69% 4.04%
2024 2.97% 3.84%
2023 7.94% 4.63%
2022 10.8% 9.77%
2021 2.55% 4.79%
2020 0.15% 1.77%
2019 0.77% 2.76%
2018 1.5% 3.98%
2017 1.13% 3.6%
2016 -1.12% 4.09%
2015 -0.46% 3.13%
2014 -0.22% 5.03%
2013 2.22% 2.68%
2012 3.41% 3.68%
2011 2.27% 8.25%
2010 1.03% 4.65%
2009 2.38% 2.59%
2008 6.08% 10.2%
2007 2.9% 8.13%
2006 3.19% 9.59%
2005 3.32% 6.81%
2004 2.06% 4.32%
2003 1.77% 14.2%
2002 1.67% 10.5%
2001 3.78% 7.27%
2000 4.61% 8.98%
1999 4.02% 6.75%
1998 6.4% 11.6%
1997 4.17% 6.95%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Croatia has recorded an average annual inflation rate of 2.93%, compared with 6.16% in Paraguay. In 2025, inflation was 3.69% in Croatia and 4.04% in Paraguay.

Top exports between countries

Croatia
Export category Export value
Processed food, beverages & tobacco $575K
Metals $319K
Weapons & explosives $254K
Machinery & equipment $214K
Miscellaneous $66K
Textiles & consumer goods $27K
Chemicals & pharma $25K
Raw materials & minerals $1K
Paraguay
Export category Export value
Raw agricultural goods $1.15M
Animal & marine products $243K
Processed food, beverages & tobacco $141K
Wood & paper products $9K

Balance of trade

Croatia Paraguay
Current account balance
-$1.93B
2024
-$1.57B
2025
Current account balance ranking
141/190
2024
131/190
2025
Current account balance, % of GDP
-2.08%
2024
-3.18%
2025
Goods imports
$42.5B
2024
$17.5B
2025
Goods exports
$21.9B
2024
$15.4B
2025
Service imports
$8.42B
2024
$2.75B
2025
Service exports
$24.8B
2024
$3.72B
2025
Imports of goods and services, % of GDP
53%
2025
39.3%
2025
Exports of goods and services, % of GDP
48%
2025
37.2%
2025

Economic freedom indices

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

Croatia Paraguay
Economic freedom 67.5 66.4
Economic freedom ranking 56/197 61/197
Property rights 81.1 44.2
Government integrity 52.6 27.3
Judicial effectiveness 71.7 38.4
Tax burden 70 95.9
Government spending 34.9 86.9
Fiscal health 92.2 83
Business freedom 79.6 72
Labor freedom 58.9 44.1
Monetary freedom 69.9 76.5
Trade freedom 79.4 78.4
Investment freedom 60 80
Financial freedom 60 70

Economic freedom comparison by year

Croatia
Paraguay
1x
Year Economic freedom index
Croatia Paraguay
2026 67.5 66.4
2025 68.7 65.2
2024 67.2 60.1
2023 66.4 61
2022 67.6 62.9
2021 63.6 62.6
2020 62.2 63
2019 61.4 61.8
2018 61 62.1
2017 59.4 62.4
2016 59.1 61.5
2015 61.5 61.1
2014 60.4 62
2013 61.3 61.1
2012 60.9 61.8
2011 61.1 62.3
2010 59.2 61.3
2009 55.1 61
2008 54.1 60
2007 53.4 58.3
2006 53.6 55.6
2005 51.9 53.4
2004 53.1 56.7
2003 53.3 58.2
2002 51.1 59.6
2001 50.7 60.3
2000 53.6 64
1999 53.1 63.7
1998 51.7 65.2
1997 46.7 67.3
1996 48 67.1
1995 - 65.9

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Croatia is 67.5, ranking 56/197, compared to 66.4 for Paraguay, ranking 61/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Croatia Paraguay
Services, % of GDP
60.9%
2025
48.1%
2025
Industry, % of GDP
19%
2025
32.3%
2025
Agriculture, forestry, and fishing, % of GDP
2.83%
2025
11.6%
2025
GNI, Atlas method
$98.3B
2025
$47.4B
2025
GNI per capita, PPP
$50,410
2025
$19,390
2025
Total reserves including gold
$4.22B
2025
$9.57B
2024
Total reserves ranking
110/177
2025
82/177
2024
Net foreign direct investment
-$1.74B
2024
-$945M
2025
Net inflows of foreign direct investment
$4.54B
2024
$1.1B
2024
Net outflows of foreign direct investment
$2.79B
2024
$166M
2024
Servicing debt to the IMF, % of GNI n/a
4.58%
2024
Poverty at national poverty lines
20.3%
2024
20.1%
2024
Gross capital formation, % of GDP
24.6%
2025
25.3%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1967–1997, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2020–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.