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Economy of Croatia vs Singapore compared: GDP & Debt

Updated on by Georank team

Croatia has a GDP of $93B compared to $547B for Singapore, ranking 75/197 and 28/197 by economy size, respectively.

Croatia has $53.5B in government debt (57.6% of GDP), compared to $950B (173.5% of GDP) in Singapore.

Croatia vs Singapore GDP by year

Croatia
Singapore
1x
Year GDP, current $
Croatia Singapore
2024 $92,983,810,329 $547,386,645,892
2023 $85,624,153,964 $505,439,514,078
2022 $71,196,498,671 $509,017,841,147
2021 $69,002,365,163 $436,591,382,250
2020 $57,959,843,541 $349,165,858,545
2019 $61,466,721,186 $376,161,998,830
2018 $61,667,925,219 $377,123,710,561
2017 $56,182,782,586 $343,673,334,902
2016 $52,650,714,172 $319,646,468,521
2015 $50,998,893,385 $307,998,545,269
2014 $59,606,934,501 $314,863,580,758
2013 $59,846,265,182 $307,576,360,585
2012 $57,548,115,904 $295,092,888,077
2011 $62,889,007,657 $279,356,499,090
2010 $58,975,205,417 $239,807,980,591
2009 $62,315,996,675 $194,150,283,772
2008 $68,472,854,617 $193,617,323,539
2007 $59,290,621,398 $180,941,701,358
2006 $49,583,544,860 $148,627,286,361
2005 $45,013,119,282 $127,807,848,728
2004 $41,836,292,157 $115,033,593,101
2003 $35,245,317,002 $97,646,401,096
2002 $26,757,722,429 $92,538,372,870
2001 $23,066,883,850 $89,793,790,670
2000 $22,134,411,297 $96,076,539,926
1999 $23,777,026,779 $86,286,849,755
1998 $25,890,228,430 $85,728,207,782
1997 $24,175,764,812 $100,123,787,215
1996 $24,150,978,347 $96,293,086,513
1995 $22,772,394,547 $87,812,540,788
1994 $15,062,911,617 $73,688,724,431
1993 $11,259,647,874 $60,603,815,716
1992 $10,621,169,291 $52,131,320,033
1991 $18,760,386,775 $45,466,164,978
1990 $25,650,213,280 $36,144,336,769
1989 - $30,465,364,739
1988 - $25,371,462,488
1987 - $20,919,215,578
1986 - $18,586,746,057
1985 - $19,156,532,746
1984 - $19,749,361,098
1983 - $17,784,112,150
1982 - $16,084,252,378
1981 - $14,175,228,844
1980 - $11,896,256,783
1979 - $9,296,921,724
1978 - $7,517,176,355
1977 - $6,618,585,074
1976 - $6,327,077,974
1975 - $5,633,673,930
1974 - $5,221,534,956
1973 - $3,696,213,333
1972 - $2,721,440,981
1971 - $2,263,785,444
1970 - $1,920,574,150
1969 - $1,659,893,768
1968 - $1,425,706,091
1967 - $1,238,035,816
1966 - $1,096,425,608
1965 - $974,644,096
1964 - $894,153,311
1963 - $917,608,012
1962 - $826,239,212
1961 - $764,629,788
1960 - $704,751,700

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

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

GDP per capita in Croatia vs Singapore by year

Croatia
GDP per capita

GDP per capita, PPP
Singapore
GDP per capita

GDP per capita, PPP
1x
Year Current $
Croatia Singapore
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $24,050 $49,551 $90,674 $150,689
2023 $22,184 $47,760 $85,412 $143,786
2022 $18,466 $42,125 $90,299 $143,095
2021 $17,789 $36,930 $80,056 $132,617
2020 $14,808 $31,594 $61,410 $101,518
2019 $15,564 $33,064 $65,952 $105,335
2018 $15,460 $29,789 $66,882 $103,963
2017 $13,902 $27,888 $61,236 $95,744
2016 $12,820 $25,803 $57,006 $89,902
2015 $12,284 $23,750 $55,646 $87,156
2014 $14,187 $22,706 $57,565 $84,555
2013 $14,135 $22,430 $56,967 $83,088
2012 $13,508 $21,619 $55,548 $82,108
2011 $14,692 $21,191 $53,891 $80,052
2010 $13,730 $20,139 $47,237 $75,401
2009 $14,475 $20,358 $38,927 $66,213
2008 $15,888 $21,018 $40,009 $67,735
2007 $13,756 $19,568 $39,433 $68,805
2006 $11,501 $17,629 $33,768 $64,061
2005 $10,444 $15,451 $29,961 $58,822
2004 $9,719 $14,686 $27,608 $54,384
2003 $8,190 $13,692 $23,730 $48,778
2002 $6,220 $12,775 $22,160 $45,083
2001 $5,365 $11,653 $21,700 $43,109
2000 $4,954 $10,675 $23,853 $43,781
1999 $5,269 $9,943 $21,797 $39,949
1998 $5,713 $9,890 $21,829 $37,560
1997 $5,331 $9,536 $26,376 $39,286
1996 $5,300 $8,806 $26,233 $36,873
1995 $4,929 $8,052 $24,915 $35,090
1994 $3,238 $7,337 $21,552 $33,058
1993 $2,448 $6,861 $18,290 $30,062
1992 $2,321 $7,326 $16,136 $27,022
1991 $4,001 $7,918 $14,502 $25,530
1990 $5,369 $9,526 $11,862 $23,815
1989 - - $10,395 -
1988 - - $8,914 -
1987 - - $7,539 -
1986 - - $6,800 -
1985 - - $7,002 -
1984 - - $7,228 -
1983 - - $6,633 -
1982 - - $6,078 -
1981 - - $5,597 -
1980 - - $4,928 -
1979 - - $3,901 -
1978 - - $3,194 -
1977 - - $2,846 -
1976 - - $2,759 -
1975 - - $2,490 -
1974 - - $2,342 -
1973 - - $1,685 -
1972 - - $1,264 -
1971 - - $1,071 -
1970 - - $926 -
1969 - - $813 -
1968 - - $709 -
1967 - - $626 -
1966 - - $567 -
1965 - - $517 -
1964 - - $486 -
1963 - - $511 -
1962 - - $472 -
1961 - - $449 -
1960 - - $428 -

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

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

Croatia's GDP per capita is $24,050, ranking 50/197, compared to $90,674 in Singapore, ranking 7/197. Adjusted for purchasing power (GDP per capita PPP), Croatia ranks 46th at $49,551, while Singapore ranks 2nd at $150,689.

Economic indicators

Croatia Singapore
Gross domestic product
$93B
2024
$547B
2024
GDP rank
75/197
2024
28/197
2024
GDP growth
3.83%
2023-2024
4.39%
2023-2024
GDP per capita
$24,050
2024
$90,674
2024
GDP per capita rank
50/197
2024
7/197
2024
GDP per capita, PPP
$49,551
2024
$150,689
2024
GDP per capita PPP rank
46/197
2024
2/197
2024
Government debt
$53.5B
2024
$950B
2024
Debt-to-GDP ratio
57.6%
2024
173.5%
2024
Government debt per person
$13,844
2024
$157,326
2024
Government debt per person rank
42/185
2024
1/185
2024
Average annual personal income after taxes
$20,856
2026
$52,793
2026
Market capitalization of domestic companies
$27.8B
2024
$638B
2024
Number of millionaires n/a
331,000
2025
Number of billionaires
1
2025
49
2025
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
14.6%
2024
Consumer prices inflation
2.97%
2023-2024
2.39%
2023-2024
Unemployment rate
5.03%
2024
2.74%
2024
Population
3812193
6125852

Spending and national debt comparison by year

Croatia
Spending

Debt
Singapore
Spending

Debt
1x
Year % of GDP
Croatia Singapore
Government spending Government debt Government spending Government debt
2024 48% 57.6% 14.6% 173.5%
2023 46.8% 61.8% 14.8% 172.8%
2022 45% 68.5% 15% 154.3%
2021 48.1% 78.2% 15.6% 141.7%
2020 53.7% 86.5% 24.1% 148.2%
2019 44.3% 70.9% 14% 127.9%
2018 44.9% 72.8% 13.9% 109.4%
2017 44.1% 76.2% 13.6% 107.6%
2016 45.9% 79.3% 15.3% 106.3%
2015 47.5% 82.8% 14.4% 102.2%
2014 48.7% 83.2% 12.6% 97.7%
2013 47.9% 79.5% 10.9% 98.2%
2012 47.3% 68.9% 9.83% 106.7%
2011 48.6% 63.1% 9.66% 103.1%
2010 48.1% 56.8% 10.2% 98.7%
2009 49.2% 47.9% 15.9% 101.7%
2008 46.3% 38.9% 14% 97.9%
2007 46.3% 37.1% 9.01% 87.8%
2006 44.6% 38.4% 12.3% 86.5%
2005 46.5% 40.9% 12.4% 92.7%
2004 49% 40% 14.1% 95.7%
2003 49.6% 37.8% 15.6% 99.1%
2002 49.2% 36.5% 15.9% 96.3%
2001 50.6% 36.6% 18.2% 94.5%
2000 54.6% 35.4% 16.1% 82.3%
1999 58.9% 30% 15.9% 85.3%
1998 56.8% 23.3% 18.1% 84.6%
1997 51.7% 22.5% 14.5% 70.8%
1996 52.1% - 18.1% 71.3%
1995 50.3% - 13.8% 69.8%
1994 45.4% - 11.7% 70.7%
1993 36% - 14.5% 71.2%
1992 37.1% - 14.5% 79%
1991 - - 15.9% 76.4%
1990 - - 15.1% 73.5%

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/singapore | CC BY

In 2024, Croatia's government spending was $44.6B, accounting for 48% of its GDP, while Singapore spent $79.7B, or 14.6% of GDP.

Debt-to-GDP ratio is 57.6% in Croatia and 173.5% in Singapore, ranking 86/185 and 4/185, respectively.

Government deficit by year

Deficit/surplus
Croatia

Singapore
1x
Year Deficit/surplus, % of GDP
Croatia Singapore
2024 -1.95% 4.44%
2023 -0.79% 3.47%
2022 0.12% 1.21%
2021 -2.58% 1.13%
2020 -7.23% -6.73%
2019 2.31% 3.77%
2018 0.23% 3.68%
2017 0.8% 5.24%
2016 -1.04% 3.25%
2015 -3.53% 2.86%
2014 -5.19% 4.6%
2013 -5.52% 5.96%
2012 -5.46% 7.34%
2011 -7.53% 7.96%
2010 -6.46% 5.68%
2009 -7.15% -0.09%
2008 -2.34% 3.59%
2007 -2.28% 7.12%
2006 -2.01% 2.16%
2005 -3.24% 2.56%
2004 -6.09% 2.06%
2003 -5.03% 0.68%
2002 -4.9% 2.23%
2001 -4.79% 1.2%
2000 -9.2% 4.59%
1999 -11.1% 5.2%
1998 -6.36% 2.41%
1997 -4.93% 5.66%
1996 -4.41% 1.98%
1995 -4.23% 4.8%
1994 -0.82% 7.9%
1993 -2.67% 4.36%
1992 -5.69% 2.7%
1991 - 0.68%
1990 - 1.97%

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

GeoRank.org/economy/croatia/singapore | 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 Singapore's surplus of $24.3B, or 4.44% of GDP.

Over the past 33 years, Croatia recorded a fiscal deficit in 29 of those years, while Singapore ran a deficit in 2 years. On average, Croatia posted an annual deficit equal to 3.97% of GDP, compared to surplus of 3.48% of GDP for Singapore.

Inflation comparison by year

Inflation
Croatia

Singapore
1x
Year Consumer prices inflation
Croatia Singapore
2024 2.97% 2.39%
2023 7.94% 4.83%
2022 10.8% 6.13%
2021 2.55% 2.32%
2020 0.15% -0.17%
2019 0.77% 0.57%
2018 1.5% 0.44%
2017 1.13% 0.58%
2016 -1.12% -0.53%
2015 -0.46% -0.52%
2014 -0.22% 1.03%
2013 2.22% 2.36%
2012 3.41% 4.58%
2011 2.27% 5.25%
2010 1.03% 2.83%
2009 2.38% 0.59%
2008 6.08% 6.64%
2007 2.9% 2.11%
2006 3.19% 0.97%
2005 3.32% 0.43%
2004 2.06% 1.66%
2003 1.77% 0.51%
2002 1.67% -0.39%
2001 3.78% 1%
2000 4.61% 1.36%
1999 4.02% 0.02%
1998 6.4% -0.27%
1997 4.17% 2%

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

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

Over the past 28 years, Croatia has recorded an average annual inflation rate of 2.9%, compared with 1.74% in Singapore. In 2024, inflation was 2.97% in Croatia and 2.39% in Singapore.

Top exports between countries

Croatia
Export category Export value
Transport & tourism services $34.8M
Business & finance services $10.5M
IT & IP services $6.32M
Machinery & equipment $6M
Chemicals & pharma $4.79M
Precious metals & jewellery $3.42M
Metals $1.26M
Processed food, beverages & tobacco $1.22M
Manufacturing & construction services $828K
Raw materials & minerals $688K
Singapore
Export category Export value
Machinery & equipment $16.8M
Miscellaneous $5.6M
Processed food, beverages & tobacco $5.32M
Textiles & consumer goods $1.86M
Chemicals & pharma $1.51M
Metals $1.1M
Raw agricultural goods $869K
Wood & paper products $813K
Animal & marine products $60K
Raw materials & minerals $49K

Balance of trade

Croatia Singapore
Current account balance
-$1.05B
2024
$96B
2024
Current account balance ranking
125/190
2024
8/190
2024
Current account balance, % of GDP
-1.13%
2024
+17.5%
2024
Goods imports
$41.5B
2024
$435B
2024
Goods exports
$21.9B
2024
$583B
2024
Service imports
$8.35B
2024
$351B
2024
Service exports
$24.7B
2024
$396B
2024
Imports of goods and services, % of GDP
54.8%
2024
143.6%
2024
Exports of goods and services, % of GDP
50.1%
2024
178.8%
2024

Economic freedom indices

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

Croatia Singapore
Economic freedom 67.5 84.4
Economic freedom ranking 56/197 1/197
Property rights 81.1 89.2
Government integrity 52.6 86.1
Judicial effectiveness 71.7 58.3
Tax burden 70 89.5
Government spending 34.9 93.4
Fiscal health 92.2 80
Business freedom 79.6 90.6
Labor freedom 58.9 77
Monetary freedom 69.9 83.5
Trade freedom 79.4 95
Investment freedom 60 90
Financial freedom 60 80

Economic freedom comparison by year

Croatia
Singapore
1x
Year Economic freedom index
Croatia Singapore
2026 67.5 84.4
2025 68.7 84.1
2024 67.2 83.5
2023 66.4 83.9
2022 67.6 84.4
2021 63.6 89.7
2020 62.2 89.4
2019 61.4 89.4
2018 61 88.8
2017 59.4 88.6
2016 59.1 87.8
2015 61.5 89.4
2014 60.4 89.4
2013 61.3 88
2012 60.9 87.5
2011 61.1 87.2
2010 59.2 86.1
2009 55.1 87.1
2008 54.1 87.3
2007 53.4 87.1
2006 53.6 88
2005 51.9 88.6
2004 53.1 88.9
2003 53.3 88.2
2002 51.1 87.4
2001 50.7 87.8
2000 53.6 87.7
1999 53.1 86.9
1998 51.7 87
1997 46.7 87.3
1996 48 86.5
1995 - 86.3

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

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

The Economic Freedom Index for Croatia is 67.5, ranking 56/197, compared to 84.4 for Singapore, ranking 1/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Croatia Singapore
Services, % of GDP
60.8%
2024
73%
2024
Industry, % of GDP
19.2%
2024
21.4%
2024
Agriculture, forestry, and fishing, % of GDP
2.9%
2024
0.03%
2024
GNI, Atlas method
$86B
2024
$451B
2024
GNI per capita, PPP
$49,740
2024
$126,190
2024
Total reserves including gold
$3.34B
2024
$384B
2024
Total reserves ranking
116/177
2024
9/177
2024
Net foreign direct investment
-$1.88B
2024
-$96.7B
2024
Net inflows of foreign direct investment
$4.54B
2024
$152B
2024
Net outflows of foreign direct investment
$2.79B
2024
$55.3B
2024
Poverty at national poverty lines
20.3%
2023
n/a
Gross capital formation, % of GDP
24.4%
2024
22.2%
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/singapore | 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 (2021–2024, 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.