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Economy of Croatia vs Singapore compared: GDP & Debt

Updated on by Georank

Croatia has a GDP of $105B compared to $604B for Singapore, ranking 73/197 and 28/197 by economy size, respectively.

Croatia has $58.7B in government debt (55.9% of GDP), compared to $1.03T (171.3% of GDP) in Singapore.

Croatia vs Singapore GDP by year

Croatia
Singapore
1x
Year GDP, current $
Croatia Singapore
2025 $105,060,182,186 $603,869,516,999
2024 $92,981,894,168 $572,877,260,178
2023 $85,621,337,533 $511,181,761,244
2022 $71,196,460,237 $514,252,535,239
2021 $69,002,262,505 $441,110,903,525
2020 $57,959,824,238 $351,226,533,656
2019 $61,467,261,345 $376,827,390,962
2018 $61,668,280,700 $377,976,367,877
2017 $56,182,225,079 $344,795,119,214
2016 $52,650,804,052 $320,759,207,439
2015 $50,999,271,059 $307,998,545,269
2014 $59,607,109,597 $314,863,580,758
2013 $59,846,869,999 $307,576,360,585
2012 $57,547,495,860 $295,092,888,077
2011 $62,889,150,894 $279,356,499,090
2010 $58,975,127,201 $239,807,980,591
2009 $62,315,450,611 $194,150,283,772
2008 $68,473,103,477 $193,617,323,539
2007 $59,290,547,254 $180,941,701,358
2006 $49,583,643,048 $148,627,286,361
2005 $45,012,776,906 $127,807,848,728
2004 $41,836,096,243 $115,033,593,101
2003 $35,244,797,329 $97,646,401,096
2002 $26,757,633,353 $92,538,372,870
2001 $23,067,071,478 $89,793,790,670
2000 $22,134,069,750 $96,076,539,926
1999 $23,776,940,769 $86,286,849,755
1998 $25,889,813,449 $85,728,207,782
1997 $24,175,272,572 $100,123,787,215
1996 $24,151,469,717 $96,293,086,513
1995 $22,772,224,146 $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 (1960–2025, retrieved 2026-07-08).

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
2025 $27,104 - $98,814 -
2024 $24,050 $49,551 $94,897 $150,689
2023 $22,183 $47,760 $86,383 $143,786
2022 $18,466 $42,125 $91,228 $143,095
2021 $17,789 $36,930 $80,885 $132,617
2020 $14,808 $31,594 $61,773 $101,518
2019 $15,564 $33,064 $66,069 $105,335
2018 $15,460 $29,789 $67,033 $103,963
2017 $13,902 $27,888 $61,436 $95,744
2016 $12,820 $25,803 $57,204 $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 $10,443 $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 $5,712 $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 (1960–2025, retrieved 2026-07-08).

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

Croatia's GDP per capita is $27,104, ranking 49/197, compared to $98,814 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
$105B
2025
$604B
2025
GDP rank
73/197
2025
28/197
2025
GDP growth
3.4%
2024-2025
5.03%
2024-2025
GDP per capita
$27,104
2025
$98,814
2025
GDP per capita rank
49/197
2025
7/197
2025
GDP per capita, PPP
$49,551
2024
$150,689
2024
GDP per capita PPP rank
46/197
2024
2/197
2024
Government debt
$58.7B
2025
$1.03T
2025
Debt-to-GDP ratio
55.9%
2025
171.3%
2025
Government debt per person
$15,144
2025
$169,228
2025
Government debt per person rank
44/185
2025
1/185
2025
Average annual personal income after taxes
$20,376
2026
$51,296
2026
Market capitalization of domestic companies
$37.9B
2025
$824B
2025
Number of millionaires n/a
244,000
2026
Number of billionaires
1
2026
55
2026
Income share by richest 10%
23.3%
2023
n/a
Income share by poorest 10%
2.9%
2023
n/a
Government expenditure, % of GDP
49.3%
2025
15.5%
2025
Consumer prices inflation
3.69%
2024-2025
0.9%
2024-2025
Unemployment rate
4.9%
2025
3.26%
2025
Population
3849788
6167445

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
2025 49.3% 55.9% 15.5% 171.3%
2024 48% 57.4% 14.3% 166%
2023 46.3% 60.9% 14.6% 170.4%
2022 45% 68.5% 14.9% 153.3%
2021 48.2% 78.2% 15.4% 139.9%
2020 53.8% 86.5% 24% 147.1%
2019 44.4% 70.9% 14% 127.7%
2018 45% 72.8% 13.9% 109.2%
2017 44.1% 76.2% 13.6% 107.3%
2016 45.9% 79.3% 15.2% 105.9%
2015 47.6% 82.8% 14.4% 102.1%
2014 48.7% 83.2% 12.6% 97.7%
2013 48% 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 48.2% 56.8% 10.2% 98.7%
2009 49.3% 47.9% 15.9% 101.7%
2008 46.3% 38.9% 14% 97.9%
2007 46.4% 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 35.9% - 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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1997, retrieved 2026-07-08).

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

In 2025, Croatia's government spending was $51.8B, accounting for 49.3% of its GDP, while Singapore spent $93.3B, or 15.5% of GDP.

Debt-to-GDP ratio is 55.9% in Croatia and 171.3% in Singapore, ranking 87/185 and 5/185, respectively.

Government deficit by year

Deficit/surplus
Croatia

Singapore
1x
Year Deficit/surplus, % of GDP
Croatia Singapore
2025 -2.89% 4.16%
2024 -1.95% 3.79%
2023 -0.79% 3.42%
2022 0.14% 1.2%
2021 -2.57% 1.11%
2020 -7.24% -6.68%
2019 2.32% 3.76%
2018 0.22% 3.67%
2017 0.81% 5.23%
2016 -1.04% 3.24%
2015 -3.53% 2.86%
2014 -5.19% 4.6%
2013 -5.51% 5.96%
2012 -5.46% 7.34%
2011 -7.51% 7.96%
2010 -6.45% 5.68%
2009 -7.15% -0.09%
2008 -2.33% 3.59%
2007 -2.27% 7.12%
2006 -2% 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 (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/croatia/singapore | 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 Singapore's surplus of $25.1B, or 4.16% of GDP.

Over the past 34 years, Croatia recorded a fiscal deficit in 30 of those years, while Singapore ran a deficit in 2 years. On average, Croatia posted an annual deficit equal to 3.94% 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
2025 3.69% 0.9%
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 (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Croatia has recorded an average annual inflation rate of 2.93%, compared with 1.71% in Singapore. In 2025, inflation was 3.69% in Croatia and 0.9% in Singapore.

Top exports between countries

Croatia
Export category Export value
Transport & tourism services $19.5M
Business & finance services $14.1M
IT & IP services $9.73M
Machinery & equipment $6.38M
Precious metals & jewellery $3.21M
Chemicals & pharma $1.56M
Metals $701K
Processed food, beverages & tobacco $657K
Textiles & consumer goods $427K
Raw materials & minerals $318K
Singapore
Export category Export value
Machinery & equipment $54.4M
Miscellaneous $8.82M
Processed food, beverages & tobacco $2.17M
Textiles & consumer goods $1.41M
Metals $1.12M
Wood & paper products $1.07M
Raw agricultural goods $812K
Chemicals & pharma $625K
Raw materials & minerals $69K
Animal & marine products $46K

Balance of trade

Croatia Singapore
Current account balance
-$1.93B
2024
$101B
2025
Current account balance ranking
141/190
2024
8/190
2025
Current account balance, % of GDP
-2.08%
2024
+16.7%
2025
Goods imports
$42.5B
2024
$475B
2025
Goods exports
$21.9B
2024
$652B
2025
Service imports
$8.42B
2024
$385B
2025
Service exports
$24.8B
2024
$422B
2025
Imports of goods and services, % of GDP
53%
2025
142.5%
2025
Exports of goods and services, % of GDP
48%
2025
177.9%
2025

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 2026-07-08).

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
60.9%
2025
71.6%
2025
Industry, % of GDP
19%
2025
22.7%
2025
Agriculture, forestry, and fishing, % of GDP
2.83%
2025
0.02%
2025
GNI, Atlas method
$98.3B
2025
$500B
2025
GNI per capita, PPP
$50,410
2025
$135,750
2025
Total reserves including gold
$4.22B
2025
$432B
2025
Total reserves ranking
110/177
2025
11/177
2025
Net foreign direct investment
-$1.74B
2024
-$64.9B
2025
Net inflows of foreign direct investment
$4.54B
2024
$135B
2024
Net outflows of foreign direct investment
$2.79B
2024
$63.6B
2024
Poverty at national poverty lines
20.3%
2024
n/a
Gross capital formation, % of GDP
24.6%
2025
22.5%
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/singapore | 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. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2023–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)
  8. International Monetary Fund (IMF) | Public Finances in Modern History (1997, 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.

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.