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Economy of Dominica vs Hungary compared: GDP & Debt

Updated on by Georank team

Dominica has a GDP of $689M compared to $223B for Hungary, ranking 190/197 and 55/197 by economy size, respectively.

Dominica has $713M in government debt (103.5% of GDP), compared to $164B (73.5% of GDP) in Hungary.

Dominica vs Hungary GDP by year

Dominica
Hungary
1x
Year GDP, current $
Dominica Hungary
2024 $688,881,481 $222,722,738,926
2023 $659,311,111 $213,240,316,635
2022 $623,062,963 $177,002,580,544
2021 $562,911,111 $183,282,685,440
2020 $528,944,444 $158,468,487,754
2019 $644,259,259 $164,936,682,034
2018 $628,244,444 $161,184,691,014
2017 $563,355,556 $143,335,098,992
2016 $612,711,111 $128,983,560,865
2015 $583,177,778 $125,244,126,623
2014 $572,255,556 $141,128,696,412
2013 $545,325,926 $135,646,053,779
2012 $520,355,556 $128,470,269,690
2011 $532,081,481 $141,712,804,954
2010 $519,859,259 $131,898,737,241
2009 $515,618,519 $130,807,441,076
2008 $480,003,704 $158,228,265,916
2007 $444,685,185 $140,123,326,896
2006 $416,674,074 $115,604,111,412
2005 $391,455,556 $113,098,237,571
2004 $396,711,111 $104,015,363,080
2003 $373,318,519 $85,190,469,121
2002 $375,200,000 $67,636,468,625
2001 $377,462,963 $53,800,068,066
2000 $333,470,370 $47,275,954,429
1999 $331,759,259 $49,160,204,397
1998 $322,411,111 $48,784,412,624
1997 $302,988,889 $47,398,564,799
1996 $292,285,185 $46,833,767,124
1995 $274,522,222 $46,577,614,589
1994 $264,374,074 $43,307,949,890
1993 $245,525,926 $40,256,233,360
1992 $234,059,259 $38,857,339,125
1991 $219,762,963 $34,867,307,353
1990 $201,429,630 $34,478,360,679
1989 $185,137,243 $30,422,508,938
1988 $171,106,184 $29,799,838,597
1987 $151,868,754 $27,232,016,527
1986 $135,161,959 $24,778,163,812
1985 $119,491,933 $21,510,643,750
1984 $109,157,071 $21,242,726,264
1983 $98,665,191 $21,910,365,258
1982 $89,527,577 $24,141,667,188
1981 $82,107,391 $23,705,883,892
1980 $72,804,653 $23,116,977,148
1979 $55,017,759 $19,959,731,325
1978 $57,130,216 $17,286,744,154
1977 $45,872,947 $14,783,674,055
1976 - $13,235,612,079
1975 - $11,420,392,515
1974 - $10,016,338,179
1973 - $9,138,292,402
1972 - $7,379,313,742
1971 - $6,291,568,221
1970 - $5,780,929,203
1969 - $5,429,812,387
1968 - $4,886,222,555

Data sources: World Bank | Economy & Growth (1968–2024, retrieved 2026-04-06).

GeoRank.org/economy/dominica/hungary | CC BY

GDP per capita in Dominica vs Hungary by year

Dominica
GDP per capita

GDP per capita, PPP
Hungary
GDP per capita

GDP per capita, PPP
1x
Year Current $
Dominica Hungary
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $10,405 $21,301 $23,292 $48,552
2023 $9,913 $20,286 $22,231 $46,592
2022 $9,324 $18,802 $18,428 $44,366
2021 $8,376 $15,809 $19,031 $38,887
2020 $7,828 $14,244 $16,387 $35,584
2019 $9,491 $16,021 $17,013 $35,627
2018 $9,215 $15,070 $16,605 $32,258
2017 $8,225 $12,696 $14,736 $29,728
2016 $8,803 $12,945 $13,216 $28,179
2015 $8,283 $12,093 $12,783 $26,938
2014 $8,132 $12,083 $14,353 $25,796
2013 $7,822 $11,286 $13,739 $24,592
2012 $7,529 $10,921 $12,950 $23,205
2011 $7,705 $11,123 $14,211 $22,992
2010 $7,550 $10,924 $13,190 $21,691
2009 $7,487 $10,804 $13,051 $20,691
2008 $6,971 $10,862 $15,763 $20,709
2007 $6,459 $9,949 $13,935 $19,089
2006 $6,056 $9,200 $11,478 $18,362
2005 $5,695 $8,557 $11,212 $17,091
2004 $5,779 $8,232 $10,291 $16,251
2003 $5,447 $7,714 $8,410 $15,460
2002 $5,488 $7,167 $6,658 $14,532
2001 $5,528 $7,291 $5,281 $13,223
2000 $4,867 $7,111 $4,630 $11,872
1999 $4,817 $6,759 $4,802 $10,892
1998 $4,664 $6,617 $4,752 $10,415
1997 $4,372 $6,290 $4,606 $9,846
1996 $4,211 $6,041 $4,542 $9,388
1995 $3,952 $5,749 $4,509 $9,222
1994 $3,805 $5,465 $4,187 $8,888
1993 $3,536 $5,352 $3,887 $8,441
1992 $3,376 $5,125 $3,747 $8,284
1991 $3,171 $4,914 $3,361 $8,352
1990 $2,893 $4,667 $3,324 $9,169
1989 $2,639 - $2,902 -
1988 $2,423 - $2,812 -
1987 $2,138 - $2,566 -
1986 $1,893 - $2,331 -
1985 $1,666 - $2,020 -
1984 $1,515 - $1,991 -
1983 $1,363 - $2,050 -
1982 $1,232 - $2,255 -
1981 $1,125 - $2,213 -
1980 $996 - $2,158 -
1979 $754 - $1,865 -
1978 $786 - $1,618 -
1977 $634 - $1,388 -
1976 - - $1,249 -
1975 - - $1,083 -
1974 - - $956 -
1973 - - $876 -
1972 - - $710 -
1971 - - $607 -
1970 - - $559 -
1969 - - $527 -
1968 - - $476 -

Data sources: World Bank | Economy & Growth (1968–2024, retrieved 2026-04-06).

GeoRank.org/economy/dominica/hungary | CC BY

Dominica's GDP per capita is $10,405, ranking 84/197, compared to $23,292 in Hungary, ranking 55/197. Adjusted for purchasing power (GDP per capita PPP), Dominica ranks 91st at $21,301, while Hungary ranks 48th at $48,552.

Economic indicators

Dominica Hungary
Gross domestic product
$689M
2024
$223B
2024
GDP rank
190/197
2024
55/197
2024
GDP growth
2.05%
2023-2024
0.56%
2023-2024
GDP per capita
$10,405
2024
$23,292
2024
GDP per capita rank
84/197
2024
55/197
2024
GDP per capita, PPP
$21,301
2024
$48,552
2024
GDP per capita PPP rank
91/197
2024
48/197
2024
Government debt
$713M
2024
$164B
2024
Debt-to-GDP ratio
103.5%
2024
73.5%
2024
Government debt per person
$10,765
2024
$17,109
2024
Government debt per person rank
55/185
2024
37/185
2024
Average annual personal income after taxes
$6,045
2026
$16,996
2026
Market capitalization of domestic companies n/a
$41.5B
2024
Number of millionaires n/a
24,692
2025
Number of billionaires n/a
4
2025
Income share by richest 10% n/a
24.4%
2022
Income share by poorest 10% n/a
2.8%
2022
Government expenditure, % of GDP
60.9%
2024
46.9%
2024
Consumer prices inflation
2.57%
2023-2024
3.7%
2023-2024
Central bank interest rate n/a
6.5%
2024
Unemployment rate
11%
2001
4.47%
2024
Population
65539
9475525

Spending and national debt comparison by year

Dominica
Spending

Debt
Hungary
Spending

Debt
1x
Year % of GDP
Dominica Hungary
Government spending Government debt Government spending Government debt
2024 60.9% 103.5% 46.9% 73.5%
2023 66.8% 103.2% 49.2% 73%
2022 72.7% 108.3% 48.7% 73.9%
2021 70.1% 113.6% 48.1% 76.2%
2020 70.1% 118.2% 51% 78.7%
2019 44% 89.1% 45.8% 65%
2018 66.7% 90% 45.9% 68.8%
2017 55.7% 86.7% 46.6% 72%
2016 45.8% 72.9% 46.7% 74.6%
2015 33.5% 71.1% 50.4% 75.7%
2014 33.3% 73.5% 50% 76.5%
2013 34.2% 75.6% 50.1% 77.2%
2012 36.6% 74% 49.2% 78.4%
2011 34.7% 68.6% 49.1% 80.5%
2010 39.7% 67.3% 48.9% 80.2%
2009 36.1% 62.8% 50.7% 78.2%
2008 35.9% 66.5% 48.8% 71.8%
2007 35.6% 74.9% 49.9% 65.6%
2006 30.9% 80.4% 51.4% 64.5%
2005 32.1% 84.9% 49.4% 60.6%
2004 30.1% 85.8% 48.8% 58.9%
2003 31.2% 98.2% 49.2% 58.2%
2002 29% 99.4% 51% 55.6%
2001 29.3% 97.5% 47.2% 52.2%
2000 38.9% 69.6% 47.3% 55.6%
1999 35.3% 62% 48.9% 60.3%
1998 33.5% 57.1% 50.7% 60.4%
1997 29.1% 49.3% 49.5% 62.2%
1996 29% 54.7% 50.9% 71.2%
1995 29.7% 59.3% 55% 83.9%
1994 27.7% 57% - 86.2%
1993 26.1% 55.4% - 87.2%
1992 28% 55.3% - 76.5%
1991 29.9% 58.7% - 74.2%
1990 32.9% 56.6% - 63.7%
1989 - - - 70.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1989–1994, retrieved 2026-02-20).

GeoRank.org/economy/dominica/hungary | CC BY

In 2024, Dominica's government spending was $420M, accounting for 60.9% of its GDP, while Hungary spent $104B, or 46.9% of GDP.

Debt-to-GDP ratio is 103.5% in Dominica and 73.5% in Hungary, ranking 20/185 and 49/185, respectively.

Government deficit by year

Deficit/surplus
Dominica

Hungary
1x
Year Deficit/surplus, % of GDP
Dominica Hungary
2024 -2.28% -4.92%
2023 -4.66% -6.75%
2022 -7.49% -6.17%
2021 -8.61% -7.11%
2020 -7.91% -7.49%
2019 -7.95% -2.02%
2018 -18.1% -2.05%
2017 -3.37% -2.45%
2016 11% -1.79%
2015 11.8% -2%
2014 -5.65% -2.77%
2013 -2.95% -2.6%
2012 -5.48% -2.33%
2011 -4.34% -5.22%
2010 -3.41% -4.44%
2009 -0.31% -4.76%
2008 0.72% -3.78%
2007 1.88% -5.09%
2006 3.04% -9.27%
2005 0.98% -7.79%
2004 -0.67% -6.6%
2003 0.88% -7.19%
2002 -4.13% -8.79%
2001 -6.48% -4%
2000 -8.75% -3.04%
1999 -9.2% -5.27%
1998 -6.08% -7.41%
1997 -2.31% -5.54%
1996 -1.62% -4.36%
1995 -2.97% -8.57%
1994 -3.42% -
1993 -1.46% -
1992 -2.28% -
1991 -3.08% -
1990 -4.87% -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -
1980 - -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -0.17%
1942 - 0.31%
1941 - 0.2%
1940 - -0.07%
1939 - 0.19%
1938 - -0.11%
1937 - -0.01%
1936 - 0.08%
1935 - 0.03%
1934 - 0.04%
1933 - -0.03%
1932 - -0.22%
1931 - -0.32%
1930 - -0.26%
1929 - 0.02%
1928 - 0.12%
1927 - 0.15%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1927–1943, retrieved 2026-02-20).

GeoRank.org/economy/dominica/hungary | CC BY

In 2024, Dominica's government deficit, the difference between spending and revenue, was $15.7M, equivalent to 2.28% of GDP. This compares to Hungary's deficit of $10.9B, or 4.92% of GDP.

Over the past 30 years, Dominica recorded a fiscal deficit in 23 of those years, while Hungary ran a deficit in 30 years. On average, Dominica posted an annual deficit equal to 3.15% of GDP, compared to deficit of 5.05% of GDP for Hungary.

Inflation comparison by year

Inflation
Dominica

Hungary
1x
Year Consumer prices inflation
Dominica Hungary
2024 2.57% 3.7%
2023 5.09% 17.1%
2022 2.88% 14.6%
2021 2.23% 5.11%
2020 1.22% 3.33%
2019 1.5% 3.34%
2018 0.99% 2.85%
2017 0.3% 2.35%
2016 0.14% 0.39%
2015 -0.84% -0.06%
2014 0.8% -0.23%
2013 -0.05% 1.73%
2012 1.36% 5.65%
2011 1.13% 3.93%
2010 3% 4.86%
2009 0.006% 4.21%
2008 6.36% 6.04%
2007 3.63% 7.96%
2006 2.2% 3.93%
2005 1.68% 3.56%
2004 2.39% 6.74%
2003 1.45% 4.66%
2002 0.17% 5.27%
2001 1.3% 9.12%
2000 0.86% 9.8%
1999 1.18% 10%
1998 1% 14.2%
1997 2.44% 18.3%

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

GeoRank.org/economy/dominica/hungary | CC BY

Over the past 28 years, Dominica has recorded an average annual inflation rate of 1.68%, compared with 6.16% in Hungary. In 2024, inflation was 2.57% in Dominica and 3.7% in Hungary.

Top exports between countries

Dominica
Export category Export value
Hungary
Export category Export value
Machinery & equipment $571K
Processed food, beverages & tobacco $139K
Chemicals & pharma $128K
Animal & marine products $107K
Textiles & consumer goods $80K
Raw agricultural goods $79K
Raw materials & minerals $33K

Balance of trade

Dominica Hungary
Current account balance
-$160M
2024
$3.52B
2024
Current account balance ranking
94/190
2024
36/190
2024
Current account balance, % of GDP
-23.2%
2024
+1.58%
2024
Goods imports
$231M
2024
$130B
2024
Goods exports
$22M
2024
$129B
2024
Service imports
$157M
2024
$27.9B
2024
Service exports
$191M
2024
$38.9B
2024
Imports of goods and services, % of GDP n/a
71.1%
2024
Exports of goods and services, % of GDP
8.5%
2025
75.4%
2024

Economic freedom indices

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

Dominica Hungary
Economic freedom 56.1 62.5
Economic freedom ranking 124/197 86/197
Property rights 65.8 67.3
Government integrity 61.2 44
Judicial effectiveness 77.3 61.9
Tax burden 76.1 85.1
Government spending 0 30.2
Fiscal health 45.6 32.7
Business freedom 66.2 70.8
Labor freedom 49.8 56.5
Monetary freedom 77.7 72.1
Trade freedom 53.2 79.4
Investment freedom 60 80
Financial freedom 40 70

Economic freedom comparison by year

Dominica
Hungary
1x
Year Economic freedom index
Dominica Hungary
2026 56.1 62.5
2025 55.3 61.4
2024 54 61.2
2023 59.7 64.1
2022 54.4 66.9
2021 53 67.2
2020 60.8 66.4
2019 63.6 65
2018 64.5 66.7
2017 63.7 65.8
2016 67 66
2015 66.1 66.8
2014 65.2 67
2013 63.9 67.3
2012 61.6 67.1
2011 63.3 66.6
2010 63.2 66.1
2009 62.6 66.8
2008 - 67.6
2007 - 64.8
2006 - 65
2005 - 63.5
2004 - 62.7
2003 - 63
2002 - 64.5
2001 - 65.6
2000 - 64.4
1999 - 59.6
1998 - 56.9
1997 - 55.3
1996 - 56.8
1995 - 55.2

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

GeoRank.org/economy/dominica/hungary | CC BY

The Economic Freedom Index for Dominica is 56.1, ranking 124/197, compared to 62.5 for Hungary, ranking 86/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Dominica Hungary
Services, % of GDP
56.9%
2024
59.5%
2024
Industry, % of GDP
13.9%
2024
23.7%
2024
Agriculture, forestry, and fishing, % of GDP
12.2%
2024
2.71%
2024
GNI, Atlas method
$677M
2024
$199B
2024
GNI per capita, PPP
$21,410
2024
$47,290
2024
Total reserves including gold
$156M
2024
$46.4B
2024
Total reserves ranking
172/177
2024
42/177
2024
Net foreign direct investment
-$36.4M
2024
-$15.8B
2024
Net inflows of foreign direct investment
$60M
2024
-$62.2B
2024
Net outflows of foreign direct investment
-$401K
2024
-$78B
2024
Servicing debt to the IMF, % of GNI
9.52%
2024
n/a
Poverty at national poverty lines
29%
2020
12.1%
2021
Gross capital formation, % of GDP n/a
23.5%
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/dominica/hungary | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1968–2024, 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. International Monetary Fund (IMF) | Public Finances in Modern History (1927–1994, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2020–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, 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.

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.