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Economy of Eritrea vs Nicaragua compared: GDP & Debt

Updated on by Georank team

Eritrea has a GDP of $2.07B compared to $19.7B for Nicaragua, ranking 179/197 and 131/197 by economy size, respectively.

Eritrea has $3.54B in government debt (260.4% of GDP), compared to $7.71B (39.1% of GDP) in Nicaragua.

Eritrea vs Nicaragua GDP by year

Eritrea
Nicaragua
1x
Year GDP, current $
Eritrea Nicaragua
2024 - $19,693,982,968
2023 - $17,805,842,284
2022 - $15,634,572,502
2021 - $14,209,020,362
2020 - $12,726,422,432
2019 - $12,699,023,614
2018 - $13,025,221,974
2017 - $13,785,893,007
2016 - $13,286,093,388
2015 - $12,756,696,261
2014 - $11,880,438,824
2013 - $10,982,988,249
2012 - $10,532,017,232
2011 $2,065,001,626 $9,774,329,333
2010 $1,589,515,447 $8,758,602,233
2009 $1,856,695,551 $8,298,702,489
2008 $1,380,188,800 $8,496,967,597
2007 $1,317,974,491 $7,423,375,015
2006 $1,211,161,880 $6,763,672,381
2005 $1,098,424,686 $6,321,324,279
2004 $1,109,054,005 $5,792,932,838
2003 $870,248,268 $5,322,228,351
2002 $729,321,680 $5,223,727,303
2001 $752,371,689 $5,351,752,034
2000 $706,370,816 $5,109,587,050
1999 $688,918,537 $4,856,026,259
1998 $745,523,117 $4,635,347,386
1997 $686,490,090 $4,389,973,490
1996 $693,535,954 $4,308,351,903
1995 $578,015,625 $4,140,470,000
1994 $531,688,312 $3,863,185,119
1993 $467,872,715 $1,756,454,248
1992 $477,101,652 $1,792,800,000
1991 - $1,488,804,124
1990 - $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/eritrea/nicaragua | CC BY

GDP per capita in Eritrea vs Nicaragua by year

Eritrea
GDP per capita

GDP per capita, PPP
Nicaragua
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eritrea Nicaragua
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $2,848 $8,709
2023 - - $2,609 $8,320
2022 - - $2,323 $7,797
2021 - - $2,138 $7,119
2020 - - $1,938 $6,274
2019 - - $1,959 $5,981
2018 - - $2,035 $5,935
2017 - - $2,183 $6,225
2016 - - $2,132 $5,882
2015 - - $2,074 $5,449
2014 - - $1,958 $5,068
2013 - - $1,835 $4,711
2012 - - $1,785 $4,508
2011 $689 $1,742 $1,680 $4,325
2010 $540 $1,599 $1,527 $4,042
2009 $643 $1,577 $1,467 $3,880
2008 $490 $1,547 $1,524 $4,044
2007 $480 $1,727 $1,350 $3,891
2006 $448 $1,682 $1,248 $3,658
2005 $413 $1,674 $1,183 $3,456
2004 $427 $1,621 $1,099 $3,255
2003 $349 $1,621 $1,021 $3,046
2002 $305 $1,702 $1,014 $2,948
2001 $325 $1,684 $1,052 $2,917
2000 $314 $1,558 $1,017 $2,806
1999 $311 $1,597 $980 $2,672
1998 $342 $1,598 $949 $2,497
1997 $319 $1,573 $913 $2,418
1996 $326 $1,449 $911 $2,325
1995 $285.4 $1,369 $892 $2,187
1994 $277.8 $1,379 $849 $2,064
1993 $252.1 $1,149 $394 $1,998
1992 $265.2 $1,021 $411 $2,003
1991 - - $350 $1,995
1990 - - $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/eritrea/nicaragua | CC BY

Eritrea's GDP per capita is $689, ranking 188/197, compared to $2,848 in Nicaragua, ranking 141/197. Adjusted for purchasing power (GDP per capita PPP), Eritrea ranks 191st at $1,742, while Nicaragua ranks 138th at $8,709.

Economic indicators

Eritrea Nicaragua
Gross domestic product
$2.07B
2011
$19.7B
2024
GDP rank
179/197
2011
131/197
2024
GDP growth
8.68%
2010-2011
3.59%
2023-2024
GDP per capita
$689
2011
$2,848
2024
GDP per capita rank
188/197
2011
141/197
2024
GDP per capita, PPP
$1,742
2011
$8,709
2024
GDP per capita PPP rank
191/197
2011
138/197
2024
Government debt
$3.54B
2011
$7.71B
2024
Debt-to-GDP ratio
260.4%
2019
39.1%
2024
Government debt per person
$1,182
2011
$1,115
2024
Government debt per person rank
136/185
2011
138/185
2024
Average annual personal income after taxes
$1,129
2026
$2,318
2026
Income share by richest 10% n/a
37.2%
2014
Income share by poorest 10% n/a
2%
2014
Government expenditure, % of GDP
31.3%
2019
27.1%
2024
Consumer prices inflation
1.3%
2018-2019
4.6%
2023-2024
Central bank interest rate n/a
6%
2025
Unemployment rate
5.8%
2017
5.2%
2018
Population
3700586
7124343

Spending and national debt comparison by year

Eritrea
Spending

Debt
Nicaragua
Spending

Debt
1x
Year % of GDP
Eritrea Nicaragua
Government spending Government debt Government spending Government debt
2024 - - 27.1% 39.1%
2023 - - 26% 42.3%
2022 - - 28.6% 45.9%
2021 - - 30% 48.4%
2020 - - 28.9% 49.2%
2019 31.3% 260.4% 27.7% 44.2%
2018 26.4% 267.1% 27.7% 39.1%
2017 42.5% 290.4% 27.3% 34.7%
2016 30.9% 251.2% 26.8% 30.9%
2015 31.1% 271.4% 25.4% 28.9%
2014 21.6% 204.5% 24.6% 28.7%
2013 32.7% 232.4% 24.2% 28.8%
2012 33.3% 171.6% 24.1% 27.9%
2011 32.3% 171.6% 23.5% 28.8%
2010 42.4% 201.8% 22.6% 30.3%
2009 44.9% 207.1% 22.7% 29.3%
2008 69.4% 259.7% 21.9% 26%
2007 51.2% 201.3% 21.5% 30.9%
2006 50.5% 199% 21.4% 51.2%
2005 76.6% 205.4% 21.3% 66.6%
2004 57.1% 193.5% 20.8% 84%
2003 58.1% 264% 20.9% 109.5%
2002 60.1% 243.4% 18.7% 110.4%
2001 59.5% 238.6% 19.2% 87.5%
2000 84.7% 219.1% 20.6% 95.2%
1999 106.1% - 22.1% 99.8%
1998 88% - 18.5% 86.5%
1997 60.1% - 17.9% 86.4%
1996 68.6% - 18% -
1995 81.2% - 17.7% -
1994 50.4% - 18.4% -
1993 67.2% - 18.4% -
1992 32.7% - 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/eritrea/nicaragua | CC BY

In 2024, Eritrea's government spending was $666M, accounting for 31.3% of its GDP, while Nicaragua spent $5.34B, or 27.1% of GDP.

Debt-to-GDP ratio is 260.4% in Eritrea and 39.1% in Nicaragua, ranking 2/185 and 136/185, respectively.

Government deficit by year

Deficit/surplus
Eritrea

Nicaragua
1x
Year Deficit/surplus, % of GDP
Eritrea Nicaragua
2024 - 2.48%
2023 - 2.31%
2022 - 0.65%
2021 - -1.26%
2020 - -2.57%
2019 2.72% -1.12%
2018 5.22% -4.35%
2017 -5.74% -1.75%
2016 -1.44% -1.92%
2015 -2.77% -1.64%
2014 -0.12% -0.89%
2013 -7.62% -0.3%
2012 -5.21% 0.22%
2011 -5.5% 0.59%
2010 -16.5% 0.69%
2009 -22.2% -0.9%
2008 -38% 0.27%
2007 -19.8% 1.88%
2006 -15.5% 1.36%
2005 -31% 1.72%
2004 -7.65% 1.69%
2003 6.23% 1.3%
2002 -13.3% 2.07%
2001 -9.62% 0.34%
2000 -25.4% 2.15%
1999 -59.7% -6.86%
1998 -40.3% -2.88%
1997 -5.65% -3.31%
1996 -18.4% -5%
1995 -22.9% -4.62%
1994 8.69% -5.79%
1993 4.22% -4.66%
1992 6.85% -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/eritrea/nicaragua | CC BY

In 2011, Eritrea's government deficit, the difference between spending and revenue, was $114M, equivalent to 5.5% of GDP. This compares to Nicaragua's surplus of $57.8M, or 0.59% of GDP.

Over the past 20 years, Eritrea recorded a fiscal deficit in 16 of those years, while Nicaragua ran a deficit in 9 years. On average, Eritrea posted an annual deficit equal to 16.3% of GDP, compared to deficit of 1.19% of GDP for Nicaragua.

Inflation comparison by year

Inflation
Eritrea

Nicaragua
1x
Year Consumer prices inflation
Eritrea Nicaragua
2024 - 4.6%
2023 - 8.4%
2022 - 10.5%
2021 - 4.9%
2020 - 3.7%
2019 1.3% 5.4%
2018 -14.4% 4.9%
2017 -13.3% 3.9%
2016 -5.6% 3.5%
2015 28.5% 4%
2014 8.4% 6%
2013 6.3% 7.1%
2012 6% 7.2%
2011 5.9% 8.1%
2010 10.3% 5.5%
2009 33.9% 3.7%
2008 22.2% 19.8%
2007 9.4% 11.1%
2006 7.7% 9.1%
2005 12.5% 9.6%
2004 25.1% 8.5%
2003 22.7% 5.3%
2002 16.9% 3.8%
2001 14.6% 7.4%
2000 19.9% 11.5%
1999 8.4% 11.2%
1998 9.5% 13%
1997 3.7% 9.2%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

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

Over the past 23 years, Eritrea has recorded an average annual inflation rate of 10.4%, compared with 7.77% in Nicaragua. In 2019, inflation was 1.3% in Eritrea and 4.6% in Nicaragua.

Balance of trade

Eritrea Nicaragua
Current account balance
-$105M
2000
$818M
2024
Current account balance ranking
89/190
2000
55/190
2024
Current account balance, % of GDP
-14.8%
2000
+4.15%
2024
Goods imports
$471M
2000
$10.1B
2024
Goods exports
$36.8M
2000
$6.84B
2024
Service imports
$28.5M
2000
$1.31B
2024
Service exports
$60.9M
2000
$1.3B
2024
Imports of goods and services, % of GDP
29.2%
2011
58.1%
2024
Exports of goods and services, % of GDP
18.2%
2011
40.5%
2024

Economic freedom indices

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

Eritrea Nicaragua
Economic freedom 39.6 53.6
Economic freedom ranking 188/197 139/197
Property rights 4.8 23.8
Government integrity 10.9 13.4
Judicial effectiveness 5.5 8.8
Tax burden 80.3 74.5
Government spending 62.3 77.7
Fiscal health 69 96.9
Business freedom 30.7 54.4
Labor freedom 43.4 47.3
Monetary freedom 80 69.4
Trade freedom 68.4 67
Investment freedom 0 60
Financial freedom 20 50

Economic freedom comparison by year

Eritrea
Nicaragua
1x
Year Economic freedom index
Eritrea Nicaragua
2026 39.6 53.6
2025 38.6 54
2024 39.5 53.4
2023 39.5 54.9
2022 39.7 54.8
2021 42.3 56.3
2020 38.5 57.2
2019 38.9 57.7
2018 41.7 58.9
2017 42.2 59.2
2016 42.7 58.6
2015 38.9 57.6
2014 38.5 58.4
2013 36.3 56.6
2012 36.2 57.9
2011 36.7 58.8
2010 35.3 58.3
2009 38.5 59.8
2008 - 60.8
2007 - 62.7
2006 - 63.8
2005 - 62.5
2004 - 61.4
2003 - 62.6
2002 - 61.1
2001 - 58
2000 - 56.9
1999 - 54
1998 - 53.8
1997 - 53.3
1996 - 54.1
1995 - 42.5

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

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

The Economic Freedom Index for Eritrea is 39.6, ranking 188/197, 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

Eritrea Nicaragua
Services, % of GDP n/a
46.8%
2024
Industry, % of GDP
21.8%
2009
27.6%
2024
Agriculture, forestry, and fishing, % of GDP
14.1%
2009
14.4%
2024
GNI, Atlas method
$1.94B
2011
$17.4B
2024
GNI per capita, PPP
$1,720
2011
$8,270
2024
Total reserves including gold
$192M
2019
$6.1B
2024
Total reserves ranking
170/177
2019
91/177
2024
Net foreign direct investment
-$27.9M
2000
-$1.28B
2024
Net inflows of foreign direct investment
-$27.9M
2024
$1.35B
2024
Net outflows of foreign direct investment
$0
2024
$73.8M
2024
Servicing debt to the IMF, % of GNI
1.07%
2011
9.74%
2024
Poverty at national poverty lines
50%
2020
24.9%
2016
Gross capital formation, % of GDP
12.6%
2011
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/eritrea/nicaragua | 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 (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. Central Intelligence Agency (CIA) (2017–2020, retrieved 2026-02-20)
  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.