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Economy of Grenada vs Iran compared: GDP & Debt

Updated on by Georank

Grenada has a GDP of $1.42B compared to $363B for Iran, ranking 184/197 and 44/197 by economy size, respectively.

Grenada has $1.02B in government debt (71.6% of GDP), compared to $135B (37.3% of GDP) in Iran.

Grenada vs Iran GDP by year

Grenada
Iran
1x
Year GDP, current $
Grenada Iran
2025 $1,420,173,229 $362,682,115,433
2024 $1,351,270,370 $475,252,089,215
2023 $1,336,418,519 $457,510,482,317
2022 $1,224,007,407 $422,662,261,526
2021 $1,122,222,222 $407,350,685,583
2020 $1,043,411,111 $280,934,329,280
2019 $1,213,485,185 $347,988,400,958
2018 $1,166,514,815 $411,903,303,606
2017 $1,125,685,185 $510,239,893,418
2016 $1,061,640,741 $478,618,064,871
2015 $997,007,407 $409,191,686,497
2014 $911,496,296 $462,284,793,281
2013 $842,618,519 $500,399,839,840
2012 $799,881,481 $644,019,315,004
2011 $778,655,556 $629,082,257,472
2010 $771,014,815 $487,069,570,464
2009 $771,275,556 $414,059,094,949
2008 $825,976,037 $406,070,949,554
2007 $758,683,593 $349,736,591,832
2006 $698,700,667 $265,602,187,404
2005 $695,555,556 $224,970,371,325
2004 $599,118,593 $187,754,571,248
2003 $591,018,407 $151,911,222,119
2002 $540,336,926 $128,626,917,504
2001 $520,444,185 $126,878,750,296
2000 $520,044,370 $109,591,707,802
1999 $482,009,370 $113,848,450,088
1998 $445,903,593 $110,276,913,363
1997 $392,190,593 $113,919,163,421
1996 $366,911,444 $120,403,931,885
1995 $342,172,519 $96,419,225,744
1994 $325,111,815 $71,841,461,173
1993 $309,812,185 $63,743,623,232
1992 $310,160,444 $119,768,691,217
1991 $300,757,889 $131,637,664,958
1990 $278,098,763 $124,813,263,926
1989 $267,327,642 $120,496,362,916
1988 $236,357,524 $123,057,861,334
1987 $215,009,570 $134,009,995,923
1986 $187,589,523 $209,094,561,833
1985 $167,728,455 $180,183,629,600
1984 $145,533,311 $162,276,728,620
1983 $131,803,552 $156,365,156,618
1982 $125,435,590 $125,948,756,439
1981 $115,651,919 $100,499,312,750
1980 $110,900,457 $94,362,275,580
1979 $102,244,362 $90,391,877,326
1978 $88,322,386 $77,994,316,621
1977 $71,494,495 $80,600,122,702
1976 - $68,055,295,081
1975 - $51,776,222,350
1974 - $46,209,092,072
1973 - $27,081,698,250
1972 - $17,153,463,263
1971 - $13,731,802,833
1970 - $10,976,245,154
1969 - $9,743,089,607
1968 - $8,623,172,960
1967 - $7,555,383,690
1966 - $6,789,938,672
1965 - $6,197,319,929
1964 - $5,379,845,648
1963 - $4,928,628,018
1962 - $4,693,566,416
1961 - $4,426,949,095
1960 - $4,199,134,390

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

GeoRank.org/economy/grenada/iran | CC BY

GDP per capita in Grenada vs Iran by year

Grenada
GDP per capita

GDP per capita, PPP
Iran
GDP per capita

GDP per capita, PPP
1x
Year Current $
Grenada Iran
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $12,107 - $3,924 -
2024 $11,529 $20,178 $5,190 $19,874
2023 $11,414 $18,971 $5,049 $18,917
2022 $10,469 $17,544 $4,721 $17,546
2021 $9,617 $15,290 $4,605 $15,884
2020 $8,969 $14,361 $3,203 $15,119
2019 $10,463 $16,446 $3,997 $13,928
2018 $10,083 $15,975 $4,783 $15,324
2017 $9,751 $15,041 $6,001 $15,719
2016 $9,221 $13,978 $5,711 $15,195
2015 $8,694 $13,214 $4,953 $14,274
2014 $7,986 $12,229 $5,672 $16,065
2013 $7,425 $11,199 $6,223 $16,215
2012 $7,093 $10,575 $8,114 $17,021
2011 $6,947 $10,592 $8,026 $19,275
2010 $6,910 $10,344 $6,291 $18,628
2009 $6,933 $10,303 $5,416 $17,615
2008 $7,448 $11,001 $5,377 $17,549
2007 $6,865 $10,728 $4,688 $17,384
2006 $6,344 $9,877 $3,619 $15,907
2005 $6,339 $10,016 $3,132 $15,016
2004 $5,480 $8,606 $2,672 $14,425
2003 $5,428 $8,469 $2,209 $13,755
2002 $4,984 $7,621 $1,891 $12,554
2001 $4,820 $7,283 $1,881 $11,533
2000 $4,840 $7,306 $1,650 $11,187
1999 $4,516 $6,857 $1,740 $10,489
1998 $4,206 $6,368 $1,709 $10,285
1997 $3,725 $5,673 $1,790 $10,101
1996 $3,508 $5,347 $1,915 $9,916
1995 $3,294 $5,062 $1,550 $9,255
1994 $3,152 $4,889 $1,168 $8,951
1993 $3,026 $4,742 $1,038 $8,933
1992 $3,053 $4,761 $1,957 $8,888
1991 $2,984 $4,733 $2,194 $8,580
1990 $2,782 $4,553 $2,138 $7,566
1989 $2,697 - $2,125 -
1988 $2,404 - $2,234 -
1987 $2,205 - $2,513 -
1986 $1,938 - $4,064 -
1985 $1,745 - $3,634 -
1984 $1,524 - $3,395 -
1983 $1,388 - $3,397 -
1982 $1,329 - $2,845 -
1981 $1,230 - $2,393 -
1980 $1,173 - $2,368 -
1979 $1,071 - $2,352 -
1978 $917 - $2,101 -
1977 $737 - $2,243 -
1976 - - $1,954 -
1975 - - $1,532 -
1974 - - $1,409 -
1973 - - $851 -
1972 - - $555 -
1971 - - $457 -
1970 - - $377 -
1969 - - $345 -
1968 - - $314 -
1967 - - $283.7 -
1966 - - $262.9 -
1965 - - $247.5 -
1964 - - $221.7 -
1963 - - $209.6 -
1962 - - $205.8 -
1961 - - $200.1 -
1960 - - $195.6 -

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

GeoRank.org/economy/grenada/iran | CC BY

Grenada's GDP per capita is $12,107, ranking 82/197, compared to $3,924 in Iran, ranking 135/197. Adjusted for purchasing power (GDP per capita PPP), Grenada ranks 96th at $20,178, while Iran ranks 97th at $19,874.

Economic indicators

Grenada Iran
Gross domestic product
$1.42B
2025
$363B
2025
GDP rank
184/197
2025
44/197
2025
GDP growth
4.41%
2024-2025
-2.83%
2024-2025
GDP per capita
$12,107
2025
$3,924
2025
GDP per capita rank
82/197
2025
135/197
2025
GDP per capita, PPP
$20,178
2024
$19,874
2024
GDP per capita PPP rank
96/197
2024
97/197
2024
Government debt
$1.02B
2025
$135B
2025
Debt-to-GDP ratio
71.6%
2025
37.3%
2025
Government debt per person
$8,671
2025
$1,463
2025
Government debt per person rank
65/185
2025
133/185
2025
Average annual personal income after taxes
$11,184
2026
$2,958
2026
Market capitalization of domestic companies n/a
$186B
2025
Income share by richest 10%
33.7%
2018
28.2%
2023
Income share by poorest 10%
2.1%
2018
2.8%
2023
Government expenditure, % of GDP
39.1%
2025
13.4%
2025
Consumer prices inflation
0.61%
2024-2025
42.2%
2024-2025
Central bank interest rate n/a
23%
2023
Unemployment rate
6.34%
2023
7.63%
2024
Population
117405
93580141

Spending and national debt comparison by year

Grenada
Spending

Debt
Iran
Spending

Debt
1x
Year % of GDP
Grenada Iran
Government spending Government debt Government spending Government debt
2025 39.1% 71.6% 13.4% 37.3%
2024 38.3% 75.1% 16% 31.2%
2023 28.7% 74.5% 12.8% 29.6%
2022 32% 79.3% 12.8% 34.5%
2021 31.3% 86.6% 13.4% 39.9%
2020 32.7% 89.5% 12.1% 47.1%
2019 21.6% 62.7% 13.6% 44.6%
2018 22.1% 68.5% 14.8% 41.6%
2017 22.6% 70.3% 16.4% 43.2%
2016 23.5% 81.6% 16.3% 45.9%
2015 25.3% 90.1% 14.1% 32.1%
2014 28.7% 99.3% 12.3% 10.9%
2013 28.1% 105.4% 11.5% 10.2%
2012 26.2% 101.5% 11.4% 11.7%
2011 28.3% 102.8% 14.6% 10.6%
2010 28% 96.2% 14.1% 12.8%
2009 27.2% 91.1% 15.7% 11.5%
2008 27.9% 83.9% 16.8% 10.6%
2007 27.7% 89.1% 14.2% 13.5%
2006 32.4% 92.9% 18.7% 15.2%
2005 26.6% 87.3% 17.9% 18.3%
2004 24.7% 94.7% 15.1% 21.1%
2003 28.7% 79.6% 15.7% 21.9%
2002 35.7% 79.1% 15.6% 23.4%
2001 29.6% 44.6% 13.6% 21%
2000 25.6% 41.6% 13.3% 18.2%
1999 23.7% 34.5% 15.7% 22.2%
1998 25.3% 40.3% 16.9% 29.6%
1997 26.6% 41.4% 17.4% 30.9%
1996 26.3% 43.9% 17.3% 29.3%
1995 23.2% 43.1% 21% 31.2%
1994 24.7% 45.7% 23% 41.7%
1993 23.1% 45.3% 27.2% 25.6%
1992 21.8% 40.1% 14.4% 25.2%
1991 26.8% 42% 14% 29.3%
1990 29% 46.2% 16.4% 37%
1989 - - 20% 48.8%
1988 - - 23.6% 53.2%
1987 - - 18.6% 48.6%
1986 - - 19% 47.4%
1985 - - 21.6% 8.73%
1984 - - 23.7% 10%
1983 - - 27.5% 35.7%
1982 - - 29.7% 47.7%
1981 - - 33.7% 47.6%
1980 - - 35.8% 35.5%
1979 - - - -
1978 - - - -
1977 - - - 9.23%
1976 - - - 6.92%
1975 - - - 8.81%
1974 - - - 6.68%
1973 - - - 12.8%
1972 - - - 12.7%
1971 - - - 14.2%
1970 - - - 14.1%
1969 - - - -
1968 - - 23.6% -
1967 - - 22.3% -
1966 - - 20.5% -
1965 - - 16.3% 14.9%
1964 - - 15.4% 15.2%
1963 - - 14.8% 12.4%
1962 - - 15.6% 13.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1995, retrieved 2026-07-08).

GeoRank.org/economy/grenada/iran | CC BY

In 2025, Grenada's government spending was $556M, accounting for 39.1% of its GDP, while Iran spent $48.7B, or 13.4% of GDP.

Debt-to-GDP ratio is 71.6% in Grenada and 37.3% in Iran, ranking 54/185 and 139/185, respectively.

Government deficit by year

Deficit/surplus
Grenada

Iran
1x
Year Deficit/surplus, % of GDP
Grenada Iran
2025 -5.01% -5.65%
2024 6.88% -2.68%
2023 7.94% -3.04%
2022 0.93% -2.64%
2021 0.33% -3.01%
2020 -4.55% -4.87%
2019 4.96% -4.3%
2018 4.92% -1.59%
2017 3.02% -1.55%
2016 2.69% -1.7%
2015 -0.8% -1.3%
2014 -4.2% -0.91%
2013 -7.25% -0.72%
2012 -5.44% -0.5%
2011 -4.86% -0.66%
2010 -4.07% -0.84%
2009 -4.4% -3.3%
2008 -3.72% -4.39%
2007 -5.91% -2.41%
2006 -5.23% -4.91%
2005 0.9% -2.44%
2004 -0.57% -2.45%
2003 -2.81% -2.76%
2002 -13.9% -2.88%
2001 -6.05% 0.02%
2000 -2.07% 5.42%
1999 -1.7% -0.51%
1998 -2.39% -5.03%
1997 -4.94% -1.81%
1996 -3.02% -0.75%
1995 -0.46% -2.63%
1994 -2.85% -3.36%
1993 -0.16% -5.15%
1992 -1.46% -0.86%
1991 -4.34% -1.64%
1990 -7.78% -1.73%
1989 - -4.45%
1988 - -10.3%
1987 - -6.84%
1986 - -7.84%
1985 - -3.74%
1984 - -4.02%
1983 - -6.15%
1982 - -5.55%
1981 - -10.7%
1980 - -14.2%
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -4.57%
1967 - -4%
1966 - -2.63%
1965 - -1.23%
1964 - -0.04%
1963 - 0.26%
1962 - -1.39%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-07-08).

GeoRank.org/economy/grenada/iran | CC BY

In 2025, Grenada's government deficit, the difference between spending and revenue, was $71.1M, equivalent to 5.01% of GDP. This compares to Iran's deficit of $20.5B, or 5.65% of GDP.

Over the past 36 years, Grenada recorded a fiscal deficit in 27 of those years, while Iran ran a deficit in 34 years. On average, Grenada posted an annual deficit equal to 2.15% of GDP, compared to deficit of 2.21% of GDP for Iran.

Inflation comparison by year

Inflation
Grenada

Iran
1x
Year Consumer prices inflation
Grenada Iran
2025 0.61% 42.2%
2024 1.09% 32.5%
2023 2.7% 44.6%
2022 2.58% 43.5%
2021 1.22% 43.4%
2020 -0.74% 30.6%
2019 0.6% 39.9%
2018 0.8% 18%
2017 0.91% 8.04%
2016 1.65% 7.25%
2015 -0.52% 12.5%
2014 -0.98% 16.6%
2013 -0.04% 36.6%
2012 2.41% 27.3%
2011 3.03% 26.3%
2010 3.44% 10.1%
2009 -0.31% 13.6%
2008 8.03% 25.4%
2007 3.86% 17.3%
2006 4.25% 10%
2005 3.48% 13.4%
2004 2.31% 14.8%
2003 2.15% 16.5%
2002 1.07% 14.3%
2001 3.14% 11.3%
2000 2.18% 14.5%
1999 0.58% 20.1%
1998 1.38% 17.9%
1997 1.24% 17.3%

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

GeoRank.org/economy/grenada/iran | CC BY

Over the past 29 years, Grenada has recorded an average annual inflation rate of 1.8%, compared with 22.3% in Iran. In 2025, inflation was 0.61% in Grenada and 42.2% in Iran.

Balance of trade

Grenada Iran
Current account balance
-$328M
2025
$12.5B
2000
Current account balance ranking
97/190
2025
22/190
2000
Current account balance, % of GDP
-23.1%
2025
+11.4%
2000
Goods imports
$612M
2025
$15.2B
2000
Goods exports
$67.4M
2025
$28.3B
2000
Service imports
$397M
2025
$2.3B
2000
Service exports
$756M
2025
$1.38B
2000
Imports of goods and services, % of GDP n/a
34.5%
2025
Exports of goods and services, % of GDP
16%
2026
25.8%
2025

Economic freedom indices

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

Grenada Iran
Economic freedom 63 41.8
Economic freedom ranking 84/197 185/197
Property rights n/a 20.2
Government integrity n/a 16.2
Judicial effectiveness n/a 18.7
Tax burden n/a 81.3
Government spending n/a 94.7
Fiscal health n/a 83.3
Business freedom n/a 37.4
Labor freedom n/a 41.8
Monetary freedom n/a 42.2
Trade freedom n/a 55.8
Investment freedom n/a 5
Financial freedom n/a 5

Other economic metrics

Grenada Iran
Services, % of GDP
64.9%
2025
47.1%
2025
Industry, % of GDP
15.5%
2025
39.6%
2025
Agriculture, forestry, and fishing, % of GDP
2.54%
2025
10.6%
2025
GNI, Atlas method
$1.37B
2025
$429B
2025
GNI per capita, PPP
$20,170
2025
$19,660
2025
Total reserves including gold
$408M
2025
$7.69B
1982
Total reserves ranking
164/177
2025
89/177
1982
Net foreign direct investment
-$174M
2025
-$39M
2000
Net inflows of foreign direct investment
$164M
2024
$1.45B
2024
Net outflows of foreign direct investment
-$4.02M
2024
$89.4M
2024
Servicing debt to the IMF, % of GNI
3.4%
2024
0.08%
2024
Poverty at national poverty lines
38%
2020
18.7%
2020
Gross capital formation, % of GDP n/a
41.8%
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/grenada/iran | 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 (1962–1995, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-07-08)
  6. Central Intelligence Agency (CIA) (2020, 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.