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Economy of Grenada vs Nicaragua compared: GDP & Debt

Updated on by Georank

Grenada has a GDP of $1.42B compared to $22.2B for Nicaragua, ranking 184/197 and 128/197 by economy size, respectively.

Grenada has $1.02B in government debt (71.6% of GDP), compared to $7.74B (34.8% of GDP) in Nicaragua.

Grenada vs Nicaragua GDP by year

Grenada
Nicaragua
1x
Year GDP, current $
Grenada Nicaragua
2025 $1,420,173,229 $22,237,167,113
2024 $1,351,270,370 $19,696,311,850
2023 $1,336,418,519 $17,805,842,221
2022 $1,224,007,407 $15,634,573,556
2021 $1,122,222,222 $14,209,019,392
2020 $1,043,411,111 $12,726,422,432
2019 $1,213,485,185 $12,699,023,614
2018 $1,166,514,815 $13,025,221,974
2017 $1,125,685,185 $13,785,893,007
2016 $1,061,640,741 $13,286,093,388
2015 $997,007,407 $12,756,696,261
2014 $911,496,296 $11,880,438,824
2013 $842,618,519 $10,982,988,249
2012 $799,881,481 $10,532,017,232
2011 $778,655,556 $9,774,329,333
2010 $771,014,815 $8,758,602,233
2009 $771,275,556 $8,298,702,489
2008 $825,976,037 $8,496,967,597
2007 $758,683,593 $7,423,375,015
2006 $698,700,667 $6,763,672,381
2005 $695,555,556 $6,321,324,279
2004 $599,118,593 $5,792,932,838
2003 $591,018,407 $5,322,228,351
2002 $540,336,926 $5,223,727,303
2001 $520,444,185 $5,351,752,034
2000 $520,044,370 $5,109,587,050
1999 $482,009,370 $4,856,026,259
1998 $445,903,593 $4,635,347,386
1997 $392,190,593 $4,389,973,490
1996 $366,911,444 $4,308,351,903
1995 $342,172,519 $4,140,470,000
1994 $325,111,815 $3,863,185,119
1993 $309,812,185 $1,756,454,248
1992 $310,160,444 $1,792,800,000
1991 $300,757,889 $1,488,804,124
1990 $278,098,763 $1,009,455,484
1989 $267,327,642 $1,013,184,756
1988 $236,357,524 $2,630,900,096
1987 $215,009,570 $3,851,200,118
1986 $187,589,523 $2,885,799,994
1985 $167,728,455 $2,683,699,935
1984 $145,533,311 $3,117,599,872
1983 $131,803,552 $2,753,100,058
1982 $125,435,590 $2,454,499,872
1981 $115,651,919 $2,474,700,227
1980 $110,900,457 $2,144,300,006
1979 $102,244,362 $1,567,599,982
1978 $88,322,386 $2,127,699,979
1977 $71,494,495 $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 (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Grenada vs Nicaragua by year

Grenada
GDP per capita

GDP per capita, PPP
Nicaragua
GDP per capita

GDP per capita, PPP
1x
Year Current $
Grenada Nicaragua
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $12,107 - $3,173 -
2024 $11,529 $20,178 $2,848 $8,709
2023 $11,414 $18,971 $2,609 $8,320
2022 $10,469 $17,544 $2,323 $7,797
2021 $9,617 $15,290 $2,138 $7,119
2020 $8,969 $14,361 $1,938 $6,274
2019 $10,463 $16,446 $1,959 $5,981
2018 $10,083 $15,975 $2,035 $5,935
2017 $9,751 $15,041 $2,183 $6,225
2016 $9,221 $13,978 $2,132 $5,882
2015 $8,694 $13,214 $2,074 $5,449
2014 $7,986 $12,229 $1,958 $5,068
2013 $7,425 $11,199 $1,835 $4,711
2012 $7,093 $10,575 $1,785 $4,508
2011 $6,947 $10,592 $1,680 $4,325
2010 $6,910 $10,344 $1,527 $4,042
2009 $6,933 $10,303 $1,467 $3,880
2008 $7,448 $11,001 $1,524 $4,044
2007 $6,865 $10,728 $1,350 $3,891
2006 $6,344 $9,877 $1,248 $3,658
2005 $6,339 $10,016 $1,183 $3,456
2004 $5,480 $8,606 $1,099 $3,255
2003 $5,428 $8,469 $1,021 $3,046
2002 $4,984 $7,621 $1,014 $2,948
2001 $4,820 $7,283 $1,052 $2,917
2000 $4,840 $7,306 $1,017 $2,806
1999 $4,516 $6,857 $980 $2,672
1998 $4,206 $6,368 $949 $2,497
1997 $3,725 $5,673 $913 $2,418
1996 $3,508 $5,347 $911 $2,325
1995 $3,294 $5,062 $892 $2,187
1994 $3,152 $4,889 $849 $2,064
1993 $3,026 $4,742 $394 $1,998
1992 $3,053 $4,761 $411 $2,003
1991 $2,984 $4,733 $350 $1,995
1990 $2,782 $4,553 $242.5 $1,979
1989 $2,697 - $249.2 -
1988 $2,404 - $662 -
1987 $2,205 - $992 -
1986 $1,938 - $761 -
1985 $1,745 - $724 -
1984 $1,524 - $861 -
1983 $1,388 - $780 -
1982 $1,329 - $714 -
1981 $1,230 - $740 -
1980 $1,173 - $659 -
1979 $1,071 - $495 -
1978 $917 - $691 -
1977 $737 - $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 (1960–2025, retrieved 2026-07-08).

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

Grenada's GDP per capita is $12,107, ranking 82/197, compared to $3,173 in Nicaragua, ranking 140/197. Adjusted for purchasing power (GDP per capita PPP), Grenada ranks 96th at $20,178, while Nicaragua ranks 138th at $8,709.

Economic indicators

Grenada Nicaragua
Gross domestic product
$1.42B
2025
$22.2B
2025
GDP rank
184/197
2025
128/197
2025
GDP growth
4.41%
2024-2025
4.92%
2024-2025
GDP per capita
$12,107
2025
$3,173
2025
GDP per capita rank
82/197
2025
140/197
2025
GDP per capita, PPP
$20,178
2024
$8,709
2024
GDP per capita PPP rank
96/197
2024
138/197
2024
Government debt
$1.02B
2025
$7.74B
2025
Debt-to-GDP ratio
71.6%
2025
34.8%
2025
Government debt per person
$8,671
2025
$1,104
2025
Government debt per person rank
65/185
2025
142/185
2025
Average annual personal income after taxes
$11,184
2026
$1,939
2026
Income share by richest 10%
33.7%
2018
37.2%
2014
Income share by poorest 10%
2.1%
2018
2%
2014
Government expenditure, % of GDP
39.1%
2025
26.1%
2025
Consumer prices inflation
0.61%
2024-2025
2.1%
2024-2025
Central bank interest rate n/a
6%
2025
Unemployment rate
6.34%
2023
5.2%
2018
Population
117405
7144725

Spending and national debt comparison by year

Grenada
Spending

Debt
Nicaragua
Spending

Debt
1x
Year % of GDP
Grenada Nicaragua
Government spending Government debt Government spending Government debt
2025 39.1% 71.6% 26.1% 34.8%
2024 38.3% 75.1% 26.2% 37.9%
2023 28.7% 74.5% 26% 42.4%
2022 32% 79.3% 28.6% 45.9%
2021 31.3% 86.6% 30% 48.4%
2020 32.7% 89.5% 28.9% 49.2%
2019 21.6% 62.7% 27.7% 44.2%
2018 22.1% 68.5% 27.7% 39.1%
2017 22.6% 70.3% 27.3% 34.7%
2016 23.5% 81.6% 26.8% 30.9%
2015 25.3% 90.1% 25.4% 28.9%
2014 28.7% 99.3% 24.6% 28.7%
2013 28.1% 105.4% 24.2% 28.8%
2012 26.2% 101.5% 24.1% 27.9%
2011 28.3% 102.8% 23.5% 28.8%
2010 28% 96.2% 22.6% 30.3%
2009 27.2% 91.1% 22.7% 29.3%
2008 27.9% 83.9% 21.9% 26%
2007 27.7% 89.1% 21.5% 30.9%
2006 32.4% 92.9% 21.4% 51.2%
2005 26.6% 87.3% 21.3% 66.6%
2004 24.7% 94.7% 20.8% 84%
2003 28.7% 79.6% 20.9% 109.5%
2002 35.7% 79.1% 18.7% 110.4%
2001 29.6% 44.6% 19.2% 87.5%
2000 25.6% 41.6% 20.6% 95.2%
1999 23.7% 34.5% 22.1% 99.8%
1998 25.3% 40.3% 18.5% 86.5%
1997 26.6% 41.4% 17.9% 86.4%
1996 26.3% 43.9% 18% -
1995 23.2% 43.1% 17.7% -
1994 24.7% 45.7% 18.4% -
1993 23.1% 45.3% 18.4% -
1992 21.8% 40.1% 18.4% -
1991 26.8% 42% 16.8% -
1990 29% 46.2% 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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-07-08).

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

In 2025, Grenada's government spending was $556M, accounting for 39.1% of its GDP, while Nicaragua spent $5.8B, or 26.1% of GDP.

Debt-to-GDP ratio is 71.6% in Grenada and 34.8% in Nicaragua, ranking 54/185 and 145/185, respectively.

Government deficit by year

Deficit/surplus
Grenada

Nicaragua
1x
Year Deficit/surplus, % of GDP
Grenada Nicaragua
2025 -5.01% 2.1%
2024 6.88% 2.25%
2023 7.94% 2.3%
2022 0.93% 0.65%
2021 0.33% -1.26%
2020 -4.55% -2.57%
2019 4.96% -1.12%
2018 4.92% -4.35%
2017 3.02% -1.75%
2016 2.69% -1.92%
2015 -0.8% -1.64%
2014 -4.2% -0.89%
2013 -7.25% -0.3%
2012 -5.44% 0.22%
2011 -4.86% 0.59%
2010 -4.07% 0.69%
2009 -4.4% -0.9%
2008 -3.72% 0.27%
2007 -5.91% 1.88%
2006 -5.23% 1.36%
2005 0.9% 1.72%
2004 -0.57% 1.69%
2003 -2.81% 1.3%
2002 -13.9% 2.07%
2001 -6.05% 0.34%
2000 -2.07% 2.15%
1999 -1.7% -6.86%
1998 -2.39% -2.88%
1997 -4.94% -3.31%
1996 -3.02% -5%
1995 -0.46% -4.62%
1994 -2.85% -5.79%
1993 -0.16% -4.66%
1992 -1.46% -3.8%
1991 -4.34% -3.45%
1990 -7.78% -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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-07-08).

GeoRank.org/economy/grenada/nicaragua | 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 Nicaragua's surplus of $467M, or 2.1% of GDP.

Over the past 36 years, Grenada recorded a fiscal deficit in 27 of those years, while Nicaragua ran a deficit in 20 years. On average, Grenada posted an annual deficit equal to 2.15% of GDP, compared to deficit of 1.41% of GDP for Nicaragua.

Inflation comparison by year

Inflation
Grenada

Nicaragua
1x
Year Consumer prices inflation
Grenada Nicaragua
2025 0.61% 2.1%
2024 1.09% 4.6%
2023 2.7% 8.4%
2022 2.58% 10.5%
2021 1.22% 4.9%
2020 -0.74% 3.7%
2019 0.6% 5.4%
2018 0.8% 4.9%
2017 0.91% 3.9%
2016 1.65% 3.5%
2015 -0.52% 4%
2014 -0.98% 6%
2013 -0.04% 7.1%
2012 2.41% 7.2%
2011 3.03% 8.1%
2010 3.44% 5.5%
2009 -0.31% 3.7%
2008 8.03% 19.8%
2007 3.86% 11.1%
2006 4.25% 9.1%
2005 3.48% 9.6%
2004 2.31% 8.5%
2003 2.15% 5.3%
2002 1.07% 3.8%
2001 3.14% 7.4%
2000 2.18% 11.5%
1999 0.58% 11.2%
1998 1.38% 13%
1997 1.24% 9.2%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Grenada has recorded an average annual inflation rate of 1.8%, compared with 7.34% in Nicaragua. In 2025, inflation was 0.61% in Grenada and 2.1% in Nicaragua.

Top exports between countries

Grenada
Export category Export value
Nicaragua
Export category Export value
Processed food, beverages & tobacco $309K

Balance of trade

Grenada Nicaragua
Current account balance
-$328M
2025
$818M
2024
Current account balance ranking
97/190
2025
52/190
2024
Current account balance, % of GDP
-23.1%
2025
+4.15%
2024
Goods imports
$612M
2025
$10.1B
2024
Goods exports
$67.4M
2025
$6.84B
2024
Service imports
$397M
2025
$1.31B
2024
Service exports
$756M
2025
$1.3B
2024
Imports of goods and services, % of GDP n/a
54.9%
2025
Exports of goods and services, % of GDP
16%
2026
41.6%
2025

Economic freedom indices

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

Grenada Nicaragua
Economic freedom 63 53.6
Economic freedom ranking 84/197 139/197
Property rights n/a 23.8
Government integrity n/a 13.4
Judicial effectiveness n/a 8.8
Tax burden n/a 74.5
Government spending n/a 77.7
Fiscal health n/a 96.9
Business freedom n/a 54.4
Labor freedom n/a 47.3
Monetary freedom n/a 69.4
Trade freedom n/a 67
Investment freedom n/a 60
Financial freedom n/a 50

Other economic metrics

Grenada Nicaragua
Services, % of GDP
64.9%
2025
45.2%
2025
Industry, % of GDP
15.5%
2025
29.3%
2025
Agriculture, forestry, and fishing, % of GDP
2.54%
2025
14.5%
2025
GNI, Atlas method
$1.37B
2025
$19.9B
2025
GNI per capita, PPP
$20,170
2025
$8,780
2025
Total reserves including gold
$408M
2025
$8.32B
2025
Total reserves ranking
164/177
2025
87/177
2025
Net foreign direct investment
-$174M
2025
-$1.28B
2024
Net inflows of foreign direct investment
$164M
2024
$1.35B
2024
Net outflows of foreign direct investment
-$4.02M
2024
$73.8M
2024
Servicing debt to the IMF, % of GNI
3.4%
2024
9.74%
2024
Poverty at national poverty lines
38%
2020
24.9%
2016
Gross capital formation, % of GDP n/a
25.8%
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/nicaragua | 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 (1960–1999, 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. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)
  8. Central Intelligence Agency (CIA) (2020, retrieved 2026-07-08)
  9. TradeMap (2025, 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.