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Economy of Malaysia vs Nicaragua compared: GDP & Debt

Updated on by Georank team

Malaysia has a GDP of $422B compared to $19.7B for Nicaragua, ranking 38/197 and 131/197 by economy size, respectively.

Malaysia has $296B in government debt (70.1% of GDP), compared to $7.71B (39.1% of GDP) in Nicaragua.

Malaysia vs Nicaragua GDP by year

Malaysia
Nicaragua
1x
Year GDP, current $
Malaysia Nicaragua
2024 $422,227,005,429 $19,693,982,968
2023 $399,949,418,753 $17,805,842,284
2022 $407,830,525,990 $15,634,572,502
2021 $373,784,553,030 $14,209,020,362
2020 $337,456,163,961 $12,726,422,432
2019 $365,177,721,022 $12,699,023,614
2018 $358,788,845,713 $13,025,221,974
2017 $319,109,094,160 $13,785,893,007
2016 $301,256,033,870 $13,286,093,388
2015 $301,355,266,965 $12,756,696,261
2014 $338,066,095,097 $11,880,438,824
2013 $323,276,235,524 $10,982,988,249
2012 $314,443,047,642 $10,532,017,232
2011 $297,951,668,675 $9,774,329,333
2010 $255,017,638,456 $8,758,602,233
2009 $202,257,453,037 $8,298,702,489
2008 $230,811,614,370 $8,496,967,597
2007 $193,549,569,478 $7,423,375,015
2006 $162,692,258,307 $6,763,672,381
2005 $143,534,405,819 $6,321,324,279
2004 $124,749,473,684 $5,792,932,838
2003 $110,202,368,421 $5,322,228,351
2002 $100,845,526,316 $5,223,727,303
2001 $92,783,947,368 $5,351,752,034
2000 $93,789,736,842 $5,109,587,050
1999 $79,148,421,053 $4,856,026,259
1998 $72,167,498,981 $4,635,347,386
1997 $100,005,323,302 $4,389,973,490
1996 $100,855,393,910 $4,308,351,903
1995 $88,705,342,903 $4,140,470,000
1994 $74,478,356,958 $3,863,185,119
1993 $66,894,966,969 $1,756,454,248
1992 $59,167,550,163 $1,792,800,000
1991 $49,143,148,094 $1,488,804,124
1990 $44,024,585,240 $1,009,455,484
1989 $38,847,965,293 $1,013,184,756
1988 $35,272,109,220 $2,630,900,096
1987 $32,181,210,158 $3,851,200,118
1986 $27,734,111,400 $2,885,799,994
1985 $31,199,633,353 $2,683,699,935
1984 $33,942,897,422 $3,117,599,872
1983 $30,347,442,111 $2,753,100,058
1982 $26,804,493,635 $2,454,499,872
1981 $25,004,285,792 $2,474,700,227
1980 $24,488,224,677 $2,144,300,006
1979 $21,213,264,962 $1,567,599,982
1978 $16,358,079,862 $2,127,699,979
1977 $13,139,488,633 $2,226,999,874
1976 $11,050,234,599 $1,836,899,999
1975 $9,298,800,799 $1,581,599,959
1974 $9,496,204,302 $1,521,400,012
1973 $7,662,902,678 $1,092,900,015
1972 $5,043,347,250 $878,570,045
1971 $4,244,395,956 $828,569,953
1970 $3,864,145,667 $778,569,939
1969 $3,664,552,041 $750,000,003
1968 $3,330,371,551 $692,859,985
1967 $3,188,924,677 $657,140,011
1966 $3,143,517,944 $607,140,010
1965 $2,956,337,669 $564,290,020
1964 $2,674,423,922 $347,119,918
1963 $2,510,110,348 $297,324,163
1962 $2,001,489,602 $269,283,804
1961 $1,901,856,123 $244,144,237
1960 $1,916,229,477 $227,223,322

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Malaysia vs Nicaragua by year

Malaysia
GDP per capita

GDP per capita, PPP
Nicaragua
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malaysia Nicaragua
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $11,874 $38,779 $2,848 $8,709
2023 $11,386 $36,467 $2,609 $8,320
2022 $11,755 $34,420 $2,323 $7,797
2021 $10,903 $29,823 $2,138 $7,119
2020 $9,958 $27,475 $1,938 $6,274
2019 $10,920 $28,934 $1,959 $5,981
2018 $10,902 $27,794 $2,035 $5,935
2017 $9,863 $26,416 $2,183 $6,225
2016 $9,477 $25,286 $2,132 $5,882
2015 $9,649 $24,526 $2,074 $5,449
2014 $11,013 $24,307 $1,958 $5,068
2013 $10,714 $23,161 $1,835 $4,711
2012 $10,601 $22,639 $1,785 $4,508
2011 $10,217 $21,324 $1,680 $4,325
2010 $8,899 $20,193 $1,527 $4,042
2009 $7,191 $18,923 $1,467 $3,880
2008 $8,372 $19,480 $1,524 $4,044
2007 $7,169 $18,617 $1,350 $3,891
2006 $6,158 $17,426 $1,248 $3,658
2005 $5,556 $16,371 $1,183 $3,456
2004 $4,939 $15,416 $1,099 $3,255
2003 $4,465 $14,387 $1,021 $3,046
2002 $4,184 $13,656 $1,014 $2,948
2001 $3,944 $13,072 $1,052 $2,917
2000 $4,084 $13,027 $1,017 $2,806
1999 $3,528 $11,980 $980 $2,672
1998 $3,294 $11,398 $949 $2,497
1997 $4,679 $12,469 $913 $2,418
1996 $4,837 $11,709 $911 $2,325
1995 $4,363 $10,720 $892 $2,187
1994 $3,758 $9,806 $849 $2,064
1993 $3,462 $9,018 $394 $1,998
1992 $3,141 $8,224 $411 $2,003
1991 $2,679 $7,583 $350 $1,995
1990 $2,469 $6,887 $242.5 $1,979
1989 $2,244 - $249.2 -
1988 $2,100 - $662 -
1987 $1,977 - $992 -
1986 $1,760 - $761 -
1985 $2,046 - $724 -
1984 $2,300 - $861 -
1983 $2,124 - $780 -
1982 $1,938 - $714 -
1981 $1,866 - $740 -
1980 $1,886 - $659 -
1979 $1,680 - $495 -
1978 $1,327 - $691 -
1977 $1,092 - $744 -
1976 $940 - $633 -
1975 $811 - $561 -
1974 $848 - $557 -
1973 $701 - $413 -
1972 $472 - $341 -
1971 $407 - $331 -
1970 $380 - $321 -
1969 $368 - $319 -
1968 $342 - $304 -
1967 $335 - $297.9 -
1966 $339 - $284 -
1965 $326 - $272.3 -
1964 $303 - $172.7 -
1963 $291.8 - $152.5 -
1962 $238.8 - $142.3 -
1961 $232.9 - $132.9 -
1960 $240.8 - $127.5 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

Malaysia's GDP per capita is $11,874, ranking 79/197, compared to $2,848 in Nicaragua, ranking 141/197. Adjusted for purchasing power (GDP per capita PPP), Malaysia ranks 60th at $38,779, while Nicaragua ranks 138th at $8,709.

Economic indicators

Malaysia Nicaragua
Gross domestic product
$422B
2024
$19.7B
2024
GDP rank
38/197
2024
131/197
2024
GDP growth
5.11%
2023-2024
3.59%
2023-2024
GDP per capita
$11,874
2024
$2,848
2024
GDP per capita rank
79/197
2024
141/197
2024
GDP per capita, PPP
$38,779
2024
$8,709
2024
GDP per capita PPP rank
60/197
2024
138/197
2024
Government debt
$296B
2024
$7.71B
2024
Debt-to-GDP ratio
70.1%
2024
39.1%
2024
Government debt per person
$8,322
2024
$1,115
2024
Government debt per person rank
62/185
2024
138/185
2024
Average annual personal income after taxes
$11,005
2026
$2,318
2026
Market capitalization of domestic companies
$449B
2024
n/a
Number of billionaires
19
2025
n/a
Income share by richest 10%
30.9%
2021
37.2%
2014
Income share by poorest 10%
2.3%
2021
2%
2014
Government expenditure, % of GDP
23.9%
2024
27.1%
2024
Consumer prices inflation
1.83%
2023-2024
4.6%
2023-2024
Central bank interest rate
2.75%
2025
6%
2025
Unemployment rate
3.93%
2022
5.2%
2018
Population
36512221
7124343

Spending and national debt comparison by year

Malaysia
Spending

Debt
Nicaragua
Spending

Debt
1x
Year % of GDP
Malaysia Nicaragua
Government spending Government debt Government spending Government debt
2024 23.9% 70.1% 27.1% 39.1%
2023 24.9% 69.7% 26% 42.3%
2022 24.6% 65.5% 28.6% 45.9%
2021 24.5% 69.2% 30% 48.4%
2020 25% 67.7% 28.9% 49.2%
2019 23.6% 57.1% 27.7% 44.2%
2018 22.8% 55.6% 27.7% 39.1%
2017 22% 54.4% 27.3% 34.7%
2016 22.9% 55.8% 26.8% 30.9%
2015 24.7% 57% 25.4% 28.9%
2014 26% 55.4% 24.6% 28.7%
2013 27.8% 55.7% 24.2% 28.8%
2012 28.5% 53.8% 24.1% 27.9%
2011 27.1% 51.9% 23.5% 28.8%
2010 26.6% 51.2% 22.6% 30.3%
2009 30.9% 50.4% 22.7% 29.3%
2008 26.9% 39.4% 21.9% 26%
2007 25.9% 39.3% 21.5% 30.9%
2006 25.6% 39.7% 21.4% 51.2%
2005 24.5% 40.8% 21.3% 66.6%
2004 25.9% 42% 20.8% 84%
2003 28.1% 41.4% 20.9% 109.5%
2002 27.1% 39.5% 18.7% 110.4%
2001 28.2% 38.1% 19.2% 87.5%
2000 25.6% 32.5% 20.6% 95.2%
1999 24.6% 34.4% 22.1% 99.8%
1998 23.1% 33.6% 18.5% 86.5%
1997 21.2% 29.6% 17.9% 86.4%
1996 22.4% 32.8% 18% -
1995 22.6% 38.2% 17.7% -
1994 23.3% 43.7% 18.4% -
1993 24.6% 51.1% 18.4% -
1992 28.2% 59.1% 18.4% -
1991 27.4% 67.3% 16.8% -
1990 30.5% 74.1% 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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-02-20).

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

In 2024, Malaysia's government spending was $101B, accounting for 23.9% of its GDP, while Nicaragua spent $5.34B, or 27.1% of GDP.

Debt-to-GDP ratio is 70.1% in Malaysia and 39.1% in Nicaragua, ranking 58/185 and 136/185, respectively.

Government deficit by year

Deficit/surplus
Malaysia

Nicaragua
1x
Year Deficit/surplus, % of GDP
Malaysia Nicaragua
2024 -3.95% 2.48%
2023 -3.97% 2.31%
2022 -4.56% 0.65%
2021 -6.03% -1.26%
2020 -4.9% -2.57%
2019 -2.01% -1.12%
2018 -2.64% -4.35%
2017 -2.41% -1.75%
2016 -2.6% -1.92%
2015 -2.55% -1.64%
2014 -2.63% -0.89%
2013 -3.48% -0.3%
2012 -3.1% 0.22%
2011 -3.57% 0.59%
2010 -4.32% 0.69%
2009 -5.88% -0.9%
2008 -3.4% 0.27%
2007 -2.57% 1.88%
2006 -2.6% 1.36%
2005 -2.83% 1.72%
2004 -3.35% 1.69%
2003 -4.6% 1.3%
2002 -3.96% 2.07%
2001 -4.36% 0.34%
2000 -6.05% 2.15%
1999 -3% -6.86%
1998 -0.63% -2.88%
1997 4.84% -3.31%
1996 3.27% -5%
1995 3.1% -4.62%
1994 5.45% -5.79%
1993 3.44% -4.66%
1992 1.81% -3.8%
1991 1.6% -3.45%
1990 0.15% -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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-02-20).

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

In 2024, Malaysia's government deficit, the difference between spending and revenue, was $16.7B, equivalent to 3.95% of GDP. This compares to Nicaragua's surplus of $489M, or 2.48% of GDP.

Over the past 35 years, Malaysia recorded a fiscal deficit in 27 of those years, while Nicaragua ran a deficit in 20 years. On average, Malaysia posted an annual deficit equal to 2.07% of GDP, compared to deficit of 1.5% of GDP for Nicaragua.

Inflation comparison by year

Inflation
Malaysia

Nicaragua
1x
Year Consumer prices inflation
Malaysia Nicaragua
2024 1.83% 4.6%
2023 2.49% 8.4%
2022 3.38% 10.5%
2021 2.48% 4.9%
2020 -1.14% 3.7%
2019 0.66% 5.4%
2018 0.88% 4.9%
2017 3.87% 3.9%
2016 2.09% 3.5%
2015 2.1% 4%
2014 3.14% 6%
2013 2.11% 7.1%
2012 1.66% 7.2%
2011 3.17% 8.1%
2010 1.62% 5.5%
2009 0.58% 3.7%
2008 5.44% 19.8%
2007 2.03% 11.1%
2006 3.61% 9.1%
2005 2.98% 9.6%
2004 1.42% 8.5%
2003 1.09% 5.3%
2002 1.81% 3.8%
2001 1.42% 7.4%
2000 1.53% 11.5%
1999 2.74% 11.2%
1998 5.27% 13%
1997 2.66% 9.2%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Malaysia has recorded an average annual inflation rate of 2.25%, compared with 7.53% in Nicaragua. In 2024, inflation was 1.83% in Malaysia and 4.6% in Nicaragua.

Top exports between countries

Malaysia
Export category Export value
Machinery & equipment $947K
Miscellaneous $934K
Textiles & consumer goods $782K
Raw materials & minerals $526K
Processed food, beverages & tobacco $301K
Chemicals & pharma $193K
Metals $140K
Precious metals & jewellery $90K
Animal & marine products $81K
Wood & paper products $2K
Nicaragua
Export category Export value
Animal & marine products $1.82M
Metals $1.03M
Raw agricultural goods $465K
Processed food, beverages & tobacco $392K
Wood & paper products $154K
Textiles & consumer goods $123K
Chemicals & pharma $27K
Machinery & equipment $17K
Raw materials & minerals $1K

Balance of trade

Malaysia Nicaragua
Current account balance
$7.15B
2024
$818M
2024
Current account balance ranking
26/190
2024
55/190
2024
Current account balance, % of GDP
+1.69%
2024
+4.15%
2024
Goods imports
$223B
2024
$10.1B
2024
Goods exports
$248B
2024
$6.84B
2024
Service imports
$56.4B
2024
$1.31B
2024
Service exports
$53.4B
2024
$1.3B
2024
Imports of goods and services, % of GDP
66%
2024
58.1%
2024
Exports of goods and services, % of GDP
71.3%
2024
40.5%
2024

Economic freedom indices

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

Malaysia Nicaragua
Economic freedom 68 53.6
Economic freedom ranking 51/197 139/197
Property rights 62.7 23.8
Government integrity 52.9 13.4
Judicial effectiveness 63.4 8.8
Tax burden 83.5 74.5
Government spending 82 77.7
Fiscal health 62.5 96.9
Business freedom 79.6 54.4
Labor freedom 55.4 47.3
Monetary freedom 80.8 69.4
Trade freedom 83 67
Investment freedom 60 60
Financial freedom 50 50

Economic freedom comparison by year

Malaysia
Nicaragua
1x
Year Economic freedom index
Malaysia Nicaragua
2026 68 53.6
2025 67.1 54
2024 65.7 53.4
2023 67.3 54.9
2022 68.1 54.8
2021 74.4 56.3
2020 74.7 57.2
2019 74 57.7
2018 74.5 58.9
2017 73.8 59.2
2016 71.5 58.6
2015 70.8 57.6
2014 69.6 58.4
2013 66.1 56.6
2012 66.4 57.9
2011 66.3 58.8
2010 64.8 58.3
2009 64.6 59.8
2008 63.9 60.8
2007 63.8 62.7
2006 61.6 63.8
2005 61.9 62.5
2004 59.9 61.4
2003 61.1 62.6
2002 60.1 61.1
2001 60.2 58
2000 66 56.9
1999 68.9 54
1998 68.2 53.8
1997 66.8 53.3
1996 69.9 54.1
1995 71.9 42.5

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

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

The Economic Freedom Index for Malaysia is 68, ranking 51/197, 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

Malaysia Nicaragua
Services, % of GDP
53.7%
2024
46.8%
2024
Industry, % of GDP
37%
2024
27.6%
2024
Agriculture, forestry, and fishing, % of GDP
8.13%
2024
14.4%
2024
GNI, Atlas method
$414B
2024
$17.4B
2024
GNI per capita, PPP
$37,450
2024
$8,270
2024
Total reserves including gold
$116B
2024
$6.1B
2024
Total reserves ranking
24/177
2024
91/177
2024
Net foreign direct investment
-$2.55B
2024
-$1.28B
2024
Net inflows of foreign direct investment
$15.6B
2024
$1.35B
2024
Net outflows of foreign direct investment
$13B
2024
$73.8M
2024
Servicing debt to the IMF, % of GNI n/a
9.74%
2024
Poverty at national poverty lines
5.8%
2023
24.9%
2016
Gross capital formation, % of GDP
22%
2024
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/malaysia/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 (1990–2024, 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. 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)

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.