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Economy of Malta vs Nicaragua compared: GDP & Debt

Updated on by Georank team

Malta has a GDP of $25B compared to $19.7B for Nicaragua, ranking 119/197 and 131/197 by economy size, respectively.

Malta has $11.5B in government debt (46.2% of GDP), compared to $7.71B (39.1% of GDP) in Nicaragua.

Malta vs Nicaragua GDP by year

Malta
Nicaragua
1x
Year GDP, current $
Malta Nicaragua
2024 $24,971,574,502 $19,693,982,968
2023 $22,610,561,526 $17,805,842,284
2022 $18,928,276,162 $15,634,572,502
2021 $19,739,875,611 $14,209,020,362
2020 $16,404,663,226 $12,726,422,432
2019 $16,337,793,531 $12,699,023,614
2018 $16,153,779,511 $13,025,221,974
2017 $14,161,366,724 $13,785,893,007
2016 $12,025,782,834 $13,286,093,388
2015 $11,340,795,042 $12,756,696,261
2014 $11,888,032,874 $11,880,438,824
2013 $10,796,782,636 $10,982,988,249
2012 $9,609,532,089 $10,532,017,232
2011 $9,789,361,703 $9,774,329,333
2010 $9,097,044,159 $8,758,602,233
2009 $8,734,745,698 $8,298,702,489
2008 $9,135,419,465 $8,496,967,597
2007 $7,908,412,306 $7,423,375,015
2006 $6,749,838,806 $6,763,672,381
2005 $6,393,234,993 $6,321,324,279
2004 $6,104,141,520 $5,792,932,838
2003 $5,418,315,224 $5,322,228,351
2002 $4,455,127,414 $5,223,727,303
2001 $4,070,867,133 $5,351,752,034
2000 $4,036,809,815 $5,109,587,050
1999 $4,111,857,809 $4,856,026,259
1998 $4,010,111,688 $4,635,347,386
1997 $3,787,023,707 $4,389,973,490
1996 $3,822,547,197 $4,308,351,903
1995 $3,709,396,045 $4,140,470,000
1994 $2,998,505,428 $3,863,185,119
1993 $2,709,193,538 $1,756,454,248
1992 $3,021,942,759 $1,792,800,000
1991 $2,750,216,747 $1,488,804,124
1990 $2,547,328,748 $1,009,455,484
1989 $2,118,655,677 $1,013,184,756
1988 $2,019,503,068 $2,630,900,096
1987 $1,751,293,461 $3,851,200,118
1986 $1,435,038,441 $2,885,799,994
1985 $1,117,797,439 $2,683,699,935
1984 $1,101,807,023 $3,117,599,872
1983 $1,165,729,707 $2,753,100,058
1982 $1,234,474,404 $2,454,499,872
1981 $1,243,509,394 $2,474,700,227
1980 $1,250,198,601 $2,144,300,006
1979 $1,001,288,847 $1,567,599,982
1978 $793,673,402 $2,127,699,979
1977 $625,563,171 $2,226,999,874
1976 $527,936,989 $1,836,899,999
1975 $474,618,321 $1,581,599,959
1974 $376,081,124 $1,521,400,012
1973 $345,616,106 $1,092,900,015
1972 $295,106,628 $878,570,045
1971 $264,578,485 $828,569,953
1970 $250,728,796 $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/malta/nicaragua | CC BY

GDP per capita in Malta vs Nicaragua by year

Malta
GDP per capita

GDP per capita, PPP
Nicaragua
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malta Nicaragua
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $43,899 $69,864 $2,848 $8,709
2023 $40,906 $67,057 $2,609 $8,320
2022 $35,639 $60,589 $2,323 $7,797
2021 $38,097 $56,852 $2,138 $7,119
2020 $31,823 $49,972 $1,938 $6,274
2019 $32,422 $51,393 $1,959 $5,981
2018 $33,382 $48,178 $2,035 $5,935
2017 $30,317 $45,764 $2,183 $6,225
2016 $26,459 $41,000 $2,132 $5,882
2015 $25,530 $38,369 $2,074 $5,449
2014 $27,425 $35,206 $1,958 $5,068
2013 $25,416 $33,138 $1,835 $4,711
2012 $22,878 $30,716 $1,785 $4,508
2011 $23,517 $29,426 $1,680 $4,325
2010 $21,947 $28,909 $1,527 $4,042
2009 $21,176 $26,782 $1,467 $3,880
2008 $22,315 $26,654 $1,524 $4,044
2007 $19,444 $25,012 $1,350 $3,891
2006 $16,654 $23,219 $1,248 $3,658
2005 $15,831 $22,227 $1,183 $3,456
2004 $15,212 $21,566 $1,099 $3,255
2003 $13,594 $20,813 $1,021 $3,046
2002 $11,251 $19,532 $1,014 $2,948
2001 $10,358 $18,435 $1,052 $2,917
2000 $10,348 $18,214 $1,017 $2,806
1999 $10,609 $16,898 $980 $2,672
1998 $10,408 $16,219 $949 $2,497
1997 $9,893 $15,465 $913 $2,418
1996 $10,062 $14,661 $911 $2,325
1995 $9,828 $13,950 $892 $2,187
1994 $8,000 $12,938 $849 $2,064
1993 $7,296 $12,103 $394 $1,998
1992 $8,220 $11,429 $411 $2,003
1991 $7,559 $10,784 $350 $1,995
1990 $7,192 $10,086 $242.5 $1,979
1989 $6,041 - $249.2 -
1988 $5,814 - $662 -
1987 $5,084 - $992 -
1986 $4,195 - $761 -
1985 $3,322 - $724 -
1984 $3,333 - $861 -
1983 $3,527 - $780 -
1982 $3,788 - $714 -
1981 $3,898 - $740 -
1980 $3,948 - $659 -
1979 $3,196 - $495 -
1978 $2,559 - $691 -
1977 $2,038 - $744 -
1976 $1,727 - $633 -
1975 $1,560 - $561 -
1974 $1,245 - $557 -
1973 $1,144 - $413 -
1972 $976 - $341 -
1971 $874 - $331 -
1970 $828 - $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/malta/nicaragua | CC BY

Malta's GDP per capita is $43,899, ranking 28/197, compared to $2,848 in Nicaragua, ranking 141/197. Adjusted for purchasing power (GDP per capita PPP), Malta ranks 25th at $69,864, while Nicaragua ranks 138th at $8,709.

Economic indicators

Malta Nicaragua
Gross domestic product
$25B
2024
$19.7B
2024
GDP rank
119/197
2024
131/197
2024
GDP growth
6.8%
2023-2024
3.59%
2023-2024
GDP per capita
$43,899
2024
$2,848
2024
GDP per capita rank
28/197
2024
141/197
2024
GDP per capita, PPP
$69,864
2024
$8,709
2024
GDP per capita PPP rank
25/197
2024
138/197
2024
Government debt
$11.5B
2024
$7.71B
2024
Debt-to-GDP ratio
46.2%
2024
39.1%
2024
Government debt per person
$20,269
2024
$1,115
2024
Government debt per person rank
31/185
2024
138/185
2024
Average annual personal income after taxes
$23,692
2026
$2,318
2026
Market capitalization of domestic companies
$4.29B
2024
n/a
Income share by richest 10%
27.7%
2022
37.2%
2014
Income share by poorest 10%
2.7%
2022
2%
2014
Government expenditure, % of GDP
37.3%
2024
27.1%
2024
Consumer prices inflation
1.65%
2023-2024
4.6%
2023-2024
Central bank interest rate n/a
6%
2025
Unemployment rate
3.12%
2024
5.2%
2018
Population
581729
7124343

Spending and national debt comparison by year

Malta
Spending

Debt
Nicaragua
Spending

Debt
1x
Year % of GDP
Malta Nicaragua
Government spending Government debt Government spending Government debt
2024 37.3% 46.2% 27.1% 39.1%
2023 36.1% 46.8% 26% 42.3%
2022 38.3% 50.1% 28.6% 45.9%
2021 39.4% 49.6% 30% 48.4%
2020 42.1% 48.6% 28.9% 49.2%
2019 34.9% 39.2% 27.7% 44.2%
2018 34.5% 41.4% 27.7% 39.1%
2017 32.7% 45.6% 27.3% 34.7%
2016 35.5% 53.1% 26.8% 30.9%
2015 37.8% 55% 25.4% 28.9%
2014 39.6% 60.7% 24.6% 28.7%
2013 40.1% 64.9% 24.2% 28.8%
2012 41.7% 65.6% 24.1% 27.9%
2011 41.5% 68.9% 23.5% 28.8%
2010 40.1% 65% 22.6% 30.3%
2009 41.1% 66% 22.7% 29.3%
2008 42.1% 61.5% 21.9% 26%
2007 41.2% 62% 21.5% 30.9%
2006 42.5% 64.5% 21.4% 51.2%
2005 42.5% 70.2% 21.3% 66.6%
2004 42% 70.4% 20.8% 84%
2003 45.6% 68.6% 20.9% 109.5%
2002 43.6% 65.1% 18.7% 110.4%
2001 44.4% 70% 19.2% 87.5%
2000 42.9% 64.4% 20.6% 95.2%
1999 - 69.8% 22.1% 99.8%
1998 - 66.4% 18.5% 86.5%
1997 - 60.8% 17.9% 86.4%
1996 - 51.5% 18% -
1995 - 45.3% 17.7% -
1994 - - 18.4% -
1993 - - 18.4% -
1992 - - 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 (1995–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-02-20).

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

In 2024, Malta's government spending was $9.32B, accounting for 37.3% of its GDP, while Nicaragua spent $5.34B, or 27.1% of GDP.

Debt-to-GDP ratio is 46.2% in Malta and 39.1% in Nicaragua, ranking 118/185 and 136/185, respectively.

Government deficit by year

Deficit/surplus
Malta

Nicaragua
1x
Year Deficit/surplus, % of GDP
Malta Nicaragua
2024 -3.58% 2.48%
2023 -4.65% 2.31%
2022 -5.31% 0.65%
2021 -6.95% -1.26%
2020 -8.72% -2.57%
2019 0.72% -1.12%
2018 1.86% -4.35%
2017 3.4% -1.75%
2016 1.1% -1.92%
2015 -0.84% -1.64%
2014 -1.49% -0.89%
2013 -2.19% -0.3%
2012 -3.31% 0.22%
2011 -2.99% 0.59%
2010 -2.22% 0.69%
2009 -3.11% -0.9%
2008 -4.06% 0.27%
2007 -2.05% 1.88%
2006 -2.46% 1.36%
2005 -2.83% 1.72%
2004 -4.28% 1.69%
2003 -9.04% 1.3%
2002 -5.62% 2.07%
2001 -6.5% 0.34%
2000 -5.83% 2.15%
1999 - -6.86%
1998 - -2.88%
1997 - -3.31%
1996 - -5%
1995 - -4.62%
1994 - -5.79%
1993 - -4.66%
1992 - -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 (2000–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-02-20).

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

In 2024, Malta's government deficit, the difference between spending and revenue, was $893M, equivalent to 3.58% of GDP. This compares to Nicaragua's surplus of $489M, or 2.48% of GDP.

Over the past 25 years, Malta recorded a fiscal deficit in 21 of those years, while Nicaragua ran a deficit in 10 years. On average, Malta posted an annual deficit equal to 3.24% of GDP, compared to surplus of 0.12% of GDP for Nicaragua.

Inflation comparison by year

Inflation
Malta

Nicaragua
1x
Year Consumer prices inflation
Malta Nicaragua
2024 1.65% 4.6%
2023 5.09% 8.4%
2022 6.15% 10.5%
2021 1.5% 4.9%
2020 0.64% 3.7%
2019 1.64% 5.4%
2018 1.16% 4.9%
2017 1.36% 3.9%
2016 0.64% 3.5%
2015 1.1% 4%
2014 0.31% 6%
2013 1.18% 7.1%
2012 2.38% 7.2%
2011 2.96% 8.1%
2010 1.52% 5.5%
2009 2.08% 3.7%
2008 4.26% 19.8%
2007 1.25% 11.1%
2006 2.77% 9.1%
2005 3.01% 9.6%
2004 2.79% 8.5%
2003 1.3% 5.3%
2002 2.19% 3.8%
2001 2.93% 7.4%
2000 2.37% 11.5%
1999 2.13% 11.2%
1998 2.39% 13%
1997 3.11% 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/malta/nicaragua | CC BY

Over the past 28 years, Malta has recorded an average annual inflation rate of 2.21%, compared with 7.53% in Nicaragua. In 2024, inflation was 1.65% in Malta and 4.6% in Nicaragua.

Top exports between countries

Malta
Export category Export value
Textiles & consumer goods $8K
Nicaragua
Export category Export value
Processed food, beverages & tobacco $21K

Balance of trade

Malta Nicaragua
Current account balance
$1.78B
2024
$818M
2024
Current account balance ranking
47/190
2024
55/190
2024
Current account balance, % of GDP
+7.12%
2024
+4.15%
2024
Goods imports
$7.56B
2024
$10.1B
2024
Goods exports
$4.58B
2024
$6.84B
2024
Service imports
$17.4B
2024
$1.31B
2024
Service exports
$25B
2024
$1.3B
2024
Imports of goods and services, % of GDP
99.7%
2024
58.1%
2024
Exports of goods and services, % of GDP
118.5%
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.

Malta Nicaragua
Economic freedom 68.2 53.6
Economic freedom ranking 49/197 139/197
Property rights 85.5 23.8
Government integrity 54.3 13.4
Judicial effectiveness 80.2 8.8
Tax burden 68.5 74.5
Government spending 58.4 77.7
Fiscal health 63.2 96.9
Business freedom 83.2 54.4
Labor freedom 62.6 47.3
Monetary freedom 73.1 69.4
Trade freedom 79.4 67
Investment freedom 60 60
Financial freedom 50 50

Economic freedom comparison by year

Malta
Nicaragua
1x
Year Economic freedom index
Malta Nicaragua
2026 68.2 53.6
2025 66.8 54
2024 64.5 53.4
2023 67.5 54.9
2022 71.5 54.8
2021 70.2 56.3
2020 69.5 57.2
2019 68.6 57.7
2018 68.5 58.9
2017 67.7 59.2
2016 66.7 58.6
2015 66.5 57.6
2014 66.4 58.4
2013 67.5 56.6
2012 67 57.9
2011 65.7 58.8
2010 67.2 58.3
2009 66.1 59.8
2008 66 60.8
2007 66.1 62.7
2006 67.3 63.8
2005 68.9 62.5
2004 63.3 61.4
2003 61.1 62.6
2002 62.2 61.1
2001 62.9 58
2000 58.3 56.9
1999 59.3 54
1998 61.2 53.8
1997 57.9 53.3
1996 55.8 54.1
1995 56.3 42.5

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

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

The Economic Freedom Index for Malta is 68.2, ranking 49/197, 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

Malta Nicaragua
Services, % of GDP
81.8%
2024
46.8%
2024
Industry, % of GDP
10.7%
2024
27.6%
2024
Agriculture, forestry, and fishing, % of GDP
0.23%
2024
14.4%
2024
GNI, Atlas method
$20.9B
2024
$17.4B
2024
GNI per capita, PPP
$61,340
2024
$8,270
2024
Total reserves including gold
$1.42B
2024
$6.1B
2024
Total reserves ranking
137/177
2024
91/177
2024
Net foreign direct investment
-$6.13B
2024
-$1.28B
2024
Net inflows of foreign direct investment
$42.6B
2024
$1.35B
2024
Net outflows of foreign direct investment
$36.5B
2024
$73.8M
2024
Servicing debt to the IMF, % of GNI n/a
9.74%
2024
Poverty at national poverty lines
16.7%
2021
24.9%
2016
Gross capital formation, % of GDP
19%
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/malta/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 (1995–2024, 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 (2021–2024, 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.