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Economy of Mozambique vs Nicaragua compared: GDP & Debt

Updated on by Georank

Mozambique has a GDP of $22.3B compared to $22.2B for Nicaragua, ranking 127/197 and 128/197 by economy size, respectively.

Mozambique has $22.9B in government debt (102.5% of GDP), compared to $7.74B (34.8% of GDP) in Nicaragua.

Mozambique vs Nicaragua GDP by year

Mozambique
Nicaragua
1x
Year GDP, current $
Mozambique Nicaragua
2025 $22,337,997,046 $22,237,167,113
2024 $22,752,244,245 $19,696,311,850
2023 $20,927,498,317 $17,805,842,221
2022 $18,884,232,599 $15,634,573,556
2021 $16,168,055,475 $14,209,019,392
2020 $14,235,420,174 $12,726,422,432
2019 $15,512,759,047 $12,699,023,614
2018 $15,017,358,953 $13,025,221,974
2017 $13,264,640,646 $13,785,893,007
2016 $12,069,051,237 $13,286,093,388
2015 $16,208,985,770 $12,756,696,261
2014 $17,978,246,586 $11,880,438,824
2013 $17,198,073,057 $10,982,988,249
2012 $16,688,114,144 $10,532,017,232
2011 $14,619,279,989 $9,774,329,333
2010 $11,411,894,724 $8,758,602,233
2009 $12,263,894,790 $8,298,702,489
2008 $12,920,340,965 $8,496,967,597
2007 $10,811,456,006 $7,423,375,015
2006 $9,509,835,537 $6,763,672,381
2005 $8,868,504,900 $6,321,324,279
2004 $7,937,255,565 $5,792,932,838
2003 $6,583,526,861 $5,322,228,351
2002 $5,950,769,427 $5,223,727,303
2001 $5,650,154,067 $5,351,752,034
2000 $5,930,685,215 $5,109,587,050
1999 $6,285,219,691 $4,856,026,259
1998 $5,551,118,149 $4,635,347,386
1997 $4,873,663,775 $4,389,973,490
1996 $4,030,146,135 $4,308,351,903
1995 $3,061,646,174 $4,140,470,000
1994 $2,958,108,170 $3,863,185,119
1993 $2,883,161,897 $1,756,454,248
1992 $2,798,696,511 $1,792,800,000
1991 $3,854,856,435 $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 (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Mozambique vs Nicaragua by year

Mozambique
GDP per capita

GDP per capita, PPP
Nicaragua
GDP per capita

GDP per capita, PPP
1x
Year Current $
Mozambique Nicaragua
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $627 - $3,173 -
2024 $657 $1,705 $2,848 $8,709
2023 $622 $1,678 $2,609 $8,320
2022 $578 $1,582 $2,323 $7,797
2021 $510 $1,457 $2,138 $7,119
2020 $462 $1,412 $1,938 $6,274
2019 $519 $1,389 $1,959 $5,981
2018 $518 $1,326 $2,035 $5,935
2017 $471 $1,283 $2,183 $6,225
2016 $441 $1,379 $2,132 $5,882
2015 $611 $1,318 $2,074 $5,449
2014 $697 $1,166 $1,958 $5,068
2013 $687 $1,114 $1,835 $4,711
2012 $686 $1,076 $1,785 $4,508
2011 $618 $1,064 $1,680 $4,325
2010 $496 $1,000 $1,527 $4,042
2009 $548 $951 $1,467 $3,880
2008 $592 $916 $1,524 $4,044
2007 $508 $862 $1,350 $3,891
2006 $457 $798 $1,248 $3,658
2005 $437 $721 $1,183 $3,456
2004 $400 $673 $1,099 $3,255
2003 $339 $620 $1,021 $3,046
2002 $314 $580 $1,014 $2,948
2001 $305 $533 $1,052 $2,917
2000 $327 $472 $1,017 $2,806
1999 $354 $468 $980 $2,672
1998 $320 $422 $949 $2,497
1997 $287.5 $387 $913 $2,418
1996 $244.4 $350 $911 $2,325
1995 $191.8 $321 $892 $2,187
1994 $196.8 $326 $849 $2,064
1993 $205.2 $321 $394 $1,998
1992 $205.6 $292 $411 $2,003
1991 $288.7 $315 $350 $1,995
1990 - $296 $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 (1960–2025, retrieved 2026-07-08).

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

Mozambique's GDP per capita is $627, ranking 193/197, compared to $3,173 in Nicaragua, ranking 140/197. Adjusted for purchasing power (GDP per capita PPP), Mozambique ranks 192nd at $1,705, while Nicaragua ranks 138th at $8,709.

Economic indicators

Mozambique Nicaragua
Gross domestic product
$22.3B
2025
$22.2B
2025
GDP rank
127/197
2025
128/197
2025
GDP growth
-0.52%
2024-2025
4.92%
2024-2025
GDP per capita
$627
2025
$3,173
2025
GDP per capita rank
193/197
2025
140/197
2025
GDP per capita, PPP
$1,705
2024
$8,709
2024
GDP per capita PPP rank
192/197
2024
138/197
2024
Government debt
$22.9B
2025
$7.74B
2025
Debt-to-GDP ratio
102.5%
2025
34.8%
2025
Government debt per person
$643
2025
$1,104
2025
Government debt per person rank
158/185
2025
142/185
2025
Average annual personal income after taxes
$1,324
2026
$1,939
2026
Income share by richest 10%
40.8%
2022
37.2%
2014
Income share by poorest 10%
1.7%
2022
2%
2014
Government expenditure, % of GDP
30.3%
2025
26.1%
2025
Consumer prices inflation
4.4%
2024-2025
2.1%
2024-2025
Central bank interest rate
9.25%
2026
6%
2025
Unemployment rate
6.79%
2022
5.2%
2018
Population
37173146
7144725

Spending and national debt comparison by year

Mozambique
Spending

Debt
Nicaragua
Spending

Debt
1x
Year % of GDP
Mozambique Nicaragua
Government spending Government debt Government spending Government debt
2025 30.3% 102.5% 26.1% 34.8%
2024 33.3% 91.4% 26.2% 37.9%
2023 33.3% 90.8% 26% 42.4%
2022 32.9% 100.4% 28.6% 45.9%
2021 32.1% 104.3% 30% 48.4%
2020 33.9% 120% 28.9% 49.2%
2019 28% 98.3% 27.7% 44.2%
2018 31.2% 105.5% 27.7% 39.1%
2017 28.6% 103.8% 27.3% 34.7%
2016 28.7% 124.8% 26.8% 30.9%
2015 32.2% 86% 25.4% 28.9%
2014 39.7% 63.4% 24.6% 28.7%
2013 31.7% 49.5% 24.2% 28.8%
2012 28.1% 36.7% 24.1% 27.9%
2011 28.9% 34.2% 23.5% 28.8%
2010 26.6% 38.6% 22.6% 30.3%
2009 25.7% 39.3% 22.7% 29.3%
2008 21.3% 32.8% 21.9% 26%
2007 20.9% 31.2% 21.5% 30.9%
2006 20.1% 40% 21.4% 51.2%
2005 17% 60.1% 21.3% 66.6%
2004 17.8% 50.8% 20.8% 84%
2003 18.6% 63.2% 20.9% 109.5%
2002 18.6% 63.4% 18.7% 110.4%
2001 20.8% 99.8% 19.2% 87.5%
2000 17.2% 95.8% 20.6% 95.2%
1999 15.6% 94.7% 22.1% 99.8%
1998 14.9% - 18.5% 86.5%
1997 16.5% - 17.9% 86.4%
1996 14.9% - 18% -
1995 18.8% - 17.7% -
1994 22.9% - 18.4% -
1993 20.7% - 18.4% -
1992 21.1% - 18.4% -
1991 17.3% - 16.8% -
1990 21% - 28.2% -
1989 27% - - -
1988 27% - 24.8% -
1987 22.9% - - 266.6%
1986 24.2% - 26.1% 159.2%
1985 21% - 29.9% 218%
1984 30.9% - 31.9% 198%
1983 35.3% - 33.8% 211.6%
1982 27% - 49.4% 159.1%
1981 23.8% - 39.3% 149.1%
1980 14.2% - 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/mozambique/nicaragua | CC BY

In 2025, Mozambique's government spending was $6.76B, accounting for 30.3% of its GDP, while Nicaragua spent $5.8B, or 26.1% of GDP.

Debt-to-GDP ratio is 102.5% in Mozambique and 34.8% in Nicaragua, ranking 21/185 and 145/185, respectively.

Government deficit by year

Deficit/surplus
Mozambique

Nicaragua
1x
Year Deficit/surplus, % of GDP
Mozambique Nicaragua
2025 -3.97% 2.1%
2024 -6.23% 2.25%
2023 -4.26% 2.3%
2022 -5.22% 0.65%
2021 -5.23% -1.26%
2020 -6.19% -2.57%
2019 1.7% -1.12%
2018 -5.7% -4.35%
2017 -1.99% -1.75%
2016 -5.06% -1.92%
2015 -6.55% -1.64%
2014 -9.75% -0.89%
2013 -2.46% -0.3%
2012 -3.45% 0.22%
2011 -4.34% 0.59%
2010 -3.4% 0.69%
2009 -4.35% -0.9%
2008 -1.9% 0.27%
2007 -2.19% 1.88%
2006 -3.03% 1.36%
2005 -2.06% 1.72%
2004 -3.17% 1.69%
2003 -2.64% 1.3%
2002 -3.36% 2.07%
2001 -4.43% 0.34%
2000 -1.26% 2.15%
1999 -0.31% -6.86%
1998 -1.08% -2.88%
1997 -1.81% -3.31%
1996 -2.07% -5%
1995 -2.46% -4.62%
1994 -4% -5.79%
1993 -2.53% -4.66%
1992 -1.85% -3.8%
1991 -2.01% -3.45%
1990 -4.42% -15.2%
1989 -4.23% -
1988 -6.47% -22.4%
1987 -7.24% -
1986 -12.1% -7.33%
1985 -9.69% -11.3%
1984 -13.4% -11.8%
1983 -15.8% -15.6%
1982 -3.61% -20.2%
1981 -7.41% -10.6%
1980 -1.47% -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/mozambique/nicaragua | CC BY

In 2025, Mozambique's government deficit, the difference between spending and revenue, was $886M, equivalent to 3.97% of GDP. This compares to Nicaragua's surplus of $467M, or 2.1% of GDP.

Over the past 35 years, Mozambique recorded a fiscal deficit in 34 of those years, while Nicaragua ran a deficit in 19 years. On average, Mozambique posted an annual deficit equal to 3.39% of GDP, compared to deficit of 1.01% of GDP for Nicaragua.

Inflation comparison by year

Inflation
Mozambique

Nicaragua
1x
Year Consumer prices inflation
Mozambique Nicaragua
2025 4.4% 2.1%
2024 3.2% 4.6%
2023 7% 8.4%
2022 10.4% 10.5%
2021 6.6% 4.9%
2020 0.9% 3.7%
2019 5.7% 5.4%
2018 3.2% 4.9%
2017 15.8% 3.9%
2016 18.4% 3.5%
2015 3.6% 4%
2014 2.6% 6%
2013 4.3% 7.1%
2012 2.6% 7.2%
2011 11.2% 8.1%
2010 12.4% 5.5%
2009 3.8% 3.7%
2008 14.5% 19.8%
2007 10.4% 11.1%
2006 13.2% 9.1%
2005 6.4% 9.6%
2004 12.6% 8.5%
2003 13.5% 5.3%
2002 16.8% 3.8%
2001 9.1% 7.4%
2000 12.7% 11.5%
1999 2.9% 11.2%
1998 1.5% 13%
1997 7.4% 9.2%

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

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

Over the past 29 years, Mozambique has recorded an average annual inflation rate of 8.18%, compared with 7.34% in Nicaragua. In 2025, inflation was 4.4% in Mozambique and 2.1% in Nicaragua.

Top exports between countries

Mozambique
Export category Export value
Processed food, beverages & tobacco $3K
Nicaragua
Export category Export value
Chemicals & pharma $15K
Processed food, beverages & tobacco $3K
Textiles & consumer goods $2K

Balance of trade

Mozambique Nicaragua
Current account balance
-$2.49B
2024
$818M
2024
Current account balance ranking
148/190
2024
52/190
2024
Current account balance, % of GDP
-11%
2024
+4.15%
2024
Goods imports
$8.38B
2024
$10.1B
2024
Goods exports
$8.21B
2024
$6.84B
2024
Service imports
$2.11B
2024
$1.31B
2024
Service exports
$1.15B
2024
$1.3B
2024
Imports of goods and services, % of GDP
55.7%
2025
54.9%
2025
Exports of goods and services, % of GDP
41.4%
2025
41.6%
2025

Economic freedom indices

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

Mozambique Nicaragua
Economic freedom 49.6 53.6
Economic freedom ranking 164/197 139/197
Property rights 29.7 23.8
Government integrity 25.1 13.4
Judicial effectiveness 43.4 8.8
Tax burden 75.8 74.5
Government spending 67 77.7
Fiscal health 39.1 96.9
Business freedom 40.2 54.4
Labor freedom 47.7 47.3
Monetary freedom 76.2 69.4
Trade freedom 71.2 67
Investment freedom 40 60
Financial freedom 40 50

Economic freedom comparison by year

Mozambique
Nicaragua
1x
Year Economic freedom index
Mozambique Nicaragua
2026 49.6 53.6
2025 50.7 54
2024 50.7 53.4
2023 52.5 54.9
2022 51.3 54.8
2021 51.6 56.3
2020 50.5 57.2
2019 48.6 57.7
2018 46.3 58.9
2017 49.9 59.2
2016 53.2 58.6
2015 54.8 57.6
2014 55 58.4
2013 55 56.6
2012 57.1 57.9
2011 56.8 58.8
2010 56 58.3
2009 55.7 59.8
2008 55.4 60.8
2007 54.7 62.7
2006 51.9 63.8
2005 54.6 62.5
2004 57.2 61.4
2003 58.6 62.6
2002 57.7 61.1
2001 59.2 58
2000 52.2 56.9
1999 48.9 54
1998 43 53.8
1997 44 53.3
1996 48.4 54.1
1995 45.5 42.5

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Mozambique is 49.6, ranking 164/197, 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

Mozambique Nicaragua
Services, % of GDP
42%
2025
45.2%
2025
Industry, % of GDP
22.1%
2025
29.3%
2025
Agriculture, forestry, and fishing, % of GDP
25.6%
2025
14.5%
2025
GNI, Atlas method
$20.4B
2025
$19.9B
2025
GNI per capita, PPP
$1,540
2025
$8,780
2025
Total reserves including gold
$3.84B
2024
$8.32B
2025
Total reserves ranking
112/177
2024
87/177
2025
Net foreign direct investment
-$3.55B
2024
-$1.28B
2024
Net inflows of foreign direct investment
$3.51B
2024
$1.35B
2024
Net outflows of foreign direct investment
-$44.1M
2024
$73.8M
2024
Servicing debt to the IMF, % of GNI
22.4%
2024
9.74%
2024
Poverty at national poverty lines
65%
2022
24.9%
2016
Gross capital formation, % of GDP
24.2%
2025
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/mozambique/nicaragua | CC BY

Compare countries by 7 more topics

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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. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2020–2025, 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.