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Nicaragua's economy ranking: GDP & GDP per capita, debt

Updated on by Georank team

Nicaragua ranked 131/197 by economy size with a GDP of $19.7B and 141/197 by GDP per capita at $2,848. Nicaragua has $7.7B in government debt, with a debt-to-GDP ratio of 38.4%.

In 2025, Nicaragua made up 0.02% of the world's economy, compared to 0.02% in 1960.

The chart below shows GDP in nominal terms, GDP adjusted for inflation (in constant dollars), and a bar chart of year-over-year inflation-adjusted growth.

GDP, current $
GDP, constant 2015 $
GDP growth
Year GDP GDP growth
Current $ Constant $
1960 $227,223,322 $2,980,615,374 -
1961 $244,144,237 $3,204,094,266 7.45%
1962 $269,283,804 $3,553,045,711 10.3%
1963 $297,324,163 $3,939,101,155 10.4%
1964 $347,119,918 $4,399,916,078 16.7%
1965 $564,290,020 $4,819,014,941 62.6%
1966 $607,140,010 $4,978,097,197 7.59%
1967 $657,140,011 $5,325,046,369 8.24%
1968 $692,859,985 $5,396,559,615 5.44%
1969 $750,000,003 $5,733,181,025 8.25%
1970 $778,569,939 $5,810,798,354 3.81%
1971 $828,569,953 $6,002,831,090 6.42%
1972 $878,570,045 $6,136,137,334 6.03%
1973 $1,092,900,015 $6,529,894,124 24.4%
1974 $1,521,400,012 $7,456,644,457 39.2%
1975 $1,581,599,959 $7,445,217,381 3.96%
1976 $1,836,899,999 $7,833,072,593 16.1%
1977 $2,226,999,874 $8,488,581,747 21.2%
1978 $2,127,699,979 $7,823,178,770 -4.46%
1979 $1,567,599,982 $5,751,695,781 -26.3%
1980 $2,144,300,006 $6,016,948,592 36.8%
1981 $2,474,700,227 $6,339,655,005 15.4%
1982 $2,454,499,872 $6,287,900,476 -0.82%
1983 $2,753,100,058 $6,577,974,632 12.2%
1984 $3,117,599,872 $6,474,957,371 13.2%
1985 $2,683,699,935 $6,210,659,228 -13.9%
1986 $2,885,799,994 $6,147,477,622 7.53%
1987 $3,851,200,118 $6,104,054,733 33.5%
1988 $2,630,900,096 $5,344,110,782 -31.7%
1989 $1,013,184,756 $5,251,218,576 -61.5%
1990 $1,009,455,484 $5,248,461,701 -0.37%
1991 $1,488,804,124 $5,238,527,334 47.5%
1992 $1,792,800,000 $5,258,766,205 20.4%
1993 $1,756,454,248 $5,238,102,617 -2.03%
1994 $3,863,185,119 $5,412,936,136 119.9%
1995 $4,140,470,000 $5,732,943,937 7.18%
1996 $4,308,351,903 $6,096,657,285 4.05%
1997 $4,389,973,490 $6,338,490,398 1.89%
1998 $4,635,347,386 $6,573,754,971 5.59%
1999 $4,856,026,259 $7,036,282,429 4.76%
2000 $5,109,587,050 $7,324,881,903 5.22%
2001 $5,351,752,034 $7,541,760,192 4.74%
2002 $5,223,727,303 $7,598,620,454 -2.39%
2003 $5,322,228,351 $7,790,161,380 1.89%
2004 $5,792,932,838 $8,203,988,040 8.84%
2005 $6,321,324,279 $8,555,315,487 9.12%
2006 $6,763,672,381 $8,910,613,085 7%
2007 $7,423,375,015 $9,362,947,173 9.75%
2008 $8,496,967,597 $9,684,631,534 14.5%
2009 $8,298,702,489 $9,365,749,046 -2.33%
2010 $8,758,602,233 $9,778,787,862 5.54%
2011 $9,774,329,333 $10,396,483,140 11.6%
2012 $10,532,017,232 $11,071,852,873 7.75%
2013 $10,982,988,249 $11,617,373,487 4.28%
2014 $11,880,438,824 $12,173,318,264 8.17%
2015 $12,756,696,261 $12,756,696,261 7.38%
2016 $13,286,093,388 $13,338,803,114 4.15%
2017 $13,785,893,007 $13,956,550,775 3.76%
2018 $13,025,221,974 $13,487,142,195 -5.52%
2019 $12,699,023,614 $13,096,437,236 -2.5%
2020 $12,726,422,432 $12,803,529,948 0.22%
2021 $14,209,020,362 $14,142,060,837 11.6%
2022 $15,634,572,502 $14,644,146,346 10%
2023 $17,805,842,284 $15,292,551,635 13.9%
2024 $19,693,982,968 $15,841,222,425 10.6%

Economic Statistics of Nicaragua

Nicaragua Rank
Gross domestic product
$19.7B
2024
131/197
GDP growth
10.6%
2023-2024
32/196
GDP per capita
$2,848
2024
141/197
GDP per capita, PPP
$8,709
2024
135/197
Government debt
$7.7B
2024
134/185
Debt-to-GDP ratio
38.4%
2025
140/185
Government debt per person
$1,114
2024
139/185
Average annual personal income after taxes
$2,445
2025
155/197
Income share by richest 10%
37.2%
2014
13/169
Income share by poorest 10%
2%
2014
138/169
Government expenditure, % of GDP
27.2%
2025
115/195
Consumer prices inflation
2%
2024-2025
141/195
Central bank interest rate
6.5%
2024
46/105
Unemployment rate
5.2%
2018
97/196
Population
7079664
108/197

Nicaragua's GDP per capita

Nicaragua has a GDP per capita of $2,848, ranking 141/197, a GDP per capita based on purchasing power parity (PPP) of $8,709, ranking 135/197, and a median annual after tax income of $2,445, ranking 155/197.

GDP per capita
GDP per capita, PPP
Year Current $
GDP per capita GDP per capita, PPP
1960 $127.5 -
1961 $132.9 -
1962 $142.3 -
1963 $152.5 -
1964 $172.7 -
1965 $272.3 -
1966 $284 -
1967 $297.9 -
1968 $304 -
1969 $319 -
1970 $321 -
1971 $331 -
1972 $341 -
1973 $413 -
1974 $557 -
1975 $561 -
1976 $633 -
1977 $744 -
1978 $691 -
1979 $495 -
1980 $659 -
1981 $740 -
1982 $714 -
1983 $780 -
1984 $861 -
1985 $724 -
1986 $761 -
1987 $992 -
1988 $662 -
1989 $249.2 -
1990 $242.5 $1,979
1991 $350 $1,995
1992 $411 $2,003
1993 $394 $1,998
1994 $849 $2,064
1995 $892 $2,187
1996 $911 $2,325
1997 $913 $2,418
1998 $949 $2,497
1999 $980 $2,672
2000 $1,017 $2,806
2001 $1,052 $2,917
2002 $1,014 $2,948
2003 $1,021 $3,046
2004 $1,099 $3,255
2005 $1,183 $3,456
2006 $1,248 $3,658
2007 $1,350 $3,891
2008 $1,524 $4,044
2009 $1,467 $3,880
2010 $1,527 $4,042
2011 $1,680 $4,325
2012 $1,785 $4,508
2013 $1,835 $4,711
2014 $1,958 $5,068
2015 $2,074 $5,449
2016 $2,132 $5,882
2017 $2,183 $6,225
2018 $2,035 $5,935
2019 $1,959 $5,981
2020 $1,938 $6,274
2021 $2,138 $7,119
2022 $2,323 $7,797
2023 $2,609 $8,320
2024 $2,848 $8,709

Nicaragua's government spending, deficit, and chart

This chart shows Nicaragua's government spending, budget balance, and debt over time, each expressed as a share of GDP.

Over the past 50 years, Nicaragua recorded a fiscal deficit in 34 years — average annual deficit equal to -3.85% of GDP. In 2024, government spending reached $5.14B (27.2% of GDP), with a surplus of +0.86%.

The national debt reached $7.7B, ranking 134th out of 185 countries by total size, with a debt-to-GDP ratio of 38.4%, ranking 140th.

Government spending
Government debt
Deficit/surplus
Year % of GDP
Government spending Government debt Government deficit/surplus
1960 11.2% - -1.28%
1961 9.93% - 0.04%
1962 10.6% - -0.29%
1963 10.5% - 0.75%
1964 10.2% - 0.2%
1965 10.9% - 0.3%
1966 12.2% - -1.04%
1967 12.7% - -2.11%
1968 10.9% - -1.21%
1969 11.1% - -1.57%
1970 13.2% 35.4% -2.69%
1971 15.1% 31.6% -2.33%
1972 15.1% 30.2% -2.61%
1973 12.8% 32.9% 1.21%
1974 15.3% 40% -1.41%
1975 17.5% 57.8% -3.53%
1976 16.2% 59.5% -2.2%
1977 19.9% 62.7% -5.91%
1978 17.7% 76.9% -4.44%
1979 20.7% 116.3% -5.89%
1980 30.4% 152.1% -6.53%
1981 39.3% 149.1% -10.6%
1982 49.4% 159.1% -20.2%
1983 33.8% 211.6% -15.6%
1984 31.9% 198% -11.8%
1985 29.9% 218% -11.3%
1986 26.1% 159.2% -7.33%
1987 - 266.6% -7.33%
1988 24.8% - -22.4%
1989 - - -9.25%
1990 28.2% - -15.2%
1991 16.8% - -3.45%
1992 18.4% - -3.8%
1993 18.4% - -4.66%
1994 18.4% - -5.79%
1995 17.7% - -4.62%
1996 18% - -5%
1997 17.9% 86.4% -3.31%
1998 18.5% 86.5% -2.88%
1999 22.1% 99.8% -6.86%
2000 20.6% 95.2% 2.15%
2001 19.2% 87.5% 0.34%
2002 18.7% 110.4% 2.07%
2003 20.9% 109.5% 1.3%
2004 20.8% 84% 1.69%
2005 21.3% 66.6% 1.72%
2006 21.4% 51.2% 1.36%
2007 21.5% 30.9% 1.88%
2008 21.9% 26% 0.27%
2009 22.7% 29.3% -0.9%
2010 22.6% 30.3% 0.69%
2011 23.5% 28.8% 0.59%
2012 24.1% 27.9% 0.22%
2013 24.2% 28.8% -0.3%
2014 24.6% 28.7% -0.89%
2015 25.4% 28.9% -1.64%
2016 26.8% 30.9% -1.92%
2017 27.3% 34.7% -1.75%
2018 27.7% 39.1% -4.35%
2019 27.7% 44.2% -1.12%
2020 28.9% 49.2% -2.57%
2021 30% 48.4% -1.26%
2022 28.6% 45.9% 0.65%
2023 26.1% 42.3% 2.33%
2024 26.1% 39.1% 2.45%
2025 27.2% 38.4% 0.86%

Inflation rate by year

Over the past 20 years, Nicaragua has had an average annual inflation rate of 6.67%. In 2025, inflation was 2%. The bar chart below shows consumer price inflation by year.

Year Inflation
1980 35.1%
1981 23.8%
1982 28.5%
1983 33.6%
1984 141.3%
1985 571%
1986 885%
1987 13,110%
1988 4,775%
1989 7,429%
1990 3,004%
1991 116.6%
1992 21.9%
1993 13.5%
1994 3.7%
1995 11.1%
1996 11.7%
1997 9.2%
1998 13%
1999 11.2%
2000 11.5%
2001 7.4%
2002 3.8%
2003 5.3%
2004 8.5%
2005 9.6%
2006 9.1%
2007 11.1%
2008 19.8%
2009 3.7%
2010 5.5%
2011 8.1%
2012 7.2%
2013 7.1%
2014 6%
2015 4%
2016 3.5%
2017 3.9%
2018 4.9%
2019 5.4%
2020 3.7%
2021 4.9%
2022 10.5%
2023 8.4%
2024 4.6%
2025 2%

Balance of trade

Nicaragua Rank
Current account balance
$818M
2024
54/189
Current account balance, % of GDP
+4.15%
2024
37/189
Goods imports
$10.1B
2024
106/188
Goods exports
$6.84B
2024
111/188
Service imports
$1.31B
2024
136/188
Service exports
$1.3B
2024
122/188
Imports of goods and services, % of GDP
58.1%
2024
53/180
Exports of goods and services, % of GDP
40.5%
2024
79/193

Nicaragua's top 10 trading partners

Nicaragua's biggest trading partner accounting for 33.7%% of all exports and imports is the United States, with a trade balance between the two of +$877M — Nicaragua exports $3.63B worth of goods and services to the United States and imports $2.75B.

Below is the list of the top 10 trade partners of Nicaragua.

Rank Country Trade value Share of total trade Export to Import from Top export to Top import from
1 United States $6.38B 33.7% $3.63B $2.75B Textiles & consumer goods Raw materials & minerals
2 Mexico $1.98B 10.5% $983M $996M Machinery & equipment Machinery & equipment
3 China $1.73B 9.14% $82.1M $1.65B Processed food, beverages & tobacco Machinery & equipment
4 Honduras $1.42B 7.51% $411M $1.01B Textiles & consumer goods Textiles & consumer goods
5 Guatemala $1.09B 5.75% $163M $924M Animal & marine products Chemicals & pharma
6 El Salvador $925M 4.89% $476M $449M Animal & marine products Chemicals & pharma
7 Costa Rica $898M 4.75% $224M $674M Animal & marine products Processed food, beverages & tobacco
8 Canada $622M 3.29% $539M $83.1M Precious metals & jewellery Raw materials & minerals
9 India $395M 2.09% $14.4M $380M Metals Textiles & consumer goods
10 Ecuador $296M 1.56% $27.8M $268M Animal & marine products Raw materials & minerals

Nicaragua's top 10 exports

Nicaragua Rank
Textiles & consumer goods $1.85B 62/193
Precious metals & jewellery $1.39B 57/190
Animal & marine products $1.3B 50/192
Processed food, beverages & tobacco $1.02B 78/192
Raw agricultural goods $915M 73/193
Transport & tourism services $824M 124/188
Machinery & equipment $811M 86/193
IT & IP services $282M 82/183
Manufacturing & construction services $275M 67/164
Government & miscellaneous services $109M 73/180

Nicaragua's top 10 imports

Nicaragua Rank
Machinery & equipment $2.56B 117/193
Textiles & consumer goods $2.16B 74/193
Raw materials & minerals $1.92B 118/193
Chemicals & pharma $1.74B 93/193
Processed food, beverages & tobacco $1.27B 86/193
Transport & tourism services $803M 128/188
Metals $714M 107/193
Raw agricultural goods $463M 112/193
Wood & paper products $303M 99/193
Business & finance services $266M 131/188

Economic freedom indices

Nicaragua Rank
Economic freedom 54 139/197
Property rights 28.2 148/182
Government integrity 13.6 148/182
Judicial effectiveness 9.1 148/182
Tax burden 77.7 103/181
Government spending 75.9 79/180
Fiscal health 95.8 26/181
Business freedom 55.8 120/182
Labor freedom 47.3 158/182
Monetary freedom 66.4 138/180
Trade freedom 68.2 113/181
Investment freedom 60 78/181
Financial freedom 50 94/181

Nicaragua's economic freedom by year

Nicaragua is ranked 125/180 for economic freedom with a score of 54, compared to 58/163 and a score of 62.5 in 2005.

Economic freedom
Judicial effectiveness
Tax burden
Government spending
Fiscal health
Year Index
Economic freedom Judicial effectiveness Tax burden Government spending Fiscal health
1995 42.5 - 78.3 75.1 -
1996 54.1 - 78.6 68.5 -
1997 53.3 - 78.3 61.1 -
1998 53.8 - 77.8 58.3 -
1999 54 - 77.7 59.4 -
2000 56.9 - 76.1 76.5 -
2001 58 - 80.8 71.2 -
2002 61.1 - 81.3 81.3 -
2003 62.6 - 81.8 82.3 -
2004 61.4 - 85.6 82.6 -
2005 62.5 - 82.9 82.4 -
2006 63.8 - 79.8 78.1 -
2007 62.7 - 79.6 78.5 -
2008 60.8 - 79 77.6 -
2009 59.8 - 78.8 71 -
2010 58.3 - 78.4 78.5 -
2011 58.8 - 78.8 81.3 -
2012 57.9 - 77.1 83 -
2013 56.6 - 78.7 65.1 -
2014 58.4 - 78.6 80 -
2015 57.6 - 78.4 76.6 -
2016 58.6 - 78 82.8 -
2017 59.2 15.9 77.2 80.8 96.1
2018 58.9 19 77.2 80 94.8
2019 57.7 18.7 76.9 79.1 93.9
2020 57.2 19.5 76.3 77.5 87.2
2021 56.3 19 77.1 77.5 91.8
2022 54.8 19.5 75.3 76.2 87.3
2023 54.9 17.6 75.6 74.4 92
2024 53.4 10.5 74.6 74.3 94.9
2025 54 9.1 77.7 75.9 95.8

More economic indicators

Nicaragua Rank
Services, % of GDP
46.8%
2024
149/191
Industry, % of GDP
27.6%
2024
71/194
Agriculture, forestry, and fishing, % of GDP
14.4%
2024
55/193
GNI, Atlas method
$17.4B
2024
132/194
GNI per capita, PPP
$8,270
2024
133/191
Total reserves including gold
$6.1B
2024
91/177
Net foreign direct investment
-$1.28B
2024
126/188
Net inflows of foreign direct investment
$1.35B
2024
86/193
Net outflows of foreign direct investment
$73.8M
2024
91/187
Servicing debt to the IMF, % of GNI
13.8%
2023
9/119
Poverty at national poverty lines
24.9%
2016
74/176
Gross capital formation, % of GDP
24.7%
2024
71/176

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GDP per capita map

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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.