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Economy of Nicaragua vs Palau compared: GDP & Debt

Updated on by Georank team

Nicaragua has a GDP of $19.7B compared to $282M for Palau, ranking 131/197 and 193/197 by economy size, respectively.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Nicaragua
GDP, current $

GDP, constant 2015 $
Palau
GDP, current $

GDP, constant 2015 $
Year GDP
Nicaragua Palau
Current $ Constant $ Current $ Constant $
1960 $227,223,322 $2,980,615,374 - -
1961 $244,144,237 $3,204,094,266 - -
1962 $269,283,804 $3,553,045,711 - -
1963 $297,324,163 $3,939,101,155 - -
1964 $347,119,918 $4,399,916,078 - -
1965 $564,290,020 $4,819,014,941 - -
1966 $607,140,010 $4,978,097,197 - -
1967 $657,140,011 $5,325,046,369 - -
1968 $692,859,985 $5,396,559,615 - -
1969 $750,000,003 $5,733,181,025 - -
1970 $778,569,939 $5,810,798,354 $11,563,041 $145,352,813
1971 $828,569,953 $6,002,831,090 $12,706,874 $145,536,452
1972 $878,570,045 $6,136,137,334 $13,956,474 $146,033,169
1973 $1,092,900,015 $6,529,894,124 $15,331,889 $146,328,192
1974 $1,521,400,012 $7,456,644,457 $16,848,759 $146,482,619
1975 $1,581,599,959 $7,445,217,381 $18,521,112 $146,519,630
1976 $1,836,899,999 $7,833,072,593 $20,364,420 $146,458,790
1977 $2,226,999,874 $8,488,581,747 $22,308,104 $148,553,303
1978 $2,127,699,979 $7,823,178,770 $24,530,015 $147,827,479
1979 $1,567,599,982 $5,751,695,781 $27,004,251 $147,274,387
1980 $2,144,300,006 $6,016,948,592 $29,728,054 $146,723,368
1981 $2,474,700,227 $6,339,655,005 $32,726,594 $146,174,407
1982 $2,454,499,872 $6,287,900,476 $36,027,583 $145,627,496
1983 $2,753,100,058 $6,577,974,632 $39,661,530 $148,441,032
1984 $3,117,599,872 $6,474,957,371 $44,814,259 $155,301,972
1985 $2,683,699,935 $6,210,659,228 $51,030,637 $163,744,973
1986 $2,885,799,994 $6,147,477,622 $58,109,314 $172,646,979
1987 $3,851,200,118 $6,104,054,733 $66,169,905 $182,032,942
1988 $2,630,900,096 $5,344,110,782 $75,348,615 $191,929,175
1989 $1,013,184,756 $5,251,218,576 $85,800,543 $202,363,417
1990 $1,009,455,484 $5,248,461,701 $97,702,303 $213,364,917
1991 $1,488,804,124 $5,238,527,334 $106,555,300 $223,830,946
1992 $1,792,800,000 $5,258,766,205 $104,771,300 $209,505,677
1993 $1,756,454,248 $5,238,102,617 $96,455,700 $183,736,397
1994 $3,863,185,119 $5,412,936,136 $106,138,500 $197,149,210
1995 $4,140,470,000 $5,732,943,937 $121,018,500 $218,638,452
1996 $4,308,351,903 $6,096,657,285 $137,494,600 $241,376,946
1997 $4,389,973,490 $6,338,490,398 $143,860,800 $246,928,594
1998 $4,635,347,386 $6,573,754,971 $149,079,600 $251,867,130
1999 $4,856,026,259 $7,036,282,429 $144,206,500 $238,266,284
2000 $5,109,587,050 $7,324,881,903 $149,535,800 $232,062,062
2001 $5,351,752,034 $7,541,760,192 $159,453,500 $247,147,106
2002 $5,223,727,303 $7,598,620,454 $162,665,500 $259,544,370
2003 $5,322,228,351 $7,790,161,380 $154,559,900 $251,178,536
2004 $5,792,932,838 $8,203,988,040 $166,391,600 $261,072,519
2005 $6,321,324,279 $8,555,315,487 $191,048,400 $269,985,444
2006 $6,763,672,381 $8,910,613,085 $193,679,700 $269,651,419
2007 $7,423,375,015 $9,362,947,173 $200,903,600 $274,381,188
2008 $8,496,967,597 $9,684,631,534 $201,167,300 $259,306,750
2009 $8,298,702,489 $9,365,749,046 $189,998,000 $240,479,586
2010 $8,758,602,233 $9,778,787,862 $188,174,300 $238,325,139
2011 $9,774,329,333 $10,396,483,140 $198,873,900 $250,523,288
2012 $10,532,017,232 $11,071,852,873 $215,762,400 $253,663,378
2013 $10,982,988,249 $11,617,373,487 $225,345,700 $245,961,582
2014 $11,880,438,824 $12,173,318,264 $243,156,500 $257,693,948
2015 $12,756,696,261 $12,756,696,261 $278,824,800 $278,824,800
2016 $13,286,093,388 $13,338,803,114 $298,323,500 $277,598,001
2017 $13,785,893,007 $13,956,550,775 $285,600,000 $268,548,255
2018 $13,025,221,974 $13,487,142,195 $288,546,300 $268,843,680
2019 $12,699,023,614 $13,096,437,236 $281,941,600 $269,381,408
2020 $12,726,422,432 $12,803,529,948 $258,990,800 $253,220,049
2021 $14,209,020,362 $14,142,060,837 $235,752,900 $218,291,145
2022 $15,634,572,502 $14,644,146,346 $255,591,100 $215,413,136
2023 $17,805,842,284 $15,292,551,635 $281,849,100 $219,456,509
2024 $19,693,982,968 $15,841,222,425 - -

Economic indicators

Nicaragua Palau
Gross domestic product
$19.7B
2024
$282M
2023
GDP rank
131/197
2024
193/197
2023
GDP growth
10.6%
2023-2024
10.3%
2022-2023
GDP per capita
$2,848
2024
$15,899
2023
GDP per capita rank
141/197
2024
67/197
2023
GDP per capita, PPP
$8,709
2024
$17,532
2023
Government debt
$7.7B
2024
n/a
Debt-to-GDP ratio
38.4%
2025
n/a
Government debt per person
$1,114
2024
n/a
Government debt per person rank
139/185
2024
n/a
Average annual personal income after taxes
$2,445
2025
$8,654
2025
Income share by richest 10%
37.2%
2014
n/a
Income share by poorest 10%
2%
2014
n/a
Government expenditure, % of GDP
27.2%
2025
53%
2025
Consumer prices inflation
2%
2024-2025
1.8%
2024-2025
Central bank interest rate
6.5%
2024
n/a
Unemployment rate
5.2%
2018
0.77%
2020
Population
7079664
17663

GDP per capita in Nicaragua vs Palau

Nicaragua's GDP per capita is $2,848, ranking 141/197, compared to $15,899 in Palau, ranking 67/197. Adjusted for purchasing power (GDP per capita PPP), Nicaragua ranks 135th at $8,709, while Palau ranks 105th at $17,532.

Nicaragua
GDP per capita

GDP per capita, PPP
Palau
GDP per capita

GDP per capita, PPP
Year Current $
Nicaragua Palau
GDP per capita GDP per capita, PPP 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 - $1,017 -
1971 $331 - $1,081 -
1972 $341 - $1,145 -
1973 $413 - $1,221 -
1974 $557 - $1,328 -
1975 $561 - $1,464 -
1976 $633 - $1,616 -
1977 $744 - $1,781 -
1978 $691 - $1,972 -
1979 $495 - $2,189 -
1980 $659 - $2,423 -
1981 $740 - $2,639 -
1982 $714 - $2,838 -
1983 $780 - $3,049 -
1984 $861 - $3,360 -
1985 $724 - $3,728 -
1986 $761 - $4,144 -
1987 $992 - $4,616 -
1988 $662 - $5,145 -
1989 $249.2 - $5,741 -
1990 $242.5 $1,979 $6,403 $9,604
1991 $350 $1,995 $6,824 $10,179
1992 $411 $2,003 $6,553 $9,516
1993 $394 $1,998 $5,892 $8,344
1994 $849 $2,064 $6,329 $8,927
1995 $892 $2,187 $7,038 $9,858
1996 $911 $2,325 $7,788 $10,794
1997 $913 $2,418 $7,945 $10,951
1998 $949 $2,497 $8,048 $11,042
1999 $980 $2,672 $7,630 $10,382
2000 $1,017 $2,806 $7,797 $10,192
2001 $1,052 $2,917 $8,240 $10,999
2002 $1,014 $2,948 $8,341 $11,639
2003 $1,021 $3,046 $7,862 $11,395
2004 $1,099 $3,255 $8,395 $12,064
2005 $1,183 $3,456 $9,640 $12,868
2006 $1,248 $3,658 $9,885 $13,401
2007 $1,350 $3,891 $10,408 $14,216
2008 $1,524 $4,044 $10,583 $13,905
2009 $1,467 $3,880 $10,155 $13,183
2010 $1,527 $4,042 $10,229 $13,449
2011 $1,680 $4,325 $11,001 $14,683
2012 $1,785 $4,508 $12,145 $15,410
2013 $1,835 $4,711 $12,769 $15,298
2014 $1,958 $5,068 $13,726 $16,245
2015 $2,074 $5,449 $15,691 $17,685
2016 $2,132 $5,882 $16,763 $17,748
2017 $2,183 $6,225 $16,034 $17,462
2018 $2,035 $5,935 $16,198 $17,879
2019 $1,959 $5,981 $15,841 $18,227
2020 $1,938 $6,274 $14,557 $17,367
2021 $2,138 $7,119 $13,257 $15,663
2022 $2,323 $7,797 $14,392 $16,581
2023 $2,609 $8,320 $15,899 $17,532
2024 $2,848 $8,709 - -

Government deficit by year

In 2023, Nicaragua's government surplus, the difference between spending and revenue, was $416M, equivalent to 2.33% of GDP. This compares to Palau's surplus of $2.88M, or 1.02% of GDP.

Over the past 24 years, Nicaragua recorded a fiscal deficit in 10 of those years, while Palau ran a deficit in 13 years. On average, Nicaragua posted an annual surplus equal to +0.02% of GDP, compared to deficit of -2.44% of GDP for Palau.

Deficit/surplus
Nicaragua

Palau
Year Deficit/surplus, % of GDP
Nicaragua Palau
1960 -1.28% -
1961 0.04% -
1962 -0.29% -
1963 0.75% -
1964 0.2% -
1965 0.3% -
1966 -1.04% -
1967 -2.11% -
1968 -1.21% -
1969 -1.57% -
1970 -2.69% -
1971 -2.33% -
1972 -2.61% -
1973 1.21% -
1974 -1.41% -
1975 -3.53% -
1976 -2.2% -
1977 -5.91% -
1978 -4.44% -
1979 -5.89% -
1980 -6.53% -
1981 -10.6% -
1982 -20.2% -
1983 -15.6% -
1984 -11.8% -
1985 -11.3% -
1986 -7.33% -
1987 -7.33% -
1988 -22.4% -
1989 -9.25% -
1990 -15.2% -
1991 -3.45% -
1992 -3.8% -
1993 -4.66% -
1994 -5.79% -
1995 -4.62% -
1996 -5% -
1997 -3.31% -
1998 -2.88% -
1999 -6.86% -
2000 2.15% -13.4%
2001 0.34% -16.7%
2002 2.07% -12.7%
2003 1.3% -3.17%
2004 1.69% -4.82%
2005 1.72% 1.38%
2006 1.36% 0.14%
2007 1.88% -2.08%
2008 0.27% -1.71%
2009 -0.9% -2.14%
2010 0.69% -1.27%
2011 0.59% 1.29%
2012 0.22% 0.98%
2013 -0.3% 0.54%
2014 -0.89% 3.59%
2015 -1.64% 5.08%
2016 -1.92% 3.52%
2017 -1.75% 4.76%
2018 -4.35% 6.18%
2019 -1.12% -0.36%
2020 -2.57% -13%
2021 -1.26% -9.94%
2022 0.65% -5.84%
2023 2.33% 1.02%
2024 2.45% 4.38%
2025 0.86% 2.29%

Inflation comparison by year

Over the past 25 years, Nicaragua has recorded an average annual inflation rate of 6.72%, compared with 3.1% in Palau. In 2025, inflation was 2% in Nicaragua and 1.8% in Palau.

Inflation
Nicaragua

Palau
Year Inflation
Nicaragua Palau Nicaragua Palau
1996 11.7% -
1997 9.2% -
1998 13% -
1999 11.2% -
2000 11.5% -
2001 7.4% -0.7%
2002 3.8% -0.3%
2003 5.3% 0.6%
2004 8.5% 0.5%
2005 9.6% 3.6%
2006 9.1% 4.2%
2007 11.1% 3%
2008 19.8% 9.9%
2009 3.7% 4.7%
2010 5.5% 1.1%
2011 8.1% 2.6%
2012 7.2% 5.4%
2013 7.1% 2.8%
2014 6% 4%
2015 4% 2.2%
2016 3.5% -1.3%
2017 3.9% 1.1%
2018 4.9% 2.4%
2019 5.4% 0.4%
2020 3.7% 0.7%
2021 4.9% -0.5%
2022 10.5% 13.2%
2023 8.4% 12.4%
2024 4.6% 3.6%
2025 2% 1.8%

Balance of trade

Nicaragua Palau
Current account balance
$818M
2024
-$135M
2022
Current account balance ranking
54/189
2024
89/189
2022
Current account balance, % of GDP
+4.15%
2024
-53%
2022
Goods imports
$10.1B
2024
$159M
2022
Goods exports
$6.84B
2024
$2.1M
2022
Service imports
$1.31B
2024
$58.2M
2022
Service exports
$1.3B
2024
$22.4M
2022
Imports of goods and services, % of GDP
58.1%
2024
74.3%
2022
Exports of goods and services, % of GDP
40.5%
2024
13.5%
2022

Economic freedom indices

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

Nicaragua Palau
Economic freedom 54 62
Economic freedom ranking 139/197 84/197
Property rights 28.2 n/a
Government integrity 13.6 n/a
Judicial effectiveness 9.1 n/a
Tax burden 77.7 n/a
Government spending 75.9 n/a
Fiscal health 95.8 n/a
Business freedom 55.8 n/a
Labor freedom 47.3 n/a
Monetary freedom 66.4 n/a
Trade freedom 68.2 n/a
Investment freedom 60 n/a
Financial freedom 50 n/a

More economic indicators

Nicaragua Palau
Services, % of GDP
46.8%
2024
76.7%
2023
Industry, % of GDP
27.6%
2024
9.87%
2023
Agriculture, forestry, and fishing, % of GDP
14.4%
2024
2.99%
2023
GNI, Atlas method
$17.4B
2024
$249M
2023
GNI per capita, PPP
$8,270
2024
$16,500
2023
Total reserves including gold
$6.1B
2024
n/a
Total reserves ranking
91/177
2024
n/a
Net foreign direct investment
-$1.28B
2024
-$72M
2022
Net inflows of foreign direct investment
$1.35B
2024
$69.1M
2024
Net outflows of foreign direct investment
$73.8M
2024
-$38K
1998
Servicing debt to the IMF, % of GNI
13.8%
2023
n/a
Poverty at national poverty lines
24.9%
2016
24.9%
2020
Gross capital formation, % of GDP
24.7%
2024
38.4%
2022

GDP per capita map

GDP per capita

Compare countries by 7 more topics

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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.