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Economy of Nicaragua vs Sao Tome and Principe compared: GDP & Debt

Updated on by Georank team

Nicaragua has a GDP of $19.7B compared to $822M for Sao Tome and Principe, ranking 131/197 and 189/197 by economy size, respectively.

Nicaragua has $7.71B in government debt (39.1% of GDP), compared to $533M (64.8% of GDP) in Sao Tome and Principe.

Nicaragua vs Sao Tome and Principe GDP by year

Nicaragua
Sao Tome and Principe
1x
Year GDP, current $
Nicaragua Sao Tome
2024 $19,693,982,968 $822,154,621
2023 $17,805,842,284 $690,456,807
2022 $15,634,572,502 $540,809,499
2021 $14,209,020,362 $524,402,456
2020 $12,726,422,432 $471,229,485
2019 $12,699,023,614 $412,976,083
2018 $13,025,221,974 $383,717,328
2017 $13,785,893,007 $322,002,845
2016 $13,286,093,388 $292,267,272
2015 $12,756,696,261 $259,999,643
2014 $11,880,438,824 $293,119,143
2013 $10,982,988,249 $267,041,748
2012 $10,532,017,232 $225,815,132
2011 $9,774,329,333 $226,455,001
2010 $8,758,602,233 $190,021,192
2009 $8,298,702,489 $200,668,065
2008 $8,496,967,597 $188,021,165
2007 $7,423,375,015 $149,146,919
2006 $6,763,672,381 $142,775,104
2005 $6,321,324,279 $136,450,662
2004 $5,792,932,838 $114,582,284
2003 $5,322,228,351 $102,085,769
2002 $5,223,727,303 $85,171,074
2001 $5,351,752,034 $75,951,133
2000 $5,109,587,050 $76,198,395
1999 $4,856,026,259 $77,302,212
1998 $4,635,347,386 $72,285,404
1997 $4,389,973,490 $91,920,274
1996 $4,308,351,903 $135,188,166
1995 $4,140,470,000 $103,695,237
1994 $3,863,185,119 $131,338,415
1993 $1,756,454,248 $125,742,229
1992 $1,792,800,000 $94,861,781
1991 $1,488,804,124 $107,484,143
1990 $1,009,455,484 $119,297,933
1989 $1,013,184,756 $98,545,367
1988 $2,630,900,096 $99,000,764
1987 $3,851,200,118 $115,952,925
1986 $2,885,799,994 $115,928,907
1985 $2,683,699,935 $82,733,069
1984 $3,117,599,872 $78,213,796
1983 $2,753,100,058 $75,110,289
1982 $2,454,499,872 $80,307,763
1981 $2,474,700,227 $83,499,264
1980 $2,144,300,006 $81,662,231
1979 $1,567,599,982 $65,755,928
1978 $2,127,699,979 $55,044,563
1977 $2,226,999,874 $49,207,692
1976 $1,836,899,999 $52,039,421
1975 $1,581,599,959 $60,101,710
1974 $1,521,400,012 $57,817,591
1973 $1,092,900,015 $56,011,245
1972 $878,570,045 $41,430,257
1971 $828,569,953 $37,288,845
1970 $778,569,939 $37,211,826
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/nicaragua/sao-tome-and-principe | CC BY

GDP per capita in Nicaragua vs Sao Tome and Principe by year

Nicaragua
GDP per capita

GDP per capita, PPP
Sao Tome and Principe
GDP per capita

GDP per capita, PPP
1x
Year Current $
Nicaragua Sao Tome
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,848 $8,709 $3,491 $6,242
2023 $2,609 $8,320 $2,991 $6,150
2022 $2,323 $7,797 $2,390 $6,034
2021 $2,138 $7,119 $2,363 $5,733
2020 $1,938 $6,274 $2,167 $5,145
2019 $1,959 $5,981 $1,935 $4,655
2018 $2,035 $5,935 $1,826 $3,941
2017 $2,183 $6,225 $1,556 $3,436
2016 $2,132 $5,882 $1,435 $3,320
2015 $2,074 $5,449 $1,298 $3,172
2014 $1,958 $5,068 $1,490 $3,233
2013 $1,835 $4,711 $1,383 $2,946
2012 $1,785 $4,508 $1,192 $2,653
2011 $1,680 $4,325 $1,220 $2,914
2010 $1,527 $4,042 $1,045 $2,859
2009 $1,467 $3,880 $1,128 $2,846
2008 $1,524 $4,044 $1,082 $2,802
2007 $1,350 $3,891 $879 $2,650
2006 $1,248 $3,658 $862 $2,551
2005 $1,183 $3,456 $844 $2,329
2004 $1,099 $3,255 $727 $2,171
2003 $1,021 $3,046 $664 $2,094
2002 $1,014 $2,948 $568 $1,945
2001 $1,052 $2,917 $519 $1,898
2000 $1,017 $2,806 $529 $1,830
1999 $980 $2,672 $543 $1,802
1998 $949 $2,497 $514 $1,754
1997 $913 $2,418 $662 $1,714
1996 $911 $2,325 $987 $1,693
1995 $892 $2,187 $769 $1,663
1994 $849 $2,064 $990 $1,623
1993 $394 $1,998 $964 $1,581
1992 $411 $2,003 $740 $1,556
1991 $350 $1,995 $855 $1,540
1990 $242.5 $1,979 $970 $1,504
1989 $249.2 - $821 -
1988 $662 - $847 -
1987 $992 - $1,018 -
1986 $761 - $1,043 -
1985 $724 - $761 -
1984 $861 - $735 -
1983 $780 - $720 -
1982 $714 - $783 -
1981 $740 - $830 -
1980 $659 - $829 -
1979 $495 - $683 -
1978 $691 - $587 -
1977 $744 - $539 -
1976 $633 - $585 -
1975 $561 - $693 -
1974 $557 - $683 -
1973 $413 - $676 -
1972 $341 - $511 -
1971 $331 - $470 -
1970 $321 - $479 -
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/nicaragua/sao-tome-and-principe | CC BY

Nicaragua's GDP per capita is $2,848, ranking 141/197, compared to $3,491 in Sao Tome and Principe, ranking 134/197. Adjusted for purchasing power (GDP per capita PPP), Nicaragua ranks 138th at $8,709, while Sao Tome and Principe ranks 151st at $6,242.

Economic indicators

Nicaragua Sao Tome
Gross domestic product
$19.7B
2024
$822M
2024
GDP rank
131/197
2024
189/197
2024
GDP growth
3.59%
2023-2024
1.1%
2023-2024
GDP per capita
$2,848
2024
$3,491
2024
GDP per capita rank
141/197
2024
134/197
2024
GDP per capita, PPP
$8,709
2024
$6,242
2024
GDP per capita PPP rank
138/197
2024
151/197
2024
Government debt
$7.71B
2024
$533M
2024
Debt-to-GDP ratio
39.1%
2024
64.8%
2024
Government debt per person
$1,115
2024
$2,262
2024
Government debt per person rank
138/185
2024
116/185
2024
Average annual personal income after taxes
$2,318
2026
$3,111
2026
Income share by richest 10%
37.2%
2014
32.8%
2017
Income share by poorest 10%
2%
2014
2.6%
2017
Government expenditure, % of GDP
27.1%
2024
24.7%
2024
Consumer prices inflation
4.6%
2023-2024
14.4%
2023-2024
Central bank interest rate
6%
2025
n/a
Unemployment rate
5.2%
2018
6.66%
2017
Population
7124343
246362

Spending and national debt comparison by year

Nicaragua
Spending

Debt
Sao Tome and Principe
Spending

Debt
1x
Year % of GDP
Nicaragua Sao Tome
Government spending Government debt Government spending Government debt
2024 27.1% 39.1% 24.7% 64.8%
2023 26% 42.3% 23.9% 73.2%
2022 28.6% 45.9% 27.7% 86.8%
2021 30% 48.4% 25.6% 85.1%
2020 28.9% 49.2% 23.2% 91%
2019 27.7% 44.2% 22.8% 98.6%
2018 27.7% 39.1% 28% 95.9%
2017 27.3% 34.7% 31.9% 92.3%
2016 26.8% 30.9% 38.3% 104.6%
2015 25.4% 28.9% 41.6% 101.1%
2014 24.6% 28.7% 36% 92.5%
2013 24.2% 28.8% 35.5% 76.8%
2012 24.1% 27.9% 50.5% 59.6%
2011 23.5% 28.8% 53.4% 86%
2010 22.6% 30.3% 51.7% 83%
2009 22.7% 29.3% 48.6% 70.3%
2008 21.9% 26% 30.4% 60.7%
2007 21.5% 30.9% 38.9% 110.1%
2006 21.4% 51.2% 32.5% 283.2%
2005 21.3% 66.6% 43.7% 334%
2004 20.8% 84% 60.6% 354%
2003 20.9% 109.5% 51.9% 329%
2002 18.7% 110.4% 44.3% 367%
2001 19.2% 87.5% 52.8% 418%
2000 20.6% 95.2% 10.7% -
1999 22.1% 99.8% - -
1998 18.5% 86.5% - -
1997 17.9% 86.4% - -
1996 18% - - -
1995 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 (1997–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-02-20).

GeoRank.org/economy/nicaragua/sao-tome-and-principe | CC BY

In 2024, Nicaragua's government spending was $5.34B, accounting for 27.1% of its GDP, while Sao Tome and Principe spent $203M, or 24.7% of GDP.

Debt-to-GDP ratio is 39.1% in Nicaragua and 64.8% in Sao Tome and Principe, ranking 136/185 and 69/185, respectively.

Government deficit by year

Deficit/surplus
Nicaragua

Sao Tome and Principe
1x
Year Deficit/surplus, % of GDP
Nicaragua Sao Tome
2024 2.48% 0.92%
2023 2.31% -2.13%
2022 0.65% -2.24%
2021 -1.26% -1.52%
2020 -2.57% 2.94%
2019 -1.12% -0.07%
2018 -4.35% -2.02%
2017 -1.75% -3.11%
2016 -1.92% -5.01%
2015 -1.64% -7.6%
2014 -0.89% -6.27%
2013 -0.3% 2.13%
2012 0.22% -12.3%
2011 0.59% -13%
2010 0.69% -12.1%
2009 -0.9% -18%
2008 0.27% 13.6%
2007 1.88% 125.1%
2006 1.36% 18%
2005 1.72% 26.8%
2004 1.69% -25.1%
2003 1.3% -15.9%
2002 2.07% -10.4%
2001 0.34% -13.5%
2000 2.15% 51.5%
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/nicaragua/sao-tome-and-principe | CC BY

In 2024, Nicaragua's government surplus, the difference between spending and revenue, was $489M, equivalent to 2.48% of GDP. This compares to Sao Tome and Principe's surplus of $7.57M, or 0.92% of GDP.

Over the past 25 years, Nicaragua recorded a fiscal deficit in 10 of those years, while Sao Tome and Principe ran a deficit in 17 years. On average, Nicaragua posted an annual surplus equal to 0.12% of GDP, compared to surplus of 3.63% of GDP for Sao Tome and Principe.

Inflation comparison by year

Inflation
Nicaragua

Sao Tome and Principe
1x
Year Consumer prices inflation
Nicaragua Sao Tome
2024 4.6% 14.4%
2023 8.4% 21.2%
2022 10.5% 18%
2021 4.9% 8.1%
2020 3.7% 9.8%
2019 5.4% 7.7%
2018 4.9% 7.9%
2017 3.9% 5.7%
2016 3.5% 5.4%
2015 4% 6.1%
2014 6% 7%
2013 7.1% 8.1%
2012 7.2% 10.6%
2011 8.1% 14.3%
2010 5.5% 13.3%
2009 3.7% 17%
2008 19.8% 32%
2007 11.1% 18.6%
2006 9.1% 23.1%
2005 9.6% 17.2%
2004 8.5% 13.3%
2003 5.3% 9.8%
2002 3.8% 10.1%
2001 7.4% 9.2%
2000 11.5% 11%
1999 11.2% 11%
1998 13% 42.1%
1997 9.2% 69%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

GeoRank.org/economy/nicaragua/sao-tome-and-principe | CC BY

Over the past 28 years, Nicaragua has recorded an average annual inflation rate of 7.53%, compared with 15.8% in Sao Tome and Principe. In 2024, inflation was 4.6% in Nicaragua and 14.4% in Sao Tome and Principe.

Balance of trade

Nicaragua Sao Tome
Current account balance
$818M
2024
$41.5M
2024
Current account balance ranking
55/190
2024
74/190
2024
Current account balance, % of GDP
+4.15%
2024
+5.05%
2024
Goods imports
$10.1B
2024
$153M
2024
Goods exports
$6.84B
2024
$29.3M
2024
Service imports
$1.31B
2024
$83M
2024
Service exports
$1.3B
2024
$88.2M
2024
Imports of goods and services, % of GDP
58.1%
2024
n/a
Exports of goods and services, % of GDP
40.5%
2024
10%
2025

Economic freedom indices

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

Nicaragua Sao Tome
Economic freedom 53.6 60.6
Economic freedom ranking 139/197 93/197
Property rights 23.8 55.2
Government integrity 13.4 47.2
Judicial effectiveness 8.8 60.8
Tax burden 74.5 88.6
Government spending 77.7 80.6
Fiscal health 96.9 89.5
Business freedom 54.4 59.9
Labor freedom 47.3 40.8
Monetary freedom 69.4 59.4
Trade freedom 67 65
Investment freedom 60 50
Financial freedom 50 30

Economic freedom comparison by year

Nicaragua
Sao Tome and Principe
1x
Year Economic freedom index
Nicaragua Sao Tome
2026 53.6 60.6
2025 54 60.4
2024 53.4 60.5
2023 54.9 61.5
2022 54.8 60.3
2021 56.3 55.9
2020 57.2 56.2
2019 57.7 54
2018 58.9 53.6
2017 59.2 55.4
2016 58.6 56.7
2015 57.6 53.3
2014 58.4 48.8
2013 56.6 48
2012 57.9 50.2
2011 58.8 49.5
2010 58.3 48.8
2009 59.8 43.8
2008 60.8 -
2007 62.7 -
2006 63.8 -
2005 62.5 -
2004 61.4 -
2003 62.6 -
2002 61.1 -
2001 58 -
2000 56.9 -
1999 54 -
1998 53.8 -
1997 53.3 -
1996 54.1 -
1995 42.5 -

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

GeoRank.org/economy/nicaragua/sao-tome-and-principe | CC BY

The Economic Freedom Index for Nicaragua is 53.6, ranking 139/197, compared to 60.6 for Sao Tome and Principe, ranking 93/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Nicaragua Sao Tome
Services, % of GDP
46.8%
2024
80.3%
2024
Industry, % of GDP
27.6%
2024
2.83%
2024
Agriculture, forestry, and fishing, % of GDP
14.4%
2024
12.5%
2024
GNI, Atlas method
$17.4B
2024
$671M
2024
GNI per capita, PPP
$8,270
2024
$6,240
2024
Total reserves including gold
$6.1B
2024
$46.2M
2023
Total reserves ranking
91/177
2024
176/177
2023
Net foreign direct investment
-$1.28B
2024
$20.5M
2024
Net inflows of foreign direct investment
$1.35B
2024
-$16.7M
2024
Net outflows of foreign direct investment
$73.8M
2024
$3.83M
2024
Servicing debt to the IMF, % of GNI
9.74%
2024
0.64%
2024
Poverty at national poverty lines
24.9%
2016
66.2%
2020
Gross capital formation, % of GDP
24.7%
2024
n/a

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/nicaragua/sao-tome-and-principe | 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 (1997–2024, 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. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.