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Economy of Nicaragua vs Syria compared: GDP & Debt

Updated on by Georank

Nicaragua has a GDP of $22.2B compared to $20B for Syria, ranking 128/197 and 134/197 by economy size, respectively.

Nicaragua has $7.74B in government debt (34.8% of GDP), compared to $18.4B (30% of GDP) in Syria.

Nicaragua vs Syria GDP by year

Nicaragua
Syria
1x
Year GDP, current $
Nicaragua Syria
2025 $22,237,167,113 -
2024 $19,696,311,850 -
2023 $17,805,842,221 $19,993,439,950
2022 $15,634,573,556 $23,737,634,644
2021 $14,209,019,392 $14,892,885,528
2020 $12,726,422,432 $12,501,503,673
2019 $12,699,023,614 $22,583,046,645
2018 $13,025,221,974 $21,497,779,248
2017 $13,785,893,007 $16,369,842,725
2016 $13,286,093,388 $12,597,854,088
2015 $12,756,696,261 $16,466,861,435
2014 $11,880,438,824 $21,502,061,466
2013 $10,982,988,249 $21,361,254,635
2012 $10,532,017,232 $43,190,318,033
2011 $9,774,329,333 $67,539,433,544
2010 $8,758,602,233 $61,390,833,273
2009 $8,298,702,489 $54,111,721,044
2008 $8,496,967,597 $52,557,913,397
2007 $7,423,375,015 $40,465,331,020
2006 $6,763,672,381 $33,751,812,959
2005 $6,321,324,279 $28,858,937,499
2004 $5,792,932,838 $25,086,910,448
2003 $5,322,228,351 $21,828,144,686
2002 $5,223,727,303 $20,786,986,580
2001 $5,351,752,034 $20,078,599,626
2000 $5,109,587,050 $18,937,031,610
1999 $4,856,026,259 $15,873,875,969
1998 $4,635,347,386 $15,200,846,154
1997 $4,389,973,490 $14,505,233,463
1996 $4,308,351,903 $13,789,560,878
1995 $4,140,470,000 $11,396,706,587
1994 $3,863,185,119 $10,122,020,000
1993 $1,756,454,248 $13,695,962,055
1992 $1,792,800,000 $13,253,565,861
1991 $1,488,804,124 $12,981,833,333
1990 $1,009,455,484 $12,308,624,418
1989 $1,013,184,756 $9,853,395,762
1988 $2,630,900,096 $10,577,041,645
1987 $3,851,200,118 $11,356,215,543
1986 $2,885,799,994 $13,293,205,278
1985 $2,683,699,935 $16,403,539,893
1984 $3,117,599,872 $17,503,078,174
1983 $2,753,100,058 $17,589,277,143
1982 $2,454,499,872 $16,298,929,011
1981 $2,474,700,227 $15,518,201,335
1980 $2,144,300,006 $13,062,420,382
1979 $1,567,599,982 $9,929,681,529
1978 $2,127,699,979 $9,275,200,458
1977 $2,226,999,874 $7,696,011,396
1976 $1,836,899,999 $7,633,528,867
1975 $1,581,599,959 $6,826,980,444
1974 $1,521,400,012 $5,159,557,148
1973 $1,092,900,015 $3,239,487,516
1972 $878,570,045 $3,059,681,698
1971 $828,569,953 $2,589,851,325
1970 $778,569,939 $2,140,384,010
1969 $750,000,003 $2,245,011,515
1968 $692,859,985 $1,753,746,430
1967 $657,140,011 $1,580,229,799
1966 $607,140,010 $1,342,287,553
1965 $564,290,020 $1,472,036,540
1964 $347,119,918 $1,339,494,267
1963 $297,324,163 $1,200,447,408
1962 $269,283,804 $1,110,565,881
1961 $244,144,237 $945,244,972
1960 $227,223,322 $857,704,413

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Nicaragua vs Syria by year

Nicaragua
GDP per capita

GDP per capita, PPP
Syria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Nicaragua Syria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $3,173 - - -
2024 $2,848 $8,709 - -
2023 $2,609 $8,320 $847 $4,650
2022 $2,323 $7,797 $1,057 $4,772
2021 $2,138 $7,119 $689 $4,593
2020 $1,938 $6,274 $594 $3,738
2019 $1,959 $5,981 $1,110 $3,502
2018 $2,035 $5,935 $1,098 $3,456
2017 $2,183 $6,225 $852 $3,265
2016 $2,132 $5,882 $656 -
2015 $2,074 $5,449 $848 -
2014 $1,958 $5,068 $1,061 -
2013 $1,835 $4,711 $986 -
2012 $1,785 $4,508 $1,898 -
2011 $1,680 $4,325 $2,952 -
2010 $1,527 $4,042 $2,731 -
2009 $1,467 $3,880 $2,462 -
2008 $1,524 $4,044 $2,429 -
2007 $1,350 $3,891 $1,938 -
2006 $1,248 $3,658 $1,719 -
2005 $1,183 $3,456 $1,534 -
2004 $1,099 $3,255 $1,368 -
2003 $1,021 $3,046 $1,220 -
2002 $1,014 $2,948 $1,190 -
2001 $1,052 $2,917 $1,178 -
2000 $1,017 $2,806 $1,138 -
1999 $980 $2,672 $978 -
1998 $949 $2,497 $961 -
1997 $913 $2,418 $941 -
1996 $911 $2,325 $918 -
1995 $892 $2,187 $780 -
1994 $849 $2,064 $712 -
1993 $394 $1,998 $993 -
1992 $411 $2,003 $990 -
1991 $350 $1,995 $1,000 -
1990 $242.5 $1,979 $978 -
1989 $249.2 - $809 -
1988 $662 - $898 -
1987 $992 - $997 -
1986 $761 - $1,208 -
1985 $724 - $1,544 -
1984 $861 - $1,706 -
1983 $780 - $1,776 -
1982 $714 - $1,703 -
1981 $740 - $1,676 -
1980 $659 - $1,458 -
1979 $495 - $1,146 -
1978 $691 - $1,108 -
1977 $744 - $951 -
1976 $633 - $976 -
1975 $561 - $904 -
1974 $557 - $707 -
1973 $413 - $459 -
1972 $341 - $448 -
1971 $331 - $393 -
1970 $321 - $335 -
1969 $319 - $364 -
1968 $304 - $293.3 -
1967 $297.9 - $272.9 -
1966 $284 - $239.3 -
1965 $272.3 - $270.8 -
1964 $172.7 - $254.2 -
1963 $152.5 - $234.9 -
1962 $142.3 - $223.9 -
1961 $132.9 - $196.3 -
1960 $127.5 - $183.5 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Nicaragua's GDP per capita is $3,173, ranking 140/197, compared to $847 in Syria, ranking 185/197. Adjusted for purchasing power (GDP per capita PPP), Nicaragua ranks 138th at $8,709, while Syria ranks 160th at $4,650.

Economic indicators

Nicaragua Syria
Gross domestic product
$22.2B
2025
$20B
2023
GDP rank
128/197
2025
134/197
2023
GDP growth
4.92%
2024-2025
-1.85%
2022-2023
GDP per capita
$3,173
2025
$847
2023
GDP per capita rank
140/197
2025
185/197
2023
GDP per capita, PPP
$8,709
2024
$4,650
2023
GDP per capita PPP rank
138/197
2024
160/197
2023
Government debt
$7.74B
2025
$18.4B
2010
Debt-to-GDP ratio
34.8%
2025
30%
2010
Government debt per person
$1,104
2025
$820
2010
Government debt per person rank
142/185
2025
150/185
2010
Average annual personal income after taxes
$1,939
2026
$693
2026
Income share by richest 10%
37.2%
2014
20.9%
2022
Income share by poorest 10%
2%
2014
3.8%
2022
Government expenditure, % of GDP
26.1%
2025
28.6%
2010
Consumer prices inflation
2.1%
2024-2025
13.4%
2018-2019
Central bank interest rate
6%
2025
n/a
Unemployment rate
5.2%
2018
14.9%
2011
Population
7144725
26956472

Spending and national debt comparison by year

Nicaragua
Spending

Debt
Syria
Spending

Debt
1x
Year % of GDP
Nicaragua Syria
Government spending Government debt Government spending Government debt
2025 26.1% 34.8% - -
2024 26.2% 37.9% - -
2023 26% 42.4% - -
2022 28.6% 45.9% - -
2021 30% 48.4% - -
2020 28.9% 49.2% - -
2019 27.7% 44.2% - -
2018 27.7% 39.1% - -
2017 27.3% 34.7% - -
2016 26.8% 30.9% - -
2015 25.4% 28.9% - -
2014 24.6% 28.7% - -
2013 24.2% 28.8% - -
2012 24.1% 27.9% - -
2011 23.5% 28.8% - -
2010 22.6% 30.3% 28.6% 30%
2009 22.7% 29.3% 26.7% 31.2%
2008 21.9% 26% 22.9% 37.3%
2007 21.5% 30.9% 25.7% 42.7%
2006 21.4% 51.2% 26.3% 45%
2005 21.3% 66.6% 28.2% 50.7%
2004 20.8% 84% 31.3% 113%
2003 20.9% 109.5% 32.6% 133.4%
2002 18.7% 110.4% 28.5% 132.4%
2001 19.2% 87.5% 28% 144.5%
2000 20.6% 95.2% 27.4% 152.1%
1999 22.1% 99.8% 28% 147.7%
1998 18.5% 86.5% 28.8% 151.2%
1997 17.9% 86.4% 29% 147.6%
1996 18% - 27.7% 141.5%
1995 17.7% - 29.8% 152.6%
1994 18.4% - 30.3% 163%
1993 18.4% - 29.4% 171.9%
1992 18.4% - 34.2% 173.6%
1991 16.8% - 34.3% 182.4%
1990 28.2% - 28.3% 189.8%
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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-07-08).

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

In 2025, Nicaragua's government spending was $5.8B, accounting for 26.1% of its GDP, while Syria spent $17.6B, or 28.6% of GDP.

Debt-to-GDP ratio is 34.8% in Nicaragua and 30% in Syria, ranking 145/185 and 155/185, respectively.

Government deficit by year

Deficit/surplus
Nicaragua

Syria
1x
Year Deficit/surplus, % of GDP
Nicaragua Syria
2025 2.1% -
2024 2.25% -
2023 2.3% -
2022 0.65% -
2021 -1.26% -
2020 -2.57% -
2019 -1.12% -
2018 -4.35% -
2017 -1.75% -
2016 -1.92% -
2015 -1.64% -
2014 -0.89% -
2013 -0.3% -
2012 0.22% -
2011 0.59% -
2010 0.69% -7.79%
2009 -0.9% -2.89%
2008 0.27% -2.86%
2007 1.88% -2.99%
2006 1.36% -1.12%
2005 1.72% -4.41%
2004 1.69% -4.18%
2003 1.3% -2.7%
2002 2.07% -2.02%
2001 0.34% 2.3%
2000 2.15% -1.36%
1999 -6.86% -1.47%
1998 -2.88% -2.81%
1997 -3.31% -1.78%
1996 -5% -2.83%
1995 -4.62% -3.81%
1994 -5.79% -6%
1993 -4.66% -4.96%
1992 -3.8% -7.26%
1991 -3.45% -6.57%
1990 -15.2% -3.92%
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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-07-08).

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

In 2010, Nicaragua's government surplus, the difference between spending and revenue, was $60.6M, equivalent to 0.69% of GDP. This compares to Syria's deficit of $4.78B, or 7.79% of GDP.

Over the past 21 years, Nicaragua recorded a fiscal deficit in 11 of those years, while Syria ran a deficit in 20 years. On average, Nicaragua posted an annual deficit equal to 2.05% of GDP, compared to deficit of 3.4% of GDP for Syria.

Inflation comparison by year

Inflation
Nicaragua

Syria
1x
Year Consumer prices inflation
Nicaragua Syria
2025 2.1% -
2024 4.6% -
2023 8.4% -
2022 10.5% -
2021 4.9% -
2020 3.7% -
2019 5.4% 13.4%
2018 4.9% 0.94%
2017 3.9% 18.1%
2016 3.5% 47.7%
2015 4% 38.5%
2014 6% 10.9%
2013 7.1% 40%
2012 7.2% 36.7%
2011 8.1% 4.75%
2010 5.5% 4.4%
2009 3.7% 2.92%
2008 19.8% 15.7%
2007 11.1% 3.91%
2006 9.1% 10%
2005 9.6% 7.24%
2004 8.5% 4.43%
2003 5.3% 5.8%
2002 3.8% -0.13%
2001 7.4% 3%
2000 11.5% -3.85%
1999 11.2% -3.7%
1998 13% -0.8%
1997 9.2% 1.89%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2019, retrieved 2026-07-08).

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

Over the past 23 years, Nicaragua has recorded an average annual inflation rate of 7.77%, compared with 11.4% in Syria. In 2019, inflation was 2.1% in Nicaragua and 13.4% in Syria.

Top exports between countries

Nicaragua
Export category Export value
Raw agricultural goods $126K
Syria
Export category Export value

Balance of trade

Nicaragua Syria
Current account balance
$818M
2024
-$367M
2010
Current account balance ranking
52/190
2024
99/190
2010
Current account balance, % of GDP
+4.15%
2024
-0.6%
2010
Goods imports
$10.1B
2024
$15.9B
2010
Goods exports
$6.84B
2024
$12.3B
2010
Service imports
$1.31B
2024
$3.53B
2010
Service exports
$1.3B
2024
$7.33B
2010
Imports of goods and services, % of GDP
54.9%
2025
28.7%
2022
Exports of goods and services, % of GDP
41.6%
2025
6.78%
2022

Economic freedom indices

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

Nicaragua Syria
Economic freedom 53.6 51.2
Economic freedom ranking 139/197 155/197
Property rights 23.8 4
Government integrity 13.4 3.6
Judicial effectiveness 8.8 3.7
Tax burden 74.5 87.3
Government spending 77.7 78.5
Fiscal health 96.9 13.8
Business freedom 54.4 33.8
Labor freedom 47.3 37.2
Monetary freedom 69.4 80
Trade freedom 67 47
Investment freedom 60 0
Financial freedom 50 20

Economic freedom comparison by year

Nicaragua
Syria
1x
Year Economic freedom index
Nicaragua Syria
2026 53.6 -
2025 54 -
2024 53.4 -
2023 54.9 -
2022 54.8 -
2021 56.3 -
2020 57.2 -
2019 57.7 -
2018 58.9 -
2017 59.2 -
2016 58.6 -
2015 57.6 -
2014 58.4 -
2013 56.6 -
2012 57.9 51.2
2011 58.8 51.3
2010 58.3 49.4
2009 59.8 51.3
2008 60.8 47.2
2007 62.7 48.3
2006 63.8 51.2
2005 62.5 46.3
2004 61.4 40.6
2003 62.6 41.3
2002 61.1 36.3
2001 58 36.6
2000 56.9 37.2
1999 54 39
1998 53.8 42.2
1997 53.3 43
1996 54.1 42.3
1995 42.5 -

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

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

The Economic Freedom Index for Nicaragua is 53.6, ranking 139/197, compared to 51.2 for Syria, ranking 155/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Nicaragua Syria
Services, % of GDP
45.2%
2025
44.7%
2022
Industry, % of GDP
29.3%
2025
11.9%
2022
Agriculture, forestry, and fishing, % of GDP
14.5%
2025
42.9%
2022
GNI, Atlas method
$19.9B
2025
$18.2B
2023
GNI per capita, PPP
$8,780
2025
$4,480
2023
Total reserves including gold
$8.32B
2025
$20.6B
2010
Total reserves ranking
87/177
2025
66/177
2010
Net foreign direct investment
-$1.28B
2024
-$1.47B
2010
Net inflows of foreign direct investment
$1.35B
2024
$0
2024
Net outflows of foreign direct investment
$73.8M
2024
$0
2024
Servicing debt to the IMF, % of GNI
9.74%
2024
0.15%
2023
Poverty at national poverty lines
24.9%
2016
35.2%
2007
Gross capital formation, % of GDP
25.8%
2025
16%
1969

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/nicaragua/syria | CC BY

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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. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)
  8. TradeMap (2021, 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.