Skip to content

Economy of Nicaragua vs Ukraine compared: GDP & Debt

Updated on by Georank team

Nicaragua has a GDP of $19.7B compared to $191B for Ukraine, ranking 131/197 and 57/197 by economy size, respectively.

Nicaragua has $7.71B in government debt (39.1% of GDP), compared to $171B (89.7% of GDP) in Ukraine.

Nicaragua vs Ukraine GDP by year

Nicaragua
Ukraine
1x
Year GDP, current $
Nicaragua Ukraine
2024 $19,693,982,968 $190,741,262,415
2023 $17,805,842,284 $181,221,517,869
2022 $15,634,572,502 $161,989,520,721
2021 $14,209,020,362 $199,765,859,571
2020 $12,726,422,432 $156,617,722,013
2019 $12,699,023,614 $153,883,047,510
2018 $13,025,221,974 $130,891,088,294
2017 $13,785,893,007 $112,090,505,082
2016 $13,286,093,388 $93,355,869,404
2015 $12,756,696,261 $91,030,967,789
2014 $11,880,438,824 $133,503,871,862
2013 $10,982,988,249 $190,498,811,460
2012 $10,532,017,232 $182,591,753,828
2011 $9,774,329,333 $169,333,835,202
2010 $8,758,602,233 $141,209,170,427
2009 $8,298,702,489 $121,552,153,444
2008 $8,496,967,597 $188,110,390,660
2007 $7,423,375,015 $148,733,861,386
2006 $6,763,672,381 $111,884,752,475
2005 $6,321,324,279 $89,238,865,119
2004 $5,792,932,838 $67,220,154,164
2003 $5,322,228,351 $52,010,355,753
2002 $5,223,727,303 $43,956,163,612
2001 $5,351,752,034 $39,309,580,983
2000 $5,109,587,050 $32,375,083,935
1999 $4,856,026,259 $31,580,639,554
1998 $4,635,347,386 $41,882,523,345
1997 $4,389,973,490 $50,151,531,592
1996 $4,308,351,903 $44,558,831,005
1995 $4,140,470,000 $48,213,856,469
1994 $3,863,185,119 $52,549,580,265
1993 $1,756,454,248 $65,648,559,903
1992 $1,792,800,000 $73,945,908,384
1991 $1,488,804,124 $77,350,733,982
1990 $1,009,455,484 $81,393,558,423
1989 $1,013,184,756 $82,709,161,099
1988 $2,630,900,096 $74,703,517,903
1987 $3,851,200,118 $64,087,694,038
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 (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Nicaragua vs Ukraine by year

Nicaragua
GDP per capita

GDP per capita, PPP
Ukraine
GDP per capita

GDP per capita, PPP
1x
Year Current $
Nicaragua Ukraine
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,848 $8,709 $5,038 $18,550
2023 $2,609 $8,320 $4,803 $17,665
2022 $2,323 $7,797 $3,946 $14,770
2021 $2,138 $7,119 $4,510 $17,846
2020 $1,938 $6,274 $3,505 $15,541
2019 $1,959 $5,981 $3,423 $14,217
2018 $2,035 $5,935 $2,895 $12,555
2017 $2,183 $6,225 $2,467 $11,536
2016 $2,132 $5,882 $2,047 $10,865
2015 $2,074 $5,449 $1,988 $9,922
2014 $1,958 $5,068 $2,904 $10,494
2013 $1,835 $4,711 $4,130 $10,904
2012 $1,785 $4,508 $3,951 $9,552
2011 $1,680 $4,325 $3,657 $9,127
2010 $1,527 $4,042 $3,040 $8,453
2009 $1,467 $3,880 $2,607 $7,995
2008 $1,524 $4,044 $4,018 $9,324
2007 $1,350 $3,891 $3,160 $8,900
2006 $1,248 $3,658 $2,366 $7,971
2005 $1,183 $3,456 $1,875 $7,142
2004 $1,099 $3,255 $1,401 $6,663
2003 $1,021 $3,046 $1,076 $5,764
2002 $1,014 $2,948 $903 $5,123
2001 $1,052 $2,917 $800 $4,747
2000 $1,017 $2,806 $653 $4,228
1999 $980 $2,672 $632 $3,871
1998 $949 $2,497 $831 $3,794
1997 $913 $2,418 $987 $3,794
1996 $911 $2,325 $870 $3,812
1995 $892 $2,187 $933 $4,124
1994 $849 $2,064 $1,009 $4,565
1993 $394 $1,998 $1,254 $5,766
1992 $411 $2,003 $1,413 $6,568
1991 $350 $1,995 $1,483 $7,148
1990 $242.5 $1,979 $1,564 $7,591
1989 $249.2 - $1,593 -
1988 $662 - $1,444 -
1987 $992 - $1,244 -
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 (1960–2024, retrieved 2026-04-06).

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

Nicaragua's GDP per capita is $2,848, ranking 141/197, compared to $5,038 in Ukraine, ranking 120/197. Adjusted for purchasing power (GDP per capita PPP), Nicaragua ranks 138th at $8,709, while Ukraine ranks 101st at $18,550.

Economic indicators

Nicaragua Ukraine
Gross domestic product
$19.7B
2024
$191B
2024
GDP rank
131/197
2024
57/197
2024
GDP growth
3.59%
2023-2024
2.91%
2023-2024
GDP per capita
$2,848
2024
$5,038
2024
GDP per capita rank
141/197
2024
120/197
2024
GDP per capita, PPP
$8,709
2024
$18,550
2024
GDP per capita PPP rank
138/197
2024
101/197
2024
Government debt
$7.71B
2024
$171B
2024
Debt-to-GDP ratio
39.1%
2024
89.7%
2024
Government debt per person
$1,115
2024
$4,520
2024
Government debt per person rank
138/185
2024
86/185
2024
Average annual personal income after taxes
$2,318
2026
$5,370
2026
Market capitalization of domestic companies n/a
$4.42B
2018
Number of billionaires n/a
7
2025
Income share by richest 10%
37.2%
2014
21.7%
2020
Income share by poorest 10%
2%
2014
4.3%
2020
Government expenditure, % of GDP
27.1%
2024
71.3%
2024
Consumer prices inflation
4.6%
2023-2024
6.5%
2023-2024
Central bank interest rate
6%
2025
15.5%
2025
Unemployment rate
5.2%
2018
9.83%
2021
Population
7124343
40125599

Spending and national debt comparison by year

Nicaragua
Spending

Debt
Ukraine
Spending

Debt
1x
Year % of GDP
Nicaragua Ukraine
Government spending Government debt Government spending Government debt
2024 27.1% 39.1% 71.3% 89.7%
2023 26% 42.3% 73.4% 81.2%
2022 28.6% 45.9% 65.4% 77.7%
2021 30% 48.4% 40.5% 48.9%
2020 28.9% 49.2% 45.6% 60.5%
2019 27.7% 44.2% 41.5% 50.5%
2018 27.7% 39.1% 41.9% 60.4%
2017 27.3% 34.7% 41.7% 71.6%
2016 26.8% 30.9% 40.8% 79.5%
2015 25.4% 28.9% 43% 79.3%
2014 24.6% 28.7% 44.8% 70.3%
2013 24.2% 28.8% 48.1% 40.5%
2012 24.1% 27.9% 49% 37.5%
2011 23.5% 28.8% 45.7% 36.9%
2010 22.6% 30.3% 49.2% 40.6%
2009 22.7% 29.3% 48.6% 35.4%
2008 21.9% 26% 47.1% 20.4%
2007 21.5% 30.9% 43.7% 12.3%
2006 21.4% 51.2% 44.6% 14.8%
2005 21.3% 66.6% 44.2% 17.7%
2004 20.8% 84% 41.6% 24.8%
2003 20.9% 109.5% 38.9% 29.4%
2002 18.7% 110.4% 37.9% 33.6%
2001 19.2% 87.5% 36.7% 36.7%
2000 20.6% 95.2% 35.5% 43.8%
1999 22.1% 99.8% 25.8% 59%
1998 18.5% 86.5% 37.1% 46.5%
1997 17.9% 86.4% 40.8% 28.9%
1996 18% - 36.9% 24.4%
1995 17.7% - 41.3% 30.2%
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 (1995–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-02-20).

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

In 2024, Nicaragua's government spending was $5.34B, accounting for 27.1% of its GDP, while Ukraine spent $136B, or 71.3% of GDP.

Debt-to-GDP ratio is 39.1% in Nicaragua and 89.7% in Ukraine, ranking 136/185 and 33/185, respectively.

Government deficit by year

Deficit/surplus
Nicaragua

Ukraine
1x
Year Deficit/surplus, % of GDP
Nicaragua Ukraine
2024 2.48% -17.2%
2023 2.31% -19.3%
2022 0.65% -15.6%
2021 -1.26% -3.97%
2020 -2.57% -5.92%
2019 -1.12% -2.08%
2018 -4.35% -2.12%
2017 -1.75% -2.36%
2016 -1.92% -2.46%
2015 -1.64% -1.16%
2014 -0.89% -4.46%
2013 -0.3% -4.78%
2012 0.22% -4.31%
2011 0.59% -2.76%
2010 0.69% -5.77%
2009 -0.9% -6.27%
2008 0.27% -3.14%
2007 1.88% -1.97%
2006 1.36% -1.36%
2005 1.72% -2.28%
2004 1.69% -4.41%
2003 1.3% -0.89%
2002 2.07% -1.84%
2001 0.34% -3.03%
2000 2.15% -3.19%
1999 -6.86% 4.95%
1998 -2.88% -2.69%
1997 -3.31% -5.37%
1996 -5% -3.09%
1995 -4.62% -4.72%
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 (1995–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-02-20).

GeoRank.org/economy/nicaragua/ukraine | 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 Ukraine's deficit of $32.8B, or 17.2% of GDP.

Over the past 30 years, Nicaragua recorded a fiscal deficit in 15 of those years, while Ukraine ran a deficit in 29 years. On average, Nicaragua posted an annual deficit equal to 0.65% of GDP, compared to deficit of 4.45% of GDP for Ukraine.

Inflation comparison by year

Inflation
Nicaragua

Ukraine
1x
Year Consumer prices inflation
Nicaragua Ukraine
2024 4.6% 6.5%
2023 8.4% 12.9%
2022 10.5% 20.2%
2021 4.9% 9.4%
2020 3.7% 2.7%
2019 5.4% 7.9%
2018 4.9% 10.9%
2017 3.9% 14.4%
2016 3.5% 13.9%
2015 4% 48.7%
2014 6% 12.1%
2013 7.1% -0.3%
2012 7.2% 0.6%
2011 8.1% 8%
2010 5.5% 9.4%
2009 3.7% 15.9%
2008 19.8% 25.2%
2007 11.1% 12.8%
2006 9.1% 9.1%
2005 9.6% 13.5%
2004 8.5% 9%
2003 5.3% 5.2%
2002 3.8% 0.8%
2001 7.4% 12%
2000 11.5% 28.2%
1999 11.2% 22.7%
1998 13% 10.6%
1997 9.2% 15.9%

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

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

Over the past 28 years, Nicaragua has recorded an average annual inflation rate of 7.53%, compared with 12.8% in Ukraine. In 2024, inflation was 4.6% in Nicaragua and 6.5% in Ukraine.

Top exports between countries

Nicaragua
Export category Export value
Raw agricultural goods $570K
Animal & marine products $152K
Textiles & consumer goods $7K
Processed food, beverages & tobacco $4K
Machinery & equipment $2K
Ukraine
Export category Export value
Chemicals & pharma $1.3M
Raw materials & minerals $28K
Machinery & equipment $15K
Raw agricultural goods $8K
Metals $2K

Balance of trade

Nicaragua Ukraine
Current account balance
$818M
2024
-$15.1B
2024
Current account balance ranking
55/190
2024
179/190
2024
Current account balance, % of GDP
+4.15%
2024
-7.94%
2024
Goods imports
$10.1B
2024
$72.3B
2024
Goods exports
$6.84B
2024
$39.3B
2024
Service imports
$1.31B
2024
$22.9B
2024
Service exports
$1.3B
2024
$17.3B
2024
Imports of goods and services, % of GDP
58.1%
2024
48.3%
2024
Exports of goods and services, % of GDP
40.5%
2024
29.4%
2024

Economic freedom indices

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

Nicaragua Ukraine
Economic freedom 53.6 54.1
Economic freedom ranking 139/197 135/197
Property rights 23.8 21.6
Government integrity 13.4 35
Judicial effectiveness 8.8 28.2
Tax burden 74.5 83.7
Government spending 77.7 0
Fiscal health 96.9 3.9
Business freedom 54.4 57.4
Labor freedom 47.3 46.9
Monetary freedom 69.4 65.7
Trade freedom 67 73
Investment freedom 60 35
Financial freedom 50 30

Economic freedom comparison by year

Nicaragua
Ukraine
1x
Year Economic freedom index
Nicaragua Ukraine
2026 53.6 -
2025 54 -
2024 53.4 -
2023 54.9 -
2022 54.8 54.1
2021 56.3 56.2
2020 57.2 54.9
2019 57.7 52.3
2018 58.9 51.9
2017 59.2 48.1
2016 58.6 46.8
2015 57.6 46.9
2014 58.4 49.3
2013 56.6 46.3
2012 57.9 46.1
2011 58.8 45.8
2010 58.3 46.4
2009 59.8 48.8
2008 60.8 51
2007 62.7 51.5
2006 63.8 54.4
2005 62.5 55.8
2004 61.4 53.7
2003 62.6 51.1
2002 61.1 48.2
2001 58 48.5
2000 56.9 47.8
1999 54 43.7
1998 53.8 40.4
1997 53.3 43.5
1996 54.1 40.6
1995 42.5 39.9

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

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

The Economic Freedom Index for Nicaragua is 53.6, ranking 139/197, compared to 54.1 for Ukraine, ranking 135/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Nicaragua Ukraine
Services, % of GDP
46.8%
2024
60.6%
2024
Industry, % of GDP
27.6%
2024
19%
2024
Agriculture, forestry, and fishing, % of GDP
14.4%
2024
7.11%
2024
GNI, Atlas method
$17.4B
2024
$184B
2024
GNI per capita, PPP
$8,270
2024
$18,560
2024
Total reserves including gold
$6.1B
2024
$43.8B
2024
Total reserves ranking
91/177
2024
46/177
2024
Net foreign direct investment
-$1.28B
2024
-$3.71B
2024
Net inflows of foreign direct investment
$1.35B
2024
$4.02B
2024
Net outflows of foreign direct investment
$73.8M
2024
$305M
2024
Servicing debt to the IMF, % of GNI
9.74%
2024
5.42%
2024
Poverty at national poverty lines
24.9%
2016
23.2%
2020
Gross capital formation, % of GDP
24.7%
2024
18.6%
2024

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/ukraine | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, 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. TradeMap (2020–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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.