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Economy of Nicaragua vs Uruguay compared: GDP & Debt

Updated on by Georank

Nicaragua has a GDP of $22.2B compared to $85.3B for Uruguay, ranking 128/197 and 84/197 by economy size, respectively.

Nicaragua has $7.74B in government debt (34.8% of GDP), compared to $56B (65.7% of GDP) in Uruguay.

Nicaragua vs Uruguay GDP by year

Nicaragua
Uruguay
1x
Year GDP, current $
Nicaragua Uruguay
2025 $22,237,167,113 $85,347,696,278
2024 $19,696,311,850 $82,322,859,144
2023 $17,805,842,221 $79,208,725,900
2022 $15,634,573,556 $71,240,669,088
2021 $14,209,019,392 $60,739,061,281
2020 $12,726,422,432 $53,559,354,501
2019 $12,699,023,614 $62,222,324,965
2018 $13,025,221,974 $65,344,577,416
2017 $13,785,893,007 $65,006,039,810
2016 $13,286,093,388 $57,480,787,465
2015 $12,756,696,261 $57,680,327,999
2014 $11,880,438,824 $61,496,186,974
2013 $10,982,988,249 $61,337,621,934
2012 $10,532,017,232 $54,232,266,359
2011 $9,774,329,333 $50,342,406,067
2010 $8,758,602,233 $41,950,361,212
2009 $8,298,702,489 $32,708,319,078
2008 $8,496,967,597 $31,119,602,539
2007 $7,423,375,015 $23,797,773,024
2006 $6,763,672,381 $19,741,420,740
2005 $6,321,324,279 $17,362,857,684
2004 $5,792,932,838 $13,686,329,890
2003 $5,322,228,351 $12,045,638,352
2002 $5,223,727,303 $13,606,515,723
2001 $5,351,752,034 $20,898,761,742
2000 $5,109,587,050 $22,823,270,892
1999 $4,856,026,259 $23,983,945,191
1998 $4,635,347,386 $25,385,886,978
1997 $4,389,973,490 $23,969,739,234
1996 $4,308,351,903 $20,515,458,114
1995 $4,140,470,000 $19,297,663,097
1994 $3,863,185,119 $17,474,588,896
1993 $1,756,454,248 $15,002,136,971
1992 $1,792,800,000 $12,878,148,791
1991 $1,488,804,124 $11,206,176,651
1990 $1,009,455,484 $9,298,807,850
1989 $1,013,184,756 $8,438,951,476
1988 $2,630,900,096 $8,213,538,369
1987 $3,851,200,118 $7,367,494,080
1986 $2,885,799,994 $5,880,112,788
1985 $2,683,699,935 $4,732,017,873
1984 $3,117,599,872 $4,850,238,550
1983 $2,753,100,058 $5,102,276,308
1982 $2,454,499,872 $9,178,780,077
1981 $2,474,700,227 $11,048,301,421
1980 $2,144,300,006 $10,163,020,116
1979 $1,567,599,982 $7,181,182,224
1978 $2,127,699,979 $4,910,254,566
1977 $2,226,999,874 $4,114,670,014
1976 $1,836,899,999 $3,667,161,241
1975 $1,581,599,959 $3,538,278,047
1974 $1,521,400,012 $4,090,209,682
1973 $1,092,900,015 $3,964,296,443
1972 $878,570,045 $2,189,418,689
1971 $828,569,953 $2,807,258,065
1970 $778,569,939 $2,137,096,774
1969 $750,000,003 $2,004,435,484
1968 $692,859,985 $1,593,674,185
1967 $657,140,011 $1,597,713,469
1966 $607,140,010 $1,809,185,094
1965 $564,290,020 $1,890,767,156
1964 $347,119,918 $1,975,701,816
1963 $297,324,163 $1,539,681,491
1962 $269,283,804 $1,710,004,407
1961 $244,144,237 $1,547,388,781
1960 $227,223,322 $1,242,289,239

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

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

GDP per capita in Nicaragua vs Uruguay by year

Nicaragua
GDP per capita

GDP per capita, PPP
Uruguay
GDP per capita

GDP per capita, PPP
1x
Year Current $
Nicaragua Uruguay
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $3,173 - $25,216 -
2024 $2,848 $8,709 $24,308 $36,418
2023 $2,609 $8,320 $23,379 $34,471
2022 $2,323 $7,797 $21,009 $33,001
2021 $2,138 $7,119 $17,882 $29,432
2020 $1,938 $6,274 $15,758 $25,725
2019 $1,959 $5,981 $18,316 $25,783
2018 $2,035 $5,935 $19,250 $24,386
2017 $2,183 $6,225 $19,185 $23,607
2016 $2,132 $5,882 $17,010 $22,841
2015 $2,074 $5,449 $17,126 $22,169
2014 $1,958 $5,068 $18,322 $21,868
2013 $1,835 $4,711 $18,335 $20,661
2012 $1,785 $4,508 $16,260 $19,495
2011 $1,680 $4,325 $15,132 $19,135
2010 $1,527 $4,042 $12,641 $17,873
2009 $1,467 $3,880 $9,881 $16,422
2008 $1,524 $4,044 $9,424 $15,694
2007 $1,350 $3,891 $7,222 $14,397
2006 $1,248 $3,658 $6,001 $13,179
2005 $1,183 $3,456 $5,284 $12,296
2004 $1,099 $3,255 $4,169 $11,103
2003 $1,021 $3,046 $3,671 $10,303
2002 $1,014 $2,948 $4,150 $10,030
2001 $1,052 $2,917 $6,383 $10,719
2000 $1,017 $2,806 $6,988 $10,929
1999 $980 $2,672 $7,371 $10,938
1998 $949 $2,497 $7,837 $11,002
1997 $913 $2,418 $7,436 $10,461
1996 $911 $2,325 $6,398 $9,524
1995 $892 $2,187 $6,050 $8,906
1994 $849 $2,064 $5,508 $8,897
1993 $394 $1,998 $4,753 $8,162
1992 $411 $2,003 $4,102 $7,808
1991 $350 $1,995 $3,589 $7,112
1990 $242.5 $1,979 $2,995 $6,683
1989 $249.2 - $2,734 -
1988 $662 - $2,677 -
1987 $992 - $2,416 -
1986 $761 - $1,939 -
1985 $724 - $1,568 -
1984 $861 - $1,615 -
1983 $780 - $1,707 -
1982 $714 - $3,085 -
1981 $740 - $3,728 -
1980 $659 - $3,443 -
1979 $495 - $2,443 -
1978 $691 - $1,678 -
1977 $744 - $1,414 -
1976 $633 - $1,268 -
1975 $561 - $1,232 -
1974 $557 - $1,433 -
1973 $413 - $1,397 -
1972 $341 - $776 -
1971 $331 - $1,000 -
1970 $321 - $766 -
1969 $319 - $723 -
1968 $304 - $579 -
1967 $297.9 - $585 -
1966 $284 - $668 -
1965 $272.3 - $705 -
1964 $172.7 - $745 -
1963 $152.5 - $587 -
1962 $142.3 - $659 -
1961 $132.9 - $604 -
1960 $127.5 - $491 -

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

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

Nicaragua's GDP per capita is $3,173, ranking 140/197, compared to $25,216 in Uruguay, ranking 54/197. Adjusted for purchasing power (GDP per capita PPP), Nicaragua ranks 138th at $8,709, while Uruguay ranks 61st at $36,418.

Economic indicators

Nicaragua Uruguay
Gross domestic product
$22.2B
2025
$85.3B
2025
GDP rank
128/197
2025
84/197
2025
GDP growth
4.92%
2024-2025
1.78%
2024-2025
GDP per capita
$3,173
2025
$25,216
2025
GDP per capita rank
140/197
2025
54/197
2025
GDP per capita, PPP
$8,709
2024
$36,418
2024
GDP per capita PPP rank
138/197
2024
61/197
2024
Government debt
$7.74B
2025
$56B
2025
Debt-to-GDP ratio
34.8%
2025
65.7%
2025
Government debt per person
$1,104
2025
$16,559
2025
Government debt per person rank
142/185
2025
41/185
2025
Average annual personal income after taxes
$1,939
2026
$14,046
2026
Market capitalization of domestic companies n/a
$284M
1996
Income share by richest 10%
37.2%
2014
30%
2024
Income share by poorest 10%
2%
2014
2.2%
2024
Government expenditure, % of GDP
26.1%
2025
31.5%
2025
Consumer prices inflation
2.1%
2024-2025
4.65%
2024-2025
Central bank interest rate
6%
2025
5.75%
2026
Unemployment rate
5.2%
2018
8.21%
2024
Population
7144725
3382672

Spending and national debt comparison by year

Nicaragua
Spending

Debt
Uruguay
Spending

Debt
1x
Year % of GDP
Nicaragua Uruguay
Government spending Government debt Government spending Government debt
2025 26.1% 34.8% 31.5% 65.7%
2024 26.2% 37.9% 30.6% 67.6%
2023 26% 42.4% 30.1% 63%
2022 28.6% 45.9% 29.7% 59.4%
2021 30% 48.4% 30.2% 64.1%
2020 28.9% 49.2% 32.8% 68.2%
2019 27.7% 44.2% 30.6% 59.6%
2018 27.7% 39.1% 30.3% 57.9%
2017 27.3% 34.7% 29.7% 55.8%
2016 26.8% 30.9% 29.7% 56.4%
2015 25.4% 28.9% 28.4% 57.8%
2014 24.6% 28.7% 29.1% 51.1%
2013 24.2% 28.8% 28.8% 50%
2012 24.1% 27.9% 27.7% 49.8%
2011 23.5% 28.8% 26.3% 41.3%
2010 22.6% 30.3% 27.4% 40.9%
2009 22.7% 29.3% 27.2% 46.2%
2008 21.9% 26% 26.3% 46.2%
2007 21.5% 30.9% 26.8% 52.8%
2006 21.4% 51.2% 26.8% 61.1%
2005 21.3% 66.6% 26.3% 66.2%
2004 20.8% 84% 26.6% 73.7%
2003 20.9% 109.5% 27.7% 91.9%
2002 18.7% 110.4% 27.6% 90.1%
2001 19.2% 87.5% 27.8% 39.4%
2000 20.6% 95.2% 26.6% 30.5%
1999 22.1% 99.8% 27.2% 24.1%
1998 18.5% 86.5% 27.3% 19.4%
1997 17.9% 86.4% 27.6% 18.8%
1996 18% - 26.5% 18.3%
1995 17.7% - 26.2% 18.5%
1994 18.4% - 29.5% 19.3%
1993 18.4% - 27.7% 20%
1992 18.4% - 23.6% 22.2%
1991 16.8% - 22.2% 20.4%
1990 28.2% - 21.1% 26.2%
1989 - - 37% -
1988 24.8% - 26% 34.8%
1987 - 266.6% 24.4% 37.3%
1986 26.1% 159.2% 25.1% 34.6%
1985 29.9% 218% 24.6% 29%
1984 31.9% 198% 25.6% 39.5%
1983 33.8% 211.6% 26.5% 21.2%
1982 49.4% 159.1% 29.5% 13.5%
1981 39.3% 149.1% 25% 4.32%
1980 30.4% 152.1% 21.8% 4.59%
1979 20.7% 116.3% 20.2% 3.98%
1978 17.7% 76.9% 22.9% 5.64%
1977 19.9% 62.7% 23.5% 7.26%
1976 16.2% 59.5% 24.2% 8.67%
1975 17.5% 57.8% 23% 8.13%
1974 15.3% 40% 23.8% 7.61%
1973 12.8% 32.9% 22.6% 7%
1972 15.1% 30.2% 24.6% 9.12%
1971 15.1% 31.6% 20.1% 9.3%
1970 13.2% 35.4% 15.1% 6.11%
1969 11.1% - 14.6% -
1968 10.9% - 14.1% -
1967 12.7% - 14.7% -
1966 12.2% - 14.1% -
1965 10.9% - 15.6% -
1964 10.2% - 14.3% -
1963 10.5% - 14.6% -
1962 10.6% - 16% -
1961 9.93% - 13% -
1960 11.2% - 9.9% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1997–2025, retrieved 2026-07-08).

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

In 2025, Nicaragua's government spending was $5.8B, accounting for 26.1% of its GDP, while Uruguay spent $26.9B, or 31.5% of GDP.

Debt-to-GDP ratio is 34.8% in Nicaragua and 65.7% in Uruguay, ranking 145/185 and 66/185, respectively.

Government deficit by year

Deficit/surplus
Nicaragua

Uruguay
1x
Year Deficit/surplus, % of GDP
Nicaragua Uruguay
2025 2.1% -3.36%
2024 2.25% -3.16%
2023 2.3% -3.09%
2022 0.65% -2.5%
2021 -1.26% -2.61%
2020 -2.57% -4.64%
2019 -1.12% -2.71%
2018 -4.35% -1.89%
2017 -1.75% -2.51%
2016 -1.92% -2.68%
2015 -1.64% -1.86%
2014 -0.89% -2.6%
2013 -0.3% -1.72%
2012 0.22% -2.17%
2011 0.59% -0.33%
2010 0.69% -0.39%
2009 -0.9% -1.39%
2008 0.27% -1.31%
2007 1.88% -0.16%
2006 1.36% -0.64%
2005 1.72% -0.28%
2004 1.69% -0.87%
2003 1.3% -2.19%
2002 2.07% -3.19%
2001 0.34% -2.85%
2000 2.15% -2.76%
1999 -6.86% -2.76%
1998 -2.88% -0.76%
1997 -3.31% -0.97%
1996 -5% -1.32%
1995 -4.62% -1.08%
1994 -5.79% -2.37%
1993 -4.66% -0.47%
1992 -3.8% 0.6%
1991 -3.45% 0.88%
1990 -15.2% 0.49%
1989 - -13.1%
1988 -22.4% -1.47%
1987 - -0.66%
1986 -7.33% -0.34%
1985 -11.3% -1.88%
1984 -11.8% -4.94%
1983 -15.6% -3.54%
1982 -20.2% -8.22%
1981 -10.6% -1.15%
1980 -6.53% 0.43%
1979 -5.89% 0.99%
1978 -4.44% -0.47%
1977 -5.91% -0.69%
1976 -2.2% -2.01%
1975 -3.53% -4.38%
1974 -1.41% -3.74%
1973 1.21% -1.09%
1972 -2.61% -2.25%
1971 -2.33% -5.86%
1970 -2.69% -1.33%
1969 -1.57% -2.37%
1968 -1.21% -2.93%
1967 -2.11% -4.12%
1966 -1.04% -2.01%
1965 0.3% -5.14%
1964 0.2% -3.61%
1963 0.75% -4.4%
1962 -0.29% -5.02%
1961 0.04% -0.86%
1960 -1.28% 0.79%
1959 - 0.64%
1958 - -1.38%
1957 - -0.72%
1956 - 0.04%
1955 - -1.24%

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1955–1999, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1999–2025, retrieved 2026-07-08).

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

In 2025, Nicaragua's government surplus, the difference between spending and revenue, was $467M, equivalent to 2.1% of GDP. This compares to Uruguay's deficit of $2.86B, or 3.36% of GDP.

Over the past 66 years, Nicaragua recorded a fiscal deficit in 43 of those years, while Uruguay ran a deficit in 60 years. On average, Nicaragua posted an annual deficit equal to 3.01% of GDP, compared to deficit of 2.23% of GDP for Uruguay.

Inflation comparison by year

Inflation
Nicaragua

Uruguay
1x
Year Consumer prices inflation
Nicaragua Uruguay
2025 2.1% 4.65%
2024 4.6% 4.85%
2023 8.4% 5.87%
2022 10.5% 9.1%
2021 4.9% 7.75%
2020 3.7% 9.76%
2019 5.4% 7.88%
2018 4.9% 7.61%
2017 3.9% 6.22%
2016 3.5% 9.64%
2015 4% 8.67%
2014 6% 8.88%
2013 7.1% 8.58%
2012 7.2% 8.1%
2011 8.1% 8.09%
2010 5.5% 6.7%
2009 3.7% 7.06%
2008 19.8% 7.88%
2007 11.1% 8.11%
2006 9.1% 6.4%
2005 9.6% 4.7%
2004 8.5% 9.16%
2003 5.3% 19.4%
2002 3.8% 14%
2001 7.4% 4.36%
2000 11.5% 4.76%
1999 11.2% 5.66%
1998 13% 10.8%
1997 9.2% 19.8%

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

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

Over the past 29 years, Nicaragua has recorded an average annual inflation rate of 7.34%, compared with 8.43% in Uruguay. In 2025, inflation was 2.1% in Nicaragua and 4.65% in Uruguay.

Top exports between countries

Nicaragua
Export category Export value
Processed food, beverages & tobacco $86K
Textiles & consumer goods $21K
Machinery & equipment $10K
Metals $6K
Chemicals & pharma $1K
Uruguay
Export category Export value
Chemicals & pharma $4M
Raw materials & minerals $233K
Machinery & equipment $69K
Metals $30K
Processed food, beverages & tobacco $23K
Textiles & consumer goods $18K

Balance of trade

Nicaragua Uruguay
Current account balance
$818M
2024
-$374M
2025
Current account balance ranking
52/190
2024
100/190
2025
Current account balance, % of GDP
+4.15%
2024
-0.44%
2025
Goods imports
$10.1B
2024
$13.6B
2025
Goods exports
$6.84B
2024
$16.1B
2025
Service imports
$1.31B
2024
$5.96B
2025
Service exports
$1.3B
2024
$7.39B
2025
Imports of goods and services, % of GDP
54.9%
2025
22.6%
2025
Exports of goods and services, % of GDP
41.6%
2025
27.1%
2025

Economic freedom indices

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

Nicaragua Uruguay
Economic freedom 53.6 69.8
Economic freedom ranking 139/197 39/197
Property rights 23.8 87.4
Government integrity 13.4 79
Judicial effectiveness 8.8 80.9
Tax burden 74.5 73.3
Government spending 77.7 72
Fiscal health 96.9 76.6
Business freedom 54.4 83.8
Labor freedom 47.3 61.7
Monetary freedom 69.4 70.2
Trade freedom 67 73.2
Investment freedom 60 50
Financial freedom 50 30

Economic freedom comparison by year

Nicaragua
Uruguay
1x
Year Economic freedom index
Nicaragua Uruguay
2026 53.6 69.8
2025 54 70.2
2024 53.4 69.8
2023 54.9 70.2
2022 54.8 70
2021 56.3 69.3
2020 57.2 69.1
2019 57.7 68.6
2018 58.9 69.2
2017 59.2 69.7
2016 58.6 68.8
2015 57.6 68.6
2014 58.4 69.3
2013 56.6 69.7
2012 57.9 69.9
2011 58.8 70
2010 58.3 69.8
2009 59.8 69.1
2008 60.8 67.9
2007 62.7 68.4
2006 63.8 65.3
2005 62.5 66.9
2004 61.4 66.7
2003 62.6 69.8
2002 61.1 68.7
2001 58 70.7
2000 56.9 69.3
1999 54 68.5
1998 53.8 68.6
1997 53.3 67.5
1996 54.1 63.7
1995 42.5 62.5

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

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

The Economic Freedom Index for Nicaragua is 53.6, ranking 139/197, compared to 69.8 for Uruguay, ranking 39/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Nicaragua Uruguay
Services, % of GDP
45.2%
2025
65.2%
2025
Industry, % of GDP
29.3%
2025
16.9%
2025
Agriculture, forestry, and fishing, % of GDP
14.5%
2025
6.38%
2025
GNI, Atlas method
$19.9B
2025
$81.3B
2025
GNI per capita, PPP
$8,780
2025
$36,330
2025
Total reserves including gold
$8.32B
2025
$19B
2025
Total reserves ranking
87/177
2025
67/177
2025
Net foreign direct investment
-$1.28B
2024
-$457M
2025
Net inflows of foreign direct investment
$1.35B
2024
-$3.94B
2024
Net outflows of foreign direct investment
$73.8M
2024
-$1.37B
2024
Servicing debt to the IMF, % of GNI
9.74%
2024
n/a
Poverty at national poverty lines
24.9%
2016
17.3%
2024
Gross capital formation, % of GDP
25.8%
2025
16.2%
2025

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/uruguay | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1955–1999, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1997–2025, 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. TradeMap (2023–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, 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.