Skip to content

Economy of Nicaragua vs Zambia compared: GDP & Debt

Updated on by Georank team

Nicaragua has a GDP of $19.7B compared to $25.3B for Zambia, ranking 131/197 and 116/197 by economy size, respectively.

Nicaragua has $7.71B in government debt (39.1% of GDP), compared to $29.1B (114.9% of GDP) in Zambia.

Nicaragua vs Zambia GDP by year

Nicaragua
Zambia
1x
Year GDP, current $
Nicaragua Zambia
2024 $19,693,982,968 $25,303,185,342
2023 $17,805,842,284 $27,577,956,471
2022 $15,634,572,502 $29,163,782,140
2021 $14,209,020,362 $22,096,416,932
2020 $12,726,422,432 $18,137,764,931
2019 $12,699,023,614 $23,308,667,781
2018 $13,025,221,974 $26,311,507,274
2017 $13,785,893,007 $25,873,601,261
2016 $13,286,093,388 $20,958,412,538
2015 $12,756,696,261 $21,251,216,799
2014 $11,880,438,824 $27,141,023,558
2013 $10,982,988,249 $28,037,239,463
2012 $10,532,017,232 $25,503,060,420
2011 $9,774,329,333 $23,459,515,276
2010 $8,758,602,233 $20,265,559,484
2009 $8,298,702,489 $15,328,342,304
2008 $8,496,967,597 $17,910,858,638
2007 $7,423,375,015 $14,056,957,976
2006 $6,763,672,381 $12,756,858,899
2005 $6,321,324,279 $8,331,870,169
2004 $5,792,932,838 $6,221,110,219
2003 $5,322,228,351 $4,901,869,764
2002 $5,223,727,303 $4,193,850,445
2001 $5,351,752,034 $4,094,441,301
2000 $5,109,587,050 $3,600,632,111
1999 $4,856,026,259 $3,404,284,891
1998 $4,635,347,386 $3,537,741,942
1997 $4,389,973,490 $4,303,288,480
1996 $4,308,351,903 $3,597,220,962
1995 $4,140,470,000 $3,806,983,413
1994 $3,863,185,119 $3,656,806,166
1993 $1,756,454,248 $3,273,505,344
1992 $1,792,800,000 $3,182,810,841
1991 $1,488,804,124 $3,376,806,697
1990 $1,009,455,484 $3,288,381,797
1989 $1,013,184,756 $3,994,673,161
1988 $2,630,900,096 $3,728,878,149
1987 $3,851,200,118 $2,265,250,972
1986 $2,885,799,994 $1,664,413,508
1985 $2,683,699,935 $2,252,454,500
1984 $3,117,599,872 $2,719,518,933
1983 $2,753,100,058 $3,321,048,451
1982 $2,454,499,872 $3,871,117,093
1981 $2,474,700,227 $4,008,126,497
1980 $2,144,300,006 $3,884,530,854
1979 $1,567,599,982 $3,353,445,378
1978 $2,127,699,979 $2,811,032,473
1977 $2,226,999,874 $2,515,296,940
1976 $1,836,899,999 $2,742,859,263
1975 $1,581,599,959 $2,442,672,141
1974 $1,521,400,012 $2,910,981,262
1973 $1,092,900,015 $2,434,255,237
1972 $878,570,045 $1,872,416,680
1971 $828,569,953 $1,653,259,341
1970 $778,569,939 $1,788,779,285
1969 $750,000,003 $1,926,399,230
1968 $692,859,985 $1,573,739,371
1967 $657,140,011 $1,340,639,464
1966 $607,140,010 $1,238,999,505
1965 $564,290,020 $1,061,199,576
1964 $347,119,918 $822,639,671
1963 $297,324,163 $704,339,719
1962 $269,283,804 $679,279,729
1961 $244,144,237 $682,359,727
1960 $227,223,322 $698,739,721

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Nicaragua vs Zambia by year

Nicaragua
GDP per capita

GDP per capita, PPP
Zambia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Nicaragua Zambia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,848 $8,709 $1,187 $4,215
2023 $2,609 $8,320 $1,331 $4,077
2022 $2,323 $7,797 $1,447 $3,841
2021 $2,138 $7,119 $1,127 $3,503
2020 $1,938 $6,274 $952 $3,157
2019 $1,959 $5,981 $1,259 $3,361
2018 $2,035 $5,935 $1,464 $3,442
2017 $2,183 $6,225 $1,483 $3,392
2016 $2,132 $5,882 $1,239 $3,313
2015 $2,074 $5,449 $1,296 $3,337
2014 $1,958 $5,068 $1,707 $3,441
2013 $1,835 $4,711 $1,821 $3,477
2012 $1,785 $4,508 $1,710 $3,324
2011 $1,680 $4,325 $1,625 $3,228
2010 $1,527 $4,042 $1,451 $3,098
2009 $1,467 $3,880 $1,136 $2,872
2008 $1,524 $4,044 $1,376 $2,708
2007 $1,350 $3,891 $1,119 $2,555
2006 $1,248 $3,658 $1,052 $2,378
2005 $1,183 $3,456 $711 $2,213
2004 $1,099 $3,255 $549 $2,068
2003 $1,021 $3,046 $446 $1,942
2002 $1,014 $2,948 $394 $1,837
2001 $1,052 $2,917 $397 $1,785
2000 $1,017 $2,806 $359 $1,709
1999 $980 $2,672 $350 $1,654
1998 $949 $2,497 $373 $1,601
1997 $913 $2,418 $466 $1,631
1996 $911 $2,325 $400 $1,585
1995 $892 $2,187 $433 $1,501
1994 $849 $2,064 $426 $1,464
1993 $394 $1,998 $391 $1,607
1992 $411 $2,003 $389 $1,505
1991 $350 $1,995 $423 $1,534
1990 $242.5 $1,979 $422 $1,522
1989 $249.2 - $526 -
1988 $662 - $504 -
1987 $992 - $315 -
1986 $761 - $238.2 -
1985 $724 - $332 -
1984 $861 - $413 -
1983 $780 - $520 -
1982 $714 - $627 -
1981 $740 - $670 -
1980 $659 - $669 -
1979 $495 - $595 -
1978 $691 - $514 -
1977 $744 - $474 -
1976 $633 - $533 -
1975 $561 - $490 -
1974 $557 - $601 -
1973 $413 - $518 -
1972 $341 - $410 -
1971 $331 - $372 -
1970 $321 - $414 -
1969 $319 - $459 -
1968 $304 - $387 -
1967 $297.9 - $341 -
1966 $284 - $325 -
1965 $272.3 - $287.4 -
1964 $172.7 - $230 -
1963 $152.5 - $203.2 -
1962 $142.3 - $202.3 -
1961 $132.9 - $209.7 -
1960 $127.5 - $221.6 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

Nicaragua's GDP per capita is $2,848, ranking 141/197, compared to $1,187 in Zambia, ranking 169/197. Adjusted for purchasing power (GDP per capita PPP), Nicaragua ranks 138th at $8,709, while Zambia ranks 166th at $4,215.

Economic indicators

Nicaragua Zambia
Gross domestic product
$19.7B
2024
$25.3B
2024
GDP rank
131/197
2024
116/197
2024
GDP growth
3.59%
2023-2024
3.82%
2023-2024
GDP per capita
$2,848
2024
$1,187
2024
GDP per capita rank
141/197
2024
169/197
2024
GDP per capita, PPP
$8,709
2024
$4,215
2024
GDP per capita PPP rank
138/197
2024
166/197
2024
Government debt
$7.71B
2024
$29.1B
2024
Debt-to-GDP ratio
39.1%
2024
114.9%
2024
Government debt per person
$1,115
2024
$1,365
2024
Government debt per person rank
138/185
2024
134/185
2024
Average annual personal income after taxes
$2,318
2026
$1,349
2026
Market capitalization of domestic companies n/a
$7.77B
2024
Income share by richest 10%
37.2%
2014
39.1%
2022
Income share by poorest 10%
2%
2014
1.5%
2022
Government expenditure, % of GDP
27.1%
2024
25.5%
2024
Consumer prices inflation
4.6%
2023-2024
15%
2023-2024
Central bank interest rate
6%
2025
14.3%
2025
Unemployment rate
5.2%
2018
5.86%
2023
Population
7124343
22697916

Spending and national debt comparison by year

Nicaragua
Spending

Debt
Zambia
Spending

Debt
1x
Year % of GDP
Nicaragua Zambia
Government spending Government debt Government spending Government debt
2024 27.1% 39.1% 25.5% 114.9%
2023 26% 42.3% 27.4% 129.1%
2022 28.6% 45.9% 28.2% 99.5%
2021 30% 48.4% 30.5% 111%
2020 28.9% 49.2% 34% 140%
2019 27.7% 44.2% 29.8% 103.3%
2018 27.7% 39.1% 27.7% 81.2%
2017 27.3% 34.7% 25% 66.6%
2016 26.8% 30.9% 23.9% 61.2%
2015 25.4% 28.9% 27.6% 61.9%
2014 24.6% 28.7% 24.3% 33.9%
2013 24.2% 28.8% 24% 25.9%
2012 24.1% 27.9% 21.9% 24.9%
2011 23.5% 28.8% 19.5% 20.8%
2010 22.6% 30.3% 18.1% 18.9%
2009 22.7% 29.3% 17.8% 20.5%
2008 21.9% 26% 19.5% 19.2%
2007 21.5% 30.9% 19.9% 21.9%
2006 21.4% 51.2% 19.7% 25%
2005 21.3% 66.6% 22.5% 75.7%
2004 20.8% 84% 23.3% 129.9%
2003 20.9% 109.5% 27.3% 159.5%
2002 18.7% 110.4% 27.6% 180.2%
2001 19.2% 87.5% 28% 210.2%
2000 20.6% 95.2% 21.4% 261%
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/zambia | CC BY

In 2024, Nicaragua's government spending was $5.34B, accounting for 27.1% of its GDP, while Zambia spent $6.45B, or 25.5% of GDP.

Debt-to-GDP ratio is 39.1% in Nicaragua and 114.9% in Zambia, ranking 136/185 and 13/185, respectively.

Government deficit by year

Deficit/surplus
Nicaragua

Zambia
1x
Year Deficit/surplus, % of GDP
Nicaragua Zambia
2024 2.48% -3.32%
2023 2.31% -5.48%
2022 0.65% -7.82%
2021 -1.26% -8.13%
2020 -2.57% -13.8%
2019 -1.12% -9.41%
2018 -4.35% -8.31%
2017 -1.75% -7.5%
2016 -1.92% -5.69%
2015 -1.64% -8.88%
2014 -0.89% -5.43%
2013 -0.3% -6.4%
2012 0.22% -3.16%
2011 0.59% -1.78%
2010 0.69% -2.43%
2009 -0.9% -2.06%
2008 0.27% -0.67%
2007 1.88% -1.04%
2006 1.36% 16.9%
2005 1.72% -2.37%
2004 1.69% -2.51%
2003 1.3% -5.31%
2002 2.07% -4.5%
2001 0.34% -5.89%
2000 2.15% 1.16%
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/zambia | 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 Zambia's deficit of $840M, or 3.32% of GDP.

Over the past 25 years, Nicaragua recorded a fiscal deficit in 10 of those years, while Zambia ran a deficit in 23 years. On average, Nicaragua posted an annual surplus equal to 0.12% of GDP, compared to deficit of 4.15% of GDP for Zambia.

Inflation comparison by year

Inflation
Nicaragua

Zambia
1x
Year Consumer prices inflation
Nicaragua Zambia
2024 4.6% 15%
2023 8.4% 10.9%
2022 10.5% 11%
2021 4.9% 22%
2020 3.7% 15.7%
2019 5.4% 9.2%
2018 4.9% 7.5%
2017 3.9% 6.6%
2016 3.5% 17.9%
2015 4% 10.1%
2014 6% 7.8%
2013 7.1% 7%
2012 7.2% 6.6%
2011 8.1% 8.7%
2010 5.5% 8.5%
2009 3.7% 13.4%
2008 19.8% 12.4%
2007 11.1% 10.7%
2006 9.1% 9%
2005 9.6% 18.3%
2004 8.5% 18%
2003 5.3% 21.4%
2002 3.8% 22.2%
2001 7.4% 21.4%
2000 11.5% 24.1%
1999 11.2% 23.9%
1998 13% 22.7%
1997 9.2% 21.4%

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

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

Over the past 28 years, Nicaragua has recorded an average annual inflation rate of 7.53%, compared with 14.4% in Zambia. In 2024, inflation was 4.6% in Nicaragua and 15% in Zambia.

Top exports between countries

Nicaragua
Export category Export value
Raw agricultural goods $11K
Zambia
Export category Export value
Machinery & equipment $42K

Balance of trade

Nicaragua Zambia
Current account balance
$818M
2024
-$487M
2024
Current account balance ranking
55/190
2024
106/190
2024
Current account balance, % of GDP
+4.15%
2024
-1.93%
2024
Goods imports
$10.1B
2024
$10.1B
2024
Goods exports
$6.84B
2024
$11.4B
2024
Service imports
$1.31B
2024
$1.94B
2024
Service exports
$1.3B
2024
$1.38B
2024
Imports of goods and services, % of GDP
58.1%
2024
27.6%
2024
Exports of goods and services, % of GDP
40.5%
2024
35%
2024

Economic freedom indices

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

Nicaragua Zambia
Economic freedom 53.6 51.9
Economic freedom ranking 139/197 152/197
Property rights 23.8 43.9
Government integrity 13.4 39.3
Judicial effectiveness 8.8 45
Tax burden 74.5 74.3
Government spending 77.7 78.1
Fiscal health 96.9 30.9
Business freedom 54.4 53.4
Labor freedom 47.3 48.8
Monetary freedom 69.4 66.6
Trade freedom 67 62.8
Investment freedom 60 40
Financial freedom 50 40

Economic freedom comparison by year

Nicaragua
Zambia
1x
Year Economic freedom index
Nicaragua Zambia
2026 53.6 51.9
2025 54 50.9
2024 53.4 48.4
2023 54.9 47.8
2022 54.8 48.7
2021 56.3 50.4
2020 57.2 53.5
2019 57.7 53.6
2018 58.9 54.3
2017 59.2 55.8
2016 58.6 58.8
2015 57.6 58.7
2014 58.4 60.4
2013 56.6 58.7
2012 57.9 58.3
2011 58.8 59.7
2010 58.3 58
2009 59.8 56.6
2008 60.8 56.2
2007 62.7 56.2
2006 63.8 56.8
2005 62.5 55
2004 61.4 54.9
2003 62.6 55.3
2002 61.1 59.6
2001 58 59.5
2000 56.9 62.8
1999 54 64.2
1998 53.8 62.7
1997 53.3 62.1
1996 54.1 59.6
1995 42.5 55.1

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

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

The Economic Freedom Index for Nicaragua is 53.6, ranking 139/197, compared to 51.9 for Zambia, ranking 152/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Nicaragua Zambia
Services, % of GDP
46.8%
2024
57.2%
2024
Industry, % of GDP
27.6%
2024
35.2%
2024
Agriculture, forestry, and fishing, % of GDP
14.4%
2024
2.83%
2024
GNI, Atlas method
$17.4B
2024
$25.9B
2024
GNI per capita, PPP
$8,270
2024
$3,850
2024
Total reserves including gold
$6.1B
2024
$4.09B
2024
Total reserves ranking
91/177
2024
106/177
2024
Net foreign direct investment
-$1.28B
2024
-$1.32B
2024
Net inflows of foreign direct investment
$1.35B
2024
$2.36B
2024
Net outflows of foreign direct investment
$73.8M
2024
$311M
2024
Servicing debt to the IMF, % of GNI
9.74%
2024
16.9%
2024
Poverty at national poverty lines
24.9%
2016
60%
2022
Gross capital formation, % of GDP
24.7%
2024
23.8%
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/zambia | 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 (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. 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.