Nicaragua is about 4.5 times smaller than Madagascar.

Madagascar is approximately 587,041 sq km, while Nicaragua is approximately 130,370 sq km, making Nicaragua 22.21% the size of Madagascar. Meanwhile, the population of Madagascar is ~28.2 million people (21.9 million fewer people live in Nicaragua).
This to-scale comparison of Madagascar vs. Nicaragua uses the Mercator projection, which distorts the size of regions near the poles. Learn more.

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