Algeria has a GDP of $287B compared to $1.9B for East Timor, ranking 51/197 and 181/197 by economy size, respectively.
Algeria has $155B in government debt (54.1% of GDP), compared to $273M (14.3% of GDP) in East Timor.
Algeria vs East Timor GDP by year
| Year | GDP, current $ | |
|---|---|---|
Algeria
|
East Timor
|
|
| 2025 | $287,031,225,988 | $1,902,180,258 |
| 2024 | $269,322,281,665 | $1,865,608,515 |
| 2023 | $247,923,887,215 | $2,079,767,200 |
| 2022 | $225,581,644,703 | $3,208,599,900 |
| 2021 | $186,231,205,262 | $3,625,024,300 |
| 2020 | $164,873,415,325 | $2,162,619,200 |
| 2019 | $193,459,662,091 | $2,032,550,400 |
| 2018 | $194,554,483,656 | $1,555,988,600 |
| 2017 | $189,880,896,903 | $1,584,878,400 |
| 2016 | $180,763,839,522 | $1,640,464,600 |
| 2015 | $187,493,855,609 | $1,590,282,400 |
| 2014 | $238,942,664,193 | $1,447,535,200 |
| 2013 | $229,701,430,292 | $1,395,727,400 |
| 2012 | $227,143,746,076 | $1,160,555,000 |
| 2011 | $218,331,946,925 | $1,042,534,600 |
| 2010 | $177,785,053,940 | $881,909,300 |
| 2009 | $150,317,292,079 | $726,937,800 |
| 2008 | $180,383,848,331 | $648,523,600 |
| 2007 | $142,482,739,810 | $542,795,400 |
| 2006 | $123,084,258,693 | $453,792,400 |
| 2005 | $107,046,618,670 | $462,268,000 |
| 2004 | $91,913,680,985 | $440,772,000 |
| 2003 | $73,482,264,191 | $490,439,100 |
| 2002 | $61,516,103,406 | $469,455,500 |
| 2001 | $59,413,400,924 | $477,359,300 |
| 2000 | $54,790,398,570 | $366,924,300 |
| 1999 | $48,640,671,735 | $225,357,600 |
| 1998 | $48,187,781,984 | $325,729,800 |
| 1997 | $48,177,612,042 | $319,972,700 |
| 1996 | $46,941,554,225 | $306,956,900 |
| 1995 | $41,764,291,672 | $262,819,900 |
| 1994 | $42,543,176,829 | $239,040,500 |
| 1993 | $49,945,584,453 | $216,914,400 |
| 1992 | $48,003,133,347 | $187,891,500 |
| 1991 | $45,715,676,428 | $147,713,000 |
| 1990 | $62,048,507,531 | $128,210,142 |
| 1989 | $55,634,721,573 | - |
| 1988 | $59,089,396,860 | - |
| 1987 | $66,745,818,375 | - |
| 1986 | $63,692,007,897 | - |
| 1985 | $57,937,868,670 | - |
| 1984 | $53,698,548,293 | - |
| 1983 | $48,801,369,800 | - |
| 1982 | $45,207,167,470 | - |
| 1981 | $44,348,590,461 | - |
| 1980 | $42,345,829,079 | - |
| 1979 | $33,243,706,860 | - |
| 1978 | $26,364,491,313 | - |
| 1977 | $20,972,113,685 | - |
| 1976 | $17,728,240,932 | - |
| 1975 | $15,557,902,754 | - |
| 1974 | $13,209,871,626 | - |
| 1973 | $8,707,858,912 | - |
| 1972 | $6,766,743,957 | - |
| 1971 | $5,077,183,094 | - |
| 1970 | $4,863,526,897 | - |
| 1969 | $4,257,253,264 | - |
| 1968 | $3,852,147,027 | - |
| 1967 | $3,370,870,376 | - |
| 1966 | $3,039,859,187 | - |
| 1965 | $3,136,284,307 | - |
| 1964 | $2,909,316,435 | - |
| 1963 | $2,702,982,018 | - |
| 1962 | $2,001,444,544 | - |
| 1961 | $2,434,747,056 | - |
| 1960 | $2,723,615,451 | - |
Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).
GeoRank.org/economy/algeria/east-timor | CC BY 
GDP per capita in Algeria vs East Timor by year
| Year | Current $ | |||
|---|---|---|---|---|
|
Algeria
|
East Timor
|
|||
| GDP per capita | GDP per capita, PPP | GDP per capita | GDP per capita, PPP | |
| 2025 | $6,051 | - | $1,341 | - |
| 2024 | $5,753 | $17,621 | $1,332 | $4,423 |
| 2023 | $5,370 | $16,824 | $1,502 | $4,807 |
| 2022 | $4,960 | $15,836 | $2,343 | $5,730 |
| 2021 | $4,161 | $14,497 | $2,685 | $6,825 |
| 2020 | $3,744 | $12,677 | $1,631 | $6,132 |
| 2019 | $4,468 | $13,893 | $1,562 | $4,557 |
| 2018 | $4,577 | $13,727 | $1,219 | $3,561 |
| 2017 | $4,555 | $13,494 | $1,266 | $3,463 |
| 2016 | $4,425 | $13,438 | $1,336 | $3,391 |
| 2015 | $4,685 | $13,807 | $1,320 | $3,108 |
| 2014 | $6,095 | $14,694 | $1,225 | $2,860 |
| 2013 | $5,980 | $14,371 | $1,205 | $2,566 |
| 2012 | $6,034 | $14,441 | $1,023 | $2,386 |
| 2011 | $5,916 | $14,640 | $939 | $2,066 |
| 2010 | $4,913 | $14,201 | $813 | $1,955 |
| 2009 | $4,235 | $13,651 | $687 | $1,810 |
| 2008 | $5,181 | $13,666 | $628 | $1,675 |
| 2007 | $4,167 | $13,321 | $540 | $1,516 |
| 2006 | $3,661 | $12,791 | $465 | $1,377 |
| 2005 | $3,233 | $12,246 | $487 | $1,435 |
| 2004 | $2,817 | $11,432 | $474 | $1,379 |
| 2003 | $2,284 | $10,803 | $535 | $1,355 |
| 2002 | $1,937 | $10,080 | $534 | $1,417 |
| 2001 | $1,896 | $9,544 | $588 | $1,619 |
| 2000 | $1,773 | $9,187 | $492 | $1,483 |
| 1999 | $1,596 | $8,776 | $270 | $819 |
| 1998 | $1,603 | $8,503 | $346 | $1,108 |
| 1997 | $1,629 | $8,129 | $349 | $1,149 |
| 1996 | $1,617 | $8,053 | $344 | $1,116 |
| 1995 | $1,467 | $7,747 | $303 | $1,043 |
| 1994 | $1,526 | $7,463 | $283.1 | $985 |
| 1993 | $1,831 | $7,538 | $264.1 | $925 |
| 1992 | $1,803 | $7,705 | $235.1 | $843 |
| 1991 | $1,759 | $7,582 | $189.8 | $766 |
| 1990 | $2,445 | $7,602 | $168.6 | $685 |
| 1989 | $2,247 | - | - | - |
| 1988 | $2,451 | - | - | - |
| 1987 | $2,847 | - | - | - |
| 1986 | $2,800 | - | - | - |
| 1985 | $2,633 | - | - | - |
| 1984 | $2,524 | - | - | - |
| 1983 | $2,374 | - | - | - |
| 1982 | $2,275 | - | - | - |
| 1981 | $2,307 | - | - | - |
| 1980 | $2,276 | - | - | - |
| 1979 | $1,843 | - | - | - |
| 1978 | $1,506 | - | - | - |
| 1977 | $1,232 | - | - | - |
| 1976 | $1,080 | - | - | - |
| 1975 | $992 | - | - | - |
| 1974 | $873 | - | - | - |
| 1973 | $590 | - | - | - |
| 1972 | $469 | - | - | - |
| 1971 | $360 | - | - | - |
| 1970 | $353 | - | - | - |
| 1969 | $316 | - | - | - |
| 1968 | $292.4 | - | - | - |
| 1967 | $261.8 | - | - | - |
| 1966 | $241.4 | - | - | - |
| 1965 | $253.6 | - | - | - |
| 1964 | $238.9 | - | - | - |
| 1963 | $225.6 | - | - | - |
| 1962 | $169.6 | - | - | - |
| 1961 | $209.4 | - | - | - |
| 1960 | $238.4 | - | - | - |
Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).
GeoRank.org/economy/algeria/east-timor | CC BY
Algeria's GDP per capita is $6,051, ranking 114/197, compared to $1,341 in East Timor, ranking 168/197. Adjusted for purchasing power (GDP per capita PPP), Algeria ranks 105th at $17,621, while East Timor ranks 163rd at $4,423.
Economic indicators
|
Algeria
|
East Timor
|
|
|---|---|---|
| Gross domestic product |
$287B
2025 |
$1.9B
2025 |
| GDP rank |
51/197
2025 |
181/197
2025 |
| GDP growth |
3.82%
2024-2025 |
6.98%
2024-2025 |
| GDP per capita |
$6,051
2025 |
$1,341
2025 |
| GDP per capita rank |
114/197
2025 |
168/197
2025 |
| GDP per capita, PPP |
$17,621
2024 |
$4,423
2024 |
| GDP per capita PPP rank |
105/197
2024 |
163/197
2024 |
| Government debt |
$155B
2025 |
$273M
2025 |
| Debt-to-GDP ratio |
54.1%
2025 |
14.3%
2025 |
| Government debt per person |
$3,274
2025 |
$192.3
2025 |
| Government debt per person rank |
100/185
2025 |
182/185
2025 |
| Average annual personal income after taxes |
$3,755
2026 |
$1,644
2026 |
| Market capitalization of domestic companies |
$371M
2018 |
n/a |
| Number of billionaires |
1
2026 |
n/a |
| Income share by richest 10% |
22.9%
2011 |
24%
2014 |
| Income share by poorest 10% |
4%
2011 |
4%
2014 |
| Government expenditure, % of GDP |
36.2%
2025 |
93.9%
2025 |
| Consumer prices inflation |
1.42%
2024-2025 |
0.5%
2024-2025 |
| Central bank interest rate |
3%
2020 |
n/a |
| Unemployment rate |
11.7%
2017 |
1.54%
2022 |
| Population |
48345858
|
1446322
|
Spending and national debt comparison by year
| Year | % of GDP | |||
|---|---|---|---|---|
|
Algeria
|
East Timor
|
|||
| Government spending | Government debt | Government spending | Government debt | |
| 2025 | 36.2% | 54.1% | 93.9% | 14.3% |
| 2024 | 36.8% | 48.1% | 98% | 14.4% |
| 2023 | 37.4% | 47.7% | 78.6% | 12.4% |
| 2022 | 32.7% | 48.1% | 59.9% | 7.9% |
| 2021 | 32.5% | 55.1% | 45.7% | 6.53% |
| 2020 | 37.5% | 46% | 61.7% | 10.1% |
| 2019 | 37.1% | 40.9% | 68.8% | 9.51% |
| 2018 | 36.2% | 34.5% | 85.5% | 9.31% |
| 2017 | 36.2% | 24% | 87.3% | 6.71% |
| 2016 | 37.2% | 18.1% | 112.2% | 4.71% |
| 2015 | 40.9% | 7.73% | 98.1% | 2.95% |
| 2014 | 36.9% | 6.85% | 111% | 1.52% |
| 2013 | 33.5% | 6.48% | 96.1% | 0.46% |
| 2012 | 40% | 8.58% | 129.3% | 0.002% |
| 2011 | 37.7% | 8.48% | 133.3% | 0% |
| 2010 | 35.1% | 9.51% | 121.3% | 0% |
| 2009 | 40.1% | 8.92% | 121.8% | 0% |
| 2008 | 37.3% | 7.64% | 122.4% | 0% |
| 2007 | 33.1% | 12.8% | 75.8% | 0% |
| 2006 | 27.8% | 22.5% | 59.8% | 0% |
| 2005 | 27.8% | 25.4% | 58.3% | 0% |
| 2004 | 27.1% | 32.7% | 74.2% | 0% |
| 2003 | 27% | 38.2% | 80.1% | 0% |
| 2002 | 32.5% | 47.3% | 93.5% | 0% |
| 2001 | 29.1% | 50% | 95.7% | 0% |
| 2000 | 26.4% | 53.4% | - | - |
| 1999 | 29.4% | 69.7% | - | - |
| 1998 | 28.7% | 79.9% | - | - |
| 1997 | 28.5% | 79.6% | - | - |
| 1996 | 26.9% | 90.7% | - | - |
| 1995 | 28.9% | 95.9% | - | - |
| 1994 | 30.9% | 106.3% | - | - |
| 1993 | 32.6% | 76.8% | - | - |
| 1992 | 28.2% | 69.3% | - | - |
| 1991 | 27.6% | 86.1% | - | - |
| 1990 | 23.3% | 63.6% | - | - |
Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1990, retrieved 2026-07-08).
GeoRank.org/economy/algeria/east-timor | CC BY
In 2025, Algeria's government spending was $104B, accounting for 36.2% of its GDP, while East Timor spent $1.79B, or 93.9% of GDP.
Debt-to-GDP ratio is 54.1% in Algeria and 14.3% in East Timor, ranking 94/185 and 178/185, respectively.
Government deficit by year
| Year | Deficit/surplus, % of GDP | |
|---|---|---|
|
Algeria
|
East Timor
|
|
| 2025 | -10.2% | -48% |
| 2024 | -13.8% | -47% |
| 2023 | -5.52% | -34.7% |
| 2022 | -2.96% | -29.5% |
| 2021 | -6.32% | -20.1% |
| 2020 | -10.5% | -18.9% |
| 2019 | -8.51% | -25.4% |
| 2018 | -6.15% | -26.9% |
| 2017 | -7.55% | -33.8% |
| 2016 | -11.8% | -55.7% |
| 2015 | -13.9% | -33.2% |
| 2014 | -7.14% | -37.5% |
| 2013 | -0.79% | -14.4% |
| 2012 | -4.04% | -38.7% |
| 2011 | -1.06% | -25.4% |
| 2010 | -1.35% | -19.8% |
| 2009 | -6.53% | -17.2% |
| 2008 | 7.79% | -18.6% |
| 2007 | 4.63% | -29.9% |
| 2006 | 12.9% | 41% |
| 2005 | 11.4% | -10.5% |
| 2004 | 6.36% | -7.48% |
| 2003 | 7.22% | -8.24% |
| 2002 | 0.21% | -7.64% |
| 2001 | 3.15% | 3.24% |
| 2000 | 8.91% | - |
| 1999 | -1.83% | - |
| 1998 | -3.52% | - |
| 1997 | 2.19% | - |
| 1996 | 2.7% | - |
| 1995 | -1.3% | - |
| 1994 | -4.05% | - |
| 1993 | -7.79% | - |
| 1992 | -1.05% | - |
| 1991 | 1.53% | - |
| 1990 | 3.35% | - |
Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).
GeoRank.org/economy/algeria/east-timor | CC BY
In 2025, Algeria's government deficit, the difference between spending and revenue, was $29.1B, equivalent to 10.2% of GDP. This compares to East Timor's deficit of $914M, or 48% of GDP.
Over the past 25 years, Algeria recorded a fiscal deficit in 17 of those years, while East Timor ran a deficit in 23 years. On average, Algeria posted an annual deficit equal to 2.58% of GDP, compared to deficit of 22.6% of GDP for East Timor.
Inflation comparison by year
| Year | Consumer prices inflation | |
|---|---|---|
|
Algeria
|
East Timor
|
|
| 2025 | 1.42% | 0.5% |
| 2024 | 4.05% | 2.1% |
| 2023 | 9.32% | 8.4% |
| 2022 | 9.27% | 7% |
| 2021 | 7.23% | 3.8% |
| 2020 | 2.42% | 0.5% |
| 2019 | 1.95% | 0.9% |
| 2018 | 4.27% | 2.3% |
| 2017 | 5.59% | 0.5% |
| 2016 | 6.4% | -1.5% |
| 2015 | 4.78% | 0.6% |
| 2014 | 2.92% | 0.8% |
| 2013 | 3.25% | 9.5% |
| 2012 | 8.89% | 10.9% |
| 2011 | 4.52% | 13.2% |
| 2010 | 3.91% | 5.2% |
| 2009 | 5.74% | -0.2% |
| 2008 | 4.86% | 7.4% |
| 2007 | 3.68% | 8.6% |
| 2006 | 2.31% | 5.2% |
| 2005 | 1.38% | 1.6% |
| 2004 | 3.96% | 2.2% |
| 2003 | 4.27% | 8% |
| 2002 | 1.42% | 4.1% |
| 2001 | 4.23% | 3.6% |
| 2000 | 0.34% | - |
| 1999 | 2.65% | - |
| 1998 | 4.95% | - |
| 1997 | 5.73% | - |
Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | World Economic Outlook (2001–2025, retrieved 2026-07-08).
GeoRank.org/economy/algeria/east-timor | CC BY
Over the past 25 years, Algeria has recorded an average annual inflation rate of 4.48%, compared with 4.21% in East Timor. In 2025, inflation was 1.42% in Algeria and 0.5% in East Timor.
Balance of trade
|
Algeria
|
East Timor
|
|
|---|---|---|
|
Current account balance
|
-$2.75B
2024 |
-$701M
2025 |
| Current account balance ranking |
151/190
2024 |
109/190
2025 |
| Current account balance, % of GDP |
-1.02%
2024 |
-36.9%
2025 |
| Goods imports |
$45.3B
2024 |
$842M
2025 |
| Goods exports |
$48.8B
2024 |
$126M
2025 |
| Service imports |
$9.13B
2024 |
$475M
2025 |
| Service exports |
$4.22B
2024 |
$147M
2025 |
| Imports of goods and services, % of GDP |
22.1%
2025 |
84.9%
2024 |
| Exports of goods and services, % of GDP |
16.8%
2025 |
10.6%
2024 |
Economic freedom indices
The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.
|
Algeria
|
East Timor
|
|
|---|---|---|
| Economic freedom | 45.8 | 47.9 |
| Economic freedom ranking | 179/197 | 173/197 |
| Property rights | 27.7 | 43.5 |
| Government integrity | 29.4 | 43.9 |
| Judicial effectiveness | 30 | 34.5 |
| Tax burden | 80.3 | 97.1 |
| Government spending | 61.9 | 0 |
| Fiscal health | 15.4 | 19.6 |
| Business freedom | 59.3 | 62.7 |
| Labor freedom | 52.2 | 56.5 |
| Monetary freedom | 74.7 | 72.2 |
| Trade freedom | 58.8 | 79.8 |
| Investment freedom | 30 | 45 |
| Financial freedom | 30 | 20 |
Economic freedom comparison by year
| Year | Economic freedom index | |
|---|---|---|
|
Algeria
|
East Timor
|
|
| 2026 | 45.8 | 47.9 |
| 2025 | 47.5 | 47.9 |
| 2024 | 43.9 | 50.2 |
| 2023 | 43.2 | 47.2 |
| 2022 | 45.8 | 46.3 |
| 2021 | 49.7 | 44.7 |
| 2020 | 46.9 | 45.9 |
| 2019 | 46.2 | 44.2 |
| 2018 | 44.7 | 48.1 |
| 2017 | 46.5 | 46.3 |
| 2016 | 50.1 | 45.8 |
| 2015 | 48.9 | 45.5 |
| 2014 | 50.8 | 43.2 |
| 2013 | 49.6 | 43.7 |
| 2012 | 51 | 43.3 |
| 2011 | 52.4 | 42.8 |
| 2010 | 56.9 | 45.8 |
| 2009 | 56.6 | 50.5 |
| 2008 | 56.2 | - |
| 2007 | 55.4 | - |
| 2006 | 55.7 | - |
| 2005 | 53.2 | - |
| 2004 | 58.1 | - |
| 2003 | 57.7 | - |
| 2002 | 61 | - |
| 2001 | 57.3 | - |
| 2000 | 56.8 | - |
| 1999 | 57.2 | - |
| 1998 | 55.8 | - |
| 1997 | 54.9 | - |
| 1996 | 54.5 | - |
| 1995 | 55.7 | - |
Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).
GeoRank.org/economy/algeria/east-timor | CC BY
The Economic Freedom Index for Algeria is 45.8, ranking 179/197, compared to 47.9 for East Timor, ranking 173/197. The chart above displays a comparison of annual changes in economic freedom indexes.
Other economic metrics
|
Algeria
|
East Timor
|
|
|---|---|---|
| Services, % of GDP |
45.7%
2025 |
71.6%
2024 |
| Industry, % of GDP |
34.8%
2025 |
11.8%
2024 |
| Agriculture, forestry, and fishing, % of GDP |
14.5%
2025 |
20.2%
2024 |
|
GNI, Atlas method
|
$278B
2025 |
$2.14B
2025 |
| GNI per capita, PPP |
$18,240
2025 |
$5,120
2025 |
| Total reserves including gold |
$72.5B
2025 |
$851M
2025 |
| Total reserves ranking |
38/177
2025 |
145/177
2025 |
|
Net foreign direct investment
|
-$1.23B
2024 |
-$253M
2025 |
|
Net inflows of foreign direct investment
|
$1.23B
2024 |
$225M
2024 |
|
Net outflows of foreign direct investment
|
$265K
2024 |
$4.5M
2024 |
|
Servicing debt to the IMF, % of GNI
|
0.17%
2024 |
1.23%
2024 |
| Poverty at national poverty lines |
5.5%
2011 |
41.8%
2014 |
|
Gross capital formation, % of GDP
|
45.3%
2025 |
30.1%
2024 |
GDP per capita map
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/algeria/east-timor | CC BY
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Data sources:
- World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
- International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
- The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
- U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
- United Nations | World Population Prospects (2026, retrieved 2026-07-08)
- LivingCost (2026, retrieved 2026-07-08)
- International Monetary Fund (IMF) | Public Finances in Modern History (1990, 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.