Antigua and Barbuda has a GDP of $2.21B compared to $3.2B for Belize, ranking 177/197 and 168/197 by economy size, respectively.
Antigua and Barbuda has $1.48B in government debt (63.4% of GDP), compared to $1.95B (58.8% of GDP) in Belize.
The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.
| Year | GDP | |||
|---|---|---|---|---|
Antigua
|
Belize
|
|||
| Current $ | Constant $ | Current $ | Constant $ | |
| 1960 | - | - | $28,072,478 | $142,139,035 |
| 1961 | - | - | $29,965,000 | $149,092,871 |
| 1962 | - | - | $31,857,592 | $156,387,466 |
| 1963 | - | - | $33,750,114 | $164,138,708 |
| 1964 | - | - | $36,194,586 | $172,345,446 |
| 1965 | - | - | $40,110,040 | $180,843,009 |
| 1966 | - | - | $44,450,044 | $189,470,749 |
| 1967 | - | - | $47,431,256 | $198,779,681 |
| 1968 | - | - | $44,999,910 | $213,424,228 |
| 1969 | - | - | $47,399,905 | $224,322,469 |
| 1970 | - | - | $53,339,893 | $235,107,205 |
| 1971 | - | - | $59,074,687 | $244,416,136 |
| 1972 | - | - | $65,998,069 | $269,391,320 |
| 1973 | - | - | $78,214,768 | $283,808,858 |
| 1974 | - | - | $103,160,450 | $322,293,297 |
| 1975 | - | - | $118,194,026 | $333,872,729 |
| 1976 | - | - | $97,094,227 | $333,759,143 |
| 1977 | $77,507,407 | $387,163,203 | $117,650,000 | $355,442,120 |
| 1978 | $88,040,741 | $404,134,550 | $136,300,000 | $383,596,005 |
| 1979 | $109,596,296 | $436,786,384 | $151,800,000 | $412,430,999 |
| 1980 | $132,451,852 | $472,436,818 | $257,400,000 | $462,371,238 |
| 1981 | $149,388,889 | $490,457,676 | $260,750,000 | $467,611,279 |
| 1982 | $166,444,444 | $490,048,111 | $248,550,000 | $467,112,227 |
| 1983 | $184,866,667 | $516,333,404 | $262,150,000 | $457,081,291 |
| 1984 | $212,214,815 | $568,819,883 | $290,350,000 | $466,114,124 |
| 1985 | $246,370,370 | $612,299,589 | $287,300,000 | $470,805,208 |
| 1986 | $297,562,963 | $682,675,280 | $311,500,000 | $492,214,519 |
| 1987 | $346,866,667 | $727,910,265 | $371,100,000 | $545,014,170 |
| 1988 | $411,396,296 | $765,857,188 | $421,450,000 | $598,362,778 |
| 1989 | $455,174,074 | $806,082,317 | $491,100,000 | $676,214,816 |
| 1990 | $478,718,519 | $830,360,010 | $546,750,912 | $752,917,474 |
| 1991 | $504,337,037 | $848,435,720 | $596,682,100 | $841,601,389 |
| 1992 | $525,133,333 | $858,265,279 | $695,741,150 | $948,789,622 |
| 1993 | $565,662,963 | $903,580,714 | $752,255,150 | $1,007,025,242 |
| 1994 | $625,081,481 | $963,907,436 | $771,838,000 | $1,006,823,975 |
| 1995 | $616,051,852 | $921,883,147 | $818,590,250 | $1,014,189,476 |
| 1996 | $679,140,741 | $982,773,021 | $850,339,100 | $1,025,399,371 |
| 1997 | $734,422,222 | $1,036,543,047 | $872,916,050 | $1,068,821,096 |
| 1998 | $789,788,889 | $1,085,584,792 | $929,047,000 | $1,110,430,515 |
| 1999 | $835,544,444 | $1,125,835,518 | $999,713,050 | $1,215,068,544 |
| 2000 | $901,003,704 | $1,195,677,312 | $1,138,138,100 | $1,363,800,371 |
| 2001 | $877,774,074 | $1,141,296,595 | $1,172,045,150 | $1,431,902,589 |
| 2002 | $898,092,593 | $1,153,020,391 | $1,243,912,050 | $1,509,212,058 |
| 2003 | $948,100,000 | $1,223,085,251 | $1,308,280,250 | $1,655,080,826 |
| 2004 | $1,026,329,630 | $1,293,621,842 | $1,400,202,000 | $1,734,204,697 |
| 2005 | $1,143,896,296 | $1,377,366,903 | $1,474,298,400 | $1,772,690,003 |
| 2006 | $1,303,674,074 | $1,552,404,720 | $1,590,463,100 | $1,852,664,108 |
| 2007 | $1,487,381,481 | $1,697,014,056 | $1,706,190,450 | $1,914,531,925 |
| 2008 | $1,557,640,741 | $1,696,776,362 | $1,738,453,600 | $1,883,373,344 |
| 2009 | $1,386,518,519 | $1,493,793,051 | $1,688,012,750 | $1,874,960,133 |
| 2010 | $1,298,348,148 | $1,376,672,105 | $1,748,988,400 | $1,901,536,024 |
| 2011 | $1,287,359,259 | $1,349,706,642 | $1,831,576,700 | $1,899,062,675 |
| 2012 | $1,364,729,630 | $1,395,234,173 | $1,917,083,500 | $1,973,959,679 |
| 2013 | $1,325,496,296 | $1,386,849,062 | $2,035,191,450 | $2,054,230,071 |
| 2014 | $1,378,707,407 | $1,417,336,053 | $2,138,242,200 | $2,134,186,060 |
| 2015 | $1,437,485,185 | $1,437,485,185 | $2,193,095,150 | $2,193,095,150 |
| 2016 | $1,489,603,704 | $1,496,714,858 | $2,239,604,950 | $2,192,684,131 |
| 2017 | $1,534,855,556 | $1,537,316,640 | $2,266,028,250 | $2,152,487,028 |
| 2018 | $1,661,529,630 | $1,640,501,408 | $2,285,915,050 | $2,170,181,948 |
| 2019 | $1,726,448,148 | $1,692,541,753 | $2,381,187,850 | $2,262,557,633 |
| 2020 | $1,411,637,037 | $1,373,179,832 | $2,047,284,600 | $1,956,594,233 |
| 2021 | $1,602,125,926 | $1,485,407,940 | $2,428,606,250 | $2,308,584,057 |
| 2022 | $1,866,566,667 | $1,620,696,017 | $2,846,604,350 | $2,522,139,932 |
| 2023 | $2,005,785,185 | $1,660,036,193 | $3,052,362,650 | $2,534,753,859 |
| 2024 | $2,207,622,874 | $1,720,733,551 | $3,203,631,800 | $2,623,588,473 |
Economic indicators
|
Antigua
|
Belize
|
|
|---|---|---|
| Gross domestic product |
$2.21B
2024 |
$3.2B
2024 |
| GDP rank |
177/197
2024 |
168/197
2024 |
| GDP growth |
10.1%
2023-2024 |
4.96%
2023-2024 |
| GDP per capita |
$23,542
2024 |
$7,681
2024 |
| GDP per capita rank |
53/197
2024 |
98/197
2024 |
| GDP per capita, PPP |
$33,386
2024 |
$14,347
2024 |
| Government debt |
$1.48B
2024 |
$1.95B
2024 |
| Debt-to-GDP ratio |
63.4%
2026 |
58.8%
2026 |
| Government debt per person |
$15,787
2024 |
$4,682
2024 |
| Government debt per person rank |
39/185
2024 |
83/185
2024 |
| Average annual personal income after taxes |
$15,556
2026 |
$8,036
2026 |
| Number of billionaires | n/a |
1
2025 |
| Income share by richest 10% | n/a |
30%
2018 |
| Income share by poorest 10% | n/a |
2.2%
2018 |
| Government expenditure, % of GDP |
21.1%
2026 |
24.1%
2026 |
| Consumer prices inflation |
2.4%
2025-2026 |
1.9%
2025-2026 |
| Unemployment rate |
5.37%
2023 |
29.3%
2020 |
| Population |
94625
|
428711
|
GDP per capita in Antigua and Barbuda vs Belize
Antigua and Barbuda's GDP per capita is $23,542, ranking 53/197, compared to $7,681 in Belize, ranking 98/197. Adjusted for purchasing power (GDP per capita PPP), Antigua and Barbuda ranks 66th at $33,386, while Belize ranks 117th at $14,347.
| Year | Current $ | |||
|---|---|---|---|---|
|
Antigua
|
Belize
|
|||
| GDP per capita | GDP per capita, PPP | GDP per capita | GDP per capita, PPP | |
| 1960 | - | - | $307 | - |
| 1961 | - | - | $320 | - |
| 1962 | - | - | $332 | - |
| 1963 | - | - | $342 | - |
| 1964 | - | - | $356 | - |
| 1965 | - | - | $383 | - |
| 1966 | - | - | $412 | - |
| 1967 | - | - | $426 | - |
| 1968 | - | - | $392 | - |
| 1969 | - | - | $402 | - |
| 1970 | - | - | $442 | - |
| 1971 | - | - | $481 | - |
| 1972 | - | - | $529 | - |
| 1973 | - | - | $619 | - |
| 1974 | - | - | $805 | - |
| 1975 | - | - | $906 | - |
| 1976 | - | - | $729 | - |
| 1977 | $1,214 | - | $866 | - |
| 1978 | $1,375 | - | $983 | - |
| 1979 | $1,705 | - | $1,071 | - |
| 1980 | $2,053 | - | $1,774 | - |
| 1981 | $2,310 | - | $1,753 | - |
| 1982 | $2,569 | - | $1,629 | - |
| 1983 | $2,847 | - | $1,677 | - |
| 1984 | $3,271 | - | $1,814 | - |
| 1985 | $3,814 | - | $1,754 | - |
| 1986 | $4,629 | - | $1,859 | - |
| 1987 | $5,424 | - | $2,166 | - |
| 1988 | $6,466 | - | $2,406 | - |
| 1989 | $7,188 | - | $2,742 | - |
| 1990 | $7,591 | $12,996 | $2,986 | $4,467 |
| 1991 | $7,956 | $13,658 | $3,190 | $5,053 |
| 1992 | $8,154 | $13,908 | $3,643 | $5,706 |
| 1993 | $8,625 | $14,720 | $3,860 | $6,075 |
| 1994 | $9,351 | $15,736 | $3,877 | $6,073 |
| 1995 | $9,034 | $15,062 | $4,010 | $6,091 |
| 1996 | $9,756 | $16,017 | $4,043 | $6,087 |
| 1997 | $10,336 | $16,836 | $4,014 | $6,243 |
| 1998 | $10,907 | $17,496 | $4,126 | $6,333 |
| 1999 | $11,342 | $18,088 | $4,290 | $6,790 |
| 2000 | $12,027 | $19,319 | $4,727 | $7,544 |
| 2001 | $11,539 | $18,569 | $4,719 | $7,852 |
| 2002 | $11,659 | $18,813 | $4,859 | $8,154 |
| 2003 | $12,173 | $20,127 | $4,960 | $8,850 |
| 2004 | $13,038 | $21,629 | $5,154 | $9,245 |
| 2005 | $14,369 | $23,485 | $5,270 | $9,466 |
| 2006 | $16,174 | $26,949 | $5,525 | $9,910 |
| 2007 | $18,205 | $29,851 | $5,762 | $10,226 |
| 2008 | $18,787 | $29,978 | $5,712 | $9,975 |
| 2009 | $16,472 | $26,157 | $5,400 | $9,728 |
| 2010 | $15,217 | $24,071 | $5,461 | $9,748 |
| 2011 | $14,912 | $23,804 | $5,596 | $9,722 |
| 2012 | $15,640 | $23,012 | $5,733 | $9,303 |
| 2013 | $15,052 | $21,761 | $5,957 | $9,526 |
| 2014 | $15,532 | $21,671 | $6,128 | $9,490 |
| 2015 | $16,078 | $20,985 | $6,155 | $9,538 |
| 2016 | $16,557 | $21,320 | $6,141 | $9,399 |
| 2017 | $16,966 | $21,422 | $6,072 | $9,121 |
| 2018 | $18,273 | $24,524 | $6,012 | $9,497 |
| 2019 | $18,896 | $26,551 | $6,172 | $10,500 |
| 2020 | $15,370 | $22,370 | $5,239 | $9,639 |
| 2021 | $17,349 | $25,745 | $6,143 | $11,716 |
| 2022 | $20,105 | $29,934 | $7,068 | $13,461 |
| 2023 | $21,495 | $31,602 | $7,425 | $13,730 |
| 2024 | $23,542 | $33,386 | $7,681 | $14,347 |
Spending and national debt comparison
In 2024, Antigua and Barbuda's government spending was $418M, accounting for 21.1% of its GDP, while Belize's spent $792M, or 24.1% of GDP.
Debt-to-GDP ratio is 63.4% in Antigua and Barbuda and 58.8% in Belize, ranking 72/185 and 83/185, respectively.
| Year | % of GDP | |||
|---|---|---|---|---|
|
Antigua
|
Belize
|
|||
| Government spending | Government debt | Government spending | Government debt | |
| 1990 | 18.1% | 94.1% | - | - |
| 1991 | 20.8% | 94.6% | - | - |
| 1992 | 18.7% | 90.8% | - | - |
| 1993 | 19.4% | 85.3% | - | - |
| 1994 | 21.2% | 84.5% | - | - |
| 1995 | 21% | 92.1% | - | - |
| 1996 | 19.6% | 85.5% | 19.9% | 39.4% |
| 1997 | 16.8% | 80.6% | 19.9% | 40.7% |
| 1998 | 20.7% | 94.6% | 20.9% | 40.3% |
| 1999 | 20.3% | 95.9% | 23.6% | 43.7% |
| 2000 | 21.1% | 96.4% | 23.1% | 79% |
| 2001 | 24.2% | 107.6% | 25.8% | 49.5% |
| 2002 | 26.3% | 114.5% | 24.4% | 53.2% |
| 2003 | 24.2% | 113% | 24.5% | 67.2% |
| 2004 | 21.9% | 107.7% | 21.7% | 70.6% |
| 2005 | 21.5% | 82.8% | 21.4% | 72.7% |
| 2006 | 26% | 79.1% | 21.2% | 71.3% |
| 2007 | 23.8% | 68.7% | 22% | 66.4% |
| 2008 | 23.2% | 66.8% | 21.8% | 64.6% |
| 2009 | 32.1% | 89.2% | 23.2% | 69.7% |
| 2010 | 20% | 79.4% | 23.3% | 68.5% |
| 2011 | 21.1% | 81.1% | 23.5% | 66.4% |
| 2012 | 18.5% | 76.9% | 22.1% | 63.4% |
| 2013 | 20.7% | 85.4% | 23.8% | 62.9% |
| 2014 | 20.9% | 91.9% | 24.8% | 61.5% |
| 2015 | 24.8% | 92.1% | 27.9% | 65.1% |
| 2016 | 23.8% | 83.1% | 27.7% | 70.4% |
| 2017 | 22.6% | 88.2% | 27.7% | 78.1% |
| 2018 | 21.5% | 84.3% | 26.8% | 78.8% |
| 2019 | 22.1% | 81.6% | 27.4% | 78.4% |
| 2020 | 26% | 100.5% | 33.2% | 103.3% |
| 2021 | 23.4% | 93% | 25.8% | 82.5% |
| 2022 | 20.7% | 82% | 22.8% | 66.8% |
| 2023 | 18.8% | 76.3% | 24.8% | 67.2% |
| 2024 | 18.9% | 67.1% | 24.7% | 61% |
| 2025 | 21.2% | 63.4% | 24.1% | 59.5% |
| 2026 | 21.1% | 63.4% | 24.1% | 58.8% |
Government deficit by year
In 2024, Antigua and Barbuda's government surplus, the difference between spending and revenue, was $54.5M, equivalent to 2.47% of GDP. This compares to Belize's deficit of -$75.7M, or -2.36% of GDP.
Over the past 29 years, Antigua and Barbuda recorded a fiscal deficit in 27 of those years, while Belize ran a deficit in 28 years. On average, Antigua and Barbuda posted an annual deficit equal to -3.82% of GDP, compared to deficit of -3.19% of GDP for Belize.
| Year | Deficit/surplus, % of GDP | |
|---|---|---|
|
Antigua
|
Belize
|
|
| 1990 | 0.12% | - |
| 1991 | -3.91% | - |
| 1992 | -0.81% | - |
| 1993 | -2.45% | - |
| 1994 | -4.33% | - |
| 1995 | -3.89% | - |
| 1996 | -1.61% | -1.76% |
| 1997 | 0% | -1.81% |
| 1998 | -1.62% | -2.69% |
| 1999 | -3.08% | -6.51% |
| 2000 | -4.5% | -6.68% |
| 2001 | -8.58% | -7.23% |
| 2002 | -8.83% | -5.4% |
| 2003 | -7.32% | -8.41% |
| 2004 | -3.9% | -4.52% |
| 2005 | -4.29% | -3.7% |
| 2006 | -6.62% | -2.27% |
| 2007 | -4.98% | -0.19% |
| 2008 | -4.72% | 1.25% |
| 2009 | -15.8% | -2.46% |
| 2010 | -0.24% | -1.91% |
| 2011 | -3.09% | -1.06% |
| 2012 | -0.97% | -0.22% |
| 2013 | -3.83% | -1.21% |
| 2014 | -2.6% | -1.72% |
| 2015 | -2.42% | -5.14% |
| 2016 | -0.14% | -4.47% |
| 2017 | -2.72% | -3.48% |
| 2018 | -2.43% | -1.36% |
| 2019 | -3.64% | -2.89% |
| 2020 | -6.23% | -8.59% |
| 2021 | -4.52% | -3.3% |
| 2022 | -2.84% | -0.48% |
| 2023 | -1.7% | -1.99% |
| 2024 | 2.47% | -2.36% |
| 2025 | -1.3% | -1.65% |
| 2026 | -1% | -1.54% |
Inflation comparison by year
Over the past 30 years, Antigua and Barbuda has recorded an average annual inflation rate of 2.28%, compared with 1.72% in Belize. In 2026, inflation was 2.4% in Antigua and Barbuda and 1.9% in Belize.
| Year | Inflation | |
|---|---|---|
|
Antigua
|
Belize
|
|
| 1997 | 0.4% | 1% |
| 1998 | 3.3% | -0.8% |
| 1999 | 1.1% | -1.2% |
| 2000 | -0.2% | 0.6% |
| 2001 | 1.9% | 1.1% |
| 2002 | 2.4% | 2.2% |
| 2003 | 2% | 2.6% |
| 2004 | 2% | 3.1% |
| 2005 | 2.1% | 3.7% |
| 2006 | 1.8% | 4.2% |
| 2007 | 1.4% | 2.3% |
| 2008 | 5.3% | 6.4% |
| 2009 | -0.6% | -1.1% |
| 2010 | 3.4% | 0.9% |
| 2011 | 3.5% | 1.7% |
| 2012 | 3.4% | 1.2% |
| 2013 | 1.1% | 0.5% |
| 2014 | 1.1% | 1.2% |
| 2015 | 1% | -0.9% |
| 2016 | -0.5% | 0.7% |
| 2017 | 2.4% | 1.1% |
| 2018 | 1.2% | 0.3% |
| 2019 | 1.4% | 0.2% |
| 2020 | 1.1% | 0.1% |
| 2021 | 1.6% | 3.2% |
| 2022 | 7.5% | 6.3% |
| 2023 | 5.1% | 4.4% |
| 2024 | 6.2% | 3.3% |
| 2025 | 3.5% | 1.4% |
| 2026 | 2.4% | 1.9% |
Top exports between countries
Balance of trade
|
Antigua
|
Belize
|
|
|---|---|---|
Current account balance
|
-$181M
2024 |
-$51.7M
2024 |
| Current account balance ranking |
98/190
2024 |
84/190
2024 |
| Current account balance, % of GDP |
-8.22%
2024 |
-1.61%
2024 |
| Goods imports |
$726M
2024 |
$1.36B
2024 |
| Goods exports |
$72.1M
2024 |
$482M
2024 |
| Service imports |
$557M
2024 |
$362M
2024 |
| Service exports |
$1.24B
2024 |
$1.16B
2024 |
| Imports of goods and services, % of GDP |
63%
2022 |
53.7%
2024 |
| Exports of goods and services, % of GDP |
54.7%
2022 |
55.2%
2024 |
Economic freedom indices
The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.
|
Antigua
|
Belize
|
|
|---|---|---|
| Economic freedom | 56 | 64.2 |
| Economic freedom ranking | 123/197 | 73/197 |
| Property rights | n/a | 35.1 |
| Government integrity | n/a | 44.4 |
| Judicial effectiveness | n/a | 72.6 |
| Tax burden | n/a | 83.2 |
| Government spending | n/a | 82.2 |
| Fiscal health | n/a | 86.5 |
| Business freedom | n/a | 68.3 |
| Labor freedom | n/a | 65.1 |
| Monetary freedom | n/a | 71.2 |
| Trade freedom | n/a | 56.6 |
| Investment freedom | n/a | 55 |
| Financial freedom | n/a | 50 |
More economic indicators
|
Antigua
|
Belize
|
|
|---|---|---|
| Services, % of GDP |
69.1%
2023 |
62.4%
2024 |
| Industry, % of GDP |
19%
2023 |
14.6%
2024 |
| Agriculture, forestry, and fishing, % of GDP |
1.94%
2023 |
7.95%
2024 |
|
GNI, Atlas method
|
$1.98B
2024 |
$2.98B
2024 |
| GNI per capita, PPP |
$31,730
2024 |
$13,760
2024 |
| Total reserves including gold |
$358M
2024 |
$498M
2024 |
| Total reserves ranking |
164/177
2024 |
156/177
2024 |
|
Net foreign direct investment
|
-$253M
2024 |
-$126M
2024 |
|
Net inflows of foreign direct investment
|
$271M
2024 |
$128M
2024 |
|
Net outflows of foreign direct investment
|
$17.9M
2024 |
$2.61M
2024 |
|
Servicing debt to the IMF, % of GNI
|
n/a |
4.15%
2024 |
| Poverty at national poverty lines | n/a |
52%
2018 |
|
Gross capital formation, % of GDP
|
n/a |
19.8%
2024 |
GDP per capita map
GDP per capita
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Economy comparisons
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.