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Economy of Bahrain vs Portugal compared: GDP & Debt

Updated on by Georank team

Bahrain has a GDP of $47.1B compared to $313B for Portugal, ranking 96/197 and 46/197 by economy size, respectively.

Bahrain has $62.8B in government debt (133.4% of GDP), compared to $297B (94.9% of GDP) in Portugal.

Bahrain vs Portugal GDP by year

Bahrain
Portugal
1x
Year GDP, current $
Bahrain Portugal
2024 $47,109,734,309 $313,271,185,085
2023 $46,192,260,638 $292,323,800,949
2022 $46,458,191,489 $256,898,677,175
2021 $40,840,212,766 $256,055,879,091
2020 $35,837,632,979 $229,618,773,423
2019 $40,446,808,511 $240,115,970,063
2018 $39,567,978,723 $242,092,894,543
2017 $37,204,813,830 $220,862,990,767
2016 $33,884,680,851 $206,305,431,242
2015 $32,523,297,872 $199,038,523,120
2014 $34,772,526,596 $230,078,616,300
2013 $33,823,324,468 $226,677,408,292
2012 $31,963,404,255 $216,536,676,772
2011 $29,914,680,851 $245,426,767,676
2010 $26,805,984,043 $238,443,864,993
2009 $22,938,218,085 $244,667,762,836
2008 $25,710,904,255 $263,416,394,624
2007 $21,730,000,000 $240,496,147,317
2006 $18,504,760,638 $208,756,449,276
2005 $15,968,723,404 $197,253,876,705
2004 $13,150,159,574 $189,382,122,532
2003 $11,074,813,830 $165,226,175,537
2002 $9,593,510,638 $134,795,565,549
2001 $8,976,196,809 $121,604,107,165
2000 $9,062,898,936 $118,605,192,877
1999 $7,528,469,149 $127,470,385,557
1998 $7,031,309,043 $123,946,327,916
1997 $7,219,407,713 $117,016,535,163
1996 $6,938,166,755 $122,630,089,680
1995 $6,651,180,851 $118,122,007,430
1994 $6,330,627,926 $99,688,641,304
1993 $5,913,001,064 $95,009,751,901
1992 $5,402,232,447 $107,592,098,307
1991 $5,248,911,170 $89,233,599,278
1990 $4,809,511,005 $78,713,860,217
1989 $4,393,093,963 $60,594,092,182
1988 $4,209,834,173 $56,347,250,696
1987 $3,856,922,694 $48,182,925,857
1986 $3,470,746,843 $38,745,901,354
1985 $4,152,376,484 $27,115,807,742
1984 $4,440,874,566 $25,217,969,050
1983 $4,247,030,468 $27,239,650,742
1982 $4,145,421,080 $30,527,754,793
1981 $3,943,109,532 $31,977,276,873
1980 $3,493,834,468 $32,896,519,824
1979 $2,710,160,739 $26,622,819,672
1978 $2,272,042,965 $23,487,614,051
1977 $1,989,060,283 $21,439,523,311
1976 $1,581,709,519 $20,332,831,565
1975 $1,099,107,601 $19,347,607,843
1974 $1,042,176,884 $17,512,391,476
1973 $761,132,545 $15,090,564,186
1972 $534,081,184 $11,239,117,865
1971 $422,181,562 $9,201,604,240
1970 $391,577,364 $8,108,235,704
1969 - $7,287,555,035
1968 - $6,644,693,214
1967 - $6,002,607,030
1966 - $5,370,108,031
1965 - $4,901,711,248
1964 - $4,429,202,657
1963 - $4,084,251,593
1962 - $3,835,883,663
1961 - $3,573,719,085
1960 - $3,339,150,158

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

GeoRank.org/economy/bahrain/portugal | CC BY

GDP per capita in Bahrain vs Portugal by year

Bahrain
GDP per capita

GDP per capita, PPP
Portugal
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahrain Portugal
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $29,654 $66,941 $29,292 $51,680
2023 $29,290 $64,171 $27,635 $49,353
2022 $30,471 $61,678 $24,621 $45,250
2021 $27,148 $54,955 $24,711 $38,658
2020 $24,343 $53,436 $22,299 $35,967
2019 $27,260 $56,600 $23,343 $37,866
2018 $26,324 $51,993 $23,541 $34,897
2017 $24,785 $50,185 $21,442 $32,971
2016 $23,800 $47,429 $19,980 $31,589
2015 $23,734 $48,034 $19,216 $29,608
2014 $26,452 $54,299 $22,121 $28,765
2013 $26,990 $56,310 $21,676 $27,966
2012 $26,439 $56,713 $20,593 $26,476
2011 $25,033 $52,677 $23,247 $26,803
2010 $21,819 $49,255 $22,552 $27,292
2009 $19,465 $48,626 $23,151 $26,472
2008 $23,299 $50,330 $24,949 $26,666
2007 $20,908 $49,347 $22,811 $25,738
2006 $19,267 $48,009 $19,839 $24,677
2005 $17,966 $47,268 $18,780 $22,725
2004 $15,964 $46,317 $18,064 $21,476
2003 $14,486 $45,427 $15,798 $20,850
2002 $13,501 $45,091 $12,937 $20,357
2001 $13,573 $46,162 $11,735 $19,529
2000 $14,214 $45,688 $11,526 $18,883
1999 $12,123 $43,561 $12,475 $17,718
1998 $11,625 $42,281 $12,199 $16,688
1997 $12,255 $40,965 $11,576 $15,789
1996 $12,092 $40,106 $12,185 $14,922
1995 $11,901 $38,839 $11,781 $14,406
1994 $11,629 $37,579 $9,977 $13,578
1993 $11,152 $37,870 $9,535 $13,202
1992 $10,460 $33,648 $10,811 $13,182
1991 $10,434 $31,657 $8,959 $12,739
1990 $9,343 $26,902 $7,885 $11,780
1989 $8,833 - $6,056 -
1988 $8,772 - $5,624 -
1987 $8,333 - $4,804 -
1986 $7,777 - $3,862 -
1985 $9,649 - $2,705 -
1984 $10,697 - $2,523 -
1983 $10,599 - $2,735 -
1982 $10,712 - $3,080 -
1981 $10,557 - $3,246 -
1980 $9,733 - $3,368 -
1979 $7,891 - $2,756 -
1978 $6,926 - $2,457 -
1977 $6,358 - $2,267 -
1976 $5,310 - $2,173 -
1975 $3,880 - $2,128 -
1974 $3,874 - $2,000 -
1973 $2,981 - $1,748 -
1972 $2,206 - $1,302 -
1971 $1,830 - $1,065 -
1970 $1,742 - $934 -
1969 - - $832 -
1968 - - $752 -
1967 - - $676 -
1966 - - $601 -
1965 - - $545 -
1964 - - $490 -
1963 - - $452 -
1962 - - $426 -
1961 - - $400 -
1960 - - $377 -

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

GeoRank.org/economy/bahrain/portugal | CC BY

Bahrain's GDP per capita is $29,654, ranking 42/197, compared to $29,292 in Portugal, ranking 44/197. Adjusted for purchasing power (GDP per capita PPP), Bahrain ranks 26th at $66,941, while Portugal ranks 42nd at $51,680.

Economic indicators

Bahrain Portugal
Gross domestic product
$47.1B
2024
$313B
2024
GDP rank
96/197
2024
46/197
2024
GDP growth
2.6%
2023-2024
2.14%
2023-2024
GDP per capita
$29,654
2024
$29,292
2024
GDP per capita rank
42/197
2024
44/197
2024
GDP per capita, PPP
$66,941
2024
$51,680
2024
GDP per capita PPP rank
26/197
2024
42/197
2024
Government debt
$62.8B
2024
$297B
2024
Debt-to-GDP ratio
133.4%
2024
94.9%
2024
Government debt per person
$39,552
2024
$27,807
2024
Government debt per person rank
14/185
2024
27/185
2024
Average annual personal income after taxes
$23,253
2026
$16,747
2026
Market capitalization of domestic companies
$20.4B
2024
$61.9B
2018
Number of millionaires n/a
171,797
2025
Number of billionaires n/a
1
2025
Income share by richest 10% n/a
26.9%
2023
Income share by poorest 10% n/a
2.7%
2023
Government expenditure, % of GDP
29.1%
2024
42.8%
2024
Consumer prices inflation
0.92%
2023-2024
2.42%
2023-2024
Central bank interest rate
4.25%
2025
n/a
Unemployment rate
1.2%
2012
6.43%
2024
Population
1669503
10667081

Spending and national debt comparison by year

Bahrain
Spending

Debt
Portugal
Spending

Debt
1x
Year % of GDP
Bahrain Portugal
Government spending Government debt Government spending Government debt
2024 29.1% 133.4% 42.8% 94.9%
2023 29.1% 123% 42.3% 97.7%
2022 28.4% 111.6% 43.9% 111.2%
2021 30.6% 122.3% 47.3% 123.9%
2020 34.6% 125.7% 49.1% 134.1%
2019 31.2% 97.1% 42.5% 116.1%
2018 32.1% 90.4% 43.3% 121.1%
2017 30.7% 84% 45.5% 126%
2016 33.3% 77.4% 44.9% 131.2%
2015 34.8% 63.2% 48.2% 131%
2014 27.3% 42.6% 51.7% 132.5%
2013 32% 42.3% 50% 130.8%
2012 31.1% 34.8% 48.8% 128.6%
2011 30.2% 31.6% 50% 114%
2010 31.1% 28.8% 51.9% 100.1%
2009 24.6% 20.5% 50.3% 87.8%
2008 22.7% 12.1% 45.5% 75.6%
2007 22.4% 15.7% 44.5% 72.7%
2006 23.1% 19.4% 45.1% 73.7%
2005 23.9% 23.2% 46.8% 72.2%
2004 25% 28.2% 46.1% 67.1%
2003 28.1% 31.1% 45.4% 63.9%
2002 30.6% 27.2% 44.2% 60%
2001 26.5% 25% 44.1% 57.4%
2000 22.2% 24.7% 42.8% 54.2%
1999 27.1% 24.7% 42.5% 55.4%
1998 25.7% 20% 42.6% 55.6%
1997 31% 14.8% 42.4% 58.7%
1996 22.7% 13.1% 43% 63.3%
1995 25.1% 13.6% 42.6% 62.2%
1994 26.1% 5.62% 42.8% 60.4%
1993 26.7% 5.95% 46.5% 57.2%
1992 29.4% 6.45% 48.2% 58.1%
1991 28.5% 6.71% 45.9% 63.9%
1990 32.4% 7.24% 42.2% 60.2%
1989 - - 36.2% 55.4%
1988 - - 36.2% 56.8%
1987 - - 37.5% 57.2%
1986 - - 38.9% 59.8%
1985 - - 37.5% 59.4%
1984 - - 34.6% 51.3%
1983 - - 34.7% 46.7%
1982 - - 35.8% 43%
1981 - - 35.3% 39.3%
1980 - - 32.4% 31%
1979 - - 30.8% 35.2%
1978 - - 31.7% 31.4%
1977 - - 35.1% 26.9%
1976 - - 38.2% 24.5%
1975 - - 31.9% 19.2%
1974 - - 25.8% 13.5%
1973 - - 25.7% 13.6%
1972 - - 22.8% 14.5%
1971 - - 15.5% 15.7%
1970 - - 15.5% 16.5%
1969 - - 14.9% 16.8%
1968 - - 14.3% 17.2%
1967 - - 14.1% 18.5%
1966 - - 14.4% 20.2%
1965 - - 13.4% 20.4%
1964 - - 13.9% 21.9%
1963 - - 14.6% 20.8%
1962 - - 14.5% 18.7%
1961 - - 14.6% 17.1%
1960 - - 14.3% 16.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1989, retrieved 2026-02-20).

GeoRank.org/economy/bahrain/portugal | CC BY

In 2024, Bahrain's government spending was $13.7B, accounting for 29.1% of its GDP, while Portugal spent $134B, or 42.8% of GDP.

Debt-to-GDP ratio is 133.4% in Bahrain and 94.9% in Portugal, ranking 9/185 and 27/185, respectively.

Government deficit by year

Deficit/surplus
Bahrain

Portugal
1x
Year Deficit/surplus, % of GDP
Bahrain Portugal
2024 -10.6% 0.7%
2023 -9.67% 1.21%
2022 -6.02% -0.31%
2021 -10.6% -2.83%
2020 -17.3% -5.75%
2019 -8.57% 0.12%
2018 -11.3% -0.43%
2017 -13.4% -3%
2016 -16.6% -1.94%
2015 -17.5% -4.37%
2014 -3.32% -7.32%
2013 -8.55% -5.21%
2012 -5.77% -6.2%
2011 -4.9% -7.73%
2010 -9.29% -11.4%
2009 -5.36% -9.87%
2008 4.08% -3.81%
2007 1.52% -2.91%
2006 2.24% -4.07%
2005 2.8% -6.11%
2004 0.24% -5.99%
2003 -1.7% -5.66%
2002 -3.27% -3.73%
2001 0.7% -4.73%
2000 7.33% -3.35%
1999 -4.85% -2.99%
1998 -5.49% -4.3%
1997 -6.39% -3.65%
1996 0.24% -4.63%
1995 -3.99% -5.14%
1994 -5.18% -7.37%
1993 -2.77% -8.06%
1992 -5.41% -5.19%
1991 -3.47% -7.93%
1990 -6.79% -6.82%
1989 - -2.86%
1988 - -3.52%
1987 - -6.79%
1986 - -7.45%
1985 - -8.35%
1984 - -5.23%
1983 - -4.86%
1982 - -7.02%
1981 - -8.34%
1980 - -6.92%
1979 - -6.08%
1978 - -7.15%
1977 - -7.5%
1976 - -10.2%
1975 - -7.1%
1974 - -3.2%
1973 - -5.39%
1972 - -7.72%
1971 - -0.23%
1970 - -0.24%
1969 - -1.53%
1968 - -1.24%
1967 - -0.46%
1966 - -2%
1965 - -0.03%
1964 - -1.93%
1963 - -3.33%
1962 - -1.69%
1961 - -3.17%
1960 - -3.13%
1959 - -1.73%
1958 - -0.52%
1957 - 0.08%
1956 - -0.18%
1955 - -0.31%
1954 - -0.58%
1953 - -0.35%
1952 - -0.34%
1951 - 0.94%
1950 - -0.83%
1949 - -0.46%
1948 - -2.04%
1947 - -1.65%
1946 - -2.32%
1945 - -2.38%
1944 - -1.44%
1943 - 0.03%
1942 - -0.35%
1941 - -0.08%
1940 - -1.74%
1939 - -0.73%
1938 - -0.08%
1937 - -0.09%
1936 - 0.08%
1935 - 0.75%
1934 - 0.6%
1933 - -0.07%
1932 - -0.03%
1931 - 0.04%
1930 - 0.79%
1929 - 1.86%
1928 - 0.2%
1927 - -2.27%
1926 - -4.21%
1925 - -1.48%
1924 - -3.16%
1923 - -3.47%
1922 - -10%
1921 - -6.5%
1920 - -5.66%
1919 - -8.83%
1918 - -8.3%
1917 - -5.49%
1916 - -
1915 - -
1914 - -
1913 - -0.34%
1912 - -0.02%
1911 - -0.73%
1910 - -0.19%
1909 - -0.82%
1908 - -0.56%
1907 - -0.69%
1906 - -0.45%
1905 - -0.75%
1904 - -0.26%
1903 - -0.91%
1902 - -0.5%
1901 - -0.69%
1900 - -0.35%
1899 - -0.77%
1898 - -0.5%
1897 - -0.93%
1896 - -1.35%
1895 - -0.2%
1894 - -0.16%
1893 - -0.02%
1892 - -0.8%
1891 - -2.15%
1890 - -2.01%
1889 - -1.95%
1888 - -2.14%
1887 - -0.67%
1886 - -1.43%
1885 - -1.68%
1884 - -1.48%
1883 - -1.1%
1882 - -0.39%
1881 - -1.2%
1880 - -1.63%

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/bahrain/portugal | CC BY

In 2024, Bahrain's government deficit, the difference between spending and revenue, was $5B, equivalent to 10.6% of GDP. This compares to Portugal's surplus of $2.19B, or 0.7% of GDP.

Over the past 35 years, Bahrain recorded a fiscal deficit in 27 of those years, while Portugal ran a deficit in 32 years. On average, Bahrain posted an annual deficit equal to 5.39% of GDP, compared to deficit of 4.6% of GDP for Portugal.

Inflation comparison by year

Inflation
Bahrain

Portugal
1x
Year Consumer prices inflation
Bahrain Portugal
2024 0.92% 2.42%
2023 0.07% 4.31%
2022 3.63% 7.83%
2021 -0.61% 1.27%
2020 -2.32% -0.01%
2019 1.01% 0.34%
2018 2.09% 0.99%
2017 1.39% 1.37%
2016 2.79% 0.61%
2015 1.85% 0.49%
2014 2.65% -0.28%
2013 3.3% 0.27%
2012 2.76% 2.77%
2011 -0.4% 3.65%
2010 1.96% 1.4%
2009 2.8% -0.84%
2008 3.53% 2.59%
2007 3.26% 2.45%
2006 2.01% 3.11%
2005 2.59% 2.28%
2004 2.35% 2.37%
2003 1.59% 3.22%
2002 -0.5% 3.6%
2001 -1.21% 4.37%
2000 -0.7% 2.85%
1999 -1.29% 2.34%
1998 -0.37% 2.57%
1997 2.43% 2.34%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/bahrain/portugal | CC BY

Over the past 28 years, Bahrain has recorded an average annual inflation rate of 1.34%, compared with 2.17% in Portugal. In 2024, inflation was 0.92% in Bahrain and 2.42% in Portugal.

Top exports between countries

Bahrain
Export category Export value
Metals $1.69M
Textiles & consumer goods $489K
Chemicals & pharma $73K
Machinery & equipment $60K
Miscellaneous $27K
Animal & marine products $3K
Processed food, beverages & tobacco $1K
Raw agricultural goods $1K
Portugal
Export category Export value
Machinery & equipment $2.63M
Textiles & consumer goods $2.4M
Chemicals & pharma $1.49M
Raw materials & minerals $732K
Processed food, beverages & tobacco $517K
Metals $399K
Raw agricultural goods $384K
Wood & paper products $211K
Animal & marine products $104K
Precious metals & jewellery $87K

Balance of trade

Bahrain Portugal
Current account balance
$2.28B
2024
$6.51B
2024
Current account balance ranking
44/190
2024
28/190
2024
Current account balance, % of GDP
+4.84%
2024
+2.08%
2024
Goods imports
$20.7B
2024
$109B
2024
Goods exports
$24.3B
2024
$81.4B
2024
Service imports
$12.4B
2024
$27.9B
2024
Service exports
$17B
2024
$62.7B
2024
Imports of goods and services, % of GDP
70.1%
2024
43.9%
2024
Exports of goods and services, % of GDP
87.7%
2024
45.8%
2024

Economic freedom indices

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

Bahrain Portugal
Economic freedom 65.7 71.2
Economic freedom ranking 63/197 33/197
Property rights 60.9 88.9
Government integrity 45.9 63.4
Judicial effectiveness 30 90.1
Tax burden 99.9 60.6
Government spending 75 44.6
Fiscal health 0 82
Business freedom 75.9 83.1
Labor freedom 55.5 54.8
Monetary freedom 88.8 77.7
Trade freedom 86.8 79.4
Investment freedom 90 70
Financial freedom 80 60

Economic freedom comparison by year

Bahrain
Portugal
1x
Year Economic freedom index
Bahrain Portugal
2026 65.7 71.2
2025 65.6 70.5
2024 63.4 68.7
2023 62.5 69.5
2022 62 70.8
2021 69.9 67.5
2020 66.3 67
2019 66.4 65.3
2018 67.7 63.4
2017 68.5 62.6
2016 74.3 65.1
2015 73.4 65.3
2014 75.1 63.5
2013 75.5 63.1
2012 75.2 63
2011 77.7 64
2010 76.3 64.4
2009 74.8 64.9
2008 72.2 63.9
2007 71.2 64
2006 71.6 62.9
2005 71.2 62.4
2004 75.1 64.9
2003 76.3 64.9
2002 75.6 65.4
2001 75.9 66
2000 75.7 65.5
1999 75.2 65.6
1998 75.6 65
1997 76.1 63.6
1996 76.4 64.5
1995 76.2 62.4

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

GeoRank.org/economy/bahrain/portugal | CC BY

The Economic Freedom Index for Bahrain is 65.7, ranking 63/197, compared to 71.2 for Portugal, ranking 33/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahrain Portugal
Services, % of GDP
53.2%
2024
66.3%
2024
Industry, % of GDP
42.3%
2024
18.7%
2024
Agriculture, forestry, and fishing, % of GDP
0.25%
2024
2.02%
2024
GNI, Atlas method
$44.6B
2024
$288B
2024
GNI per capita, PPP
$62,230
2024
$50,730
2024
Total reserves including gold
$4.95B
2024
$42.4B
2024
Total reserves ranking
102/177
2024
48/177
2024
Net foreign direct investment
-$2.43B
2024
-$6.64B
2024
Net inflows of foreign direct investment
$2.7B
2024
$13.5B
2024
Net outflows of foreign direct investment
$275M
2024
$6.84B
2024
Poverty at national poverty lines n/a
16.4%
2021
Gross capital formation, % of GDP
28.4%
2024
20.4%
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/bahrain/portugal | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-02-20)
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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.

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.