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Economy of Belize vs Cameroon compared: GDP & Debt

Updated on by Georank team

Belize has a GDP of $3.2B compared to $53.3B for Cameroon, ranking 168/197 and 91/197 by economy size, respectively.

Belize has $2.1B in government debt (65.4% of GDP), compared to $22.8B (42.8% of GDP) in Cameroon.

Belize vs Cameroon GDP by year

Belize
Cameroon
1x
Year GDP, current $
Belize Cameroon
2024 $3,203,631,800 $53,296,694,320
2023 $3,052,362,650 $48,814,501,547
2022 $2,846,604,350 $44,347,206,073
2021 $2,428,606,250 $45,011,937,347
2020 $2,047,284,600 $40,773,241,177
2019 $2,381,187,850 $39,667,757,528
2018 $2,285,915,050 $39,955,552,190
2017 $2,266,028,250 $36,098,547,033
2016 $2,239,604,950 $33,814,337,044
2015 $2,193,095,150 $32,210,233,020
2014 $2,138,242,200 $36,386,544,706
2013 $2,035,191,450 $33,728,621,180
2012 $1,917,083,500 $30,155,062,329
2011 $1,831,576,700 $30,630,910,495
2010 $1,748,988,400 $27,507,501,821
2009 $1,688,012,750 $27,932,970,317
2008 $1,738,453,600 $27,715,142,033
2007 $1,706,190,450 $23,928,250,433
2006 $1,590,463,100 $20,910,512,975
2005 $1,474,298,400 $19,509,852,207
2004 $1,400,202,000 $18,826,214,136
2003 $1,308,280,250 $15,970,315,035
2002 $1,243,912,050 $12,417,251,350
2001 $1,172,045,150 $10,953,485,349
2000 $1,138,138,100 $10,566,579,295
1999 $999,713,050 $11,565,826,465
1998 $929,047,000 $11,298,144,990
1997 $872,916,050 $10,789,458,433
1996 $850,339,100 $11,093,538,846
1995 $818,590,250 $10,864,772,471
1994 $771,838,000 $8,902,446,252
1993 $752,255,150 $16,181,814,713
1992 $695,741,150 $12,071,775,335
1991 $596,682,100 $11,840,192,296
1990 $546,750,912 $12,314,482,628
1989 $491,100,000 $11,012,566,195
1988 $421,450,000 $12,236,057,362
1987 $371,100,000 $13,049,659,981
1986 $311,500,000 $11,857,056,199
1985 $287,300,000 $8,544,810,498
1984 $290,350,000 $7,311,938,026
1983 $262,150,000 $6,870,200,010
1982 $248,550,000 $6,611,255,964
1981 $260,750,000 $6,610,938,617
1980 $257,400,000 $6,674,569,047
1979 $151,800,000 $5,919,002,983
1978 $136,300,000 $4,662,852,583
1977 $117,650,000 $3,394,664,024
1976 $97,094,227 $2,898,090,002
1975 $118,194,026 $2,857,037,371
1974 $103,160,450 $2,157,415,533
1973 $78,214,768 $1,901,393,361
1972 $65,998,069 $1,498,251,890
1971 $59,074,687 $1,236,941,394
1970 $53,339,893 $1,151,216,993
1969 $47,399,905 $1,100,551,489
1968 $44,999,910 $1,046,191,218
1967 $47,431,256 $936,175,260
1966 $44,450,044 $851,112,535
1965 $40,110,040 $814,083,266
1964 $36,194,586 $776,650,177
1963 $33,750,114 $718,320,845
1962 $31,857,592 $694,247,864
1961 $29,965,000 $652,777,608
1960 $28,072,478 $614,206,068

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

GeoRank.org/economy/belize/cameroon | CC BY

GDP per capita in Belize vs Cameroon by year

Belize
GDP per capita

GDP per capita, PPP
Cameroon
GDP per capita

GDP per capita, PPP
1x
Year Current $
Belize Cameroon
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,681 $14,347 $1,830 $5,589
2023 $7,425 $13,730 $1,720 $5,411
2022 $7,068 $13,461 $1,605 $5,189
2021 $6,143 $11,716 $1,672 $4,794
2020 $5,239 $9,639 $1,556 $4,365
2019 $6,172 $10,500 $1,555 $4,241
2018 $6,012 $9,497 $1,611 $4,011
2017 $6,072 $9,121 $1,496 $3,767
2016 $6,141 $9,399 $1,442 $3,627
2015 $6,155 $9,538 $1,415 $3,498
2014 $6,128 $9,490 $1,649 $3,422
2013 $5,957 $9,526 $1,576 $3,239
2012 $5,733 $9,303 $1,449 $3,060
2011 $5,596 $9,722 $1,514 $2,989
2010 $5,461 $9,748 $1,399 $2,914
2009 $5,400 $9,728 $1,461 $2,879
2008 $5,712 $9,975 $1,492 $2,870
2007 $5,762 $10,226 $1,326 $2,818
2006 $5,525 $9,910 $1,191 $2,704
2005 $5,270 $9,466 $1,143 $2,598
2004 $5,154 $9,245 $1,133 $2,533
2003 $4,960 $8,850 $988 $2,368
2002 $4,859 $8,154 $790 $2,263
2001 $4,719 $7,852 $715 $2,191
2000 $4,727 $7,544 $709 $2,108
1999 $4,290 $6,790 $796 $2,039
1998 $4,126 $6,333 $799 $1,975
1997 $4,014 $6,243 $783 $1,915
1996 $4,043 $6,087 $827 $1,850
1995 $4,010 $6,091 $832 $1,790
1994 $3,877 $6,073 $701 $1,752
1993 $3,860 $6,075 $1,310 $1,731
1992 $3,643 $5,706 $1,005 $1,890
1991 $3,190 $5,053 $1,015 $1,963
1990 $2,986 $4,467 $1,087 $2,032
1989 $2,742 - $1,001 -
1988 $2,406 - $1,145 -
1987 $2,166 - $1,258 -
1986 $1,859 - $1,179 -
1985 $1,754 - $875 -
1984 $1,814 - $772 -
1983 $1,677 - $746 -
1982 $1,629 - $732 -
1981 $1,753 - $750 -
1980 $1,774 - $784 -
1979 $1,071 - $718 -
1978 $983 - $582 -
1977 $866 - $435 -
1976 $729 - $381 -
1975 $906 - $386 -
1974 $805 - $299.9 -
1973 $619 - $271.8 -
1972 $529 - $220.1 -
1971 $481 - $186.7 -
1970 $442 - $178.5 -
1969 $402 - $175.2 -
1968 $392 - $170.8 -
1967 $426 - $156.6 -
1966 $412 - $145.8 -
1965 $383 - $142.7 -
1964 $356 - $139.2 -
1963 $342 - $131.6 -
1962 $332 - $130 -
1961 $320 - $124.6 -
1960 $307 - $119.1 -

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

GeoRank.org/economy/belize/cameroon | CC BY

Belize's GDP per capita is $7,681, ranking 98/197, compared to $1,830 in Cameroon, ranking 158/197. Adjusted for purchasing power (GDP per capita PPP), Belize ranks 117th at $14,347, while Cameroon ranks 156th at $5,589.

Economic indicators

Belize Cameroon
Gross domestic product
$3.2B
2024
$53.3B
2024
GDP rank
168/197
2024
91/197
2024
GDP growth
3.5%
2023-2024
3.52%
2023-2024
GDP per capita
$7,681
2024
$1,830
2024
GDP per capita rank
98/197
2024
158/197
2024
GDP per capita, PPP
$14,347
2024
$5,589
2024
GDP per capita PPP rank
117/197
2024
156/197
2024
Government debt
$2.1B
2024
$22.8B
2024
Debt-to-GDP ratio
65.4%
2024
42.8%
2024
Government debt per person
$5,026
2024
$784
2024
Government debt per person rank
78/185
2024
152/185
2024
Average annual personal income after taxes
$9,204
2026
$1,578
2026
Number of billionaires
1
2025
n/a
Income share by richest 10%
30%
2018
31.1%
2021
Income share by poorest 10%
2.2%
2018
2.1%
2021
Government expenditure, % of GDP
26.3%
2024
16.7%
2024
Consumer prices inflation
3.3%
2023-2024
4.53%
2023-2024
Unemployment rate
29.3%
2020
3.28%
2021
Population
430409
30864115

Spending and national debt comparison by year

Belize
Spending

Debt
Cameroon
Spending

Debt
1x
Year % of GDP
Belize Cameroon
Government spending Government debt Government spending Government debt
2024 26.3% 65.4% 16.7% 42.8%
2023 25.8% 67.5% 17.1% 43.1%
2022 23.4% 66.8% 17.1% 45.6%
2021 25.7% 82.2% 17.1% 47.2%
2020 33.2% 103% 16.6% 44.9%
2019 27.5% 78.6% 18.7% 41.6%
2018 26.9% 79% 18% 38.3%
2017 27.7% 78.1% 19.2% 36.5%
2016 27.7% 70.5% 20.2% 32.1%
2015 27.9% 65.1% 20.1% 31.6%
2014 24.8% 61.5% 20.1% 20.7%
2013 23.8% 62.8% 19.2% 17.5%
2012 22.1% 63.1% 17.2% 14.9%
2011 23.5% 66.2% 17.8% 15.9%
2010 23.3% 68.4% 15.2% 14%
2009 23.2% 69.7% 14.7% 11.3%
2008 21.8% 64.7% 15.9% 11.2%
2007 22.1% 66.4% 13.5% 13.8%
2006 21.2% 71.4% 12.5% 18.4%
2005 21.4% 72.7% 12.4% 43.8%
2004 21.7% 70.7% 13.4% 51.7%
2003 24.6% 67.2% 13.2% 51.5%
2002 24.4% 53.2% 13.9% 56.6%
2001 25.9% 49.5% 14.6% 62.2%
2000 23.2% 79% 14.6% 75.9%
1999 23.6% 41.5% - 68.4%
1998 20.9% 38.7% - 67.8%
1997 19.9% 39.4% - -
1996 19.9% 38.4% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1996–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1996–2000, retrieved 2026-02-20).

GeoRank.org/economy/belize/cameroon | CC BY

In 2024, Belize's government spending was $842M, accounting for 26.3% of its GDP, while Cameroon spent $8.91B, or 16.7% of GDP.

Debt-to-GDP ratio is 65.4% in Belize and 42.8% in Cameroon, ranking 67/185 and 125/185, respectively.

Government deficit by year

Deficit/surplus
Belize

Cameroon
1x
Year Deficit/surplus, % of GDP
Belize Cameroon
2024 -1.23% -1.48%
2023 -2.42% -0.63%
2022 -1.04% -1.11%
2021 -3.29% -3.01%
2020 -8.57% -3.19%
2019 -2.9% -3.24%
2018 -1.37% -2.41%
2017 -3.48% -4.72%
2016 -4.47% -5.88%
2015 -5.14% -4.25%
2014 -1.72% -4.09%
2013 -1.21% -3.55%
2012 -0.22% -1.4%
2011 -1.06% -2.26%
2010 -1.9% -0.93%
2009 -2.46% -0.04%
2008 1.25% 2%
2007 -0.19% 3.87%
2006 -2.27% 28.2%
2005 -3.7% 3.03%
2004 -4.52% -0.46%
2003 -8.41% 0.56%
2002 -5.41% 1.51%
2001 -7.23% 0.86%
2000 -6.68% 1.54%
1999 -6.51% -
1998 -2.69% -
1997 -1.81% -
1996 -1.76% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1996–2024, retrieved 2026-02-20).

GeoRank.org/economy/belize/cameroon | CC BY

In 2024, Belize's government deficit, the difference between spending and revenue, was $39.4M, equivalent to 1.23% of GDP. This compares to Cameroon's deficit of $789M, or 1.48% of GDP.

Over the past 25 years, Belize recorded a fiscal deficit in 24 of those years, while Cameroon ran a deficit in 17 years. On average, Belize posted an annual deficit equal to 3.19% of GDP, compared to deficit of 0.04% of GDP for Cameroon.

Inflation comparison by year

Inflation
Belize

Cameroon
1x
Year Consumer prices inflation
Belize Cameroon
2024 3.3% 4.53%
2023 4.4% 7.38%
2022 6.3% 6.25%
2021 3.2% 2.27%
2020 0.1% 2.44%
2019 0.2% 2.45%
2018 0.3% 1.07%
2017 1.1% 0.64%
2016 0.7% 0.87%
2015 -0.9% 2.68%
2014 1.2% 1.85%
2013 0.5% 2.05%
2012 1.2% 2.74%
2011 1.7% 2.94%
2010 0.9% 1.28%
2009 -1.1% 3.04%
2008 6.4% 5.34%
2007 2.3% 0.92%
2006 4.2% 5.12%
2005 3.7% 2.01%
2004 3.1% 0.23%
2003 2.6% 0.62%
2002 2.2% 2.83%
2001 1.1% 4.42%
2000 0.6% 1.23%
1999 -1.2% 1.87%
1998 -0.8% 3.17%
1997 1% 4.79%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/belize/cameroon | CC BY

Over the past 28 years, Belize has recorded an average annual inflation rate of 1.73%, compared with 2.75% in Cameroon. In 2024, inflation was 3.3% in Belize and 4.53% in Cameroon.

Top exports between countries

Belize
Export category Export value
Cameroon
Export category Export value
Raw materials & minerals $48K

Balance of trade

Belize Cameroon
Current account balance
-$51.7M
2024
-$2.02B
2023
Current account balance ranking
84/190
2024
144/190
2023
Current account balance, % of GDP
-1.61%
2024
-4.14%
2023
Goods imports
$1.36B
2024
$7.74B
2023
Goods exports
$482M
2024
$6.34B
2023
Service imports
$362M
2024
$2.55B
2023
Service exports
$1.16B
2024
$2.01B
2023
Imports of goods and services, % of GDP
53.7%
2024
18.7%
2024
Exports of goods and services, % of GDP
55.2%
2024
15.7%
2024

Economic freedom indices

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

Belize Cameroon
Economic freedom 64.7 52
Economic freedom ranking 71/197 151/197
Property rights 46.3 28.1
Government integrity 46.2 21
Judicial effectiveness 73.9 10.1
Tax burden 81.8 72.2
Government spending 81 91.4
Fiscal health 87.5 94.5
Business freedom 67.2 48.6
Labor freedom 57.6 45.6
Monetary freedom 72.6 75.3
Trade freedom 57.8 57.2
Investment freedom 55 30
Financial freedom 50 50

Economic freedom comparison by year

Belize
Cameroon
1x
Year Economic freedom index
Belize Cameroon
2026 64.7 52
2025 64.2 52.1
2024 61.2 53.6
2023 59.8 51.9
2022 56.6 52.9
2021 57.5 53.4
2020 57.4 53.6
2019 55.4 52.4
2018 57.1 51.9
2017 58.6 51.8
2016 57.4 54.2
2015 56.8 51.9
2014 56.7 52.6
2013 57.3 52.3
2012 61.9 51.8
2011 63.8 51.8
2010 61.5 52.3
2009 63 53
2008 63 54.3
2007 63.3 55.6
2006 64.7 54.6
2005 64.5 53
2004 62.8 52.3
2003 63.5 52.7
2002 65.6 52.8
2001 65.9 53.3
2000 63.3 49.9
1999 60.7 50.3
1998 59.1 48
1997 64.3 44.6
1996 61.6 45.7
1995 62.9 51.3

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

GeoRank.org/economy/belize/cameroon | CC BY

The Economic Freedom Index for Belize is 64.7, ranking 71/197, compared to 52 for Cameroon, ranking 151/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Belize Cameroon
Services, % of GDP
62.4%
2024
50.7%
2024
Industry, % of GDP
14.6%
2024
23.2%
2024
Agriculture, forestry, and fishing, % of GDP
7.95%
2024
18.5%
2024
GNI, Atlas method
$2.98B
2024
$49.5B
2024
GNI per capita, PPP
$13,760
2024
$5,490
2024
Total reserves including gold
$498M
2024
$4.88B
2023
Total reserves ranking
156/177
2024
103/177
2023
Net foreign direct investment
-$126M
2024
-$901M
2023
Net inflows of foreign direct investment
$128M
2024
$888M
2024
Net outflows of foreign direct investment
$2.61M
2024
$63.4M
2024
Servicing debt to the IMF, % of GNI
4.15%
2024
3.2%
2024
Poverty at national poverty lines
52%
2018
37.7%
2021
Gross capital formation, % of GDP
19.8%
2024
18.9%
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/belize/cameroon | 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 (1996–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1996–2000, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. TradeMap (2020, retrieved 2026-02-08)

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.