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Economy of Belize vs China compared: GDP & Debt

Updated on by Georank team

Belize has a GDP of $3.2B compared to $18.7T for China, ranking 168/197 and 2/197 by economy size, respectively.

Belize has $2.1B in government debt (65.4% of GDP), compared to $16.6T (88.3% of GDP) in China.

Belize vs China GDP by year

Belize
China
1x
Year GDP, current $
Belize China
2024 $3,203,631,800 $18,743,803,170,827
2023 $3,052,362,650 $18,270,356,654,533
2022 $2,846,604,350 $18,316,765,021,690
2021 $2,428,606,250 $18,201,698,719,564
2020 $2,047,284,600 $14,996,414,166,715
2019 $2,381,187,850 $14,560,167,101,283
2018 $2,285,915,050 $14,147,765,772,964
2017 $2,266,028,250 $12,537,559,062,283
2016 $2,239,604,950 $11,456,024,084,962
2015 $2,193,095,150 $11,280,814,787,469
2014 $2,138,242,200 $10,674,533,168,257
2013 $2,035,191,450 $9,743,124,247,267
2012 $1,917,083,500 $8,673,664,713,189
2011 $1,831,576,700 $7,671,757,207,851
2010 $1,748,988,400 $6,192,564,874,453
2009 $1,688,012,750 $5,189,577,094,998
2008 $1,738,453,600 $4,667,346,414,522
2007 $1,706,190,450 $3,604,055,822,572
2006 $1,590,463,100 $2,791,498,472,804
2005 $1,474,298,400 $2,317,551,298,052
2004 $1,400,202,000 $1,984,196,551,300
2003 $1,308,280,250 $1,683,903,309,844
2002 $1,243,912,050 $1,489,821,682,051
2001 $1,172,045,150 $1,355,036,590,252
2000 $1,138,138,100 $1,223,754,919,971
1999 $999,713,050 $1,103,843,203,576
1998 $929,047,000 $1,037,134,141,760
1997 $872,916,050 $967,753,570,435
1996 $850,339,100 $868,523,936,530
1995 $818,590,250 $738,190,896,228
1994 $771,838,000 $566,929,539,493
1993 $752,255,150 $446,557,291,212
1992 $695,741,150 $428,502,354,788
1991 $596,682,100 $384,510,452,962
1990 $546,750,912 $361,560,229,446
1989 $491,100,000 $348,380,566,802
1988 $421,450,000 $312,888,888,889
1987 $371,100,000 $273,455,156,951
1986 $311,500,000 $301,310,144,928
1985 $287,300,000 $310,064,625,850
1984 $290,350,000 $260,442,857,143
1983 $262,150,000 $231,130,268,199
1982 $248,550,000 $205,480,916,031
1981 $260,750,000 $196,218,253,968
1980 $257,400,000 $191,487,500,000
1979 $151,800,000 $178,573,913,043
1978 $136,300,000 $149,788,617,886
1977 $117,650,000 $175,226,595,860
1976 $97,094,227 $154,196,810,059
1975 $118,194,026 $163,687,619,736
1974 $103,160,450 $144,418,433,058
1973 $78,214,768 $138,764,340,892
1972 $65,998,069 $113,871,930,714
1971 $59,074,687 $99,959,013,880
1970 $53,339,893 $92,752,930,873
1969 $47,399,905 $79,847,786,729
1968 $44,999,910 $70,980,323,819
1967 $47,431,256 $73,011,350,596
1966 $44,450,044 $76,854,053,259
1965 $40,110,040 $70,565,994,356
1964 $36,194,586 $59,821,862,703
1963 $33,750,114 $50,812,227,919
1962 $31,857,592 $47,310,737,754
1961 $29,965,000 $50,162,299,350
1960 $28,072,478 $59,846,235,025

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

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

GDP per capita in Belize vs China by year

Belize
GDP per capita

GDP per capita, PPP
China
GDP per capita

GDP per capita, PPP
1x
Year Current $
Belize China
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,681 $14,347 $13,303 $27,105
2023 $7,425 $13,730 $12,951 $25,179
2022 $7,068 $13,461 $12,971 $23,032
2021 $6,143 $11,716 $12,887 $20,843
2020 $5,239 $9,639 $10,627 $18,267
2019 $6,172 $10,500 $10,343 $17,601
2018 $6,012 $9,497 $10,086 $16,298
2017 $6,072 $9,121 $8,980 $15,022
2016 $6,141 $9,399 $8,255 $14,157
2015 $6,155 $9,538 $8,175 $13,463
2014 $6,128 $9,490 $7,781 $12,942
2013 $5,957 $9,526 $7,147 $12,228
2012 $5,733 $9,303 $6,405 $11,420
2011 $5,596 $9,722 $5,704 $10,457
2010 $5,461 $9,748 $4,629 $9,411
2009 $5,400 $9,728 $3,898 $8,448
2008 $5,712 $9,975 $3,523 $7,713
2007 $5,762 $10,226 $2,735 $6,935
2006 $5,525 $9,910 $2,129 $5,946
2005 $5,270 $9,466 $1,778 $5,148
2004 $5,154 $9,245 $1,531 $4,505
2003 $4,960 $8,850 $1,307 $4,007
2002 $4,859 $8,154 $1,164 $3,591
2001 $4,719 $7,852 $1,065 $3,258
2000 $4,727 $7,544 $969 $2,964
1999 $4,290 $6,790 $881 $2,690
1998 $4,126 $6,333 $835 $2,483
1997 $4,014 $6,243 $787 $2,297
1996 $4,043 $6,087 $713 $2,088
1995 $4,010 $6,091 $613 $1,884
1994 $3,877 $6,073 $476 $1,680
1993 $3,860 $6,075 $379 $1,471
1992 $3,643 $5,706 $368 $1,276
1991 $3,190 $5,053 $334 $1,105
1990 $2,986 $4,467 $319 $991
1989 $2,742 - $311 -
1988 $2,406 - $284 -
1987 $2,166 - $252.3 -
1986 $1,859 - $282.4 -
1985 $1,754 - $295 -
1984 $1,814 - $251.2 -
1983 $1,677 - $225.9 -
1982 $1,629 - $203.7 -
1981 $1,753 - $197.4 -
1980 $1,774 - $195.1 -
1979 $1,071 - $184.3 -
1978 $983 - $156.7 -
1977 $866 - $185.7 -
1976 $729 - $165.7 -
1975 $906 - $178.6 -
1974 $805 - $160.4 -
1973 $619 - $157.3 -
1972 $529 - $132.1 -
1971 $481 - $118.8 -
1970 $442 - $113.3 -
1969 $402 - $100.3 -
1968 $392 - $91.6 -
1967 $426 - $96.8 -
1966 $412 - $104.5 -
1965 $383 - $98.7 -
1964 $356 - $85.7 -
1963 $342 - $74.5 -
1962 $332 - $71.1 -
1961 $320 - $76 -
1960 $307 - $89.7 -

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

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

Belize's GDP per capita is $7,681, ranking 98/197, compared to $13,303 in China, ranking 76/197. Adjusted for purchasing power (GDP per capita PPP), Belize ranks 117th at $14,347, while China ranks 77th at $27,105.

Economic indicators

Belize China
Gross domestic product
$3.2B
2024
$18.7T
2024
GDP rank
168/197
2024
2/197
2024
GDP growth
3.5%
2023-2024
4.98%
2023-2024
GDP per capita
$7,681
2024
$13,303
2024
GDP per capita rank
98/197
2024
76/197
2024
GDP per capita, PPP
$14,347
2024
$27,105
2024
GDP per capita PPP rank
117/197
2024
77/197
2024
Government debt
$2.1B
2024
$16.6T
2024
Debt-to-GDP ratio
65.4%
2024
88.3%
2024
Government debt per person
$5,026
2024
$11,749
2024
Government debt per person rank
78/185
2024
47/185
2024
Average annual personal income after taxes
$9,204
2026
$9,826
2026
Market capitalization of domestic companies n/a
$11.8T
2024
Number of millionaires n/a
6,327,000
2025
Number of billionaires
1
2025
450
2025
Income share by richest 10%
30%
2018
28.4%
2022
Income share by poorest 10%
2.2%
2018
3.1%
2022
Government expenditure, % of GDP
26.3%
2024
32.9%
2024
Consumer prices inflation
3.3%
2023-2024
0.2%
2023-2024
Central bank interest rate n/a
3.1%
2024
Unemployment rate
29.3%
2020
5.11%
2021
Population
430409
1402578808

Spending and national debt comparison by year

Belize
Spending

Debt
China
Spending

Debt
1x
Year % of GDP
Belize China
Government spending Government debt Government spending Government debt
2024 26.3% 65.4% 32.9% 88.3%
2023 25.8% 67.5% 32.7% 82%
2022 23.4% 66.8% 32.6% 75.5%
2021 25.7% 82.2% 31.9% 70.1%
2020 33.2% 103% 34.8% 69%
2019 27.5% 78.6% 33.6% 59.4%
2018 26.9% 79% 32.6% 55.6%
2017 27.7% 78.1% 32% 53.9%
2016 27.7% 70.5% 31.7% 49.7%
2015 27.9% 65.1% 31% 40.8%
2014 24.8% 61.5% 28.4% 39.3%
2013 23.8% 62.8% 28.1% 36.4%
2012 22.1% 63.1% 27.7% 33.8%
2011 23.5% 66.2% 26.6% 33.2%
2010 23.3% 68.4% 24.7% 33.3%
2009 23.2% 69.7% 25.2% 34%
2008 21.8% 64.7% 22.2% 26.7%
2007 22.1% 66.4% 17.9% 28.7%
2006 21.2% 71.4% 18.1% 25.2%
2005 21.4% 72.7% 18% 25.9%
2004 21.7% 70.7% 17.6% 26%
2003 24.6% 67.2% 18% 26.4%
2002 24.4% 53.2% 18.2% 25.6%
2001 25.9% 49.5% 17.2% 24.3%
2000 23.2% 79% 16.1% 22.7%
1999 23.6% 41.5% 14.9% 21.6%
1998 20.9% 38.7% 12.6% 20.4%
1997 19.9% 39.4% 11.5% 20.4%
1996 19.9% 38.4% 11% 21.2%
1995 - - 11.1% 21.4%
1994 - - 12.4% -
1993 - - 13.4% -
1992 - - 14.6% -
1991 - - 16.5% -
1990 - - 18.2% -
1989 - - 18.6% -
1988 - - 20.9% 4.46%
1987 - - 23.4% 3.6%
1986 - - 25.6% 3.24%
1985 - - 25.8% 3.31%
1984 - - 26.9% 0.97%
1983 - - 28.3% -
1982 - - 27.9% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–2000, retrieved 2026-02-20).

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

In 2024, Belize's government spending was $842M, accounting for 26.3% of its GDP, while China spent $6.18T, or 32.9% of GDP.

Debt-to-GDP ratio is 65.4% in Belize and 88.3% in China, ranking 67/185 and 34/185, respectively.

Government deficit by year

Deficit/surplus
Belize

China
1x
Year Deficit/surplus, % of GDP
Belize China
2024 -1.23% -7.34%
2023 -2.42% -6.71%
2022 -1.04% -7.32%
2021 -3.29% -5.9%
2020 -8.57% -9.56%
2019 -2.9% -6%
2018 -1.37% -4.2%
2017 -3.48% -3.34%
2016 -4.47% -3.33%
2015 -5.14% -2.5%
2014 -1.72% -0.67%
2013 -1.21% -0.82%
2012 -0.22% -0.3%
2011 -1.06% -0.1%
2010 -1.9% -0.36%
2009 -2.46% -1.72%
2008 1.25% -0.02%
2007 -0.19% 0.06%
2006 -2.27% -1.13%
2005 -3.7% -1.38%
2004 -4.52% -1.49%
2003 -8.41% -2.36%
2002 -5.41% -2.84%
2001 -7.23% -2.56%
2000 -6.68% -2.81%
1999 -6.51% -2.3%
1998 -2.69% -1.08%
1997 -1.81% -0.73%
1996 -1.76% -0.73%
1995 - -0.94%
1994 - -1.68%
1993 - -0.89%
1992 - -1.22%
1991 - -1.04%
1990 - -0.72%
1989 - -0.91%
1988 - -2.22%
1987 - -2.08%
1986 - -1.82%
1985 - -0.45%
1984 - -1.44%
1983 - -1.61%
1982 - -1.33%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20).

GeoRank.org/economy/belize/china | 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 China's deficit of $1.38T, or 7.34% of GDP.

Over the past 29 years, Belize recorded a fiscal deficit in 28 of those years, while China ran a deficit in 28 years. On average, Belize posted an annual deficit equal to 3.19% of GDP, compared to deficit of 2.74% of GDP for China.

Inflation comparison by year

Inflation
Belize

China
1x
Year Consumer prices inflation
Belize China
2024 3.3% 0.2%
2023 4.4% 0.2%
2022 6.3% 2%
2021 3.2% 0.9%
2020 0.1% 2.5%
2019 0.2% 2.9%
2018 0.3% 2.1%
2017 1.1% 1.6%
2016 0.7% 2%
2015 -0.9% 1.5%
2014 1.2% 2%
2013 0.5% 2.7%
2012 1.2% 2.6%
2011 1.7% 5.4%
2010 0.9% 3.3%
2009 -1.1% -0.7%
2008 6.4% 5.9%
2007 2.3% 4.7%
2006 4.2% 1.5%
2005 3.7% 1.8%
2004 3.1% 3.9%
2003 2.6% 1.1%
2002 2.2% -0.8%
2001 1.1% 0.7%
2000 0.6% 0.4%
1999 -1.2% -1.4%
1998 -0.8% -0.8%
1997 1% 2.8%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

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

Over the past 28 years, Belize has recorded an average annual inflation rate of 1.73%, compared with 1.82% in China. In 2024, inflation was 3.3% in Belize and 0.2% in China.

Top exports between countries

Belize
Export category Export value
Machinery & equipment $325K
Textiles & consumer goods $268K
Processed food, beverages & tobacco $190K
Chemicals & pharma $26K
Raw materials & minerals $20K
Animal & marine products $14K
Raw agricultural goods $10K
Wood & paper products $9K
Metals $6K
Miscellaneous $6K
China
Export category Export value
Machinery & equipment $73.1M
Textiles & consumer goods $53.7M
Metals $23.4M
Processed food, beverages & tobacco $21.5M
Raw materials & minerals $19.2M
Chemicals & pharma $15.7M
Wood & paper products $2.86M
Miscellaneous $1.9M
Raw agricultural goods $450K
Precious metals & jewellery $264K

Balance of trade

Belize China
Current account balance
-$51.7M
2024
$424B
2024
Current account balance ranking
84/190
2024
1/190
2024
Current account balance, % of GDP
-1.61%
2024
+2.26%
2024
Goods imports
$1.36B
2024
$2.64T
2024
Goods exports
$482M
2024
$3.41T
2024
Service imports
$362M
2024
$613B
2024
Service exports
$1.16B
2024
$384B
2024
Imports of goods and services, % of GDP
53.7%
2024
17.2%
2024
Exports of goods and services, % of GDP
55.2%
2024
20%
2024

Economic freedom indices

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

Belize China
Economic freedom 64.7 48.3
Economic freedom ranking 71/197 170/197
Property rights 46.3 40.9
Government integrity 46.2 42.3
Judicial effectiveness 73.9 38.6
Tax burden 81.8 69.3
Government spending 81 67.8
Fiscal health 87.5 4.4
Business freedom 67.2 68.7
Labor freedom 57.6 57.9
Monetary freedom 72.6 76.1
Trade freedom 57.8 73.4
Investment freedom 55 20
Financial freedom 50 20

Economic freedom comparison by year

Belize
China
1x
Year Economic freedom index
Belize China
2026 64.7 48.3
2025 64.2 49
2024 61.2 48.5
2023 59.8 48.3
2022 56.6 48
2021 57.5 58.4
2020 57.4 59.5
2019 55.4 58.4
2018 57.1 57.8
2017 58.6 57.4
2016 57.4 52
2015 56.8 52.7
2014 56.7 52.5
2013 57.3 51.9
2012 61.9 51.2
2011 63.8 52
2010 61.5 51
2009 63 53.2
2008 63 53.1
2007 63.3 52
2006 64.7 53.6
2005 64.5 53.7
2004 62.8 52.5
2003 63.5 52.6
2002 65.6 52.8
2001 65.9 52.6
2000 63.3 56.4
1999 60.7 54.8
1998 59.1 53.1
1997 64.3 51.7
1996 61.6 51.3
1995 62.9 52

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

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

The Economic Freedom Index for Belize is 64.7, ranking 71/197, compared to 48.3 for China, ranking 170/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Belize China
Services, % of GDP
62.4%
2024
56.7%
2024
Industry, % of GDP
14.6%
2024
36.5%
2024
Agriculture, forestry, and fishing, % of GDP
7.95%
2024
6.78%
2024
GNI, Atlas method
$2.98B
2024
$19.3T
2024
GNI per capita, PPP
$13,760
2024
$26,920
2024
Total reserves including gold
$498M
2024
$3.46T
2024
Total reserves ranking
156/177
2024
1/177
2024
Net foreign direct investment
-$126M
2024
$154B
2024
Net inflows of foreign direct investment
$128M
2024
$18.6B
2024
Net outflows of foreign direct investment
$2.61M
2024
$172B
2024
Servicing debt to the IMF, % of GNI
4.15%
2024
1.89%
2024
Poverty at national poverty lines
52%
2018
0%
2020
Gross capital formation, % of GDP
19.8%
2024
40.6%
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/china | 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. 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 (1982–2000, retrieved 2026-02-20)
  6. TradeMap (2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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.