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Economy of Belize vs Gabon compared: GDP & Debt

Updated on by Georank team

Belize has a GDP of $3.2B compared to $20.9B for Gabon, ranking 168/197 and 127/197 by economy size, respectively.

Belize has $2.1B in government debt (65.4% of GDP), compared to $15.2B (72.7% of GDP) in Gabon.

Belize vs Gabon GDP by year

Belize
Gabon
1x
Year GDP, current $
Belize Gabon
2024 $3,203,631,800 $20,895,684,426
2023 $3,052,362,650 $19,388,372,071
2022 $2,846,604,350 $20,440,655,695
2021 $2,428,606,250 $19,444,935,097
2020 $2,047,284,600 $15,342,236,164
2019 $2,381,187,850 $16,874,405,465
2018 $2,285,915,050 $16,867,326,402
2017 $2,266,028,250 $14,929,487,485
2016 $2,239,604,950 $14,023,890,265
2015 $2,193,095,150 $14,383,107,763
2014 $2,138,242,200 $18,203,966,896
2013 $2,035,191,450 $17,595,744,798
2012 $1,917,083,500 $17,170,464,016
2011 $1,831,576,700 $18,210,307,744
2010 $1,748,988,400 $14,372,593,020
2009 $1,688,012,750 $12,113,699,068
2008 $1,738,453,600 $15,571,348,344
2007 $1,706,190,450 $12,455,409,587
2006 $1,590,463,100 $10,327,598,306
2005 $1,474,298,400 $9,582,783,991
2004 $1,400,202,000 $7,770,219,008
2003 $1,308,280,250 $6,511,903,365
2002 $1,243,912,050 $5,335,451,100
2001 $1,172,045,150 $5,023,265,413
2000 $1,138,138,100 $5,080,483,629
1999 $999,713,050 $4,662,992,036
1998 $929,047,000 $4,483,417,310
1997 $872,916,050 $5,326,817,115
1996 $850,339,100 $5,694,040,003
1995 $818,590,250 $4,958,845,648
1994 $771,838,000 $4,190,819,344
1993 $752,255,150 $4,378,645,081
1992 $695,741,150 $5,592,390,827
1991 $596,682,100 $5,402,919,785
1990 $546,750,912 $5,952,293,765
1989 $491,100,000 $4,186,411,464
1988 $421,450,000 $3,834,503,376
1987 $371,100,000 $3,281,797,043
1986 $311,500,000 $3,403,638,189
1985 $287,300,000 $3,339,914,757
1984 $290,350,000 $3,561,451,561
1983 $262,150,000 $3,391,275,732
1982 $248,550,000 $3,618,007,841
1981 $260,750,000 $3,862,269,121
1980 $257,400,000 $4,279,637,942
1979 $151,800,000 $3,030,251,120
1978 $136,300,000 $2,389,479,272
1977 $117,650,000 $2,809,349,069
1976 $97,094,227 $3,009,409,974
1975 $118,194,026 $2,157,592,940
1974 $103,160,450 $1,544,216,002
1973 $78,214,768 $722,780,701
1972 $65,998,069 $430,508,359
1971 $59,074,687 $381,687,073
1970 $53,339,893 $323,802,476
1969 $47,399,905 $318,124,701
1968 $44,999,910 $294,468,564
1967 $47,431,256 $271,543,680
1966 $44,450,044 $245,849,781
1965 $40,110,040 $226,474,286
1964 $36,194,586 $215,679,855
1963 $33,750,114 $154,480,244
1962 $31,857,592 $182,796,536
1961 $29,965,000 $167,637,907
1960 $28,072,478 $141,468,978

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

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

GDP per capita in Belize vs Gabon by year

Belize
GDP per capita

GDP per capita, PPP
Gabon
GDP per capita

GDP per capita, PPP
1x
Year Current $
Belize Gabon
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,681 $14,347 $8,230 $21,510
2023 $7,425 $13,730 $7,803 $20,756
2022 $7,068 $13,461 $8,409 $19,993
2021 $6,143 $11,716 $8,181 $18,524
2020 $5,239 $9,639 $6,606 $14,477
2019 $6,172 $10,500 $7,441 $15,950
2018 $6,012 $9,497 $7,624 $15,432
2017 $6,072 $9,121 $6,922 $14,797
2016 $6,141 $9,399 $6,677 $13,998
2015 $6,155 $9,538 $7,047 $14,306
2014 $6,128 $9,490 $9,201 $14,854
2013 $5,957 $9,526 $9,198 $14,498
2012 $5,733 $9,303 $9,297 $14,620
2011 $5,596 $9,722 $10,219 $14,784
2010 $5,461 $9,748 $8,357 $14,015
2009 $5,400 $9,728 $7,291 $13,384
2008 $5,712 $9,975 $9,689 $13,734
2007 $5,762 $10,226 $8,004 $14,391
2006 $5,525 $9,910 $6,847 $13,637
2005 $5,270 $9,466 $6,548 $14,028
2004 $5,154 $9,245 $5,466 $13,638
2003 $4,960 $8,850 $4,711 $13,564
2002 $4,859 $8,154 $3,966 $13,369
2001 $4,719 $7,852 $3,836 $13,556
2000 $4,727 $7,544 $3,983 $13,326
1999 $4,290 $6,790 $3,751 $13,629
1998 $4,126 $6,333 $3,700 $15,138
1997 $4,014 $6,243 $4,509 $14,837
1996 $4,043 $6,087 $4,943 $14,147
1995 $4,010 $6,091 $4,415 $13,750
1994 $3,877 $6,073 $3,828 $13,164
1993 $3,860 $6,075 $4,106 $12,757
1992 $3,643 $5,706 $5,386 $12,312
1991 $3,190 $5,053 $5,345 $12,760
1990 $2,986 $4,467 $6,051 $11,952
1989 $2,742 - $4,374 -
1988 $2,406 - $4,119 -
1987 $2,166 - $3,624 -
1986 $1,859 - $3,865 -
1985 $1,754 - $3,898 -
1984 $1,814 - $4,273 -
1983 $1,677 - $4,182 -
1982 $1,629 - $4,584 -
1981 $1,753 - $5,026 -
1980 $1,774 - $5,718 -
1979 $1,071 - $4,155 -
1978 $983 - $3,360 -
1977 $866 - $4,048 -
1976 $729 - $4,441 -
1975 $906 - $3,258 -
1974 $805 - $2,384 -
1973 $619 - $1,140 -
1972 $529 - $693 -
1971 $481 - $627 -
1970 $442 - $543 -
1969 $402 - $545 -
1968 $392 - $515 -
1967 $426 - $482 -
1966 $412 - $443 -
1965 $383 - $415 -
1964 $356 - $400 -
1963 $342 - $290.7 -
1962 $332 - $348 -
1961 $320 - $323 -
1960 $307 - $276.1 -

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

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

Belize's GDP per capita is $7,681, ranking 98/197, compared to $8,230 in Gabon, ranking 93/197. Adjusted for purchasing power (GDP per capita PPP), Belize ranks 117th at $14,347, while Gabon ranks 90th at $21,510.

Economic indicators

Belize Gabon
Gross domestic product
$3.2B
2024
$20.9B
2024
GDP rank
168/197
2024
127/197
2024
GDP growth
3.5%
2023-2024
3.39%
2023-2024
GDP per capita
$7,681
2024
$8,230
2024
GDP per capita rank
98/197
2024
93/197
2024
GDP per capita, PPP
$14,347
2024
$21,510
2024
GDP per capita PPP rank
117/197
2024
90/197
2024
Government debt
$2.1B
2024
$15.2B
2024
Debt-to-GDP ratio
65.4%
2024
72.7%
2024
Government debt per person
$5,026
2024
$5,985
2024
Government debt per person rank
78/185
2024
75/185
2024
Average annual personal income after taxes
$9,204
2026
$5,368
2026
Number of billionaires
1
2025
n/a
Income share by richest 10%
30%
2018
27.7%
2017
Income share by poorest 10%
2.2%
2018
2.2%
2017
Government expenditure, % of GDP
26.3%
2024
24.8%
2024
Consumer prices inflation
3.3%
2023-2024
1.17%
2023-2024
Unemployment rate
29.3%
2020
20.4%
2010
Population
430409
2663339

Spending and national debt comparison by year

Belize
Spending

Debt
Gabon
Spending

Debt
1x
Year % of GDP
Belize Gabon
Government spending Government debt Government spending Government debt
2024 26.3% 65.4% 24.8% 72.7%
2023 25.8% 67.5% 21.5% 70.6%
2022 23.4% 66.8% 19.7% 65.6%
2021 25.7% 82.2% 17.3% 72.9%
2020 33.2% 103% 19.8% 83%
2019 27.5% 78.6% 17.4% 59.8%
2018 26.9% 79% 17.1% 62.3%
2017 27.7% 78.1% 18.1% 62.9%
2016 27.7% 70.5% 21.8% 64.5%
2015 27.9% 65.1% 22.3% 44.7%
2014 24.8% 61.5% 23.8% 34.1%
2013 23.8% 62.8% 34.7% 31.1%
2012 22.1% 63.1% 23.9% 21.4%
2011 23.5% 66.2% 22.1% 21.4%
2010 23.3% 68.4% 23.1% 21.3%
2009 23.2% 69.7% 22.6% 26%
2008 21.8% 64.7% 18.9% 20.1%
2007 22.1% 66.4% 19.4% 39.2%
2006 21.2% 71.4% 21.1% 34.9%
2005 21.4% 72.7% 20.8% 41.7%
2004 21.7% 70.7% 20.9% 60.3%
2003 24.6% 67.2% 21.2% 70.2%
2002 24.4% 53.2% 25.7% 81.1%
2001 25.9% 49.5% 27.8% 81%
2000 23.2% 79% 20.3% 72.5%
1999 23.6% 41.5% 25.5% 73.1%
1998 20.9% 38.7% 45.5% 87.6%
1997 19.9% 39.4% 29.7% 57%
1996 19.9% 38.4% 22.2% 64.5%
1995 - - 25.1% 73.4%
1994 - - 23.9% 71.3%
1993 - - 26.9% 90.1%
1992 - - 26.5% 87.9%
1991 - - 25.1% 89.3%
1990 - - 22.6% 90%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1996–2000, retrieved 2026-02-20).

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

In 2024, Belize's government spending was $842M, accounting for 26.3% of its GDP, while Gabon spent $5.18B, or 24.8% of GDP.

Debt-to-GDP ratio is 65.4% in Belize and 72.7% in Gabon, ranking 67/185 and 51/185, respectively.

Government deficit by year

Deficit/surplus
Belize

Gabon
1x
Year Deficit/surplus, % of GDP
Belize Gabon
2024 -1.23% -3.84%
2023 -2.42% 1.79%
2022 -1.04% -0.89%
2021 -3.29% -1.93%
2020 -8.57% -2.19%
2019 -2.9% 2.13%
2018 -1.37% -0.21%
2017 -3.48% -1.7%
2016 -4.47% -4.71%
2015 -5.14% -1.12%
2014 -1.72% 5.98%
2013 -1.21% -3.07%
2012 -0.22% 6.2%
2011 -1.06% 1.41%
2010 -1.9% 2.7%
2009 -2.46% 6.77%
2008 1.25% 11%
2007 -0.19% 8.06%
2006 -2.27% 8.67%
2005 -3.7% 7.98%
2004 -4.52% 6.99%
2003 -8.41% 7.75%
2002 -5.41% 3.72%
2001 -7.23% 4.07%
2000 -6.68% 11.1%
1999 -6.51% 1.11%
1998 -2.69% -13.1%
1997 -1.81% 1.41%
1996 -1.76% 2.12%
1995 - 2.64%
1994 - -1.53%
1993 - -5.35%
1992 - -4.9%
1991 - -2.03%
1990 - -3.83%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/belize/gabon | 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 Gabon's deficit of $802M, or 3.84% of GDP.

Over the past 29 years, Belize recorded a fiscal deficit in 28 of those years, while Gabon ran a deficit in 10 years. On average, Belize posted an annual deficit equal to 3.19% of GDP, compared to surplus of 2.35% of GDP for Gabon.

Inflation comparison by year

Inflation
Belize

Gabon
1x
Year Consumer prices inflation
Belize Gabon
2024 3.3% 1.17%
2023 4.4% 3.63%
2022 6.3% 4.23%
2021 3.2% 1.09%
2020 0.1% 1.35%
2019 0.2% 2.46%
2018 0.3% 4.75%
2017 1.1% 2.65%
2016 0.7% 2.11%
2015 -0.9% -0.34%
2014 1.2% 4.69%
2013 0.5% 0.51%
2012 1.2% 2.65%
2011 1.7% 1.26%
2010 0.9% 1.46%
2009 -1.1% 1.89%
2008 6.4% 5.26%
2007 2.3% 5.03%
2006 4.2% -1.41%
2005 3.7% 3.71%
2004 3.1% 0.41%
2003 2.6% 2.24%
2002 2.2% 0.04%
2001 1.1% 2.14%
2000 0.6% 0.5%
1999 -1.2% -1.94%
1998 -0.8% 1.45%
1997 1% 3.97%

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/gabon | CC BY

Over the past 28 years, Belize has recorded an average annual inflation rate of 1.73%, compared with 2.03% in Gabon. In 2024, inflation was 3.3% in Belize and 1.17% in Gabon.

Top exports between countries

Belize
Export category Export value
Processed food, beverages & tobacco $26K
Gabon
Export category Export value

Balance of trade

Belize Gabon
Current account balance
-$51.7M
2024
$141M
2015
Current account balance ranking
84/190
2024
66/190
2015
Current account balance, % of GDP
-1.61%
2024
+0.98%
2015
Goods imports
$1.36B
2024
$3.17B
2015
Goods exports
$482M
2024
$5.11B
2015
Service imports
$362M
2024
$1.88B
2015
Service exports
$1.16B
2024
$277M
2015
Imports of goods and services, % of GDP
53.7%
2024
27.5%
2024
Exports of goods and services, % of GDP
55.2%
2024
64.6%
2024

Economic freedom indices

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

Belize Gabon
Economic freedom 64.7 56.6
Economic freedom ranking 71/197 120/197
Property rights 46.3 30
Government integrity 46.2 22.6
Judicial effectiveness 73.9 19.9
Tax burden 81.8 76.5
Government spending 81 85.5
Fiscal health 87.5 87.9
Business freedom 67.2 63.6
Labor freedom 57.6 55.4
Monetary freedom 72.6 80.9
Trade freedom 57.8 57.4
Investment freedom 55 60
Financial freedom 50 40

Economic freedom comparison by year

Belize
Gabon
1x
Year Economic freedom index
Belize Gabon
2026 64.7 56.6
2025 64.2 56.3
2024 61.2 56.9
2023 59.8 56.1
2022 56.6 55.8
2021 57.5 58.1
2020 57.4 56.7
2019 55.4 56.3
2018 57.1 58
2017 58.6 58.6
2016 57.4 59
2015 56.8 58.3
2014 56.7 57.8
2013 57.3 57.8
2012 61.9 56.4
2011 63.8 56.7
2010 61.5 55.4
2009 63 55
2008 63 54.2
2007 63.3 54.8
2006 64.7 56.1
2005 64.5 54.8
2004 62.8 57.1
2003 63.5 58.7
2002 65.6 58
2001 65.9 55
2000 63.3 58.2
1999 60.7 60.5
1998 59.1 59.2
1997 64.3 58.8
1996 61.6 55.7
1995 62.9 57.5

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

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

The Economic Freedom Index for Belize is 64.7, ranking 71/197, compared to 56.6 for Gabon, ranking 120/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Belize Gabon
Services, % of GDP
62.4%
2024
36.8%
2024
Industry, % of GDP
14.6%
2024
52.9%
2024
Agriculture, forestry, and fishing, % of GDP
7.95%
2024
6.56%
2024
GNI, Atlas method
$2.98B
2024
$19.8B
2024
GNI per capita, PPP
$13,760
2024
$20,400
2024
Total reserves including gold
$498M
2024
$1.45B
2023
Total reserves ranking
156/177
2024
136/177
2023
Net foreign direct investment
-$126M
2024
-$25.3M
2015
Net inflows of foreign direct investment
$128M
2024
$1.14B
2024
Net outflows of foreign direct investment
$2.61M
2024
-$33.8M
2019
Servicing debt to the IMF, % of GNI
4.15%
2024
5.67%
2024
Poverty at national poverty lines
52%
2018
33.4%
2017
Gross capital formation, % of GDP
19.8%
2024
19.1%
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/gabon | 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 (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 (2021, 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.