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Economy of Belize vs Guyana compared: GDP & Debt

Updated on by Georank team

Belize has a GDP of $3.2B compared to $24.7B for Guyana, ranking 168/197 and 120/197 by economy size, respectively.

Belize has $2.1B in government debt (65.4% of GDP), compared to $5.99B (24.3% of GDP) in Guyana.

Belize vs Guyana GDP by year

Belize
Guyana
1x
Year GDP, current $
Belize Guyana
2024 $3,203,631,800 $24,662,709,832
2023 $3,052,362,650 $16,918,503,597
2022 $2,846,604,350 $14,718,388,489
2021 $2,428,606,250 $8,041,362,110
2020 $2,047,284,600 $5,471,256,595
2019 $2,381,187,850 $5,173,760,192
2018 $2,285,915,050 $4,787,636,998
2017 $2,266,028,250 $4,748,174,334
2016 $2,239,604,950 $4,482,697,337
2015 $2,193,095,150 $4,279,840,194
2014 $2,138,242,200 $4,127,660,152
2013 $2,035,191,450 $4,167,800,929
2012 $1,917,083,500 $4,063,088,536
2011 $1,831,576,700 $3,691,384,318
2010 $1,748,988,400 $3,432,912,517
2009 $1,688,012,750 $3,165,663,153
2008 $1,738,453,600 $3,025,187,433
2007 $1,706,190,450 $2,730,971,595
2006 $1,590,463,100 $2,379,817,991
2005 $1,474,298,400 $824,880,550
2004 $1,400,202,000 $787,814,379
2003 $1,308,280,250 $743,063,950
2002 $1,243,912,050 $726,131,435
2001 $1,172,045,150 $712,167,450
2000 $1,138,138,100 $712,667,897
1999 $999,713,050 $694,754,988
1998 $929,047,000 $717,530,683
1997 $872,916,050 $749,138,010
1996 $850,339,100 $705,406,001
1995 $818,590,250 $621,626,786
1994 $771,838,000 $540,874,934
1993 $752,255,150 $454,101,382
1992 $695,741,150 $373,573,141
1991 $596,682,100 $348,533,095
1990 $546,750,912 $396,582,263
1989 $491,100,000 $379,779,390
1988 $421,450,000 $413,799,990
1987 $371,100,000 $354,591,847
1986 $311,500,000 $504,651,140
1985 $287,300,000 $453,488,372
1984 $290,350,000 $437,631,605
1983 $262,150,000 $489,333,333
1982 $248,550,000 $482,000,000
1981 $260,750,000 $570,357,107
1980 $257,400,000 $603,200,000
1979 $151,800,000 $530,440,000
1978 $136,300,000 $507,080,000
1977 $117,650,000 $449,880,000
1976 $97,094,227 $454,440,000
1975 $118,194,026 $494,791,667
1974 $103,160,450 $433,954,545
1973 $78,214,768 $307,047,619
1972 $65,998,069 $285,380,952
1971 $59,074,687 $282,050,000
1970 $53,339,893 $267,800,000
1969 $47,399,905 $249,300,000
1968 $44,999,910 $229,750,000
1967 $47,431,256 $250,176,471
1966 $44,450,044 $228,705,882
1965 $40,110,040 $213,235,294
1964 $36,194,586 $194,774,513
1963 $33,750,114 $175,757,894
1962 $31,857,592 $194,949,513
1961 $29,965,000 $185,849,535
1960 $28,072,478 $170,216,241

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

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

GDP per capita in Belize vs Guyana by year

Belize
GDP per capita

GDP per capita, PPP
Guyana
GDP per capita

GDP per capita, PPP
1x
Year Current $
Belize Guyana
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,681 $14,347 $29,675 $80,155
2023 $7,425 $13,730 $20,474 $54,729
2022 $7,068 $13,461 $17,913 $39,711
2021 $6,143 $11,716 $9,861 $22,866
2020 $5,239 $9,639 $6,776 $16,819
2019 $6,172 $10,500 $6,406 $13,241
2018 $6,012 $9,497 $6,048 $12,443
2017 $6,072 $9,121 $6,179 $12,243
2016 $6,141 $9,399 $5,871 $11,516
2015 $6,155 $9,538 $5,640 $11,408
2014 $6,128 $9,490 $5,473 $11,145
2013 $5,957 $9,526 $5,557 $11,200
2012 $5,733 $9,303 $5,444 $10,627
2011 $5,596 $9,722 $4,947 $10,066
2010 $5,461 $9,748 $4,582 $9,337
2009 $5,400 $9,728 $4,209 $8,824
2008 $5,712 $9,975 $4,009 $8,437
2007 $5,762 $10,226 $3,608 $8,110
2006 $5,525 $9,910 $3,136 $7,346
2005 $5,270 $9,466 $1,084 $6,761
2004 $5,154 $9,245 $1,033 $6,673
2003 $4,960 $8,850 $974 $6,392
2002 $4,859 $8,154 $951 $6,304
2001 $4,719 $7,852 $932 $6,131
2000 $4,727 $7,544 $932 $5,860
1999 $4,290 $6,790 $909 $5,812
1998 $4,126 $6,333 $940 $5,573
1997 $4,014 $6,243 $983 $5,615
1996 $4,043 $6,087 $928 $5,210
1995 $4,010 $6,091 $820 $4,753
1994 $3,877 $6,073 $716 $4,447
1993 $3,860 $6,075 $603 $4,027
1992 $3,643 $5,706 $498 $3,651
1991 $3,190 $5,053 $466 $3,322
1990 $2,986 $4,467 $529 $3,022
1989 $2,742 - $503 -
1988 $2,406 - $545 -
1987 $2,166 - $464 -
1986 $1,859 - $657 -
1985 $1,754 - $588 -
1984 $1,814 - $565 -
1983 $1,677 - $631 -
1982 $1,629 - $621 -
1981 $1,753 - $735 -
1980 $1,774 - $779 -
1979 $1,071 - $689 -
1978 $983 - $663 -
1977 $866 - $593 -
1976 $729 - $604 -
1975 $906 - $664 -
1974 $805 - $588 -
1973 $619 - $421 -
1972 $529 - $395 -
1971 $481 - $396 -
1970 $442 - $381 -
1969 $402 - $361 -
1968 $392 - $340 -
1967 $426 - $378 -
1966 $412 - $353 -
1965 $383 - $336 -
1964 $356 - $313 -
1963 $342 - $288.8 -
1962 $332 - $327 -
1961 $320 - $319 -
1960 $307 - $299.1 -

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

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

Belize's GDP per capita is $7,681, ranking 98/197, compared to $29,675 in Guyana, ranking 41/197. Adjusted for purchasing power (GDP per capita PPP), Belize ranks 117th at $14,347, while Guyana ranks 15th at $80,155.

Economic indicators

Belize Guyana
Gross domestic product
$3.2B
2024
$24.7B
2024
GDP rank
168/197
2024
120/197
2024
GDP growth
3.5%
2023-2024
43.8%
2023-2024
GDP per capita
$7,681
2024
$29,675
2024
GDP per capita rank
98/197
2024
41/197
2024
GDP per capita, PPP
$14,347
2024
$80,155
2024
GDP per capita PPP rank
117/197
2024
15/197
2024
Government debt
$2.1B
2024
$5.99B
2024
Debt-to-GDP ratio
65.4%
2024
24.3%
2024
Government debt per person
$5,026
2024
$7,213
2024
Government debt per person rank
78/185
2024
66/185
2024
Average annual personal income after taxes
$9,204
2026
$13,212
2026
Number of billionaires
1
2025
n/a
Income share by richest 10%
30%
2018
34.4%
1998
Income share by poorest 10%
2.2%
2018
1.1%
1998
Government expenditure, % of GDP
26.3%
2024
23.2%
2024
Consumer prices inflation
3.3%
2023-2024
2.5%
2023-2024
Unemployment rate
29.3%
2020
13.2%
2019
Population
430409
842249

Spending and national debt comparison by year

Belize
Spending

Debt
Guyana
Spending

Debt
1x
Year % of GDP
Belize Guyana
Government spending Government debt Government spending Government debt
2024 26.3% 65.4% 23.2% 24.3%
2023 25.8% 67.5% 23.7% 26.7%
2022 23.4% 66.8% 20.3% 24.8%
2021 25.7% 82.2% 24.8% 45.7%
2020 33.2% 103% 30.5% 59.5%
2019 27.5% 78.6% 28.1% 54%
2018 26.9% 79% 27.6% 47.9%
2017 27.7% 78.1% 26.3% 46.1%
2016 27.7% 70.5% 25.2% 44%
2015 27.9% 65.1% 21.7% 42.2%
2014 24.8% 61.5% 23.1% 38.7%
2013 23.8% 62.8% 21.4% 41.4%
2012 22.1% 63.1% 21.8% 44.7%
2011 23.5% 66.2% 23.5% 51.7%
2010 23.3% 68.4% 23.9% 53.1%
2009 23.2% 69.7% 25.4% 52.3%
2008 21.8% 64.7% 24.1% 48.2%
2007 22.1% 66.4% 25.5% 47.7%
2006 21.2% 71.4% 29% 74.5%
2005 21.4% 72.7% 28.4% 90.7%
2004 21.7% 70.7% 23.7% 91.8%
2003 24.6% 67.2% 23.5% 95.6%
2002 24.4% 53.2% 23.1% 105.1%
2001 25.9% 49.5% 24% 104.6%
2000 23.2% 79% 22.9% 97.2%
1999 23.6% 41.5% 17.6% 97.1%
1998 20.9% 38.7% 19.7% 108%
1997 19.9% 39.4% 20.9% 101.3%
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/guyana | CC BY

In 2024, Belize's government spending was $842M, accounting for 26.3% of its GDP, while Guyana spent $5.72B, or 23.2% of GDP.

Debt-to-GDP ratio is 65.4% in Belize and 24.3% in Guyana, ranking 67/185 and 168/185, respectively.

Government deficit by year

Deficit/surplus
Belize

Guyana
1x
Year Deficit/surplus, % of GDP
Belize Guyana
2024 -1.23% -7.31%
2023 -2.42% -5.78%
2022 -1.04% -5.11%
2021 -3.29% -6.94%
2020 -8.57% -7.78%
2019 -2.9% -2.52%
2018 -1.37% -2.52%
2017 -3.48% -3.14%
2016 -4.47% -3.21%
2015 -5.14% -0.75%
2014 -1.72% -3.88%
2013 -1.21% -2.16%
2012 -0.22% -3.11%
2011 -1.06% -2.13%
2010 -1.9% -1.88%
2009 -2.46% -2.5%
2008 1.25% -2.78%
2007 -0.19% -3.35%
2006 -2.27% -6.16%
2005 -3.7% -6.54%
2004 -4.52% -2.88%
2003 -8.41% -4.81%
2002 -5.41% -2.42%
2001 -7.23% -3.71%
2000 -6.68% -2.27%
1999 -6.51% -0.47%
1998 -2.69% -2.67%
1997 -1.81% -1.7%
1996 -1.76% -

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

GeoRank.org/economy/belize/guyana | 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 Guyana's deficit of $1.8B, or 7.31% of GDP.

Over the past 28 years, Belize recorded a fiscal deficit in 27 of those years, while Guyana ran a deficit in 28 years. On average, Belize posted an annual deficit equal to 3.24% of GDP, compared to deficit of 3.59% of GDP for Guyana.

Inflation comparison by year

Inflation
Belize

Guyana
1x
Year Consumer prices inflation
Belize Guyana
2024 3.3% 2.5%
2023 4.4% 4.5%
2022 6.3% 6.5%
2021 3.2% 3.3%
2020 0.1% 1.2%
2019 0.2% 2.1%
2018 0.3% 1.3%
2017 1.1% 1.9%
2016 0.7% 0.8%
2015 -0.9% -0.9%
2014 1.2% 0.7%
2013 0.5% 1.9%
2012 1.2% 2.4%
2011 1.7% 4.4%
2010 0.9% 4.3%
2009 -1.1% 3%
2008 6.4% 8.1%
2007 2.3% 12.2%
2006 4.2% 6.7%
2005 3.7% 6.9%
2004 3.1% 4.7%
2003 2.6% 6%
2002 2.2% 5.4%
2001 1.1% 2.6%
2000 0.6% 6.1%
1999 -1.2% 7.5%
1998 -0.8% 4.6%
1997 1% 3.6%

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

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

Over the past 28 years, Belize has recorded an average annual inflation rate of 1.73%, compared with 4.08% in Guyana. In 2024, inflation was 3.3% in Belize and 2.5% in Guyana.

Top exports between countries

Belize
Export category Export value
Processed food, beverages & tobacco $2.46M
Raw agricultural goods $1.07M
Wood & paper products $369K
Machinery & equipment $16K
Miscellaneous $3K
Guyana
Export category Export value
Wood & paper products $676K
Processed food, beverages & tobacco $55K
Chemicals & pharma $16K
Textiles & consumer goods $2K
Machinery & equipment $1K

Balance of trade

Belize Guyana
Current account balance
-$51.7M
2024
$2.35B
2023
Current account balance ranking
84/190
2024
43/190
2023
Current account balance, % of GDP
-1.61%
2024
+13.9%
2023
Goods imports
$1.36B
2024
$6B
2023
Goods exports
$482M
2024
$13.2B
2023
Service imports
$362M
2024
$4.95B
2023
Service exports
$1.16B
2024
$529M
2023
Imports of goods and services, % of GDP
53.7%
2024
109.7%
2005
Exports of goods and services, % of GDP
55.2%
2024
84.6%
2005

Economic freedom indices

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

Belize Guyana
Economic freedom 64.7 58.7
Economic freedom ranking 71/197 109/197
Property rights 46.3 46.7
Government integrity 46.2 38.8
Judicial effectiveness 73.9 48.6
Tax burden 81.8 76.4
Government spending 81 85
Fiscal health 87.5 39.9
Business freedom 67.2 70.9
Labor freedom 57.6 76
Monetary freedom 72.6 78.5
Trade freedom 57.8 59.2
Investment freedom 55 55
Financial freedom 50 30

Economic freedom comparison by year

Belize
Guyana
1x
Year Economic freedom index
Belize Guyana
2026 64.7 58.7
2025 64.2 58.2
2024 61.2 57.3
2023 59.8 56.9
2022 56.6 59.5
2021 57.5 57.4
2020 57.4 56.2
2019 55.4 56.8
2018 57.1 58.7
2017 58.6 58.5
2016 57.4 55.4
2015 56.8 55.5
2014 56.7 55.7
2013 57.3 53.8
2012 61.9 51.3
2011 63.8 49.4
2010 61.5 48.4
2009 63 48.4
2008 63 48.8
2007 63.3 53.7
2006 64.7 56.6
2005 64.5 56.5
2004 62.8 53
2003 63.5 50.3
2002 65.6 54.3
2001 65.9 53.3
2000 63.3 52.4
1999 60.7 53.3
1998 59.1 52.7
1997 64.3 53.2
1996 61.6 50.1
1995 62.9 45.7

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

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

The Economic Freedom Index for Belize is 64.7, ranking 71/197, compared to 58.7 for Guyana, ranking 109/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Belize Guyana
Services, % of GDP
62.4%
2024
14.5%
2024
Industry, % of GDP
14.6%
2024
76%
2024
Agriculture, forestry, and fishing, % of GDP
7.95%
2024
7.62%
2024
GNI, Atlas method
$2.98B
2024
$16.7B
2024
GNI per capita, PPP
$13,760
2024
$52,290
2024
Total reserves including gold
$498M
2024
$1.01B
2024
Total reserves ranking
156/177
2024
141/177
2024
Net foreign direct investment
-$126M
2024
$1.14B
2023
Net inflows of foreign direct investment
$128M
2024
$8.63B
2024
Net outflows of foreign direct investment
$2.61M
2024
$5.7M
2024
Servicing debt to the IMF, % of GNI
4.15%
2024
3.73%
2024
Poverty at national poverty lines
52%
2018
35%
2020
Gross capital formation, % of GDP
19.8%
2024
32.3%
2005

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/guyana | 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. TradeMap (2022–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1996–2000, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.