Skip to content

Economy of Belize vs Malta compared: GDP & Debt

Updated on by Georank

Belize has a GDP of $3.33B compared to $27.8B for Malta, ranking 170/197 and 118/197 by economy size, respectively.

Belize has $2.26B in government debt (67.9% of GDP), compared to $13B (46.8% of GDP) in Malta.

Belize vs Malta GDP by year

Belize
Malta
1x
Year GDP, current $
Belize Malta
2025 $3,326,500,000 $27,771,821,561
2024 $3,203,631,800 $25,042,712,191
2023 $3,052,362,650 $22,625,329,776
2022 $2,846,604,350 $18,938,869,147
2021 $2,428,606,250 $19,730,119,031
2020 $2,047,284,600 $16,404,655,808
2019 $2,381,187,850 $16,337,788,881
2018 $2,285,915,050 $16,153,785,817
2017 $2,266,028,250 $14,161,374,599
2016 $2,239,604,950 $12,025,777,078
2015 $2,193,095,150 $11,340,789,706
2014 $2,138,242,200 $11,888,029,752
2013 $2,035,191,450 $10,796,780,874
2012 $1,917,083,500 $9,609,530,619
2011 $1,831,576,700 $9,789,363,086
2010 $1,748,988,400 $9,097,044,301
2009 $1,688,012,750 $8,769,897,418
2008 $1,738,453,600 $9,172,399,573
2007 $1,706,190,450 $7,908,412,374
2006 $1,590,463,100 $6,749,838,862
2005 $1,474,298,400 $6,393,234,965
2004 $1,400,202,000 $6,104,141,501
2003 $1,308,280,250 $5,418,315,225
2002 $1,243,912,050 $4,455,127,398
2001 $1,172,045,150 $4,070,867,153
2000 $1,138,138,100 $4,036,809,767
1999 $999,713,050 $4,111,857,836
1998 $929,047,000 $4,010,111,652
1997 $872,916,050 $3,787,023,655
1996 $850,339,100 $3,822,547,151
1995 $818,590,250 $3,709,396,089
1994 $771,838,000 $2,998,505,428
1993 $752,255,150 $2,709,193,538
1992 $695,741,150 $3,021,942,759
1991 $596,682,100 $2,750,216,747
1990 $546,750,912 $2,547,328,748
1989 $491,100,000 $2,118,655,677
1988 $421,450,000 $2,019,503,068
1987 $371,100,000 $1,751,293,461
1986 $311,500,000 $1,435,038,441
1985 $287,300,000 $1,117,797,439
1984 $290,350,000 $1,101,807,023
1983 $262,150,000 $1,165,729,707
1982 $248,550,000 $1,234,474,404
1981 $260,750,000 $1,243,509,394
1980 $257,400,000 $1,250,198,601
1979 $151,800,000 $1,001,288,847
1978 $136,300,000 $793,673,402
1977 $117,650,000 $625,563,171
1976 $97,094,227 $527,936,989
1975 $118,194,026 $474,618,321
1974 $103,160,450 $376,081,124
1973 $78,214,768 $345,616,106
1972 $65,998,069 $295,106,628
1971 $59,074,687 $264,578,485
1970 $53,339,893 $250,728,796
1969 $47,399,905 -
1968 $44,999,910 -
1967 $47,431,256 -
1966 $44,450,044 -
1965 $40,110,040 -
1964 $36,194,586 -
1963 $33,750,114 -
1962 $31,857,592 -
1961 $29,965,000 -
1960 $28,072,478 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Belize vs Malta by year

Belize
GDP per capita

GDP per capita, PPP
Malta
GDP per capita

GDP per capita, PPP
1x
Year Current $
Belize Malta
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $7,865 - $47,907 -
2024 $7,681 $14,347 $44,024 $69,864
2023 $7,425 $13,730 $40,933 $67,057
2022 $7,068 $13,461 $35,659 $60,589
2021 $6,143 $11,716 $38,078 $56,852
2020 $5,239 $9,639 $31,823 $49,972
2019 $6,172 $10,500 $32,422 $51,393
2018 $6,012 $9,497 $33,382 $48,178
2017 $6,072 $9,121 $30,317 $45,764
2016 $6,141 $9,399 $26,459 $41,000
2015 $6,155 $9,538 $25,530 $38,369
2014 $6,128 $9,490 $27,425 $35,206
2013 $5,957 $9,526 $25,416 $33,138
2012 $5,733 $9,303 $22,878 $30,716
2011 $5,596 $9,722 $23,517 $29,426
2010 $5,461 $9,748 $21,947 $28,909
2009 $5,400 $9,728 $21,262 $26,782
2008 $5,712 $9,975 $22,406 $26,654
2007 $5,762 $10,226 $19,444 $25,012
2006 $5,525 $9,910 $16,654 $23,219
2005 $5,270 $9,466 $15,831 $22,227
2004 $5,154 $9,245 $15,212 $21,566
2003 $4,960 $8,850 $13,594 $20,813
2002 $4,859 $8,154 $11,251 $19,532
2001 $4,719 $7,852 $10,358 $18,435
2000 $4,727 $7,544 $10,348 $18,214
1999 $4,290 $6,790 $10,609 $16,898
1998 $4,126 $6,333 $10,408 $16,219
1997 $4,014 $6,243 $9,893 $15,465
1996 $4,043 $6,087 $10,062 $14,661
1995 $4,010 $6,091 $9,828 $13,950
1994 $3,877 $6,073 $8,000 $12,938
1993 $3,860 $6,075 $7,296 $12,103
1992 $3,643 $5,706 $8,220 $11,429
1991 $3,190 $5,053 $7,559 $10,784
1990 $2,986 $4,467 $7,192 $10,086
1989 $2,742 - $6,041 -
1988 $2,406 - $5,814 -
1987 $2,166 - $5,084 -
1986 $1,859 - $4,195 -
1985 $1,754 - $3,322 -
1984 $1,814 - $3,333 -
1983 $1,677 - $3,527 -
1982 $1,629 - $3,788 -
1981 $1,753 - $3,898 -
1980 $1,774 - $3,948 -
1979 $1,071 - $3,196 -
1978 $983 - $2,559 -
1977 $866 - $2,038 -
1976 $729 - $1,727 -
1975 $906 - $1,560 -
1974 $805 - $1,245 -
1973 $619 - $1,144 -
1972 $529 - $976 -
1971 $481 - $874 -
1970 $442 - $828 -
1969 $402 - - -
1968 $392 - - -
1967 $426 - - -
1966 $412 - - -
1965 $383 - - -
1964 $356 - - -
1963 $342 - - -
1962 $332 - - -
1961 $320 - - -
1960 $307 - - -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Belize's GDP per capita is $7,865, ranking 99/197, compared to $47,907 in Malta, ranking 28/197. Adjusted for purchasing power (GDP per capita PPP), Belize ranks 117th at $14,347, while Malta ranks 25th at $69,864.

Economic indicators

Belize Malta
Gross domestic product
$3.33B
2025
$27.8B
2025
GDP rank
170/197
2025
118/197
2025
GDP growth
2.75%
2024-2025
3.96%
2024-2025
GDP per capita
$7,865
2025
$47,907
2025
GDP per capita rank
99/197
2025
28/197
2025
GDP per capita, PPP
$14,347
2024
$69,864
2024
GDP per capita PPP rank
117/197
2024
25/197
2024
Government debt
$2.26B
2025
$13B
2025
Debt-to-GDP ratio
67.9%
2025
46.8%
2025
Government debt per person
$5,339
2025
$22,407
2025
Government debt per person rank
81/185
2025
30/185
2025
Average annual personal income after taxes
$5,278
2026
$22,914
2026
Market capitalization of domestic companies n/a
$5.35B
2025
Number of billionaires
1
2026
n/a
Income share by richest 10%
30%
2018
24.7%
2023
Income share by poorest 10%
2.2%
2018
2.8%
2023
Government expenditure, % of GDP
25.9%
2025
37%
2025
Consumer prices inflation
1.1%
2024-2025
2.36%
2024-2025
Unemployment rate
29.3%
2020
3.1%
2025
Population
431659
586345

Spending and national debt comparison by year

Belize
Spending

Debt
Malta
Spending

Debt
1x
Year % of GDP
Belize Malta
Government spending Government debt Government spending Government debt
2025 25.9% 67.9% 37% 46.8%
2024 26.8% 65.4% 37.4% 46%
2023 25.8% 67.5% 35.8% 46.8%
2022 23.4% 66.8% 38.4% 50.1%
2021 25.7% 82.2% 39.5% 49.6%
2020 33.2% 103% 42.1% 48.6%
2019 27.5% 78.6% 34.9% 39.2%
2018 26.9% 79% 34.5% 41.4%
2017 27.7% 78.1% 32.7% 45.6%
2016 27.7% 70.5% 35.5% 53.1%
2015 27.9% 65.1% 37.8% 55%
2014 24.8% 61.5% 39.6% 60.7%
2013 23.8% 62.8% 40.1% 64.9%
2012 22.1% 63.1% 41.7% 65.6%
2011 23.5% 66.2% 41.5% 68.9%
2010 23.3% 68.4% 40.1% 65%
2009 23.2% 69.7% 41.1% 66%
2008 21.8% 64.7% 42.1% 61.5%
2007 22.1% 66.4% 41.2% 62%
2006 21.2% 71.4% 42.5% 64.5%
2005 21.4% 72.7% 42.5% 70.2%
2004 21.7% 70.7% 42% 70.4%
2003 24.6% 67.2% 45.6% 68.6%
2002 24.4% 53.2% 43.6% 65.1%
2001 25.9% 49.5% 44.4% 70%
2000 23.2% 79% 42.9% 64.4%
1999 23.6% 41.5% - 69.8%
1998 20.9% 38.7% - 66.4%
1997 19.9% 39.4% - 60.8%
1996 19.9% 38.4% - 51.5%
1995 - - - 45.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1996–2000, retrieved 2026-07-08).

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

In 2025, Belize's government spending was $861M, accounting for 25.9% of its GDP, while Malta spent $10.3B, or 37% of GDP.

Debt-to-GDP ratio is 67.9% in Belize and 46.8% in Malta, ranking 61/185 and 113/185, respectively.

Government deficit by year

Deficit/surplus
Belize

Malta
1x
Year Deficit/surplus, % of GDP
Belize Malta
2025 -0.96% -3.1%
2024 -1.52% -3.51%
2023 -2.42% -4.43%
2022 -1.04% -5.33%
2021 -3.29% -6.96%
2020 -8.57% -8.71%
2019 -2.9% 0.72%
2018 -1.37% 1.86%
2017 -3.48% 3.4%
2016 -4.47% 1.1%
2015 -5.14% -0.84%
2014 -1.72% -1.49%
2013 -1.21% -2.19%
2012 -0.22% -3.31%
2011 -1.06% -2.99%
2010 -1.9% -2.22%
2009 -2.46% -3.11%
2008 1.25% -4.06%
2007 -0.19% -2.05%
2006 -2.27% -2.46%
2005 -3.7% -2.83%
2004 -4.52% -4.28%
2003 -8.41% -9.04%
2002 -5.41% -5.62%
2001 -7.23% -6.5%
2000 -6.68% -5.83%
1999 -6.51% -
1998 -2.69% -
1997 -1.81% -
1996 -1.76% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1996–2025, retrieved 2026-07-08).

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

In 2025, Belize's government deficit, the difference between spending and revenue, was $31.9M, equivalent to 0.96% of GDP. This compares to Malta's deficit of $861M, or 3.1% of GDP.

Over the past 26 years, Belize recorded a fiscal deficit in 25 of those years, while Malta ran a deficit in 22 years. On average, Belize posted an annual deficit equal to 3.11% of GDP, compared to deficit of 3.22% of GDP for Malta.

Inflation comparison by year

Inflation
Belize

Malta
1x
Year Consumer prices inflation
Belize Malta
2025 1.1% 2.36%
2024 3.3% 1.65%
2023 4.4% 5.09%
2022 6.3% 6.15%
2021 3.2% 1.5%
2020 0.1% 0.64%
2019 0.2% 1.64%
2018 0.3% 1.16%
2017 1.1% 1.36%
2016 0.7% 0.64%
2015 -0.9% 1.1%
2014 1.2% 0.31%
2013 0.5% 1.18%
2012 1.2% 2.38%
2011 1.7% 2.96%
2010 0.9% 1.52%
2009 -1.1% 2.08%
2008 6.4% 4.26%
2007 2.3% 1.25%
2006 4.2% 2.77%
2005 3.7% 3.01%
2004 3.1% 2.79%
2003 2.6% 1.3%
2002 2.2% 2.19%
2001 1.1% 2.93%
2000 0.6% 2.37%
1999 -1.2% 2.13%
1998 -0.8% 2.39%
1997 1% 3.11%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Belize has recorded an average annual inflation rate of 1.7%, compared with 2.22% in Malta. In 2025, inflation was 1.1% in Belize and 2.36% in Malta.

Top exports between countries

Belize
Export category Export value
Malta
Export category Export value
Wood & paper products $1.22M
Processed food, beverages & tobacco $80K
Chemicals & pharma $21K
Machinery & equipment $1K

Balance of trade

Belize Malta
Current account balance
-$92.3M
2025
$1.78B
2024
Current account balance ranking
80/190
2025
45/190
2024
Current account balance, % of GDP
-2.77%
2025
+7.1%
2024
Goods imports
$1.38B
2025
$7.56B
2024
Goods exports
$443M
2025
$4.58B
2024
Service imports
$352M
2025
$17.4B
2024
Service exports
$1.21B
2025
$25B
2024
Imports of goods and services, % of GDP
53.7%
2024
99.9%
2025
Exports of goods and services, % of GDP
55.2%
2024
119.1%
2025

Economic freedom indices

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

Belize Malta
Economic freedom 64.7 68.2
Economic freedom ranking 71/197 49/197
Property rights 46.3 85.5
Government integrity 46.2 54.3
Judicial effectiveness 73.9 80.2
Tax burden 81.8 68.5
Government spending 81 58.4
Fiscal health 87.5 63.2
Business freedom 67.2 83.2
Labor freedom 57.6 62.6
Monetary freedom 72.6 73.1
Trade freedom 57.8 79.4
Investment freedom 55 60
Financial freedom 50 50

Economic freedom comparison by year

Belize
Malta
1x
Year Economic freedom index
Belize Malta
2026 64.7 68.2
2025 64.2 66.8
2024 61.2 64.5
2023 59.8 67.5
2022 56.6 71.5
2021 57.5 70.2
2020 57.4 69.5
2019 55.4 68.6
2018 57.1 68.5
2017 58.6 67.7
2016 57.4 66.7
2015 56.8 66.5
2014 56.7 66.4
2013 57.3 67.5
2012 61.9 67
2011 63.8 65.7
2010 61.5 67.2
2009 63 66.1
2008 63 66
2007 63.3 66.1
2006 64.7 67.3
2005 64.5 68.9
2004 62.8 63.3
2003 63.5 61.1
2002 65.6 62.2
2001 65.9 62.9
2000 63.3 58.3
1999 60.7 59.3
1998 59.1 61.2
1997 64.3 57.9
1996 61.6 55.8
1995 62.9 56.3

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Belize is 64.7, ranking 71/197, compared to 68.2 for Malta, ranking 49/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Belize Malta
Services, % of GDP
62.4%
2024
81.3%
2025
Industry, % of GDP
14.6%
2024
10.1%
2025
Agriculture, forestry, and fishing, % of GDP
7.95%
2024
0.47%
2025
GNI, Atlas method
$3.19B
2025
$24B
2025
GNI per capita, PPP
$14,230
2025
$64,900
2025
Total reserves including gold
$559M
2025
$1.54B
2025
Total reserves ranking
156/177
2025
134/177
2025
Net foreign direct investment
$1.15M
2025
-$6.13B
2024
Net inflows of foreign direct investment
$128M
2024
$42.6B
2024
Net outflows of foreign direct investment
$2.61M
2024
$36.5B
2024
Servicing debt to the IMF, % of GNI
4.15%
2024
n/a
Poverty at national poverty lines
52%
2018
16.7%
2021
Gross capital formation, % of GDP
19.8%
2024
18.7%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1996–2000, retrieved 2026-07-08)
  6. TradeMap (2024–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.