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Economy of Belize vs Mozambique compared: GDP & Debt

Updated on by Georank team

Belize has a GDP of $3.2B compared to $22.7B for Mozambique, ranking 168/197 and 123/197 by economy size, respectively.

Belize has $2.1B in government debt (65.4% of GDP), compared to $21.2B (93.2% of GDP) in Mozambique.

Belize vs Mozambique GDP by year

Belize
Mozambique
1x
Year GDP, current $
Belize Mozambique
2024 $3,203,631,800 $22,745,341,305
2023 $3,052,362,650 $20,921,079,533
2022 $2,846,604,350 $18,883,528,581
2021 $2,428,606,250 $16,168,055,475
2020 $2,047,284,600 $14,235,420,174
2019 $2,381,187,850 $15,512,759,047
2018 $2,285,915,050 $15,017,358,953
2017 $2,266,028,250 $13,264,640,646
2016 $2,239,604,950 $12,069,051,237
2015 $2,193,095,150 $16,208,985,770
2014 $2,138,242,200 $17,978,246,586
2013 $2,035,191,450 $17,198,073,057
2012 $1,917,083,500 $16,688,114,144
2011 $1,831,576,700 $14,619,279,989
2010 $1,748,988,400 $11,411,894,724
2009 $1,688,012,750 $12,263,894,790
2008 $1,738,453,600 $12,920,340,965
2007 $1,706,190,450 $10,811,456,006
2006 $1,590,463,100 $9,509,835,537
2005 $1,474,298,400 $8,868,504,900
2004 $1,400,202,000 $7,937,255,565
2003 $1,308,280,250 $6,583,526,861
2002 $1,243,912,050 $5,950,769,427
2001 $1,172,045,150 $5,650,154,067
2000 $1,138,138,100 $5,930,685,215
1999 $999,713,050 $6,285,219,691
1998 $929,047,000 $5,551,118,149
1997 $872,916,050 $4,873,663,775
1996 $850,339,100 $4,030,146,135
1995 $818,590,250 $3,061,646,174
1994 $771,838,000 $2,958,108,170
1993 $752,255,150 $2,883,161,897
1992 $695,741,150 $2,798,696,511
1991 $596,682,100 $3,854,856,435
1990 $546,750,912 -
1989 $491,100,000 -
1988 $421,450,000 -
1987 $371,100,000 -
1986 $311,500,000 -
1985 $287,300,000 -
1984 $290,350,000 -
1983 $262,150,000 -
1982 $248,550,000 -
1981 $260,750,000 -
1980 $257,400,000 -
1979 $151,800,000 -
1978 $136,300,000 -
1977 $117,650,000 -
1976 $97,094,227 -
1975 $118,194,026 -
1974 $103,160,450 -
1973 $78,214,768 -
1972 $65,998,069 -
1971 $59,074,687 -
1970 $53,339,893 -
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 (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Belize vs Mozambique by year

Belize
GDP per capita

GDP per capita, PPP
Mozambique
GDP per capita

GDP per capita, PPP
1x
Year Current $
Belize Mozambique
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,681 $14,347 $657 $1,705
2023 $7,425 $13,730 $622 $1,678
2022 $7,068 $13,461 $578 $1,582
2021 $6,143 $11,716 $510 $1,457
2020 $5,239 $9,639 $462 $1,412
2019 $6,172 $10,500 $519 $1,389
2018 $6,012 $9,497 $518 $1,326
2017 $6,072 $9,121 $471 $1,283
2016 $6,141 $9,399 $441 $1,379
2015 $6,155 $9,538 $611 $1,318
2014 $6,128 $9,490 $697 $1,166
2013 $5,957 $9,526 $687 $1,114
2012 $5,733 $9,303 $686 $1,076
2011 $5,596 $9,722 $618 $1,064
2010 $5,461 $9,748 $496 $1,000
2009 $5,400 $9,728 $548 $951
2008 $5,712 $9,975 $592 $916
2007 $5,762 $10,226 $508 $862
2006 $5,525 $9,910 $457 $798
2005 $5,270 $9,466 $437 $721
2004 $5,154 $9,245 $400 $673
2003 $4,960 $8,850 $339 $620
2002 $4,859 $8,154 $314 $580
2001 $4,719 $7,852 $305 $533
2000 $4,727 $7,544 $327 $472
1999 $4,290 $6,790 $354 $468
1998 $4,126 $6,333 $320 $422
1997 $4,014 $6,243 $287.5 $387
1996 $4,043 $6,087 $244.4 $350
1995 $4,010 $6,091 $191.8 $321
1994 $3,877 $6,073 $196.8 $326
1993 $3,860 $6,075 $205.2 $321
1992 $3,643 $5,706 $205.6 $292
1991 $3,190 $5,053 $288.7 $315
1990 $2,986 $4,467 - $296
1989 $2,742 - - -
1988 $2,406 - - -
1987 $2,166 - - -
1986 $1,859 - - -
1985 $1,754 - - -
1984 $1,814 - - -
1983 $1,677 - - -
1982 $1,629 - - -
1981 $1,753 - - -
1980 $1,774 - - -
1979 $1,071 - - -
1978 $983 - - -
1977 $866 - - -
1976 $729 - - -
1975 $906 - - -
1974 $805 - - -
1973 $619 - - -
1972 $529 - - -
1971 $481 - - -
1970 $442 - - -
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 (1960–2024, retrieved 2026-04-06).

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

Belize's GDP per capita is $7,681, ranking 98/197, compared to $657 in Mozambique, ranking 189/197. Adjusted for purchasing power (GDP per capita PPP), Belize ranks 117th at $14,347, while Mozambique ranks 192nd at $1,705.

Economic indicators

Belize Mozambique
Gross domestic product
$3.2B
2024
$22.7B
2024
GDP rank
168/197
2024
123/197
2024
GDP growth
3.5%
2023-2024
2.15%
2023-2024
GDP per capita
$7,681
2024
$657
2024
GDP per capita rank
98/197
2024
189/197
2024
GDP per capita, PPP
$14,347
2024
$1,705
2024
GDP per capita PPP rank
117/197
2024
192/197
2024
Government debt
$2.1B
2024
$21.2B
2024
Debt-to-GDP ratio
65.4%
2024
93.2%
2024
Government debt per person
$5,026
2024
$612
2024
Government debt per person rank
78/185
2024
159/185
2024
Average annual personal income after taxes
$9,204
2026
$1,778
2026
Number of billionaires
1
2025
n/a
Income share by richest 10%
30%
2018
40.8%
2022
Income share by poorest 10%
2.2%
2018
1.7%
2022
Government expenditure, % of GDP
26.3%
2024
33.2%
2024
Consumer prices inflation
3.3%
2023-2024
3.2%
2023-2024
Central bank interest rate n/a
9.75%
2025
Unemployment rate
29.3%
2020
6.79%
2022
Population
430409
36941128

Spending and national debt comparison by year

Belize
Spending

Debt
Mozambique
Spending

Debt
1x
Year % of GDP
Belize Mozambique
Government spending Government debt Government spending Government debt
2024 26.3% 65.4% 33.2% 93.2%
2023 25.8% 67.5% 33.3% 90.9%
2022 23.4% 66.8% 32.9% 100.3%
2021 25.7% 82.2% 32.1% 104.3%
2020 33.2% 103% 33.9% 120%
2019 27.5% 78.6% 28% 98.3%
2018 26.9% 79% 32.9% 105.5%
2017 27.7% 78.1% 29.5% 103.8%
2016 27.7% 70.5% 29.1% 124.8%
2015 27.9% 65.1% 32.2% 86%
2014 24.8% 61.5% 39.7% 63.4%
2013 23.8% 62.8% 31.7% 49.5%
2012 22.1% 63.1% 28.1% 36.7%
2011 23.5% 66.2% 28.9% 34.2%
2010 23.3% 68.4% 26.7% 38.6%
2009 23.2% 69.7% 25.7% 39.3%
2008 21.8% 64.7% 21.3% 32.8%
2007 22.1% 66.4% 20.9% 31.2%
2006 21.2% 71.4% 20.1% 40%
2005 21.4% 72.7% 17% 60.1%
2004 21.7% 70.7% 17.8% 50.8%
2003 24.6% 67.2% 18.6% 63.2%
2002 24.4% 53.2% 18.6% 63.4%
2001 25.9% 49.5% 20.8% 99.8%
2000 23.2% 79% 17.2% 95.8%
1999 23.6% 41.5% 15.6% 94.7%
1998 20.9% 38.7% 14.9% -
1997 19.9% 39.4% 16.5% -
1996 19.9% 38.4% 14.9% -
1995 - - 18.8% -
1994 - - 22.9% -
1993 - - 20.7% -
1992 - - 21.1% -
1991 - - 17.3% -
1990 - - 21% -
1989 - - 27% -
1988 - - 27% -
1987 - - 22.9% -
1986 - - 24.2% -
1985 - - 21% -
1984 - - 30.9% -
1983 - - 35.3% -
1982 - - 27% -
1981 - - 23.8% -
1980 - - 14.2% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–2000, retrieved 2026-02-20).

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

In 2024, Belize's government spending was $842M, accounting for 26.3% of its GDP, while Mozambique spent $7.56B, or 33.2% of GDP.

Debt-to-GDP ratio is 65.4% in Belize and 93.2% in Mozambique, ranking 67/185 and 28/185, respectively.

Government deficit by year

Deficit/surplus
Belize

Mozambique
1x
Year Deficit/surplus, % of GDP
Belize Mozambique
2024 -1.23% -6.17%
2023 -2.42% -4.26%
2022 -1.04% -5.22%
2021 -3.29% -5.23%
2020 -8.57% -6.19%
2019 -2.9% 1.7%
2018 -1.37% -7.39%
2017 -3.48% -2.9%
2016 -4.47% -5.42%
2015 -5.14% -6.55%
2014 -1.72% -9.75%
2013 -1.21% -2.46%
2012 -0.22% -3.45%
2011 -1.06% -4.34%
2010 -1.9% -3.5%
2009 -2.46% -4.35%
2008 1.25% -1.9%
2007 -0.19% -2.19%
2006 -2.27% -3.03%
2005 -3.7% -2.06%
2004 -4.52% -3.17%
2003 -8.41% -2.64%
2002 -5.41% -3.36%
2001 -7.23% -4.43%
2000 -6.68% -1.26%
1999 -6.51% -0.31%
1998 -2.69% -1.08%
1997 -1.81% -1.81%
1996 -1.76% -2.07%
1995 - -2.46%
1994 - -4%
1993 - -2.53%
1992 - -1.85%
1991 - -2.01%
1990 - -4.42%
1989 - -4.23%
1988 - -6.47%
1987 - -7.24%
1986 - -12.1%
1985 - -9.69%
1984 - -13.4%
1983 - -15.8%
1982 - -3.61%
1981 - -7.41%
1980 - -1.47%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20).

GeoRank.org/economy/belize/mozambique | 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 Mozambique's deficit of $1.4B, or 6.17% of GDP.

Over the past 29 years, Belize recorded a fiscal deficit in 28 of those years, while Mozambique ran a deficit in 28 years. On average, Belize posted an annual deficit equal to 3.19% of GDP, compared to deficit of 3.61% of GDP for Mozambique.

Inflation comparison by year

Inflation
Belize

Mozambique
1x
Year Consumer prices inflation
Belize Mozambique
2024 3.3% 3.2%
2023 4.4% 7%
2022 6.3% 10.4%
2021 3.2% 6.6%
2020 0.1% 0.9%
2019 0.2% 5.7%
2018 0.3% 3.2%
2017 1.1% 15.8%
2016 0.7% 18.4%
2015 -0.9% 3.6%
2014 1.2% 2.6%
2013 0.5% 4.3%
2012 1.2% 2.6%
2011 1.7% 11.2%
2010 0.9% 12.4%
2009 -1.1% 3.8%
2008 6.4% 14.5%
2007 2.3% 10.4%
2006 4.2% 13.2%
2005 3.7% 6.4%
2004 3.1% 12.6%
2003 2.6% 13.5%
2002 2.2% 16.8%
2001 1.1% 9.1%
2000 0.6% 12.7%
1999 -1.2% 2.9%
1998 -0.8% 1.5%
1997 1% 7.4%

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

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

Over the past 28 years, Belize has recorded an average annual inflation rate of 1.73%, compared with 8.31% in Mozambique. In 2024, inflation was 3.3% in Belize and 3.2% in Mozambique.

Balance of trade

Belize Mozambique
Current account balance
-$51.7M
2024
-$2.49B
2024
Current account balance ranking
84/190
2024
150/190
2024
Current account balance, % of GDP
-1.61%
2024
-11%
2024
Goods imports
$1.36B
2024
$8.38B
2024
Goods exports
$482M
2024
$8.21B
2024
Service imports
$362M
2024
$2.11B
2024
Service exports
$1.16B
2024
$1.15B
2024
Imports of goods and services, % of GDP
53.7%
2024
52.8%
2024
Exports of goods and services, % of GDP
55.2%
2024
42.8%
2024

Economic freedom indices

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

Belize Mozambique
Economic freedom 64.7 49.6
Economic freedom ranking 71/197 164/197
Property rights 46.3 29.7
Government integrity 46.2 25.1
Judicial effectiveness 73.9 43.4
Tax burden 81.8 75.8
Government spending 81 67
Fiscal health 87.5 39.1
Business freedom 67.2 40.2
Labor freedom 57.6 47.7
Monetary freedom 72.6 76.2
Trade freedom 57.8 71.2
Investment freedom 55 40
Financial freedom 50 40

Economic freedom comparison by year

Belize
Mozambique
1x
Year Economic freedom index
Belize Mozambique
2026 64.7 49.6
2025 64.2 50.7
2024 61.2 50.7
2023 59.8 52.5
2022 56.6 51.3
2021 57.5 51.6
2020 57.4 50.5
2019 55.4 48.6
2018 57.1 46.3
2017 58.6 49.9
2016 57.4 53.2
2015 56.8 54.8
2014 56.7 55
2013 57.3 55
2012 61.9 57.1
2011 63.8 56.8
2010 61.5 56
2009 63 55.7
2008 63 55.4
2007 63.3 54.7
2006 64.7 51.9
2005 64.5 54.6
2004 62.8 57.2
2003 63.5 58.6
2002 65.6 57.7
2001 65.9 59.2
2000 63.3 52.2
1999 60.7 48.9
1998 59.1 43
1997 64.3 44
1996 61.6 48.4
1995 62.9 45.5

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

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

The Economic Freedom Index for Belize is 64.7, ranking 71/197, compared to 49.6 for Mozambique, ranking 164/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Belize Mozambique
Services, % of GDP
62.4%
2024
41.1%
2024
Industry, % of GDP
14.6%
2024
21.9%
2024
Agriculture, forestry, and fishing, % of GDP
7.95%
2024
25.2%
2024
GNI, Atlas method
$2.98B
2024
$19.1B
2024
GNI per capita, PPP
$13,760
2024
$1,520
2024
Total reserves including gold
$498M
2024
$3.84B
2024
Total reserves ranking
156/177
2024
108/177
2024
Net foreign direct investment
-$126M
2024
-$3.55B
2024
Net inflows of foreign direct investment
$128M
2024
$3.51B
2024
Net outflows of foreign direct investment
$2.61M
2024
-$44.1M
2024
Servicing debt to the IMF, % of GNI
4.15%
2024
22.4%
2024
Poverty at national poverty lines
52%
2018
65%
2022
Gross capital formation, % of GDP
19.8%
2024
17.7%
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/mozambique | 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 (1980–2000, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. 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.