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Economy of Belize vs Qatar compared: GDP & Debt

Updated on by Georank team

Belize has a GDP of $3.2B compared to $219B for Qatar, ranking 168/197 and 56/197 by economy size, respectively.

Belize has $2.1B in government debt (65.4% of GDP), compared to $90.2B (41.2% of GDP) in Qatar.

Belize vs Qatar GDP by year

Belize
Qatar
1x
Year GDP, current $
Belize Qatar
2024 $3,203,631,800 $219,162,637,363
2023 $3,052,362,650 $217,308,516,484
2022 $2,846,604,350 $235,709,340,659
2021 $2,428,606,250 $179,732,142,857
2020 $2,047,284,600 $144,411,538,462
2019 $2,381,187,850 $176,371,428,571
2018 $2,285,915,050 $183,335,164,835
2017 $2,266,028,250 $161,099,175,824
2016 $2,239,604,950 $151,732,142,857
2015 $2,193,095,150 $161,739,835,165
2014 $2,138,242,200 $206,224,725,275
2013 $2,035,191,450 $198,727,747,253
2012 $1,917,083,500 $186,833,516,484
2011 $1,831,576,700 $167,775,274,725
2010 $1,748,988,400 $123,627,197,802
2009 $1,688,012,750 $97,798,351,648
2008 $1,738,453,600 $115,270,054,945
2007 $1,706,190,450 $79,712,087,912
2006 $1,590,463,100 $60,882,142,857
2005 $1,474,298,400 $44,530,494,505
2004 $1,400,202,000 $31,734,065,934
2003 $1,308,280,250 $23,533,791,209
2002 $1,243,912,050 $19,363,736,264
2001 $1,172,045,150 $17,538,461,538
2000 $1,138,138,100 $17,759,890,110
1999 $999,713,050 $12,393,131,868
1998 $929,047,000 $10,255,495,027
1997 $872,916,050 $11,297,802,115
1996 $850,339,100 $9,059,340,385
1995 $818,590,250 $8,137,911,978
1994 $771,838,000 $7,374,450,769
1993 $752,255,150 $7,156,593,654
1992 $695,741,150 $7,646,153,984
1991 $596,682,100 $6,883,516,484
1990 $546,750,912 $7,360,439,423
1989 $491,100,000 $6,487,912,088
1988 $421,450,000 $6,038,187,033
1987 $371,100,000 $5,446,428,681
1986 $311,500,000 $5,053,021,951
1985 $287,300,000 $6,153,296,456
1984 $290,350,000 $6,704,395,824
1983 $262,150,000 $6,467,582,308
1982 $248,550,000 $7,596,703,214
1981 $260,750,000 $8,661,263,764
1980 $257,400,000 $7,829,165,262
1979 $151,800,000 $5,632,962,997
1978 $136,300,000 $4,052,000,413
1977 $117,650,000 $3,617,564,638
1976 $97,094,227 $3,284,273,987
1975 $118,194,026 $2,512,773,166
1974 $103,160,450 $2,401,403,227
1973 $78,214,768 $793,885,560
1972 $65,998,069 $510,262,500
1971 $59,074,687 $387,703,106
1970 $53,339,893 $301,791,302
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/qatar | CC BY

GDP per capita in Belize vs Qatar by year

Belize
GDP per capita

GDP per capita, PPP
Qatar
GDP per capita

GDP per capita, PPP
1x
Year Current $
Belize Qatar
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,681 $14,347 $76,689 $126,046
2023 $7,425 $13,730 $81,817 $129,368
2022 $7,068 $13,461 $88,701 $122,921
2021 $6,143 $11,716 $71,752 $116,833
2020 $5,239 $9,639 $51,684 $82,149
2019 $6,172 $10,500 $66,841 $107,503
2018 $6,012 $9,497 $71,040 $110,033
2017 $6,072 $9,121 $63,280 $99,358
2016 $6,141 $9,399 $61,254 $89,935
2015 $6,155 $9,538 $68,985 $102,546
2014 $6,128 $9,490 $95,841 $148,389
2013 $5,957 $9,526 $103,697 $169,203
2012 $5,733 $9,303 $108,470 $180,939
2011 $5,596 $9,722 $103,262 $174,620
2010 $5,461 $9,748 $76,463 $151,646
2009 $5,400 $9,728 $60,786 $125,898
2008 $5,712 $9,975 $80,781 $126,015
2007 $5,762 $10,226 $65,954 $124,056
2006 $5,525 $9,910 $62,582 $127,181
2005 $5,270 $9,466 $53,950 $115,250
2004 $5,154 $9,245 $41,036 $110,958
2003 $4,960 $8,850 $31,602 $94,120
2002 $4,859 $8,154 $27,227 $93,177
2001 $4,719 $7,852 $25,871 $89,805
2000 $4,727 $7,544 $27,535 $88,849
1999 $4,290 $6,790 $20,234 $84,690
1998 $4,126 $6,333 $17,665 $84,486
1997 $4,014 $6,243 $20,523 $79,219
1996 $4,043 $6,087 $17,125 $62,331
1995 $4,010 $6,091 $15,823 $60,321
1994 $3,877 $6,073 $14,765 $59,415
1993 $3,860 $6,075 $14,770 $59,125
1992 $3,643 $5,706 $16,280 $60,387
1991 $3,190 $5,053 $15,133 $54,759
1990 $2,986 $4,467 $16,722 $55,659
1989 $2,742 - $15,243 -
1988 $2,406 - $14,682 -
1987 $2,166 - $13,719 -
1986 $1,859 - $13,213 -
1985 $1,754 - $16,815 -
1984 $1,814 - $19,272 -
1983 $1,677 - $19,616 -
1982 $1,629 - $24,385 -
1981 $1,753 - $29,505 -
1980 $1,774 - $28,375 -
1979 $1,071 - $21,777 -
1978 $983 - $16,757 -
1977 $866 - $16,058 -
1976 $729 - $15,710 -
1975 $906 - $13,014 -
1974 $805 - $13,540 -
1973 $619 - $4,905 -
1972 $529 - $3,483 -
1971 $481 - $2,952 -
1970 $442 - $2,594 -
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/qatar | CC BY

Belize's GDP per capita is $7,681, ranking 98/197, compared to $76,689 in Qatar, ranking 11/197. Adjusted for purchasing power (GDP per capita PPP), Belize ranks 117th at $14,347, while Qatar ranks 5th at $126,046.

Economic indicators

Belize Qatar
Gross domestic product
$3.2B
2024
$219B
2024
GDP rank
168/197
2024
56/197
2024
GDP growth
3.5%
2023-2024
2.36%
2023-2024
GDP per capita
$7,681
2024
$76,689
2024
GDP per capita rank
98/197
2024
11/197
2024
GDP per capita, PPP
$14,347
2024
$126,046
2024
GDP per capita PPP rank
117/197
2024
5/197
2024
Government debt
$2.1B
2024
$90.2B
2024
Debt-to-GDP ratio
65.4%
2024
41.2%
2024
Government debt per person
$5,026
2024
$31,579
2024
Government debt per person rank
78/185
2024
23/185
2024
Average annual personal income after taxes
$9,204
2026
$35,660
2026
Market capitalization of domestic companies n/a
$170M
2024
Number of millionaires n/a
26,163
2025
Number of billionaires
1
2025
2
2025
Income share by richest 10%
30%
2018
25.8%
2017
Income share by poorest 10%
2.2%
2018
2.6%
2017
Government expenditure, % of GDP
26.3%
2024
26%
2024
Consumer prices inflation
3.3%
2023-2024
1.27%
2023-2024
Central bank interest rate n/a
4.1%
2025
Unemployment rate
29.3%
2020
0.13%
2022
Population
430409
2999260

Spending and national debt comparison by year

Belize
Spending

Debt
Qatar
Spending

Debt
1x
Year % of GDP
Belize Qatar
Government spending Government debt Government spending Government debt
2024 26.3% 65.4% 26% 41.2%
2023 25.8% 67.5% 27.3% 43.7%
2022 23.4% 66.8% 24.3% 42.6%
2021 25.7% 82.2% 29.4% 58.4%
2020 33.2% 103% 34.7% 72.6%
2019 27.5% 78.6% 32.5% 62.1%
2018 26.9% 79% 28.9% 52.2%
2017 27.7% 78.1% 34.7% 51.6%
2016 27.7% 70.5% 40.1% 46.7%
2015 27.9% 65.1% 38.6% 35.5%
2014 24.8% 61.5% 32.3% 24.9%
2013 23.8% 62.8% 28.3% 30.9%
2012 22.1% 63.1% 31% 32.1%
2011 23.5% 66.2% 28.5% 33.5%
2010 23.3% 68.4% 32% 30.4%
2009 23.2% 69.7% 36.4% 36%
2008 21.8% 64.7% 23.5% 11.4%
2007 22.1% 66.4% 29.5% 9.37%
2006 21.2% 71.4% 29.5% 13.9%
2005 21.4% 72.7% 29% 19.1%
2004 21.7% 70.7% 29.9% 30.1%
2003 24.6% 67.2% 28.5% 38.8%
2002 24.4% 53.2% 31.6% 47.7%
2001 25.9% 49.5% 32.1% 59.2%
2000 23.2% 79% 29.8% 51.6%
1999 23.6% 41.5% 42.4% 81.8%
1998 20.9% 38.7% 55.1% 76.6%
1997 19.9% 39.4% 47.6% 54.4%
1996 19.9% 38.4% 55.2% 57.8%
1995 - - 52.2% 50.2%
1994 - - 59.8% 54.8%
1993 - - 62.8% 46.3%
1992 - - 54.2% 19.9%
1991 - - 57.5% 21.8%
1990 - - 50% 12.6%

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/qatar | CC BY

In 2024, Belize's government spending was $842M, accounting for 26.3% of its GDP, while Qatar spent $56.9B, or 26% of GDP.

Debt-to-GDP ratio is 65.4% in Belize and 41.2% in Qatar, ranking 67/185 and 130/185, respectively.

Government deficit by year

Deficit/surplus
Belize

Qatar
1x
Year Deficit/surplus, % of GDP
Belize Qatar
2024 -1.23% 0.69%
2023 -2.42% 5.56%
2022 -1.04% 10.4%
2021 -3.29% 0.24%
2020 -8.57% -2.13%
2019 -2.9% 1%
2018 -1.37% 2.26%
2017 -3.48% -6.82%
2016 -4.47% -9.2%
2015 -5.14% 18.4%
2014 -1.72% 13.4%
2013 -1.21% 19.3%
2012 -0.22% 8.55%
2011 -1.06% 5.24%
2010 -1.9% 4.6%
2009 -2.46% 14.1%
2008 1.25% 9.49%
2007 -0.19% 10.3%
2006 -2.27% 8.39%
2005 -3.7% 9.8%
2004 -4.52% 17.7%
2003 -8.41% 6.71%
2002 -5.41% 7.89%
2001 -7.23% 4.48%
2000 -6.68% 4.62%
1999 -6.51% -4.35%
1998 -2.69% -7%
1997 -1.81% -9.4%
1996 -1.76% -8.73%
1995 - -5.78%
1994 - -11.8%
1993 - -9.53%
1992 - -2.74%
1991 - -2.57%
1990 - 3.23%

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

GeoRank.org/economy/belize/qatar | 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 Qatar's surplus of $1.52B, or 0.69% of GDP.

Over the past 29 years, Belize recorded a fiscal deficit in 28 of those years, while Qatar ran a deficit in 7 years. On average, Belize posted an annual deficit equal to 3.19% of GDP, compared to surplus of 4.67% of GDP for Qatar.

Inflation comparison by year

Inflation
Belize

Qatar
1x
Year Consumer prices inflation
Belize Qatar
2024 3.3% 1.27%
2023 4.4% 3.03%
2022 6.3% 5%
2021 3.2% 2.3%
2020 0.1% -2.54%
2019 0.2% -0.67%
2018 0.3% 0.26%
2017 1.1% 0.39%
2016 0.7% 2.68%
2015 -0.9% 1.81%
2014 1.2% 3.35%
2013 0.5% 3.22%
2012 1.2% 2.32%
2011 1.7% 1.14%
2010 0.9% -2.43%
2009 -1.1% -4.86%
2008 6.4% 15.1%
2007 2.3% 13.8%
2006 4.2% 11.8%
2005 3.7% 8.81%
2004 3.1% 6.8%
2003 2.6% 2.26%
2002 2.2% 0.24%
2001 1.1% 1.47%
2000 0.6% 1.65%
1999 -1.2% 2.18%
1998 -0.8% 2.95%
1997 1% 4.83%

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/qatar | CC BY

Over the past 28 years, Belize has recorded an average annual inflation rate of 1.73%, compared with 3.15% in Qatar. In 2024, inflation was 3.3% in Belize and 1.27% in Qatar.

Top exports between countries

Belize
Export category Export value
Raw agricultural goods $27K
Qatar
Export category Export value
Raw materials & minerals $25.8M

Balance of trade

Belize Qatar
Current account balance
-$51.7M
2024
$37.9B
2024
Current account balance ranking
84/190
2024
16/190
2024
Current account balance, % of GDP
-1.61%
2024
+17.3%
2024
Goods imports
$1.36B
2024
$32.6B
2024
Goods exports
$482M
2024
$95B
2024
Service imports
$362M
2024
$37.1B
2024
Service exports
$1.16B
2024
$30.2B
2024
Imports of goods and services, % of GDP
53.7%
2024
31.6%
2022
Exports of goods and services, % of GDP
55.2%
2024
68.6%
2022

Economic freedom indices

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

Belize Qatar
Economic freedom 64.7 70.2
Economic freedom ranking 71/197 37/197
Property rights 46.3 66.2
Government integrity 46.2 53.5
Judicial effectiveness 73.9 41.5
Tax burden 81.8 99.9
Government spending 81 79.9
Fiscal health 87.5 96.6
Business freedom 67.2 68
Labor freedom 57.6 58.5
Monetary freedom 72.6 76
Trade freedom 57.8 81.8
Investment freedom 55 60
Financial freedom 50 60

Economic freedom comparison by year

Belize
Qatar
1x
Year Economic freedom index
Belize Qatar
2026 64.7 70.2
2025 64.2 70.2
2024 61.2 68.8
2023 59.8 68.6
2022 56.6 67.7
2021 57.5 72
2020 57.4 72.3
2019 55.4 72.6
2018 57.1 72.6
2017 58.6 73.1
2016 57.4 70.7
2015 56.8 70.8
2014 56.7 71.2
2013 57.3 71.3
2012 61.9 71.3
2011 63.8 70.5
2010 61.5 69
2009 63 65.8
2008 63 62.2
2007 63.3 62.9
2006 64.7 62.4
2005 64.5 63.5
2004 62.8 66.5
2003 63.5 65.9
2002 65.6 61.9
2001 65.9 60
2000 63.3 62
1999 60.7 62
1998 59.1 -
1997 64.3 -
1996 61.6 -
1995 62.9 -

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

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

The Economic Freedom Index for Belize is 64.7, ranking 71/197, compared to 70.2 for Qatar, ranking 37/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Belize Qatar
Services, % of GDP
62.4%
2024
46.1%
2024
Industry, % of GDP
14.6%
2024
58.2%
2024
Agriculture, forestry, and fishing, % of GDP
7.95%
2024
0.29%
2024
GNI, Atlas method
$2.98B
2024
$221B
2024
GNI per capita, PPP
$13,760
2024
$121,900
2024
Total reserves including gold
$498M
2024
$54B
2024
Total reserves ranking
156/177
2024
40/177
2024
Net foreign direct investment
-$126M
2024
$1.1B
2024
Net inflows of foreign direct investment
$128M
2024
$460M
2024
Net outflows of foreign direct investment
$2.61M
2024
$1.56B
2024
Servicing debt to the IMF, % of GNI
4.15%
2024
n/a
Poverty at national poverty lines
52%
2018
n/a
Gross capital formation, % of GDP
19.8%
2024
30.6%
2022

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/qatar | 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. TradeMap (2022, 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.