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Economy of Belize vs Sri Lanka compared: GDP & Debt

Updated on by Georank team

Belize has a GDP of $3.2B compared to $99B for Sri Lanka, ranking 168/197 and 72/197 by economy size, respectively.

Belize has $2.1B in government debt (65.4% of GDP), compared to $99.8B (100.8% of GDP) in Sri Lanka.

Belize vs Sri Lanka GDP by year

Belize
Sri Lanka
1x
Year GDP, current $
Belize Sri Lanka
2024 $3,203,631,800 $98,963,185,510
2023 $3,052,362,650 $83,716,142,582
2022 $2,846,604,350 $74,143,020,263
2021 $2,428,606,250 $88,556,698,938
2020 $2,047,284,600 $84,335,574,582
2019 $2,381,187,850 $88,998,706,297
2018 $2,285,915,050 $94,450,015,983
2017 $2,266,028,250 $94,369,350,286
2016 $2,239,604,950 $88,000,211,172
2015 $2,193,095,150 $85,090,301,052
2014 $2,138,242,200 $82,531,125,191
2013 $2,035,191,450 $76,976,203,829
2012 $1,917,083,500 $70,447,217,164
2011 $1,831,576,700 $67,753,285,897
2010 $1,748,988,400 $58,636,049,434
2009 $1,688,012,750 $42,066,224,093
2008 $1,738,453,600 $40,713,826,215
2007 $1,706,190,450 $32,350,238,760
2006 $1,590,463,100 $28,267,410,543
2005 $1,474,298,400 $24,405,791,045
2004 $1,400,202,000 $20,662,525,941
2003 $1,308,280,250 $18,881,765,437
2002 $1,243,912,050 $16,536,535,647
2001 $1,172,045,150 $15,749,753,805
2000 $1,138,138,100 $16,595,882,819
1999 $999,713,050 $15,711,933,513
1998 $929,047,000 $15,760,736,956
1997 $872,916,050 $15,091,913,884
1996 $850,339,100 $13,897,738,375
1995 $818,590,250 $13,029,697,561
1994 $771,838,000 $11,717,604,209
1993 $752,255,150 $10,338,679,636
1992 $695,741,150 $9,703,011,636
1991 $596,682,100 $9,000,362,582
1990 $546,750,912 $8,032,551,173
1989 $491,100,000 $6,987,267,684
1988 $421,450,000 $6,978,371,581
1987 $371,100,000 $6,682,167,120
1986 $311,500,000 $6,405,210,564
1985 $287,300,000 $5,978,460,972
1984 $290,350,000 $6,043,474,843
1983 $262,150,000 $5,167,913,302
1982 $248,550,000 $4,768,765,017
1981 $260,750,000 $4,415,844,156
1980 $257,400,000 $4,024,621,900
1979 $151,800,000 $3,364,611,432
1978 $136,300,000 $2,733,183,857
1977 $117,650,000 $4,104,509,583
1976 $97,094,227 $3,591,319,857
1975 $118,194,026 $3,791,298,146
1974 $103,160,450 $3,574,586,466
1973 $78,214,768 $2,875,625,000
1972 $65,998,069 $2,553,936,348
1971 $59,074,687 $2,369,308,600
1970 $53,339,893 $2,296,470,588
1969 $47,399,905 $1,965,546,218
1968 $44,999,910 $1,801,344,538
1967 $47,431,256 $1,859,465,021
1966 $44,450,044 $1,751,470,588
1965 $40,110,040 $1,698,319,328
1964 $36,194,586 $1,309,747,899
1963 $33,750,114 $1,240,672,269
1962 $31,857,592 $1,434,156,379
1961 $29,965,000 $1,444,327,731
1960 $28,072,478 $1,409,873,950

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

GeoRank.org/economy/belize/sri-lanka | CC BY

GDP per capita in Belize vs Sri Lanka by year

Belize
GDP per capita

GDP per capita, PPP
Sri Lanka
GDP per capita

GDP per capita, PPP
1x
Year Current $
Belize Sri Lanka
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,681 $14,347 $4,516 $15,633
2023 $7,425 $13,730 $3,799 $14,456
2022 $7,068 $13,461 $3,343 $14,194
2021 $6,143 $11,716 $3,997 $14,316
2020 $5,239 $9,639 $3,848 $12,941
2019 $6,172 $10,500 $4,082 $14,113
2018 $6,012 $9,497 $4,359 $14,178
2017 $6,072 $9,121 $4,399 $13,610
2016 $6,141 $9,399 $4,149 $13,079
2015 $6,155 $9,538 $4,058 $12,227
2014 $6,128 $9,490 $3,972 $11,721
2013 $5,957 $9,526 $3,739 $11,253
2012 $5,733 $9,303 $3,328 $10,249
2011 $5,596 $9,722 $3,225 $9,076
2010 $5,461 $9,748 $2,808 $8,234
2009 $5,400 $9,728 $2,027 $7,576
2008 $5,712 $9,975 $1,974 $7,317
2007 $5,762 $10,226 $1,579 $6,820
2006 $5,525 $9,910 $1,389 $6,261
2005 $5,270 $9,466 $1,207 $5,679
2004 $5,154 $9,245 $1,029 $5,216
2003 $4,960 $8,850 $946 $4,850
2002 $4,859 $8,154 $835 $4,522
2001 $4,719 $7,852 $804 $4,328
2000 $4,727 $7,544 $860 $4,368
1999 $4,290 $6,790 $829 $4,103
1998 $4,126 $6,333 $848 $3,952
1997 $4,014 $6,243 $827 $3,804
1996 $4,043 $6,087 $776 $3,582
1995 $4,010 $6,091 $742 $3,454
1994 $3,877 $6,073 $678 $3,260
1993 $3,860 $6,075 $607 $3,067
1992 $3,643 $5,706 $580 $2,851
1991 $3,190 $5,053 $546 $2,713
1990 $2,986 $4,467 $491 $2,527
1989 $2,742 - $430 -
1988 $2,406 - $434 -
1987 $2,166 - $420 -
1986 $1,859 - $407 -
1985 $1,754 - $385 -
1984 $1,814 - $391 -
1983 $1,677 - $336 -
1982 $1,629 - $312 -
1981 $1,753 - $292.5 -
1980 $1,774 - $271.1 -
1979 $1,071 - $230.8 -
1978 $983 - $191 -
1977 $866 - $292.1 -
1976 $729 - $260.3 -
1975 $906 - $279.8 -
1974 $805 - $268.7 -
1973 $619 - $220.2 -
1972 $529 - $199.4 -
1971 $481 - $188.8 -
1970 $442 - $186.9 -
1969 $402 - $163.6 -
1968 $392 - $153.5 -
1967 $426 - $162.3 -
1966 $412 - $156.6 -
1965 $383 - $155.6 -
1964 $356 - $122.9 -
1963 $342 - $119.4 -
1962 $332 - $141.4 -
1961 $320 - $145.9 -
1960 $307 - $145.9 -

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

GeoRank.org/economy/belize/sri-lanka | CC BY

Belize's GDP per capita is $7,681, ranking 98/197, compared to $4,516 in Sri Lanka, ranking 124/197. Adjusted for purchasing power (GDP per capita PPP), Belize ranks 117th at $14,347, while Sri Lanka ranks 111th at $15,633.

Economic indicators

Belize Sri Lanka
Gross domestic product
$3.2B
2024
$99B
2024
GDP rank
168/197
2024
72/197
2024
GDP growth
3.5%
2023-2024
5.01%
2023-2024
GDP per capita
$7,681
2024
$4,516
2024
GDP per capita rank
98/197
2024
124/197
2024
GDP per capita, PPP
$14,347
2024
$15,633
2024
GDP per capita PPP rank
117/197
2024
111/197
2024
Government debt
$2.1B
2024
$99.8B
2024
Debt-to-GDP ratio
65.4%
2024
100.8%
2024
Government debt per person
$5,026
2024
$4,554
2024
Government debt per person rank
78/185
2024
85/185
2024
Average annual personal income after taxes
$9,204
2026
$2,874
2026
Market capitalization of domestic companies n/a
$19.5B
2024
Number of billionaires
1
2025
n/a
Income share by richest 10%
30%
2018
30.8%
2019
Income share by poorest 10%
2.2%
2018
3.1%
2019
Government expenditure, % of GDP
26.3%
2024
19.3%
2024
Consumer prices inflation
3.3%
2023-2024
-0.43%
2023-2024
Central bank interest rate n/a
7.75%
2025
Unemployment rate
29.3%
2020
4.67%
2023
Population
430409
22185425

Spending and national debt comparison by year

Belize
Spending

Debt
Sri Lanka
Spending

Debt
1x
Year % of GDP
Belize Sri Lanka
Government spending Government debt Government spending Government debt
2024 26.3% 65.4% 19.3% 100.8%
2023 25.8% 67.5% 19.5% 110.4%
2022 23.4% 66.8% 18.6% 115.9%
2021 25.7% 82.2% 20% 102.7%
2020 33.2% 103% 22.1% 96.9%
2019 27.5% 78.6% 19.5% 82.6%
2018 26.9% 79% 17.5% 83.6%
2017 27.7% 78.1% 17.9% 72.3%
2016 27.7% 70.5% 18.2% 75%
2015 27.9% 65.1% 19.3% 76.3%
2014 24.8% 61.5% 17.2% 69.6%
2013 23.8% 62.8% 16.6% 69.5%
2012 22.1% 63.1% 17.3% 67.5%
2011 23.5% 66.2% 19.1% 69.4%
2010 23.3% 68.4% 19.3% 68.7%
2009 23.2% 69.7% 21% 72.8%
2008 21.8% 64.7% 19.1% 68.8%
2007 22.1% 66.4% 19.9% 71.8%
2006 21.2% 71.4% 20.5% 74.3%
2005 21.4% 72.7% 20.1% 76.6%
2004 21.7% 70.7% 19.3% 86.5%
2003 24.6% 67.2% 19.3% 86.5%
2002 24.4% 53.2% 20.8% 96.3%
2001 25.9% 49.5% 22.4% 84.4%
2000 23.2% 79% 21.7% 79.2%
1999 23.6% 41.5% 20.5% 77.7%
1998 20.9% 38.7% 21.4% 74.2%
1997 19.9% 39.4% 21.4% 70.1%
1996 19.9% 38.4% 23.1% 76.2%
1995 - - 24.8% 77.8%
1994 - - 24.1% 77.9%
1993 - - 23.2% 79.2%
1992 - - 23% 77.9%
1991 - - 26.4% 80.5%
1990 - - 25.4% 78.9%

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/sri-lanka | CC BY

In 2024, Belize's government spending was $842M, accounting for 26.3% of its GDP, while Sri Lanka spent $19.1B, or 19.3% of GDP.

Debt-to-GDP ratio is 65.4% in Belize and 100.8% in Sri Lanka, ranking 67/185 and 23/185, respectively.

Government deficit by year

Deficit/surplus
Belize

Sri Lanka
1x
Year Deficit/surplus, % of GDP
Belize Sri Lanka
2024 -1.23% -5.64%
2023 -2.42% -8.32%
2022 -1.04% -10.2%
2021 -3.29% -11.7%
2020 -8.57% -13.4%
2019 -2.9% -7.52%
2018 -1.37% -4.96%
2017 -3.48% -5.1%
2016 -4.47% -5%
2015 -5.14% -6.64%
2014 -1.72% -5.99%
2013 -1.21% -5%
2012 -0.22% -5.44%
2011 -1.06% -6.01%
2010 -1.9% -6.73%
2009 -2.46% -8.33%
2008 1.25% -5.93%
2007 -0.19% -5.81%
2006 -2.27% -5.91%
2005 -3.7% -5.93%
2004 -4.52% -6.32%
2003 -8.41% -6.15%
2002 -5.41% -6.9%
2001 -7.23% -8.48%
2000 -6.68% -7.78%
1999 -6.51% -5.58%
1998 -2.69% -6.79%
1997 -1.81% -5.71%
1996 -1.76% -6.89%
1995 - -7.11%
1994 - -7.41%
1993 - -5.77%
1992 - -4.95%
1991 - -7.97%
1990 - -6.39%

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

GeoRank.org/economy/belize/sri-lanka | 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 Sri Lanka's deficit of $5.58B, or 5.64% of GDP.

Over the past 29 years, Belize recorded a fiscal deficit in 28 of those years, while Sri Lanka ran a deficit in 29 years. On average, Belize posted an annual deficit equal to 3.19% of GDP, compared to deficit of 6.9% of GDP for Sri Lanka.

Inflation comparison by year

Inflation
Belize

Sri Lanka
1x
Year Consumer prices inflation
Belize Sri Lanka
2024 3.3% -0.43%
2023 4.4% 16.5%
2022 6.3% 49.7%
2021 3.2% 7.01%
2020 0.1% 6.15%
2019 0.2% 3.53%
2018 0.3% 2.14%
2017 1.1% 7.7%
2016 0.7% 3.96%
2015 -0.9% 3.77%
2014 1.2% 3.18%
2013 0.5% 6.91%
2012 1.2% 7.54%
2011 1.7% 6.72%
2010 0.9% 6.22%
2009 -1.1% 3.46%
2008 6.4% 22.6%
2007 2.3% 15.8%
2006 4.2% 10%
2005 3.7% 11.6%
2004 3.1% 7.58%
2003 2.6% 6.31%
2002 2.2% 9.55%
2001 1.1% 14.2%
2000 0.6% 6.18%
1999 -1.2% 4.69%
1998 -0.8% 9.36%
1997 1% 9.57%

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/sri-lanka | CC BY

Over the past 28 years, Belize has recorded an average annual inflation rate of 1.73%, compared with 9.34% in Sri Lanka. In 2024, inflation was 3.3% in Belize and -0.43% in Sri Lanka.

Top exports between countries

Belize
Export category Export value
Raw agricultural goods $21K
Processed food, beverages & tobacco $1K
Sri Lanka
Export category Export value
Wood & paper products $623K
Raw materials & minerals $396K
Textiles & consumer goods $223K
Raw agricultural goods $171K
Processed food, beverages & tobacco $72K
Chemicals & pharma $70K
Machinery & equipment $12K

Balance of trade

Belize Sri Lanka
Current account balance
-$51.7M
2024
$1.21B
2024
Current account balance ranking
84/190
2024
53/190
2024
Current account balance, % of GDP
-1.61%
2024
+1.22%
2024
Goods imports
$1.36B
2024
$18.8B
2024
Goods exports
$482M
2024
$12.8B
2024
Service imports
$362M
2024
$3.48B
2024
Service exports
$1.16B
2024
$6.91B
2024
Imports of goods and services, % of GDP
53.7%
2024
22.5%
2024
Exports of goods and services, % of GDP
55.2%
2024
19.9%
2024

Economic freedom indices

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

Belize Sri Lanka
Economic freedom 64.7 50.3
Economic freedom ranking 71/197 162/197
Property rights 46.3 47.3
Government integrity 46.2 37.3
Judicial effectiveness 73.9 47.2
Tax burden 81.8 77
Government spending 81 89
Fiscal health 87.5 0
Business freedom 67.2 60.1
Labor freedom 57.6 54.3
Monetary freedom 72.6 65.9
Trade freedom 57.8 65.6
Investment freedom 55 30
Financial freedom 50 30

Economic freedom comparison by year

Belize
Sri Lanka
1x
Year Economic freedom index
Belize Sri Lanka
2026 64.7 50.3
2025 64.2 49.4
2024 61.2 49.2
2023 59.8 52.2
2022 56.6 53.3
2021 57.5 55.7
2020 57.4 57.4
2019 55.4 56.4
2018 57.1 57.8
2017 58.6 57.4
2016 57.4 59.9
2015 56.8 58.6
2014 56.7 60
2013 57.3 60.7
2012 61.9 58.3
2011 63.8 57.1
2010 61.5 54.6
2009 63 56
2008 63 58.4
2007 63.3 59.4
2006 64.7 58.7
2005 64.5 61
2004 62.8 61.6
2003 63.5 62.5
2002 65.6 64
2001 65.9 66
2000 63.3 63.2
1999 60.7 64
1998 59.1 64.6
1997 64.3 65.5
1996 61.6 62.5
1995 62.9 60.6

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

GeoRank.org/economy/belize/sri-lanka | CC BY

The Economic Freedom Index for Belize is 64.7, ranking 71/197, compared to 50.3 for Sri Lanka, ranking 162/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Belize Sri Lanka
Services, % of GDP
62.4%
2024
57.5%
2024
Industry, % of GDP
14.6%
2024
25.5%
2024
Agriculture, forestry, and fishing, % of GDP
7.95%
2024
8.3%
2024
GNI, Atlas method
$2.98B
2024
$84.6B
2024
GNI per capita, PPP
$13,760
2024
$15,240
2024
Total reserves including gold
$498M
2024
$6.09B
2024
Total reserves ranking
156/177
2024
92/177
2024
Net foreign direct investment
-$126M
2024
-$651M
2024
Net inflows of foreign direct investment
$128M
2024
$761M
2024
Net outflows of foreign direct investment
$2.61M
2024
$110M
2024
Servicing debt to the IMF, % of GNI
4.15%
2024
4.98%
2024
Poverty at national poverty lines
52%
2018
14.3%
2019
Gross capital formation, % of GDP
19.8%
2024
27%
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/sri-lanka | 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. TradeMap (2020–2024, 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)

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.