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Economy of Belize vs Vanuatu compared: GDP & Debt

Updated on by Georank

Belize has a GDP of $3.33B compared to $1.35B for Vanuatu, ranking 170/197 and 185/197 by economy size, respectively.

Belize has $2.26B in government debt (67.9% of GDP), compared to $554M (40.9% of GDP) in Vanuatu.

Belize vs Vanuatu GDP by year

Belize
Vanuatu
1x
Year GDP, current $
Belize Vanuatu
2025 $3,326,500,000 $1,353,658,841
2024 $3,203,631,800 $1,297,956,615
2023 $3,052,362,650 $1,188,137,265
2022 $2,846,604,350 $1,151,863,790
2021 $2,428,606,250 $1,093,826,089
2020 $2,047,284,600 $1,017,403,363
2019 $2,381,187,850 $1,061,547,513
2018 $2,285,915,050 $1,034,402,941
2017 $2,266,028,250 $998,536,155
2016 $2,239,604,950 $908,725,513
2015 $2,193,095,150 $855,360,240
2014 $2,138,242,200 $879,185,478
2013 $2,035,191,450 $863,347,172
2012 $1,917,083,500 $747,839,698
2011 $1,831,576,700 $770,153,588
2010 $1,748,988,400 $670,712,980
2009 $1,688,012,750 $592,622,319
2008 $1,738,453,600 $590,748,429
2007 $1,706,190,450 $516,392,923
2006 $1,590,463,100 $439,358,587
2005 $1,474,298,400 $394,962,433
2004 $1,400,202,000 $364,996,869
2003 $1,308,280,250 $314,471,413
2002 $1,243,912,050 $262,596,536
2001 $1,172,045,150 $257,926,882
2000 $1,138,138,100 $272,014,628
1999 $999,713,050 $268,006,973
1998 $929,047,000 $262,293,411
1997 $872,916,050 $272,771,209
1996 $850,339,100 $261,370,044
1995 $818,590,250 $249,333,250
1994 $771,838,000 $233,701,301
1993 $752,255,150 $200,491,853
1992 $695,741,150 $209,088,825
1991 $596,682,100 $201,334,169
1990 $546,750,912 $168,879,207
1989 $491,100,000 $154,013,202
1988 $421,450,000 $158,351,368
1987 $371,100,000 $139,464,174
1986 $311,500,000 $126,498,935
1985 $287,300,000 $131,856,421
1984 $290,350,000 $144,482,515
1983 $262,150,000 $117,389,554
1982 $248,550,000 $114,501,913
1981 $260,750,000 $113,781,796
1980 $257,400,000 $121,185,498
1979 $151,800,000 $119,258,835
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 (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Belize vs Vanuatu by year

Belize
GDP per capita

GDP per capita, PPP
Vanuatu
GDP per capita

GDP per capita, PPP
1x
Year Current $
Belize Vanuatu
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $7,865 - $4,039 -
2024 $7,681 $14,347 $3,960 $3,606
2023 $7,425 $13,730 $3,708 $3,568
2022 $7,068 $13,461 $3,680 $3,453
2021 $6,143 $11,716 $3,576 $3,136
2020 $5,239 $9,639 $3,404 $3,118
2019 $6,172 $10,500 $3,636 $3,315
2018 $6,012 $9,497 $3,626 $3,233
2017 $6,072 $9,121 $3,585 $3,146
2016 $6,141 $9,399 $3,340 $3,030
2015 $6,155 $9,538 $3,214 $2,966
2014 $6,128 $9,490 $3,378 $2,890
2013 $5,957 $9,526 $3,393 $2,832
2012 $5,733 $9,303 $3,005 $2,834
2011 $5,596 $9,722 $3,163 $2,816
2010 $5,461 $9,748 $2,815 $2,733
2009 $5,400 $9,728 $2,546 $2,730
2008 $5,712 $9,975 $2,604 $2,701
2007 $5,762 $10,226 $2,334 $2,573
2006 $5,525 $9,910 $2,035 $2,496
2005 $5,270 $9,466 $1,874 $2,287
2004 $5,154 $9,245 $1,774 $2,157
2003 $4,960 $8,850 $1,567 $2,070
2002 $4,859 $8,154 $1,341 $1,995
2001 $4,719 $7,852 $1,350 $2,125
2000 $4,727 $7,544 $1,460 $2,206
1999 $4,290 $6,790 $1,472 $2,084
1998 $4,126 $6,333 $1,471 $2,091
1997 $4,014 $6,243 $1,562 $2,087
1996 $4,043 $6,087 $1,529 $1,998
1995 $4,010 $6,091 $1,492 $1,961
1994 $3,877 $6,073 $1,431 $1,946
1993 $3,860 $6,075 $1,257 $1,789
1992 $3,643 $5,706 $1,344 $1,777
1991 $3,190 $5,053 $1,326 $1,737
1990 $2,986 $4,467 $1,141 $1,670
1989 $2,742 - $1,067 -
1988 $2,406 - $1,125 -
1987 $2,166 - $1,017 -
1986 $1,859 - $946 -
1985 $1,754 - $1,012 -
1984 $1,814 - $1,137 -
1983 $1,677 - $947 -
1982 $1,629 - $946 -
1981 $1,753 - $962 -
1980 $1,774 - $1,048 -
1979 $1,071 - $1,055 -
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 (1960–2025, retrieved 2026-07-08).

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

Belize's GDP per capita is $7,865, ranking 99/197, compared to $4,039 in Vanuatu, ranking 133/197. Adjusted for purchasing power (GDP per capita PPP), Belize ranks 117th at $14,347, while Vanuatu ranks 170th at $3,606.

Economic indicators

Belize Vanuatu
Gross domestic product
$3.33B
2025
$1.35B
2025
GDP rank
170/197
2025
185/197
2025
GDP growth
2.75%
2024-2025
3.05%
2024-2025
GDP per capita
$7,865
2025
$4,039
2025
GDP per capita rank
99/197
2025
133/197
2025
GDP per capita, PPP
$14,347
2024
$3,606
2024
GDP per capita PPP rank
117/197
2024
170/197
2024
Government debt
$2.26B
2025
$554M
2025
Debt-to-GDP ratio
67.9%
2025
40.9%
2025
Government debt per person
$5,339
2025
$1,654
2025
Government debt per person rank
81/185
2025
125/185
2025
Average annual personal income after taxes
$5,278
2026
$2,801
2026
Number of billionaires
1
2026
n/a
Income share by richest 10%
30%
2018
24.7%
2019
Income share by poorest 10%
2.2%
2018
3%
2019
Government expenditure, % of GDP
25.9%
2025
35.5%
2025
Consumer prices inflation
1.1%
2024-2025
0.66%
2024-2025
Unemployment rate
29.3%
2020
1.41%
2025
Population
431659
346488

Spending and national debt comparison by year

Belize
Spending

Debt
Vanuatu
Spending

Debt
1x
Year % of GDP
Belize Vanuatu
Government spending Government debt Government spending Government debt
2025 25.9% 67.9% 35.5% 40.9%
2024 26.8% 65.4% 33.1% 39.1%
2023 25.8% 67.5% 38.9% 39.2%
2022 23.4% 66.8% 38.5% 39.2%
2021 25.7% 82.2% 38.6% 42.2%
2020 33.2% 103% 38.8% 42.9%
2019 27.5% 78.6% 35.1% 39.8%
2018 26.9% 79% 29.4% 40%
2017 27.7% 78.1% 32.7% 46.4%
2016 27.7% 70.5% 31.2% 37.6%
2015 27.9% 65.1% 38.1% 32.2%
2014 24.8% 61.5% 20.5% 17.8%
2013 23.8% 62.8% 20.1% 16.4%
2012 22.1% 63.1% 22.1% 17.4%
2011 23.5% 66.2% 22.7% 19.3%
2010 23.3% 68.4% 25.6% 18.3%
2009 23.2% 69.7% 24.9% 19.1%
2008 21.8% 64.7% 25.1% 19.2%
2007 22.1% 66.4% 20.3% 17.6%
2006 21.2% 71.4% 18.2% 20%
2005 21.4% 72.7% 16.5% 23.8%
2004 21.7% 70.7% 16.7% 27.5%
2003 24.6% 67.2% 17% 34.6%
2002 24.4% 53.2% 20.2% 35.1%
2001 25.9% 49.5% 20.2% 33.5%
2000 23.2% 79% 23% 32.6%
1999 23.6% 41.5% 21.6% 27.7%
1998 20.9% 38.7% 25.2% 25.4%
1997 19.9% 39.4% 20.1% 20.7%
1996 19.9% 38.4% 22.1% 20.8%
1995 - - 25.3% 21.8%
1994 - - 22% 19.5%
1993 - - 23.7% 18.3%
1992 - - 28.8% 19%
1991 - - 30% 14.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1996–2000, retrieved 2026-07-08).

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

In 2025, Belize's government spending was $861M, accounting for 25.9% of its GDP, while Vanuatu spent $480M, or 35.5% of GDP.

Debt-to-GDP ratio is 67.9% in Belize and 40.9% in Vanuatu, ranking 61/185 and 131/185, respectively.

Government deficit by year

Deficit/surplus
Belize

Vanuatu
1x
Year Deficit/surplus, % of GDP
Belize Vanuatu
2025 -0.96% -3.88%
2024 -1.52% -2.46%
2023 -2.42% -0.78%
2022 -1.04% -5.96%
2021 -3.29% 2.07%
2020 -8.57% -1.74%
2019 -2.9% 2.48%
2018 -1.37% 5.53%
2017 -3.48% -1.06%
2016 -4.47% -0.64%
2015 -5.14% -8.13%
2014 -1.72% 1.26%
2013 -1.21% -0.22%
2012 -0.22% -1.54%
2011 -1.06% -1.98%
2010 -1.9% -2.38%
2009 -2.46% -0.76%
2008 1.25% -0.04%
2007 -0.19% 0.25%
2006 -2.27% 0.44%
2005 -3.7% 1.68%
2004 -4.52% 0.72%
2003 -8.41% -1.22%
2002 -5.41% -3.29%
2001 -7.23% -3.01%
2000 -6.68% -5.67%
1999 -6.51% -0.5%
1998 -2.69% -6.01%
1997 -1.81% -0.46%
1996 -1.76% -1.61%
1995 - -2.34%
1994 - -1.35%
1993 - -3.32%
1992 - -2.1%
1991 - -2.54%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2025, retrieved 2026-07-08).

GeoRank.org/economy/belize/vanuatu | 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 Vanuatu's deficit of $52.6M, or 3.88% of GDP.

Over the past 30 years, Belize recorded a fiscal deficit in 29 of those years, while Vanuatu ran a deficit in 22 years. On average, Belize posted an annual deficit equal to 3.12% of GDP, compared to deficit of 1.3% of GDP for Vanuatu.

Inflation comparison by year

Inflation
Belize

Vanuatu
1x
Year Consumer prices inflation
Belize Vanuatu
2025 1.1% 0.66%
2024 3.3% 1.14%
2023 4.4% 11.2%
2022 6.3% 6.68%
2021 3.2% 2.34%
2020 0.1% 5.33%
2019 0.2% 2.76%
2018 0.3% 2.33%
2017 1.1% 3.08%
2016 0.7% 0.84%
2015 -0.9% 2.48%
2014 1.2% 0.8%
2013 0.5% 1.46%
2012 1.2% 1.35%
2011 1.7% 0.87%
2010 0.9% 2.76%
2009 -1.1% 4.3%
2008 6.4% 4.84%
2007 2.3% 3.94%
2006 4.2% 2.04%
2005 3.7% 1.2%
2004 3.1% 1.42%
2003 2.6% 3.02%
2002 2.2% 1.96%
2001 1.1% 3.58%
2000 0.6% 2.54%
1999 -1.2% 2%
1998 -0.8% 3.28%
1997 1% 2.83%

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/vanuatu | CC BY

Over the past 29 years, Belize has recorded an average annual inflation rate of 1.7%, compared with 2.86% in Vanuatu. In 2025, inflation was 1.1% in Belize and 0.66% in Vanuatu.

Balance of trade

Belize Vanuatu
Current account balance
-$92.3M
2025
-$127M
2022
Current account balance ranking
80/190
2025
83/190
2022
Current account balance, % of GDP
-2.77%
2025
-11.1%
2022
Goods imports
$1.38B
2025
$350M
2022
Goods exports
$443M
2025
$73.6M
2022
Service imports
$352M
2025
$230M
2022
Service exports
$1.21B
2025
$78.5M
2022
Imports of goods and services, % of GDP
53.7%
2024
48%
2024
Exports of goods and services, % of GDP
55.2%
2024
25.3%
2024

Economic freedom indices

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

Belize Vanuatu
Economic freedom 64.7 61.1
Economic freedom ranking 71/197 92/197
Property rights 46.3 62.1
Government integrity 46.2 48.3
Judicial effectiveness 73.9 67.9
Tax burden 81.8 96.9
Government spending 81 48.1
Fiscal health 87.5 78.8
Business freedom 67.2 50.3
Labor freedom 57.6 41
Monetary freedom 72.6 72.1
Trade freedom 57.8 62
Investment freedom 55 65
Financial freedom 50 40

Economic freedom comparison by year

Belize
Vanuatu
1x
Year Economic freedom index
Belize Vanuatu
2026 64.7 61.1
2025 64.2 61.8
2024 61.2 62.2
2023 59.8 62.1
2022 56.6 62.9
2021 57.5 60.5
2020 57.4 60.7
2019 55.4 56.4
2018 57.1 69.5
2017 58.6 67.4
2016 57.4 60.8
2015 56.8 61.1
2014 56.7 59.5
2013 57.3 56.6
2012 61.9 56.6
2011 63.8 56.7
2010 61.5 56.4
2009 63 58.4
2008 63 -
2007 63.3 -
2006 64.7 -
2005 64.5 -
2004 62.8 -
2003 63.5 -
2002 65.6 -
2001 65.9 -
2000 63.3 -
1999 60.7 -
1998 59.1 -
1997 64.3 -
1996 61.6 -
1995 62.9 -

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

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

The Economic Freedom Index for Belize is 64.7, ranking 71/197, compared to 61.1 for Vanuatu, ranking 92/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Belize Vanuatu
Services, % of GDP
62.4%
2024
56.8%
2024
Industry, % of GDP
14.6%
2024
10.1%
2024
Agriculture, forestry, and fishing, % of GDP
7.95%
2024
26.6%
2024
GNI, Atlas method
$3.19B
2025
$1.48B
2025
GNI per capita, PPP
$14,230
2025
$4,970
2025
Total reserves including gold
$559M
2025
$615M
2024
Total reserves ranking
156/177
2025
152/177
2024
Net foreign direct investment
$1.15M
2025
-$9.21M
2022
Net inflows of foreign direct investment
$128M
2024
$28.9M
2024
Net outflows of foreign direct investment
$2.61M
2024
$2.79M
2024
Servicing debt to the IMF, % of GNI
4.15%
2024
1.88%
2024
Poverty at national poverty lines
52%
2018
15.9%
2020
Gross capital formation, % of GDP
19.8%
2024
26.1%
2024

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/vanuatu | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1991–2025, 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. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. 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.