Skip to content

Economy of Belize vs Zambia compared: GDP & Debt

Updated on by Georank

Belize has a GDP of $3.33B compared to $28.9B for Zambia, ranking 170/197 and 116/197 by economy size, respectively.

Belize has $2.26B in government debt (67.9% of GDP), compared to $24.8B (86% of GDP) in Zambia.

Belize vs Zambia GDP by year

Belize
Zambia
1x
Year GDP, current $
Belize Zambia
2025 $3,326,500,000 $28,879,806,220
2024 $3,203,631,800 $25,303,185,342
2023 $3,052,362,650 $27,577,956,471
2022 $2,846,604,350 $29,163,782,140
2021 $2,428,606,250 $22,096,416,932
2020 $2,047,284,600 $18,137,764,931
2019 $2,381,187,850 $23,308,667,781
2018 $2,285,915,050 $26,311,507,274
2017 $2,266,028,250 $25,873,601,261
2016 $2,239,604,950 $20,958,412,538
2015 $2,193,095,150 $21,251,216,799
2014 $2,138,242,200 $27,141,023,558
2013 $2,035,191,450 $28,037,239,463
2012 $1,917,083,500 $25,503,060,420
2011 $1,831,576,700 $23,459,515,276
2010 $1,748,988,400 $20,265,559,484
2009 $1,688,012,750 $15,328,342,304
2008 $1,738,453,600 $17,910,858,638
2007 $1,706,190,450 $14,056,957,976
2006 $1,590,463,100 $12,756,858,899
2005 $1,474,298,400 $8,331,870,169
2004 $1,400,202,000 $6,221,110,219
2003 $1,308,280,250 $4,901,869,764
2002 $1,243,912,050 $4,193,850,445
2001 $1,172,045,150 $4,094,441,301
2000 $1,138,138,100 $3,600,632,111
1999 $999,713,050 $3,404,284,891
1998 $929,047,000 $3,537,741,942
1997 $872,916,050 $4,303,288,480
1996 $850,339,100 $3,597,220,962
1995 $818,590,250 $3,806,983,413
1994 $771,838,000 $3,656,806,166
1993 $752,255,150 $3,273,505,344
1992 $695,741,150 $3,182,810,841
1991 $596,682,100 $3,376,806,697
1990 $546,750,912 $3,288,381,797
1989 $491,100,000 $3,994,673,161
1988 $421,450,000 $3,728,878,149
1987 $371,100,000 $2,265,250,972
1986 $311,500,000 $1,664,413,508
1985 $287,300,000 $2,252,454,500
1984 $290,350,000 $2,719,518,933
1983 $262,150,000 $3,321,048,451
1982 $248,550,000 $3,871,117,093
1981 $260,750,000 $4,008,126,497
1980 $257,400,000 $3,884,530,854
1979 $151,800,000 $3,353,445,378
1978 $136,300,000 $2,811,032,473
1977 $117,650,000 $2,515,296,940
1976 $97,094,227 $2,742,859,263
1975 $118,194,026 $2,442,672,141
1974 $103,160,450 $2,910,981,262
1973 $78,214,768 $2,434,255,237
1972 $65,998,069 $1,872,416,680
1971 $59,074,687 $1,653,259,341
1970 $53,339,893 $1,788,779,285
1969 $47,399,905 $1,926,399,230
1968 $44,999,910 $1,573,739,371
1967 $47,431,256 $1,340,639,464
1966 $44,450,044 $1,238,999,505
1965 $40,110,040 $1,061,199,576
1964 $36,194,586 $822,639,671
1963 $33,750,114 $704,339,719
1962 $31,857,592 $679,279,729
1961 $29,965,000 $682,359,727
1960 $28,072,478 $698,739,721

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

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

GDP per capita in Belize vs Zambia by year

Belize
GDP per capita

GDP per capita, PPP
Zambia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Belize Zambia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $7,865 - $1,318 -
2024 $7,681 $14,347 $1,187 $4,215
2023 $7,425 $13,730 $1,331 $4,077
2022 $7,068 $13,461 $1,447 $3,841
2021 $6,143 $11,716 $1,127 $3,503
2020 $5,239 $9,639 $952 $3,157
2019 $6,172 $10,500 $1,259 $3,361
2018 $6,012 $9,497 $1,464 $3,442
2017 $6,072 $9,121 $1,483 $3,392
2016 $6,141 $9,399 $1,239 $3,313
2015 $6,155 $9,538 $1,296 $3,337
2014 $6,128 $9,490 $1,707 $3,441
2013 $5,957 $9,526 $1,821 $3,477
2012 $5,733 $9,303 $1,710 $3,324
2011 $5,596 $9,722 $1,625 $3,228
2010 $5,461 $9,748 $1,451 $3,098
2009 $5,400 $9,728 $1,136 $2,872
2008 $5,712 $9,975 $1,376 $2,708
2007 $5,762 $10,226 $1,119 $2,555
2006 $5,525 $9,910 $1,052 $2,378
2005 $5,270 $9,466 $711 $2,213
2004 $5,154 $9,245 $549 $2,068
2003 $4,960 $8,850 $446 $1,942
2002 $4,859 $8,154 $394 $1,837
2001 $4,719 $7,852 $397 $1,785
2000 $4,727 $7,544 $359 $1,709
1999 $4,290 $6,790 $350 $1,654
1998 $4,126 $6,333 $373 $1,601
1997 $4,014 $6,243 $466 $1,631
1996 $4,043 $6,087 $400 $1,585
1995 $4,010 $6,091 $433 $1,501
1994 $3,877 $6,073 $426 $1,464
1993 $3,860 $6,075 $391 $1,607
1992 $3,643 $5,706 $389 $1,505
1991 $3,190 $5,053 $423 $1,534
1990 $2,986 $4,467 $422 $1,522
1989 $2,742 - $526 -
1988 $2,406 - $504 -
1987 $2,166 - $315 -
1986 $1,859 - $238.2 -
1985 $1,754 - $332 -
1984 $1,814 - $413 -
1983 $1,677 - $520 -
1982 $1,629 - $627 -
1981 $1,753 - $670 -
1980 $1,774 - $669 -
1979 $1,071 - $595 -
1978 $983 - $514 -
1977 $866 - $474 -
1976 $729 - $533 -
1975 $906 - $490 -
1974 $805 - $601 -
1973 $619 - $518 -
1972 $529 - $410 -
1971 $481 - $372 -
1970 $442 - $414 -
1969 $402 - $459 -
1968 $392 - $387 -
1967 $426 - $341 -
1966 $412 - $325 -
1965 $383 - $287.4 -
1964 $356 - $230 -
1963 $342 - $203.2 -
1962 $332 - $202.3 -
1961 $320 - $209.7 -
1960 $307 - $221.6 -

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

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

Belize's GDP per capita is $7,865, ranking 99/197, compared to $1,318 in Zambia, ranking 170/197. Adjusted for purchasing power (GDP per capita PPP), Belize ranks 117th at $14,347, while Zambia ranks 166th at $4,215.

Economic indicators

Belize Zambia
Gross domestic product
$3.33B
2025
$28.9B
2025
GDP rank
170/197
2025
116/197
2025
GDP growth
2.75%
2024-2025
3.76%
2024-2025
GDP per capita
$7,865
2025
$1,318
2025
GDP per capita rank
99/197
2025
170/197
2025
GDP per capita, PPP
$14,347
2024
$4,215
2024
GDP per capita PPP rank
117/197
2024
166/197
2024
Government debt
$2.26B
2025
$24.8B
2025
Debt-to-GDP ratio
67.9%
2025
86%
2025
Government debt per person
$5,339
2025
$1,133
2025
Government debt per person rank
81/185
2025
140/185
2025
Average annual personal income after taxes
$5,278
2026
$1,538
2026
Market capitalization of domestic companies n/a
$14.9B
2025
Number of billionaires
1
2026
n/a
Income share by richest 10%
30%
2018
39.1%
2022
Income share by poorest 10%
2.2%
2018
1.5%
2022
Government expenditure, % of GDP
25.9%
2025
29.7%
2025
Consumer prices inflation
1.1%
2024-2025
13.9%
2024-2025
Central bank interest rate n/a
13.3%
2026
Unemployment rate
29.3%
2020
5.67%
2024
Population
431659
22844606

Spending and national debt comparison by year

Belize
Spending

Debt
Zambia
Spending

Debt
1x
Year % of GDP
Belize Zambia
Government spending Government debt Government spending Government debt
2025 25.9% 67.9% 29.7% 86%
2024 26.8% 65.4% 26.5% 125.2%
2023 25.8% 67.5% 27.4% 129.1%
2022 23.4% 66.8% 28.2% 99.5%
2021 25.7% 82.2% 30.5% 111%
2020 33.2% 103% 34% 140%
2019 27.5% 78.6% 29.8% 103.3%
2018 26.9% 79% 27.7% 81.2%
2017 27.7% 78.1% 25% 66.6%
2016 27.7% 70.5% 23.9% 61.2%
2015 27.9% 65.1% 27.6% 61.9%
2014 24.8% 61.5% 24.3% 33.9%
2013 23.8% 62.8% 24% 25.9%
2012 22.1% 63.1% 21.9% 24.9%
2011 23.5% 66.2% 19.5% 20.8%
2010 23.3% 68.4% 18.1% 18.9%
2009 23.2% 69.7% 17.8% 20.5%
2008 21.8% 64.7% 19.5% 19.2%
2007 22.1% 66.4% 19.9% 21.9%
2006 21.2% 71.4% 19.7% 25%
2005 21.4% 72.7% 22.5% 75.7%
2004 21.7% 70.7% 23.3% 129.9%
2003 24.6% 67.2% 27.3% 159.5%
2002 24.4% 53.2% 27.6% 180.2%
2001 25.9% 49.5% 28% 210.2%
2000 23.2% 79% 21.4% 261%
1999 23.6% 41.5% - -
1998 20.9% 38.7% - -
1997 19.9% 39.4% - -
1996 19.9% 38.4% - -

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

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

In 2025, Belize's government spending was $861M, accounting for 25.9% of its GDP, while Zambia spent $8.58B, or 29.7% of GDP.

Debt-to-GDP ratio is 67.9% in Belize and 86% in Zambia, ranking 61/185 and 35/185, respectively.

Government deficit by year

Deficit/surplus
Belize

Zambia
1x
Year Deficit/surplus, % of GDP
Belize Zambia
2025 -0.96% -3.83%
2024 -1.52% -3.46%
2023 -2.42% -5.48%
2022 -1.04% -7.82%
2021 -3.29% -8.13%
2020 -8.57% -13.8%
2019 -2.9% -9.41%
2018 -1.37% -8.31%
2017 -3.48% -7.5%
2016 -4.47% -5.69%
2015 -5.14% -8.88%
2014 -1.72% -5.43%
2013 -1.21% -6.4%
2012 -0.22% -3.16%
2011 -1.06% -1.78%
2010 -1.9% -2.43%
2009 -2.46% -2.06%
2008 1.25% -0.67%
2007 -0.19% -1.04%
2006 -2.27% 16.9%
2005 -3.7% -2.37%
2004 -4.52% -2.51%
2003 -8.41% -5.31%
2002 -5.41% -4.5%
2001 -7.23% -5.89%
2000 -6.68% 1.16%
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/zambia | 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 Zambia's deficit of $1.11B, or 3.83% of GDP.

Over the past 26 years, Belize recorded a fiscal deficit in 25 of those years, while Zambia ran a deficit in 24 years. On average, Belize posted an annual deficit equal to 3.11% of GDP, compared to deficit of 4.14% of GDP for Zambia.

Inflation comparison by year

Inflation
Belize

Zambia
1x
Year Consumer prices inflation
Belize Zambia
2025 1.1% 13.9%
2024 3.3% 15%
2023 4.4% 10.9%
2022 6.3% 11%
2021 3.2% 22%
2020 0.1% 15.7%
2019 0.2% 9.2%
2018 0.3% 7.5%
2017 1.1% 6.6%
2016 0.7% 17.9%
2015 -0.9% 10.1%
2014 1.2% 7.8%
2013 0.5% 7%
2012 1.2% 6.6%
2011 1.7% 8.7%
2010 0.9% 8.5%
2009 -1.1% 13.4%
2008 6.4% 12.4%
2007 2.3% 10.7%
2006 4.2% 9%
2005 3.7% 18.3%
2004 3.1% 18%
2003 2.6% 21.4%
2002 2.2% 22.2%
2001 1.1% 21.4%
2000 0.6% 24.1%
1999 -1.2% 23.9%
1998 -0.8% 22.7%
1997 1% 21.4%

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

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

Over the past 29 years, Belize has recorded an average annual inflation rate of 1.7%, compared with 14.4% in Zambia. In 2025, inflation was 1.1% in Belize and 13.9% in Zambia.

Balance of trade

Belize Zambia
Current account balance
-$92.3M
2025
-$1.12B
2024
Current account balance ranking
80/190
2025
121/190
2024
Current account balance, % of GDP
-2.77%
2025
-4.41%
2024
Goods imports
$1.38B
2025
$10.1B
2024
Goods exports
$443M
2025
$11.4B
2024
Service imports
$352M
2025
$1.99B
2024
Service exports
$1.21B
2025
$1.38B
2024
Imports of goods and services, % of GDP
53.7%
2024
27.6%
2024
Exports of goods and services, % of GDP
55.2%
2024
35%
2024

Economic freedom indices

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

Belize Zambia
Economic freedom 64.7 51.9
Economic freedom ranking 71/197 152/197
Property rights 46.3 43.9
Government integrity 46.2 39.3
Judicial effectiveness 73.9 45
Tax burden 81.8 74.3
Government spending 81 78.1
Fiscal health 87.5 30.9
Business freedom 67.2 53.4
Labor freedom 57.6 48.8
Monetary freedom 72.6 66.6
Trade freedom 57.8 62.8
Investment freedom 55 40
Financial freedom 50 40

Economic freedom comparison by year

Belize
Zambia
1x
Year Economic freedom index
Belize Zambia
2026 64.7 51.9
2025 64.2 50.9
2024 61.2 48.4
2023 59.8 47.8
2022 56.6 48.7
2021 57.5 50.4
2020 57.4 53.5
2019 55.4 53.6
2018 57.1 54.3
2017 58.6 55.8
2016 57.4 58.8
2015 56.8 58.7
2014 56.7 60.4
2013 57.3 58.7
2012 61.9 58.3
2011 63.8 59.7
2010 61.5 58
2009 63 56.6
2008 63 56.2
2007 63.3 56.2
2006 64.7 56.8
2005 64.5 55
2004 62.8 54.9
2003 63.5 55.3
2002 65.6 59.6
2001 65.9 59.5
2000 63.3 62.8
1999 60.7 64.2
1998 59.1 62.7
1997 64.3 62.1
1996 61.6 59.6
1995 62.9 55.1

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

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

The Economic Freedom Index for Belize is 64.7, ranking 71/197, compared to 51.9 for Zambia, ranking 152/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Belize Zambia
Services, % of GDP
62.4%
2024
57%
2025
Industry, % of GDP
14.6%
2024
35.3%
2025
Agriculture, forestry, and fishing, % of GDP
7.95%
2024
4.11%
2025
GNI, Atlas method
$3.19B
2025
$26.2B
2025
GNI per capita, PPP
$14,230
2025
$3,990
2025
Total reserves including gold
$559M
2025
$4.09B
2024
Total reserves ranking
156/177
2025
111/177
2024
Net foreign direct investment
$1.15M
2025
-$2.05B
2024
Net inflows of foreign direct investment
$128M
2024
$2.36B
2024
Net outflows of foreign direct investment
$2.61M
2024
$311M
2024
Servicing debt to the IMF, % of GNI
4.15%
2024
17.3%
2024
Poverty at national poverty lines
52%
2018
60%
2022
Gross capital formation, % of GDP
19.8%
2024
23.8%
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/zambia | 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 (1996–2025, 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.