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Economy of Brazil vs Myanmar compared: GDP & Debt

Updated on by Georank

Brazil has a GDP of $2.28T compared to $81.7B for Myanmar, ranking 11/197 and 85/197 by economy size, respectively.

Brazil has $2.13T in government debt (93.3% of GDP), compared to $42.4B (51.9% of GDP) in Myanmar.

Brazil vs Myanmar GDP by year

Brazil
Myanmar
1x
Year GDP, current $
Brazil Myanmar
2025 $2,279,920,092,492 $81,665,773,810
2024 $2,185,821,610,689 $74,068,349,524
2023 $2,191,131,765,685 $66,757,619,000
2022 $1,951,923,942,083 $62,253,049,892
2021 $1,670,647,398,905 $66,345,291,160
2020 $1,476,107,231,310 $79,006,113,643
2019 $1,873,288,205,060 $75,065,106,228
2018 $1,916,933,898,011 $67,860,515,990
2017 $2,063,514,977,366 $66,053,040,483
2016 $1,795,693,482,853 $63,298,361,996
2015 $1,802,212,206,815 $59,607,290,408
2014 $2,456,043,727,199 $65,531,374,200
2013 $2,472,819,535,557 $60,269,732,855
2012 $2,465,227,802,807 $59,937,796,648
2011 $2,616,156,223,918 $59,977,326,086
2010 $2,208,837,745,101 $49,540,813,342
2009 $1,666,996,438,581 $36,906,181,381
2008 $1,695,855,083,498 $31,862,554,102
2007 $1,397,114,486,369 $20,182,477,481
2006 $1,107,626,541,435 $14,502,553,710
2005 $891,633,839,894 $11,986,972,419
2004 $669,289,424,806 $10,567,354,056
2003 $558,233,745,652 $10,467,109,978
2002 $509,795,273,807 $6,777,632,512
2001 $559,983,634,799 $6,477,790,688
2000 $655,448,231,984 $8,905,066,164
1999 $599,642,024,320 $8,486,832,801
1998 $863,710,759,256 $6,459,461,639
1997 $883,206,179,730 $4,722,288,496
1996 $850,426,432,992 $6,123,556,717
1995 $769,333,050,987 $5,289,174,943
1994 $525,369,467,296 $4,432,257,174
1993 $368,292,034,381 $3,163,020,035
1992 $328,191,909,882 $2,411,552,289
1991 $342,534,090,909 $2,069,832,687
1990 $384,959,818,182 $2,115,193,513
1989 $412,990,820,287 $2,013,448,229
1988 $307,881,930,752 $1,541,088,312
1987 $283,056,836,894 $1,562,448,077
1986 $256,480,852,471 $1,582,873,750
1985 $210,879,844,639 $1,478,908,173
1984 $188,339,974,087 $1,304,063,253
1983 $189,656,506,321 $1,381,573,615
1982 $271,314,113,768 $1,481,165,468
1981 $258,015,174,749 $1,111,000,765
1980 $237,393,489,893 $1,038,225,167
1979 $221,338,204,480 $952,265,043
1978 $200,278,646,124 $935,408,775
1977 $176,344,101,402 $873,579,932
1976 $153,168,949,208 $1,204,699,849
1975 $129,203,555,239 $1,061,107,354
1974 $109,794,519,728 $1,225,589,878
1973 $83,592,275,863 $719,754,655
1972 $58,434,858,375 $662,213,083
1971 $48,869,830,902 $587,448,405
1970 $42,327,664,794 $563,555,631
1969 $37,171,640,819 $571,854,215
1968 $33,930,457,425 $559,956,130
1967 $31,086,389,195 $420,359,036
1966 $28,283,323,733 $293,103,479
1965 $22,465,522,884 $367,053,117
1964 $20,963,733,695 $411,419,906
1963 $23,287,712,878 $598,998,419
1962 $19,231,747,852 $634,528,872
1961 $17,275,940,449 $605,581,577
1960 $17,030,465,539 $545,098,448

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

GeoRank.org/economy/brazil/myanmar | CC BY

GDP per capita in Brazil vs Myanmar by year

Brazil
GDP per capita

GDP per capita, PPP
Myanmar
GDP per capita

GDP per capita, PPP
1x
Year Current $
Brazil Myanmar
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $10,713 - $1,489 -
2024 $10,311 $22,338 $1,359 $5,997
2023 $10,378 $21,176 $1,233 $5,953
2022 $9,281 $19,877 $1,158 $5,732
2021 $7,973 $18,076 $1,243 $5,178
2020 $7,074 $16,102 $1,490 $5,741
2019 $9,030 $16,070 $1,426 $6,101
2018 $9,301 $15,464 $1,298 $5,581
2017 $10,081 $14,559 $1,273 $4,706
2016 $8,836 $14,309 $1,229 $4,460
2015 $8,936 $14,821 $1,167 $4,459
2014 $12,275 $15,827 $1,293 $4,376
2013 $12,459 $15,722 $1,199 $4,144
2012 $12,522 $15,198 $1,203 $3,845
2011 $13,397 $15,212 $1,214 $3,579
2010 $11,403 $14,452 $1,011 $3,348
2009 $8,679 $13,391 $758 $3,040
2008 $8,908 $13,445 $658 $2,748
2007 $7,410 $12,673 $419 $2,459
2006 $5,934 $11,751 $303 $2,153
2005 $4,828 $11,081 $252.7 $1,860
2004 $3,664 $10,526 $224.5 $1,601
2003 $3,091 $9,802 $224.3 $1,385
2002 $2,856 $9,617 $146.6 $1,204
2001 $3,176 $9,304 $141.5 $1,069
2000 $3,767 $9,092 $196.6 $949
1999 $3,494 $8,635 $189.5 $825
1998 $5,106 $8,599 $146 $742
1997 $5,299 $8,602 $108 $702
1996 $5,179 $8,301 $141.9 $661
1995 $4,757 $8,097 $124.1 $618
1994 $3,299 $7,727 $105.4 $573
1993 $2,349 $7,260 $76.2 $529
1992 $2,127 $6,869 $58.9 $494
1991 $2,258 $6,867 $51.2 $447
1990 $2,581 $6,688 $53.1 $441
1989 $2,819 - $51.3 -
1988 $2,141 - $39.9 -
1987 $2,006 - $41.1 -
1986 $1,854 - $42.4 -
1985 $1,556 - $40.4 -
1984 $1,420 - $36.3 -
1983 $1,461 - $39.3 -
1982 $2,138 - $43 -
1981 $2,080 - $32.8 -
1980 $1,959 - $31.2 -
1979 $1,870 - $29.2 -
1978 $1,733 - $29.3 -
1977 $1,562 - $27.9 -
1976 $1,390 - $39.2 -
1975 $1,201 - $35.2 -
1974 $1,045 - $41.4 -
1973 $815 - $24.8 -
1972 $583 - $23.3 -
1971 $500 - $21.1 -
1970 $444 - $20.7 -
1969 $399 - $21.5 -
1968 $374 - $21.5 -
1967 $351 - $16.5 -
1966 $328 - $11.8 -
1965 $268 - $15.1 -
1964 $257.3 - $17.3 -
1963 $294.2 - $25.8 -
1962 $250.2 - $27.9 -
1961 $231.6 - $27.3 -
1960 $235.3 - $25.1 -

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

GeoRank.org/economy/brazil/myanmar | CC BY

Brazil's GDP per capita is $10,713, ranking 85/197, compared to $1,489 in Myanmar, ranking 166/197. Adjusted for purchasing power (GDP per capita PPP), Brazil ranks 88th at $22,338, while Myanmar ranks 153rd at $5,997.

Economic indicators

Brazil Myanmar
Gross domestic product
$2.28T
2025
$81.7B
2025
GDP rank
11/197
2025
85/197
2025
GDP growth
2.29%
2024-2025
-2.01%
2024-2025
GDP per capita
$10,713
2025
$1,489
2025
GDP per capita rank
85/197
2025
166/197
2025
GDP per capita, PPP
$22,338
2024
$5,997
2024
GDP per capita PPP rank
88/197
2024
153/197
2024
Government debt
$2.13T
2025
$42.4B
2025
Debt-to-GDP ratio
93.3%
2025
51.9%
2025
Government debt per person
$9,999
2025
$773
2025
Government debt per person rank
60/185
2025
152/185
2025
Average annual personal income after taxes
$6,555
2026
$2,165
2026
Market capitalization of domestic companies
$871B
2025
n/a
Number of millionaires
386,000
2026
n/a
Number of billionaires
70
2026
n/a
Income share by richest 10%
39.3%
2024
25.5%
2017
Income share by poorest 10%
1.3%
2024
3.8%
2017
Government expenditure, % of GDP
47.4%
2025
25.2%
2025
Consumer prices inflation
5%
2024-2025
8.83%
2018-2019
Central bank interest rate
14.5%
2026
n/a
Unemployment rate
5.83%
2025
1.48%
2020
Population
213964342
55361818

Spending and national debt comparison by year

Brazil
Spending

Debt
Myanmar
Spending

Debt
1x
Year % of GDP
Brazil Myanmar
Government spending Government debt Government spending Government debt
2025 47.4% 93.3% 25.2% 51.9%
2024 45.5% 87% 25.8% 50.6%
2023 45.3% 84% 21.4% 53.2%
2022 43.4% 83.9% 21.3% 56%
2021 40.4% 88.9% 20.9% 63.4%
2020 46.2% 96% 21.3% 49.1%
2019 43% 87.1% 20.5% 37.6%
2018 44.2% 84.8% 18.7% 39.9%
2017 44.3% 82.7% 19.7% 41.9%
2016 45.5% 77.4% 21.3% 35.7%
2015 46.2% 71.7% 23.7% 36.6%
2014 41.4% 61.6% 24.7% 34.5%
2013 39.8% 59.6% 23.9% 44.8%
2012 39.3% 61.6% 20% 48%
2011 39.4% 60.6% 15.6% 49.9%
2010 39.5% 62.4% 15.8% 54.4%
2009 40.5% 64.7% 14.4% 56.4%
2008 39.9% 61.4% 14.4% 59.8%
2007 40.4% 63% 15.7% 77.4%
2006 42.6% 64.6% 15.6% 103.1%
2005 41.9% 67% 14.6% 119%
2004 39.7% 68% 14.6% 126.6%
2003 41.3% 71.5% 14.3% 146%
2002 44.5% 76.1% 15.3% 190.6%
2001 39.8% 67.3% 19.1% 262%
2000 34.5% 62.2% 21.4% 164.5%
1999 39.6% 44.5% 22.8% 150.7%
1998 40.9% 38.9% 25.2% 208.6%
1997 38.6% 31.8% - -
1996 38.2% 30.7% - -
1995 - 28% - -
1994 - 30% - -
1993 - 32.6% - -
1992 - 37.1% - -
1991 - 38.1% - -
1990 - 40.6% - -
1989 - 40.2% - -
1988 - 46.9% - -
1987 - 50.3% - -
1986 11.7% 49.4% - -
1985 11.1% 52.6% - -
1984 10% 55.8% - -
1983 9.7% 51.5% - -
1982 8.1% 32.8% - -
1981 7.8% 34.6% - -
1980 6.8% 39.7% - -
1979 9% 36.6% - -
1978 10.2% 37% - -
1977 10.4% 31% - -
1976 10.6% 31.8% - -
1975 10.7% 27.7% - -
1974 10.5% 25.7% - -
1973 11% 22.4% - -
1972 12.6% 22.5% - -
1971 11.7% 17.9% - -
1970 11.4% 17% - -
1969 11.2% 16.5% - -
1968 14.4% 15.8% - -
1967 13.5% 13.8% - -
1966 14.6% 19.6% - -
1965 14% 17.6% - -
1964 25.4% 22.2% - -
1963 22.8% 20.4% - -
1962 23.1% 23.7% - -
1961 12% 25.7% - -
1960 13.7% 22.3% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1998–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–2000, retrieved 2026-07-08).

GeoRank.org/economy/brazil/myanmar | CC BY

In 2025, Brazil's government spending was $1.08T, accounting for 47.4% of its GDP, while Myanmar spent $20.6B, or 25.2% of GDP.

Debt-to-GDP ratio is 93.3% in Brazil and 51.9% in Myanmar, ranking 29/185 and 101/185, respectively.

Government deficit by year

Deficit/surplus
Brazil

Myanmar
1x
Year Deficit/surplus, % of GDP
Brazil Myanmar
2025 -8.07% -4.94%
2024 -6.17% -4.11%
2023 -7.71% -2.76%
2022 -3.96% -2.75%
2021 -2.63% -2.22%
2020 -11.6% -6.5%
2019 -4.86% -4.7%
2018 -6.99% -2.77%
2017 -7.97% -3.42%
2016 -7.99% -2.53%
2015 -9.28% -4.33%
2014 -6.27% -1.06%
2013 -3.42% -1.53%
2012 -2.35% -2.7%
2011 -2.74% -4.82%
2010 -3.55% -5.4%
2009 -4.23% -3.55%
2008 -2.39% -2.73%
2007 -2.66% -3.52%
2006 -4.87% -3.42%
2005 -3.36% -3.49%
2004 -2.95% -4.62%
2003 -5.4% -4.24%
2002 -4.15% -4.01%
2001 -3.47% -6.34%
2000 -3.32% -6.03%
1999 -5.17% -4.46%
1998 -7.22% -4.89%
1997 -5.6% -
1996 -5.35% -
1995 - -
1994 - -
1993 - -
1992 - -
1991 - -
1990 - -
1989 - -
1988 - -
1987 - -
1986 -1.6% -
1985 -1.3% -
1984 -0.4% -
1983 0.1% -
1982 1.4% -
1981 1% -
1980 2.5% -
1979 0.4% -
1978 -0.1% -
1977 0.1% -
1976 0.1% -
1975 0% -
1974 0.6% -
1973 0.1% -
1972 -0.1% -
1971 -0.3% -
1970 -0.4% -
1969 -0.6% -
1968 -1.6% -
1967 -2.1% -
1966 -1.3% -
1965 -2% -
1964 -8.79% -
1963 -5.78% -
1962 -6.82% -
1961 -2.93% -
1960 -3.85% -
1959 -0.18% -
1958 -0.76% -
1957 -0.29% -
1956 -0.14% -
1955 -0.62% -
1954 -0.49% -
1953 -1.26% -
1952 0.64% -
1951 0.87% -
1950 -1.58% -
1949 -1.22% -
1948 0.002% -
1947 0.25% -
1946 -1.78% -
1945 -2.87% -
1944 -2.37% -
1943 -0.75% -
1942 -2.55% -
1941 -2.15% -
1940 -1.13% -
1939 -1.2% -
1938 -0.59% -
1937 -1.62% -
1936 -0.27% -
1935 -0.5% -
1934 -2.28% -
1933 -1.56% -
1932 -6.47% -
1931 -1.56% -
1930 -3.58% -
1929 -0.09% -
1928 0.57% -
1927 0.12% -
1926 -0.76% -
1925 -0.07% -
1924 -0.45% -
1923 -1.94% -
1922 -3.8% -
1921 -2.98% -
1920 -3.11% -
1919 -3.69% -
1918 -4.51% -
1917 -4.8% -
1916 -4.35% -
1915 -6.33% -
1914 -7.32% -
1913 -1.91% -
1912 -3.05% -
1911 -2.15% -
1910 -2.06% -
1909 -1.62% -
1908 -1.89% -
1907 0.38% -
1906 0.28% -
1905 0.96% -
1904 -0.62% -
1903 1.79% -
1902 1.59% -
1901 -2.46% -
1900 -5.57% -
1899 -2.13% -
1898 -14% -
1897 -2.38% -
1896 -0.79% -
1895 -1.33% -
1894 -4.11% -
1893 -1.77% -
1892 -2.6% -
1891 0.51% -
1890 -3.02% -
1889 -3.79% -
1888 0.63% -
1887 -0.76% -
1886 -3.8% -
1885 -5.71% -
1884 -3.89% -
1883 -3.33% -
1882 -1.58% -
1881 -1.9% -
1880 -4.84% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1880–2000, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1998–2025, retrieved 2026-07-08).

GeoRank.org/economy/brazil/myanmar | CC BY

In 2025, Brazil's government deficit, the difference between spending and revenue, was $184B, equivalent to 8.07% of GDP. This compares to Myanmar's deficit of $4.04B, or 4.94% of GDP.

Over the past 28 years, Brazil recorded a fiscal deficit in 28 of those years, while Myanmar ran a deficit in 28 years. On average, Brazil posted an annual deficit equal to 5.17% of GDP, compared to deficit of 3.85% of GDP for Myanmar.

Inflation comparison by year

Inflation
Brazil

Myanmar
1x
Year Consumer prices inflation
Brazil Myanmar
2025 5% -
2024 4.4% -
2023 4.6% -
2022 9.3% -
2021 8.3% -
2020 3.2% -
2019 3.7% 8.83%
2018 3.7% 6.87%
2017 3.4% 4.57%
2016 8.7% 6.93%
2015 9% 9.45%
2014 6.3% 4.95%
2013 6.2% 5.64%
2012 5.4% 1.47%
2011 6.6% 5.02%
2010 5% 7.72%
2009 4.9% 1.47%
2008 5.7% 26.8%
2007 3.6% 35%
2006 4.2% 20%
2005 6.9% 9.37%
2004 6.6% 4.53%
2003 14.7% 36.6%
2002 8.4% 57.1%
2001 6.8% 21.1%
2000 7% -0.11%
1999 4.9% 18.4%
1998 3.2% 51.5%
1997 6.9% 29.7%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2019, retrieved 2026-07-08).

GeoRank.org/economy/brazil/myanmar | CC BY

Over the past 23 years, Brazil has recorded an average annual inflation rate of 6.17%, compared with 16.2% in Myanmar. In 2019, inflation was 5% in Brazil and 8.83% in Myanmar.

Top exports between countries

Brazil
Export category Export value
Animal & marine products $24.6M
Processed food, beverages & tobacco $13.5M
Metals $1.54M
Raw materials & minerals $1.04M
Textiles & consumer goods $731K
Machinery & equipment $290K
Chemicals & pharma $270K
Raw agricultural goods $23K
Wood & paper products $2K
Myanmar
Export category Export value
Textiles & consumer goods $8.35M
Raw materials & minerals $593K
Miscellaneous $502K
Machinery & equipment $238K
Wood & paper products $133K
Raw agricultural goods $102K
Animal & marine products $97K
Processed food, beverages & tobacco $43K
Metals $5K
Chemicals & pharma $1K

Balance of trade

Brazil Myanmar
Current account balance
-$66.7B
2025
$67.7M
2019
Current account balance ranking
188/190
2025
66/190
2019
Current account balance, % of GDP
-2.93%
2025
+0.09%
2019
Goods imports
$291B
2025
$13.7B
2019
Goods exports
$351B
2025
$10.8B
2019
Service imports
$105B
2025
$3.66B
2019
Service exports
$54.4B
2025
$6.68B
2019
Imports of goods and services, % of GDP
17.5%
2025
n/a
Exports of goods and services, % of GDP
17.8%
2025
24.3%
2026

Economic freedom indices

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

Brazil Myanmar
Economic freedom 52.4 44.5
Economic freedom ranking 148/197 180/197
Property rights 49.2 5.7
Government integrity 37.2 18.1
Judicial effectiveness 55.6 3.9
Tax burden 70.6 88.6
Government spending 39.8 86.6
Fiscal health 28 62.7
Business freedom 65.7 37.9
Labor freedom 57 53.2
Monetary freedom 76 57.5
Trade freedom 69 69.4
Investment freedom 40 30
Financial freedom 40 20

Economic freedom comparison by year

Brazil
Myanmar
1x
Year Economic freedom index
Brazil Myanmar
2026 52.4 44.5
2025 55.1 43.7
2024 53.2 42.2
2023 53.5 46.5
2022 53.3 49.6
2021 53.4 55.2
2020 53.7 54
2019 51.9 53.6
2018 51.4 53.9
2017 52.9 52.5
2016 56.5 48.7
2015 56.6 46.9
2014 56.9 46.5
2013 57.7 39.2
2012 57.9 38.7
2011 56.3 37.8
2010 55.6 36.7
2009 56.7 37.7
2008 56.2 39.5
2007 56.2 41
2006 60.9 40
2005 61.7 40.5
2004 62 43.6
2003 63.4 44.9
2002 61.5 45.5
2001 61.9 46.1
2000 61.1 47.9
1999 61.3 46.4
1998 52.3 45.7
1997 52.6 45.4
1996 48.1 45.1
1995 51.4 -

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

GeoRank.org/economy/brazil/myanmar | CC BY

The Economic Freedom Index for Brazil is 52.4, ranking 148/197, compared to 44.5 for Myanmar, ranking 180/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Brazil Myanmar
Services, % of GDP
59.7%
2025
38.5%
2025
Industry, % of GDP
20.1%
2025
36.2%
2025
Agriculture, forestry, and fishing, % of GDP
6.09%
2025
25.3%
2025
GNI, Atlas method
$2.25T
2025
$72.3B
2025
GNI per capita, PPP
$22,670
2025
$5,890
2025
Total reserves including gold
$359B
2025
$9.34B
2023
Total reserves ranking
13/177
2025
85/177
2023
Net foreign direct investment
-$47.5B
2025
-$1.74B
2019
Net inflows of foreign direct investment
$74.1B
2024
$1.1B
2024
Net outflows of foreign direct investment
$26.3B
2024
$0
2024
Servicing debt to the IMF, % of GNI
5.4%
2024
1.31%
2024
Poverty at national poverty lines
4.2%
2020
24.8%
2017
Gross capital formation, % of GDP
17.1%
2025
n/a

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/brazil/myanmar | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1880–2000, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1998–2025, retrieved 2026-07-08)
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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.