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Economy of Brazil vs Zimbabwe compared: GDP & Debt

Updated on by Georank

Brazil has a GDP of $2.28T compared to $51.2B for Zimbabwe, ranking 11/197 and 95/197 by economy size, respectively.

Brazil has $2.13T in government debt (93.3% of GDP), compared to $22.4B (43.8% of GDP) in Zimbabwe.

Brazil vs Zimbabwe GDP by year

Brazil
Zimbabwe
1x
Year GDP, current $
Brazil Zimbabwe
2025 $2,279,920,092,492 $51,215,643,906
2024 $2,185,821,610,689 $41,521,975,830
2023 $2,191,131,765,685 $35,871,781,303
2022 $1,951,923,942,083 $40,757,585,309
2021 $1,670,647,398,905 $41,287,852,524
2020 $1,476,107,231,310 $31,979,753,645
2019 $1,873,288,205,060 $33,360,632,553
2018 $1,916,933,898,011 $34,141,666,667
2017 $2,063,514,977,366 $51,035,657,371
2016 $1,795,693,482,853 $20,559,250,000
2015 $1,802,212,206,815 $19,973,250,000
2014 $2,456,043,727,199 $19,505,500,000
2013 $2,472,819,535,557 $19,100,750,000
2012 $2,465,227,802,807 $17,123,500,000
2011 $2,616,156,223,918 $14,109,000,000
2010 $2,208,837,745,101 $12,047,750,000
2009 $1,666,996,438,581 $9,670,750,000
2008 $1,695,855,083,498 $4,418,000,000
2007 $1,397,114,486,369 $5,294,750,000
2006 $1,107,626,541,435 $5,446,750,000
2005 $891,633,839,894 $5,758,250,000
2004 $669,289,424,806 $5,808,500,000
2003 $558,233,745,652 $5,730,500,000
2002 $509,795,273,807 $6,345,250,000
2001 $559,983,634,799 $6,780,750,000
2000 $655,448,231,984 $6,693,250,000
1999 $599,642,024,320 $6,861,500,000
1998 $863,710,759,256 $6,405,250,000
1997 $883,206,179,730 $8,534,000,000
1996 $850,426,432,992 $8,557,500,000
1995 $769,333,050,987 $7,115,000,000
1994 $525,369,467,296 $6,894,250,000
1993 $368,292,034,381 $6,567,250,000
1992 $328,191,909,882 $6,755,000,000
1991 $342,534,090,909 $8,646,000,000
1990 $384,959,818,182 $8,788,301,546
1989 $412,990,820,287 $8,290,553,535
1988 $307,881,930,752 $7,818,774,177
1987 $283,056,836,894 $6,744,657,033
1986 $256,480,852,471 $6,220,698,247
1985 $210,879,844,639 $5,640,137,575
1984 $188,339,974,087 $6,355,369,172
1983 $189,656,506,321 $7,768,031,182
1982 $271,314,113,768 $8,544,060,905
1981 $258,015,174,749 $8,015,464,252
1980 $237,393,489,893 $6,682,278,300
1979 $221,338,204,480 $5,180,102,910
1978 $200,278,646,124 $4,353,822,343
1977 $176,344,101,402 $4,366,610,469
1976 $153,168,949,208 $4,320,576,877
1975 $129,203,555,239 $4,373,532,601
1974 $109,794,519,728 $3,984,194,614
1973 $83,592,275,863 $3,311,043,292
1972 $58,434,858,375 $2,679,096,597
1971 $48,869,830,902 $2,179,828,710
1970 $42,327,664,794 $1,885,168,339
1969 $37,171,640,819 $1,748,891,294
1968 $33,930,457,425 $1,480,355,355
1967 $31,086,389,195 $1,397,715,282
1966 $28,283,323,733 $1,282,403,936
1965 $22,465,522,884 $1,312,105,394
1964 $20,963,733,695 $1,217,759,447
1963 $23,287,712,878 $1,160,103,724
1962 $19,231,747,852 $1,118,172,226
1961 $17,275,940,449 $1,097,206,526
1960 $17,030,465,539 $1,053,528,036

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

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

GDP per capita in Brazil vs Zimbabwe by year

Brazil
GDP per capita

GDP per capita, PPP
Zimbabwe
GDP per capita

GDP per capita, PPP
1x
Year Current $
Brazil Zimbabwe
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $10,713 - $3,021 -
2024 $10,311 $22,338 $2,496 $5,928
2023 $10,378 $21,176 $2,195 $5,791
2022 $9,281 $19,877 $2,536 $5,396
2021 $7,973 $18,076 $2,614 $4,827
2020 $7,074 $16,102 $2,060 $4,179
2019 $9,030 $16,070 $2,185 $4,166
2018 $9,301 $15,464 $2,271 $3,993
2017 $10,081 $14,559 $3,445 $10,756
2016 $8,836 $14,309 $1,408 $4,275
2015 $8,936 $14,821 $1,387 $4,046
2014 $12,275 $15,827 $1,373 $3,903
2013 $12,459 $15,722 $1,363 $3,784
2012 $12,522 $15,198 $1,239 $3,472
2011 $13,397 $15,212 $1,038 $3,047
2010 $11,403 $14,452 $902 $2,661
2009 $8,679 $13,391 $736 $2,233
2008 $8,908 $13,445 $341 $1,987
2007 $7,410 $12,673 $414 $2,396
2006 $5,934 $11,751 $431 $2,454
2005 $4,828 $11,081 $461 $2,496
2004 $3,664 $10,526 $470 $2,591
2003 $3,091 $9,802 $468 $2,708
2002 $2,856 $9,617 $525 $3,238
2001 $3,176 $9,304 $566 $3,533
2000 $3,767 $9,092 $563 $3,429
1999 $3,494 $8,635 $582 $3,491
1998 $5,106 $8,599 $552 $3,527
1997 $5,299 $8,602 $751 $3,457
1996 $5,179 $8,301 $767 $3,372
1995 $4,757 $8,097 $648 $3,051
1994 $3,299 $7,727 $634 $3,012
1993 $2,349 $7,260 $605 $2,703
1992 $2,127 $6,869 $631 $2,651
1991 $2,258 $6,867 $831 $2,930
1990 $2,581 $6,688 $867 $2,757
1989 $2,819 - $840 -
1988 $2,141 - $816 -
1987 $2,006 - $726 -
1986 $1,854 - $693 -
1985 $1,556 - $649 -
1984 $1,420 - $757 -
1983 $1,461 - $959 -
1982 $2,138 - $1,096 -
1981 $2,080 - $1,069 -
1980 $1,959 - $949 -
1979 $1,870 - $779 -
1978 $1,733 - $665 -
1977 $1,562 - $677 -
1976 $1,390 - $687 -
1975 $1,201 - $717 -
1974 $1,045 - $674 -
1973 $815 - $579 -
1972 $583 - $483 -
1971 $500 - $406 -
1970 $444 - $361 -
1969 $399 - $346 -
1968 $374 - $302 -
1967 $351 - $294.4 -
1966 $328 - $278.7 -
1965 $268 - $294.3 -
1964 $257.3 - $281.9 -
1963 $294.2 - $277.1 -
1962 $250.2 - $275.7 -
1961 $231.6 - $279.2 -
1960 $235.3 - $276.6 -

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

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

Brazil's GDP per capita is $10,713, ranking 85/197, compared to $3,021 in Zimbabwe, ranking 146/197. Adjusted for purchasing power (GDP per capita PPP), Brazil ranks 88th at $22,338, while Zimbabwe ranks 154th at $5,928.

Economic indicators

Brazil Zimbabwe
Gross domestic product
$2.28T
2025
$51.2B
2025
GDP rank
11/197
2025
95/197
2025
GDP growth
2.29%
2024-2025
8.11%
2024-2025
GDP per capita
$10,713
2025
$3,021
2025
GDP per capita rank
85/197
2025
146/197
2025
GDP per capita, PPP
$22,338
2024
$5,928
2024
GDP per capita PPP rank
88/197
2024
154/197
2024
Government debt
$2.13T
2025
$22.4B
2025
Debt-to-GDP ratio
93.3%
2025
43.8%
2025
Government debt per person
$9,999
2025
$1,322
2025
Government debt per person rank
60/185
2025
134/185
2025
Average annual personal income after taxes
$6,555
2026
$2,800
2026
Market capitalization of domestic companies
$871B
2025
$2.46B
1999
Number of millionaires
386,000
2026
n/a
Number of billionaires
70
2026
1
2026
Income share by richest 10%
39.3%
2024
40.5%
2019
Income share by poorest 10%
1.3%
2024
1.9%
2019
Government expenditure, % of GDP
47.4%
2025
15.5%
2025
Consumer prices inflation
5%
2024-2025
81.4%
2024-2025
Central bank interest rate
14.5%
2026
35%
2024
Unemployment rate
5.83%
2025
12.1%
2024
Population
213964342
17443108

Spending and national debt comparison by year

Brazil
Spending

Debt
Zimbabwe
Spending

Debt
1x
Year % of GDP
Brazil Zimbabwe
Government spending Government debt Government spending Government debt
2025 47.4% 93.3% 15.5% 43.8%
2024 45.5% 87% 13.7% 70.4%
2023 45.3% 84% 21.1% 76.1%
2022 43.4% 83.9% 12.1% 66.8%
2021 40.4% 88.9% 12.4% 39.9%
2020 46.2% 96% 8.4% 56.8%
2019 43% 87.1% 7.7% 53.9%
2018 44.2% 84.8% 14.6% 33%
2017 44.3% 82.7% 21.1% 49%
2016 45.5% 77.4% 17% 35.1%
2015 46.2% 71.7% 14.9% 34.1%
2014 41.4% 61.6% 14.2% 29.2%
2013 39.8% 59.6% 15.2% 26.4%
2012 39.3% 61.6% 14.8% 27.2%
2011 39.4% 60.6% 16.5% 30%
2010 39.5% 62.4% 13.1% 33.2%
2009 40.5% 64.7% 8.02% 39.7%
2008 39.9% 61.4% 2.57% 41.3%
2007 40.4% 63% 3.46% 30.2%
2006 42.6% 64.6% 5.79% 26.7%
2005 41.9% 67% 10.6% 22.4%
2004 39.7% 68% - -
2003 41.3% 71.5% - -
2002 44.5% 76.1% - -
2001 39.8% 67.3% - -
2000 34.5% 62.2% - -
1999 39.6% 44.5% - -
1998 40.9% 38.9% - -
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 (2000–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–2000, retrieved 2026-07-08).

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

In 2025, Brazil's government spending was $1.08T, accounting for 47.4% of its GDP, while Zimbabwe spent $7.92B, or 15.5% of GDP.

Debt-to-GDP ratio is 93.3% in Brazil and 43.8% in Zimbabwe, ranking 29/185 and 120/185, respectively.

Government deficit by year

Deficit/surplus
Brazil

Zimbabwe
1x
Year Deficit/surplus, % of GDP
Brazil Zimbabwe
2025 -8.07% 0.08%
2024 -6.17% -0.76%
2023 -7.71% -9.45%
2022 -3.96% -1%
2021 -2.63% -1.83%
2020 -11.6% 0.53%
2019 -4.86% -0.06%
2018 -6.99% -4.55%
2017 -7.97% -8.68%
2016 -7.99% -4.99%
2015 -9.28% -1.61%
2014 -6.27% -0.87%
2013 -3.42% -1.21%
2012 -2.35% -0.35%
2011 -2.74% -1.98%
2010 -3.55% -0.4%
2009 -4.23% -1.48%
2008 -2.39% -1.22%
2007 -2.66% -1.71%
2006 -4.87% -1.46%
2005 -3.36% -3.58%
2004 -2.95% -
2003 -5.4% -
2002 -4.15% -
2001 -3.47% -
2000 -3.32% -
1999 -5.17% -
1998 -7.22% -
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 (2001–2025, retrieved 2026-07-08).

GeoRank.org/economy/brazil/zimbabwe | 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 Zimbabwe's surplus of $41.9M, or 0.08% of GDP.

Over the past 21 years, Brazil recorded a fiscal deficit in 21 of those years, while Zimbabwe ran a deficit in 19 years. On average, Brazil posted an annual deficit equal to 5.39% of GDP, compared to deficit of 2.22% of GDP for Zimbabwe.

Inflation comparison by year

Inflation
Brazil

Zimbabwe
1x
Year Consumer prices inflation
Brazil Zimbabwe
2025 5% 81.4%
2024 4.4% 736%
2023 4.6% 667%
2022 9.3% 193.4%
2021 8.3% 98.5%
2020 3.2% 557%
2019 3.7% 255.3%
2018 3.7% 10.6%
2017 3.4% 0.9%
2016 8.7% -1.6%
2015 9% -2.4%
2014 6.3% -0.2%
2013 6.2% 1.6%
2012 5.4% 3.7%
2011 6.6% 3.5%
2010 5% 3%
2009 4.9% 6.2%
2008 5.7% -
2007 3.6% -
2006 4.2% -
2005 6.9% -
2004 6.6% -
2003 14.7% -
2002 8.4% -
2001 6.8% -
2000 7% -
1999 4.9% -
1998 3.2% -
1997 6.9% -

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

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

Over the past 17 years, Brazil has recorded an average annual inflation rate of 5.75%, compared with 153.8% in Zimbabwe. In 2025, inflation was 5% in Brazil and 81.4% in Zimbabwe.

Top exports between countries

Brazil
Export category Export value
Machinery & equipment $2.7M
Raw materials & minerals $2.03M
Raw agricultural goods $445K
Chemicals & pharma $306K
Wood & paper products $155K
Textiles & consumer goods $65K
Metals $58K
Animal & marine products $28K
Processed food, beverages & tobacco $22K
Precious metals & jewellery $1K
Zimbabwe
Export category Export value
Processed food, beverages & tobacco $756K
Precious metals & jewellery $28K
Raw agricultural goods $3K

Balance of trade

Brazil Zimbabwe
Current account balance
-$66.7B
2025
$501M
2024
Current account balance ranking
188/190
2025
59/190
2024
Current account balance, % of GDP
-2.93%
2025
+1.21%
2024
Goods imports
$291B
2025
$9.06B
2024
Goods exports
$351B
2025
$7.79B
2024
Service imports
$105B
2025
$1.66B
2024
Service exports
$54.4B
2025
$457M
2024
Imports of goods and services, % of GDP
17.5%
2025
23.4%
2024
Exports of goods and services, % of GDP
17.8%
2025
18.1%
2024

Economic freedom indices

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

Brazil Zimbabwe
Economic freedom 52.4 35.2
Economic freedom ranking 148/197 190/197
Property rights 49.2 19.4
Government integrity 37.2 20.7
Judicial effectiveness 55.6 16.8
Tax burden 70.6 73.6
Government spending 39.8 93.9
Fiscal health 28 52.4
Business freedom 65.7 42
Labor freedom 57 33.3
Monetary freedom 76 0
Trade freedom 69 50.4
Investment freedom 40 10
Financial freedom 40 10

Economic freedom comparison by year

Brazil
Zimbabwe
1x
Year Economic freedom index
Brazil Zimbabwe
2026 52.4 35.2
2025 55.1 35.1
2024 53.2 38.2
2023 53.5 39
2022 53.3 33.1
2021 53.4 39.5
2020 53.7 43.1
2019 51.9 40.4
2018 51.4 44
2017 52.9 44
2016 56.5 38.2
2015 56.6 37.6
2014 56.9 35.5
2013 57.7 28.6
2012 57.9 26.3
2011 56.3 22.1
2010 55.6 21.4
2009 56.7 22.7
2008 56.2 29.5
2007 56.2 32
2006 60.9 33.5
2005 61.7 35.2
2004 62 34.4
2003 63.4 36.7
2002 61.5 36.7
2001 61.9 38.8
2000 61.1 48.7
1999 61.3 47.2
1998 52.3 44.6
1997 52.6 48
1996 48.1 46.7
1995 51.4 48.5

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

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

The Economic Freedom Index for Brazil is 52.4, ranking 148/197, compared to 35.2 for Zimbabwe, ranking 190/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Brazil Zimbabwe
Services, % of GDP
59.7%
2025
48.2%
2025
Industry, % of GDP
20.1%
2025
37.1%
2025
Agriculture, forestry, and fishing, % of GDP
6.09%
2025
9.47%
2025
GNI, Atlas method
$2.25T
2025
$45B
2025
GNI per capita, PPP
$22,670
2025
$6,390
2025
Total reserves including gold
$359B
2025
$485M
2024
Total reserves ranking
13/177
2025
159/177
2024
Net foreign direct investment
-$47.5B
2025
-$465M
2024
Net inflows of foreign direct investment
$74.1B
2024
$465M
2024
Net outflows of foreign direct investment
$26.3B
2024
$131M
2024
Servicing debt to the IMF, % of GNI
5.4%
2024
3.44%
2024
Poverty at national poverty lines
4.2%
2020
38.3%
2019
Gross capital formation, % of GDP
17.1%
2025
8.85%
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/brazil/zimbabwe | 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 (2000–2025, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2022–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)
  9. Central Intelligence Agency (CIA) (2020, 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.