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Economy of Burundi vs New Zealand compared: GDP & Debt

Updated on by Georank

Burundi has a GDP of $3.36B compared to $264B for New Zealand, ranking 169/197 and 53/197 by economy size, respectively.

Burundi has $1.39B in government debt (41.2% of GDP), compared to $145B (54.7% of GDP) in New Zealand.

Burundi vs New Zealand GDP by year

Burundi
New Zealand
1x
Year GDP, current $
Burundi New Zealand
2025 $3,364,713,864 $264,057,413,740
2024 $3,037,579,858 $261,497,198,364
2023 $3,419,558,408 $256,372,177,758
2022 $4,020,736,757 $249,723,029,451
2021 $3,425,127,991 $253,732,493,988
2020 $3,188,355,944 $213,318,129,989
2019 $2,871,555,326 $213,088,034,258
2018 $2,913,411,408 $211,726,161,989
2017 $2,831,362,208 $206,561,943,051
2016 $2,618,093,125 $188,980,351,891
2015 $2,810,532,912 $178,147,457,243
2014 $2,705,826,648 $201,435,445,068
2013 $2,451,624,638 $190,943,478,290
2012 $2,327,402,363 $176,508,049,114
2011 $2,235,812,880 $168,458,838,711
2010 $2,032,135,192 $146,887,902,524
2009 $1,775,495,032 $121,663,439,315
2008 $1,611,835,857 $133,437,126,590
2007 $1,356,199,387 $137,188,946,866
2006 $1,273,375,078 $111,538,810,713
2005 $1,117,113,080 $114,720,129,550
2004 $915,257,323 $103,905,210,084
2003 $784,654,424 $88,250,885,550
2002 $825,394,519 $66,627,729,311
2001 $876,794,723 $53,872,425,917
2000 $870,486,066 $52,623,281,957
1999 $808,077,223 $58,762,260,626
1998 $893,770,740 $56,227,169,851
1997 $972,896,268 $66,075,143,415
1996 $869,033,856 $70,140,835,299
1995 $1,000,428,394 $63,918,703,507
1994 $925,030,590 $55,314,732,279
1993 $938,632,612 $46,775,620,817
1992 $1,083,037,671 $41,649,829,860
1991 $1,167,398,478 $42,745,329,732
1990 $1,132,101,253 $45,495,129,385
1989 $1,113,924,130 $43,920,222,525
1988 $1,082,403,219 $45,176,811,594
1987 $1,131,466,494 $40,376,354,070
1986 $1,201,725,497 $30,604,668,357
1985 $1,149,979,286 $24,679,795,396
1984 $987,143,931 $21,665,975,319
1983 $1,082,926,304 $24,309,279,706
1982 $1,013,222,222 $24,164,603,059
1981 $969,046,667 $24,417,617,184
1980 $919,726,667 $23,244,547,385
1979 $782,496,667 $20,731,243,113
1978 $610,225,556 $18,530,518,395
1977 $547,535,556 $15,446,825,318
1976 $448,412,754 $13,604,832,424
1975 $420,986,667 $12,861,983,284
1974 $345,263,492 $13,940,981,798
1973 $304,339,524 $12,802,281,898
1972 $246,804,571 $9,567,331,065
1971 $252,842,286 $7,911,136,757
1970 $242,732,571 $6,495,605,331
1969 $190,205,714 $5,814,357,709
1968 $183,200,000 $5,228,045,415
1967 $178,297,143 $6,016,017,227
1966 $165,444,571 $5,917,437,693
1965 $158,994,963 $5,706,251,400
1964 $260,750,008 $7,340,766,415
1963 $232,749,998 $6,699,741,645
1962 $213,500,006 $6,133,158,532
1961 $202,999,992 $5,721,994,864
1960 $195,999,990 $5,536,098,360

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

GeoRank.org/economy/burundi/new-zealand | CC BY

GDP per capita in Burundi vs New Zealand by year

Burundi
GDP per capita

GDP per capita, PPP
New Zealand
GDP per capita

GDP per capita, PPP
1x
Year Current $
Burundi New Zealand
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $233.8 - $49,591 -
2024 $216.2 $1,195 $49,432 $55,551
2023 $249.8 $1,150 $49,302 $54,697
2022 $302 $1,105 $49,142 $54,034
2021 $264.2 $1,036 $49,902 $48,249
2020 $252.7 $958 $42,055 $45,513
2019 $234.3 $868 $42,872 $45,278
2018 $245.7 $823 $43,204 $42,527
2017 $246.1 $791 $42,912 $42,244
2016 $232.9 $764 $40,088 $39,989
2015 $254.4 $722 $38,649 $37,513
2014 $250.5 $724 $44,600 $37,331
2013 $234.8 $687 $42,985 $36,263
2012 $231.1 $637 $40,042 $33,055
2011 $230.1 $629 $38,426 $32,739
2010 $216.7 $614 $33,762 $31,305
2009 $198.4 $605 $28,277 $30,746
2008 $189.5 $609 $31,325 $29,896
2007 $166.2 $594 $32,480 $29,331
2006 $161.9 $580 $26,655 $27,732
2005 $147.2 $553 $27,751 $25,677
2004 $125.2 $552 $25,420 $25,124
2003 $111.4 $532 $21,914 $23,996
2002 $121 $545 $16,874 $23,306
2001 $132.2 $528 $13,883 $22,511
2000 $134.5 $519 $13,641 $21,500
1999 $127.5 $523 $15,322 $20,579
1998 $144.5 $533 $14,738 $19,323
1997 $160.3 $513 $17,474 $19,100
1996 $143.2 $513 $18,794 $18,392
1995 $164.9 $548 $17,400 $17,864
1994 $161.9 $619 $15,280 $17,108
1993 $165.3 $634 $13,094 $15,900
1992 $184.9 $640 $11,793 $14,877
1991 $204.7 $636 $12,230 $14,501
1990 $202.6 $598 $13,663 $14,812
1989 $203.6 - $13,312 -
1988 $201.7 - $13,759 -
1987 $215.6 - $12,331 -
1986 $234.3 - $9,428 -
1985 $228.4 - $7,601 -
1984 $200.4 - $6,714 -
1983 $225.2 - $7,598 -
1982 $216.4 - $7,656 -
1981 $212.2 - $7,814 -
1980 $209.8 - $7,467 -
1979 $186.2 - $6,668 -
1978 $148.8 - $5,937 -
1977 $137.4 - $4,951 -
1976 $115.5 - $4,374 -
1975 $110.9 - $4,172 -
1974 $93.2 - $4,611 -
1973 $84.3 - $4,323 -
1972 $68.2 - $3,295 -
1971 $69.9 - $2,773 -
1970 $68.8 - $2,311 -
1969 $55.1 - $2,097 -
1968 $54.2 - $1,902 -
1967 $54 - $2,208 -
1966 $51.4 - $2,211 -
1965 $50.6 - $2,171 -
1964 $85.3 - $2,839 -
1963 $78.4 - $2,646 -
1962 $73.4 - $2,471 -
1961 $71.6 - $2,365 -
1960 $70.9 - $2,334 -

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

GeoRank.org/economy/burundi/new-zealand | CC BY

Burundi's GDP per capita is $233.8, ranking 197/197, compared to $49,591 in New Zealand, ranking 26/197. Adjusted for purchasing power (GDP per capita PPP), Burundi ranks 196th at $1,195, while New Zealand ranks 38th at $55,551.

Economic indicators

Burundi New Zealand
Gross domestic product
$3.36B
2025
$264B
2025
GDP rank
169/197
2025
53/197
2025
GDP growth
4.24%
2024-2025
0.46%
2024-2025
GDP per capita
$233.8
2025
$49,591
2025
GDP per capita rank
197/197
2025
26/197
2025
GDP per capita, PPP
$1,195
2024
$55,551
2024
GDP per capita PPP rank
196/197
2024
38/197
2024
Government debt
$1.39B
2025
$145B
2025
Debt-to-GDP ratio
41.2%
2025
54.7%
2025
Government debt per person
$96.3
2025
$27,139
2025
Government debt per person rank
184/185
2025
27/185
2025
Average annual personal income after taxes
$1,052
2026
$36,222
2026
Market capitalization of domestic companies n/a
$103B
2025
Number of billionaires n/a
5
2026
Income share by richest 10%
29.9%
2020
n/a
Income share by poorest 10%
2.9%
2020
n/a
Government expenditure, % of GDP
20.4%
2025
41.6%
2025
Consumer prices inflation
34.1%
2024-2025
2.84%
2024-2025
Central bank interest rate n/a
2.25%
2025
Unemployment rate
1.03%
2020
5.26%
2025
Population
14909238
5380024

Spending and national debt comparison by year

Burundi
Spending

Debt
New Zealand
Spending

Debt
1x
Year % of GDP
Burundi New Zealand
Government spending Government debt Government spending Government debt
2025 20.4% 41.2% 41.6% 54.7%
2024 22.3% 53.1% 41.7% 51.4%
2023 28.4% 59.9% 41% 47.3%
2022 33.5% 69.8% 41.7% 46.9%
2021 28.4% 63.6% 41.8% 47.5%
2020 29.2% 65.9% 41.9% 43.2%
2019 28.8% 60.1% 38.7% 31.8%
2018 26% 53% 36.1% 28.1%
2017 24.1% 46.9% 35.6% 31.1%
2016 22.6% 46.1% 36.4% 33.4%
2015 23.2% 39.9% 37.2% 34.2%
2014 28.5% 38% 37.6% 34.2%
2013 34.8% 37.9% 38.6% 34.6%
2012 37.5% 41.4% 39.7% 35.7%
2011 42.2% 42.7% 42.3% 34.7%
2010 40.8% 46.9% 42.9% 29.6%
2009 38% 25.7% 40.3% 24.3%
2008 41.2% 102.5% 38.4% 19%
2007 39% 129.6% 37% 16.3%
2006 36.5% 130.3% 37.8% 18.4%
2005 33.1% 137% 37.1% 20.8%
2004 39.2% 166.1% 36.1% 22.5%
2003 33.9% 159.9% 36.6% 24.7%
2002 21.9% 144.8% 36.7% 26.4%
2001 22.7% 113.6% 37.2% 28.2%
2000 21.7% 120% 38.2% 30%
1999 20.5% 140.6% 39.2% 32%
1998 19.9% 138.9% 40.1% 34.5%
1997 18.8% 122.8% 39.3% 34.6%
1996 24.4% 139.4% 39.8% 37.3%
1995 22.1% 117.1% 41.6% 43.5%
1994 19.4% 119.6% 42.7% 48.9%
1993 24% 112% 46.7% 54.6%
1992 26.1% 93.5% 52.4% 58.7%
1991 19.2% - 52.9% 58%
1990 17.4% - 49.5% 55.5%
1989 - - 47.8% 54.9%
1988 - - 46.1% 54.7%
1987 - - 46.1% 62.9%
1986 - - 46.9% 68.5%
1985 - - 46.2% 64.1%
1984 - - 40.7% 62.8%
1983 - - 41.4% 59.6%
1982 - - 39.9% 51.5%
1981 - - 39.1% 50.5%
1980 - - 38% 52.2%
1979 - - 38.4% 52%
1978 - - 36.6% 50%
1977 - - 30% 44.6%
1976 - - 31.6% 47.6%
1975 - - 30.1% 41.4%
1974 - - 27.3% 39.6%
1973 - - 27.1% 44%
1972 - - 26.4% 46%
1971 - - 26.8% 71.3%
1970 - - 24.8% 76.5%
1969 - - 25.9% 85.8%
1968 - - 26.2% 86.5%
1967 - - 26% 59.7%
1966 - - 25% 58.2%
1965 - - 24.9% 59.6%
1964 - - 19.4% 61.8%
1963 - - 19.4% 64.5%
1962 - - 21.6% 65%
1961 - - 21.1% 64.6%
1960 - - 25.3% 68.1%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-07-08).

GeoRank.org/economy/burundi/new-zealand | CC BY

In 2025, Burundi's government spending was $686M, accounting for 20.4% of its GDP, while New Zealand spent $110B, or 41.6% of GDP.

Debt-to-GDP ratio is 41.2% in Burundi and 54.7% in New Zealand, ranking 129/185 and 91/185, respectively.

Government deficit by year

Deficit/surplus
Burundi

New Zealand
1x
Year Deficit/surplus, % of GDP
Burundi New Zealand
2025 -2.98% -3.86%
2024 -4.83% -3.21%
2023 -7.7% -3.22%
2022 -10.7% -3.96%
2021 -4.6% -3.35%
2020 -6.58% -4.21%
2019 -6.4% -2.44%
2018 -6.66% 1.31%
2017 -5.01% 1.38%
2016 -7.11% 0.98%
2015 -7.56% 0.37%
2014 -3.93% -0.33%
2013 -1.9% -1.28%
2012 -3.79% -2.18%
2011 -3.49% -4.94%
2010 -3.64% -5.49%
2009 -5.14% -1.8%
2008 -2.7% 1.48%
2007 -2.51% 3.6%
2006 -9.92% 4.62%
2005 -10.6% 5.13%
2004 -14.9% 4.49%
2003 -13.7% 3.69%
2002 -4.9% 2.56%
2001 -7.78% 1.29%
2000 -5.66% 0.18%
1999 -5.33% -1.1%
1998 -4.43% -0.47%
1997 -4.48% 1.24%
1996 -8.61% 2.58%
1995 -3.72% 3.7%
1994 -1.76% 2%
1993 -1.22% -1.51%
1992 -4.16% -6.25%
1991 4.14% -6.12%
1990 8.14% -2.72%
1989 - -2.16%
1988 - -1.88%
1987 - -3.43%
1986 - -5.33%
1985 - -6.97%
1984 - -8.68%
1983 - -6.64%
1982 - -6.26%
1981 - -6.02%
1980 - -4.9%
1979 - -6.55%
1978 - -3.41%
1977 - -1.09%
1976 - -2.07%
1975 - 0.11%
1974 - 0.03%
1973 - -0.07%
1972 - 0.12%
1971 - 0.09%
1970 - -0.05%
1969 - 0.17%
1968 - 0.03%
1967 - 0.02%
1966 - 0.09%
1965 - 0.26%
1964 - -0.08%
1963 - -0.26%
1962 - 0.02%
1961 - 0.03%
1960 - 0.05%
1959 - 0.03%
1958 - -0.02%
1957 - 0.32%
1956 - 1.33%
1955 - 0.73%
1954 - 0.22%
1953 - 0.43%
1952 - 1.73%
1951 - 1.17%
1950 - 0.78%
1949 - 0.53%
1948 - 0.36%
1947 - 1.07%
1946 - 0.31%
1945 - 0.32%
1944 - 0.59%
1943 - 1.24%
1942 - 0.56%
1941 - 0.64%
1940 - 0.13%
1939 - 0.34%
1938 - 0.38%
1937 - 0.23%
1936 - 0.17%
1935 - 1.19%
1934 - -0.55%
1933 - 0.02%
1932 - -1.77%
1931 - -1.12%
1930 - 0.09%
1929 - -0.37%
1928 - 0.12%
1927 - 0.4%
1926 - 0.72%
1925 - 0.78%
1924 - 1.2%
1923 - 0.95%
1922 - -0.2%
1921 - 3.55%
1920 - 1.51%
1919 - 2.9%
1918 - 4.35%
1917 - 3.89%
1916 - 1.46%
1915 - 0.06%
1914 - 0.45%
1913 - 0.79%
1912 - 0.89%
1911 - 1.24%
1910 - 0.36%
1909 - 0.31%
1908 - 1.26%
1907 - 1.13%
1906 - 0.97%
1905 - 1.41%
1904 - 1.42%
1903 - 0.55%
1902 - 0.63%
1901 - 1.11%
1900 - 1.59%
1899 - 1.15%
1898 - 1.38%
1897 - 0.86%
1896 - 0.65%
1895 - 0.32%
1894 - 0.76%
1893 - 1.14%
1892 - 0.09%
1891 - 0.46%
1890 - 0.05%
1889 - 0.59%
1888 - -1.64%
1887 - -1.63%
1886 - -0.53%
1885 - -0.47%
1884 - -0.1%
1883 - 0.38%
1882 - 0.18%
1881 - -2.33%
1880 - -2.39%
1879 - -0.55%
1878 - -0.85%
1877 - -2.53%
1876 - -5.28%

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1876–1989, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/burundi/new-zealand | CC BY

In 2025, Burundi's government deficit, the difference between spending and revenue, was $100M, equivalent to 2.98% of GDP. This compares to New Zealand's deficit of $10.2B, or 3.86% of GDP.

Over the past 36 years, Burundi recorded a fiscal deficit in 34 of those years, while New Zealand ran a deficit in 19 years. On average, Burundi posted an annual deficit equal to 5.17% of GDP, compared to deficit of 0.5% of GDP for New Zealand.

Inflation comparison by year

Inflation
Burundi

New Zealand
1x
Year Consumer prices inflation
Burundi New Zealand
2025 34.1% 2.84%
2024 20.2% 2.92%
2023 26.9% 5.73%
2022 18.8% 7.17%
2021 8.4% 3.94%
2020 7.32% 1.71%
2019 -0.69% 1.62%
2018 -2.81% 1.6%
2017 16.1% 1.85%
2016 5.56% 0.65%
2015 5.54% 0.29%
2014 4.41% 1.23%
2013 7.94% 1.13%
2012 18.2% 1.06%
2011 9.59% 4.03%
2010 6.49% 2.3%
2009 10.6% 2.12%
2008 24.4% 3.96%
2007 8.41% 2.38%
2006 2.75% 3.37%
2005 13.3% 3.04%
2004 8.18% 2.29%
2003 10.6% 1.75%
2002 -1.37% 2.68%
2001 9.3% 2.63%
2000 24.4% 2.62%
1999 3.39% -0.11%
1998 12.5% 1.27%
1997 31.1% 1.19%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/burundi/new-zealand | CC BY

Over the past 29 years, Burundi has recorded an average annual inflation rate of 11.8%, compared with 2.39% in New Zealand. In 2025, inflation was 34.1% in Burundi and 2.84% in New Zealand.

Top exports between countries

Burundi
Export category Export value
Raw agricultural goods $449K
New Zealand
Export category Export value
Machinery & equipment $1K

Balance of trade

Burundi New Zealand
Current account balance
-$461M
2025
-$9.56B
2025
Current account balance ranking
103/190
2025
174/190
2025
Current account balance, % of GDP
-13.7%
2025
-3.62%
2025
Goods imports
$1.1B
2025
$48.2B
2025
Goods exports
$407M
2025
$47.2B
2025
Service imports
$406M
2025
$20.3B
2025
Service exports
$148M
2025
$19.5B
2025
Imports of goods and services, % of GDP
24.4%
2023
26%
2024
Exports of goods and services, % of GDP
5.29%
2023
24.7%
2024

Economic freedom indices

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

Burundi New Zealand
Economic freedom 40.2 77.8
Economic freedom ranking 187/197 13/197
Property rights 27.2 85.4
Government integrity 15.5 90
Judicial effectiveness 7.5 95.9
Tax burden 76.1 66.1
Government spending 76.3 48
Fiscal health 14.6 72.2
Business freedom 27.2 89.1
Labor freedom 49.9 68.6
Monetary freedom 55.5 77.4
Trade freedom 52.2 90.6
Investment freedom 50 70
Financial freedom 30 80

Economic freedom comparison by year

Burundi
New Zealand
1x
Year Economic freedom index
Burundi New Zealand
2026 40.2 77.8
2025 39.7 78.1
2024 38.4 77.8
2023 41.9 78.9
2022 39.4 80.6
2021 49.9 83.9
2020 49 84.1
2019 48.9 84.4
2018 50.9 84.2
2017 53.2 83.7
2016 53.9 81.6
2015 53.7 82.1
2014 51.4 81.2
2013 49 81.4
2012 48.1 82.1
2011 49.6 82.3
2010 47.5 82.1
2009 48.8 82
2008 46.2 80.7
2007 46.9 81.4
2006 48.7 82
2005 - 82.3
2004 - 81.5
2003 - 81.1
2002 - 80.7
2001 - 81.1
2000 42.6 80.9
1999 41.1 81.7
1998 44.7 79.2
1997 45.4 79
1996 - 78.1

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08).

GeoRank.org/economy/burundi/new-zealand | CC BY

The Economic Freedom Index for Burundi is 40.2, ranking 187/197, compared to 77.8 for New Zealand, ranking 13/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Burundi New Zealand
Services, % of GDP
42.1%
2025
68.2%
2023
Industry, % of GDP
18.2%
2025
19.4%
2023
Agriculture, forestry, and fishing, % of GDP
34.3%
2025
4.01%
2023
GNI, Atlas method
$3.46B
2025
$248B
2025
GNI per capita, PPP
$1,250
2025
$53,600
2025
Total reserves including gold
$90.3M
2023
$28.2B
2025
Total reserves ranking
174/177
2023
59/177
2025
Net foreign direct investment
-$31.2M
2025
-$3.58B
2025
Net inflows of foreign direct investment
$33.3M
2024
$1.76B
2024
Net outflows of foreign direct investment
$8.51M
2024
$882M
2024
Servicing debt to the IMF, % of GNI
1.18%
2024
n/a
Poverty at national poverty lines
51%
2020
n/a
Gross capital formation, % of GDP
10%
2023
23.1%
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/burundi/new-zealand | 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 (1876–1999, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2023–2024, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, 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.