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Economy of Dominican Republic vs Uruguay compared: GDP & Debt

Updated on by Georank

The Dominican Republic has a GDP of $127B compared to $85.3B for Uruguay, ranking 65/197 and 84/197 by economy size, respectively.

The Dominican Republic has $75.2B in government debt (59% of GDP), compared to $56B (65.7% of GDP) in Uruguay.

Dominican Republic vs Uruguay GDP by year

Dominican Republic
Uruguay
1x
Year GDP, current $
Dominican Republic Uruguay
2025 $127,407,463,759 $85,347,696,278
2024 $124,282,245,639 $82,322,859,144
2023 $120,456,239,154 $79,208,725,900
2022 $113,478,103,598 $71,240,669,088
2021 $94,850,719,517 $60,739,061,281
2020 $78,546,672,407 $53,559,354,501
2019 $89,146,130,745 $62,222,324,965
2018 $84,994,732,049 $65,344,577,416
2017 $79,070,274,743 $65,006,039,810
2016 $75,552,902,636 $57,480,787,465
2015 $70,966,782,572 $57,680,327,999
2014 $67,014,329,100 $61,496,186,974
2013 $62,555,417,415 $61,337,621,934
2012 $60,561,635,556 $54,232,266,359
2011 $57,948,261,616 $50,342,406,067
2010 $53,801,053,353 $41,950,361,212
2009 $48,223,781,477 $32,708,319,078
2008 $48,091,433,554 $31,119,602,539
2007 $43,965,458,509 $23,797,773,024
2006 $37,879,830,084 $19,741,420,740
2005 $35,777,560,684 $17,362,857,684
2004 $22,322,387,382 $13,686,329,890
2003 $21,403,167,848 $12,045,638,352
2002 $27,137,440,786 $13,606,515,723
2001 $25,601,823,688 $20,898,761,742
2000 $24,305,780,629 $22,823,270,892
1999 $22,136,579,397 $23,983,945,191
1998 $21,672,215,547 $25,385,886,978
1997 $20,017,450,041 $23,969,739,234
1996 $18,241,622,548 $20,515,458,114
1995 $16,637,370,839 $19,297,663,097
1994 $14,644,734,599 $17,474,588,896
1993 $13,081,042,400 $15,002,136,971
1992 $11,605,382,504 $12,878,148,791
1991 $9,824,483,340 $11,206,176,651
1990 $7,073,675,545 $9,298,807,850
1989 $6,686,593,060 $8,438,951,476
1988 $5,374,299,981 $8,213,538,369
1987 $5,827,050,753 $7,367,494,080
1986 $6,122,128,558 $5,880,112,788
1985 $5,044,579,979 $4,732,017,873
1984 $11,594,000,000 $4,850,238,550
1983 $9,220,600,000 $5,102,276,308
1982 $8,267,400,000 $9,178,780,077
1981 $7,561,300,000 $11,048,301,421
1980 $6,761,300,000 $10,163,020,116
1979 $5,498,800,000 $7,181,182,224
1978 $4,734,400,000 $4,910,254,566
1977 $4,587,100,000 $4,114,670,014
1976 $3,951,500,000 $3,667,161,241
1975 $3,599,200,000 $3,538,278,047
1974 $2,925,700,000 $4,090,209,682
1973 $2,344,800,000 $3,964,296,443
1972 $1,987,400,000 $2,189,418,689
1971 $1,666,500,000 $2,807,258,065
1970 $1,485,500,000 $2,137,096,774
1969 $1,230,500,000 $2,004,435,484
1968 $1,079,100,000 $1,593,674,185
1967 $1,034,800,000 $1,597,713,469
1966 $983,900,000 $1,809,185,094
1965 $888,100,000 $1,890,767,156
1964 $1,025,599,900 $1,975,701,816
1963 $940,799,900 $1,539,681,491
1962 $824,100,000 $1,710,004,407
1961 $654,100,200 $1,547,388,781
1960 $672,399,700 $1,242,289,239

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

GeoRank.org/economy/dominican-republic/uruguay | CC BY

GDP per capita in Dominican Republic vs Uruguay by year

Dominican Republic
GDP per capita

GDP per capita, PPP
Uruguay
GDP per capita

GDP per capita, PPP
1x
Year Current $
Dominican Republic Uruguay
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $11,059 - $25,216 -
2024 $10,876 $27,542 $24,308 $36,418
2023 $10,630 $25,840 $23,379 $34,471
2022 $10,104 $24,626 $21,009 $33,001
2021 $8,527 $22,053 $17,882 $29,432
2020 $7,135 $18,998 $15,758 $25,725
2019 $8,183 $19,767 $18,316 $25,783
2018 $7,883 $17,995 $19,250 $24,386
2017 $7,413 $16,846 $19,185 $23,607
2016 $7,160 $16,282 $17,010 $22,841
2015 $6,801 $14,804 $17,126 $22,169
2014 $6,496 $13,465 $18,322 $21,868
2013 $6,137 $12,414 $18,335 $20,661
2012 $6,014 $11,777 $16,260 $19,495
2011 $5,827 $11,695 $15,132 $19,135
2010 $5,479 $11,246 $12,641 $17,873
2009 $4,974 $10,382 $9,881 $16,422
2008 $5,024 $10,346 $9,424 $15,694
2007 $4,650 $9,951 $7,222 $14,397
2006 $4,055 $9,130 $6,001 $13,179
2005 $3,878 $8,215 $5,284 $12,296
2004 $2,452 $7,375 $4,169 $11,103
2003 $2,383 $7,098 $3,671 $10,303
2002 $3,066 $7,158 $4,150 $10,030
2001 $2,936 $6,848 $6,383 $10,719
2000 $2,831 $6,639 $6,988 $10,929
1999 $2,621 $6,305 $7,371 $10,938
1998 $2,608 $5,963 $7,837 $11,002
1997 $2,449 $5,618 $7,436 $10,461
1996 $2,271 $5,161 $6,398 $9,524
1995 $2,109 $4,871 $6,050 $8,906
1994 $1,892 $4,599 $5,508 $8,897
1993 $1,722 $4,474 $4,753 $8,162
1992 $1,558 $4,151 $4,102 $7,808
1991 $1,346 $3,722 $3,589 $7,112
1990 $989 $3,641 $2,995 $6,683
1989 $955 - $2,734 -
1988 $784 - $2,677 -
1987 $868 - $2,416 -
1986 $932 - $1,939 -
1985 $784 - $1,568 -
1984 $1,844 - $1,615 -
1983 $1,500 - $1,707 -
1982 $1,376 - $3,085 -
1981 $1,288 - $3,728 -
1980 $1,180 - $3,443 -
1979 $984 - $2,443 -
1978 $868 - $1,678 -
1977 $863 - $1,414 -
1976 $763 - $1,268 -
1975 $713 - $1,232 -
1974 $595 - $1,433 -
1973 $490 - $1,397 -
1972 $427 - $776 -
1971 $368 - $1,000 -
1970 $338 - $766 -
1969 $287.7 - $723 -
1968 $259.6 - $579 -
1967 $256.2 - $585 -
1966 $250.9 - $668 -
1965 $233.2 - $705 -
1964 $277.3 - $745 -
1963 $262.2 - $587 -
1962 $236.8 - $659 -
1961 $193.9 - $604 -
1960 $205.7 - $491 -

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

GeoRank.org/economy/dominican-republic/uruguay | CC BY

The Dominican Republic's GDP per capita is $11,059, ranking 83/197, compared to $25,216 in Uruguay, ranking 54/197. Adjusted for purchasing power (GDP per capita PPP), the Dominican Republic ranks 76th at $27,542, while Uruguay ranks 61st at $36,418.

Economic indicators

Dominican Republic Uruguay
Gross domestic product
$127B
2025
$85.3B
2025
GDP rank
65/197
2025
84/197
2025
GDP growth
2.12%
2024-2025
1.78%
2024-2025
GDP per capita
$11,059
2025
$25,216
2025
GDP per capita rank
83/197
2025
54/197
2025
GDP per capita, PPP
$27,542
2024
$36,418
2024
GDP per capita PPP rank
76/197
2024
61/197
2024
Government debt
$75.2B
2025
$56B
2025
Debt-to-GDP ratio
59%
2025
65.7%
2025
Government debt per person
$6,525
2025
$16,559
2025
Government debt per person rank
73/185
2025
41/185
2025
Average annual personal income after taxes
$7,179
2026
$14,046
2026
Market capitalization of domestic companies n/a
$284M
1996
Income share by richest 10%
29.5%
2024
30%
2024
Income share by poorest 10%
2.3%
2024
2.2%
2024
Government expenditure, % of GDP
19.3%
2025
31.5%
2025
Consumer prices inflation
3.87%
2024-2025
4.65%
2024-2025
Central bank interest rate
5.5%
2025
5.75%
2026
Unemployment rate
5.17%
2025
8.21%
2024
Population
11656588
3382672

Spending and national debt comparison by year

Dominican Republic
Spending

Debt
Uruguay
Spending

Debt
1x
Year % of GDP
Dominican Republic Uruguay
Government spending Government debt Government spending Government debt
2025 19.3% 59% 31.5% 65.7%
2024 19.5% 58.8% 30.6% 67.6%
2023 19.1% 60.5% 30.1% 63%
2022 18.5% 59.6% 29.7% 59.4%
2021 18.4% 62.8% 30.2% 64.1%
2020 22.2% 71.8% 32.8% 68.2%
2019 17.8% 53.5% 30.6% 59.6%
2018 16.5% 50.8% 30.3% 57.9%
2017 17.3% 49.5% 29.7% 55.8%
2016 17% 46.7% 29.7% 56.4%
2015 16.7% 44.8% 28.4% 57.8%
2014 17% 45% 29.1% 51.1%
2013 18.5% 46.8% 28.8% 50%
2012 19.8% 42.4% 27.7% 49.8%
2011 16% 39.1% 26.3% 41.3%
2010 16.1% 37.4% 27.4% 40.9%
2009 16.2% 36.8% 27.2% 46.2%
2008 18.5% 33.6% 26.3% 46.2%
2007 16.3% 32.9% 26.8% 52.8%
2006 17% 36% 26.8% 61.1%
2005 15.5% 38.3% 26.3% 66.2%
2004 17.3% 34.3% 26.6% 73.7%
2003 17.2% 48.2% 27.7% 91.9%
2002 16.5% 21.5% 27.6% 90.1%
2001 14.9% 20.4% 27.8% 39.4%
2000 14.1% 16.7% 26.6% 30.5%
1999 13.4% 16% 27.2% 24.1%
1998 12.6% 13.2% 27.3% 19.4%
1997 13.2% 13.8% 27.6% 18.8%
1996 11.4% 23% 26.5% 18.3%
1995 11% 25.7% 26.2% 18.5%
1994 12.1% 28.5% 29.5% 19.3%
1993 13% 36.1% 27.7% 20%
1992 10.4% 38.5% 23.6% 22.2%
1991 8.65% 47.3% 22.2% 20.4%
1990 9.1% 84.7% 21.1% 26.2%
1989 11.3% 62.5% 37% -
1988 12.8% 77% 26% 34.8%
1987 11.2% 86.9% 24.4% 37.3%
1986 10.4% 63.8% 25.1% 34.6%
1985 9.8% 66.3% 24.6% 29%
1984 9.32% 28.9% 25.6% 39.5%
1983 10.2% 32.9% 26.5% 21.2%
1982 10.2% 33.1% 29.5% 13.5%
1981 12.1% 29.8% 25% 4.32%
1980 12.8% 15.2% 21.8% 4.59%
1979 13.8% 24% 20.2% 3.98%
1978 12.3% 20.9% 22.9% 5.64%
1977 11.4% 16.4% 23.5% 7.26%
1976 12.5% 15.6% 24.2% 8.67%
1975 13.7% 13.1% 23% 8.13%
1974 14.6% 14.6% 23.8% 7.61%
1973 13.7% 14.6% 22.6% 7%
1972 14.1% 16.4% 24.6% 9.12%
1971 13.8% 17.8% 20.1% 9.3%
1970 13.3% 18% 15.1% 6.11%
1969 15.5% 17.4% 14.6% -
1968 15.5% 18.1% 14.1% -
1967 15% 16.2% 14.7% -
1966 15.2% 14.5% 14.1% -
1965 12.8% - 15.6% -
1964 16.7% - 14.3% -
1963 15.1% - 14.6% -
1962 15.7% - 16% -
1961 20% - 13% -
1960 20.1% - 9.9% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1960–1998, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/dominican-republic/uruguay | CC BY

In 2025, the Dominican Republic's government spending was $24.6B, accounting for 19.3% of its GDP, while Uruguay spent $26.9B, or 31.5% of GDP.

Debt-to-GDP ratio is 59% in the Dominican Republic and 65.7% in Uruguay, ranking 80/185 and 66/185, respectively.

Government deficit by year

Deficit/surplus
Dominican Republic

Uruguay
1x
Year Deficit/surplus, % of GDP
Dominican Republic Uruguay
2025 -3.56% -3.36%
2024 -3.09% -3.16%
2023 -3.28% -3.09%
2022 -3.25% -2.5%
2021 -2.92% -2.61%
2020 -7.94% -4.64%
2019 -3.46% -2.71%
2018 -2.17% -1.89%
2017 -3.12% -2.51%
2016 -3.11% -2.68%
2015 -0.03% -1.86%
2014 -2.76% -2.6%
2013 -4.41% -1.72%
2012 -6.26% -2.17%
2011 -3.07% -0.33%
2010 -2.97% -0.39%
2009 -2.9% -1.39%
2008 -3.43% -1.31%
2007 0.28% -0.16%
2006 -1.69% -0.64%
2005 -0.71% -0.28%
2004 -3.6% -0.87%
2003 -4.24% -2.19%
2002 -2.28% -3.19%
2001 -0.73% -2.85%
2000 -0.86% -2.76%
1999 -0.79% -2.76%
1998 -0.29% -0.76%
1997 -0.64% -0.97%
1996 0.14% -1.32%
1995 0.82% -1.08%
1994 -0.39% -2.37%
1993 -0.16% -0.47%
1992 2.35% 0.6%
1991 0.11% 0.88%
1990 0.39% 0.49%
1989 -0.09% -13.1%
1988 -1.68% -1.47%
1987 -0.75% -0.66%
1986 -0.57% -0.34%
1985 -1.27% -1.88%
1984 -0.95% -4.94%
1983 -1.74% -3.54%
1982 -2.4% -8.22%
1981 -1.92% -1.15%
1980 -1.82% 0.43%
1979 -3.26% 0.99%
1978 -0.82% -0.47%
1977 0.15% -0.69%
1976 -0.22% -2.01%
1975 1.37% -4.38%
1974 -0.93% -3.74%
1973 -0.53% -1.09%
1972 -1.73% -2.25%
1971 -0.85% -5.86%
1970 -0.68% -1.33%
1969 -0.99% -2.37%
1968 -0.99% -2.93%
1967 -1.68% -4.12%
1966 -2.14% -2.01%
1965 -1.84% -5.14%
1964 -1.36% -3.61%
1963 -0.39% -4.4%
1962 -1.17% -5.02%
1961 -3% -0.86%
1960 -0.61% 0.79%
1959 -0.29% 0.64%
1958 -1.29% -1.38%
1957 0.21% -0.72%
1956 -0.05% 0.04%
1955 1.47% -1.24%
1954 1.43% -
1953 2.79% -
1952 0% -
1951 -2.58% -
1950 -3.66% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1950–1998, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/dominican-republic/uruguay | CC BY

In 2025, the Dominican Republic's government deficit, the difference between spending and revenue, was $4.53B, equivalent to 3.56% of GDP. This compares to Uruguay's deficit of $2.86B, or 3.36% of GDP.

Over the past 66 years, the Dominican Republic recorded a fiscal deficit in 58 of those years, while Uruguay ran a deficit in 60 years. On average, the Dominican Republic posted an annual deficit equal to 1.65% of GDP, compared to deficit of 2.23% of GDP for Uruguay.

Inflation comparison by year

Inflation
Dominican Republic

Uruguay
1x
Year Consumer prices inflation
Dominican Republic Uruguay
2025 3.87% 4.65%
2024 3.3% 4.85%
2023 4.79% 5.87%
2022 8.81% 9.1%
2021 8.24% 7.75%
2020 3.78% 9.76%
2019 1.81% 7.88%
2018 3.56% 7.61%
2017 3.28% 6.22%
2016 1.61% 9.64%
2015 0.84% 8.67%
2014 3% 8.88%
2013 4.83% 8.58%
2012 3.69% 8.1%
2011 5.8% 8.09%
2010 6.33% 6.7%
2009 1.44% 7.06%
2008 10.6% 7.88%
2007 6.14% 8.11%
2006 7.57% 6.4%
2005 4.19% 4.7%
2004 51.5% 9.16%
2003 27.4% 19.4%
2002 5.22% 14%
2001 8.88% 4.36%
2000 7.72% 4.76%
1999 6.47% 5.66%
1998 4.83% 10.8%
1997 8.3% 19.8%

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

GeoRank.org/economy/dominican-republic/uruguay | CC BY

Over the past 29 years, the Dominican Republic has recorded an average annual inflation rate of 7.51%, compared with 8.43% in Uruguay. In 2025, inflation was 3.87% in the Dominican Republic and 4.65% in Uruguay.

Top exports between countries

Dominican Republic
Export category Export value
Chemicals & pharma $1.04M
Processed food, beverages & tobacco $247K
Machinery & equipment $208K
Wood & paper products $109K
Textiles & consumer goods $57K
Raw materials & minerals $56K
Raw agricultural goods $53K
Animal & marine products $18K
Precious metals & jewellery $11K
Uruguay
Export category Export value
Raw agricultural goods $8.45M
Chemicals & pharma $4.55M
Wood & paper products $1.14M
Processed food, beverages & tobacco $588K
Animal & marine products $150K
Machinery & equipment $104K
Precious metals & jewellery $51K
Metals $47K
Raw materials & minerals $43K
Textiles & consumer goods $7K

Balance of trade

Dominican Republic Uruguay
Current account balance
-$1.49B
2025
-$374M
2025
Current account balance ranking
128/190
2025
100/190
2025
Current account balance, % of GDP
-1.17%
2025
-0.44%
2025
Goods imports
$29.8B
2025
$13.6B
2025
Goods exports
$16B
2025
$16.1B
2025
Service imports
$5.65B
2025
$5.96B
2025
Service exports
$14.4B
2025
$7.39B
2025
Imports of goods and services, % of GDP
27.9%
2025
22.6%
2025
Exports of goods and services, % of GDP
23.6%
2025
27.1%
2025

Economic freedom indices

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

Dominican Republic Uruguay
Economic freedom 63.8 69.8
Economic freedom ranking 77/197 39/197
Property rights 53.9 87.4
Government integrity 39.8 79
Judicial effectiveness 58 80.9
Tax burden 84.4 73.3
Government spending 89.1 72
Fiscal health 76.6 76.6
Business freedom 71.4 83.8
Labor freedom 53.2 61.7
Monetary freedom 72.1 70.2
Trade freedom 67.4 73.2
Investment freedom 60 50
Financial freedom 40 30

Economic freedom comparison by year

Dominican Republic
Uruguay
1x
Year Economic freedom index
Dominican Republic Uruguay
2026 63.8 69.8
2025 64.3 70.2
2024 62.9 69.8
2023 62.6 70.2
2022 63 70
2021 62.1 69.3
2020 60.9 69.1
2019 61 68.6
2018 61.6 69.2
2017 62.9 69.7
2016 61 68.8
2015 61 68.6
2014 61.3 69.3
2013 59.7 69.7
2012 60.2 69.9
2011 60 70
2010 60.3 69.8
2009 59.2 69.1
2008 57.7 67.9
2007 56.8 68.4
2006 56.3 65.3
2005 55.1 66.9
2004 54.6 66.7
2003 57.8 69.8
2002 58.6 68.7
2001 59.1 70.7
2000 59 69.3
1999 58.1 68.5
1998 58.1 68.6
1997 53.5 67.5
1996 58.1 63.7
1995 55.8 62.5

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

GeoRank.org/economy/dominican-republic/uruguay | CC BY

The Economic Freedom Index for the Dominican Republic is 63.8, ranking 77/197, compared to 69.8 for Uruguay, ranking 39/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Dominican Republic Uruguay
Services, % of GDP
60.1%
2025
65.2%
2025
Industry, % of GDP
28.4%
2025
16.9%
2025
Agriculture, forestry, and fishing, % of GDP
4.6%
2025
6.38%
2025
GNI, Atlas method
$122B
2025
$81.3B
2025
GNI per capita, PPP
$26,980
2025
$36,330
2025
Total reserves including gold
$14.8B
2025
$19B
2025
Total reserves ranking
71/177
2025
67/177
2025
Net foreign direct investment
-$5.03B
2025
-$457M
2025
Net inflows of foreign direct investment
$4.48B
2024
-$3.94B
2024
Net outflows of foreign direct investment
-$47.3M
2024
-$1.37B
2024
Servicing debt to the IMF, % of GNI
5.61%
2024
n/a
Poverty at national poverty lines
17.3%
2025
17.3%
2024
Gross capital formation, % of GDP
24.7%
2025
16.2%
2025

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/dominican-republic/uruguay | 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 (1950–1998, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1997–2025, 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 (2021–2025, 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.