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France economy ranking: GDP & GDP per capita, debt

Updated on by Georank team

France ranked 7/197 by economy size with a GDP of $3.16T and 27/197 by GDP per capita at $46,103. France has $3.58T in government debt, with a debt-to-GDP ratio of 113.1%.

In 2024, France made up 2.85% of the world's economy, compared to 4.53% in 1960.

France GDP & GDP growth by year

GDP, current $
Real growth
1x
Year GDP GDP growth
2024 $3,160,442,622,465 1.19%
2023 $3,056,250,648,138 1.44%
2022 $2,794,788,137,067 2.72%
2021 $2,966,433,692,008 6.88%
2020 $2,647,926,055,110 -7.44%
2019 $2,722,793,515,172 2.03%
2018 $2,781,576,320,884 1.65%
2017 $2,588,868,323,335 2.08%
2016 $2,470,407,619,777 0.86%
2015 $2,442,483,452,643 1.07%
2014 $2,861,236,112,552 1%
2013 $2,816,077,607,875 0.78%
2012 $2,683,007,095,787 0.18%
2011 $2,870,408,553,990 2.44%
2010 $2,646,230,027,988 2%
2009 $2,700,075,882,519 -2.82%
2008 $2,926,802,941,586 0.38%
2007 $2,655,816,911,867 2.53%
2006 $2,317,861,544,691 2.71%
2005 $2,192,146,403,028 1.89%
2004 $2,109,792,297,237 2.87%
2003 $1,835,095,983,049 0.97%
2002 $1,492,427,756,382 1.07%
2001 $1,370,376,677,299 1.9%
2000 $1,360,959,069,477 4.14%
1999 $1,486,915,879,702 3.4%
1998 $1,496,906,382,032 3.45%
1997 $1,449,392,222,971 2.53%
1996 $1,598,889,216,566 1.4%
1995 $1,595,219,345,512 2.3%
1994 $1,385,822,778,828 2.38%
1993 $1,314,383,368,080 -0.36%
1992 $1,389,663,073,110 1.52%
1991 $1,258,961,748,634 1.24%
1990 $1,257,649,439,827 2.83%
1989 $1,016,742,237,302 4.41%
1988 $1,010,827,662,152 4.81%
1987 $926,320,855,615 2.55%
1986 $764,946,585,851 2.39%
1985 $547,220,981,165 1.57%
1984 $525,033,325,828 1.61%
1983 $553,356,312,936 1.26%
1982 $578,152,310,610 2.44%
1981 $609,184,791,792 1.19%
1980 $694,529,183,483 1.68%
1979 $608,218,624,730 3.7%
1978 $501,724,418,605 3.95%
1977 $406,401,711,688 3.55%
1976 $368,363,152,144 4.34%
1975 $357,324,307,786 -0.95%
1974 $282,739,225,314 4.41%
1973 $261,970,536,240 6.19%
1972 $201,738,881,664 4.51%
1971 $164,694,210,962 5.29%
1970 $147,312,861,698 6.2%
1969 $140,660,914,841 7.09%
1968 $128,710,572,572 4.54%
1967 $118,088,635,381 4.8%
1966 $109,306,730,313 5.16%
1965 $100,927,668,584 4.84%
1964 $93,424,179,943 6.58%
1963 $84,227,606,650 6.1%
1962 $75,196,980,365 6.86%
1961 $67,158,050,215 4.95%
1960 $61,959,085,885 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/france | CC BY

France GDP per capita by year

GDP per capita
GDP per capita, PPP
1x
Year Current $
GDP per capita GDP per capita, PPP
2024 $46,103 $62,557
2023 $44,700 $60,839
2022 $40,989 $57,043
2021 $43,725 $52,517
2020 $39,170 $49,482
2019 $40,408 $51,130
2018 $41,418 $46,381
2017 $38,687 $44,469
2016 $37,024 $42,880
2015 $36,702 $40,905
2014 $43,148 $40,218
2013 $42,669 $39,583
2012 $40,864 $37,671
2011 $43,930 $37,510
2010 $40,695 $35,908
2009 $41,728 $34,685
2008 $45,465 $35,053
2007 $41,486 $34,066
2006 $36,432 $32,424
2005 $34,696 $30,431
2004 $33,645 $28,921
2003 $29,480 $28,024
2002 $24,145 $28,350
2001 $22,332 $27,347
2000 $22,341 $26,007
1999 $24,576 $24,204
1998 $24,869 $23,263
1997 $24,169 $22,190
1996 $26,758 $21,268
1995 $26,792 $20,701
1994 $23,360 $19,892
1993 $22,239 $19,094
1992 $23,615 $18,801
1991 $21,501 $18,198
1990 $21,586 $17,475
1989 $17,547 -
1988 $17,550 -
1987 $16,176 -
1986 $13,430 -
1985 $9,657 -
1984 $9,312 -
1983 $9,862 -
1982 $10,360 -
1981 $10,956 -
1980 $12,565 -
1979 $11,063 -
1978 $9,167 -
1977 $7,459 -
1976 $6,792 -
1975 $6,617 -
1974 $5,261 -
1973 $4,907 -
1972 $3,809 -
1971 $3,137 -
1970 $2,833 -
1969 $2,729 -
1968 $2,518 -
1967 $2,328 -
1966 $2,173 -
1965 $2,024 -
1964 $1,891 -
1963 $1,723 -
1962 $1,554 -
1961 $1,402 -
1960 $1,307 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/france | CC BY

France has a GDP per capita of $46,103, ranking 27/197, a GDP per capita based on purchasing power parity (PPP) of $62,557, ranking 30/197, and a median annual after tax income of $35,669, ranking 24/197.

France GDP rankings by year

GDP
GDP per capita
GDP per capita, PPP
1x
Year Rank
GDP GDP per capita GDP per capita, PPP
2024 7 24 26
2023 7 27 26
2022 7 27 28
2021 7 26 26
2020 7 26 24
2019 7 28 25
2018 6 27 28
2017 7 28 29
2016 6 28 27
2015 6 26 29
2014 6 27 29
2013 5 27 30
2012 6 28 30
2011 5 27 29
2010 5 25 29
2009 5 20 30
2008 6 25 31
2007 6 24 31
2006 6 25 30
2005 6 24 28
2004 5 21 29
2003 5 22 29
2002 5 24 29
2001 5 24 29
2000 5 24 30
1999 5 20 31
1998 5 19 29
1997 5 21 29
1996 4 16 28
1995 4 16 25
1994 4 16 25
1993 4 17 25
1992 4 15 25
1991 4 19 26
1990 4 16 26
1989 4 17 -
1988 4 17 -
1987 4 18 -
1986 4 17 -
1985 4 20 -
1984 4 22 -
1983 4 22 -
1982 4 20 -
1981 4 18 -
1980 4 17 -
1979 4 19 -
1978 4 19 -
1977 4 22 -
1976 4 21 -
1975 4 20 -
1974 4 23 -
1973 4 16 -
1972 4 17 -
1971 4 16 -
1970 4 15 -
1969 4 11 -
1968 4 11 -
1967 4 12 -
1966 4 13 -
1965 4 13 -
1964 4 12 -
1963 4 13 -
1962 4 13 -
1961 4 14 -
1960 4 14 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/france | CC BY

Compared with 2000, in 2024 France is ranked 7th out of 182 by GDP (down from 5th), 24th by GDP per capita (unchanged from 24th), and 26th by GDP per capita PPP (up from 30th).

Economic indicators

France Rank
Gross domestic product
$3.16T
2024
7/197
GDP growth
1.19%
2023-2024
154/194
GDP per capita
$46,103
2024
27/197
GDP per capita, PPP
$62,557
2024
30/197
Government debt
$3.58T
2024
5/185
Debt-to-GDP ratio
113.1%
2024
14/185
Government debt per person
$52,165
2024
8/185
Average annual personal income after taxes
$35,669
2026
24/197
Listed domestic companies
457
2018
18/103
Market capitalization of domestic companies
$2.37T
2018
8/100
Number of millionaires
2,897,000
2025
3/35
Millionaire frequency
1 in 18
2025
11/35
Number of billionaires
52
2025
11/78
Billionaire frequency
1 in 1,018,903
2025
32/78
Income share by richest 10%
25%
2023
116/169
Income share by poorest 10%
3%
2023
59/169
Government expenditure, % of GDP
57.2%
2024
10/195
Consumer prices inflation
2%
2023-2024
142/195
Unemployment rate
7.44%
2024
60/196
Population
68788006
23/197

Government spending, deficit, and debt by year

Spending
Debt
Deficit/surplus
1x
Year % of GDP
Government spending Government debt Government deficit/surplus
2024 57.2% 113.1% -5.77%
2023 56.8% 109.6% -5.44%
2022 58.4% 111.4% -4.74%
2021 59.5% 112.8% -6.58%
2020 61.7% 114.9% -8.93%
2019 55.3% 98.1% -2.39%
2018 56.4% 98.5% -2.32%
2017 57.7% 98.7% -3.36%
2016 57.4% 98.1% -3.76%
2015 57.6% 96.9% -3.89%
2014 58.4% 96.1% -4.57%
2013 58.6% 94.5% -4.94%
2012 57.9% 91.7% -5.17%
2011 57% 88.7% -5.3%
2010 57.7% 86.3% -7.16%
2009 58% 84.1% -7.38%
2008 54.3% 69.8% -3.5%
2007 53.6% 65.5% -2.99%
2006 53.7% 65.4% -2.66%
2005 54.3% 68.2% -3.5%
2004 54% 66.9% -3.55%
2003 54.4% 65.4% -4.09%
2002 53.9% 61.3% -3.18%
2001 52.8% 59.3% -1.42%
2000 52.6% 59.7% -1.32%
1999 53.7% 61.4% -1.55%
1998 54% 62.1% -2.39%
1997 55.6% 62% -3.71%
1996 56% 60.6% -3.89%
1995 56% 57.8% -5.11%
1994 55.9% 51.6% -5.46%
1993 56.5% 48.2% -6.4%
1992 54% 41.7% -4.64%
1991 52.7% 37.8% -2.89%
1990 51.6% 36.8% -2.45%
1989 48.9% 34% -1.9%
1988 50.1% 33.3% -2.7%
1987 50.7% 33.4% -2.13%
1986 51.3% 31.1% -3.3%
1985 51.9% 30.6% -3.08%
1984 51.2% 29% -2.8%
1983 50.2% 26.6% -2.58%
1982 49.9% 25.3% -2.91%
1981 48.5% 22% -2.39%
1980 46% 20.7% -0.27%
1979 44.9% 21.1% -0.36%
1978 44.7% 21.2% -1.73%
1977 21.4% 15% 0.9%
1976 21.7% 15.1% 1.01%
1975 22% 16.1% -0.28%
1974 19.9% 15.4% 3.05%
1973 19.7% 15.8% 1.97%
1972 19.8% 17.7% 1.94%
1971 20% 20.1% -0.13%
1970 20.5% 21% 0.02%
1969 21.5% 14.4% -0.49%
1968 22.7% 15.8% -2.54%
1967 21.4% 16.1% -0.8%
1966 21.4% 15.3% -0.57%
1965 21.1% 17.6% -0.07%
1964 21% 19.6% -0.25%
1963 22.6% 22.2% -2.24%
1962 21.7% 23.6% -1.53%
1961 21.9% 26.3% -1.36%
1960 22.2% 28.5% -1.95%
1959 19.9% 31.5% 0.56%
1958 19.6% 32% 0.08%
1957 21.1% 32.6% -1.99%
1956 21.4% 33% -2.62%
1955 19.9% 33.3% -1.04%
1954 22.2% 34.4% -0.78%
1953 25.2% 35% -4.79%
1952 25.3% 32.9% -6.82%
1951 23.6% 33.9% -4.42%
1950 24.1% 40% -5.56%
1949 25.6% 44.3% -7.31%
1948 24.7% 47.5% -9.11%
1947 25.2% 57.2% -7.6%
1946 22.1% 64% -8.1%
1945 - - -
1944 - - -
1943 - - -
1942 - - -
1941 - - -
1940 - - -
1939 - - -
1938 - - -
1937 17.6% - -6.89%
1936 15.9% - -4.76%
1935 20.2% - -4.22%
1934 24.4% - -4.31%
1933 23.9% - -4.96%
1932 16.3% 172.7% -1.86%
1931 20.1% 161% -2.06%
1930 18.6% 143.8% -1.65%
1929 17.8% 138.6% 1.48%
1928 12.8% 142.3% 1.13%
1927 13.9% 157.5% -0.04%
1926 13.8% 144.7% -0.02%
1925 11.2% 197.2% -0.87%
1924 - 192.4% -
1923 - 216.8% -
1922 - 235.9% -
1921 - 237% -
1920 - 169.6% -
1919 - - -
1918 - - -
1917 - - -
1916 - - -
1915 - - -
1914 - - -
1913 10.2% 66.3% 0.05%
1912 9.61% 66.6% 0.23%
1911 10.1% 72.6% 0.31%
1910 10.6% 79.6% -0.12%
1909 10.4% 82% -0.11%
1908 10.8% 81.4% -0.15%
1907 10% 77.9% 0.23%
1906 10.8% 85.2% -0.04%
1905 11.2% 92.4% 0.18%
1904 11% 92.1% 0.3%
1903 10.6% 89.6% 0.21%
1902 11.6% 95.2% -0.37%
1901 12.1% 98.1% -0.39%
1900 11.4% 91.7% 0.21%
1899 11% 92.3% 0.21%
1898 11.1% 93.9% 0.29%
1897 11.6% 98.9% 0.01%
1896 12% 105.1% -0.03%
1895 12.6% 114.5% -0.07%
1894 12.3% 109.4% -0.08%
1893 12.3% 110.2% -0.3%
1892 11.8% 106.7% -0.03%
1891 11.1% 103.9% 0.36%
1890 11.4% 104% 0.31%
1889 11.8% 109.6% 0.09%
1888 12.5% 116.4% 0.18%
1887 13% 117.1% -0.07%
1886 13.1% 113.9% -0.5%
1885 13.8% 112.6% -0.59%
1884 13.6% 105.1% -0.35%
1883 13.6% 97% -0.23%
1882 13.2% 90.1% -0.15%
1881 13.6% 95.5% 0.64%
1880 13.2% 95.6% 0.65%

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/france | CC BY

This chart shows France's government spending, budget balance, and debt over time, each expressed as a share of GDP.

Over the past 50 years, France recorded a fiscal deficit in 48 of them, with an average annual deficit equal to 3.42% of GDP. In 2024, government spending reached $1.81T (57.2% of GDP), with a deficit of 5.77%.

The national debt reached $3.58T, ranking 5th out of 185 countries by total size, with a debt-to-GDP ratio of 113.1%, ranking 14th.

Inflation rate by year

1x
Year Inflation
2024 2%
2023 4.88%
2022 5.22%
2021 1.64%
2020 0.48%
2019 1.11%
2018 1.85%
2017 1.03%
2016 0.18%
2015 0.04%
2014 0.51%
2013 0.86%
2012 1.95%
2011 2.11%
2010 1.53%
2009 0.09%
2008 2.81%
2007 1.49%
2006 1.68%
2005 1.75%
2004 2.14%
2003 2.1%
2002 1.92%
2001 1.63%
2000 1.68%
1999 0.54%
1998 0.65%
1997 1.2%
1996 1.98%
1995 1.8%
1994 1.66%
1993 2.1%
1992 2.36%
1991 3.21%
1990 3.19%
1989 3.5%
1988 2.7%
1987 3.29%
1986 2.54%
1985 5.83%
1984 7.67%
1983 9.46%
1982 12%
1981 13.3%
1980 13.6%
1979 10.6%
1978 9.25%
1977 9.49%
1976 9.63%
1975 11.7%
1974 13.6%
1973 7.38%
1972 6.06%
1971 5.4%
1970 5.3%
1969 6.05%
1968 4.54%
1967 2.79%
1966 2.6%
1965 2.7%
1964 3.21%
1963 5%
1962 5.33%
1961 2.4%
1960 4.14%

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/france | CC BY

Over the past 20 years, France has had an average annual inflation rate of 1.66%. In 2024, inflation was 2%. The bar chart above shows consumer price inflation by year.

Balance of trade

France Rank
Current account balance
$2.69B
2024
42/190
Current account balance, % of GDP
+0.09%
2024
76/190
Goods imports
$733B
2024
5/189
Goods exports
$668B
2024
7/189
Service imports
$341B
2024
7/189
Service exports
$403B
2024
5/189
Imports of goods and services, % of GDP
34.2%
2024
112/181
Exports of goods and services, % of GDP
33.9%
2024
97/193

France top 10 trading partners

France's biggest trading partner accounting for 12.6% of all exports and imports is Germany, with a trade balance between the two of -$13.1B: France exports $119B worth of goods and services to Germany and imports $132B.

Below is the list of the top 10 trade partners of France.

Rank Country Trade value Share of total trade Export to Import from Top export to Top import from
1 Germany $251B 12.6% $119B $132B Machinery & equipment Machinery & equipment
2 United States $184B 9.29% $97.7B $86.3B Machinery & equipment Machinery & equipment
3 Belgium $145B 7.3% $71.3B $73.4B Machinery & equipment Raw materials & minerals
4 United Kingdom $138B 6.95% $78.4B $59.4B Business & finance services Business & finance services
5 Italy $137B 6.92% $66.5B $70.6B Machinery & equipment Machinery & equipment
6 Spain $137B 6.91% $65.4B $71.5B Machinery & equipment Machinery & equipment
7 China $118B 5.97% $34.5B $83.7B Machinery & equipment Machinery & equipment
8 Netherlands $95.9B 4.84% $45.4B $50.4B Transport & tourism services Business & finance services
9 Switzerland $76.4B 3.85% $41.9B $34.5B Transport & tourism services Precious metals & jewellery
10 Ireland $51.2B 2.58% $21.3B $29.9B Business & finance services Business & finance services

Top 10 exports

France Rank
Machinery & equipment $239B 10/193
Business & finance services $147B 4/188
Transport & tourism services $139B 2/188
Chemicals & pharma $126B 7/193
Textiles & consumer goods $55.2B 6/193
Processed food, beverages & tobacco $50.5B 5/192
IT & IP services $44.2B 8/183
Raw materials & minerals $42.5B 27/193
Metals $40.2B 10/192
Manufacturing & construction services $29.6B 2/164

Top 10 imports

France Rank
Machinery & equipment $278B 6/193
Business & finance services $125B 4/188
Transport & tourism services $121B 4/188
Raw materials & minerals $111B 8/193
Chemicals & pharma $103B 6/193
Textiles & consumer goods $77.5B 3/193
IT & IP services $49.8B 4/182
Metals $47.4B 6/193
Processed food, beverages & tobacco $41.8B 6/193
Manufacturing & construction services $24.7B 1/163

Economic freedom indices

France Rank
Economic freedom 64.6 72/197
Property rights 91.2 18/182
Government integrity 73.4 24/182
Judicial effectiveness 84.7 26/182
Tax burden 54.6 175/182
Government spending 0.9 172/180
Fiscal health 34.8 143/181
Business freedom 78.4 38/182
Labor freedom 59.1 62/182
Monetary freedom 73.2 97/180
Trade freedom 79.4 39/181
Investment freedom 75 21/181
Financial freedom 70 26/181

Economic freedom by year

1x
Year Index
Economic freedom Judicial effectiveness Tax burden Government spending Fiscal health
2026 64.6 84.7 54.6 0.9 34.8
2025 64.4 84.2 54.3 0 30
2024 62.5 84.2 53.1 0 6.9
2023 63.6 75.5 52.9 0 20
2022 65.9 85.5 52.1 0.5 39.1
2021 65.7 69.2 50.7 6.3 69
2020 66 71.2 48.8 4.5 67.1
2019 63.8 66.1 48.4 3.9 64.9
2018 63.9 72.7 47.3 2.7 60.8
2017 63.3 72.7 47.6 2 57
2016 62.3 - 47.7 2.5 -
2015 62.5 - 47.5 2.5 -
2014 63.5 - 48.4 5.6 -
2013 64.1 - 53 5.6 -
2012 63.2 - 53.8 5.3 -
2011 64.6 - 52.3 16.4 -
2010 64.2 - 51.9 17.9 -
2009 63.3 - 50.9 14.5 -
2008 64.7 - 53.2 13.2 -
2007 62.1 - 46.3 13.5 -
2006 61.1 - 46.6 11.2 -
2005 60.5 - 44.8 10.9 -
2004 60.9 - 44.3 14.5 -
2003 59.2 - 41.3 15.7 -
2002 58 - 37.2 15.7 -
2001 58 - 33.9 18.9 -
2000 57.4 - 35.1 12.5 -
1999 59.1 - 42.4 7.6 -
1998 58.9 - 38.2 8.6 -
1997 59.1 - 38.1 9.6 -
1996 63.7 - 60.6 8.3 -
1995 64.4 - 60.8 15.7 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/france | CC BY

France is ranked 65/174 for economic freedom with a score of 64.6, compared to 66/162 and a score of 61.1 in 2006.

Other economic metrics

France Rank
Services, % of GDP
70.9%
2024
23/191
Industry, % of GDP
17.2%
2024
149/194
Agriculture, forestry, and fishing, % of GDP
1.3%
2024
163/193
GNI, Atlas method
$3.1T
2024
7/194
GNI per capita, PPP
$63,880
2024
23/191
Total reserves including gold
$283B
2024
13/177
Net foreign direct investment
-$10.3B
2024
179/189
Net inflows of foreign direct investment
$52.1B
2024
7/193
Net outflows of foreign direct investment
$41.7B
2024
13/193
Poverty at national poverty lines
15.6%
2021
127/176
Gross capital formation, % of GDP
21.5%
2024
106/178

Compare France vs other countries

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/france | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2023–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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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.

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.