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Economy of France vs North Macedonia compared: GDP & Debt

Updated on by Georank team

France has a GDP of $3.16T compared to $16.7B for North Macedonia, ranking 7/197 and 138/197 by economy size, respectively.

France has $3.58T in government debt (116.3% of GDP), compared to $9.15B (52.9% of GDP) in North Macedonia.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

France
GDP, current $

GDP, constant 2015 $
North Macedonia
GDP, current $

GDP, constant 2015 $
Year GDP
France North Macedonia
Current $ Constant $ Current $ Constant $
1960 $61,756,878,990 $508,897,750,935 - -
1961 $66,806,595,975 $533,344,343,072 - -
1962 $74,888,595,286 $569,994,161,067 - -
1963 $83,957,182,115 $605,326,016,607 - -
1964 $93,079,224,076 $644,223,451,498 - -
1965 $100,522,559,916 $675,197,188,364 - -
1966 $108,928,356,519 $710,376,197,079 - -
1967 $117,751,396,249 $745,158,757,032 - -
1968 $128,427,504,709 $778,321,728,133 - -
1969 $140,361,802,782 $833,684,910,477 - -
1970 $146,926,998,937 $885,376,114,120 - -
1971 $164,238,872,973 $932,571,962,138 - -
1972 $201,621,751,625 $974,886,243,665 - -
1973 $262,343,828,816 $1,039,326,074,354 - -
1974 $283,102,178,123 $1,088,078,748,925 - -
1975 $356,780,728,163 $1,075,844,942,666 - -
1976 $368,488,292,816 $1,123,030,884,958 - -
1977 $406,736,454,934 $1,163,152,896,909 - -
1978 $501,724,418,605 $1,208,457,476,980 - -
1979 $608,218,624,730 $1,253,113,736,481 - -
1980 $694,529,183,483 $1,274,121,102,725 - -
1981 $609,184,791,792 $1,289,261,671,632 - -
1982 $578,152,310,610 $1,320,752,051,529 - -
1983 $553,356,312,936 $1,337,420,703,410 - -
1984 $525,033,325,828 $1,358,946,108,005 - -
1985 $547,220,981,165 $1,380,268,983,034 - -
1986 $764,946,585,851 $1,413,251,000,996 - -
1987 $926,320,855,615 $1,449,327,712,382 - -
1988 $1,010,827,662,152 $1,519,101,594,975 - -
1989 $1,016,742,237,302 $1,586,020,591,646 - -
1990 $1,257,649,439,827 $1,630,899,060,963 $4,699,646,643 $7,293,742,777
1991 $1,258,961,748,634 $1,651,067,777,785 $4,938,775,510 $6,843,662,858
1992 $1,389,663,073,110 $1,676,098,974,379 $2,436,849,342 $6,394,362,794
1993 $1,314,383,368,080 $1,670,081,815,759 $2,682,456,897 $5,916,750,488
1994 $1,385,822,778,828 $1,709,890,902,349 $3,559,608,640 $5,812,724,182
1995 $1,595,219,345,512 $1,749,300,344,480 $4,707,041,315 $5,747,928,136
1996 $1,598,889,216,566 $1,773,739,467,493 $4,642,021,256 $5,816,047,056
1997 $1,449,392,222,971 $1,818,562,957,062 $3,912,986,091 $5,899,797,048
1998 $1,496,906,382,032 $1,881,350,558,838 $3,765,745,023 $6,099,135,594
1999 $1,486,915,879,702 $1,945,303,460,550 $3,863,619,285 $6,363,778,789
2000 $1,360,959,069,477 $2,025,858,476,151 $3,772,859,034 $6,653,275,728
2001 $1,370,376,677,299 $2,064,338,989,613 $3,709,636,031 $6,449,202,687
2002 $1,492,427,756,382 $2,086,380,974,763 $4,018,365,747 $6,545,532,201
2003 $1,835,095,983,049 $2,106,573,536,968 $4,946,296,599 $6,691,013,308
2004 $2,109,792,297,237 $2,166,995,343,502 $5,682,784,472 $7,003,757,264
2005 $2,192,146,403,028 $2,207,920,477,337 $6,258,602,873 $7,334,620,965
2006 $2,317,861,544,691 $2,267,844,862,926 $6,861,226,972 $7,711,402,290
2007 $2,655,816,911,867 $2,325,232,266,329 $8,336,474,974 $8,210,598,903
2008 $2,926,802,941,586 $2,334,072,135,222 $9,909,552,435 $8,659,882,990
2009 $2,700,075,882,519 $2,268,145,064,849 $9,401,736,825 $8,628,827,363
2010 $2,646,230,027,988 $2,313,515,332,183 $9,407,170,321 $8,918,648,176
2011 $2,870,408,553,990 $2,369,909,039,106 $10,494,626,768 $9,127,334,380
2012 $2,683,007,095,787 $2,374,265,767,668 $9,745,261,301 $9,085,697,011
2013 $2,816,077,607,875 $2,392,826,743,357 $10,817,702,346 $9,351,477,060
2014 $2,861,236,112,552 $2,416,703,156,974 $11,362,265,253 $9,690,853,712
2015 $2,442,483,452,643 $2,442,483,452,643 $10,064,519,963 $10,064,519,963
2016 $2,470,407,619,777 $2,463,489,569,347 $10,672,467,073 $10,351,178,143
2017 $2,588,868,323,335 $2,514,819,204,088 $11,307,067,070 $10,463,154,366
2018 $2,781,576,320,884 $2,556,210,832,760 $12,683,068,114 $10,764,555,646
2019 $2,722,793,515,172 $2,608,036,638,906 $12,606,338,449 $11,185,494,934
2020 $2,647,926,055,110 $2,413,981,867,676 $12,361,036,914 $10,661,068,595
2021 $2,966,433,692,008 $2,580,120,255,052 $14,000,283,827 $11,141,955,230
2022 $2,796,302,210,399 $2,646,451,030,890 $13,932,436,550 $11,449,348,867
2023 $3,051,831,611,385 $2,671,234,714,487 $15,763,604,288 $11,686,641,441
2024 $3,162,079,073,496 $2,702,385,011,318 $16,685,236,492 $12,008,754,399

Economic indicators

France North Macedonia
Gross domestic product
$3.16T
2024
$16.7B
2024
GDP rank
7/197
2024
138/197
2024
GDP growth
3.61%
2023-2024
5.85%
2023-2024
GDP per capita
$46,150
2024
$9,310
2024
GDP per capita rank
27/197
2024
88/197
2024
GDP per capita, PPP
$61,322
2024
$26,587
2024
Government debt
$3.58T
2024
$9.15B
2024
Debt-to-GDP ratio
116.3%
2025
52.9%
2025
Government debt per person
$52,199
2024
$5,105
2024
Government debt per person rank
8/185
2024
78/185
2024
Average annual personal income after taxes
$33,898
2025
$8,472
2025
Market capitalization of domestic companies
$2.37T
2018
n/a
Number of millionaires
2,868,031
2024
n/a
Number of billionaires
52
2025
n/a
Income share by richest 10%
25%
2023
22.9%
2019
Income share by poorest 10%
3%
2023
1.9%
2019
Government expenditure, % of GDP
57.3%
2025
39.1%
2025
Consumer prices inflation
2%
2023-2024
3.9%
2024-2025
Central bank interest rate n/a
5.35%
2025
Unemployment rate
7.39%
2024
12.3%
2024
Population
68701054
1783115

GDP per capita in France vs North Macedonia

France's GDP per capita is $46,150, ranking 27/197, compared to $9,310 in North Macedonia, ranking 88/197. Adjusted for purchasing power (GDP per capita PPP), France ranks 29th at $61,322, while North Macedonia ranks 78th at $26,587.

France
GDP per capita

GDP per capita, PPP
North Macedonia
GDP per capita

GDP per capita, PPP
Year Current $
France North Macedonia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $1,303 - - -
1961 $1,395 - - -
1962 $1,548 - - -
1963 $1,718 - - -
1964 $1,884 - - -
1965 $2,015 - - -
1966 $2,165 - - -
1967 $2,321 - - -
1968 $2,513 - - -
1969 $2,724 - - -
1970 $2,825 - - -
1971 $3,128 - - -
1972 $3,807 - - -
1973 $4,914 - - -
1974 $5,267 - - -
1975 $6,607 - - -
1976 $6,795 - - -
1977 $7,465 - - -
1978 $9,167 - - -
1979 $11,063 - - -
1980 $12,565 - - -
1981 $10,956 - - -
1982 $10,360 - - -
1983 $9,862 - - -
1984 $9,312 - - -
1985 $9,657 - - -
1986 $13,430 - - -
1987 $16,176 - - -
1988 $17,550 - - -
1989 $17,547 - - -
1990 $21,586 $17,472 $2,277 $5,347
1991 $21,501 $18,178 $2,402 $5,206
1992 $23,615 $18,790 $1,199 $5,032
1993 $22,239 $19,071 $1,337 $4,828
1994 $23,360 $19,874 $1,786 $4,879
1995 $26,792 $20,688 $2,355 $4,911
1996 $26,758 $21,261 $2,307 $5,025
1997 $24,169 $22,185 $1,960 $5,226
1998 $24,869 $23,261 $1,876 $5,448
1999 $24,576 $24,204 $1,915 $5,724
2000 $22,341 $26,002 $1,862 $6,153
2001 $22,332 $27,350 $1,823 $6,052
2002 $24,145 $28,350 $1,989 $6,395
2003 $29,480 $28,028 $2,445 $6,609
2004 $33,645 $28,925 $2,819 $7,230
2005 $34,696 $30,431 $3,121 $7,972
2006 $36,432 $32,430 $3,440 $8,890
2007 $41,486 $34,067 $4,204 $9,639
2008 $45,465 $35,053 $5,026 $10,924
2009 $41,728 $34,667 $4,800 $11,526
2010 $40,695 $35,912 $4,833 $11,994
2011 $43,930 $37,510 $5,417 $12,421
2012 $40,864 $37,671 $5,050 $12,726
2013 $42,669 $39,583 $5,626 $13,663
2014 $43,148 $40,218 $5,925 $14,485
2015 $36,702 $40,916 $5,263 $15,038
2016 $37,024 $42,880 $5,598 $16,457
2017 $38,687 $44,469 $5,955 $17,161
2018 $41,418 $46,381 $6,714 $18,460
2019 $40,408 $51,130 $6,719 $20,222
2020 $39,170 $49,482 $6,660 $19,962
2021 $43,725 $52,517 $7,621 $22,144
2022 $41,083 $56,181 $7,606 $24,067
2023 $44,691 $58,318 $8,624 $24,390
2024 $46,150 $61,322 $9,310 $26,587

Spending and national debt comparison

In 2024, France's government spending was $1.81T, accounting for 57.3% of its GDP, while North Macedonia's spent $6.13B, or 39.1% of GDP.

Debt-to-GDP ratio is 116.3% in France and 52.9% in North Macedonia, ranking 12/185 and 101/185, respectively.

France
Government spending

Government debt
North Macedonia
Government spending

Government debt
Year % of GDP
France North Macedonia
Government spending Government debt Government spending Government debt
1960 22.2% 28.5% - -
1961 21.9% 26.3% - -
1962 21.7% 23.6% - -
1963 22.6% 22.2% - -
1964 21% 19.6% - -
1965 21.1% 17.6% - -
1966 21.4% 15.3% - -
1967 21.4% 16.1% - -
1968 22.7% 15.8% - -
1969 21.5% 14.4% - -
1970 20.5% 21% - -
1971 20% 20.1% - -
1972 19.8% 17.7% - -
1973 19.7% 15.8% - -
1974 19.9% 15.4% - -
1975 22% 16.1% - -
1976 21.7% 15.1% - -
1977 21.4% 15% - -
1978 44.7% 21.2% - -
1979 44.9% 21.1% - -
1980 46% 20.7% - -
1981 48.5% 22% - -
1982 49.9% 25.3% - -
1983 50.2% 26.6% - -
1984 51.2% 29% - -
1985 51.9% 30.6% - -
1986 51.3% 31.1% - -
1987 50.7% 33.4% - -
1988 50.1% 33.3% - -
1989 48.9% 34% - -
1990 51.6% 36.8% - -
1991 52.7% 37.8% - -
1992 54% 41.7% - -
1993 56.5% 48.2% - -
1994 55.9% 51.6% - -
1995 56% 57.8% - -
1996 56% 60.6% - -
1997 55.6% 62% 32.9% 29.3%
1998 54% 62.1% 32.8% 33.1%
1999 53.7% 61.4% 33.2% 30.4%
2000 52.6% 59.7% 32% 45.6%
2001 52.8% 59.3% 37.4% 45.2%
2002 53.9% 61.3% 38.2% 40.5%
2003 54.4% 65.4% 36% 36.5%
2004 54% 66.9% 34.1% 34.6%
2005 54.3% 68.2% 32.5% 36.7%
2006 53.7% 65.4% 31.5% 30.6%
2007 53.6% 65.5% 31.4% 23.5%
2008 54.3% 69.8% 33.8% 20.6%
2009 58% 84.1% 33.6% 23.7%
2010 57.7% 86.3% 32.5% 24.3%
2011 57% 88.7% 31.9% 27.7%
2012 57.9% 91.7% 33.3% 33.7%
2013 58.6% 94.5% 31.7% 34%
2014 58.4% 96.1% 31.7% 38%
2015 57.6% 96.9% 32.2% 38%
2016 57.4% 98.1% 31.1% 39.7%
2017 57.7% 98.7% 31.8% 39.4%
2018 56.4% 98.5% 30.3% 40.4%
2019 55.3% 98.1% 31.4% 40.4%
2020 61.7% 114.8% 36.4% 50.8%
2021 59.5% 112.7% 35.3% 52.7%
2022 58.4% 111.3% 35% 50.4%
2023 56.9% 109.7% 35.5% 50.8%
2024 57.2% 113.1% 36.7% 54.8%
2025 57.3% 116.3% 39.1% 52.9%

Government deficit by year

In 2024, France's government deficit, the difference between spending and revenue, was -$183B, equivalent to -5.79% of GDP. This compares to North Macedonia's deficit of -$742M, or -4.45% of GDP.

Over the past 28 years, France recorded a fiscal deficit in 28 of those years, while North Macedonia ran a deficit in 23 years. On average, France posted an annual deficit equal to -4.13% of GDP, compared to deficit of -2.52% of GDP for North Macedonia.

Deficit/surplus
France

North Macedonia
Year Deficit/surplus, % of GDP
France North Macedonia
1880 0.65% -
1881 0.64% -
1882 -0.15% -
1883 -0.23% -
1884 -0.35% -
1885 -0.59% -
1886 -0.5% -
1887 -0.07% -
1888 0.18% -
1889 0.09% -
1890 0.31% -
1891 0.36% -
1892 -0.03% -
1893 -0.3% -
1894 -0.08% -
1895 -0.07% -
1896 -0.03% -
1897 0.01% -
1898 0.29% -
1899 0.21% -
1900 0.21% -
1901 -0.39% -
1902 -0.37% -
1903 0.21% -
1904 0.3% -
1905 0.18% -
1906 -0.04% -
1907 0.23% -
1908 -0.15% -
1909 -0.11% -
1910 -0.12% -
1911 0.31% -
1912 0.23% -
1913 0.05% -
1914 0.05% -
1915 0.05% -
1916 0.05% -
1917 0.05% -
1918 0.05% -
1919 -2.65% -
1920 6.6% -
1921 4.63% -
1922 2.42% -
1923 1.85% -
1924 2.11% -
1925 -0.87% -
1926 -0.02% -
1927 -0.04% -
1928 1.13% -
1929 1.48% -
1930 -1.65% -
1931 -2.06% -
1932 -1.86% -
1933 -4.96% -
1934 -4.31% -
1935 -4.22% -
1936 -4.76% -
1937 -6.89% -
1938 -6.89% -
1939 -6.89% -
1940 -6.89% -
1941 -6.89% -
1942 -6.89% -
1943 -6.89% -
1944 -6.89% -
1945 -6.89% -
1946 -8.1% -
1947 -7.6% -
1948 -9.11% -
1949 -7.31% -
1950 -5.56% -
1951 -4.42% -
1952 -6.82% -
1953 -4.79% -
1954 -0.78% -
1955 -1.04% -
1956 -2.62% -
1957 -1.99% -
1958 0.08% -
1959 0.56% -
1960 -1.95% -
1961 -1.36% -
1962 -1.53% -
1963 -2.24% -
1964 -0.25% -
1965 -0.07% -
1966 -0.57% -
1967 -0.8% -
1968 -2.54% -
1969 -0.49% -
1970 0.02% -
1971 -0.13% -
1972 1.94% -
1973 1.97% -
1974 3.05% -
1975 -0.28% -
1976 1.01% -
1977 0.9% -
1978 -1.73% -
1979 -0.36% -
1980 -0.27% -
1981 -2.39% -
1982 -2.91% -
1983 -2.58% -
1984 -2.8% -
1985 -3.08% -
1986 -3.3% -
1987 -2.13% -
1988 -2.7% -
1989 -1.9% -
1990 -2.45% -
1991 -2.89% -
1992 -4.64% -
1993 -6.4% -
1994 -5.46% -
1995 -5.11% -
1996 -3.89% -
1997 -3.71% -0.36%
1998 -2.39% -1.63%
1999 -1.55% 0.03%
2000 -1.32% 2.37%
2001 -1.42% -5.88%
2002 -3.18% -5.24%
2003 -4.09% -0.07%
2004 -3.55% 0.37%
2005 -3.5% 0.21%
2006 -2.66% -0.51%
2007 -2.99% 0.58%
2008 -3.5% -0.93%
2009 -7.38% -2.63%
2010 -7.16% -2.41%
2011 -5.3% -2.47%
2012 -5.17% -3.81%
2013 -4.94% -3.84%
2014 -4.57% -4.19%
2015 -3.89% -3.48%
2016 -3.76% -2.7%
2017 -3.36% -2.73%
2018 -2.32% -1.76%
2019 -2.39% -1.97%
2020 -8.93% -8.05%
2021 -6.58% -5.32%
2022 -4.74% -5.23%
2023 -5.45% -4.61%
2024 -5.79% -4.45%
2025 -5.46% -5.04%

Inflation comparison by year

Over the past 29 years, France has recorded an average annual inflation rate of 1.62%, compared with 2.62% in North Macedonia. In 2024, inflation was 2% in France and 3.9% in North Macedonia.

Inflation
France

North Macedonia
Year Inflation
France North Macedonia France North Macedonia
1996 1.98% 2.5%
1997 1.2% 1.3%
1998 0.65% 0.5%
1999 0.54% -1.3%
2000 1.68% 6.6%
2001 1.63% 5.2%
2002 1.92% 1.1%
2003 2.1% 0.9%
2004 2.14% -0.4%
2005 1.75% 0.5%
2006 1.68% 3.2%
2007 1.49% 2.3%
2008 2.81% 8.3%
2009 0.09% -0.7%
2010 1.53% 1.5%
2011 2.11% 3.9%
2012 1.95% 3.3%
2013 0.86% 2.8%
2014 0.51% -0.3%
2015 0.04% -0.3%
2016 0.18% -0.2%
2017 1.03% 1.4%
2018 1.85% 1.5%
2019 1.11% 0.8%
2020 0.48% 1.2%
2021 1.64% 3.2%
2022 5.22% 14.2%
2023 4.88% 9.4%
2024 2% 3.5%
2025 - 3.9%

Top exports between countries

France
Export category Export value
Machinery & equipment $84.7M
Chemicals & pharma $22.5M
Processed food, beverages & tobacco $14.3M
Textiles & consumer goods $5.42M
Animal & marine products $2.8M
Metals $2.33M
Raw materials & minerals $1.87M
Wood & paper products $1.61M
Raw agricultural goods $541K
Miscellaneous $408K
North Macedonia
Export category Export value
Machinery & equipment $66.7M
Textiles & consumer goods $23.6M
Metals $7.12M
Processed food, beverages & tobacco $4.94M
Chemicals & pharma $2.64M
Raw agricultural goods $1.48M
Raw materials & minerals $834K
Miscellaneous $573K
Wood & paper products $273K
Weapons & explosives $79K

Balance of trade

France North Macedonia
Current account balance
$2.69B
2024
-$374M
2024
Current account balance ranking
39/189
2024
101/189
2024
Current account balance, % of GDP
+0.09%
2024
-2.24%
2024
Goods imports
$733B
2024
$10.6B
2024
Goods exports
$668B
2024
$7.28B
2024
Service imports
$341B
2024
$2.01B
2024
Service exports
$403B
2024
$3.16B
2024
Imports of goods and services, % of GDP
34%
2024
75.8%
2024
Exports of goods and services, % of GDP
33.2%
2024
62.7%
2024

Economic freedom indices

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

France North Macedonia
Economic freedom 64.4 63.2
Economic freedom ranking 69/197 80/197
Property rights 92.9 59.1
Government integrity 74.3 43.6
Judicial effectiveness 84.2 49.7
Tax burden 54.3 94.8
Government spending 0 60.6
Fiscal health 30 50.9
Business freedom 81.9 74.2
Labor freedom 60.2 57.6
Monetary freedom 70.3 65
Trade freedom 79.6 77.8
Investment freedom 75 65
Financial freedom 70 60

Economic freedom by year comparison

The Economic Freedom Index for France is 64.4, ranking 69/197, compared to 63.2 for North Macedonia, ranking 80/197. The chart below displays a comparison of annual changes in economic freedom indexes.

France
North Macedonia
Year Economic freedom index
France North Macedonia
1995 64.4 -
1996 63.7 -
1997 59.1 -
1998 58.9 -
1999 59.1 -
2000 57.4 -
2001 58 -
2002 58 58
2003 59.2 60.1
2004 60.9 56.8
2005 60.5 56.1
2006 61.1 59.2
2007 62.1 60.6
2008 64.7 61.1
2009 63.3 61.2
2010 64.2 65.7
2011 64.6 66
2012 63.2 68.5
2013 64.1 68.2
2014 63.5 68.6
2015 62.5 67.1
2016 62.3 67.5
2017 63.3 70.7
2018 63.9 71.3
2019 63.8 71.1
2020 66 69.5
2021 65.7 68.6
2022 65.9 65.7
2023 63.6 63.7
2024 62.5 61.4
2025 64.4 63.2

More economic indicators

France North Macedonia
Services, % of GDP
70.4%
2024
59.2%
2024
Industry, % of GDP
17.5%
2024
22.7%
2024
Agriculture, forestry, and fishing, % of GDP
1.43%
2024
5.97%
2024
GNI, Atlas method
$3.1T
2024
$15B
2024
GNI per capita, PPP
$62,620
2024
$25,210
2024
Total reserves including gold
$283B
2024
$5.25B
2024
Total reserves ranking
13/177
2024
97/177
2024
Net foreign direct investment
-$10.3B
2024
-$1.18B
2024
Net inflows of foreign direct investment
$52.1B
2024
$1.17B
2024
Net outflows of foreign direct investment
$41.7B
2024
-$2.99M
2024
Servicing debt to the IMF, % of GNI
n/a
11.6%
2023
Poverty at national poverty lines
15.6%
2021
22.2%
2022
Gross capital formation, % of GDP
21.9%
2024
28.4%
2024

GDP per capita map

GDP per capita

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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.