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Economy of France vs Qatar compared: GDP & Debt

Updated on by Georank

France has a GDP of $3.37T compared to $216B for Qatar, ranking 7/197 and 56/197 by economy size, respectively.

France has $3.9T in government debt (116% of GDP), compared to $89.2B (41.4% of GDP) in Qatar.

France vs Qatar GDP by year

France
Qatar
1x
Year GDP, current $
France Qatar
2025 $3,366,315,927,447 $215,559,615,385
2024 $3,160,442,622,465 $216,294,505,495
2023 $3,056,250,648,138 $213,002,809,341
2022 $2,794,788,137,067 $235,709,325,714
2021 $2,966,433,692,008 $179,732,009,560
2020 $2,647,926,055,110 $144,411,363,352
2019 $2,722,793,515,172 $176,371,267,692
2018 $2,781,576,320,884 $183,334,953,819
2017 $2,588,868,323,335 $161,099,122,225
2016 $2,470,407,619,777 $151,732,181,868
2015 $2,442,483,452,643 $161,739,955,577
2014 $2,861,236,112,552 $206,224,598,571
2013 $2,816,077,607,875 $198,727,642,967
2012 $2,683,007,095,787 $186,833,502,363
2011 $2,870,408,553,990 $167,775,274,725
2010 $2,646,230,027,988 $125,122,252,747
2009 $2,700,075,882,519 $97,798,351,648
2008 $2,926,802,941,586 $115,269,780,220
2007 $2,655,816,911,867 $79,711,813,187
2006 $2,317,861,544,691 $60,882,142,857
2005 $2,192,146,403,028 $44,530,494,505
2004 $2,109,792,297,237 $31,734,065,934
2003 $1,835,095,983,049 $23,533,791,209
2002 $1,492,427,756,382 $19,363,736,264
2001 $1,370,376,677,299 $17,538,461,538
2000 $1,360,959,069,477 $17,759,890,110
1999 $1,486,915,879,702 $12,393,131,868
1998 $1,496,906,382,032 $10,255,494,505
1997 $1,449,392,222,971 $11,297,802,198
1996 $1,598,889,216,566 $9,059,340,659
1995 $1,595,219,345,512 $8,137,912,088
1994 $1,385,822,778,828 $7,374,450,549
1993 $1,314,383,368,080 $7,156,593,407
1992 $1,389,663,073,110 $7,646,153,846
1991 $1,258,961,748,634 $6,883,516,484
1990 $1,257,649,439,827 $7,360,439,560
1989 $1,016,742,237,302 $6,487,912,088
1988 $1,010,827,662,152 $6,038,186,813
1987 $926,320,855,615 $5,446,428,571
1986 $764,946,585,851 $5,053,021,978
1985 $547,220,981,165 $6,153,296,703
1984 $525,033,325,828 $6,870,329,670
1983 $553,356,312,936 $6,484,890,110
1982 $578,152,310,610 $7,611,263,736
1981 $609,184,791,792 $8,672,527,473
1980 $694,529,183,483 $7,837,915,956
1979 $608,218,624,730 $5,632,962,997
1978 $501,724,418,605 $4,052,000,413
1977 $406,401,711,688 $3,617,564,638
1976 $368,363,152,144 $3,284,273,987
1975 $357,324,307,786 $2,512,773,166
1974 $282,739,225,314 $2,401,403,227
1973 $261,970,536,240 $793,885,560
1972 $201,738,881,664 $510,262,500
1971 $164,694,210,962 $387,703,106
1970 $147,312,861,698 $301,791,302
1969 $140,660,914,841 -
1968 $128,710,572,572 -
1967 $118,088,635,381 -
1966 $109,306,730,313 -
1965 $100,927,668,584 -
1964 $93,424,179,943 -
1963 $84,227,606,650 -
1962 $75,196,980,365 -
1961 $67,158,050,215 -
1960 $61,959,085,885 -

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

GeoRank.org/economy/france/qatar | CC BY

GDP per capita in France vs Qatar by year

France
GDP per capita

GDP per capita, PPP
Qatar
GDP per capita

GDP per capita, PPP
1x
Year Current $
France Qatar
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $48,986 - $72,525 -
2024 $46,103 $62,557 $75,685 $126,046
2023 $44,700 $60,839 $80,196 $129,368
2022 $40,989 $57,043 $88,701 $122,921
2021 $43,725 $52,517 $71,752 $116,833
2020 $39,170 $49,482 $51,684 $82,149
2019 $40,408 $51,130 $66,841 $107,503
2018 $41,418 $46,381 $71,040 $110,033
2017 $38,687 $44,469 $63,280 $99,358
2016 $37,024 $42,880 $61,254 $89,935
2015 $36,702 $40,905 $68,985 $102,546
2014 $43,148 $40,218 $95,841 $148,389
2013 $42,669 $39,583 $103,697 $169,203
2012 $40,864 $37,671 $108,470 $180,939
2011 $43,930 $37,510 $103,262 $174,620
2010 $40,695 $35,908 $77,387 $151,646
2009 $41,728 $34,685 $60,786 $125,898
2008 $45,465 $35,053 $80,781 $126,015
2007 $41,486 $34,066 $65,954 $124,056
2006 $36,432 $32,424 $62,582 $127,181
2005 $34,696 $30,431 $53,950 $115,250
2004 $33,645 $28,921 $41,036 $110,958
2003 $29,480 $28,024 $31,602 $94,120
2002 $24,145 $28,350 $27,227 $93,177
2001 $22,332 $27,347 $25,871 $89,805
2000 $22,341 $26,007 $27,535 $88,849
1999 $24,576 $24,204 $20,234 $84,690
1998 $24,869 $23,263 $17,665 $84,486
1997 $24,169 $22,190 $20,523 $79,219
1996 $26,758 $21,268 $17,125 $62,331
1995 $26,792 $20,701 $15,823 $60,321
1994 $23,360 $19,892 $14,765 $59,415
1993 $22,239 $19,094 $14,770 $59,125
1992 $23,615 $18,801 $16,280 $60,387
1991 $21,501 $18,198 $15,133 $54,759
1990 $21,586 $17,475 $16,722 $55,659
1989 $17,547 - $15,243 -
1988 $17,550 - $14,682 -
1987 $16,176 - $13,719 -
1986 $13,430 - $13,213 -
1985 $9,657 - $16,815 -
1984 $9,312 - $19,749 -
1983 $9,862 - $19,669 -
1982 $10,360 - $24,431 -
1981 $10,956 - $29,543 -
1980 $12,565 - $28,407 -
1979 $11,063 - $21,777 -
1978 $9,167 - $16,757 -
1977 $7,459 - $16,058 -
1976 $6,792 - $15,710 -
1975 $6,617 - $13,014 -
1974 $5,261 - $13,540 -
1973 $4,907 - $4,905 -
1972 $3,809 - $3,483 -
1971 $3,137 - $2,952 -
1970 $2,833 - $2,594 -
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 (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/france/qatar | CC BY

France's GDP per capita is $48,986, ranking 27/197, compared to $72,525 in Qatar, ranking 13/197. Adjusted for purchasing power (GDP per capita PPP), France ranks 30th at $62,557, while Qatar ranks 5th at $126,046.

Economic indicators

France Qatar
Gross domestic product
$3.37T
2025
$216B
2025
GDP rank
7/197
2025
56/197
2025
GDP growth
0.84%
2024-2025
2.9%
2024-2025
GDP per capita
$48,986
2025
$72,525
2025
GDP per capita rank
27/197
2025
13/197
2025
GDP per capita, PPP
$62,557
2024
$126,046
2024
GDP per capita PPP rank
30/197
2024
5/197
2024
Government debt
$3.9T
2025
$89.2B
2025
Debt-to-GDP ratio
116%
2025
41.4%
2025
Government debt per person
$56,819
2025
$30,009
2025
Government debt per person rank
8/185
2025
24/185
2025
Average annual personal income after taxes
$35,062
2026
$37,042
2026
Market capitalization of domestic companies
$2.37T
2018
$177B
2025
Number of millionaires
2,388,000
2026
30,000
2026
Number of billionaires
51
2026
2
2026
Income share by richest 10%
25%
2023
25.8%
2017
Income share by poorest 10%
3%
2023
2.6%
2017
Government expenditure, % of GDP
57.5%
2025
27.1%
2025
Consumer prices inflation
0.94%
2024-2025
0.6%
2024-2025
Central bank interest rate n/a
4.1%
2025
Unemployment rate
7.7%
2025
0.1%
2024
Population
68871753
3058826

Spending and national debt comparison by year

France
Spending

Debt
Qatar
Spending

Debt
1x
Year % of GDP
France Qatar
Government spending Government debt Government spending Government debt
2025 57.5% 116% 27.1% 41.4%
2024 57.3% 113.2% 26% 41.3%
2023 56.8% 109.6% 26.7% 42.8%
2022 58.4% 111.4% 24.3% 42.6%
2021 59.5% 112.8% 29.4% 58.4%
2020 61.7% 114.9% 34.7% 72.6%
2019 55.3% 98.2% 32.5% 62.1%
2018 56.4% 98.5% 28.9% 52.2%
2017 57.7% 98.8% 34.7% 51.6%
2016 57.4% 98.1% 40.1% 46.7%
2015 57.6% 97% 38.6% 35.5%
2014 58.4% 96.2% 32.3% 24.9%
2013 58.6% 94.6% 28.3% 30.9%
2012 57.9% 91.7% 31% 32.1%
2011 57% 88.7% 28.5% 33.5%
2010 57.7% 86.3% 32% 30.4%
2009 58% 84.1% 36.4% 36%
2008 54.3% 69.8% 23.5% 11.4%
2007 53.6% 65.5% 29.5% 9.37%
2006 53.7% 65.4% 29.5% 13.9%
2005 54.3% 68.2% 29% 19.1%
2004 54% 66.9% 29.9% 30.1%
2003 54.4% 65.4% 28.5% 38.8%
2002 53.9% 61.3% 31.6% 47.7%
2001 52.8% 59.3% 32.1% 59.2%
2000 52.6% 59.7% 29.8% 51.6%
1999 53.7% 61.4% 42.4% 81.8%
1998 54% 62.1% 55.1% 76.6%
1997 55.6% 62% 47.6% 54.4%
1996 56% 60.6% 55.2% 57.8%
1995 56% 57.8% 52.2% 50.2%
1994 55.9% 51.6% 59.8% 54.8%
1993 56.5% 48.2% 62.8% 46.3%
1992 54% 41.7% 54.2% 19.9%
1991 52.7% 37.8% 57.5% 21.8%
1990 51.6% 36.8% 50% 12.6%
1989 48.9% 34% - -
1988 50.1% 33.3% - -
1987 50.7% 33.4% - -
1986 51.3% 31.1% - -
1985 51.9% 30.6% - -
1984 51.2% 29% - -
1983 50.2% 26.6% - -
1982 49.9% 25.3% - -
1981 48.5% 22% - -
1980 46% 20.7% - -
1979 44.9% 21.1% - -
1978 44.7% 21.2% - -
1977 21.4% 15% - -
1976 21.7% 15.1% - -
1975 22% 16.1% - -
1974 19.9% 15.4% - -
1973 19.7% 15.8% - -
1972 19.8% 17.7% - -
1971 20% 20.1% - -
1970 20.5% 21% - -
1969 21.5% 14.4% - -
1968 22.7% 15.8% - -
1967 21.4% 16.1% - -
1966 21.4% 15.3% - -
1965 21.1% 17.6% - -
1964 21% 19.6% - -
1963 22.6% 22.2% - -
1962 21.7% 23.6% - -
1961 21.9% 26.3% - -
1960 22.2% 28.5% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1989, retrieved 2026-07-08).

GeoRank.org/economy/france/qatar | CC BY

In 2025, France's government spending was $1.93T, accounting for 57.5% of its GDP, while Qatar spent $58.4B, or 27.1% of GDP.

Debt-to-GDP ratio is 116% in France and 41.4% in Qatar, ranking 13/185 and 127/185, respectively.

Government deficit by year

Deficit/surplus
France

Qatar
1x
Year Deficit/surplus, % of GDP
France Qatar
2025 -5.11% -1%
2024 -5.79% 0.71%
2023 -5.44% 5.51%
2022 -4.74% 10.4%
2021 -6.58% 0.24%
2020 -8.93% -2.13%
2019 -2.39% 1%
2018 -2.32% 2.26%
2017 -3.36% -6.82%
2016 -3.76% -9.2%
2015 -3.89% 18.4%
2014 -4.57% 13.4%
2013 -4.94% 19.3%
2012 -5.17% 8.55%
2011 -5.3% 5.24%
2010 -7.16% 4.6%
2009 -7.38% 14.1%
2008 -3.5% 9.49%
2007 -2.99% 10.3%
2006 -2.66% 8.39%
2005 -3.5% 9.8%
2004 -3.55% 17.7%
2003 -4.09% 6.71%
2002 -3.18% 7.89%
2001 -1.42% 4.48%
2000 -1.32% 4.62%
1999 -1.55% -4.35%
1998 -2.39% -7%
1997 -3.71% -9.4%
1996 -3.89% -8.73%
1995 -5.11% -5.78%
1994 -5.46% -11.8%
1993 -6.4% -9.53%
1992 -4.64% -2.74%
1991 -2.89% -2.57%
1990 -2.45% 3.23%
1989 -1.9% -
1988 -2.7% -
1987 -2.13% -
1986 -3.3% -
1985 -3.08% -
1984 -2.8% -
1983 -2.58% -
1982 -2.91% -
1981 -2.39% -
1980 -0.27% -
1979 -0.36% -
1978 -1.73% -
1977 0.9% -
1976 1.01% -
1975 -0.28% -
1974 3.05% -
1973 1.97% -
1972 1.94% -
1971 -0.13% -
1970 0.02% -
1969 -0.49% -
1968 -2.54% -
1967 -0.8% -
1966 -0.57% -
1965 -0.07% -
1964 -0.25% -
1963 -2.24% -
1962 -1.53% -
1961 -1.36% -
1960 -1.95% -
1959 0.56% -
1958 0.08% -
1957 -1.99% -
1956 -2.62% -
1955 -1.04% -
1954 -0.78% -
1953 -4.79% -
1952 -6.82% -
1951 -4.42% -
1950 -5.56% -
1949 -7.31% -
1948 -9.11% -
1947 -7.6% -
1946 -8.1% -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 - -
1939 - -
1938 - -
1937 -6.89% -
1936 -4.76% -
1935 -4.22% -
1934 -4.31% -
1933 -4.96% -
1932 -1.86% -
1931 -2.06% -
1930 -1.65% -
1929 1.48% -
1928 1.13% -
1927 -0.04% -
1926 -0.02% -
1925 -0.87% -
1924 - -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 0.05% -
1912 0.23% -
1911 0.31% -
1910 -0.12% -
1909 -0.11% -
1908 -0.15% -
1907 0.23% -
1906 -0.04% -
1905 0.18% -
1904 0.3% -
1903 0.21% -
1902 -0.37% -
1901 -0.39% -
1900 0.21% -
1899 0.21% -
1898 0.29% -
1897 0.01% -
1896 -0.03% -
1895 -0.07% -
1894 -0.08% -
1893 -0.3% -
1892 -0.03% -
1891 0.36% -
1890 0.31% -
1889 0.09% -
1888 0.18% -
1887 -0.07% -
1886 -0.5% -
1885 -0.59% -
1884 -0.35% -
1883 -0.23% -
1882 -0.15% -
1881 0.64% -
1880 0.65% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/france/qatar | CC BY

In 2025, France's government deficit, the difference between spending and revenue, was $172B, equivalent to 5.11% of GDP. This compares to Qatar's deficit of $2.16B, or 1% of GDP.

Over the past 36 years, France recorded a fiscal deficit in 36 of those years, while Qatar ran a deficit in 13 years. On average, France posted an annual deficit equal to 4.21% of GDP, compared to surplus of 2.92% of GDP for Qatar.

Inflation comparison by year

Inflation
France

Qatar
1x
Year Consumer prices inflation
France Qatar
2025 0.94% 0.6%
2024 2% 1.2%
2023 4.88% 3.1%
2022 5.22% 5%
2021 1.64% 2.3%
2020 0.48% -2.5%
2019 1.11% -0.9%
2018 1.85% 0.1%
2017 1.03% 0.6%
2016 0.18% 2.7%
2015 0.04% 0.9%
2014 0.51% 4.2%
2013 0.86% 3.1%
2012 1.95% 1.8%
2011 2.11% 2%
2010 1.53% -2.4%
2009 0.09% -4.9%
2008 2.81% 15.1%
2007 1.49% 13.7%
2006 1.68% 11.7%
2005 1.75% 9%
2004 2.14% 6.8%
2003 2.1% 2.3%
2002 1.92% 0.2%
2001 1.63% 1.7%
2000 1.68% 1.6%
1999 0.54% 2.2%
1998 0.65% 2.9%
1997 1.2% 2.7%

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

GeoRank.org/economy/france/qatar | CC BY

Over the past 29 years, France has recorded an average annual inflation rate of 1.59%, compared with 2.99% in Qatar. In 2025, inflation was 0.94% in France and 0.6% in Qatar.

Top exports between countries

France
Export category Export value
Machinery & equipment $1.22B
Chemicals & pharma $139M
Textiles & consumer goods $124M
Precious metals & jewellery $63M
Processed food, beverages & tobacco $60.2M
Metals $28M
Raw agricultural goods $24.9M
Animal & marine products $19.2M
Raw materials & minerals $7.24M
Wood & paper products $4.27M
Qatar
Export category Export value
Raw materials & minerals $425M
Machinery & equipment $98M
Chemicals & pharma $80.9M
Precious metals & jewellery $24.9M
Textiles & consumer goods $21.5M
Weapons & explosives $7.33M
Animal & marine products $2.79M
Metals $1.5M
Processed food, beverages & tobacco $416K
Miscellaneous $330K

Balance of trade

France Qatar
Current account balance
-$9.24B
2025
$31.9B
2025
Current account balance ranking
173/190
2025
17/190
2025
Current account balance, % of GDP
-0.27%
2025
+14.8%
2025
Goods imports
$770B
2025
$34.3B
2025
Goods exports
$704B
2025
$90B
2025
Service imports
$370B
2025
$31.3B
2025
Service exports
$429B
2025
$24.4B
2025
Imports of goods and services, % of GDP
33.8%
2025
31.6%
2022
Exports of goods and services, % of GDP
33.4%
2025
68.6%
2022

Economic freedom indices

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

France Qatar
Economic freedom 64.6 70.2
Economic freedom ranking 72/197 37/197
Property rights 91.2 66.2
Government integrity 73.4 53.5
Judicial effectiveness 84.7 41.5
Tax burden 54.6 99.9
Government spending 0.9 79.9
Fiscal health 34.8 96.6
Business freedom 78.4 68
Labor freedom 59.1 58.5
Monetary freedom 73.2 76
Trade freedom 79.4 81.8
Investment freedom 75 60
Financial freedom 70 60

Economic freedom comparison by year

France
Qatar
1x
Year Economic freedom index
France Qatar
2026 64.6 70.2
2025 64.4 70.2
2024 62.5 68.8
2023 63.6 68.6
2022 65.9 67.7
2021 65.7 72
2020 66 72.3
2019 63.8 72.6
2018 63.9 72.6
2017 63.3 73.1
2016 62.3 70.7
2015 62.5 70.8
2014 63.5 71.2
2013 64.1 71.3
2012 63.2 71.3
2011 64.6 70.5
2010 64.2 69
2009 63.3 65.8
2008 64.7 62.2
2007 62.1 62.9
2006 61.1 62.4
2005 60.5 63.5
2004 60.9 66.5
2003 59.2 65.9
2002 58 61.9
2001 58 60
2000 57.4 62
1999 59.1 62
1998 58.9 -
1997 59.1 -
1996 63.7 -
1995 64.4 -

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

GeoRank.org/economy/france/qatar | CC BY

The Economic Freedom Index for France is 64.6, ranking 72/197, compared to 70.2 for Qatar, ranking 37/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

France Qatar
Services, % of GDP
70.9%
2025
47%
2025
Industry, % of GDP
16.8%
2025
57%
2025
Agriculture, forestry, and fishing, % of GDP
1.4%
2025
0.31%
2025
GNI, Atlas method
$3.34T
2025
$221B
2025
GNI per capita, PPP
$65,110
2025
$126,290
2025
Total reserves including gold
$428B
2025
$55.8B
2025
Total reserves ranking
12/177
2025
45/177
2025
Net foreign direct investment
$7.24B
2025
$311M
2025
Net inflows of foreign direct investment
$52.1B
2024
$460M
2024
Net outflows of foreign direct investment
$41.7B
2024
$1.56B
2024
Poverty at national poverty lines
15.6%
2021
n/a
Gross capital formation, % of GDP
21.9%
2025
30.6%
2022

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/france/qatar | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, 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 (2024–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

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.