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Economy of France vs Seychelles compared: GDP & Debt

Updated on by Georank team

France has a GDP of $3.16T compared to $2.17B for the Seychelles, ranking 7/197 and 178/197 by economy size, respectively.

France has $3.58T in government debt (113.1% of GDP), compared to $1.25B (57.6% of GDP) in the Seychelles.

France vs Seychelles GDP by year

France
Seychelles
1x
Year GDP, current $
France Seychelles
2024 $3,160,442,622,465 $2,167,239,562
2023 $3,056,250,648,138 $2,187,379,755
2022 $2,794,788,137,067 $2,018,346,589
2021 $2,966,433,692,008 $1,487,173,795
2020 $2,647,926,055,110 $1,382,551,752
2019 $2,722,793,515,172 $1,868,690,097
2018 $2,781,576,320,884 $1,784,313,927
2017 $2,588,868,323,335 $1,675,370,641
2016 $2,470,407,619,777 $1,568,513,348
2015 $2,442,483,452,643 $1,432,403,352
2014 $2,861,236,112,552 $1,387,577,870
2013 $2,816,077,607,875 $1,333,160,407
2012 $2,683,007,095,787 $1,089,407,839
2011 $2,870,408,553,990 $1,058,918,707
2010 $2,646,230,027,988 $981,616,542
2009 $2,700,075,882,519 $850,901,620
2008 $2,926,802,941,586 $979,597,394
2007 $2,655,816,911,867 $1,077,308,814
2006 $2,317,861,544,691 $1,081,441,283
2005 $2,192,146,403,028 $977,899,382
2004 $2,109,792,297,237 $893,012,218
2003 $1,835,095,983,049 $750,847,230
2002 $1,492,427,756,382 $742,134,838
2001 $1,370,376,677,299 $662,064,156
2000 $1,360,959,069,477 $654,212,394
1999 $1,486,915,879,702 $662,838,615
1998 $1,496,906,382,032 $647,287,376
1997 $1,449,392,222,971 $598,966,982
1996 $1,598,889,216,566 $535,250,347
1995 $1,595,219,345,512 $540,733,048
1994 $1,385,822,778,828 $517,570,058
1993 $1,314,383,368,080 $504,230,621
1992 $1,389,663,073,110 $461,409,399
1991 $1,258,961,748,634 $398,307,170
1990 $1,257,649,439,827 $392,163,561
1989 $1,016,742,237,302 $324,333,367
1988 $1,010,827,662,152 $301,985,618
1987 $926,320,855,615 $265,212,957
1986 $764,946,585,851 $221,147,061
1985 $547,220,981,165 $179,691,483
1984 $525,033,325,828 $160,992,921
1983 $553,356,312,936 $156,098,237
1982 $578,152,310,610 $157,211,790
1981 $609,184,791,792 $163,750,728
1980 $694,529,183,483 $156,783,830
1979 $608,218,624,730 $127,261,099
1978 $501,724,418,605 $85,552,366
1977 $406,401,711,688 $64,526,401
1976 $368,363,152,144 $49,278,982
1975 $357,324,307,786 $47,803,146
1974 $282,739,225,314 $43,134,496
1973 $261,970,536,240 $36,896,280
1972 $201,738,881,664 $30,645,123
1971 $164,694,210,962 $21,965,951
1970 $147,312,861,698 $18,432,032
1969 $140,660,914,841 $16,452,028
1968 $128,710,572,572 $16,074,028
1967 $118,088,635,381 $16,632,032
1966 $109,306,730,313 $16,443,034
1965 $100,927,668,584 $15,603,032
1964 $93,424,179,943 $15,393,032
1963 $84,227,606,650 $13,923,029
1962 $75,196,980,365 $12,642,026
1961 $67,158,050,215 $11,592,024
1960 $61,959,085,885 $12,012,025

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

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

GDP per capita in France vs Seychelles by year

France
GDP per capita

GDP per capita, PPP
Seychelles
GDP per capita

GDP per capita, PPP
1x
Year Current $
France Seychelles
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $46,103 $62,557 $17,859 $33,239
2023 $44,700 $60,839 $18,263 $31,781
2022 $40,989 $57,043 $16,837 $29,973
2021 $43,725 $52,517 $14,983 $29,980
2020 $39,170 $49,482 $14,041 $31,056
2019 $40,408 $51,130 $19,142 $34,219
2018 $41,418 $46,381 $18,440 $32,091
2017 $38,687 $44,469 $17,480 $30,675
2016 $37,024 $42,880 $16,567 $28,811
2015 $36,702 $40,905 $15,333 $25,435
2014 $43,148 $40,218 $15,188 $24,985
2013 $42,669 $39,583 $14,821 $22,487
2012 $40,864 $37,671 $12,337 $22,264
2011 $43,930 $37,510 $12,110 $21,781
2010 $40,695 $35,908 $10,935 $18,982
2009 $41,728 $34,685 $9,747 $18,453
2008 $45,465 $35,053 $11,265 $18,881
2007 $41,486 $34,066 $12,669 $19,473
2006 $36,432 $32,424 $12,783 $17,503
2005 $34,696 $30,431 $11,802 $15,846
2004 $33,645 $28,921 $10,828 $14,160
2003 $29,480 $28,024 $9,070 $14,142
2002 $24,145 $28,350 $8,864 $14,570
2001 $22,332 $27,347 $8,153 $14,615
2000 $22,341 $26,007 $8,064 $14,638
1999 $24,576 $24,204 $8,243 $13,853
1998 $24,869 $23,263 $8,210 $13,675
1997 $24,169 $22,190 $7,747 $13,458
1996 $26,758 $21,268 $7,004 $11,931
1995 $26,792 $20,701 $7,181 $10,809
1994 $23,360 $19,892 $6,975 $10,692
1993 $22,239 $19,094 $6,979 $11,020
1992 $23,615 $18,801 $6,520 $10,243
1991 $21,501 $18,198 $5,655 $9,387
1990 $21,586 $17,475 $5,642 $8,955
1989 $17,547 - $4,689 -
1988 $17,550 - $4,392 -
1987 $16,176 - $3,872 -
1986 $13,430 - $3,368 -
1985 $9,657 - $2,754 -
1984 $9,312 - $2,488 -
1983 $9,862 - $2,426 -
1982 $10,360 - $2,441 -
1981 $10,956 - $2,557 -
1980 $12,565 - $2,478 -
1979 $11,063 - $2,030 -
1978 $9,167 - $1,377 -
1977 $7,459 - $1,044 -
1976 $6,792 - $814 -
1975 $6,617 - $806 -
1974 $5,261 - $745 -
1973 $4,907 - $649 -
1972 $3,809 - $547 -
1971 $3,137 - $402 -
1970 $2,833 - $344 -
1969 $2,729 - $314 -
1968 $2,518 - $314 -
1967 $2,328 - $333 -
1966 $2,173 - $338 -
1965 $2,024 - $328 -
1964 $1,891 - $332 -
1963 $1,723 - $308 -
1962 $1,554 - $287 -
1961 $1,402 - $270.3 -
1960 $1,307 - $288.1 -

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

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

France's GDP per capita is $46,103, ranking 27/197, compared to $17,859 in the Seychelles, ranking 63/197. Adjusted for purchasing power (GDP per capita PPP), France ranks 30th at $62,557, while the Seychelles ranks 67th at $33,239.

Economic indicators

France Seychelles
Gross domestic product
$3.16T
2024
$2.17B
2024
GDP rank
7/197
2024
178/197
2024
GDP growth
1.19%
2023-2024
3.47%
2023-2024
GDP per capita
$46,103
2024
$17,859
2024
GDP per capita rank
27/197
2024
63/197
2024
GDP per capita, PPP
$62,557
2024
$33,239
2024
GDP per capita PPP rank
30/197
2024
67/197
2024
Government debt
$3.58T
2024
$1.25B
2024
Debt-to-GDP ratio
113.1%
2024
57.6%
2024
Government debt per person
$52,165
2024
$10,288
2024
Government debt per person rank
8/185
2024
57/185
2024
Average annual personal income after taxes
$35,669
2026
$10,944
2026
Market capitalization of domestic companies
$2.37T
2018
$811M
2024
Number of millionaires
2,897,000
2025
n/a
Number of billionaires
52
2025
n/a
Income share by richest 10%
25%
2023
23.9%
2018
Income share by poorest 10%
3%
2023
2.6%
2018
Government expenditure, % of GDP
57.2%
2024
33.8%
2024
Consumer prices inflation
2%
2023-2024
0.31%
2023-2024
Central bank interest rate n/a
1.75%
2024
Unemployment rate
7.44%
2024
2.59%
2024
Population
68788006
126311

Spending and national debt comparison by year

France
Spending

Debt
Seychelles
Spending

Debt
1x
Year % of GDP
France Seychelles
Government spending Government debt Government spending Government debt
2024 57.2% 113.1% 33.8% 57.6%
2023 56.8% 109.6% 32.9% 55.3%
2022 58.4% 111.4% 31.3% 60%
2021 59.5% 112.8% 38.8% 71%
2020 61.7% 114.9% 46.7% 77.4%
2019 55.3% 98.1% 31.7% 48.9%
2018 56.4% 98.5% 33% 51.3%
2017 57.7% 98.7% 34.3% 56.7%
2016 57.4% 98.1% 34.5% 62.8%
2015 57.6% 96.9% 31.5% 64.7%
2014 58.4% 96.1% 33.4% 70.4%
2013 58.6% 94.5% 37.8% 68.2%
2012 57.9% 91.7% 38.6% 80.1%
2011 57% 88.7% 36.4% 82.5%
2010 57.7% 86.3% 34.6% 82.2%
2009 58% 84.1% 32.1% 106.1%
2008 54.3% 69.8% 27% 192.1%
2007 53.6% 65.5% 41.9% 144%
2006 53.7% 65.4% 43.6% 135.1%
2005 54.3% 68.2% 39% 144.1%
2004 54% 66.9% 39.9% 163.2%
2003 54.4% 65.4% 44.6% 177%
2002 53.9% 61.3% 56.3% 195.9%
2001 52.8% 59.3% 46.8% 199.8%
2000 52.6% 59.7% 55.4% 177.8%
1999 53.7% 61.4% 56.1% 159.8%
1998 54% 62.1% 60.7% 161.2%
1997 55.6% 62% 54.7% 143%
1996 56% 60.6% 59.1% 146.7%
1995 56% 57.8% 53.1% 133.5%
1994 55.9% 51.6% 63.6% 123.5%
1993 56.5% 48.2% 60.4% 82.2%
1992 54% 41.7% 50.7% 79.9%
1991 52.7% 37.8% 52.1% 89.2%
1990 51.6% 36.8% 46.1% 80.4%
1989 48.9% 34% 51.7% 39.9%
1988 50.1% 33.3% 46.7% 41.3%
1987 50.7% 33.4% 49.7% 37%
1986 51.3% 31.1% 58% 31.5%
1985 51.9% 30.6% 53% 26.5%
1984 51.2% 29% 50.5% 15.3%
1983 50.2% 26.6% 47.9% 12.4%
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1989, retrieved 2026-02-20).

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

In 2024, France's government spending was $1.81T, accounting for 57.2% of its GDP, while the Seychelles spent $732M, or 33.8% of GDP.

Debt-to-GDP ratio is 113.1% in France and 57.6% in the Seychelles, ranking 14/185 and 85/185, respectively.

Government deficit by year

Deficit/surplus
France

Seychelles
1x
Year Deficit/surplus, % of GDP
France Seychelles
2024 -5.77% -0.69%
2023 -5.44% -1.14%
2022 -4.74% -0.76%
2021 -6.58% -5.76%
2020 -8.93% -15.7%
2019 -2.39% 0.42%
2018 -2.32% -0.8%
2017 -3.36% -1.67%
2016 -3.76% 0.02%
2015 -3.89% 1.39%
2014 -4.57% 2.87%
2013 -4.94% 0.33%
2012 -5.17% 2.93%
2011 -5.3% 3.36%
2010 -7.16% 0.52%
2009 -7.38% 4.84%
2008 -3.5% 7.88%
2007 -2.99% -9.93%
2006 -2.66% -2.54%
2005 -3.5% 0.42%
2004 -3.55% 0.44%
2003 -4.09% 3.4%
2002 -3.18% -16.3%
2001 -1.42% -8.93%
2000 -1.32% -14.7%
1999 -1.55% -10.3%
1998 -2.39% -16.7%
1997 -3.71% -5.91%
1996 -3.89% -9.69%
1995 -5.11% -2.58%
1994 -5.46% -6.95%
1993 -6.4% -3.62%
1992 -4.64% 6.44%
1991 -2.89% 3.15%
1990 -2.45% 11.9%
1989 -1.9% 8.26%
1988 -2.7% 11.8%
1987 -2.13% 2.77%
1986 -3.3% -10.1%
1985 -3.08% -4.86%
1984 -2.8% -6.09%
1983 -2.58% -3.13%
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 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

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

In 2024, France's government deficit, the difference between spending and revenue, was $182B, equivalent to 5.77% of GDP. This compares to the Seychelles' deficit of $15M, or 0.69% of GDP.

Over the past 42 years, France recorded a fiscal deficit in 42 of those years, while the Seychelles ran a deficit in 23 years. On average, France posted an annual deficit equal to 3.93% of GDP, compared to deficit of 2.04% of GDP for the Seychelles.

Inflation comparison by year

Inflation
France

Seychelles
1x
Year Consumer prices inflation
France Seychelles
2024 2% 0.31%
2023 4.88% -1.04%
2022 5.22% 2.63%
2021 1.64% 9.77%
2020 0.48% 1.2%
2019 1.11% 1.81%
2018 1.85% 3.7%
2017 1.03% 2.86%
2016 0.18% -1.02%
2015 0.04% 4.04%
2014 0.51% 1.39%
2013 0.86% 4.34%
2012 1.95% 7.11%
2011 2.11% 2.56%
2010 1.53% -2.4%
2009 0.09% 31.8%
2008 2.81% 37%
2007 1.49% 5.32%
2006 1.68% -0.35%
2005 1.75% 0.91%
2004 2.14% 3.86%
2003 2.1% 3.3%
2002 1.92% 0.18%
2001 1.63% 5.97%
2000 1.68% 6.27%
1999 0.54% 6.35%
1998 0.65% 2.58%
1997 1.2% 0.62%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, France has recorded an average annual inflation rate of 1.61%, compared with 5.03% in the Seychelles. In 2024, inflation was 2% in France and 0.31% in the Seychelles.

Top exports between countries

France
Export category Export value
Machinery & equipment $17.3M
Processed food, beverages & tobacco $9.67M
Textiles & consumer goods $5M
Chemicals & pharma $3.19M
Animal & marine products $3.1M
Metals $1.67M
Wood & paper products $1.39M
Raw agricultural goods $984K
Precious metals & jewellery $485K
Raw materials & minerals $281K
Seychelles
Export category Export value
Processed food, beverages & tobacco $95M
Machinery & equipment $1.52M
Animal & marine products $858K
Raw agricultural goods $47K
Wood & paper products $25K
Metals $20K
Raw materials & minerals $11K
Textiles & consumer goods $7K
Chemicals & pharma $4K
Miscellaneous $3K

Balance of trade

France Seychelles
Current account balance
$2.69B
2024
-$176M
2024
Current account balance ranking
42/190
2024
97/190
2024
Current account balance, % of GDP
+0.09%
2024
-8.11%
2024
Goods imports
$733B
2024
$1.39B
2024
Goods exports
$668B
2024
$595M
2024
Service imports
$341B
2024
$1B
2024
Service exports
$403B
2024
$1.71B
2024
Imports of goods and services, % of GDP
34.2%
2024
103.2%
2024
Exports of goods and services, % of GDP
33.9%
2024
85.2%
2024

Economic freedom indices

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

France Seychelles
Economic freedom 64.6 66.5
Economic freedom ranking 72/197 60/197
Property rights 91.2 82.6
Government integrity 73.4 71.7
Judicial effectiveness 84.7 61.7
Tax burden 54.6 77.3
Government spending 0.9 68
Fiscal health 34.8 92.2
Business freedom 78.4 71.3
Labor freedom 59.1 52
Monetary freedom 73.2 79.8
Trade freedom 79.4 81.2
Investment freedom 75 30
Financial freedom 70 30

Economic freedom comparison by year

France
Seychelles
1x
Year Economic freedom index
France Seychelles
2026 64.6 66.5
2025 64.4 66.4
2024 62.5 60.4
2023 63.6 59.5
2022 65.9 61.1
2021 65.7 66.3
2020 66 64.3
2019 63.8 61.4
2018 63.9 61.6
2017 63.3 61.8
2016 62.3 62.2
2015 62.5 57.5
2014 63.5 56.2
2013 64.1 54.9
2012 63.2 53
2011 64.6 51.2
2010 64.2 47.9
2009 63.3 47.8
2008 64.7 -
2007 62.1 -
2006 61.1 -
2005 60.5 -
2004 60.9 -
2003 59.2 -
2002 58 -
2001 58 -
2000 57.4 -
1999 59.1 -
1998 58.9 -
1997 59.1 -
1996 63.7 -
1995 64.4 -

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

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

The Economic Freedom Index for France is 64.6, ranking 72/197, compared to 66.5 for the Seychelles, ranking 60/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

France Seychelles
Services, % of GDP
70.9%
2024
65.8%
2024
Industry, % of GDP
17.2%
2024
12.3%
2024
Agriculture, forestry, and fishing, % of GDP
1.3%
2024
2.45%
2024
GNI, Atlas method
$3.1T
2024
$2.12B
2024
GNI per capita, PPP
$63,880
2024
$32,180
2024
Total reserves including gold
$283B
2024
$774M
2024
Total reserves ranking
13/177
2024
145/177
2024
Net foreign direct investment
-$10.3B
2024
-$262M
2024
Net inflows of foreign direct investment
$52.1B
2024
$226M
2024
Net outflows of foreign direct investment
$41.7B
2024
-$35.4M
2024
Poverty at national poverty lines
15.6%
2021
25.3%
2018
Gross capital formation, % of GDP
21.5%
2024
17.2%
2024

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/seychelles | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, 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 (2022–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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.