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Economy of France vs Turkmenistan compared: GDP & Debt

Updated on by Georank team

France has a GDP of $3.16T compared to $64.2B for Turkmenistan, ranking 7/197 and 88/197 by economy size, respectively.

France has $3.58T in government debt (116.3% of GDP), compared to $2.97B (4.5% of GDP) in Turkmenistan.

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 $
Turkmenistan
GDP, current $

GDP, constant 2015 $
Year GDP
France Turkmenistan
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 $2,331,358,820 $9,134,688,479
1988 $1,010,827,662,152 $1,519,101,594,975 $3,010,982,414 $10,141,662,024
1989 $1,016,742,237,302 $1,586,020,591,646 $3,006,988,217 $9,710,101,902
1990 $1,257,649,439,827 $1,630,899,060,963 $3,189,539,641 $13,145,978,552
1991 $1,258,961,748,634 $1,651,067,777,785 $3,208,098,919 $12,540,571,637
1992 $1,389,663,073,110 $1,676,098,974,379 $3,200,539,816 $10,663,751,367
1993 $1,314,383,368,080 $1,670,081,815,759 $3,179,225,949 $10,823,707,656
1994 $1,385,822,778,828 $1,709,890,902,349 $2,561,118,608 $8,951,221,334
1995 $1,595,219,345,512 $1,749,300,344,480 $2,482,228,440 $8,306,729,733
1996 $1,598,889,216,566 $1,773,739,467,493 $2,378,759,975 $8,863,279,974
1997 $1,449,392,222,971 $1,818,562,957,062 $2,450,350,625 $7,852,866,037
1998 $1,496,906,382,032 $1,881,350,558,838 $2,605,689,134 $8,410,419,553
1999 $1,486,915,879,702 $1,945,303,460,550 $2,450,564,100 $9,798,138,737
2000 $1,360,959,069,477 $2,025,858,476,151 $2,904,663,311 $10,334,005,228
2001 $1,370,376,677,299 $2,064,338,989,613 $3,534,772,732 $10,782,898,471
2002 $1,492,427,756,382 $2,086,380,974,763 $4,462,029,109 $10,810,629,921
2003 $1,835,095,983,049 $2,106,573,536,968 $5,977,440,583 $11,164,010,880
2004 $2,109,792,297,237 $2,166,995,343,502 $6,838,351,088 $11,722,256,910
2005 $2,192,146,403,028 $2,207,920,477,337 $8,103,901,996 $13,250,139,963
2006 $2,317,861,544,691 $2,267,844,862,926 $10,276,674,365 $14,704,118,675
2007 $2,655,816,911,867 $2,325,232,266,329 $12,664,165,103 $16,330,291,194
2008 $2,926,802,941,586 $2,334,072,135,222 $19,271,523,179 $18,730,843,999
2009 $2,700,075,882,519 $2,268,145,064,849 $20,214,385,965 $19,873,425,505
2010 $2,646,230,027,988 $2,313,515,332,183 $22,583,157,895 $21,701,780,649
2011 $2,870,408,553,990 $2,369,909,039,106 $29,233,333,333 $24,891,942,389
2012 $2,683,007,095,787 $2,374,265,767,668 $35,164,210,526 $27,654,947,984
2013 $2,816,077,607,875 $2,392,826,743,357 $39,197,543,860 $30,475,752,707
2014 $2,861,236,112,552 $2,416,703,156,974 $43,524,210,526 $33,614,755,226
2015 $2,442,483,452,643 $2,442,483,452,643 $35,799,714,286 $35,799,714,286
2016 $2,470,407,619,777 $2,463,489,569,347 $36,169,428,571 $38,019,296,559
2017 $2,588,868,323,335 $2,514,819,204,088 $37,926,285,714 $40,490,550,854
2018 $2,781,576,320,884 $2,556,210,832,760 $40,765,428,571 $43,000,964,983
2019 $2,722,793,515,172 $2,608,036,638,906 $45,232,857,143 $45,710,025,795
2020 $2,647,926,055,110 $2,413,981,867,676 $45,818,000,000 $48,406,917,339
2021 $2,966,433,692,008 $2,580,120,255,052 $50,007,428,571 $51,408,146,222
2022 $2,796,302,210,399 $2,646,451,030,890 $58,972,000,000 $54,595,451,255
2023 $3,051,831,611,385 $2,671,234,714,487 $60,628,857,143 $58,035,050,719
2024 $3,162,079,073,496 $2,702,385,011,318 $64,239,891,739 $59,349,032,300

Economic indicators

France Turkmenistan
Gross domestic product
$3.16T
2024
$64.2B
2024
GDP rank
7/197
2024
88/197
2024
GDP growth
3.61%
2023-2024
5.96%
2023-2024
GDP per capita
$46,150
2024
$8,572
2024
GDP per capita rank
27/197
2024
91/197
2024
GDP per capita, PPP
$61,322
2024
$20,408
2024
Government debt
$3.58T
2024
$2.97B
2024
Debt-to-GDP ratio
116.3%
2025
4.5%
2025
Government debt per person
$52,199
2024
$396
2024
Government debt per person rank
8/185
2024
172/185
2024
Average annual personal income after taxes
$33,898
2025
$8,974
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
31.5%
1998
Income share by poorest 10%
3%
2023
2.4%
1998
Government expenditure, % of GDP
57.3%
2025
11.1%
2025
Consumer prices inflation
2%
2023-2024
3.9%
2024-2025
Unemployment rate
7.39%
2024
4%
2010
Population
68701054
7713465

GDP per capita in France vs Turkmenistan

France's GDP per capita is $46,150, ranking 27/197, compared to $8,572 in Turkmenistan, ranking 91/197. Adjusted for purchasing power (GDP per capita PPP), France ranks 29th at $61,322, while Turkmenistan ranks 94th at $20,408.

France
GDP per capita

GDP per capita, PPP
Turkmenistan
GDP per capita

GDP per capita, PPP
Year Current $
France Turkmenistan
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 - $675 -
1988 $17,550 - $846 -
1989 $17,547 - $821 -
1990 $21,586 $17,472 $848 $5,321
1991 $21,501 $18,178 $832 $5,117
1992 $23,615 $18,790 $811 $4,351
1993 $22,239 $19,071 $788 $4,422
1994 $23,360 $19,874 $622 $3,659
1995 $26,792 $20,688 $592 $3,405
1996 $26,758 $21,261 $558 $3,636
1997 $24,169 $22,185 $565 $3,222
1998 $24,869 $23,261 $591 $3,432
1999 $24,576 $24,204 $546 $3,981
2000 $22,341 $26,002 $634 $4,209
2001 $22,332 $27,350 $756 $4,401
2002 $24,145 $28,350 $936 $4,393
2003 $29,480 $28,028 $1,229 $4,536
2004 $33,645 $28,925 $1,379 $4,798
2005 $34,696 $30,431 $1,604 $5,489
2006 $36,432 $32,430 $1,997 $6,164
2007 $41,486 $34,067 $2,415 $6,901
2008 $45,465 $35,053 $3,606 $7,916
2009 $41,728 $34,667 $3,708 $8,285
2010 $40,695 $35,912 $4,059 $8,972
2011 $43,930 $37,510 $5,144 $10,283
2012 $40,864 $37,671 $6,054 $11,035
2013 $42,669 $39,583 $6,600 $11,723
2014 $43,148 $40,218 $7,164 $12,477
2015 $36,702 $40,916 $5,759 $12,715
2016 $37,024 $42,880 $5,687 $12,919
2017 $38,687 $44,469 $5,828 $13,278
2018 $41,418 $46,381 $6,125 $14,368
2019 $40,408 $51,130 $6,648 $15,478
2020 $39,170 $49,482 $6,593 $15,091
2021 $43,725 $52,517 $7,051 $16,434
2022 $41,083 $56,181 $8,156 $18,340
2023 $44,691 $58,318 $8,233 $19,829
2024 $46,150 $61,322 $8,572 $20,408

Spending and national debt comparison

In 2024, France's government spending was $1.81T, accounting for 57.3% of its GDP, while Turkmenistan's spent $7.26B, or 11.1% of GDP.

Debt-to-GDP ratio is 116.3% in France and 4.5% in Turkmenistan, ranking 12/185 and 183/185, respectively.

France
Government spending

Government debt
Turkmenistan
Government spending

Government debt
Year % of GDP
France Turkmenistan
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% 14.6% 84.9%
1998 54% 62.1% 14.2% 107.9%
1999 53.7% 61.4% 11.3% 88.2%
2000 52.6% 59.7% 14.1% 72.9%
2001 52.8% 59.3% 12.3% 45.1%
2002 53.9% 61.3% 10.6% 32%
2003 54.4% 65.4% 11.3% 22.4%
2004 54% 66.9% 11% 15.1%
2005 54.3% 68.2% 11.5% 9.01%
2006 53.7% 65.4% 8.74% 5.59%
2007 53.6% 65.5% 7.86% 4.05%
2008 54.3% 69.8% 6.36% 4.71%
2009 58% 84.1% 7.84% 4.08%
2010 57.7% 86.3% 8.86% 6.21%
2011 57% 88.7% 9.62% 10%
2012 57.9% 91.7% 10.3% 13.8%
2013 58.6% 94.5% 13% 16%
2014 58.4% 96.1% 13.2% 12.3%
2015 57.6% 96.9% 13.8% 14.5%
2016 57.4% 98.1% 11.9% 18.5%
2017 57.7% 98.7% 14.7% 20%
2018 56.4% 98.5% 11.4% 18.7%
2019 55.3% 98.1% 11.6% 15.3%
2020 61.7% 114.8% 11.8% 13.3%
2021 59.5% 112.7% 10.9% 10.7%
2022 58.4% 111.3% 9.44% 5.77%
2023 56.9% 109.7% 10.9% 4.66%
2024 57.2% 113.1% 11.3% 4.62%
2025 57.3% 116.3% 11.1% 4.5%

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 Turkmenistan's surplus of $204M, or 0.32% of GDP.

Over the past 28 years, France recorded a fiscal deficit in 28 of those years, while Turkmenistan ran a deficit in 8 years. On average, France posted an annual deficit equal to -4.13% of GDP, compared to surplus of +1.07% of GDP for Turkmenistan.

Deficit/surplus
France

Turkmenistan
Year Deficit/surplus, % of GDP
France Turkmenistan
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% -0.11%
1998 -2.39% 0.63%
1999 -1.55% 1.35%
2000 -1.32% -0.3%
2001 -1.42% 0.42%
2002 -3.18% 0.1%
2003 -4.09% 2.17%
2004 -3.55% 0.8%
2005 -3.5% 0.47%
2006 -2.66% 3.07%
2007 -2.99% 2.28%
2008 -3.5% 5.85%
2009 -7.38% 4.11%
2010 -7.16% 1.29%
2011 -5.3% 2.4%
2012 -5.17% 5.27%
2013 -4.94% 1.18%
2014 -4.57% 0.69%
2015 -3.89% -0.56%
2016 -3.76% -2.01%
2017 -3.36% -2.35%
2018 -2.32% -0.18%
2019 -2.39% -0.34%
2020 -8.93% -0.14%
2021 -6.58% 0.46%
2022 -4.74% 2.45%
2023 -5.45% 0.75%
2024 -5.79% 0.32%
2025 -5.46% 0.17%

Inflation comparison by year

Over the past 29 years, France has recorded an average annual inflation rate of 1.62%, compared with 44.8% in Turkmenistan. In 2024, inflation was 2% in France and 3.9% in Turkmenistan.

Inflation
France

Turkmenistan
Year Inflation
France Turkmenistan France Turkmenistan
1996 1.98% 992%
1997 1.2% 83.7%
1998 0.65% 16.8%
1999 0.54% 23.5%
2000 1.68% 8%
2001 1.63% 11.6%
2002 1.92% 8.8%
2003 2.1% 5.6%
2004 2.14% 5.9%
2005 1.75% 10.7%
2006 1.68% 8.2%
2007 1.49% 6.3%
2008 2.81% 14.5%
2009 0.09% -2.7%
2010 1.53% 4.4%
2011 2.11% 5.3%
2012 1.95% 5.3%
2013 0.86% 6.8%
2014 0.51% 6%
2015 0.04% 7.4%
2016 0.18% 3.6%
2017 1.03% 8%
2018 1.85% 13.3%
2019 1.11% 5.1%
2020 0.48% 6.1%
2021 1.64% 19.5%
2022 5.22% 11.2%
2023 4.88% -1.6%
2024 2% 4.6%
2025 - 3.9%

Top exports between countries

France
Export category Export value
Machinery & equipment $40.3M
Chemicals & pharma $24.6M
Textiles & consumer goods $6.52M
Raw materials & minerals $2.68M
Metals $2.4M
Wood & paper products $2.22M
Animal & marine products $1.08M
Precious metals & jewellery $587K
Processed food, beverages & tobacco $499K
Raw agricultural goods $224K
Turkmenistan
Export category Export value
Raw agricultural goods $7.33M
Processed food, beverages & tobacco $2.37M
Raw materials & minerals $152K
Textiles & consumer goods $78K
Miscellaneous $29K
Machinery & equipment $13K
Chemicals & pharma $1K

Balance of trade

France Turkmenistan
Current account balance
$2.69B
2024
n/a
Current account balance ranking
39/189
2024
n/a
Current account balance, % of GDP
+0.09%
2024
n/a
Goods imports
$733B
2024
n/a
Goods exports
$668B
2024
n/a
Service imports
$341B
2024
n/a
Service exports
$403B
2024
n/a
Imports of goods and services, % of GDP
34%
2024
12.5%
2023
Exports of goods and services, % of GDP
33.2%
2024
21.6%
2023

Economic freedom indices

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

France Turkmenistan
Economic freedom 64.4 47.1
Economic freedom ranking 69/197 178/197
Property rights 92.9 17.7
Government integrity 74.3 7.3
Judicial effectiveness 84.2 8.2
Tax burden 54.3 94.2
Government spending 0 96.7
Fiscal health 30 100
Business freedom 81.9 37.4
Labor freedom 60.2 33.9
Monetary freedom 70.3 75.1
Trade freedom 79.6 74.2
Investment freedom 75 10
Financial freedom 70 10

Economic freedom by year comparison

The Economic Freedom Index for France is 64.4, ranking 69/197, compared to 47.1 for Turkmenistan, ranking 178/197. The chart below displays a comparison of annual changes in economic freedom indexes.

France
Turkmenistan
Year Economic freedom index
France Turkmenistan
1995 64.4 -
1996 63.7 -
1997 59.1 -
1998 58.9 35
1999 59.1 36.1
2000 57.4 37.6
2001 58 41.8
2002 58 43.2
2003 59.2 51.3
2004 60.9 50.7
2005 60.5 47.6
2006 61.1 43.8
2007 62.1 43
2008 64.7 43.4
2009 63.3 44.2
2010 64.2 42.5
2011 64.6 43.6
2012 63.2 43.8
2013 64.1 42.6
2014 63.5 42.2
2015 62.5 41.4
2016 62.3 41.9
2017 63.3 47.4
2018 63.9 47.1
2019 63.8 48.4
2020 66 46.5
2021 65.7 47.4
2022 65.9 46.2
2023 63.6 46.5
2024 62.5 46.3
2025 64.4 47.1

More economic indicators

France Turkmenistan
Services, % of GDP
70.4%
2024
49.4%
2023
Industry, % of GDP
17.5%
2024
39.3%
2023
Agriculture, forestry, and fishing, % of GDP
1.43%
2024
11.3%
2023
GNI, Atlas method
$3.1T
2024
$62.9B
2024
GNI per capita, PPP
$62,620
2024
$20,220
2024
Total reserves including gold
$283B
2024
$1.51B
1999
Total reserves ranking
13/177
2024
135/177
1999
Net foreign direct investment
-$10.3B
2024
n/a
Net inflows of foreign direct investment
$52.1B
2024
$1.64B
2024
Net outflows of foreign direct investment
$41.7B
2024
n/a
Servicing debt to the IMF, % of GNI
n/a
1.93%
2023
Poverty at national poverty lines
15.6%
2021
0.2%
2020
Gross capital formation, % of GDP
21.9%
2024
47.2%
2012

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.