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Economy of Germany vs Saint Vincent compared: GDP & Debt

Updated on by Georank team

Germany has a GDP of $4.69T compared to $1.16B for Saint Vincent, ranking 3/197 and 186/197 by economy size, respectively.

Germany has $2.97T in government debt (63.5% of GDP), compared to $1.07B (92.7% of GDP) in Saint Vincent.

Germany vs Saint Vincent GDP by year

Germany
Saint Vincent
1x
Year GDP, current $
Germany Saint Vincent
2024 $4,685,592,577,805 $1,157,207,407
2023 $4,562,207,532,490 $1,072,237,037
2022 $4,201,021,706,479 $989,188,889
2021 $4,355,251,953,411 $888,677,778
2020 $3,941,398,957,074 $864,566,667
2019 $3,959,894,794,039 $910,481,481
2018 $4,055,433,215,302 $884,329,630
2017 $3,765,351,626,106 $844,040,741
2016 $3,536,787,895,179 $814,303,704
2015 $3,425,099,578,746 $786,555,556
2014 $3,964,870,735,761 $770,900,000
2013 $3,807,023,797,051 $764,781,259
2012 $3,596,483,233,406 $730,032,593
2011 $3,823,575,803,794 $713,796,370
2010 $3,467,093,769,667 $720,447,889
2009 $3,478,545,516,684 $714,300,259
2008 $3,808,197,720,125 $732,663,259
2007 $3,484,056,680,855 $713,596,667
2006 $3,046,308,753,671 $643,501,148
2005 $2,893,393,187,362 $579,948,926
2004 $2,852,317,768,062 $549,900,185
2003 $2,534,715,518,349 $509,090,889
2002 $2,102,350,798,306 $487,763,852
2001 $1,966,381,496,642 $462,072,333
2000 $1,966,980,701,145 $427,946,037
1999 $2,213,873,468,587 $390,718,519
1998 $2,247,760,364,566 $373,618,519
1997 $2,218,790,886,533 $347,770,370
1996 $2,506,576,553,158 $331,488,889
1995 $2,593,053,091,306 $316,007,407
1994 $2,215,282,632,277 $289,437,037
1993 $2,078,954,217,438 $286,307,407
1992 $2,141,377,582,968 $277,955,556
1991 $1,875,792,575,133 $254,829,630
1990 $1,778,162,195,860 $240,366,667
1989 $1,404,092,925,205 $214,745,002
1988 $1,406,367,016,372 $200,726,713
1987 $1,302,932,318,825 $175,580,647
1986 $1,050,092,624,516 $160,846,657
1985 $735,218,723,093 $145,641,705
1984 $727,767,760,979 $135,024,988
1983 $773,507,930,295 $122,255,350
1982 $779,421,633,755 $113,759,203
1981 $803,404,797,058 $102,086,539
1980 $953,772,499,462 $82,340,340
1979 $884,574,218,333 $71,096,360
1978 $743,182,891,918 $60,844,771
1977 $602,698,323,086 $49,353,162
1976 $521,658,712,133 $32,792,845
1975 $492,434,094,920 $33,237,226
1974 $446,934,971,657 $32,923,703
1973 $399,833,571,167 $30,165,081
1972 $300,899,944,795 $27,585,805
1971 $250,900,942,397 $20,051,922
1970 $216,629,229,947 $18,450,000
1969 $177,733,486,326 $16,650,000
1968 $156,527,292,653 $15,350,000
1967 $145,100,667,773 $15,835,106
1966 $143,304,275,684 $16,099,960
1965 $134,774,688,191 $15,108,296
1964 $123,330,404,665 $14,758,296
1963 $112,232,503,744 $13,708,299
1962 $105,895,435,234 $14,524,964
1961 $96,558,204,043 $13,999,965
1960 $84,619,845,881 $13,066,634

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

GeoRank.org/economy/germany/saint-vincent | CC BY

GDP per capita in Germany vs Saint Vincent by year

Germany
GDP per capita

GDP per capita, PPP
Saint Vincent
GDP per capita

GDP per capita, PPP
1x
Year Current $
Germany Saint Vincent
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $56,104 $73,552 $11,501 $21,272
2023 $54,777 $71,684 $10,582 $19,820
2022 $50,507 $69,049 $9,694 $18,035
2021 $52,349 $62,531 $8,641 $16,201
2020 $47,395 $58,686 $8,351 $15,337
2019 $47,656 $59,271 $8,741 $15,340
2018 $48,916 $56,273 $8,428 $14,690
2017 $45,554 $54,110 $7,988 $13,575
2016 $42,949 $51,570 $7,657 $13,493
2015 $41,930 $48,545 $7,354 $12,379
2014 $48,960 $47,939 $7,169 $12,136
2013 $47,207 $45,889 $7,072 $11,625
2012 $44,718 $44,229 $6,714 $10,989
2011 $47,631 $43,398 $6,528 $10,774
2010 $42,397 $39,726 $6,552 $10,561
2009 $42,472 $37,574 $6,464 $10,869
2008 $46,379 $38,444 $6,599 $10,902
2007 $42,351 $36,914 $6,398 $10,604
2006 $36,980 $34,741 $5,745 $9,949
2005 $35,084 $32,314 $5,157 $8,986
2004 $34,567 $31,753 $4,873 $8,472
2003 $30,711 $30,301 $4,500 $7,903
2002 $25,487 $29,514 $4,303 $7,250
2001 $23,878 $28,674 $4,071 $6,768
2000 $23,926 $27,474 $3,769 $6,503
1999 $26,965 $26,518 $3,447 $6,266
1998 $27,396 $25,446 $3,301 $6,026
1997 $27,047 $24,649 $3,074 $5,726
1996 $30,600 $24,169 $2,930 $5,440
1995 $31,747 $23,631 $2,795 $5,277
1994 $27,202 $22,869 $2,563 $4,802
1993 $25,617 $21,900 $2,540 $4,769
1992 $26,560 $21,746 $2,471 $4,477
1991 $23,443 $21,001 $2,271 $4,126
1990 $22,386 $19,468 $2,150 $3,960
1989 $17,829 - $1,930 -
1988 $17,997 - $1,814 -
1987 $16,739 - $1,596 -
1986 $13,511 - $1,472 -
1985 $9,464 - $1,342 -
1984 $9,347 - $1,254 -
1983 $9,900 - $1,144 -
1982 $9,950 - $1,074 -
1981 $10,246 - $972 -
1980 $12,183 - $790 -
1979 $11,322 - $687 -
1978 $9,517 - $592 -
1977 $7,711 - $484 -
1976 $6,659 - $324 -
1975 $6,259 - $331 -
1974 $5,660 - $331 -
1973 $5,065 - $306 -
1972 $3,824 - $282.1 -
1971 $3,204 - $207 -
1970 $2,771 - $192.3 -
1969 $2,281 - $175.2 -
1968 $2,025 - $163.1 -
1967 $1,886 - $170 -
1966 $1,871 - $174.9 -
1965 $1,774 - $166.2 -
1964 $1,637 - $164.4 -
1963 $1,502 - $154.9 -
1962 $1,431 - $166.5 -
1961 $1,316 - $163 -
1960 $1,162 - $154.8 -

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

GeoRank.org/economy/germany/saint-vincent | CC BY

Germany's GDP per capita is $56,104, ranking 19/197, compared to $11,501 in Saint Vincent, ranking 81/197. Adjusted for purchasing power (GDP per capita PPP), Germany ranks 20th at $73,552, while Saint Vincent ranks 92nd at $21,272.

Economic indicators

Germany Saint Vincent
Gross domestic product
$4.69T
2024
$1.16B
2024
GDP rank
3/197
2024
186/197
2024
GDP growth
-0.5%
2023-2024
4.06%
2023-2024
GDP per capita
$56,104
2024
$11,501
2024
GDP per capita rank
19/197
2024
81/197
2024
GDP per capita, PPP
$73,552
2024
$21,272
2024
GDP per capita PPP rank
20/197
2024
92/197
2024
Government debt
$2.97T
2024
$1.07B
2024
Debt-to-GDP ratio
63.5%
2024
92.7%
2024
Government debt per person
$35,606
2024
$10,659
2024
Government debt per person rank
21/185
2024
56/185
2024
Average annual personal income after taxes
$41,775
2026
$12,573
2026
Market capitalization of domestic companies
$2.04T
2024
n/a
Number of millionaires
2,675,000
2025
n/a
Number of billionaires
171
2025
n/a
Income share by richest 10%
25%
2020
n/a
Income share by poorest 10%
2.9%
2020
n/a
Government expenditure, % of GDP
49.4%
2024
39.1%
2024
Consumer prices inflation
2.26%
2023-2024
3.63%
2023-2024
Unemployment rate
3.37%
2024
18.8%
2008
Population
82575542
99237

Spending and national debt comparison by year

Germany
Spending

Debt
Saint Vincent
Spending

Debt
1x
Year % of GDP
Germany Saint Vincent
Government spending Government debt Government spending Government debt
2024 49.4% 63.5% 39.1% 92.7%
2023 48.1% 62.4% 38.9% 89.4%
2022 48.6% 64.4% 36.6% 86.3%
2021 50.7% 68% 37.2% 88.4%
2020 51.1% 68% 32.9% 80.2%
2019 45.5% 58.7% 29.2% 68.2%
2018 44.7% 60.8% 26.3% 69.4%
2017 44.5% 64% 26.6% 69%
2016 44.7% 68.3% 27.1% 79.4%
2015 44.5% 71.2% 27.6% 75.1%
2014 44.5% 74.5% 30.4% 75%
2013 45.2% 77.5% 29.4% 69.9%
2012 45.1% 79.8% 26.5% 68.1%
2011 45.3% 78.5% 29.4% 64%
2010 48.1% 81% 31.1% 61.1%
2009 48.3% 72.4% 31% 57.2%
2008 44.4% 65.2% 28.4% 50.3%
2007 43.5% 63.7% 27.1% 48.5%
2006 45.3% 66.4% 26.1% 44.7%
2005 46.9% 67.1% 26.7% 50.5%
2004 47% 65% 24.9% 58.6%
2003 48.5% 63.3% 26% 55.3%
2002 48.2% 59.8% 25.7% 53.2%
2001 47.7% 58.1% 24.4% 52%
2000 48.1% 59.2% 23.8% 54.3%
1999 48.5% 60.3% 25.2% 52.9%
1998 48.3% 59.4% 25.2% 39.5%
1997 48.8% 58.8% 26% 38.8%
1996 49.6% 57.7% 20.9% 40.7%
1995 55.2% 54.9% 19.9% 46.8%
1994 48.3% 47.5% 22.4% 52.8%
1993 48.3% 45.1% 22.3% 48.1%
1992 47.4% 41.4% 25.4% 49.6%
1991 46.5% 39% 25.5% 52.1%
1990 44.7% 40.7% 23.1% 53.9%
1989 44.3% 39.2% 27.6% -
1988 45.6% 40.5% 24.8% -
1987 46% 40.1% 23.7% -
1986 45.7% 39.1% 22.3% -
1985 46.6% 39.2% 21.4% -
1984 47.2% 38.7% 23.1% -
1983 47.9% 38% - -
1982 49.1% 36.4% - -
1981 49% 33.6% - -
1980 48.2% 30.1% - -
1979 47.4% 28.2% - -
1978 47.7% 27.4% - -
1977 49% 26% - -
1976 49.4% 25.1% - -
1975 50.3% 23.7% - -
1974 46% 18.5% - -
1973 42.4% 17.3% - -
1972 41.8% 18% - -
1971 40.9% 17.7% - -
1970 39.5% 17.7% - -
1969 29.7% 20.3% - -
1968 28.5% 22.5% - -
1967 28.8% 22.5% - -
1966 28.3% 19.8% - -
1965 28.4% 18.7% - -
1964 29% 18.2% - -
1963 29.1% 18.1% - -
1962 29.2% 17.6% - -
1961 28.8% 18.7% - -
1960 22.9% 18.4% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1990, retrieved 2026-02-20).

GeoRank.org/economy/germany/saint-vincent | CC BY

In 2024, Germany's government spending was $2.32T, accounting for 49.4% of its GDP, while Saint Vincent spent $453M, or 39.1% of GDP.

Debt-to-GDP ratio is 63.5% in Germany and 92.7% in Saint Vincent, ranking 72/185 and 29/185, respectively.

Government deficit by year

Deficit/surplus
Germany

Saint Vincent
1x
Year Deficit/surplus, % of GDP
Germany Saint Vincent
2024 -2.66% -12.9%
2023 -2.49% -12%
2022 -1.91% -9.35%
2021 -3.17% -7.19%
2020 -4.38% -5.92%
2019 1.33% -3.45%
2018 1.88% -1.65%
2017 1.34% -1.56%
2016 1.13% 0.04%
2015 0.91% -2.01%
2014 0.73% -2.82%
2013 0.12% -5.81%
2012 -0.05% -1.81%
2011 -0.84% -3.5%
2010 -4.42% -3.7%
2009 -3.18% -2.85%
2008 -0.26% -1.3%
2007 0.15% -3.07%
2006 -1.76% -3.13%
2005 -3.37% -4.3%
2004 -3.42% -2.71%
2003 -3.83% -2.51%
2002 -4.09% -2%
2001 -3.12% -1.6%
2000 -1.71% -0.82%
1999 -1.87% -1.93%
1998 -2.65% -1.81%
1997 -3.03% -2.77%
1996 -3.64% 1.57%
1995 -9.44% 1.08%
1994 -2.54% 0.12%
1993 -3.11% -1.46%
1992 -2.63% -3.25%
1991 -3.21% -0.47%
1990 -1.94% 1.69%
1989 0.08% -1.92%
1988 -2.02% 0.59%
1987 -1.85% 1.1%
1986 -1.18% 2.32%
1985 -1.18% 4.23%
1984 -2.04% 2.5%
1983 -2.95% -
1982 -3.56% -
1981 -4.03% -
1980 -3.02% -
1979 -2.71% -
1978 -2.62% -
1977 -2.56% -
1976 -3.5% -
1975 -5.78% -
1974 -1.69% -
1973 1.14% -
1972 -0.37% -
1971 0.16% -
1970 0.53% -
1969 -0.43% -
1968 1.39% -
1967 2.73% -
1966 1.76% -
1965 2.26% -
1964 1.49% -
1963 1.43% -
1962 0.49% -
1961 -0.12% -
1960 -0.34% -
1959 0.77% -
1958 1.77% -
1957 1.99% -
1956 0.59% -
1955 -1.41% -
1954 -0.37% -
1953 -0.13% -
1952 0% -
1951 1.15% -
1950 1.81% -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 - -
1939 - -
1938 - -
1937 - -
1936 - -
1935 - -
1934 -0.64% -
1933 -0.43% -
1932 -1.11% -
1931 -1.03% -
1930 -1.52% -
1929 -0.9% -
1928 -1.47% -
1927 -0.44% -
1926 -1.3% -
1925 0.34% -
1924 - -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 0.007% -
1912 -0.26% -
1911 0.06% -
1910 -0.21% -
1909 0.11% -
1908 -0.11% -
1907 -0.14% -
1906 0.76% -
1905 1.21% -
1904 0.41% -
1903 0.88% -
1902 0.08% -
1901 0.91% -
1900 0.27% -
1899 0.6% -
1898 0.47% -
1897 0.39% -
1896 0.63% -
1895 0.47% -
1894 0.44% -
1893 0.42% -
1892 -0.24% -
1891 1.18% -
1890 0.12% -
1889 1.16% -
1888 0.62% -
1887 0.88% -
1886 0.23% -
1885 0.21% -
1884 0.23% -
1883 0.55% -
1882 0.41% -
1881 0.12% -
1880 -0.13% -

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

GeoRank.org/economy/germany/saint-vincent | CC BY

In 2024, Germany's government deficit, the difference between spending and revenue, was $125B, equivalent to 2.66% of GDP. This compares to Saint Vincent's deficit of $149M, or 12.9% of GDP.

Over the past 41 years, Germany recorded a fiscal deficit in 32 of those years, while Saint Vincent ran a deficit in 31 years. On average, Germany posted an annual deficit equal to 1.93% of GDP, compared to deficit of 2.35% of GDP for Saint Vincent.

Inflation comparison by year

Inflation
Germany

Saint Vincent
1x
Year Consumer prices inflation
Germany Saint Vincent
2024 2.26% 3.63%
2023 5.95% 4.56%
2022 6.87% 5.66%
2021 3.07% 1.57%
2020 0.14% -0.63%
2019 1.45% 0.91%
2018 1.73% 2.32%
2017 1.51% 2.15%
2016 0.49% -0.15%
2015 0.51% -1.73%
2014 0.91% 0.19%
2013 1.5% 0.81%
2012 2.01% 2.6%
2011 2.08% 3.19%
2010 1.1% 0.75%
2009 0.31% 0.42%
2008 2.63% 10.1%
2007 2.3% 7.24%
2006 1.58% 2.74%
2005 1.55% 3.73%
2004 1.67% 2.96%
2003 1.03% 0.21%
2002 1.42% 1.86%
2001 1.98% 0.9%
2000 1.44% 0.17%
1999 0.59% 1.01%
1998 0.91% 2.14%
1997 1.94% 0.44%

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

GeoRank.org/economy/germany/saint-vincent | CC BY

Over the past 28 years, Germany has recorded an average annual inflation rate of 1.82%, compared with 2.13% in Saint Vincent. In 2024, inflation was 2.26% in Germany and 3.63% in Saint Vincent.

Top exports between countries

Germany
Export category Export value
Machinery & equipment $24M
Chemicals & pharma $666K
Animal & marine products $479K
Textiles & consumer goods $208K
Processed food, beverages & tobacco $174K
Miscellaneous $116K
Raw materials & minerals $83K
Metals $67K
Wood & paper products $36K
Raw agricultural goods $6K
Saint Vincent
Export category Export value
Machinery & equipment $5K
Chemicals & pharma $1K
Metals $1K

Balance of trade

Germany Saint Vincent
Current account balance
$270B
2024
-$157M
2024
Current account balance ranking
2/190
2024
93/190
2024
Current account balance, % of GDP
+5.77%
2024
-13.5%
2024
Goods imports
$1.21T
2024
$445M
2024
Goods exports
$1.47T
2024
$59.2M
2024
Service imports
$548B
2024
$196M
2024
Service exports
$470B
2024
$366M
2024
Imports of goods and services, % of GDP
37.7%
2024
n/a
Exports of goods and services, % of GDP
41.4%
2024
15.3%
2025

Economic freedom indices

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

Germany Saint Vincent
Economic freedom 71.7 60
Economic freedom ranking 30/197 98/197
Property rights 95.5 65.2
Government integrity 84.5 63.3
Judicial effectiveness 94.6 76.9
Tax burden 60.5 82
Government spending 28.8 56.2
Fiscal health 83.1 2.8
Business freedom 79.8 67.3
Labor freedom 52.2 60.1
Monetary freedom 72.5 77.3
Trade freedom 79.4 58.8
Investment freedom 60 70
Financial freedom 70 40

Economic freedom comparison by year

Germany
Saint Vincent
1x
Year Economic freedom index
Germany Saint Vincent
2026 71.7 60
2025 71.6 60.1
2024 72.1 59.8
2023 73.7 63.5
2022 76.1 65.7
2021 72.5 66.3
2020 73.5 66.8
2019 73.5 65.8
2018 74.2 67.7
2017 73.8 65.2
2016 74.4 68.8
2015 73.8 68
2014 73.4 67
2013 72.8 66.7
2012 71 66.5
2011 71.8 66.9
2010 71.1 66.9
2009 70.5 64.3
2008 70.6 -
2007 70.8 -
2006 70.8 -
2005 68.1 -
2004 69.5 -
2003 69.7 -
2002 70.4 -
2001 69.5 -
2000 65.7 -
1999 65.6 -
1998 64.3 -
1997 67.5 -
1996 69.1 -
1995 69.8 -

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

GeoRank.org/economy/germany/saint-vincent | CC BY

The Economic Freedom Index for Germany is 71.7, ranking 30/197, compared to 60 for Saint Vincent, ranking 98/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Germany Saint Vincent
Services, % of GDP
64%
2024
66.4%
2024
Industry, % of GDP
25.6%
2024
15.4%
2024
Agriculture, forestry, and fishing, % of GDP
0.91%
2024
3.55%
2024
GNI, Atlas method
$4.6T
2024
$1.11B
2024
GNI per capita, PPP
$76,180
2024
$21,150
2024
Total reserves including gold
$378B
2024
$317M
2024
Total reserves ranking
10/177
2024
167/177
2024
Net foreign direct investment
$32.6B
2024
-$74M
2024
Net inflows of foreign direct investment
$47.6B
2024
$139M
2024
Net outflows of foreign direct investment
$80.2B
2024
-$1.92M
2024
Servicing debt to the IMF, % of GNI n/a
3.84%
2024
Poverty at national poverty lines
14.8%
2021
n/a
Gross capital formation, % of GDP
21.5%
2024
n/a

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/germany/saint-vincent | 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 (1880–1990, 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 (2020–2024, 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.

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.