Skip to content

Greece economy ranking: GDP & GDP per capita, debt

Updated on by Georank team

Greece ranked 53/197 by economy size with a GDP of $256B and 49/197 by GDP per capita at $24,626. Greece has $397B in government debt, with a debt-to-GDP ratio of 154.8%.

In 2024, Greece made up 0.23% of the world's economy, compared to 0.31% in 1960.

Greece GDP & GDP growth by year

GDP, current $
Inflation-adjusted growth
1x
Year GDP GDP growth
2024 $256,238,371,778 2.09%
2023 $242,946,187,738 2.14%
2022 $217,990,189,601 5.52%
2021 $218,303,801,895 8.65%
2020 $191,362,985,555 -9.2%
2019 $207,305,649,887 2.28%
2018 $213,298,873,494 2.06%
2017 $200,381,103,984 1.47%
2016 $193,097,239,006 -0.03%
2015 $194,567,373,678 -0.23%
2014 $233,911,581,521 0.79%
2013 $236,556,279,641 -2.27%
2012 $238,841,140,018 -8.33%
2011 $283,228,079,776 -9.88%
2010 $296,417,644,404 -5.69%
2009 $326,829,054,686 -4.12%
2008 $351,121,399,546 0.06%
2007 $314,226,996,944 3.51%
2006 $269,073,415,334 6.44%
2005 $242,315,668,619 1.18%
2004 $234,979,615,898 5.38%
2003 $196,930,509,813 5.8%
2002 $150,253,800,086 4.68%
2001 $132,050,474,720 4.65%
2000 $125,760,166,225 4.14%
1999 $137,131,371,955 2.66%
1998 $139,612,812,176 3.44%
1997 $138,766,067,640 3.6%
1996 $142,502,984,145 1.38%
1995 $134,974,613,914 2.1%
1994 $114,980,063,202 2%
1993 $107,295,704,518 -1.6%
1992 $114,608,178,405 0.7%
1991 $103,680,863,713 3.1%
1990 $96,529,587,274 0%
1989 $78,067,933,277 3.8%
1988 $75,200,610,137 4.29%
1987 $64,739,630,096 -2.26%
1986 $55,595,445,472 0.52%
1985 $47,155,741,426 2.51%
1984 $47,352,146,312 2.01%
1983 $48,741,397,059 -1.08%
1982 $53,858,346,939 -1.13%
1981 $51,618,456,335 -1.55%
1980 $56,039,256,595 0.68%
1979 $53,724,121,435 3.28%
1978 $43,654,480,519 7.25%
1977 $35,673,080,481 2.94%
1976 $30,719,552,239 6.85%
1975 $28,129,128,587 6.37%
1974 $24,998,715,909 -6.44%
1973 $22,037,019,563 8.09%
1972 $16,650,659,091 10.2%
1971 $14,388,806,818 7.84%
1970 $12,957,113,636 8.93%
1969 $11,454,106,327 11.6%
1968 $9,950,331,206 7.2%
1967 $9,146,592,856 5.67%
1966 $8,472,021,467 6.49%
1965 $7,582,209,670 10.8%
1964 $6,576,906,345 9.41%
1963 $5,813,285,627 11.8%
1962 $5,140,542,929 0.36%
1961 $4,892,397,431 13.2%
1960 $4,274,890,307 -

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

GeoRank.org/economy/greece | CC BY

Greece GDP per capita by year

GDP per capita
GDP per capita, PPP
1x
Year Current $
GDP per capita GDP per capita, PPP
2024 $24,626 $44,327
2023 $23,344 $42,711
2022 $20,887 $39,612
2021 $20,655 $33,531
2020 $17,887 $29,533
2019 $19,335 $31,927
2018 $19,873 $29,792
2017 $18,632 $28,682
2016 $17,919 $27,505
2015 $17,981 $26,608
2014 $21,475 $26,450
2013 $21,573 $25,731
2012 $21,624 $24,583
2011 $25,505 $25,693
2010 $26,653 $27,839
2009 $29,425 $29,963
2008 $31,696 $30,441
2007 $28,441 $28,896
2006 $24,416 $28,076
2005 $22,054 $25,004
2004 $21,449 $24,826
2003 $18,021 $23,253
2002 $13,782 $21,985
2001 $12,157 $20,304
2000 $11,638 $18,820
1999 $12,743 $17,758
1998 $13,023 $17,434
1997 $13,016 $16,630
1996 $13,433 $15,778
1995 $12,779 $15,218
1994 $10,937 $14,667
1993 $10,257 $14,150
1992 $11,021 $14,130
1991 $10,047 $13,824
1990 $9,467 $13,126
1989 $7,738 -
1988 $7,492 -
1987 $6,474 -
1986 $5,578 -
1985 $4,747 -
1984 $4,785 -
1983 $4,950 -
1982 $5,502 -
1981 $5,305 -
1980 $5,812 -
1979 $5,627 -
1978 $4,629 -
1977 $3,832 -
1976 $3,343 -
1975 $3,109 -
1974 $2,789 -
1973 $2,468 -
1972 $1,873 -
1971 $1,629 -
1970 $1,474 -
1969 $1,306 -
1968 $1,138 -
1967 $1,053 -
1966 $984 -
1965 $887 -
1964 $773 -
1963 $686 -
1962 $608 -
1961 $583 -
1960 $513 -

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

GeoRank.org/economy/greece | CC BY

Greece has a GDP per capita of $24,626, ranking 49/197, a GDP per capita based on purchasing power parity (PPP) of $44,327, ranking 52/197, and a median annual after tax income of $14,396, ranking 58/197.

Greece GDP rankings by year

GDP
GDP per capita
GDP per capita, PPP
1x
Year Rank
GDP GDP per capita GDP per capita, PPP
2024 53 46 47
2023 54 47 49
2022 55 49 50
2021 51 47 49
2020 51 48 50
2019 52 48 52
2018 51 47 50
2017 51 47 50
2016 48 46 51
2015 47 46 51
2014 45 43 48
2013 46 42 48
2012 44 40 49
2011 37 36 47
2010 35 34 43
2009 31 31 38
2008 30 31 40
2007 30 33 42
2006 29 33 37
2005 29 32 39
2004 29 32 38
2003 29 33 39
2002 28 34 39
2001 31 36 40
2000 33 40 42
1999 30 34 39
1998 30 33 38
1997 32 34 37
1996 32 33 36
1995 32 33 35
1994 30 34 36
1993 30 35 36
1992 30 32 35
1991 31 33 34
1990 32 35 37
1989 31 35 -
1988 31 34 -
1987 31 35 -
1986 32 36 -
1985 34 38 -
1984 33 38 -
1983 33 37 -
1982 30 37 -
1981 31 38 -
1980 30 35 -
1979 26 33 -
1978 28 32 -
1977 30 33 -
1976 30 33 -
1975 28 34 -
1974 28 34 -
1973 25 33 -
1972 25 34 -
1971 24 33 -
1970 23 33 -
1969 23 27 -
1968 25 28 -
1967 26 27 -
1966 26 27 -
1965 26 28 -
1964 27 28 -
1963 28 28 -
1962 28 30 -
1961 29 29 -
1960 29 28 -

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

GeoRank.org/economy/greece | CC BY

Compared with 2000, in 2024 Greece is ranked 53rd out of 182 by GDP (down from 33rd), 46th by GDP per capita (down from 40th), and 47th by GDP per capita PPP (down from 42nd).

Economic indicators

Greece Rank
Gross domestic product
$256B
2024
53/197
GDP growth
2.09%
2023-2024
133/194
GDP per capita
$24,626
2024
49/197
GDP per capita, PPP
$44,327
2024
52/197
Government debt
$397B
2024
23/185
Debt-to-GDP ratio
154.8%
2024
7/185
Government debt per person
$38,119
2024
16/185
Average annual personal income after taxes
$14,396
2026
58/197
Listed domestic companies
143
2024
41/103
Market capitalization of domestic companies
$83.2B
2024
41/100
Number of billionaires
16
2025
26/78
Billionaire frequency
1 in 530,165
2025
19/78
Income share by richest 10%
26%
2023
102/169
Income share by poorest 10%
2.7%
2023
93/169
Government expenditure, % of GDP
48%
2024
24/195
Consumer prices inflation
2.74%
2023-2024
116/195
Unemployment rate
10%
2024
39/196
Population
10181414
94/197

Government spending, deficit, and debt by year

Spending
Debt
Deficit/surplus
1x
Year % of GDP
Government spending Government debt Government deficit/surplus
2024 48% 154.8% 1.34%
2023 49.5% 165.2% -1.35%
2022 52.8% 178.4% -2.46%
2021 56.7% 197.8% -7.58%
2020 59.3% 209.9% -10.3%
2019 47.6% 183.7% -0.09%
2018 48.6% 189.6% 0.78%
2017 48.5% 182.6% 1.05%
2016 50.3% 183.7% 0.28%
2015 51.9% 180% -3.03%
2014 51.5% 182.8% -4.29%
2013 53% 180.5% -4.06%
2012 54.9% 164.3% -6.94%
2011 55.1% 175.1% -10.5%
2010 53.1% 147.8% -11.4%
2009 54.8% 128.5% -15.4%
2008 51.5% 110.9% -10.3%
2007 47.8% 104.6% -6.81%
2006 45.9% 105.3% -6.04%
2005 46.6% 109.9% -6.33%
2004 48.8% 105.5% -9.05%
2003 47.9% 104.3% -8.05%
2002 47.1% 107.9% -6.2%
2001 47.5% 110.5% -5.64%
2000 48.2% 108.9% -4.21%
1999 48% 102.8% -6.02%
1998 46.7% 100.8% -6.48%
1997 45.1% 102.6% -6.25%
1996 46.1% 103.7% -8.35%
1995 46.6% 100.4% -9.87%
1994 36.9% 99.7% -8.48%
1993 38.6% 101.7% -11.5%
1992 36.9% 81.1% -10.6%
1991 35.2% 75.7% -9.63%
1990 38.5% 74.2% -13.3%
1989 34.8% 60.7% -11.9%
1988 33.8% 57.9% -9.63%
1987 34% 53.2% -8.09%
1986 33.8% 47.8% -8.62%
1985 34.2% 47.3% -9.56%
1984 32% 40.6% -7.19%
1983 30.2% 34.1% -6.17%
1982 28.7% 29.7% -5.49%
1981 28.1% 27.1% -7.08%
1980 24.5% 22.8% -2.5%
1979 24.1% 22.7% -2.34%
1978 30.1% 32.3% -5.39%
1977 30.1% 24.5% -5.21%
1976 29.1% 23.7% -5.05%
1975 28.7% 24.1% -5.3%
1974 25.3% 22.5% -4.39%
1973 24.3% 22% -3.71%
1972 26.8% 26.5% -4.16%
1971 25.8% 25% -3.32%
1970 25.2% 24.7% -3.24%
1969 29.7% 25.8% -6.65%
1968 26.3% 23% -3.39%
1967 24.6% 21.1% -2.59%
1966 22.8% 19% -2.17%
1965 21.7% 16.5% -2.55%
1964 20.4% 21.3% -2.89%
1963 19.5% 22.6% -2.25%
1962 19.7% 16.6% -2.4%
1961 19.3% 14.4% -2.69%
1960 20% 13.4% -3.3%
1959 19.4% 11.7% -2.77%
1958 20.6% 10.4% -2.27%
1957 19.3% 12.6% -2.45%
1956 29.3% 13.7% -0.39%
1955 19.9% 15.1% -3.57%
1954 20% 17.4% -2.87%
1953 17.6% 20.2% -3.01%
1952 25.6% 23.9% -7.21%
1951 26.9% 19.3% -11.5%
1950 27.1% 14.4% -12.7%
1949 24.4% 14.7% -10.4%
1948 21.5% 15.6% -7.65%
1947 - - -
1946 - - -
1945 - - -
1944 - - -
1943 - - -
1942 - - -
1941 - - -
1940 - - -
1939 20.9% 77.8% 0.48%
1938 18.9% 76.7% 1.78%
1937 19.7% 73% 1.06%
1936 21.5% 80.3% 0.95%
1935 22.1% 81.8% 0.72%
1934 20.4% 80.5% 0.88%
1933 21% 88.1% -2.79%
1932 22% 97.8% -1.78%
1931 30.4% 105.9% -4%
1930 26% 89.8% -2.23%
1929 40.8% 84.5% -18.7%
1928 20.6% 80.4% -0.27%
1927 17.7% 84% 2.65%
1926 - - -
1925 - - -
1924 - - -
1923 - - -
1922 - - -
1921 - - -
1920 - - -
1919 - - -
1918 - - -
1917 - - -
1916 - - -
1915 - - -
1914 - - -
1913 17.7% 64.7% -8.96%
1912 20.1% 80.2% -7.43%
1911 19.3% 81.1% -4.61%
1910 19.7% 110.7% -1.53%
1909 18.1% 111.1% -2.64%
1908 19.2% 121.8% -1.54%
1907 17.8% 117.9% -1.23%
1906 18.5% 148.9% 0.66%
1905 17.4% 164.1% 0.91%
1904 18.1% 189.6% -0.04%
1903 17.7% 194.5% -0.22%
1902 20.6% 209.3% -1.67%
1901 18.6% 205.5% 0.1%
1900 19.8% 218.1% 0.41%
1899 17.5% 190.7% 0.86%
1898 51.4% 181% -34.5%
1897 22.9% 190.7% -8.46%
1896 17.1% 223.5% 0.82%
1895 15.4% 193.3% 0.37%
1894 17% 217% 2.91%
1893 15.4% 161.6% 0.14%
1892 19.3% 152.5% -2.28%
1891 21.7% 144.2% -6.48%
1890 25.7% 134.1% -11.2%
1889 31.1% 113.5% -15.7%
1888 21% 119.9% -3.59%
1887 21.6% 88.7% -4.88%
1886 22% 48.2% -11.5%
1885 23.5% 53.8% -12.1%
1884 21.4% 73.8% -7.16%
1883 17.7% - -2.42%
1882 15.2% - -1.69%
1881 24.7% - -14.5%
1880 23.6% - -13.5%

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/greece | CC BY

This chart shows Greece's government spending, budget balance, and debt over time, each expressed as a share of GDP.

Over the past 50 years, Greece recorded a fiscal deficit in 46 of them, with an average annual deficit equal to 6.53% of GDP. In 2024, government spending reached $123B (48% of GDP), with a surplus of 1.34%.

The national debt reached $397B, ranking 23rd out of 185 countries by total size, with a debt-to-GDP ratio of 154.8%, ranking 7th.

Inflation rate by year

1x
Year Inflation
2024 2.74%
2023 3.46%
2022 9.65%
2021 1.22%
2020 -1.25%
2019 0.25%
2018 0.63%
2017 1.12%
2016 -0.83%
2015 -1.74%
2014 -1.31%
2013 -0.92%
2012 1.5%
2011 3.33%
2010 4.71%
2009 1.21%
2008 4.15%
2007 2.9%
2006 3.2%
2005 3.55%
2004 2.9%
2003 3.53%
2002 3.63%
2001 3.37%
2000 3.15%
1999 2.64%
1998 4.77%
1997 5.54%
1996 8.19%
1995 8.93%
1994 10.9%
1993 14.4%
1992 15.9%
1991 19.5%
1990 20.4%
1989 13.7%
1988 13.5%
1987 16.4%
1986 23%
1985 19.3%
1984 18.5%
1983 20.2%
1982 21%
1981 24.5%
1980 24.7%
1979 19.1%
1978 12.6%
1977 12.4%
1976 13%
1975 13.6%
1974 26.6%
1973 15.4%
1972 4.33%
1971 3.29%
1970 2.84%
1969 2.64%
1968 0.14%
1967 1.84%
1966 4.9%
1965 3.22%
1964 0.62%
1963 3.18%
1962 -0.48%
1961 2.1%
1960 1.48%

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

GeoRank.org/economy/greece | CC BY

Over the past 20 years, Greece has had an average annual inflation rate of 1.88%. In 2024, inflation was 2.74%. The bar chart above shows consumer price inflation by year.

Balance of trade

Greece Rank
Current account balance
-$18.2B
2024
182/190
Current account balance, % of GDP
-7.11%
2024
148/190
Goods imports
$91.2B
2024
41/189
Goods exports
$52.6B
2024
51/189
Service imports
$31.1B
2024
39/189
Service exports
$55.8B
2024
30/189
Imports of goods and services, % of GDP
47.7%
2024
85/181
Exports of goods and services, % of GDP
42.1%
2024
73/193

Greece top 10 trading partners

Greece's biggest trading partner accounting for 9.32% of all exports and imports is Germany, with a trade balance between the two of -$2.48B: Greece exports $9B worth of goods and services to Germany and imports $11.5B.

Below is the list of the top 10 trade partners of Greece.

Rank Country Trade value Share of total trade Export to Import from Top export to Top import from
1 Germany $20.5B 9.32% $9B $11.5B Transport & tourism services Machinery & equipment
2 Italy $16.2B 7.37% $7.68B $8.52B Transport & tourism services Machinery & equipment
3 United Kingdom $10.3B 4.68% $7.39B $2.89B Transport & tourism services Transport & tourism services
4 China $9.69B 4.41% $1.64B $8.05B Transport & tourism services Machinery & equipment
5 United States $9.29B 4.23% $6.21B $3.08B Transport & tourism services Raw materials & minerals
6 France $9.03B 4.11% $4B $5.03B Transport & tourism services Chemicals & pharma
7 Netherlands $8.81B 4.01% $2.9B $5.91B Transport & tourism services Machinery & equipment
8 Bulgaria $6.85B 3.12% $3.68B $3.17B Raw materials & minerals Raw materials & minerals
9 Turkey $6.66B 3.03% $2.67B $3.99B Transport & tourism services Machinery & equipment
10 Spain $6.44B 2.93% $2.71B $3.72B Transport & tourism services Textiles & consumer goods

Top 10 exports

Greece Rank
Transport & tourism services $45.4B 20/188
Raw materials & minerals $17.9B 45/193
Chemicals & pharma $6.5B 39/193
Machinery & equipment $6.17B 52/193
Processed food, beverages & tobacco $6.17B 37/192
Metals $5.71B 47/192
Business & finance services $4.86B 44/188
Textiles & consumer goods $3.32B 47/193
Animal & marine products $2.88B 33/192
Raw agricultural goods $2.63B 48/193

Top 10 imports

Greece Rank
Raw materials & minerals $25.1B 27/193
Transport & tourism services $22.2B 32/188
Machinery & equipment $20.5B 52/193
Chemicals & pharma $12.9B 38/193
Textiles & consumer goods $7.64B 41/193
Metals $6.83B 41/193
Processed food, beverages & tobacco $5.23B 40/193
Business & finance services $4.93B 47/188
Animal & marine products $4.2B 24/193
Raw agricultural goods $2.69B 45/193

Economic freedom indices

Greece Rank
Economic freedom 63.2 82/197
Property rights 78 40/182
Government integrity 54.8 53/182
Judicial effectiveness 68 50/182
Tax burden 59.9 171/182
Government spending 24.7 166/180
Fiscal health 78.9 82/181
Business freedom 77.8 40/182
Labor freedom 59.7 54/182
Monetary freedom 72.6 103/180
Trade freedom 79.4 41/181
Investment freedom 55 91/181
Financial freedom 50 80/181

Economic freedom by year

1x
Year Index
Economic freedom Judicial effectiveness Tax burden Government spending Fiscal health
2026 63.2 68 59.9 24.7 78.9
2025 60.6 70.4 60 14 58.9
2024 55.1 69.9 60.6 3.4 5.6
2023 56.9 52.9 60.8 9.7 18.1
2022 61.5 69.9 59.9 17.9 67.6
2021 60.9 53.5 59.9 34.2 80
2020 59.9 48.6 59 31.5 80
2019 57.7 49.5 59.1 23.3 79
2018 57.3 59 60.4 20.9 70.5
2017 55 56.1 61.1 5.4 58.1
2016 53.2 - 64.4 0 -
2015 54 - 64.2 0 -
2014 55.7 - 65.9 19.2 -
2013 55.4 - 66.2 24.7 -
2012 55.4 - 65.3 16.2 -
2011 60.3 - 65.9 34.3 -
2010 62.7 - 65.9 41.9 -
2009 60.8 - 66.5 46.3 -
2008 60.6 - 65.6 57.8 -
2007 58.7 - 62.4 53.4 -
2006 60.1 - 61 53.9 -
2005 59 - 58 54.4 -
2004 59.1 - 58.4 53.2 -
2003 58.8 - 57.2 50.3 -
2002 59.1 - 50.1 54.4 -
2001 63.4 - 50.9 54.4 -
2000 61 - 52.2 54.4 -
1999 61 - 47.6 55.8 -
1998 60.6 - 53.3 52.5 -
1997 59.6 - 54 54.4 -
1996 60.5 - 58 50.5 -
1995 61.2 - 62.5 55.3 -

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

GeoRank.org/economy/greece | CC BY

Greece is ranked 75/174 for economic freedom with a score of 63.2, compared to 75/162 and a score of 60.1 in 2006.

Other economic metrics

Greece Rank
Services, % of GDP
68%
2024
32/191
Industry, % of GDP
15%
2024
163/194
Agriculture, forestry, and fishing, % of GDP
3.77%
2024
120/193
GNI, Atlas method
$236B
2024
54/194
GNI per capita, PPP
$43,340
2024
49/191
Total reserves including gold
$15.2B
2024
67/177
Net foreign direct investment
-$4.52B
2024
160/189
Net inflows of foreign direct investment
$6.74B
2024
43/193
Net outflows of foreign direct investment
$2.22B
2024
43/193
Poverty at national poverty lines
18.8%
2021
109/176
Gross capital formation, % of GDP
18.3%
2024
138/178

Compare Greece vs other countries

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/greece | CC BY

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, 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 (2023–2024, 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.