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Economy of Italy vs Poland compared: GDP & Debt

Updated on by Georank

Italy has a GDP of $2.55T compared to $1.04T for Poland, ranking 9/197 and 21/197 by economy size, respectively.

Italy has $3.5T in government debt (137.1% of GDP), compared to $609B (58.8% of GDP) in Poland.

Italy vs Poland GDP by year

Italy
Poland
1x
Year GDP, current $
Italy Poland
2025 $2,551,556,954,100 $1,035,491,784,197
2024 $2,383,435,562,458 $917,767,106,147
2023 $2,316,882,296,366 $812,451,193,396
2022 $2,104,067,630,319 $695,607,470,875
2021 $2,179,207,773,596 $689,170,230,665
2020 $1,907,481,094,079 $605,914,237,904
2019 $2,019,606,796,584 $602,683,770,145
2018 $2,099,435,266,459 $594,616,632,477
2017 $1,970,720,904,585 $528,356,723,263
2016 $1,887,111,188,177 $473,259,623,976
2015 $1,845,428,048,839 $480,054,118,583
2014 $2,173,255,507,986 $542,134,167,179
2013 $2,153,225,581,941 $518,179,836,405
2012 $2,097,929,495,122 $498,148,649,703
2011 $2,306,974,020,278 $527,848,543,023
2010 $2,144,936,254,535 $478,111,630,684
2009 $2,209,484,319,013 $440,891,472,247
2008 $2,417,508,414,187 $535,612,030,672
2007 $2,222,524,108,128 $429,715,132,138
2006 $1,958,563,654,386 $345,897,630,736
2005 $1,864,982,261,287 $306,999,913,151
2004 $1,812,808,753,295 $256,268,656,145
2003 $1,582,930,016,539 $218,561,225,998
2002 $1,281,746,271,196 $199,694,463,256
2001 $1,172,041,488,806 $191,823,200,371
2000 $1,149,661,363,439 $172,953,527,033
1999 $1,255,004,736,464 $170,704,452,715
1998 $1,272,729,786,997 $175,282,269,667
1997 $1,244,988,176,444 $159,893,964,917
1996 $1,314,776,508,972 $160,813,026,223
1995 $1,177,369,428,266 $142,838,527,115
1994 $1,101,750,159,702 $110,803,635,288
1993 $1,067,412,587,671 $96,043,157,273
1992 $1,323,204,350,354 $94,337,050,693
1991 $1,249,092,439,519 $85,500,935,935
1990 $1,183,945,130,899 $65,977,748,211
1989 $930,801,709,004 -
1988 $893,663,934,841 -
1987 $807,570,134,449 -
1986 $641,862,313,287 -
1985 $453,259,761,687 -
1984 $438,896,930,791 -
1983 $444,063,496,940 -
1982 $428,257,421,618 -
1981 $431,695,533,981 -
1980 $478,356,755,596 -
1979 $394,584,507,108 -
1978 $315,784,469,541 -
1977 $258,190,019,750 -
1976 $225,235,205,862 -
1975 $228,220,643,535 -
1974 $200,024,444,775 -
1973 $175,896,529,392 -
1972 $145,594,833,997 -
1971 $124,959,712,859 -
1970 $113,656,669,765 -
1969 $100,996,667,239 -
1968 $91,485,448,148 -
1967 $84,401,995,573 -
1966 $76,622,444,787 -
1965 $70,717,012,186 -
1964 $65,720,771,779 -
1963 $60,035,924,618 -
1962 $52,413,872,628 -
1961 $46,649,487,320 -
1960 $42,012,422,612 -

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

GeoRank.org/economy/italy/poland | CC BY

GDP per capita in Italy vs Poland by year

Italy
GDP per capita

GDP per capita, PPP
Poland
GDP per capita

GDP per capita, PPP
1x
Year Current $
Italy Poland
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $43,309 - $28,420 -
2024 $40,430 $62,014 $25,104 $51,263
2023 $39,280 $60,030 $22,145 $48,473
2022 $35,654 $57,261 $18,891 $46,778
2021 $36,853 $49,825 $18,636 $41,060
2020 $32,091 $44,436 $16,151 $37,089
2019 $33,813 $46,662 $15,875 $35,882
2018 $35,062 $43,387 $15,658 $32,345
2017 $32,844 $42,142 $13,913 $30,170
2016 $31,392 $40,483 $12,464 $28,360
2015 $30,640 $37,384 $12,638 $26,988
2014 $36,028 $36,666 $14,262 $25,460
2013 $35,702 $36,459 $13,622 $24,434
2012 $34,854 $36,281 $13,087 $23,728
2011 $38,432 $36,392 $13,868 $22,809
2010 $35,857 $34,974 $12,568 $20,991
2009 $37,100 $34,502 $11,556 $19,300
2008 $40,829 $35,422 $14,049 $18,372
2007 $37,826 $34,108 $11,273 $16,833
2006 $33,537 $32,454 $9,069 $15,205
2005 $32,063 $30,138 $8,044 $13,936
2004 $31,348 $29,581 $6,712 $13,413
2003 $27,578 $29,249 $5,721 $12,329
2002 $22,451 $28,833 $5,223 $11,841
2001 $20,570 $28,134 $5,015 $11,175
2000 $20,190 $27,152 $4,521 $10,721
1999 $22,050 $25,655 $4,416 $10,081
1998 $22,365 $25,075 $4,534 $9,521
1997 $21,884 $23,937 $4,137 $8,967
1996 $23,123 $23,101 $4,164 $8,310
1995 $20,712 $22,446 $3,701 $7,715
1994 $19,382 $21,369 $2,875 $7,040
1993 $18,782 $20,485 $2,497 $6,560
1992 $23,297 $20,196 $2,459 $6,193
1991 $22,007 $19,596 $2,236 $5,925
1990 $20,874 $18,680 $1,731 $6,185
1989 $16,424 - - -
1988 $15,781 - - -
1987 $14,268 - - -
1986 $11,341 - - -
1985 $8,009 - - -
1984 $7,758 - - -
1983 $7,851 - - -
1982 $7,574 - - -
1981 $7,640 - - -
1980 $8,476 - - -
1979 $7,006 - - -
1978 $5,623 - - -
1977 $4,614 - - -
1976 $4,042 - - -
1975 $4,116 - - -
1974 $3,629 - - -
1973 $3,213 - - -
1972 $2,677 - - -
1971 $2,311 - - -
1970 $2,112 - - -
1969 $1,886 - - -
1968 $1,718 - - -
1967 $1,595 - - -
1966 $1,459 - - -
1965 $1,357 - - -
1964 $1,272 - - -
1963 $1,171 - - -
1962 $1,030 - - -
1961 $923 - - -
1960 $837 - - -

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

GeoRank.org/economy/italy/poland | CC BY

Italy's GDP per capita is $43,309, ranking 29/197, compared to $28,420 in Poland, ranking 47/197. Adjusted for purchasing power (GDP per capita PPP), Italy ranks 31st at $62,014, while Poland ranks 43rd at $51,263.

Economic indicators

Italy Poland
Gross domestic product
$2.55T
2025
$1.04T
2025
GDP rank
9/197
2025
21/197
2025
GDP growth
0.54%
2024-2025
3.57%
2024-2025
GDP per capita
$43,309
2025
$28,420
2025
GDP per capita rank
29/197
2025
47/197
2025
GDP per capita, PPP
$62,014
2024
$51,263
2024
GDP per capita PPP rank
31/197
2024
43/197
2024
Government debt
$3.5T
2025
$609B
2025
Debt-to-GDP ratio
137.1%
2025
58.8%
2025
Government debt per person
$59,371
2025
$16,712
2025
Government debt per person rank
6/185
2025
39/185
2025
Average annual personal income after taxes
$23,424
2026
$20,616
2026
Market capitalization of domestic companies
$587B
2014
$316B
2025
Number of millionaires
1,235,000
2026
101,000
2026
Number of billionaires
89
2026
10
2026
Income share by richest 10%
25.8%
2023
22.9%
2023
Income share by poorest 10%
2.3%
2023
3.3%
2023
Government expenditure, % of GDP
51.1%
2025
50%
2025
Consumer prices inflation
1.53%
2024-2025
3.81%
2024-2025
Central bank interest rate n/a
3.75%
2026
Unemployment rate
6.1%
2025
3.02%
2025
Population
58708169
36007074

Spending and national debt comparison by year

Italy
Spending

Debt
Poland
Spending

Debt
1x
Year % of GDP
Italy Poland
Government spending Government debt Government spending Government debt
2025 51.1% 137.1% 50% 58.8%
2024 50.4% 134.7% 49.4% 55.1%
2023 53.6% 133.9% 46.9% 49.5%
2022 54.9% 138.4% 43.2% 48.8%
2021 56% 145.8% 43.6% 53%
2020 56.8% 154.4% 47.7% 56.6%
2019 48.4% 133.9% 41.4% 45.2%
2018 48.3% 134.2% 41% 48.2%
2017 48.8% 133.7% 41.1% 50.4%
2016 49% 134.2% 41.1% 54.1%
2015 50.2% 134.8% 41.5% 51.1%
2014 50.7% 134.8% 42.7% 51.1%
2013 50.9% 131.9% 43.2% 56.9%
2012 50.5% 125.9% 43.2% 54.5%
2011 49% 119.1% 44.1% 54.8%
2010 49.8% 118.8% 46% 53.7%
2009 51.1% 116.1% 44.9% 49.7%
2008 47.8% 105.8% 44% 46.6%
2007 46.6% 103.5% 42.8% 44.4%
2006 47.6% 106.3% 44.3% 47.1%
2005 47.1% 106.2% 44.1% 46.5%
2004 46.7% 104.7% 43.4% 45%
2003 47% 105.1% 45.3% 46.2%
2002 46.5% 105.9% 44.9% 41.4%
2001 47.1% 108.5% 44.6% 37%
2000 46.4% 108.7% 42.9% 36.3%
1999 47.1% 113.1% 42.4% 39.2%
1998 48% 113.9% 43.9% 38.6%
1997 49.3% 116.5% 46% 42.6%
1996 51.3% 118.9% 50.6% 43%
1995 51.4% 119.1% 47.3% 48.6%
1994 55.1% 130.8% - 64.3%
1993 57.8% 124.1% - 83.9%
1992 56.8% 113% - 81.9%
1991 55.3% 105.3% - 76.9%
1990 54.2% 101.7% - 89.7%
1989 51.6% 91.8% - -
1988 50.4% 89.2% - -
1987 49.8% 87.4% - -
1986 50.5% 83.4% - -
1985 49.8% 79.1% - -
1984 49.1% 73.1% - -
1983 48.9% 67.8% - -
1982 46.7% 61.8% - -
1981 44.6% 57.3% - -
1980 40.8% 55.1% - -
1979 40.1% 58.9% 35.6% -
1978 40.9% 59.9% 35.8% -
1977 38.5% 56% 35.6% -
1976 38.1% 57.3% 34.8% -
1975 39.1% 57.9% 34.1% -
1974 34.8% 50.8% 28.6% -
1973 35.3% 51.1% 24.5% -
1972 36.4% 48.2% 24.1% -
1971 34.4% 42.4% 24.1% -
1970 32.3% 37.8% 25.8% -
1969 32.1% 37% 26.3% -
1968 32.6% 36.4% 27.3% -
1967 17.9% 33.3% 29.6% -
1966 19.1% 33.4% 31.7% -
1965 18.6% 28.4% 31.8% -
1964 18.2% 27.2% 33.5% -
1963 16.7% 27.2% 33.3% -
1962 17.5% 29% 43% -
1961 17.3% 30% 42.8% -
1960 16.5% 31.4% 39.2% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1994, retrieved 2026-07-08).

GeoRank.org/economy/italy/poland | CC BY

In 2025, Italy's government spending was $1.3T, accounting for 51.1% of its GDP, while Poland spent $517B, or 50% of GDP.

Debt-to-GDP ratio is 137.1% in Italy and 58.8% in Poland, ranking 9/185 and 81/185, respectively.

Government deficit by year

Deficit/surplus
Italy

Poland
1x
Year Deficit/surplus, % of GDP
Italy Poland
2025 -3.11% -7.01%
2024 -3.35% -6.48%
2023 -7.13% -5.2%
2022 -8.1% -3.37%
2021 -8.88% -1.68%
2020 -9.38% -6.85%
2019 -1.45% -0.73%
2018 -2.19% -0.24%
2017 -2.51% -1.49%
2016 -2.4% -2.38%
2015 -2.46% -2.59%
2014 -2.82% -3.66%
2013 -2.87% -4.25%
2012 -2.99% -3.8%
2011 -3.52% -4.97%
2010 -4.16% -7.43%
2009 -5.06% -7.24%
2008 -2.58% -3.6%
2007 -1.33% -1.88%
2006 -3.61% -3.53%
2005 -4.1% -3.93%
2004 -3.46% -5%
2003 -3.23% -6%
2002 -2.88% -4.79%
2001 -3.18% -4.71%
2000 -2.42% -3.98%
1999 -1.77% -2.29%
1998 -2.99% -4.24%
1997 -2.98% -4.59%
1996 -6.61% -4.82%
1995 -7.2% -4.38%
1994 -8.84% -
1993 -9.76% -
1992 -10.1% -
1991 -11.1% -
1990 -11.1% -
1989 -11.4% -
1988 -11% -
1987 -11.5% -
1986 -12% -
1985 -12.4% -
1984 -11.5% -
1983 -10.1% -
1982 -10% -
1981 -10.9% -
1980 -6.97% -
1979 -8.23% -
1978 -8.47% -
1977 -6.96% -
1976 -7.88% -
1975 -10.3% -
1974 -6.24% -
1973 -6.36% -
1972 -6.84% -
1971 -4.71% -
1970 -3.22% -
1969 -2.85% -
1968 -2.55% -
1967 -0.97% -
1966 -1.59% -
1965 -2.67% -
1964 -2.35% -
1963 -0.3% -
1962 -0.95% -
1961 -0.57% -
1960 -0.28% -
1959 -1% -
1958 -0.98% -
1957 -1.09% -
1956 -1.46% -
1955 -2.03% -
1954 -1.84% -
1953 -2.33% -
1952 -4.08% -
1951 -3.86% -
1950 -2.42% -
1949 -2.82% -
1948 -4.58% -
1947 -6.62% -
1946 -9.82% -
1945 -16.9% -
1944 -35.1% -
1943 -16.1% -
1942 -26.9% -
1941 -25.1% -
1940 -24.3% -
1939 -9.49% -
1938 -5.97% -
1937 -5.78% -
1936 -7.93% -
1935 -9.83% -
1934 -2.5% -
1933 -4.85% -
1932 -3.06% -
1931 -2.14% -
1930 -0.55% -
1929 -0.59% -
1928 -2.09% -
1927 -1.71% -
1926 -0.09% -
1925 1.7% -
1924 1.19% -
1923 -3.21% -
1922 -11% -
1921 -7.77% -
1920 -5.89% -
1919 -11.2% -
1918 -22.7% -
1917 -27.6% -
1916 -28.2% -
1915 -25.8% -
1914 -12.4% -
1913 -0.86% -
1912 -1.86% -
1911 -0.63% -
1910 -0.32% -
1909 -0.69% -
1908 -1.31% -
1907 -0.51% -
1906 -0.69% -
1905 -1.57% -
1904 0.58% -
1903 0.32% -
1902 0.48% -
1901 0.36% -
1900 0.28% -
1899 -0.11% -
1898 -0.21% -
1897 0.009% -
1896 -0.43% -
1895 -0.69% -
1894 -0.23% -
1893 -0.49% -
1892 -0.25% -
1891 -1.41% -
1890 -0.32% -
1889 -1.32% -
1888 -2.11% -
1887 -1.94% -
1886 -0.5% -
1885 0.2% -
1884 -1.46% -
1883 -0.51% -
1882 -0.5% -
1881 -0.04% -
1880 0.38% -
1879 0.73% -
1878 0.09% -
1877 -0.009% -
1876 -0.05% -
1875 0.58% -
1874 -0.08% -
1873 0.21% -
1872 0% -
1871 -0.13% -
1870 -0.82% -
1869 0.33% -
1868 -0.79% -
1867 -1.45% -
1866 -3.1% -
1865 -2.72% -
1864 -3.06% -
1863 -4.16% -
1862 -3.96% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1862–1989, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/italy/poland | CC BY

In 2025, Italy's government deficit, the difference between spending and revenue, was $79.4B, equivalent to 3.11% of GDP. This compares to Poland's deficit of $72.6B, or 7.01% of GDP.

Over the past 31 years, Italy recorded a fiscal deficit in 31 of those years, while Poland ran a deficit in 31 years. On average, Italy posted an annual deficit equal to 3.89% of GDP, compared to deficit of 4.1% of GDP for Poland.

Inflation comparison by year

Inflation
Italy

Poland
1x
Year Consumer prices inflation
Italy Poland
2025 1.53% 3.81%
2024 0.98% 3.79%
2023 5.62% 11.5%
2022 8.2% 14.4%
2021 1.87% 5.06%
2020 -0.14% 3.37%
2019 0.61% 2.23%
2018 1.14% 1.81%
2017 1.23% 2.08%
2016 -0.09% -0.66%
2015 0.04% -0.87%
2014 0.24% 0.05%
2013 1.22% 0.99%
2012 3.04% 3.56%
2011 2.78% 4.24%
2010 1.53% 2.58%
2009 0.77% 3.8%
2008 3.35% 4.16%
2007 1.83% 2.46%
2006 2.09% 1.28%
2005 1.99% 2.18%
2004 2.21% 3.38%
2003 2.67% 0.68%
2002 2.47% 1.91%
2001 2.79% 5.41%
2000 2.54% 9.9%
1999 1.66% 7.15%
1998 1.96% 11.6%
1997 2.04% 14.9%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/italy/poland | CC BY

Over the past 29 years, Italy has recorded an average annual inflation rate of 2.01%, compared with 4.37% in Poland. In 2025, inflation was 1.53% in Italy and 3.81% in Poland.

Top exports between countries

Italy
Export category Export value
Machinery & equipment $8.94B
Chemicals & pharma $4.01B
Textiles & consumer goods $3.1B
Metals $2.92B
Transport & tourism services $1.94B
Processed food, beverages & tobacco $1.59B
Raw agricultural goods $707M
Business & finance services $673M
Raw materials & minerals $658M
Manufacturing & construction services $646M
Poland
Export category Export value
Machinery & equipment $8.16B
Textiles & consumer goods $2.14B
Chemicals & pharma $2.14B
Metals $1.54B
Animal & marine products $1.5B
Processed food, beverages & tobacco $1.48B
Transport & tourism services $1.31B
Business & finance services $779M
Wood & paper products $752M
Raw materials & minerals $517M

Balance of trade

Italy Poland
Current account balance
$29.3B
2025
-$9.05B
2025
Current account balance ranking
19/190
2025
172/190
2025
Current account balance, % of GDP
+1.15%
2025
-0.87%
2025
Goods imports
$597B
2025
$406B
2025
Goods exports
$655B
2025
$390B
2025
Service imports
$177B
2025
$86.5B
2025
Service exports
$168B
2025
$131B
2025
Imports of goods and services, % of GDP
30.3%
2025
47.1%
2025
Exports of goods and services, % of GDP
32.2%
2025
50%
2025

Economic freedom indices

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

Italy Poland
Economic freedom 63.3 68.5
Economic freedom ranking 80/197 46/197
Property rights 84.8 71.8
Government integrity 60.8 60.7
Judicial effectiveness 80.9 62.5
Tax burden 57.5 72.7
Government spending 15.3 35.1
Fiscal health 17.2 74.8
Business freedom 74.5 77.5
Labor freedom 70.6 53.7
Monetary freedom 79.1 73.8
Trade freedom 79.4 79.4
Investment freedom 80 80
Financial freedom 60 80

Economic freedom comparison by year

Italy
Poland
1x
Year Economic freedom index
Italy Poland
2026 63.3 68.5
2025 60.9 67.1
2024 60.1 66
2023 62.3 67.7
2022 65.4 68.7
2021 64.9 69.7
2020 63.8 69.1
2019 62.2 67.8
2018 62.5 68.5
2017 62.5 68.3
2016 61.2 69.3
2015 61.7 68.6
2014 60.9 67
2013 60.6 66
2012 58.8 64.2
2011 60.3 64.1
2010 62.7 63.2
2009 61.4 60.3
2008 62.6 60.3
2007 62.8 58.1
2006 62 59.3
2005 64.9 59.6
2004 64.2 58.7
2003 64.3 61.8
2002 63.6 65
2001 63 61.8
2000 61.9 60
1999 61.6 59.6
1998 59.1 59.2
1997 58.1 56.8
1996 60.8 57.8
1995 61.2 50.7

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

GeoRank.org/economy/italy/poland | CC BY

The Economic Freedom Index for Italy is 63.3, ranking 80/197, compared to 68.5 for Poland, ranking 46/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Italy Poland
Services, % of GDP
64.5%
2025
59.7%
2025
Industry, % of GDP
22.6%
2025
25.8%
2025
Agriculture, forestry, and fishing, % of GDP
2.07%
2025
2.45%
2025
GNI, Atlas method
$2.48T
2025
$930B
2025
GNI per capita, PPP
$62,870
2025
$52,290
2025
Total reserves including gold
$434B
2025
$272B
2025
Total reserves ranking
10/177
2025
16/177
2025
Net foreign direct investment
$22B
2025
-$11.7B
2025
Net inflows of foreign direct investment
$28.5B
2024
$20.6B
2024
Net outflows of foreign direct investment
$45.9B
2024
$10B
2024
Poverty at national poverty lines
20.1%
2021
13.3%
2024
Gross capital formation, % of GDP
22.2%
2025
17.9%
2025

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).

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1862–1994, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, 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.