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Economy of Japan vs Saint Lucia compared: GDP & Debt

Updated on by Georank

Japan has a GDP of $4.44T compared to $2.66B for Saint Lucia, ranking 4/197 and 173/197 by economy size, respectively.

Japan has $9.16T in government debt (206.5% of GDP), compared to $2.05B (77.1% of GDP) in Saint Lucia.

Japan vs Saint Lucia GDP by year

Japan
Saint Lucia
1x
Year GDP, current $
Japan Saint Lucia
2025 $4,435,162,999,977 $2,656,444,444
2024 $4,190,008,188,359 $2,605,148,148
2023 $4,384,854,269,962 $2,441,259,259
2022 $4,447,976,207,315 $2,319,888,889
2021 $5,225,933,520,753 $1,871,111,111
2020 $5,189,197,543,645 $1,521,740,741
2019 $5,245,755,000,479 $2,090,074,074
2018 $5,154,293,721,630 $2,060,955,556
2017 $5,038,231,631,661 $1,998,503,704
2016 $5,110,357,383,254 $1,868,544,444
2015 $4,534,438,580,495 $1,807,640,741
2014 $4,985,763,289,561 $1,749,185,185
2013 $5,272,297,037,397 $1,660,392,593
2012 $6,333,803,928,788 $1,598,207,407
2011 $6,279,422,550,219 $1,568,370,370
2010 $5,811,578,109,447 $1,482,385,185
2009 $5,336,765,697,589 $1,401,507,889
2008 $5,160,197,175,876 $1,437,731,111
2007 $4,624,670,179,655 $1,336,088,815
2006 $4,648,058,930,707 $1,268,319,185
2005 $4,875,648,486,366 $1,135,555,556
2004 $4,941,485,123,807 $1,066,666,667
2003 $4,573,413,206,709 $987,407,407
2002 $4,245,946,980,572 $900,000,000
2001 $4,438,792,748,062 $892,592,593
2000 $5,042,381,838,343 $932,592,593
1999 $4,688,983,449,627 $921,851,852
1998 $4,150,359,076,370 $877,407,407
1997 $4,579,780,793,432 $805,925,926
1996 $5,021,441,618,840 $788,888,889
1995 $5,639,649,753,986 $762,962,963
1994 $5,104,063,486,348 $713,703,704
1993 $4,632,480,515,091 $684,814,815
1992 $4,064,529,567,505 $674,074,074
1991 $3,724,887,648,862 $613,703,704
1990 $3,252,994,239,867 $579,629,630
1989 $3,174,934,735,896 $486,666,667
1988 $3,191,546,727,316 $429,629,630
1987 $2,635,094,473,494 $375,555,556
1986 $2,164,729,071,349 $340,000,000
1985 $1,457,070,301,468 $284,444,444
1984 $1,374,165,212,365 $251,481,481
1983 $1,297,622,008,229 $197,037,037
1982 $1,183,132,285,328 $183,333,333
1981 $1,271,443,597,067 $194,444,444
1980 $1,153,159,955,513 $170,370,370
1979 $1,100,608,979,757 -
1978 $1,057,419,758,047 -
1977 $752,590,681,822 -
1976 $611,495,350,304 -
1975 $544,082,569,364 -
1974 $500,355,087,138 -
1973 $450,756,970,744 -
1972 $331,776,379,992 -
1971 $250,530,994,765 -
1970 $221,798,003,144 -
1969 $188,179,852,753 -
1968 $160,201,483,788 -
1967 $135,265,319,098 -
1966 $115,427,351,851 -
1965 $99,387,878,008 -
1964 $89,332,989,729 -
1963 $75,945,582,324 -
1962 $66,356,388,224 -
1961 $58,472,696,006 -
1960 $48,417,804,545 -

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

GeoRank.org/economy/japan/saint-lucia | CC BY

GDP per capita in Japan vs Saint Lucia by year

Japan
GDP per capita

GDP per capita, PPP
Saint Lucia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Japan Saint Lucia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $35,951 - $14,746 -
2024 $33,797 $52,039 $14,494 $27,567
2023 $35,215 $50,662 $13,617 $25,975
2022 $35,548 $47,192 $12,976 $24,599
2021 $41,581 $44,355 $10,481 $19,101
2020 $41,099 $42,426 $8,537 $14,912
2019 $41,425 $42,678 $11,764 $18,710
2018 $40,645 $42,142 $11,643 $17,433
2017 $39,680 $41,444 $11,333 $16,131
2016 $40,215 $40,597 $10,638 $15,307
2015 $35,665 $40,899 $10,335 $14,353
2014 $39,173 $39,555 $10,045 $14,403
2013 $41,369 $39,402 $9,577 $14,010
2012 $49,627 $37,606 $9,260 $13,443
2011 $49,122 $36,214 $9,129 $13,471
2010 $45,378 $35,336 $8,674 $12,718
2009 $41,678 $33,543 $8,251 $12,600
2008 $40,294 $35,274 $8,517 $12,969
2007 $36,130 $35,015 $7,964 $12,199
2006 $36,354 $33,632 $7,611 $11,758
2005 $38,159 $32,170 $6,863 $10,818
2004 $38,678 $30,832 $6,495 $10,610
2003 $35,809 $29,392 $6,059 $9,707
2002 $33,316 $28,624 $5,568 $9,205
2001 $34,910 $27,943 $5,570 $9,106
2000 $39,753 $27,288 $5,880 $9,314
1999 $37,029 $25,736 $5,883 $9,214
1998 $32,835 $25,508 $5,673 $8,965
1997 $36,331 $25,619 $5,282 $8,456
1996 $39,930 $24,999 $5,244 $8,490
1995 $44,947 $23,858 $5,148 $8,222
1994 $40,774 $22,823 $4,892 $8,041
1993 $37,111 $22,168 $4,765 $7,865
1992 $32,667 $21,825 $4,760 $7,753
1991 $30,048 $21,227 $4,399 $7,127
1990 $26,345 $19,912 $4,205 $6,951
1989 $25,798 - $3,565 -
1988 $26,037 - $3,182 -
1987 $21,587 - $2,819 -
1986 $17,819 - $2,591 -
1985 $12,058 - $2,202 -
1984 $11,443 - $1,979 -
1983 $10,876 - $1,576 -
1982 $9,986 - $1,489 -
1981 $10,806 - $1,605 -
1980 $9,872 - $1,428 -
1979 $9,497 - - -
1978 $9,202 - - -
1977 $6,609 - - -
1976 $5,422 - - -
1975 $4,876 - - -
1974 $4,542 - - -
1973 $4,147 - - -
1972 $3,095 - - -
1971 $2,370 - - -
1970 $2,145 - - -
1969 $1,841 - - -
1968 $1,586 - - -
1967 $1,354 - - -
1966 $1,168 - - -
1965 $1,015 - - -
1964 $922 - - -
1963 $792 - - -
1962 $699 - - -
1961 $622 - - -
1960 $519 - - -

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

GeoRank.org/economy/japan/saint-lucia | CC BY

Japan's GDP per capita is $35,951, ranking 34/197, compared to $14,746 in Saint Lucia, ranking 72/197. Adjusted for purchasing power (GDP per capita PPP), Japan ranks 41st at $52,039, while Saint Lucia ranks 75th at $27,567.

Economic indicators

Japan Saint Lucia
Gross domestic product
$4.44T
2025
$2.66B
2025
GDP rank
4/197
2025
173/197
2025
GDP growth
1.19%
2024-2025
-0.57%
2024-2025
GDP per capita
$35,951
2025
$14,746
2025
GDP per capita rank
34/197
2025
72/197
2025
GDP per capita, PPP
$52,039
2024
$27,567
2024
GDP per capita PPP rank
41/197
2024
75/197
2024
Government debt
$9.16T
2025
$2.05B
2025
Debt-to-GDP ratio
206.5%
2025
77.1%
2025
Government debt per person
$74,248
2025
$11,365
2025
Government debt per person rank
3/185
2025
53/185
2025
Average annual personal income after taxes
$22,962
2026
$12,464
2026
Market capitalization of domestic companies
$7.61T
2025
n/a
Number of millionaires
2,902,000
2026
n/a
Number of billionaires
41
2026
n/a
Income share by richest 10%
24.3%
2020
34.1%
2015
Income share by poorest 10%
2.3%
2020
2.1%
2015
Government expenditure, % of GDP
36.9%
2025
25.2%
2025
Consumer prices inflation
3.17%
2024-2025
2.03%
2024-2025
Central bank interest rate
0.75%
2025
n/a
Unemployment rate
2.5%
2025
7.66%
2025
Population
122704252
180676

Spending and national debt comparison by year

Japan
Spending

Debt
Saint Lucia
Spending

Debt
1x
Year % of GDP
Japan Saint Lucia
Government spending Government debt Government spending Government debt
2025 36.9% 206.5% 25.2% 77.1%
2024 37.3% 214.5% 24.4% 76.7%
2023 37.8% 220.3% 25.3% 75.2%
2022 40.2% 227.8% 23.8% 73.9%
2021 41.3% 222.7% 26.7% 81.9%
2020 43.6% 228.8% 33.1% 94.4%
2019 36.4% 206.3% 24.6% 62.1%
2018 36% 203.7% 23.2% 60.3%
2017 35.9% 203.1% 23% 59.9%
2016 36.5% 202.1% 22.6% 60.2%
2015 36.6% 200.1% 22.1% 60.6%
2014 37.8% 203.6% 22.6% 61.9%
2013 38.4% 201.2% 24.3% 61.2%
2012 38.4% 197.1% 27.1% 60.2%
2011 38.4% 190.6% 26.9% 54.9%
2010 37.4% 178.6% 25.6% 52.2%
2009 38.3% 172.9% 24.2% 50.2%
2008 33.7% 153.6% 22.3% 46.9%
2007 32.8% 150.4% 22.2% 48.2%
2006 32.7% 152.1% 24.4% 48%
2005 33.2% 153.4% 25.3% 50.4%
2004 33.3% 148.8% 22.5% 48.8%
2003 34.6% 140.2% 22.5% 44.7%
2002 34.9% 134.6% 23% 47.7%
2001 34.7% 126.8% 22% 38%
2000 35.4% 118.5% 20.9% 32.8%
1999 35.2% 113.5% 20.9% 28.8%
1998 38.1% 101.6% 18.6% 29.1%
1997 32.4% 91.3% 19% 26.6%
1996 33.1% 85.3% 18.8% 23.9%
1995 32.8% 80.7% 19% 22.7%
1994 32.1% 73.3% 18.7% 23.4%
1993 31.4% 63.2% 21.6% 22.7%
1992 29.6% 57.9% 18.3% 22.1%
1991 28.6% 54.1% 18% 19.3%
1990 28.8% 54.8% 16.5% 16.7%
1989 29.2% 65.7% 19% 18.1%
1988 29.9% 71.9% 18.2% 18.6%
1987 30.6% 75.8% 19.9% 19.6%
1986 30.4% 74.1% 21.1% 17.2%
1985 30.4% 68.3% 20.4% 17.1%
1984 31.2% 65.6% - -
1983 31.8% 63.5% - -
1982 31.7% 57.7% - -
1981 31.5% 52.8% - -
1980 33.5% 47.8% - -
1979 33.2% 43.8% - -
1978 32.1% 39% - -
1977 30.4% 31.1% - -
1976 29.1% 26.1% - -
1975 28.5% 20.9% - -
1974 25.5% 16.7% - -
1973 23.3% 15.9% - -
1972 23.1% 16.3% - -
1971 21.8% 12.6% - -
1970 20.2% 11.2% - -
1969 19.8% 11.4% - -
1968 20.1% 11.8% - -
1967 19.9% 11.4% - -
1966 20.8% 11.2% - -
1965 20.4% 9.78% - -
1964 19.8% 8.53% - -
1963 20% 8.66% - -
1962 19.4% 9.01% - -
1961 18.2% 8.44% - -
1960 18.4% 10.4% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1989, retrieved 2026-07-08).

GeoRank.org/economy/japan/saint-lucia | CC BY

In 2025, Japan's government spending was $1.63T, accounting for 36.9% of its GDP, while Saint Lucia spent $671M, or 25.2% of GDP.

Debt-to-GDP ratio is 206.5% in Japan and 77.1% in Saint Lucia, ranking 3/185 and 48/185, respectively.

Government deficit by year

Deficit/surplus
Japan

Saint Lucia
1x
Year Deficit/surplus, % of GDP
Japan Saint Lucia
2025 -1.05% -2.88%
2024 -1.67% -1.81%
2023 -2.39% -3.18%
2022 -4.23% -2.48%
2021 -6.32% -5.35%
2020 -9.04% -11.5%
2019 -3.05% -2.95%
2018 -2.44% -1.22%
2017 -3.05% -2.09%
2016 -3.58% -1.53%
2015 -3.64% -1.18%
2014 -5.58% -2.29%
2013 -7.62% -3.98%
2012 -8.22% -6.93%
2011 -9.02% -5.35%
2010 -9.05% -4.11%
2009 -9.62% -2.63%
2008 -4.07% -0.72%
2007 -2.86% -1.59%
2006 -3% -5.01%
2005 -4.39% -6%
2004 -5.26% -2.58%
2003 -7.35% -3.17%
2002 -7.22% -3.03%
2001 -6.11% -3.07%
2000 -7.17% -1.17%
1999 -6.68% 1.61%
1998 -9.91% 2.22%
1997 -3.44% -1.1%
1996 -4.75% -0.57%
1995 -4.22% -0.13%
1994 -3.7% -0.02%
1993 -2.34% -0.25%
1992 0.56% -0.66%
1991 1.64% -0.42%
1990 1.91% 0.29%
1989 1.23% 0.89%
1988 0.49% 2.02%
1987 -0.36% 0.56%
1986 -1.36% -1.61%
1985 -1.37% -1.5%
1984 -2.62% -
1983 -3.95% -
1982 -3.81% -
1981 -3.85% -
1980 -4.66% -
1979 -5% -
1978 -5.79% -
1977 -4.02% -
1976 -3.89% -
1975 -2.92% -
1974 0.38% -
1973 0.56% -
1972 -0.13% -
1971 1.21% -
1970 1.74% -
1969 1.26% -
1968 0.88% -
1967 0.8% -
1966 -0.34% -
1965 0.48% -
1964 0.85% -
1963 1.08% -
1962 1.49% -
1961 2.58% -
1960 1.85% -
1959 0.97% -
1958 -0.1% -
1957 1.27% -
1956 1.39% -
1955 -0.67% -
1954 0.7% -
1953 1.65% -
1952 2.22% -
1951 5.06% -
1950 6.99% -
1949 12.5% -
1948 7.53% -
1947 6.09% -
1946 - -
1945 - -
1944 - -
1943 0.32% -
1942 -0.13% -
1941 -0.19% -
1940 0.31% -
1939 0.11% -
1938 0.45% -
1937 0.71% -
1936 0.34% -
1935 0.26% -
1934 0.34% -
1933 0.28% -
1932 0.31% -
1931 0.23% -
1930 0.19% -
1929 0.5% -
1928 0.42% -
1927 0.58% -
1926 0.65% -
1925 0.75% -
1924 0.84% -
1923 0.87% -
1922 0.89% -
1921 1.43% -
1920 1.19% -
1919 1.21% -
1918 1.58% -
1917 1.54% -
1916 1.37% -
1915 1.41% -
1914 1.31% -
1913 1.21% -
1912 1.27% -
1911 1.21% -
1910 1.57% -
1909 1.51% -
1908 1.63% -
1907 1.77% -
1906 0.46% -
1905 -0.68% -
1904 -0.81% -
1903 0.19% -
1902 0.44% -
1901 0.21% -
1900 0.53% -
1899 0.2% -
1898 0.6% -
1897 0.33% -
1896 0.88% -
1895 0.28% -
1894 -0.24% -
1893 0.6% -
1892 0.63% -
1891 0.61% -
1890 0.74% -
1889 0.18% -
1888 0.13% -
1887 0.11% -
1886 0.03% -
1885 0.01% -
1884 0.001% -
1883 0.03% -
1882 0.001% -
1881 0.001% -
1880 0.004% -
1879 0.02% -
1878 0.02% -
1877 -0.29% -
1876 -0.42% -
1875 0.005% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1875–1989, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/japan/saint-lucia | CC BY

In 2025, Japan's government deficit, the difference between spending and revenue, was $46.7B, equivalent to 1.05% of GDP. This compares to Saint Lucia's deficit of $76.5M, or 2.88% of GDP.

Over the past 41 years, Japan recorded a fiscal deficit in 36 of those years, while Saint Lucia ran a deficit in 35 years. On average, Japan posted an annual deficit equal to 4.13% of GDP, compared to deficit of 2.11% of GDP for Saint Lucia.

Inflation comparison by year

Inflation
Japan

Saint Lucia
1x
Year Consumer prices inflation
Japan Saint Lucia
2025 3.17% 2.03%
2024 2.74% -0.67%
2023 3.27% 3.82%
2022 2.5% 9.65%
2021 -0.23% 2.41%
2020 -0.02% -1.76%
2019 0.47% 0.54%
2018 0.99% 1.94%
2017 0.48% 0.1%
2016 -0.13% -3.08%
2015 0.8% -0.98%
2014 2.76% 3.52%
2013 0.34% 1.47%
2012 -0.04% 4.18%
2011 -0.27% 2.77%
2010 -0.73% 3.25%
2009 -1.35% -0.16%
2008 1.38% 5.55%
2007 0.06% 2.82%
2006 0.25% 2.4%
2005 -0.28% 3.9%
2004 -0.009% 1.46%
2003 -0.26% 1.03%
2002 -0.92% -0.26%
2001 -0.74% 5.31%
2000 -0.68% 3.71%
1999 -0.34% 3.5%
1998 0.66% 3.2%
1997 1.75% -0.006%

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

GeoRank.org/economy/japan/saint-lucia | CC BY

Over the past 29 years, Japan has recorded an average annual inflation rate of 0.54%, compared with 2.13% in Saint Lucia. In 2025, inflation was 3.17% in Japan and 2.03% in Saint Lucia.

Top exports between countries

Japan
Export category Export value
Machinery & equipment $24.6M
Miscellaneous $1.43M
Chemicals & pharma $49K
Raw materials & minerals $18K
Textiles & consumer goods $17K
Metals $8K
Precious metals & jewellery $6K
Wood & paper products $6K
Saint Lucia
Export category Export value

Balance of trade

Japan Saint Lucia
Current account balance
$216B
2025
-$166M
2025
Current account balance ranking
3/190
2025
89/190
2025
Current account balance, % of GDP
+4.86%
2025
-6.26%
2025
Goods imports
$729B
2025
$834M
2025
Goods exports
$725B
2025
$144M
2025
Service imports
$269B
2025
$672M
2025
Service exports
$246B
2025
$1.4B
2025
Imports of goods and services, % of GDP
22.9%
2024
n/a
Exports of goods and services, % of GDP
22%
2024
19%
2026

Economic freedom indices

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

Japan Saint Lucia
Economic freedom 70.3 67.5
Economic freedom ranking 36/197 57/197
Property rights 94.2 64.3
Government integrity 81.1 59.7
Judicial effectiveness 97.9 77.3
Tax burden 63 77.7
Government spending 52 82.6
Fiscal health 41.7 80
Business freedom 77.8 71.9
Labor freedom 65.9 65.2
Monetary freedom 74.3 81
Trade freedom 76.2 60
Investment freedom 60 50
Financial freedom 60 40

Economic freedom comparison by year

Japan
Saint Lucia
1x
Year Economic freedom index
Japan Saint Lucia
2026 70.3 67.5
2025 70.2 67
2024 67.5 62.2
2023 69.3 60.7
2022 69.9 64.3
2021 74.1 67.5
2020 73.3 68.2
2019 72.1 68.7
2018 72.3 67.6
2017 69.6 65
2016 73.1 70
2015 73.3 70.2
2014 72.4 70.7
2013 71.8 70.4
2012 71.6 71.3
2011 72.8 70.8
2010 72.9 70.5
2009 72.8 68.8
2008 73 -
2007 72.7 -
2006 73.3 -
2005 67.3 -
2004 64.3 -
2003 67.6 -
2002 66.7 -
2001 70.9 -
2000 70.7 -
1999 69.1 -
1998 70.2 -
1997 70.3 -
1996 72.6 -
1995 75 -

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

GeoRank.org/economy/japan/saint-lucia | CC BY

The Economic Freedom Index for Japan is 70.3, ranking 36/197, compared to 67.5 for Saint Lucia, ranking 57/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Japan Saint Lucia
Services, % of GDP
71.4%
2024
73.8%
2025
Industry, % of GDP
26.8%
2024
10.7%
2025
Agriculture, forestry, and fishing, % of GDP
0.96%
2024
1.66%
2025
GNI, Atlas method
$4.73T
2025
$2.42B
2025
GNI per capita, PPP
$58,920
2025
$26,180
2025
Total reserves including gold
$1.37T
2025
$447M
2025
Total reserves ranking
3/177
2025
160/177
2025
Net foreign direct investment
$172B
2025
-$175M
2025
Net inflows of foreign direct investment
$18.9B
2024
$187M
2024
Net outflows of foreign direct investment
$207B
2024
-$350K
2024
Servicing debt to the IMF, % of GNI n/a
3.35%
2024
Poverty at national poverty lines
16.1%
2020
25%
2016
Gross capital formation, % of GDP
27.7%
2024
n/a

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).

GeoRank.org/economy/japan/saint-lucia | CC BY

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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 (1875–1989, 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)
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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.