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Economy of Japan vs Saint Vincent compared: GDP & Debt

Updated on by Georank team

Japan has a GDP of $4.03T compared to $1.16B for Saint Vincent, ranking 4/197 and 186/197 by economy size, respectively.

Japan has $9.51T in government debt (236.1% of GDP), compared to $1.07B (92.7% of GDP) in Saint Vincent.

Japan vs Saint Vincent GDP by year

Japan
Saint Vincent
1x
Year GDP, current $
Japan Saint Vincent
2024 $4,027,597,523,551 $1,157,207,407
2023 $4,213,167,237,906 $1,072,237,037
2022 $4,262,463,317,797 $989,188,889
2021 $5,039,148,168,861 $888,677,778
2020 $5,054,068,005,376 $864,566,667
2019 $5,117,993,853,017 $910,481,481
2018 $5,040,880,939,325 $884,329,630
2017 $4,930,837,369,151 $844,040,741
2016 $5,003,677,627,544 $814,303,704
2015 $4,444,930,651,964 $786,555,556
2014 $4,896,994,405,353 $770,900,000
2013 $5,212,328,181,166 $764,781,259
2012 $6,272,362,996,105 $730,032,593
2011 $6,233,147,172,341 $713,796,370
2010 $5,759,071,769,013 $720,447,889
2009 $5,289,493,117,994 $714,300,259
2008 $5,106,679,115,127 $732,663,259
2007 $4,579,750,920,355 $713,596,667
2006 $4,601,663,122,650 $643,501,148
2005 $4,831,467,035,390 $579,948,926
2004 $4,893,116,005,657 $549,900,185
2003 $4,519,561,645,254 $509,090,889
2002 $4,182,846,045,874 $487,763,852
2001 $4,374,711,694,091 $462,072,333
2000 $4,968,359,075,957 $427,946,037
1999 $4,635,982,224,064 $390,718,519
1998 $4,098,362,709,531 $373,618,519
1997 $4,492,448,605,639 $347,770,370
1996 $4,923,391,533,852 $331,488,889
1995 $5,545,563,663,890 $316,007,407
1994 $4,998,797,547,741 $289,437,037
1993 $4,536,940,479,038 $286,307,407
1992 $3,980,702,922,118 $277,955,556
1991 $3,648,065,760,649 $254,829,630
1990 $3,185,904,656,664 $240,366,667
1989 $3,109,455,047,824 $214,745,002
1988 $3,125,724,434,401 $200,726,713
1987 $2,580,748,422,781 $175,580,647
1986 $2,120,083,812,110 $160,846,657
1985 $1,427,019,759,717 $145,641,705
1984 $1,345,824,500,837 $135,024,988
1983 $1,270,859,919,743 $122,255,350
1982 $1,158,731,426,906 $113,759,203
1981 $1,245,221,410,764 $102,086,539
1980 $1,129,377,244,854 $82,340,340
1979 $1,077,910,077,676 $71,096,360
1978 $1,035,611,588,217 $60,844,771
1977 $737,069,290,928 $49,353,162
1976 $598,883,902,156 $32,792,845
1975 $532,861,438,885 $33,237,226
1974 $490,035,789,970 $32,923,703
1973 $441,460,582,536 $30,165,081
1972 $324,933,841,269 $27,585,805
1971 $245,364,056,622 $20,051,922
1970 $217,223,652,719 $18,450,000
1969 $184,298,841,305 $16,650,000
1968 $156,897,496,759 $15,350,000
1967 $132,475,614,227 $15,835,106
1966 $113,046,784,179 $16,099,960
1965 $97,338,107,606 $15,108,296
1964 $87,490,590,818 $14,758,296
1963 $74,379,284,603 $13,708,299
1962 $64,987,857,542 $14,524,964
1961 $57,266,758,180 $13,999,965
1960 $47,419,238,274 $13,066,634

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

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

GDP per capita in Japan vs Saint Vincent by year

Japan
GDP per capita

GDP per capita, PPP
Saint Vincent
GDP per capita

GDP per capita, PPP
1x
Year Current $
Japan Saint Vincent
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $32,487 $52,039 $11,501 $21,272
2023 $33,836 $50,662 $10,582 $19,820
2022 $34,066 $47,192 $9,694 $18,035
2021 $40,095 $44,355 $8,641 $16,201
2020 $40,029 $42,426 $8,351 $15,337
2019 $40,416 $42,678 $8,741 $15,340
2018 $39,751 $42,142 $8,428 $14,690
2017 $38,834 $41,444 $7,988 $13,575
2016 $39,375 $40,597 $7,657 $13,493
2015 $34,961 $40,899 $7,354 $12,379
2014 $38,475 $39,555 $7,169 $12,136
2013 $40,899 $39,402 $7,072 $11,625
2012 $49,145 $37,606 $6,714 $10,989
2011 $48,760 $36,214 $6,528 $10,774
2010 $44,968 $35,336 $6,552 $10,561
2009 $41,309 $33,543 $6,464 $10,869
2008 $39,876 $35,274 $6,599 $10,902
2007 $35,779 $35,015 $6,398 $10,604
2006 $35,992 $33,632 $5,745 $9,949
2005 $37,813 $32,170 $5,157 $8,986
2004 $38,299 $30,832 $4,873 $8,472
2003 $35,387 $29,392 $4,500 $7,903
2002 $32,821 $28,624 $4,303 $7,250
2001 $34,406 $27,943 $4,071 $6,768
2000 $39,169 $27,288 $3,769 $6,503
1999 $36,610 $25,736 $3,447 $6,266
1998 $32,424 $25,508 $3,301 $6,026
1997 $35,638 $25,619 $3,074 $5,726
1996 $39,150 $24,999 $2,930 $5,440
1995 $44,198 $23,858 $2,795 $5,277
1994 $39,934 $22,823 $2,563 $4,802
1993 $36,345 $22,168 $2,540 $4,769
1992 $31,993 $21,825 $2,471 $4,477
1991 $29,428 $21,227 $2,271 $4,126
1990 $25,801 $19,912 $2,150 $3,960
1989 $25,266 - $1,930 -
1988 $25,500 - $1,814 -
1987 $21,142 - $1,596 -
1986 $17,452 - $1,472 -
1985 $11,809 - $1,342 -
1984 $11,207 - $1,254 -
1983 $10,652 - $1,144 -
1982 $9,780 - $1,074 -
1981 $10,583 - $972 -
1980 $9,669 - $790 -
1979 $9,301 - $687 -
1978 $9,012 - $592 -
1977 $6,473 - $484 -
1976 $5,310 - $324 -
1975 $4,776 - $331 -
1974 $4,448 - $331 -
1973 $4,061 - $306 -
1972 $3,031 - $282.1 -
1971 $2,321 - $207 -
1970 $2,101 - $192.3 -
1969 $1,803 - $175.2 -
1968 $1,553 - $163.1 -
1967 $1,326 - $170 -
1966 $1,144 - $174.9 -
1965 $994 - $166.2 -
1964 $903 - $164.4 -
1963 $776 - $154.9 -
1962 $685 - $166.5 -
1961 $609 - $163 -
1960 $509 - $154.8 -

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

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

Japan's GDP per capita is $32,487, ranking 38/197, compared to $11,501 in Saint Vincent, ranking 81/197. Adjusted for purchasing power (GDP per capita PPP), Japan ranks 41st at $52,039, while Saint Vincent ranks 92nd at $21,272.

Economic indicators

Japan Saint Vincent
Gross domestic product
$4.03T
2024
$1.16B
2024
GDP rank
4/197
2024
186/197
2024
GDP growth
0.1%
2023-2024
4.06%
2023-2024
GDP per capita
$32,487
2024
$11,501
2024
GDP per capita rank
38/197
2024
81/197
2024
GDP per capita, PPP
$52,039
2024
$21,272
2024
GDP per capita PPP rank
41/197
2024
92/197
2024
Government debt
$9.51T
2024
$1.07B
2024
Debt-to-GDP ratio
236.1%
2024
92.7%
2024
Government debt per person
$76,704
2024
$10,659
2024
Government debt per person rank
3/185
2024
56/185
2024
Average annual personal income after taxes
$23,653
2026
$12,573
2026
Market capitalization of domestic companies
$6.31T
2024
n/a
Number of millionaires
2,732,000
2025
n/a
Number of billionaires
42
2025
n/a
Income share by richest 10%
23.9%
2020
n/a
Income share by poorest 10%
2.4%
2020
n/a
Government expenditure, % of GDP
39.1%
2024
39.1%
2024
Consumer prices inflation
2.74%
2023-2024
3.63%
2023-2024
Central bank interest rate
0.75%
2025
n/a
Unemployment rate
2.54%
2024
18.8%
2008
Population
122677250
99237

Spending and national debt comparison by year

Japan
Spending

Debt
Saint Vincent
Spending

Debt
1x
Year % of GDP
Japan Saint Vincent
Government spending Government debt Government spending Government debt
2024 39.1% 236.1% 39.1% 92.7%
2023 39.2% 240.5% 38.9% 89.4%
2022 41.8% 248.2% 36.6% 86.3%
2021 42.5% 253.7% 37.2% 88.4%
2020 44.5% 258.4% 32.9% 80.2%
2019 37.3% 236.4% 29.2% 68.2%
2018 36.7% 232.4% 26.3% 69.4%
2017 36.7% 231.3% 26.6% 69%
2016 37.2% 232.4% 27.1% 79.4%
2015 37.3% 228.3% 27.6% 75.1%
2014 38.4% 233.3% 30.4% 75%
2013 38.8% 229.5% 29.4% 69.9%
2012 38.6% 226.1% 26.5% 68.1%
2011 38.6% 219.2% 29.4% 64%
2010 37.7% 205.9% 31.1% 61.1%
2009 38.7% 198.8% 31% 57.2%
2008 34.1% 180.9% 28.4% 50.3%
2007 33.1% 173% 27.1% 48.5%
2006 33.1% 174.1% 26.1% 44.7%
2005 33.5% 174.6% 26.7% 50.5%
2004 33.7% 169.5% 24.9% 58.6%
2003 35% 160% 26% 55.3%
2002 35.4% 154.1% 25.7% 53.2%
2001 35.2% 145.1% 24.4% 52%
2000 36% 135.6% 23.8% 54.3%
1999 35.6% 129.5% 25.2% 52.9%
1998 38.6% 116% 25.2% 39.5%
1997 33.1% 105% 26% 38.8%
1996 33.8% 98.1% 20.9% 40.7%
1995 33.4% 92.5% 19.9% 46.8%
1994 32.8% 84.4% 22.4% 52.8%
1993 32.1% 72.8% 22.3% 48.1%
1992 30.3% 66.8% 25.4% 49.6%
1991 29.3% 62.4% 25.5% 52.1%
1990 29.5% 63.2% 23.1% 53.9%
1989 29.2% 65.7% 27.6% -
1988 29.9% 71.9% 24.8% -
1987 30.6% 75.8% 23.7% -
1986 30.4% 74.1% 22.3% -
1985 30.4% 68.3% 21.4% -
1984 31.2% 65.6% 23.1% -
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1989, retrieved 2026-02-20).

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

In 2024, Japan's government spending was $1.57T, accounting for 39.1% of its GDP, while Saint Vincent spent $453M, or 39.1% of GDP.

Debt-to-GDP ratio is 236.1% in Japan and 92.7% in Saint Vincent, ranking 3/185 and 29/185, respectively.

Government deficit by year

Deficit/surplus
Japan

Saint Vincent
1x
Year Deficit/surplus, % of GDP
Japan Saint Vincent
2024 -1.53% -12.9%
2023 -2.26% -12%
2022 -4.21% -9.35%
2021 -6.13% -7.19%
2020 -9.08% -5.92%
2019 -3.04% -3.45%
2018 -2.47% -1.65%
2017 -3.1% -1.56%
2016 -3.6% 0.04%
2015 -3.68% -2.01%
2014 -5.62% -2.82%
2013 -7.61% -5.81%
2012 -8.2% -1.81%
2011 -8.99% -3.5%
2010 -9.08% -3.7%
2009 -9.69% -2.85%
2008 -4.11% -1.3%
2007 -2.9% -3.07%
2006 -3.03% -3.13%
2005 -4.44% -4.3%
2004 -5.31% -2.71%
2003 -7.43% -2.51%
2002 -7.34% -2%
2001 -6.2% -1.6%
2000 -7.28% -0.82%
1999 -6.75% -1.93%
1998 -10% -1.81%
1997 -3.53% -2.77%
1996 -4.87% 1.57%
1995 -4.3% 1.08%
1994 -3.76% 0.12%
1993 -2.39% -1.46%
1992 0.57% -3.25%
1991 1.67% -0.47%
1990 1.96% 1.69%
1989 1.23% -1.92%
1988 0.49% 0.59%
1987 -0.36% 1.1%
1986 -1.36% 2.32%
1985 -1.37% 4.23%
1984 -2.62% 2.5%
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 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

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

In 2024, Japan's government deficit, the difference between spending and revenue, was $61.6B, equivalent to 1.53% of GDP. This compares to Saint Vincent's deficit of $149M, or 12.9% of GDP.

Over the past 41 years, Japan recorded a fiscal deficit in 36 of those years, while Saint Vincent ran a deficit in 31 years. On average, Japan posted an annual deficit equal to 4.19% of GDP, compared to deficit of 2.35% of GDP for Saint Vincent.

Inflation comparison by year

Inflation
Japan

Saint Vincent
1x
Year Consumer prices inflation
Japan Saint Vincent
2024 2.74% 3.63%
2023 3.27% 4.56%
2022 2.5% 5.66%
2021 -0.23% 1.57%
2020 -0.02% -0.63%
2019 0.47% 0.91%
2018 0.99% 2.32%
2017 0.48% 2.15%
2016 -0.13% -0.15%
2015 0.8% -1.73%
2014 2.76% 0.19%
2013 0.34% 0.81%
2012 -0.04% 2.6%
2011 -0.27% 3.19%
2010 -0.73% 0.75%
2009 -1.35% 0.42%
2008 1.38% 10.1%
2007 0.06% 7.24%
2006 0.25% 2.74%
2005 -0.28% 3.73%
2004 -0.009% 2.96%
2003 -0.26% 0.21%
2002 -0.92% 1.86%
2001 -0.74% 0.9%
2000 -0.68% 0.17%
1999 -0.34% 1.01%
1998 0.66% 2.14%
1997 1.75% 0.44%

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

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

Over the past 28 years, Japan has recorded an average annual inflation rate of 0.44%, compared with 2.13% in Saint Vincent. In 2024, inflation was 2.74% in Japan and 3.63% in Saint Vincent.

Top exports between countries

Japan
Export category Export value
Machinery & equipment $12M
Miscellaneous $1.18M
Textiles & consumer goods $382K
Chemicals & pharma $117K
Raw materials & minerals $42K
Metals $30K
Wood & paper products $4K
Saint Vincent
Export category Export value
Machinery & equipment $36K

Balance of trade

Japan Saint Vincent
Current account balance
$194B
2024
-$157M
2024
Current account balance ranking
3/190
2024
93/190
2024
Current account balance, % of GDP
+4.82%
2024
-13.5%
2024
Goods imports
$719B
2024
$445M
2024
Goods exports
$694B
2024
$59.2M
2024
Service imports
$246B
2024
$196M
2024
Service exports
$228B
2024
$366M
2024
Imports of goods and services, % of GDP
23.6%
2024
n/a
Exports of goods and services, % of GDP
22.8%
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.

Japan Saint Vincent
Economic freedom 70.3 60
Economic freedom ranking 36/197 98/197
Property rights 94.2 65.2
Government integrity 81.1 63.3
Judicial effectiveness 97.9 76.9
Tax burden 63 82
Government spending 52 56.2
Fiscal health 41.7 2.8
Business freedom 77.8 67.3
Labor freedom 65.9 60.1
Monetary freedom 74.3 77.3
Trade freedom 76.2 58.8
Investment freedom 60 70
Financial freedom 60 40

Economic freedom comparison by year

Japan
Saint Vincent
1x
Year Economic freedom index
Japan Saint Vincent
2026 70.3 60
2025 70.2 60.1
2024 67.5 59.8
2023 69.3 63.5
2022 69.9 65.7
2021 74.1 66.3
2020 73.3 66.8
2019 72.1 65.8
2018 72.3 67.7
2017 69.6 65.2
2016 73.1 68.8
2015 73.3 68
2014 72.4 67
2013 71.8 66.7
2012 71.6 66.5
2011 72.8 66.9
2010 72.9 66.9
2009 72.8 64.3
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 2026-03-09).

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

The Economic Freedom Index for Japan is 70.3, ranking 36/197, 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

Japan Saint Vincent
Services, % of GDP
69.8%
2023
66.4%
2024
Industry, % of GDP
28.6%
2023
15.4%
2024
Agriculture, forestry, and fishing, % of GDP
0.94%
2023
3.55%
2024
GNI, Atlas method
$4.46T
2024
$1.11B
2024
GNI per capita, PPP
$55,490
2024
$21,150
2024
Total reserves including gold
$1.23T
2024
$317M
2024
Total reserves ranking
2/177
2024
167/177
2024
Net foreign direct investment
$191B
2024
-$74M
2024
Net inflows of foreign direct investment
$16.2B
2024
$139M
2024
Net outflows of foreign direct investment
$203B
2024
-$1.92M
2024
Servicing debt to the IMF, % of GNI n/a
3.84%
2024
Poverty at national poverty lines
16.1%
2020
n/a
Gross capital formation, % of GDP
26.2%
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/japan/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) | Public Finances in Modern History (1875–1989, 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)
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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.