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Economy of Lesotho vs Portugal compared: GDP & Debt

Updated on by Georank

Lesotho has a GDP of $2.57B compared to $347B for Portugal, ranking 175/197 and 46/197 by economy size, respectively.

Lesotho has $1.26B in government debt (49.1% of GDP), compared to $312B (89.9% of GDP) in Portugal.

Lesotho vs Portugal GDP by year

Lesotho
Portugal
1x
Year GDP, current $
Lesotho Portugal
2025 $2,573,572,920 $346,639,825,142
2024 $2,391,282,548 $313,656,884,871
2023 $2,129,871,530 $292,323,800,949
2022 $2,354,980,960 $256,898,677,175
2021 $2,412,130,057 $256,055,879,091
2020 $2,053,699,864 $229,618,773,423
2019 $2,390,702,296 $240,115,970,063
2018 $2,556,247,292 $242,092,894,543
2017 $2,306,741,672 $220,862,990,767
2016 $2,114,426,452 $206,305,431,242
2015 $2,359,686,725 $199,038,523,120
2014 $2,441,063,054 $230,078,616,300
2013 $2,367,112,932 $226,677,408,292
2012 $2,477,702,216 $216,536,676,772
2011 $2,579,409,620 $245,426,767,676
2010 $2,234,754,242 $238,443,864,993
2009 $1,740,894,965 $244,667,762,836
2008 $1,766,902,709 $263,416,394,624
2007 $1,682,131,785 $240,496,147,317
2006 $1,800,092,564 $208,756,449,276
2005 $1,682,343,527 $197,253,876,705
2004 $1,511,236,656 $189,382,122,532
2003 $1,157,825,435 $165,226,175,537
2002 $775,777,239 $134,795,565,549
2001 $825,706,961 $121,604,107,165
2000 $887,291,688 $118,605,192,877
1999 $912,773,681 $127,470,385,557
1998 $928,460,893 $123,946,327,916
1997 $998,004,259 $117,016,535,163
1996 $946,112,493 $122,630,089,680
1995 $1,001,894,000 $118,122,007,430
1994 $878,250,945 $99,688,641,304
1993 $835,582,062 $95,009,751,901
1992 $831,029,862 $107,592,098,307
1991 $704,325,367 $89,233,599,278
1990 $596,410,264 $78,713,860,217
1989 $495,409,233 $60,594,092,182
1988 $470,395,801 $56,347,250,696
1987 $402,768,324 $48,182,925,857
1986 $318,858,423 $38,745,901,354
1985 $268,629,926 $27,115,807,742
1984 $333,163,670 $25,217,969,050
1983 $386,699,309 $27,239,650,742
1982 $348,741,684 $30,527,754,793
1981 $434,188,034 $31,977,276,873
1980 $431,542,537 $32,896,519,824
1979 $290,134,593 $26,622,819,672
1978 $266,570,067 $23,487,614,051
1977 $193,315,048 $21,439,523,311
1976 $147,660,037 $20,332,831,565
1975 $149,558,896 $19,347,607,843
1974 $150,851,317 $17,512,391,476
1973 $121,188,716 $15,090,564,186
1972 $80,913,200 $11,239,117,865
1971 $76,480,285 $9,201,604,240
1970 $68,739,973 $8,108,235,704
1969 $65,967,974 $7,287,555,035
1968 $61,445,975 $6,644,693,214
1967 $59,261,976 $6,002,607,030
1966 $56,699,977 $5,370,108,031
1965 $54,879,978 $4,901,711,248
1964 $51,939,979 $4,429,202,657
1963 $47,039,981 $4,084,251,593
1962 $41,859,983 $3,835,883,663
1961 $35,699,986 $3,573,719,085
1960 $34,579,986 $3,339,150,158

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

GeoRank.org/economy/lesotho/portugal | CC BY

GDP per capita in Lesotho vs Portugal by year

Lesotho
GDP per capita

GDP per capita, PPP
Portugal
GDP per capita

GDP per capita, PPP
1x
Year Current $
Lesotho Portugal
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $1,089 - $32,082 -
2024 $1,023 $3,001 $29,328 $51,680
2023 $921 $2,881 $27,635 $49,353
2022 $1,030 $2,761 $24,621 $45,250
2021 $1,067 $2,545 $24,711 $38,658
2020 $919 $2,559 $22,299 $35,967
2019 $1,082 $2,568 $23,343 $37,866
2018 $1,171 $2,632 $23,541 $34,897
2017 $1,069 $2,619 $21,442 $32,971
2016 $992 $2,942 $19,980 $31,589
2015 $1,121 $3,035 $19,216 $29,608
2014 $1,174 $2,771 $22,121 $28,765
2013 $1,151 $2,538 $21,676 $27,966
2012 $1,218 $2,291 $20,593 $26,476
2011 $1,281 $2,279 $23,247 $26,803
2010 $1,119 $2,153 $22,552 $27,292
2009 $879 $2,036 $23,151 $26,472
2008 $898 $2,064 $24,949 $26,666
2007 $861 $1,932 $22,811 $25,738
2006 $925 $1,813 $19,839 $24,677
2005 $861 $1,681 $18,780 $22,725
2004 $767 $1,561 $18,064 $21,476
2003 $583 $1,484 $15,798 $20,850
2002 $389 $1,385 $12,937 $20,357
2001 $413 $1,350 $11,735 $19,529
2000 $443 $1,273 $11,526 $18,883
1999 $456 $1,199 $12,475 $17,718
1998 $465 $1,179 $12,199 $16,688
1997 $502 $1,154 $11,576 $15,789
1996 $480 $1,103 $12,185 $14,922
1995 $513 $1,037 $11,781 $14,406
1994 $456 $995 $9,977 $13,578
1993 $439 $932 $9,535 $13,202
1992 $444 $893 $10,811 $13,182
1991 $382 $830 $8,959 $12,739
1990 $330 $764 $7,885 $11,780
1989 $279 - $6,056 -
1988 $270.4 - $5,624 -
1987 $236.5 - $4,804 -
1986 $191.4 - $3,862 -
1985 $165.4 - $2,705 -
1984 $211 - $2,523 -
1983 $252 - $2,735 -
1982 $233.9 - $3,080 -
1981 $299.8 - $3,246 -
1980 $307 - $3,368 -
1979 $212.4 - $2,756 -
1978 $200.8 - $2,457 -
1977 $149.9 - $2,267 -
1976 $117.8 - $2,173 -
1975 $123.2 - $2,128 -
1974 $128.7 - $2,000 -
1973 $107 - $1,748 -
1972 $74 - $1,302 -
1971 $72.4 - $1,065 -
1970 $67.4 - $934 -
1969 $67.1 - $832 -
1968 $64.8 - $752 -
1967 $64.8 - $676 -
1966 $64.3 - $601 -
1965 $64.3 - $545 -
1964 $62.6 - $490 -
1963 $58.4 - $452 -
1962 $53.5 - $426 -
1961 $47 - $400 -
1960 $47 - $377 -

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

GeoRank.org/economy/lesotho/portugal | CC BY

Lesotho's GDP per capita is $1,089, ranking 179/197, compared to $32,082 in Portugal, ranking 43/197. Adjusted for purchasing power (GDP per capita PPP), Lesotho ranks 180th at $3,001, while Portugal ranks 42nd at $51,680.

Economic indicators

Lesotho Portugal
Gross domestic product
$2.57B
2025
$347B
2025
GDP rank
175/197
2025
46/197
2025
GDP growth
1.98%
2024-2025
1.86%
2024-2025
GDP per capita
$1,089
2025
$32,082
2025
GDP per capita rank
179/197
2025
43/197
2025
GDP per capita, PPP
$3,001
2024
$51,680
2024
GDP per capita PPP rank
180/197
2024
42/197
2024
Government debt
$1.26B
2025
$312B
2025
Debt-to-GDP ratio
49.1%
2025
89.9%
2025
Government debt per person
$535
2025
$28,843
2025
Government debt per person rank
165/185
2025
26/185
2025
Average annual personal income after taxes
$1,455
2026
$16,647
2026
Market capitalization of domestic companies n/a
$61.9B
2018
Number of millionaires n/a
181,000
2026
Number of billionaires n/a
1
2026
Income share by richest 10%
32.9%
2017
26.9%
2023
Income share by poorest 10%
1.7%
2017
2.7%
2023
Government expenditure, % of GDP
54.2%
2025
43.7%
2025
Consumer prices inflation
4.27%
2024-2025
2.34%
2024-2025
Central bank interest rate
6.5%
2025
n/a
Unemployment rate
18.7%
2024
6%
2025
Population
2402837
10788071

Spending and national debt comparison by year

Lesotho
Spending

Debt
Portugal
Spending

Debt
1x
Year % of GDP
Lesotho Portugal
Government spending Government debt Government spending Government debt
2025 54.2% 49.1% 43.7% 89.9%
2024 52.5% 52.8% 42.5% 93.5%
2023 49% 61.1% 41.9% 96.9%
2022 50.8% 64.4% 43.9% 111.2%
2021 53.6% 58% 47.3% 123.9%
2020 54.2% 54.7% 49.1% 134.1%
2019 52.9% 58.2% 42.5% 116.1%
2018 51.9% 48.2% 43.3% 121.1%
2017 50.4% 41% 45.5% 126%
2016 54.1% 41.5% 44.9% 131.2%
2015 51.7% 45.8% 48.2% 131%
2014 50.1% 41.5% 51.7% 132.5%
2013 58.4% 41.2% 50% 130.8%
2012 58.1% 39.8% 48.8% 128.6%
2011 60.2% 36.2% 50% 114%
2010 55.3% 33.8% 51.9% 100.1%
2009 66.4% 35.9% 50.3% 87.8%
2008 54.1% 47% 45.5% 75.6%
2007 48.1% 49.6% 44.6% 72.7%
2006 43.2% 43.7% 45.2% 73.7%
2005 37.6% 41% 46.7% 72.2%
2004 36.3% 49.4% 46% 67.1%
2003 39.8% 52.6% 45.3% 63.9%
2002 41.2% 79.6% 44.2% 60%
2001 41.4% 108.7% 44.1% 57.4%
2000 39.3% 88.5% 42.8% 54.2%
1999 50.8% 83% 42.5% 55.4%
1998 51.4% 79.4% 42.6% 55.6%
1997 44.6% 65.7% 42.4% 58.7%
1996 41.5% 71.6% 43% 63.3%
1995 42.1% 62.8% 42.6% 62.2%
1994 40.2% 67% 42.8% 60.4%
1993 36% 71.2% 46.5% 57.2%
1992 35.3% 64.4% 48.2% 58.1%
1991 31.3% 11.9% 45.9% 63.9%
1990 32.9% 18% 42.2% 60.2%
1989 35.8% 112.5% 36.2% 55.4%
1988 35.3% 105.2% 36.2% 56.8%
1987 40.3% 97.4% 37.5% 57.2%
1986 33.2% 92.5% 38.9% 59.8%
1985 32.8% 86.3% 37.5% 59.4%
1984 26.8% 57.2% 34.6% 51.3%
1983 27.2% 56.7% 34.7% 46.7%
1982 29.9% 61.4% 35.8% 43%
1981 - - 35.3% 39.3%
1980 - - 32.4% 31%
1979 - - 30.8% 35.2%
1978 - - 31.7% 31.4%
1977 - - 35.1% 26.9%
1976 - - 38.2% 24.5%
1975 - - 31.9% 19.2%
1974 - - 25.8% 13.5%
1973 - - 25.7% 13.6%
1972 - - 22.8% 14.5%
1971 - - 15.5% 15.7%
1970 - - 15.5% 16.5%
1969 - - 14.9% 16.8%
1968 - - 14.3% 17.2%
1967 - - 14.1% 18.5%
1966 - - 14.4% 20.2%
1965 - - 13.4% 20.4%
1964 - - 13.9% 21.9%
1963 - - 14.6% 20.8%
1962 - - 14.5% 18.7%
1961 - - 14.6% 17.1%
1960 - - 14.3% 16.4%

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/lesotho/portugal | CC BY

In 2025, Lesotho's government spending was $1.4B, accounting for 54.2% of its GDP, while Portugal spent $152B, or 43.7% of GDP.

Debt-to-GDP ratio is 49.1% in Lesotho and 89.9% in Portugal, ranking 106/185 and 30/185, respectively.

Government deficit by year

Deficit/surplus
Lesotho

Portugal
1x
Year Deficit/surplus, % of GDP
Lesotho Portugal
2025 2.15% 0.31%
2024 8.17% 0.5%
2023 7.36% 1.26%
2022 -6.33% -0.31%
2021 -4.79% -2.83%
2020 1.45% -5.75%
2019 -5.09% 0.12%
2018 -4.41% -0.43%
2017 -2.02% -3%
2016 -9.43% -1.94%
2015 -1.38% -4.37%
2014 3.16% -7.32%
2013 -2.58% -5.21%
2012 4.56% -6.2%
2011 -9.85% -7.73%
2010 -1.49% -11.4%
2009 -4.16% -9.87%
2008 8.1% -3.81%
2007 10.8% -2.91%
2006 11.6% -4.06%
2005 4.46% -6.05%
2004 6.05% -5.91%
2003 0.89% -5.57%
2002 -2.44% -3.7%
2001 -2.76% -4.68%
2000 -0.95% -3.32%
1999 -15.3% -2.93%
1998 -11.8% -4.3%
1997 0.27% -3.65%
1996 2.11% -4.63%
1995 5.13% -5.14%
1994 5.69% -7.37%
1993 7.55% -8.06%
1992 4.65% -5.19%
1991 9.74% -7.93%
1990 8.78% -6.82%
1989 3.88% -2.86%
1988 -1.87% -3.52%
1987 -2.85% -6.79%
1986 0.87% -7.45%
1985 1.68% -8.35%
1984 4.82% -5.23%
1983 1.85% -4.86%
1982 -2.03% -7.02%
1981 - -8.34%
1980 - -6.92%
1979 - -6.08%
1978 - -7.15%
1977 - -7.5%
1976 - -10.2%
1975 - -7.1%
1974 - -3.2%
1973 - -5.39%
1972 - -7.72%
1971 - -0.23%
1970 - -0.24%
1969 - -1.53%
1968 - -1.24%
1967 - -0.46%
1966 - -2%
1965 - -0.03%
1964 - -1.93%
1963 - -3.33%
1962 - -1.69%
1961 - -3.17%
1960 - -3.13%
1959 - -1.73%
1958 - -0.52%
1957 - 0.08%
1956 - -0.18%
1955 - -0.31%
1954 - -0.58%
1953 - -0.35%
1952 - -0.34%
1951 - 0.94%
1950 - -0.83%
1949 - -0.46%
1948 - -2.04%
1947 - -1.65%
1946 - -2.32%
1945 - -2.38%
1944 - -1.44%
1943 - 0.03%
1942 - -0.35%
1941 - -0.08%
1940 - -1.74%
1939 - -0.73%
1938 - -0.08%
1937 - -0.09%
1936 - 0.08%
1935 - 0.75%
1934 - 0.6%
1933 - -0.07%
1932 - -0.03%
1931 - 0.04%
1930 - 0.79%
1929 - 1.86%
1928 - 0.2%
1927 - -2.27%
1926 - -4.21%
1925 - -1.48%
1924 - -3.16%
1923 - -3.47%
1922 - -10%
1921 - -6.5%
1920 - -5.66%
1919 - -8.83%
1918 - -8.3%
1917 - -5.49%
1916 - -
1915 - -
1914 - -
1913 - -0.34%
1912 - -0.02%
1911 - -0.73%
1910 - -0.19%
1909 - -0.82%
1908 - -0.56%
1907 - -0.69%
1906 - -0.45%
1905 - -0.75%
1904 - -0.26%
1903 - -0.91%
1902 - -0.5%
1901 - -0.69%
1900 - -0.35%
1899 - -0.77%
1898 - -0.5%
1897 - -0.93%
1896 - -1.35%
1895 - -0.2%
1894 - -0.16%
1893 - -0.02%
1892 - -0.8%
1891 - -2.15%
1890 - -2.01%
1889 - -1.95%
1888 - -2.14%
1887 - -0.67%
1886 - -1.43%
1885 - -1.68%
1884 - -1.48%
1883 - -1.1%
1882 - -0.39%
1881 - -1.2%
1880 - -1.63%

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/lesotho/portugal | CC BY

In 2025, Lesotho's government surplus, the difference between spending and revenue, was $55.4M, equivalent to 2.15% of GDP. This compares to Portugal's surplus of $1.07B, or 0.31% of GDP.

Over the past 44 years, Lesotho recorded a fiscal deficit in 19 of those years, while Portugal ran a deficit in 40 years. On average, Lesotho posted an annual surplus equal to 0.78% of GDP, compared to deficit of 4.69% of GDP for Portugal.

Inflation comparison by year

Inflation
Lesotho

Portugal
1x
Year Consumer prices inflation
Lesotho Portugal
2025 4.27% 2.34%
2024 6.11% 2.42%
2023 6.34% 4.31%
2022 8.27% 7.83%
2021 6.05% 1.27%
2020 4.98% -0.01%
2019 5.19% 0.34%
2018 4.75% 0.99%
2017 4.45% 1.37%
2016 6.6% 0.61%
2015 3.22% 0.49%
2014 5.37% -0.28%
2013 4.87% 0.27%
2012 6.05% 2.77%
2011 5.04% 3.65%
2010 -2.41% 1.4%
2009 -16.9% -0.84%
2008 10.7% 2.59%
2007 8.01% 2.45%
2006 6.07% 3.11%
2005 3.44% 2.28%
2004 5.02% 2.37%
2003 6.63% 3.22%
2002 33.8% 3.6%
2001 -9.62% 4.37%
2000 6.13% 2.85%
1999 - 2.34%
1998 - 2.57%
1997 - 2.34%

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

GeoRank.org/economy/lesotho/portugal | CC BY

Over the past 26 years, Lesotho has recorded an average annual inflation rate of 5.1%, compared with 2.14% in Portugal. In 2025, inflation was 4.27% in Lesotho and 2.34% in Portugal.

Top exports between countries

Lesotho
Export category Export value
Textiles & consumer goods $185K
Raw agricultural goods $23K
Miscellaneous $5K
Chemicals & pharma $3K
Portugal
Export category Export value
Machinery & equipment $434K
Chemicals & pharma $28K
Textiles & consumer goods $24K

Balance of trade

Lesotho Portugal
Current account balance
-$3.94M
2025
$6.51B
2024
Current account balance ranking
71/190
2025
30/190
2024
Current account balance, % of GDP
-0.15%
2025
+2.08%
2024
Goods imports
$1.69B
2025
$109B
2024
Goods exports
$933M
2025
$81.4B
2024
Service imports
$467M
2025
$27.9B
2024
Service exports
$16M
2025
$62.7B
2024
Imports of goods and services, % of GDP
104.5%
2025
42.7%
2025
Exports of goods and services, % of GDP
49.5%
2025
43.7%
2025

Economic freedom indices

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

Lesotho Portugal
Economic freedom 54.9 71.2
Economic freedom ranking 130/197 33/197
Property rights 41.7 88.9
Government integrity 39.6 63.4
Judicial effectiveness 43.6 90.1
Tax burden 76.4 60.6
Government spending 21.3 44.6
Fiscal health 93.5 82
Business freedom 50.6 83.1
Labor freedom 57 54.8
Monetary freedom 74.8 77.7
Trade freedom 65.4 79.4
Investment freedom 55 70
Financial freedom 40 60

Economic freedom comparison by year

Lesotho
Portugal
1x
Year Economic freedom index
Lesotho Portugal
2026 54.9 71.2
2025 54.1 70.5
2024 51.9 68.7
2023 51.6 69.5
2022 48.1 70.8
2021 53.5 67.5
2020 54.5 67
2019 53.1 65.3
2018 53.9 63.4
2017 53.9 62.6
2016 50.6 65.1
2015 49.6 65.3
2014 49.5 63.5
2013 47.9 63.1
2012 46.6 63
2011 47.5 64
2010 48.1 64.4
2009 49.7 64.9
2008 52.1 63.9
2007 53.2 64
2006 54.7 62.9
2005 53.9 62.4
2004 50.3 64.9
2003 52 64.9
2002 48.9 65.4
2001 50.6 66
2000 48.4 65.5
1999 48.2 65.6
1998 48.4 65
1997 47.2 63.6
1996 47 64.5
1995 - 62.4

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

GeoRank.org/economy/lesotho/portugal | CC BY

The Economic Freedom Index for Lesotho is 54.9, ranking 130/197, compared to 71.2 for Portugal, ranking 33/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Lesotho Portugal
Services, % of GDP
55.6%
2025
66.6%
2025
Industry, % of GDP
25.2%
2025
18.3%
2025
Agriculture, forestry, and fishing, % of GDP
6.49%
2025
1.96%
2025
GNI, Atlas method
$3.03B
2025
$323B
2025
GNI per capita, PPP
$3,900
2025
$52,240
2025
Total reserves including gold
$1.01B
2024
$68.8B
2025
Total reserves ranking
142/177
2024
39/177
2025
Net foreign direct investment
$5.77M
2025
-$6.64B
2024
Net inflows of foreign direct investment
-$12.6M
2024
$13.5B
2024
Net outflows of foreign direct investment
$0
2024
$6.84B
2024
Servicing debt to the IMF, % of GNI
3.79%
2024
n/a
Poverty at national poverty lines
49.7%
2017
16.4%
2021
Gross capital formation, % of GDP
31.2%
2025
21%
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).

GeoRank.org/economy/lesotho/portugal | 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 (1880–1989, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, 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.