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Economy of Mexico vs Tunisia compared: GDP & Debt

Updated on by Georank

Mexico has a GDP of $1.83T compared to $57.5B for Tunisia, ranking 14/197 and 93/197 by economy size, respectively.

Mexico has $1.13T in government debt (61.8% of GDP), compared to $46.7B (81.3% of GDP) in Tunisia.

Mexico vs Tunisia GDP by year

Mexico
Tunisia
1x
Year GDP, current $
Mexico Tunisia
2025 $1,832,641,364,776 $57,502,836,548
2024 $1,830,489,311,089 $51,412,122,480
2023 $1,794,410,347,718 $48,205,328,303
2022 $1,466,934,724,243 $44,929,920,093
2021 $1,316,569,466,834 $47,073,234,359
2020 $1,121,064,767,169 $42,491,780,918
2019 $1,304,106,204,006 $41,905,642,419
2018 $1,256,300,182,984 $42,686,504,460
2017 $1,190,721,475,853 $42,163,530,591
2016 $1,112,233,497,453 $44,360,072,680
2015 $1,213,294,467,654 $45,779,494,042
2014 $1,364,507,717,689 $50,271,812,921
2013 $1,327,436,290,439 $48,685,446,414
2012 $1,255,110,424,742 $47,311,401,813
2011 $1,229,013,703,417 $48,123,325,825
2010 $1,105,424,238,652 $46,206,091,938
2009 $943,437,414,951 $43,455,740,497
2008 $1,161,553,459,985 $44,859,439,902
2007 $1,102,355,554,880 $38,915,353,867
2006 $1,020,265,057,882 $34,376,664,601
2005 $917,571,853,437 $32,272,186,695
2004 $819,459,227,375 $31,183,885,241
2003 $765,549,967,889 $27,453,902,261
2002 $810,666,116,402 $23,141,616,605
2001 $796,064,590,549 $22,065,832,449
2000 $742,061,329,749 $21,473,528,161
1999 $631,249,359,702 $22,943,202,175
1998 $557,461,102,631 $21,802,893,587
1997 $523,449,530,464 $20,746,210,354
1996 $432,157,945,024 $19,587,161,807
1995 $380,157,469,867 $18,030,876,599
1994 $553,618,247,901 $15,633,174,304
1993 $530,160,763,663 $14,608,335,608
1992 $363,157,832,924 $15,496,708,060
1991 $313,139,656,146 $13,074,782,609
1990 $261,253,675,693 $12,290,568,182
1989 $221,403,098,267 $10,101,851,745
1988 $181,611,150,497 $10,096,245,762
1987 $147,542,558,209 $9,696,715,911
1986 $134,556,034,673 $9,017,806,654
1985 $195,241,069,482 $8,410,226,053
1984 $184,230,754,105 $8,254,541,195
1983 $156,167,000,433 $8,350,582,748
1982 $184,602,611,610 $8,133,580,052
1981 $263,797,827,860 $8,428,445,294
1980 $205,577,055,466 $8,744,134,354
1979 $134,531,900,899 $7,188,863,904
1978 $102,648,570,299 $5,968,460,080
1977 $81,912,018,784 $5,109,324,009
1976 $88,875,923,765 $4,508,191,942
1975 $88,000,000,000 $4,328,965,588
1974 $72,000,000,000 $3,545,868,575
1973 $55,280,000,000 $2,730,813,385
1972 $45,200,000,000 $2,237,556,149
1971 $39,200,000,000 $1,685,162,272
1970 $35,520,000,000 $1,439,238,095
1969 $32,480,000,000 $1,289,904,762
1968 $29,360,000,000 $1,214,666,667
1967 $26,560,000,000 $1,085,714,286
1966 $24,320,000,000 $1,040,952,381
1965 $21,840,000,000 $991,047,619
1964 $20,080,000,000 $1,025,866,792
1963 $16,960,000,000 $1,026,737,600
1962 $15,200,000,000 $880,027,733
1961 $14,160,000,000 $866,155,429
1960 $13,040,000,000 -

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

GeoRank.org/economy/mexico/tunisia | CC BY

GDP per capita in Mexico vs Tunisia by year

Mexico
GDP per capita

GDP per capita, PPP
Tunisia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Mexico Tunisia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $13,889 - $4,657 -
2024 $13,988 $26,185 $4,188 $14,521
2023 $13,831 $25,243 $3,951 $14,041
2022 $11,406 $23,135 $3,707 $13,619
2021 $10,314 $20,783 $3,907 $12,444
2020 $8,841 $19,354 $3,549 $11,918
2019 $10,370 $20,964 $3,529 $12,495
2018 $10,085 $20,921 $3,628 $11,841
2017 $9,649 $20,489 $3,619 $11,289
2016 $9,098 $20,105 $3,848 $10,994
2015 $10,021 $19,071 $4,015 $10,783
2014 $11,391 $18,821 $4,459 $10,947
2013 $11,217 $18,170 $4,370 $10,672
2012 $10,744 $18,005 $4,297 $10,615
2011 $10,664 $17,267 $4,421 $10,436
2010 $9,729 $15,909 $4,292 $10,555
2009 $8,424 $15,191 $4,080 $10,237
2008 $10,524 $15,681 $4,255 $9,975
2007 $10,134 $15,032 $3,727 $9,479
2006 $9,513 $14,540 $3,323 $8,729
2005 $8,672 $13,260 $3,147 $8,117
2004 $7,850 $12,658 $3,067 $7,672
2003 $7,434 $12,066 $2,726 $7,098
2002 $7,983 $11,762 $2,321 $6,715
2001 $7,953 $11,739 $2,236 $6,593
2000 $7,524 $11,705 $2,199 $6,279
1999 $6,500 $11,031 $2,376 $5,930
1998 $5,833 $10,756 $2,285 $5,579
1997 $5,567 $10,182 $2,202 $5,333
1996 $4,674 $9,496 $2,107 $5,040
1995 $4,184 $8,933 $1,968 $4,686
1994 $6,202 $9,466 $1,733 $4,555
1993 $6,048 $9,041 $1,649 $4,401
1992 $4,221 $9,470 $1,785 $4,292
1991 $3,709 $9,079 $1,538 $3,975
1990 $3,154 $8,578 $1,476 $3,780
1989 $2,725 - $1,239 -
1988 $2,279 - $1,266 -
1987 $1,888 - $1,245 -
1986 $1,757 - $1,187 -
1985 $2,602 - $1,135 -
1984 $2,506 - $1,143 -
1983 $2,170 - $1,184 -
1982 $2,621 - $1,177 -
1981 $3,829 - $1,247 -
1980 $3,055 - $1,324 -
1979 $2,049 - $1,113 -
1978 $1,604 - $946 -
1977 $1,315 - $830 -
1976 $1,465 - $752 -
1975 $1,492 - $741 -
1974 $1,256 - $624 -
1973 $993 - $493 -
1972 $837 - $415 -
1971 $748 - $320 -
1970 $699 - $280.5 -
1969 $660 - $257.7 -
1968 $616 - $248.9 -
1967 $576 - $228 -
1966 $545 - $223.8 -
1965 $506 - $217.3 -
1964 $481 - $228.5 -
1963 $420 - $231.9 -
1962 $388 - $201.4 -
1961 $374 - $200.7 -
1960 $355 - - -

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

GeoRank.org/economy/mexico/tunisia | CC BY

Mexico's GDP per capita is $13,889, ranking 76/197, compared to $4,657 in Tunisia, ranking 127/197. Adjusted for purchasing power (GDP per capita PPP), Mexico ranks 80th at $26,185, while Tunisia ranks 114th at $14,521.

Economic indicators

Mexico Tunisia
Gross domestic product
$1.83T
2025
$57.5B
2025
GDP rank
14/197
2025
93/197
2025
GDP growth
0.56%
2024-2025
2.49%
2024-2025
GDP per capita
$13,889
2025
$4,657
2025
GDP per capita rank
76/197
2025
127/197
2025
GDP per capita, PPP
$26,185
2024
$14,521
2024
GDP per capita PPP rank
80/197
2024
114/197
2024
Government debt
$1.13T
2025
$46.7B
2025
Debt-to-GDP ratio
61.8%
2025
81.3%
2025
Government debt per person
$8,577
2025
$3,785
2025
Government debt per person rank
66/185
2025
95/185
2025
Average annual personal income after taxes
$10,482
2026
$4,193
2026
Market capitalization of domestic companies
$560B
2025
$12B
2025
Number of millionaires
333,000
2026
n/a
Number of billionaires
22
2026
n/a
Income share by richest 10%
33.4%
2024
27%
2021
Income share by poorest 10%
2.1%
2024
3.1%
2021
Government expenditure, % of GDP
29.8%
2025
34%
2025
Consumer prices inflation
3.81%
2024-2025
5.3%
2024-2025
Central bank interest rate
6.5%
2026
7.5%
2025
Unemployment rate
2.54%
2025
15.1%
2023
Population
133551566
12450912

Spending and national debt comparison by year

Mexico
Spending

Debt
Tunisia
Spending

Debt
1x
Year % of GDP
Mexico Tunisia
Government spending Government debt Government spending Government debt
2025 29.8% 61.8% 34% 81.3%
2024 30.8% 59.1% 35.8% 85.7%
2023 28.6% 52.8% 35.9% 84%
2022 28.5% 53.8% 36.6% 83%
2021 26.7% 56.7% 33.4% 79.7%
2020 27.8% 58.5% 34.5% 77.7%
2019 25.3% 51.9% 29.5% 67.3%
2018 25% 52.2% 28.7% 72.9%
2017 25% 52.5% 28.7% 67.1%
2016 26.5% 55% 27.2% 58.9%
2015 26.6% 51% 27.4% 52.4%
2014 26.9% 47.1% 27.7% 50.7%
2013 26.7% 44.1% 30.8% 45.6%
2012 27% 40.8% 28.3% 49%
2011 26.6% 41.2% 27.9% 43.3%
2010 26.5% 40.2% 24% 38.8%
2009 26.5% 41.7% 24.6% 40.3%
2008 26.5% 40.6% 23.7% 41.4%
2007 22.5% 35.5% 23.3% 42.7%
2006 21.6% 35.8% 22.9% 45.7%
2005 21.2% 36.8% 23% 50%
2004 20.5% 38.9% 23% 51.6%
2003 21.5% 42.1% 23.5% 52.6%
2002 19.8% 39.9% 24.1% 51.6%
2001 19.5% 37.3% 24% 52.2%
2000 19.4% 38.5% 24% 62.9%
1999 20.1% 41.7% 24% 61.9%
1998 19.5% 39.7% 24.2% 58.2%
1997 20.7% 39.1% 24.5% 66.6%
1996 20.8% 42.5% 26.7% 66.8%
1995 18.9% 30.7% 26.6% 65.6%
1994 18.9% 26.8% 25.9% 63.9%
1993 18.2% 19.2% 26.7% 63.8%
1992 19% 21.5% 25.7% 62.1%
1991 20.1% 29.2% 27.6% 63.3%
1990 22.9% 35.7% - -
1989 19.2% 36% - -
1988 23.6% 36.5% - -
1987 26.7% 52.7% - -
1986 25.1% 47.8% - -
1985 21.4% 30.4% - -
1984 19.8% 25.2% - -
1983 21.6% 25.3% - -
1982 24.7% 29.8% - -
1981 20.1% 41.7% - -
1980 17.5% 31.4% - -
1979 16.5% 35.8% - -
1978 15.7% 39% - -
1977 15.5% 41.5% - -
1976 15.5% 31.3% - -
1975 14.7% 24.4% - -
1974 13.8% 21.7% - -
1973 12.7% 20% - -
1972 11.9% 17.9% - -
1971 10.6% 17% - -
1970 10.9% 17.1% - -
1969 11.8% 10.7% - -
1968 10.9% 7.85% - -
1967 10.4% 8.22% - -
1966 11.6% 5.14% - -
1965 10.7% 9.99% - -
1964 9.21% 6.22% - -
1963 8.51% 4.13% - -
1962 8.26% 4.2% - -
1961 8.01% 4.38% - -
1960 9.5% 4.58% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1995, retrieved 2026-07-08).

GeoRank.org/economy/mexico/tunisia | CC BY

In 2025, Mexico's government spending was $547B, accounting for 29.8% of its GDP, while Tunisia spent $19.6B, or 34% of GDP.

Debt-to-GDP ratio is 61.8% in Mexico and 81.3% in Tunisia, ranking 73/185 and 40/185, respectively.

Government deficit by year

Deficit/surplus
Mexico

Tunisia
1x
Year Deficit/surplus, % of GDP
Mexico Tunisia
2025 -4.86% -5.24%
2024 -5.78% -6.36%
2023 -4.3% -7.27%
2022 -4.32% -7%
2021 -3.75% -7.81%
2020 -4.29% -9.06%
2019 -2.27% -3.6%
2018 -2.14% -4.27%
2017 -1.03% -5.61%
2016 -2.68% -5.87%
2015 -3.86% -4.95%
2014 -4.37% -3.11%
2013 -3.56% -7.05%
2012 -3.57% -4.9%
2011 -3.2% -3.19%
2010 -3.8% -0.46%
2009 -3.94% -2.59%
2008 -0.68% -0.62%
2007 -1.46% -2.47%
2006 -1.23% -2.33%
2005 -1.43% -2.59%
2004 -1.35% -2.1%
2003 -2.24% -2.64%
2002 -2.18% -2.55%
2001 -2.57% -2.87%
2000 -2.69% -3.22%
1999 -4.49% -3.05%
1998 -4.49% -2.84%
1997 -3.48% -3.7%
1996 -3.66% -5.18%
1995 -2.28% -4.53%
1994 -2.25% -2.87%
1993 -1.51% -3.22%
1992 2.26% -3.45%
1991 1.49% -5.25%
1990 -3.11% -
1989 -4.75% -
1988 -8.76% -
1987 -11.6% -
1986 -11.2% -
1985 -7.2% -
1984 -5.79% -
1983 -6.03% -
1982 -11.4% -
1981 -4.9% -
1980 -1.75% -
1979 -2.15% -
1978 -1.88% -
1977 -2.43% -
1976 -3.14% -
1975 -2.64% -
1974 -3.33% -
1973 -2.75% -
1972 -2.3% -
1971 -1.43% -
1970 -1.71% -
1969 -2.74% -
1968 -2.06% -
1967 -2.12% -
1966 -3.2% -
1965 -2.51% -
1964 -1.44% -
1963 -0.92% -
1962 -0.79% -
1961 -0.88% -
1960 -1.36% -
1959 -0.73% -
1958 0.24% -
1957 -0.03% -
1956 0.52% -
1955 0.6% -
1954 -0.94% -
1953 -0.58% -
1952 0.42% -
1951 -0.26% -
1950 -0.2% -
1949 0.44% -
1948 -1.55% -
1947 -0.93% -
1946 0.66% -
1945 -1.11% -
1944 -1.12% -
1943 0.05% -
1942 -0.93% -
1941 -0.26% -
1940 -0.4% -
1939 -0.06% -
1938 -0.91% -
1937 -0.41% -
1936 -0.39% -
1935 0.26% -
1934 0.72% -
1933 -0.58% -
1932 0% -
1931 0.71% -
1930 0.21% -
1929 0.95% -
1928 0.24% -
1927 -0.3% -
1926 -0.29% -
1925 0.46% -
1924 1.34% -
1923 1.02% -
1922 1.13% -
1921 0.64% -
1920 0.91% -
1919 0.41% -
1918 -0.19% -
1917 0.63% -
1916 - -
1915 - -
1914 - -
1913 0.28% -
1912 -0.79% -
1911 -0.31% -
1910 0.1% -
1909 0.15% -
1908 -0.08% -
1907 0.43% -
1906 0.72% -
1905 0.35% -
1904 1.09% -
1903 3.82% -
1902 0.42% -
1901 0.62% -
1900 0.76% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1900–1989, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/mexico/tunisia | CC BY

In 2025, Mexico's government deficit, the difference between spending and revenue, was $89B, equivalent to 4.86% of GDP. This compares to Tunisia's deficit of $3.01B, or 5.24% of GDP.

Over the past 35 years, Mexico recorded a fiscal deficit in 33 of those years, while Tunisia ran a deficit in 35 years. On average, Mexico posted an annual deficit equal to 2.74% of GDP, compared to deficit of 4.11% of GDP for Tunisia.

Inflation comparison by year

Inflation
Mexico

Tunisia
1x
Year Consumer prices inflation
Mexico Tunisia
2025 3.81% 5.3%
2024 4.72% 7%
2023 5.53% 9.3%
2022 7.9% 8.3%
2021 5.69% 5.7%
2020 3.4% 5.6%
2019 3.64% 6.7%
2018 4.9% 7.3%
2017 6.04% 5.3%
2016 2.82% 3.6%
2015 2.72% 4.4%
2014 4.02% 4.6%
2013 3.81% 5.4%
2012 4.11% 4.6%
2011 3.41% 3.2%
2010 4.16% 4.4%
2009 5.3% 3.5%
2008 5.12% 4.9%
2007 3.97% 3.4%
2006 3.63% 4.1%
2005 3.99% 1.9%
2004 4.69% 3.7%
2003 4.55% 2.7%
2002 5.03% 2.7%
2001 6.37% 1.9%
2000 9.49% 2.8%
1999 16.6% 2.8%
1998 15.9% 3.1%
1997 20.6% 3.6%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/mexico/tunisia | CC BY

Over the past 29 years, Mexico has recorded an average annual inflation rate of 6.07%, compared with 4.54% in Tunisia. In 2025, inflation was 3.81% in Mexico and 5.3% in Tunisia.

Top exports between countries

Mexico
Export category Export value
Machinery & equipment $8.77M
Miscellaneous $938K
Chemicals & pharma $276K
Raw materials & minerals $75K
Tunisia
Export category Export value
Machinery & equipment $19.6M
Raw materials & minerals $5.66M
Textiles & consumer goods $3.79M
Processed food, beverages & tobacco $861K
Chemicals & pharma $554K
Metals $553K
Animal & marine products $174K
Raw agricultural goods $123K
Miscellaneous $36K
Wood & paper products $8K

Balance of trade

Mexico Tunisia
Current account balance
-$8.2B
2025
-$775M
2024
Current account balance ranking
171/190
2025
111/190
2024
Current account balance, % of GDP
-0.45%
2025
-1.51%
2024
Goods imports
$665B
2025
$18.7B
2024
Goods exports
$666B
2025
$8.95B
2024
Service imports
$75.4B
2025
$3.92B
2024
Service exports
$64B
2025
$11.2B
2024
Imports of goods and services, % of GDP
40.3%
2025
54.8%
2025
Exports of goods and services, % of GDP
39.6%
2025
46.7%
2025

Economic freedom indices

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

Mexico Tunisia
Economic freedom 59.8 48.1
Economic freedom ranking 102/197 172/197
Property rights 37.6 55.7
Government integrity 28.8 42.1
Judicial effectiveness 40.4 39.7
Tax burden 75.4 68.5
Government spending 74.6 62.5
Fiscal health 56.7 16
Business freedom 67 59.4
Labor freedom 57.3 55.8
Monetary freedom 70.6 72.4
Trade freedom 74.2 54.6
Investment freedom 75 20
Financial freedom 60 30

Economic freedom comparison by year

Mexico
Tunisia
1x
Year Economic freedom index
Mexico Tunisia
2026 59.8 48.1
2025 61.3 49.1
2024 62 48.8
2023 63.2 52.9
2022 63.7 54.2
2021 65.5 56.6
2020 66 55.8
2019 64.7 55.4
2018 64.8 58.9
2017 63.6 55.7
2016 65.2 57.6
2015 66.4 57.7
2014 66.8 57.3
2013 67 57
2012 65.3 58.6
2011 67.8 58.5
2010 68.3 58.9
2009 65.8 58
2008 66.2 60.1
2007 66 60.3
2006 64.7 57.5
2005 65.2 55.4
2004 66 58.4
2003 65.3 58.1
2002 63 60.2
2001 60.6 60.8
2000 59.3 61.3
1999 58.5 61.1
1998 57.9 63.9
1997 57.1 63.8
1996 61.2 63.9
1995 63.1 63.4

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

GeoRank.org/economy/mexico/tunisia | CC BY

The Economic Freedom Index for Mexico is 59.8, ranking 102/197, compared to 48.1 for Tunisia, ranking 172/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Mexico Tunisia
Services, % of GDP
58.9%
2025
62.7%
2025
Industry, % of GDP
30.6%
2025
22%
2025
Agriculture, forestry, and fishing, % of GDP
3.88%
2025
10.3%
2025
GNI, Atlas method
$1.81T
2025
$53B
2025
GNI per capita, PPP
$25,070
2025
$14,870
2025
Total reserves including gold
$256B
2025
$9.34B
2024
Total reserves ranking
17/177
2025
84/177
2024
Net foreign direct investment
-$31.8B
2025
-$725M
2024
Net inflows of foreign direct investment
$45.5B
2024
$760M
2024
Net outflows of foreign direct investment
$13B
2024
$34.6M
2024
Servicing debt to the IMF, % of GNI
3.77%
2024
10.9%
2024
Poverty at national poverty lines
29.6%
2024
16.6%
2021
Gross capital formation, % of GDP
22.6%
2025
15.2%
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/mexico/tunisia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1900–1995, 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.