Sierra Leone has a GDP of $7.55B compared to $14.2B for Tajikistan, ranking 157/197 and 145/197 by economy size, respectively.
Sierra Leone has $3.25B in government debt (44.3% of GDP), compared to $4.2B (28.4% of GDP) in Tajikistan.
The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.
| Year | GDP | |||
|---|---|---|---|---|
Sierra Leone
|
Tajikistan
|
|||
| Current $ | Constant $ | Current $ | Constant $ | |
| 1960 | $322,151,961 | $2,005,356,249 | - | - |
| 1961 | $327,978,758 | $2,041,634,017 | - | - |
| 1962 | $342,872,549 | $2,134,343,945 | - | - |
| 1963 | $348,700,980 | $2,170,621,713 | - | - |
| 1964 | $372,011,438 | $2,315,732,958 | - | - |
| 1965 | $359,523,810 | $2,482,006,192 | - | - |
| 1966 | $375,630,252 | $2,524,200,297 | - | - |
| 1967 | $348,895,028 | $2,525,116,116 | - | - |
| 1968 | $329,991,597 | $2,576,121,538 | - | - |
| 1969 | $408,853,541 | $2,795,747,409 | - | - |
| 1970 | $434,584,634 | $3,036,754,626 | - | - |
| 1971 | $419,495,788 | $3,142,006,005 | - | - |
| 1972 | $465,254,682 | $3,170,291,432 | - | - |
| 1973 | $575,471,814 | $3,241,832,807 | - | - |
| 1974 | $648,940,351 | $3,355,291,389 | - | - |
| 1975 | $679,352,876 | $3,411,298,469 | - | - |
| 1976 | $594,810,422 | $3,395,975,723 | - | - |
| 1977 | $692,079,407 | $3,397,560,822 | - | - |
| 1978 | $960,765,043 | $3,479,317,421 | - | - |
| 1979 | $1,109,343,425 | $3,636,278,670 | - | - |
| 1980 | $1,100,476,190 | $3,812,401,965 | - | - |
| 1981 | $1,114,926,661 | $3,922,253,604 | - | - |
| 1982 | $1,294,995,964 | $4,109,806,182 | - | - |
| 1983 | $995,278,515 | $4,023,385,112 | - | - |
| 1984 | $1,087,450,199 | $4,188,063,643 | - | - |
| 1985 | $856,890,459 | $3,965,621,323 | - | $6,548,213,772 |
| 1986 | $490,181,457 | $4,014,638,262 | - | $6,777,401,246 |
| 1987 | $660,106,336 | $4,304,947,544 | - | $6,696,072,428 |
| 1988 | $1,055,083,933 | $4,000,157,258 | - | $7,626,826,568 |
| 1989 | $932,974,420 | $4,029,358,406 | - | $7,131,082,791 |
| 1990 | $649,644,098 | $4,164,341,831 | $2,629,395,066 | $7,088,296,320 |
| 1991 | $779,981,987 | $4,262,285,544 | $2,536,585,366 | $6,585,027,346 |
| 1992 | $679,940,814 | $3,451,901,040 | $1,908,554,572 | $4,675,369,346 |
| 1993 | $768,867,883 | $3,499,349,144 | $1,646,623,195 | $3,908,608,781 |
| 1994 | $911,853,802 | $3,431,203,335 | $1,522,001,206 | $3,076,075,188 |
| 1995 | $870,740,292 | $3,156,715,563 | $1,231,561,860 | $2,694,139,780 |
| 1996 | $941,709,423 | $3,212,078,681 | $1,043,654,822 | $2,244,218,479 |
| 1997 | $850,232,760 | $3,023,302,223 | $921,518,033 | $2,281,936,479 |
| 1998 | $672,368,187 | $3,077,268,550 | $1,320,199,582 | $2,403,172,744 |
| 1999 | $669,386,624 | $3,016,360,584 | $1,086,612,290 | $2,492,079,339 |
| 2000 | $635,866,404 | $3,217,030,904 | $860,541,842 | $2,699,528,109 |
| 2001 | $1,681,473,894 | $3,012,895,636 | $1,080,772,551 | $2,958,165,475 |
| 2002 | $1,933,863,911 | $3,812,040,143 | $1,221,106,220 | $3,277,647,458 |
| 2003 | $2,142,618,046 | $4,173,559,980 | $1,555,318,261 | $3,638,188,648 |
| 2004 | $2,237,350,687 | $4,443,958,502 | $2,076,176,869 | $4,012,922,040 |
| 2005 | $2,545,275,313 | $4,637,426,231 | $2,312,352,021 | $4,281,787,757 |
| 2006 | $3,263,697,467 | $4,836,052,320 | $2,830,213,849 | $4,581,513,037 |
| 2007 | $3,632,957,611 | $5,017,392,581 | $3,719,524,541 | $4,938,871,060 |
| 2008 | $4,157,895,298 | $5,202,336,667 | $5,161,299,725 | $5,329,041,788 |
| 2009 | $3,953,403,098 | $5,281,974,206 | $4,979,472,364 | $5,536,874,479 |
| 2010 | $4,262,805,967 | $5,617,678,842 | $5,642,221,099 | $5,896,771,270 |
| 2011 | $4,861,632,885 | $6,072,747,635 | $6,522,756,255 | $6,333,132,379 |
| 2012 | $6,141,666,509 | $6,715,143,020 | $7,633,036,903 | $6,808,117,273 |
| 2013 | $7,502,762,863 | $7,699,806,186 | $8,448,411,318 | $7,311,917,934 |
| 2014 | $7,686,138,791 | $7,098,065,168 | $9,112,605,459 | $7,801,816,486 |
| 2015 | $6,788,352,975 | $6,788,352,975 | $8,271,431,485 | $8,271,431,485 |
| 2016 | $6,084,297,211 | $7,225,348,889 | $6,992,416,097 | $8,842,160,258 |
| 2017 | $5,749,846,528 | $7,457,128,029 | $7,536,402,853 | $9,469,953,673 |
| 2018 | $6,390,514,689 | $7,672,926,607 | $7,764,999,999 | $10,189,670,047 |
| 2019 | $6,526,183,564 | $8,095,145,458 | $8,300,813,599 | $10,943,705,647 |
| 2020 | $6,693,888,876 | $7,993,685,031 | $8,133,963,551 | $11,425,228,817 |
| 2021 | $7,173,379,137 | $8,465,060,863 | $8,937,805,347 | $12,499,200,275 |
| 2022 | $7,124,465,160 | $8,914,856,495 | $10,713,525,200 | $13,499,136,339 |
| 2023 | $6,411,787,856 | $9,423,896,753 | $12,244,169,293 | $14,619,564,550 |
| 2024 | $7,547,843,281 | $9,800,852,626 | $14,204,575,549 | $15,847,607,944 |
Economic indicators
|
Sierra Leone
|
Tajikistan
|
|
|---|---|---|
| Gross domestic product |
$7.55B
2024 |
$14.2B
2024 |
| GDP rank |
157/197
2024 |
145/197
2024 |
| GDP growth |
17.7%
2023-2024 |
16%
2023-2024 |
| GDP per capita |
$873
2024 |
$1,341
2024 |
| GDP per capita rank |
183/197
2024 |
167/197
2024 |
| GDP per capita, PPP |
$3,516
2024 |
$5,406
2024 |
| Government debt |
$3.25B
2024 |
$4.2B
2024 |
| Debt-to-GDP ratio |
44.3%
2025 |
28.4%
2025 |
| Government debt per person |
$376
2024 |
$396
2024 |
| Government debt per person rank |
174/185
2024 |
171/185
2024 |
| Average annual personal income after taxes |
$3,438
2025 |
$2,250
2025 |
| Income share by richest 10% |
29.4%
2018 |
28.2%
2024 |
| Income share by poorest 10% |
3.4%
2018 |
2.9%
2024 |
| Government expenditure, % of GDP |
17.7%
2025 |
30.3%
2025 |
| Consumer prices inflation |
9.4%
2024-2025 |
3.8%
2024-2025 |
| Central bank interest rate |
24.8%
2024 |
7.75%
2025 |
| Unemployment rate |
3.19%
2018 |
0.08%
2016 |
| Population |
8961932
|
10940854
|
GDP per capita in Sierra Leone vs Tajikistan
Sierra Leone's GDP per capita is $873, ranking 183/197, compared to $1,341 in Tajikistan, ranking 167/197. Adjusted for purchasing power (GDP per capita PPP), Sierra Leone ranks 171st at $3,516, while Tajikistan ranks 156th at $5,406.
| Year | Current $ | |||
|---|---|---|---|---|
|
Sierra Leone
|
Tajikistan
|
|||
| GDP per capita | GDP per capita, PPP | GDP per capita | GDP per capita, PPP | |
| 1960 | $142 | - | - | - |
| 1961 | $142.3 | - | - | - |
| 1962 | $146.4 | - | - | - |
| 1963 | $146.4 | - | - | - |
| 1964 | $153.4 | - | - | - |
| 1965 | $145.6 | - | - | - |
| 1966 | $149.4 | - | - | - |
| 1967 | $136.2 | - | - | - |
| 1968 | $126.4 | - | - | - |
| 1969 | $153.6 | - | - | - |
| 1970 | $160.2 | - | - | - |
| 1971 | $151.8 | - | - | - |
| 1972 | $165.3 | - | - | - |
| 1973 | $200.7 | - | - | - |
| 1974 | $222.2 | - | - | - |
| 1975 | $228.4 | - | - | - |
| 1976 | $196.4 | - | - | - |
| 1977 | $224.3 | - | - | - |
| 1978 | $305 | - | - | - |
| 1979 | $346 | - | - | - |
| 1980 | $336 | - | - | - |
| 1981 | $334 | - | - | - |
| 1982 | $380 | - | - | - |
| 1983 | $285.9 | - | - | - |
| 1984 | $306 | - | - | - |
| 1985 | $235.5 | - | - | - |
| 1986 | $131.5 | - | - | - |
| 1987 | $172.4 | - | - | - |
| 1988 | $268.2 | - | - | - |
| 1989 | $231.3 | - | - | - |
| 1990 | $154.8 | $1,382 | $487 | $2,583 |
| 1991 | $183.7 | $1,445 | $458 | $2,417 |
| 1992 | $163.2 | $1,220 | $338 | $1,721 |
| 1993 | $185 | $1,269 | $287.6 | $1,454 |
| 1994 | $218.5 | $1,266 | $261.3 | $1,148 |
| 1995 | $208.4 | $1,187 | $207 | $1,006 |
| 1996 | $224.3 | $1,225 | $172 | $836 |
| 1997 | $199.9 | $1,157 | $150.1 | $855 |
| 1998 | $156.5 | $1,180 | $213.7 | $905 |
| 1999 | $155 | $1,167 | $175 | $947 |
| 2000 | $143.7 | $1,242 | $136.9 | $1,036 |
| 2001 | $358 | $1,121 | $168.7 | $1,139 |
| 2002 | $389 | $1,360 | $187 | $1,257 |
| 2003 | $414 | $1,458 | $233.6 | $1,396 |
| 2004 | $418 | $1,541 | $306 | $1,550 |
| 2005 | $463 | $1,615 | $334 | $1,673 |
| 2006 | $580 | $1,698 | $401 | $1,810 |
| 2007 | $632 | $1,770 | $517 | $1,966 |
| 2008 | $705 | $1,824 | $703 | $2,120 |
| 2009 | $653 | $1,814 | $665 | $2,171 |
| 2010 | $685 | $1,900 | $737 | $2,291 |
| 2011 | $761 | $2,043 | $834 | $2,456 |
| 2012 | $938 | $2,317 | $952 | $2,679 |
| 2013 | $1,117 | $2,701 | $1,028 | $2,919 |
| 2014 | $1,118 | $2,762 | $1,082 | $3,152 |
| 2015 | $965 | $2,560 | $957 | $2,975 |
| 2016 | $844 | $2,635 | $789 | $2,914 |
| 2017 | $779 | $2,501 | $829 | $3,017 |
| 2018 | $846 | $2,640 | $834 | $3,069 |
| 2019 | $844 | $2,705 | $871 | $3,460 |
| 2020 | $846 | $2,721 | $834 | $3,654 |
| 2021 | $886 | $2,852 | $897 | $3,986 |
| 2022 | $861 | $3,147 | $1,052 | $4,514 |
| 2023 | $758 | $3,371 | $1,178 | $4,964 |
| 2024 | $873 | $3,516 | $1,341 | $5,406 |
Spending and national debt comparison
In 2024, Sierra Leone's government spending was $1.33B, accounting for 17.7% of its GDP, while Tajikistan's spent $4.27B, or 30.3% of GDP.
Debt-to-GDP ratio is 44.3% in Sierra Leone and 28.4% in Tajikistan, ranking 118/185 and 161/185, respectively.
| Year | % of GDP | |||
|---|---|---|---|---|
|
Sierra Leone
|
Tajikistan
|
|||
| Government spending | Government debt | Government spending | Government debt | |
| 1998 | - | - | 17.1% | 96.6% |
| 1999 | - | - | 17.5% | 107.8% |
| 2000 | 10.3% | - | 18.1% | 111.4% |
| 2001 | 12% | 113.5% | 17.3% | 99.4% |
| 2002 | 12.6% | 99.8% | 19.1% | 98.3% |
| 2003 | 11.7% | 99.8% | 19.1% | 69.8% |
| 2004 | 11.1% | 93.2% | 20.2% | 49.4% |
| 2005 | 10.9% | 78.9% | 22.9% | 45.8% |
| 2006 | 9.97% | 61.9% | 21.6% | 36.8% |
| 2007 | 8.1% | 26.4% | 20.3% | 34.3% |
| 2008 | 10.3% | 46.1% | 20.2% | 30.2% |
| 2009 | 11.3% | 31.1% | 23.6% | 36.9% |
| 2010 | 12.5% | 28.9% | 25.9% | 36.8% |
| 2011 | 13.2% | 25.8% | 24.3% | 35.5% |
| 2012 | 13.5% | 24.1% | 24.7% | 32.5% |
| 2013 | 11.4% | 22.3% | 27.7% | 29.3% |
| 2014 | 13.5% | 26.8% | 27.5% | 27.9% |
| 2015 | 13.1% | 28.8% | 31.9% | 35% |
| 2016 | 14.9% | 38.9% | 32.7% | 42.2% |
| 2017 | 15% | 44.2% | 33.8% | 46.3% |
| 2018 | 13.7% | 44.2% | 30.9% | 46.6% |
| 2019 | 13.3% | 45.3% | 28.8% | 43.5% |
| 2020 | 15.6% | 46.4% | 29.2% | 51.8% |
| 2021 | 20.3% | 47.1% | 27.6% | 42.1% |
| 2022 | 19.5% | 54% | 28% | 32.5% |
| 2023 | 17.7% | 49.9% | 31% | 30.9% |
| 2024 | 17.6% | 43% | 30% | 29.5% |
| 2025 | 17.7% | 44.3% | 30.3% | 28.4% |
Government deficit by year
In 2024, Sierra Leone's government deficit, the difference between spending and revenue, was -$349M, equivalent to -4.62% of GDP. This compares to Tajikistan's deficit of -$355M, or -2.5% of GDP.
Over the past 25 years, Sierra Leone recorded a fiscal deficit in 24 of those years, while Tajikistan ran a deficit in 19 years. On average, Sierra Leone posted an annual deficit equal to -2.49% of GDP, compared to deficit of -1.43% of GDP for Tajikistan.
| Year | Deficit/surplus, % of GDP | |
|---|---|---|
|
Sierra Leone
|
Tajikistan
|
|
| 1998 | - | -5.09% |
| 1999 | - | -4.03% |
| 2000 | -1.94% | -4.51% |
| 2001 | -3.22% | -2.11% |
| 2002 | -3.03% | -2.4% |
| 2003 | -2.78% | -1.74% |
| 2004 | -1.46% | -2.32% |
| 2005 | -1.17% | -2.83% |
| 2006 | -0.93% | 2% |
| 2007 | 12.6% | 2.13% |
| 2008 | -2.22% | 1.94% |
| 2009 | -1.51% | -0.2% |
| 2010 | -3.09% | -2.71% |
| 2011 | -2.78% | 0.6% |
| 2012 | -3.41% | 0.41% |
| 2013 | -1.74% | -0.73% |
| 2014 | -2.77% | 0.92% |
| 2015 | -2.86% | -1.96% |
| 2016 | -5.41% | -2.91% |
| 2017 | -5.61% | -5.65% |
| 2018 | -3.57% | -2.69% |
| 2019 | -1.95% | -2.04% |
| 2020 | -3.5% | -4.34% |
| 2021 | -4.35% | -0.67% |
| 2022 | -5.93% | -0.23% |
| 2023 | -4.99% | -1.27% |
| 2024 | -4.62% | -2.5% |
| 2025 | -4.2% | -2.5% |
Inflation comparison by year
Over the past 30 years, Sierra Leone has recorded an average annual inflation rate of 14%, compared with 28.1% in Tajikistan. In 2025, inflation was 9.4% in Sierra Leone and 3.8% in Tajikistan.
| Year | Inflation | ||
|---|---|---|---|
|
Sierra Leone
|
Tajikistan
|
Sierra Leone
|
Tajikistan
|
| 1996 | 23.1% | 419% | |
| 1997 | 14.6% | 88% | |
| 1998 | 36% | 43.2% | |
| 1999 | 34.1% | 27.5% | |
| 2000 | -0.9% | 32.9% | |
| 2001 | 2.6% | 38.6% | |
| 2002 | 0.1% | 12.2% | |
| 2003 | 4% | 16.4% | |
| 2004 | 12.9% | 7.2% | |
| 2005 | 13.7% | 7.3% | |
| 2006 | 10.5% | 10% | |
| 2007 | 17% | 13.2% | |
| 2008 | 8.2% | 20.4% | |
| 2009 | 7.5% | 6.4% | |
| 2010 | 7.2% | 6.5% | |
| 2011 | 6.8% | 12.4% | |
| 2012 | 6.6% | 5.8% | |
| 2013 | 5.5% | 5% | |
| 2014 | 4.6% | 6.1% | |
| 2015 | 6.7% | 5.8% | |
| 2016 | 10.9% | 5.9% | |
| 2017 | 18.2% | 7.3% | |
| 2018 | 16% | 3.8% | |
| 2019 | 14.8% | 7.8% | |
| 2020 | 13.4% | 8.6% | |
| 2021 | 11.9% | 9% | |
| 2022 | 27.2% | 6.6% | |
| 2023 | 47.7% | 3.7% | |
| 2024 | 28.4% | 3.5% | |
| 2025 | 9.4% | 3.8% | |
Balance of trade
|
Sierra Leone
|
Tajikistan
|
|
|---|---|---|
Current account balance
|
-$606M
2023 |
$887M
2024 |
| Current account balance ranking |
106/189
2023 |
53/189
2024 |
| Current account balance, % of GDP |
-9.46%
2023 |
+6.24%
2024 |
| Goods imports |
$1.92B
2023 |
$5.94B
2024 |
| Goods exports |
$1.34B
2023 |
$1.42B
2024 |
| Service imports |
$348M
2023 |
$971M
2024 |
| Service exports |
$42.5M
2023 |
$195M
2024 |
| Imports of goods and services, % of GDP |
43.5%
2024 |
48.4%
2023 |
| Exports of goods and services, % of GDP |
20.9%
2024 |
17.2%
2023 |
Economic freedom indices
The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.
|
Sierra Leone
|
Tajikistan
|
|
|---|---|---|
| Economic freedom | 48 | 51.5 |
| Economic freedom ranking | 173/197 | 152/197 |
| Property rights | 33.8 | 28.8 |
| Government integrity | 36 | 15.7 |
| Judicial effectiveness | 41.5 | 11.2 |
| Tax burden | 87.8 | 92.3 |
| Government spending | 89 | 75 |
| Fiscal health | 53.8 | 97.3 |
| Business freedom | 37 | 56.2 |
| Labor freedom | 23.7 | 43.6 |
| Monetary freedom | 50.2 | 71 |
| Trade freedom | 63.6 | 72.2 |
| Investment freedom | 40 | 25 |
| Financial freedom | 20 | 30 |
Economic freedom by year comparison
The Economic Freedom Index for Sierra Leone is 48, ranking 173/197, compared to 51.5 for Tajikistan, ranking 152/197. The chart below displays a comparison of annual changes in economic freedom indexes.
| Year | Economic freedom index | |
|---|---|---|
|
Sierra Leone
|
Tajikistan
|
|
| 1995 | 49.8 | - |
| 1996 | 52.3 | - |
| 1997 | 45 | - |
| 1998 | 47.7 | 41.1 |
| 1999 | 47.2 | 41.2 |
| 2000 | 44.2 | 44.8 |
| 2001 | - | 46.8 |
| 2002 | - | 47.3 |
| 2003 | 42.2 | 46.5 |
| 2004 | 43.6 | 48.7 |
| 2005 | 44.8 | 50.4 |
| 2006 | 45.2 | 52.6 |
| 2007 | 47 | 53.6 |
| 2008 | 48.3 | 54.4 |
| 2009 | 47.8 | 54.6 |
| 2010 | 47.9 | 53 |
| 2011 | 49.6 | 53.5 |
| 2012 | 49.1 | 53.4 |
| 2013 | 48.3 | 53.4 |
| 2014 | 50.5 | 52 |
| 2015 | 51.7 | 52.7 |
| 2016 | 52.3 | 51.3 |
| 2017 | 52.6 | 58.2 |
| 2018 | 51.8 | 58.3 |
| 2019 | 47.5 | 55.6 |
| 2020 | 48 | 52.2 |
| 2021 | 51.7 | 55.2 |
| 2022 | 52 | 49.7 |
| 2023 | 50.2 | 50.6 |
| 2024 | 44.6 | 51.3 |
| 2025 | 48 | 51.5 |
More economic indicators
|
Sierra Leone
|
Tajikistan
|
|
|---|---|---|
| Services, % of GDP |
44.8%
2024 |
34.7%
2023 |
| Industry, % of GDP |
27.3%
2024 |
33.6%
2023 |
| Agriculture, forestry, and fishing, % of GDP |
25.4%
2024 |
22.9%
2023 |
|
GNI, Atlas method
|
$7.26B
2024 |
$17.5B
2024 |
| GNI per capita, PPP |
$3,490
2024 |
$7,100
2024 |
| Total reserves including gold |
$433M
2024 |
$3.3B
2023 |
| Total reserves ranking |
160/177
2024 |
117/177
2023 |
|
Net foreign direct investment
|
-$241M
2023 |
-$190M
2024 |
|
Net inflows of foreign direct investment
|
$274M
2024 |
$291M
2024 |
|
Net outflows of foreign direct investment
|
-$33.3K
2010 |
$101M
2024 |
|
Servicing debt to the IMF, % of GNI
|
2.44%
2023 |
3.78%
2023 |
| Poverty at national poverty lines |
56.8%
2018 |
19.8%
2024 |
|
Gross capital formation, % of GDP
|
29.5%
2024 |
31.7%
2023 |
GDP per capita map
GDP per capita
Compare countries by 7 more topics
Relevant pages:
By topic
vs
comparisons:
Economy comparisons
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.