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Economy of Tunisia vs Turkey compared: GDP & Debt

Updated on by Georank team

Tunisia has a GDP of $51.3B compared to $1.36T for Turkey, ranking 93/197 and 17/197 by economy size, respectively.

Tunisia has $42.7B in government debt (84.2% of GDP), compared to $353B (27.1% of GDP) in Turkey.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Tunisia
GDP, current $

GDP, constant 2015 $
Turkey
GDP, current $

GDP, constant 2015 $
Year GDP
Tunisia Turkey
Current $ Constant $ Current $ Constant $
1960 - - $7,566,666,667 $69,393,850,612
1961 $866,155,429 $6,137,821,865 $7,988,888,889 $70,196,091,674
1962 $880,027,733 $5,856,090,654 $8,922,222,222 $74,107,016,789
1963 $1,026,737,600 $5,227,498,193 $10,355,555,556 $80,825,785,367
1964 $1,025,866,792 $4,983,062,999 $11,177,777,778 $85,238,110,897
1965 $991,047,619 $4,856,658,027 $11,966,666,667 $87,644,834,141
1966 $1,040,952,381 $5,024,449,146 $14,100,000,000 $97,472,287,281
1967 $1,085,714,286 $5,032,586,365 $15,644,444,444 $102,085,173,262
1968 $1,214,666,667 $5,556,464,947 $17,500,000,000 $109,004,502,233
1969 $1,289,904,762 $5,820,275,646 $19,466,666,667 $113,453,134,702
1970 $1,439,238,095 $6,092,061,086 $17,863,636,364 $117,121,651,993
1971 $1,685,162,272 $6,735,394,768 $16,166,666,667 $123,641,456,553
1972 $2,237,556,149 $7,930,436,885 $20,650,000,000 $132,822,809,400
1973 $2,730,813,385 $7,878,520,795 $26,000,000,000 $137,155,933,759
1974 $3,545,868,575 $8,514,694,201 $35,414,285,714 $144,829,087,365
1975 $4,328,965,588 $9,124,014,225 $46,042,857,143 $155,219,289,300
1976 $4,508,191,942 $9,842,699,381 $51,450,000,000 $171,457,057,860
1977 $5,109,324,009 $10,178,443,291 $58,683,333,333 $177,298,033,677
1978 $5,968,460,080 $10,833,983,238 $65,912,500,000 $179,962,704,354
1979 $7,188,863,904 $11,545,507,381 $89,616,129,032 $178,839,532,695
1980 $8,744,134,354 $12,402,038,508 $68,823,684,211 $174,462,702,630
1981 $8,428,445,294 $13,085,895,944 $71,180,180,180 $182,935,743,325
1982 $8,133,580,052 $13,021,285,955 $64,369,325,153 $189,454,160,610
1983 $8,350,582,748 $13,630,931,806 $61,803,555,556 $198,872,079,969
1984 $8,254,541,195 $14,414,552,711 $59,937,602,180 $212,220,405,224
1985 $8,410,226,053 $15,228,769,277 $67,232,758,621 $221,221,385,068
1986 $9,017,806,654 $15,008,410,750 $75,673,037,037 $236,733,497,412
1987 $9,696,715,911 $16,014,180,050 $87,190,081,680 $259,188,945,262
1988 $10,096,245,762 $16,025,735,735 $90,875,175,809 $265,204,038,481
1989 $10,101,851,745 $16,305,657,121 $107,127,191,329 $265,973,777,473
1990 $12,290,568,182 $17,601,927,420 $150,655,500,192 $290,619,297,801
1991 $13,074,782,609 $18,289,202,651 $151,034,731,544 $292,712,567,677
1992 $15,496,708,060 $19,716,808,223 $159,104,772,992 $307,452,504,005
1993 $14,608,335,608 $20,148,572,580 $180,415,757,852 $330,976,510,460
1994 $15,633,174,304 $20,788,977,092 $130,650,447,499 $315,526,039,212
1995 $18,030,876,599 $21,277,865,199 $234,699,627,004 $340,384,022,645
1996 $19,587,161,807 $22,798,398,674 $250,366,965,174 $364,748,025,041
1997 $20,746,210,354 $24,038,846,665 $263,817,553,748 $391,585,682,739
1998 $21,802,893,587 $25,188,807,992 $276,035,372,655 $399,059,372,123
1999 $22,943,202,175 $26,713,898,246 $256,673,939,248 $386,877,005,104
2000 $21,473,528,161 $27,972,115,617 $274,748,463,179 $413,901,474,163
2001 $22,065,832,449 $29,034,013,116 $202,195,080,239 $391,304,902,374
2002 $23,141,616,605 $29,418,004,532 $240,778,008,474 $416,487,363,950
2003 $27,453,902,261 $30,801,356,640 $315,392,899,922 $440,639,854,395
2004 $31,183,885,241 $32,722,064,779 $410,156,784,496 $484,375,146,823
2005 $32,272,186,695 $33,862,934,470 $508,314,210,213 $528,509,363,516
2006 $34,376,664,601 $35,638,740,560 $559,668,118,237 $565,862,429,107
2007 $38,915,353,867 $38,029,929,333 $685,228,481,017 $594,767,729,618
2008 $44,859,439,902 $39,641,554,633 $775,415,944,333 $600,240,295,873
2009 $43,455,740,497 $40,848,025,577 $653,894,449,921 $570,932,398,858
2010 $46,206,091,938 $42,061,674,643 $782,545,664,268 $619,702,577,582
2011 $48,123,325,825 $41,200,826,153 $844,192,507,381 $687,745,688,382
2012 $47,311,401,813 $42,938,131,960 $885,327,622,479 $720,809,935,556
2013 $48,685,446,414 $43,981,498,924 $962,167,643,589 $781,994,134,596
2014 $50,271,812,921 $45,340,671,514 $942,343,431,929 $817,972,077,518
2015 $45,779,494,042 $45,779,494,042 $865,460,050,684 $865,460,050,684
2016 $44,360,072,680 $46,290,957,182 $870,818,016,910 $894,225,044,187
2017 $42,163,530,591 $47,333,713,939 $863,874,522,365 $964,205,820,086
2018 $42,686,504,460 $48,567,689,497 $788,356,985,774 $997,645,953,749
2019 $41,905,642,419 $49,320,533,876 $775,853,144,223 $1,010,631,549,473
2020 $42,491,780,918 $44,893,953,704 $733,628,247,119 $1,028,853,867,660
2021 $47,073,234,359 $47,020,147,730 $839,938,668,172 $1,150,372,769,728
2022 $44,929,920,093 $48,314,277,430 $926,097,476,914 $1,212,967,141,770
2023 $48,205,328,303 $48,403,183,212 $1,141,242,864,657 $1,274,162,834,490
2024 $51,332,285,657 $49,184,626,298 $1,359,123,768,774 $1,316,562,171,167

Economic indicators

Tunisia Turkey
Gross domestic product
$51.3B
2024
$1.36T
2024
GDP rank
93/197
2024
17/197
2024
GDP growth
6.49%
2023-2024
19.1%
2023-2024
GDP per capita
$4,181
2024
$15,893
2024
GDP per capita rank
129/197
2024
66/197
2024
GDP per capita, PPP
$14,521
2024
$45,123
2024
Government debt
$42.7B
2024
$353B
2024
Debt-to-GDP ratio
84.2%
2026
27.1%
2026
Government debt per person
$3,476
2024
$4,127
2024
Government debt per person rank
96/185
2024
91/185
2024
Average annual personal income after taxes
$4,061
2026
$9,587
2026
Market capitalization of domestic companies
$8.3B
2024
$379B
2024
Number of millionaires n/a
60,787
2024
Number of billionaires n/a
32
2025
Income share by richest 10%
27%
2021
35.2%
2022
Income share by poorest 10%
3.1%
2021
2.1%
2022
Government expenditure, % of GDP
31.8%
2026
32%
2026
Consumer prices inflation
6.1%
2025-2026
58.5%
2023-2024
Central bank interest rate
7.5%
2025
40.5%
2025
Unemployment rate
15.1%
2023
8.71%
2024
Population
12415813
85963745

GDP per capita in Tunisia vs Turkey

Tunisia's GDP per capita is $4,181, ranking 129/197, compared to $15,893 in Turkey, ranking 66/197. Adjusted for purchasing power (GDP per capita PPP), Tunisia ranks 114th at $14,521, while Turkey ranks 51st at $45,123.

Tunisia
GDP per capita

GDP per capita, PPP
Turkey
GDP per capita

GDP per capita, PPP
Year Current $
Tunisia Turkey
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 - - $267.1 -
1961 $200.7 - $274.4 -
1962 $201.4 - $298.2 -
1963 $231.9 - $337 -
1964 $228.5 - $354 -
1965 $217.3 - $370 -
1966 $223.8 - $425 -
1967 $228 - $459 -
1968 $248.9 - $501 -
1969 $257.7 - $544 -
1970 $280.5 - $488 -
1971 $320 - $431 -
1972 $415 - $537 -
1973 $493 - $661 -
1974 $624 - $881 -
1975 $741 - $1,122 -
1976 $752 - $1,228 -
1977 $830 - $1,372 -
1978 $946 - $1,510 -
1979 $1,113 - $2,013 -
1980 $1,324 - $1,516 -
1981 $1,247 - $1,537 -
1982 $1,177 - $1,360 -
1983 $1,184 - $1,276 -
1984 $1,143 - $1,209 -
1985 $1,135 - $1,326 -
1986 $1,187 - $1,461 -
1987 $1,245 - $1,650 -
1988 $1,266 - $1,686 -
1989 $1,239 - $1,949 -
1990 $1,476 $3,780 $2,690 $8,201
1991 $1,538 $3,975 $2,649 $8,409
1992 $1,785 $4,292 $2,744 $8,963
1993 $1,649 $4,401 $3,058 $9,743
1994 $1,733 $4,555 $2,176 $9,247
1995 $1,968 $4,686 $3,846 $9,955
1996 $2,107 $5,040 $4,041 $10,621
1997 $2,202 $5,333 $4,197 $11,511
1998 $2,285 $5,579 $4,331 $8,762
1999 $2,376 $5,930 $3,974 $8,470
2000 $2,199 $6,279 $4,199 $9,324
2001 $2,236 $6,593 $3,052 $9,015
2002 $2,321 $6,715 $3,591 $9,154
2003 $2,726 $7,098 $4,650 $9,475
2004 $3,067 $7,672 $5,980 $10,761
2005 $3,147 $8,117 $7,332 $11,803
2006 $3,323 $8,729 $7,990 $13,558
2007 $3,727 $9,479 $9,767 $14,952
2008 $4,255 $9,975 $10,913 $16,142
2009 $4,080 $10,237 $9,077 $15,552
2010 $4,292 $10,555 $10,699 $17,468
2011 $4,421 $10,436 $11,374 $19,717
2012 $4,297 $10,615 $11,777 $20,739
2013 $4,370 $10,672 $12,636 $22,475
2014 $4,459 $10,947 $12,209 $24,193
2015 $4,015 $10,783 $11,065 $25,897
2016 $3,848 $10,994 $10,984 $26,731
2017 $3,619 $11,289 $10,756 $28,354
2018 $3,628 $11,841 $9,684 $28,640
2019 $3,529 $12,495 $9,395 $29,016
2020 $3,549 $11,918 $8,798 $29,209
2021 $3,907 $12,444 $9,982 $32,106
2022 $3,707 $13,619 $10,898 $39,919
2023 $3,951 $14,041 $13,375 $43,196
2024 $4,181 $14,521 $15,893 $45,123

Spending and national debt comparison

In 2024, Tunisia's government spending was $17.3B, accounting for 31.8% of its GDP, while Turkey's spent $461B, or 32% of GDP.

Debt-to-GDP ratio is 84.2% in Tunisia and 27.1% in Turkey, ranking 37/185 and 168/185, respectively.

Tunisia
Government spending

Government debt
Turkey
Government spending

Government debt
Year % of GDP
Tunisia Turkey
Government spending Government debt Government spending Government debt
1960 - - 15.6% 19.9%
1961 - - 22.9% 28.9%
1962 - - 15.7% 28.8%
1963 - - 17.5% 27.6%
1964 - - 18.9% 25.7%
1965 - - 19% 33.4%
1966 - - 18.9% 33.4%
1967 - - 20.1% 33.3%
1968 - - 19% 33.2%
1969 - - 20.5% 33.2%
1970 - - 22.7% 39.8%
1971 - - 24.8% 34.4%
1972 - - 21.9% 30.1%
1973 - - 21.8% 23.1%
1974 - - 19% 19%
1975 - - 22% 20.2%
1976 - - 23.3% 20.4%
1977 - - 27.8% 24%
1978 - - 27.6% 25.8%
1979 - - 28.3% 23.6%
1980 - - 25.5% 22.4%
1981 - - 24% 32%
1982 - - 19.2% 33.4%
1983 - - 14.9% 32.7%
1984 - - 14.1% 42.6%
1985 - - 18% 44.3%
1986 - - 12.1% 38.2%
1987 - - 13.3% 40.3%
1988 - - 12.9% 38.6%
1989 - - 13.8% 33.5%
1990 - - 14.1% 25.8%
1991 27.6% 63.3% 18.2% 28.4%
1992 25.7% 62.1% 18.6% 29.2%
1993 26.7% 63.8% 22% 29.1%
1994 25.9% 63.9% 20.5% 39.2%
1995 26.6% 65.6% 19.4% 34.6%
1996 26.7% 66.8% 24.5% 35.5%
1997 24.5% 66.6% 26.4% 32.5%
1998 24.2% 58.2% 27.9% 36.5%
1999 24% 61.9% 32.7% 52.1%
2000 24% 62.9% 39.5% 51.3%
2001 24% 52.2% 44% 75.5%
2002 24.1% 51.6% 41% 71.5%
2003 23.5% 52.6% 38.4% 65.2%
2004 23% 51.6% 34.6% 57.2%
2005 23% 50% 32.1% 50.2%
2006 22.9% 45.7% 33.6% 44.2%
2007 23.3% 42.7% 32.9% 37.8%
2008 23.7% 41.4% 33.7% 37.7%
2009 24.6% 40.3% 37.2% 43.2%
2010 24% 38.8% 35.5% 39.5%
2011 27.9% 43.3% 32.8% 35.9%
2012 28.3% 49% 34.1% 32.2%
2013 30.8% 45.6% 33.7% 30.9%
2014 27.7% 50.7% 32.6% 28.3%
2015 27.4% 52.4% 32.5% 27.2%
2016 27.2% 58.9% 33.8% 27.7%
2017 28.7% 67.1% 32.6% 27.8%
2018 28.7% 72.9% 34.3% 29.9%
2019 29.5% 67.3% 35.5% 32.4%
2020 34.5% 77.7% 34.7% 39.4%
2021 33.2% 79.7% 31.3% 40.4%
2022 36.5% 82.9% 27.3% 30.8%
2023 35.7% 82.5% 33.2% 29.3%
2024 33.8% 83.1% 33.9% 26%
2025 32.4% 82.9% 32.9% 26.7%
2026 31.8% 84.2% 32% 27.1%

Government deficit by year

In 2024, Tunisia's government deficit, the difference between spending and revenue, was -$3.04B, equivalent to -5.91% of GDP. This compares to Turkey's deficit of -$70.7B, or -5.2% of GDP.

Over the past 34 years, Tunisia recorded a fiscal deficit in 34 of those years, while Turkey ran a deficit in 34 years. On average, Tunisia posted an annual deficit equal to -4.05% of GDP, compared to deficit of -5.01% of GDP for Turkey.

Deficit/surplus
Tunisia

Turkey
Year Deficit/surplus, % of GDP
Tunisia Turkey
1936 - 1.43%
1937 - 1.43%
1938 - 1.18%
1939 - 1.18%
1940 - 1.18%
1941 - 1.18%
1942 - 1.18%
1943 - 0.22%
1944 - 0.22%
1945 - 1.01%
1946 - 1.01%
1947 - 1.01%
1948 - 0.84%
1949 - 0.81%
1950 - -0.53%
1951 - 0.48%
1952 - -0.1%
1953 - -0.12%
1954 - -1.12%
1955 - -0.85%
1956 - -0.84%
1957 - -0.66%
1958 - -0.45%
1959 - -0.78%
1960 - -0.83%
1961 - -1%
1962 - -0.16%
1963 - 0%
1964 - -0.84%
1965 - -1.18%
1966 - -0.66%
1967 - 0.1%
1968 - -0.62%
1969 - -1.45%
1970 - 0.14%
1971 - -3.05%
1972 - -0.13%
1973 - -0.98%
1974 - -1.02%
1975 - -0.19%
1976 - -0.6%
1977 - -5.1%
1978 - -1.83%
1979 - -3.06%
1980 - -3.67%
1981 - -1.5%
1982 - -1.61%
1983 - -1.45%
1984 - -3.77%
1985 - -5.84%
1986 - -2.43%
1987 - -3.47%
1988 - -3.2%
1989 - -3.87%
1990 - -3.65%
1991 -5.25% -6.86%
1992 -3.45% -6.73%
1993 -3.22% -8.84%
1994 -2.87% -6.04%
1995 -4.53% -5.95%
1996 -5.18% -10.7%
1997 -3.7% -10.1%
1998 -2.84% -9.84%
1999 -3.05% -13.8%
2000 -3.22% -8.37%
2001 -2.87% -11.7%
2002 -2.55% -11.3%
2003 -2.64% -7.57%
2004 -2.1% -4.12%
2005 -2.59% -0.75%
2006 -2.33% -0.22%
2007 -2.47% -1.38%
2008 -0.62% -2.14%
2009 -2.59% -5.18%
2010 -0.46% -3.02%
2011 -3.19% -0.35%
2012 -4.9% -1.79%
2013 -7.05% -1.21%
2014 -3.11% -0.97%
2015 -4.95% -0.51%
2016 -5.87% -1.68%
2017 -5.61% -1.88%
2018 -4.27% -3.13%
2019 -3.6% -4.78%
2020 -9.06% -4.72%
2021 -7.6% -3.05%
2022 -6.91% -1.12%
2023 -7.02% -5.32%
2024 -5.91% -5.2%
2025 -5.43% -4.33%
2026 -5.24% -3.39%

Inflation comparison by year

Over the past 28 years, Tunisia has recorded an average annual inflation rate of 4.52%, compared with 27.8% in Turkey. In 2024, inflation was 6.1% in Tunisia and 58.5% in Turkey.

Inflation
Tunisia

Turkey
Year Inflation
Tunisia Turkey
1997 3.6% 85.7%
1998 3.1% 84.6%
1999 2.8% 64.9%
2000 2.8% 54.9%
2001 1.9% 54.4%
2002 2.7% 45%
2003 2.7% 21.6%
2004 3.7% 8.6%
2005 2% 8.18%
2006 4.1% 9.6%
2007 3.4% 8.76%
2008 4.9% 10.4%
2009 3.5% 6.25%
2010 4.4% 8.57%
2011 3.2% 6.47%
2012 4.6% 8.89%
2013 5.3% 7.49%
2014 4.6% 8.85%
2015 4.4% 7.67%
2016 3.6% 7.78%
2017 5.3% 11.1%
2018 7.3% 16.3%
2019 6.7% 15.2%
2020 5.6% 12.3%
2021 5.7% 19.6%
2022 8.3% 72.3%
2023 9.3% 53.9%
2024 7% 58.5%
2025 5.9% -
2026 6.1% -

Top exports between countries

Tunisia
Export category Export value
Raw materials & minerals $204M
Machinery & equipment $61.3M
Chemicals & pharma $15M
Raw agricultural goods $12.2M
Metals $11.6M
Textiles & consumer goods $8.73M
Processed food, beverages & tobacco $7.8M
Animal & marine products $1.42M
Wood & paper products $132K
Precious metals & jewellery $111K
Turkey
Export category Export value
Textiles & consumer goods $283M
Machinery & equipment $248M
Metals $179M
Chemicals & pharma $120M
Raw materials & minerals $111M
Wood & paper products $62.7M
Processed food, beverages & tobacco $51M
Raw agricultural goods $48.3M
Miscellaneous $7.35M
Animal & marine products $2.76M

Balance of trade

Tunisia Turkey
Current account balance
-$775M
2024
-$10.2B
2024
Current account balance ranking
117/190
2024
176/190
2024
Current account balance, % of GDP
-1.51%
2024
-0.75%
2024
Goods imports
$18.7B
2024
$314B
2024
Goods exports
$8.95B
2024
$257B
2024
Service imports
$3.92B
2024
$53.3B
2024
Service exports
$11.2B
2024
$115B
2024
Imports of goods and services, % of GDP
56.3%
2024
27%
2024
Exports of goods and services, % of GDP
50%
2024
27.6%
2024

Economic freedom indices

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

Tunisia Turkey
Economic freedom 49.1 56.1
Economic freedom ranking 166/197 122/197
Property rights 59.3 40.6
Government integrity 41.3 34.3
Judicial effectiveness 39.7 23.8
Tax burden 79.4 72.2
Government spending 63.1 71.9
Fiscal health 6.4 82.3
Business freedom 56.8 58.5
Labor freedom 56 48.4
Monetary freedom 71.3 37.9
Trade freedom 56.2 72.8
Investment freedom 30 70
Financial freedom 30 60

Economic freedom by year comparison

The Economic Freedom Index for Tunisia is 49.1, ranking 166/197, compared to 56.1 for Turkey, ranking 122/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Tunisia
Turkey
Year Economic freedom index
Tunisia Turkey
1995 63.4 58.4
1996 63.9 56.7
1997 63.8 60.8
1998 63.9 60.9
1999 61.1 59.2
2000 61.3 63.4
2001 60.8 60.6
2002 60.2 54.2
2003 58.1 51.9
2004 58.4 52.8
2005 55.4 50.6
2006 57.5 57
2007 60.3 57.4
2008 60.1 59.9
2009 58 61.6
2010 58.9 63.8
2011 58.5 64.2
2012 58.6 62.5
2013 57 62.9
2014 57.3 64.9
2015 57.7 63.2
2016 57.6 62.1
2017 55.7 65.2
2018 58.9 65.4
2019 55.4 64.6
2020 55.8 64.4
2021 56.6 64
2022 54.2 56.9
2023 52.9 56.9
2024 48.8 56.2
2025 49.1 56.1

More economic indicators

Tunisia Turkey
Services, % of GDP
62.6%
2024
57.5%
2024
Industry, % of GDP
22.6%
2024
25.5%
2024
Agriculture, forestry, and fishing, % of GDP
9.74%
2024
5.82%
2024
GNI, Atlas method
$47.7B
2024
$1.15T
2024
GNI per capita, PPP
$14,230
2024
$44,600
2024
Total reserves including gold
$9.34B
2024
$155B
2024
Total reserves ranking
80/177
2024
21/177
2024
Net foreign direct investment
-$725M
2024
-$5.13B
2024
Net inflows of foreign direct investment
$760M
2024
$11.7B
2024
Net outflows of foreign direct investment
$34.6M
2024
$6.61B
2024
Servicing debt to the IMF, % of GNI
10.9%
2024
6.67%
2024
Poverty at national poverty lines
16.6%
2021
13.6%
2023
Gross capital formation, % of GDP
7.86%
2024
30.7%
2024

GDP per capita map

GDP per capita

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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.