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Frontier Markets Countries by Nominal GDP
listGDP 2026 USD bn
Saudi Arabia1122.465
Argentina715.376
Vietnam518.999
Bangladesh513.121
Romania424.375
Kazakhstan325.095
Ukraine220.408
Nigeria192.337
Morocco176.587
Kuwait155.958
Slovak Republic154.958
Dominican Republic135.112
Guatemala131.178
Ecuador130.310
Kenya127.968
Bulgaria123.066
Angola109.384
Costa Rica108.600
Oman107.339
Croatia104.903
Serbia99.945
Panama97.249
Lithuania94.182
Tanzania93.523
Uruguay85.164
Democratic Republic of the Congo84.848
Azerbaijan81.872
Slovenia79.019
Bolivia65.851
Cameroon60.213
Jordan59.230
Tunisia57.875
Latvia48.353
Paraguay48.088
Estonia47.816
El Salvador38.476
Senegal36.784
Zambia34.237
Burkina Faso29.624
Mongolia27.981
Armenia26.681
Benin24.067
Madagascar20.099
Togo10.760
Barbados7.942
Suriname4.685
Lebanon
Pakistan

GDP Rankings PPP (current international dollar bn)

listPPP GDP 2026 (current int. dollar bn)
Saudi Arabia2363.591
Bangladesh1941.399
Vietnam1899.100
Pakistan1769.110
Nigeria1663.725
Argentina1595.046
Romania973.140
Kazakhstan963.609
Ukraine736.871
Morocco450.421
Kenya430.835
Angola419.474
Dominican Republic359.869
Tanzania318.892
Ecuador313.172
Guatemala299.997
Azerbaijan284.991
Bulgaria277.659
Kuwait274.527
Slovak Republic267.116
Oman244.822
Serbia230.301
Democratic Republic of the Congo215.755
Panama212.706
Croatia208.146
Tunisia190.400
Cameroon183.857
Costa Rica178.660
Lithuania173.215
Bolivia148.572
Paraguay144.304
Jordan138.457
Uruguay136.515
Slovenia129.178
Senegal112.138
Zambia107.138
El Salvador92.481
Latvia87.182
Armenia79.334
Mongolia79.298
Burkina Faso77.781
Benin75.422
Estonia70.998
Madagascar68.407
Togo35.626
Suriname15.625
Barbados7.092
Lebanon

GDP Rankings (PPP) share of world total Percent

listPPP GDP 2026 Share in World Total Pct
Saudi Arabia1.086
Bangladesh0.892
Vietnam0.873
Pakistan0.813
Nigeria0.765
Argentina0.733
Romania0.447
Kazakhstan0.443
Ukraine0.339
Morocco0.207
Kenya0.198
Angola0.193
Dominican Republic0.165
Tanzania0.147
Ecuador0.144
Guatemala0.138
Azerbaijan0.131
Bulgaria0.128
Kuwait0.126
Slovak Republic0.123
Oman0.113
Serbia0.106
Democratic Republic of the Congo0.099
Panama0.098
Croatia0.096
Tunisia0.088
Cameroon0.084
Costa Rica0.082
Lithuania0.080
Bolivia0.068
Paraguay0.066
Jordan0.064
Uruguay0.063
Slovenia0.059
Senegal0.052
Zambia0.049
El Salvador0.043
Latvia0.040
Mongolia0.036
Armenia0.036
Burkina Faso0.036
Benin0.035
Estonia0.033
Madagascar0.031
Togo0.016
Suriname0.007
Barbados0.003
Lebanon

GDP Rankings per capita nominal USD

listGDP Per Capita USD
Slovenia37112.842
Estonia34848.195
Lithuania32556.704
Saudi Arabia30562.895
Kuwait29911.412
Slovak Republic28663.352
Croatia27231.499
Barbados27170.227
Latvia25934.839
Uruguay24191.019
Romania22676.108
Panama21045.024
Costa Rica20035.570
Bulgaria19657.988
Oman18904.488
Kazakhstan15808.717
Serbia15415.793
Argentina14882.507
Dominican Republic12311.255
Armenia8998.983
Azerbaijan7800.223
Mongolia7723.604
Guatemala7157.813
Ecuador7142.693
Suriname7022.923
Paraguay6816.586
Ukraine6602.446
El Salvador5964.196
Bolivia5211.685
Jordan5143.687
Vietnam5041.887
Morocco4640.915
Tunisia4621.624
Bangladesh2925.047
Angola2689.386
Kenya2358.027
Cameroon1957.553
Senegal1867.240
Benin1610.355
Zambia1536.250
Tanzania1351.937
Burkina Faso1181.431
Togo1104.168
Nigeria804.512
Democratic Republic of the Congo771.206
Madagascar621.889
Lebanon
Pakistan

GDP Rankings Average per capita PPP

listGDP Per Capita PPP (current int. dollar)
Saudi Arabia53973.393
Slovenia50882.588
Lithuania50216.144
Croatia45314.300
Kuwait44156.956
Romania43609.429
Estonia43395.234
Slovak Republic41437.988
Kazakhstan39298.262
Latvia39216.831
Panama38603.898
Bulgaria37196.238
Oman36161.256
Uruguay32520.842
Serbia29791.167
Argentina27829.202
Costa Rica27643.035
Dominican Republic27500.327
Azerbaijan22771.440
Armenia22440.680
Barbados20348.121
Suriname19643.408
Ukraine18512.087
Mongolia18357.060
Paraguay17154.993
Vietnam15472.492
Ecuador14396.395
Guatemala13728.431
Tunisia12751.295
El Salvador12022.596
Jordan10084.070
Morocco9927.725
Bolivia9861.328
Bangladesh9281.401
Angola8649.487
Kenya6658.000
Pakistan6050.554
Nigeria5836.293
Cameroon5012.947
Senegal4773.965
Benin4232.321
Zambia4031.793
Tanzania3866.052
Togo3066.001
Burkina Faso2601.525
Madagascar1775.136
Democratic Republic of the Congo1644.655
Lebanon

Population Rankings

listCombined Population mln
Pakistan245.214
Nigeria239.073
Bangladesh175.423
Democratic Republic of the Congo110.020
Vietnam102.937
Tanzania69.177
Kenya54.269
Argentina48.068
Angola40.672
Morocco38.050
Saudi Arabia36.726
Ukraine33.383
Madagascar32.319
Cameroon30.759
Burkina Faso25.074
Zambia22.286
Kazakhstan20.564
Senegal19.700
Romania18.715
Guatemala18.327
Ecuador18.244
Benin14.945
Bolivia12.635
Tunisia12.523
Jordan11.515
Dominican Republic10.975
Azerbaijan10.496
Togo9.745
Paraguay7.055
Serbia6.483
El Salvador6.451
Bulgaria6.260
Oman5.678
Costa Rica5.420
Slovak Republic5.406
Kuwait5.214
Panama4.621
Croatia3.852
Mongolia3.623
Uruguay3.520
Armenia2.965
Lithuania2.893
Slovenia2.129
Latvia1.864
Estonia1.372
Suriname0.667
Barbados0.292
Lebanon

Debt vs. GDP Rankings (Avg)

listGeneral government gross debt Percent of GDP
Senegal110.553
Ukraine108.478
Barbados92.540
Bolivia92.497
Jordan88.621
El Salvador86.503
Tunisia84.188
Suriname81.145
Pakistan71.914
Kenya70.241
Uruguay68.281
Argentina68.233
Morocco67.698
Togo67.675
Slovenia66.682
Romania65.654
Slovak Republic64.260
Angola63.944
Costa Rica58.982
Panama58.272
Dominican Republic57.081
Armenia56.204
Croatia55.465
Madagascar52.517
Nigeria51.596
Benin51.242
Burkina Faso49.769
Latvia48.310
Tanzania45.794
Lithuania45.298
Serbia44.144
Mongolia43.318
Paraguay42.676
Bangladesh40.718
Cameroon38.561
Saudi Arabia38.531
Vietnam34.856
Oman33.915
Bulgaria29.536
Kazakhstan27.879
Guatemala27.684
Estonia27.298
Azerbaijan22.183
Democratic Republic of the Congo13.836
Kuwait10.770
Lebanon
Ecuador
Zambia

Frontier Markets

  • Frontier markets in mid-2026 show cautious investor interest driven by yield-seeking amid global policy uncertainty and slower growth in emerging markets. Key drivers include selective fiscal reforms in Sub-Saharan Africa and infrastructure investments in Southeast Asia. However, risks remain elevated due to geopolitical tensions, commodity price volatility, and capital flow reversals linked to possible monetary tightening in advanced economies. Liquidity constraints and governance concerns continue to temper enthusiasm despite pockets of economic resilience.
  • IMF World Economic Outlook: Frontier Markets Update July 2026
  • African Development Bank Frontier Market Economic Report August 2026
  • J.P. Morgan Frontier Market Sovereign Debt Outlook Q3 2026
  • Fitch Ratings: Credit Profiles and Risks in Frontier Economies, June 2026
  • Reuters Coverage: Southeast Asia Infrastructure Boost Lifts Select Frontier Markets July 2026
  • The most recent major frontier markets meeting, held in July 2026 under the aegis of the Frontier Markets Investors Forum, emphasized sustainable infrastructure funding as the key driver for growth amid slowing global demand. Consensus highlighted the critical role of enhanced digital finance and ESG-linked capital flows. However, investors remain cautious due to heightened geopolitical tensions in Sub-Saharan Africa and currency volatility risks that could amplify financing costs and hamper capital inflows.
  • Frontier Markets Investors Forum 2026 Report
  • World Bank: Frontier Markets Outlook July 2026
  • IMF Staff Statement on Frontier Markets Funding Challenges, Aug 2026
  • Bloomberg: Investors Eye Digital Finance Push in Frontier Economies
  • Frontier markets negotiations in 3Q 2026 have focused on debt restructuring frameworks and enhanced trade facilitation agreements, driven primarily by liquidity constraints and investor caution amid tightening global financial conditions. Key efforts involve IMF-supported debt dialogues and regional trade blocs aiming to boost market access. However, uncertainties remain high due to geopolitical instability in critical frontier economies and potential delays in policy reforms, which may impede capital inflows and sustainable growth prospects.
  • IMF Updates on Frontier Debt Restructuring Talks - August 2026
  • World Bank Report Highlights Trade Negotiation Progress in Frontier Markets, July 2026
  • Frontier Economies Seek Investor Confidence Amid Tough Financing Conditions - Reuters, Sept 2, 2026
  • Regional Trade Pact Talks Gain Momentum in Frontier African Markets - Bloomberg, August 2026
  • Geopolitical Risks Cloud Frontier Market Negotiation Outcomes - Financial Times, July 28, 2026
  • Frontier markets are attracting increased attention in 3Q 2026 as investors seek higher growth amid slowing developed economies. Key drivers include improving digital infrastructure in Vietnam and Nigeria’s easing political tensions supporting stabilization. However, currency volatility and limited fiscal space remain significant risks, especially for countries reliant on commodity exports facing potential global demand shocks. Recent inflows are cautious, emphasizing selective exposure to sovereigns with credible reform agendas and improving macro fundamentals.
  • Frontier Markets Outlook: Q3 2026 Update
    • Angola
    		Mongolia
    		Lebanon
    		Bangladesh
    Sri Lanca
    		Croatia
    		Bahrein
    		Mauritus
    Jordan
    		Tunisia
    		Estonia
    		Serbia
    Ukraine
    		Bulgaria
    		Lithuania
    		Kuwait
    Nigeria
    		Argentina
    		Pakistan
    		Morocco
    Kenya
    		Oman
    		Kazakhstan
    		Vietnam
    Slovenia
    		Romania
    		Saudi Arabia
    		Armenia
    Azerbaijan
    		Barbados
    		Benin
    		Bolivia
    Burkina Faso
    		Cameroon
    		Costa Rica
    		Ivory Coast
    Democratic Republic of the Congo
    		Dominican Republic
    		Ecuador
    		El Salvador
    Guatemala
    		Latvia
    		Madagascar
    		Panama
    Paraguay
    		Senegal
    		Slovak Republic
    		Suriname
    Tanzania
    		Togo
    		Uruguay
    		Zambia

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    GDP Rankings per capita nominal USD

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    GDP Rankings Average per capita PPP

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    GDP Growth Rankings %

    list2026 GDP Growth
    Zambia6.817
    Bangladesh6.530
    Tanzania6.294
    Benin6.186
    Mongolia5.899
    Togo5.500
    Democratic Republic of the Congo5.171
    Kenya4.889
    Dominican Republic4.788
    Burkina Faso4.528
    Argentina4.520
    Ukraine4.500
    Armenia4.500
    Kazakhstan4.257
    Serbia4.234
    Madagascar4.206
    Senegal4.089
    Vietnam4.047
    Cameroon4.018
    Panama4.000
    Guatemala3.800
    Morocco3.746
    Saudi Arabia3.742
    Suriname3.718
    Oman3.645
    Pakistan3.553
    Paraguay3.500
    Costa Rica3.434
    Kuwait3.129
    Jordan2.900
    Romania2.759
    Croatia2.737
    Nigeria2.725
    Bulgaria2.653
    Uruguay2.600
    El Salvador2.515
    Azerbaijan2.498
    Latvia2.482
    Lithuania2.459
    Slovenia2.400
    Barbados2.300
    Ecuador2.117
    Angola2.076
    Estonia1.825
    Slovak Republic1.706
    Tunisia1.417
    Bolivia0.900
    Lebanon

    Investment to GDP

    listInvestment levels to GDP
    Suriname46.558
    Panama44.185
    Tanzania39.033
    Benin37.930
    Angola35.970
    Zambia32.407
    Mongolia32.274
    Saudi Arabia32.211
    Nigeria31.419
    Vietnam29.686
    Bangladesh29.540
    Romania28.776
    Morocco28.255
    Estonia27.837
    Oman27.300
    Kazakhstan26.872
    Togo26.784
    Senegal26.318
    Dominican Republic24.966
    Serbia24.376
    Madagascar24.244
    Croatia23.058
    Paraguay22.925
    Cameroon22.726
    Lithuania21.797
    El Salvador21.748
    Ecuador21.690
    Latvia21.637
    Slovenia21.502
    Bulgaria20.115
    Ukraine20.032
    Slovak Republic19.762
    Armenia19.557
    Jordan18.913
    Kenya18.082
    Burkina Faso17.473
    Guatemala16.666
    Barbados16.431
    Azerbaijan16.353
    Kuwait16.000
    Costa Rica15.448
    Uruguay15.117
    Democratic Republic of the Congo14.781
    Argentina14.775
    Pakistan14.293
    Bolivia13.696
    Tunisia10.297
    Lebanon

    Budget Balance/GDP

    listBudget Balance/GDP
    Argentina1.799
    Suriname0.994
    Barbados0.155
    Mongolia
    Lebanon
    Bangladesh
    Ukraine
    Kuwait
    Nigeria
    Pakistan
    Kenya
    Oman
    Vietnam
    Saudi Arabia
    Armenia
    Azerbaijan
    Benin
    Bolivia
    Burkina Faso
    Cameroon
    Democratic Republic of the Congo
    Ecuador
    Madagascar
    Senegal
    Tanzania
    Togo
    Zambia
    Paraguay-1.364
    El Salvador-1.924
    Slovenia-2.310
    Bulgaria-2.342
    Estonia-2.384
    Croatia-2.503
    Lithuania-2.608
    Guatemala-2.621
    Uruguay-2.679
    Costa Rica-2.861
    Latvia-2.869
    Serbia-2.970
    Kazakhstan-3.479
    Morocco-3.488
    Panama-3.497
    Dominican Republic-3.992
    Tunisia-4.060
    Angola-4.146
    Slovak Republic-4.710
    Jordan-5.895
    Romania-7.335

    Average Current Account Balance/GDP

    listCurrent Account Balance/GDP
    Kuwait19.324
    Nigeria5.186
    Azerbaijan4.146
    Slovenia3.322
    Ecuador2.641
    Zambia2.567
    Vietnam1.880
    Lithuania1.720
    Guatemala1.466
    Angola1.448
    Lebanon
    Argentina-0.285
    Pakistan-0.363
    Croatia-0.648
    El Salvador-0.831
    Bangladesh-0.906
    Bulgaria-0.964
    Slovak Republic-1.547
    Uruguay-1.662
    Panama-1.770
    Costa Rica-1.912
    Burkina Faso-2.033
    Morocco-2.245
    Estonia-2.362
    Latvia-2.445
    Democratic Republic of the Congo-2.459
    Oman-2.520
    Paraguay-2.711
    Tanzania-2.866
    Bolivia-3.030
    Togo-3.031
    Tunisia-3.121
    Dominican Republic-3.397
    Kazakhstan-3.669
    Cameroon-3.854
    Kenya-4.205
    Saudi Arabia-4.251
    Armenia-4.826
    Benin-5.342
    Serbia-5.733
    Jordan-5.825
    Barbados-6.044
    Senegal-6.164
    Madagascar-6.569
    Romania-7.409
    Mongolia-10.158
    Ukraine-10.568
    Suriname-60.388