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Economy of Albania vs Bahamas compared: GDP & Debt

Updated on by Georank team

Albania has a GDP of $27B compared to $15.8B for the Bahamas, ranking 112/197 and 140/197 by economy size, respectively.

Albania has $15.2B in government debt (56% of GDP), compared to $11.5B (72.5% of GDP) in the Bahamas.

Albania vs Bahamas GDP by year

Albania
Bahamas
1x
Year GDP, current $
Albania Bahamas
2024 $27,046,429,297 $15,832,800,000
2023 $23,491,242,727 $15,271,300,000
2022 $19,017,247,014 $13,896,800,000
2021 $18,031,989,573 $12,037,000,000
2020 $15,241,458,745 $10,363,200,000
2019 $15,585,111,614 $13,277,000,000
2018 $15,379,508,330 $12,819,200,000
2017 $13,258,268,436 $12,446,900,000
2016 $11,988,668,785 $11,880,900,000
2015 $11,470,171,827 $11,837,600,000
2014 $13,296,322,588 $11,139,100,000
2013 $12,796,985,886 $10,475,300,000
2012 $12,246,499,748 $10,720,400,000
2011 $12,973,755,875 $10,070,450,000
2010 $12,086,545,641 $10,095,760,000
2009 $12,335,540,656 $9,981,960,000
2008 $13,258,506,375 $10,526,000,000
2007 $11,116,937,870 $10,618,340,000
2006 $9,150,528,132 $10,167,250,000
2005 $8,256,658,250 $9,836,200,000
2004 $7,406,645,793 $9,055,290,000
2003 $5,801,712,040 $8,870,090,000
2002 $4,515,003,117 $8,881,160,000
2001 $4,059,064,033 $8,317,830,000
2000 $3,584,570,165 $8,076,470,000
1999 $3,283,941,510 $7,683,870,000
1998 $2,600,356,999 $6,833,220,000
1997 $2,293,666,030 $6,332,360,000
1996 $3,234,486,232 $3,609,000,000
1995 $2,905,092,799 $3,429,000,000
1994 $1,880,950,864 $3,259,000,000
1993 $1,185,315,468 $3,092,000,000
1992 $652,174,991 $3,109,000,000
1991 $1,099,559,028 $3,111,160,000
1990 $2,028,553,750 $3,166,000,000
1989 $2,253,090,000 $3,062,000,000
1988 $2,051,236,250 $2,817,900,000
1987 $2,080,796,250 $2,713,999,900
1986 $2,097,326,250 $2,472,500,000
1985 $1,897,050,117 $2,320,699,900
1984 $1,857,337,995 $2,041,100,000
1983 $1,881,412,587 $1,732,800,000
1982 $1,861,163,170 $1,578,300,000
1981 $1,808,177,156 $1,426,500,000
1980 $1,578,102,105 $1,335,300,000
1979 - $1,139,800,100
1978 - $832,400,000
1977 - $713,000,000
1976 - $642,100,000
1975 - $596,200,000
1974 - $632,400,000
1973 - $670,900,000
1972 - $590,900,000
1971 - $573,400,000
1970 - $539,500,000
1969 - $538,700,000
1968 - $453,800,000
1967 - $398,000,000
1966 - $346,800,000
1965 - $300,272,048
1964 - $266,560,043
1963 - $237,650,038
1962 - $212,170,034
1961 - $190,022,030
1960 - $169,736,027

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/albania/bahamas | CC BY

GDP per capita in Albania vs Bahamas by year

Albania
GDP per capita

GDP per capita, PPP
Bahamas
GDP per capita

GDP per capita, PPP
1x
Year Current $
Albania Bahamas
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $11,378 $26,702 $39,455 $41,198
2023 $9,731 $24,822 $38,232 $39,090
2022 $7,757 $22,138 $34,957 $36,791
2021 $7,242 $18,213 $30,368 $31,065
2020 $6,028 $16,288 $26,179 $27,205
2019 $6,069 $16,442 $33,640 $36,116
2018 $5,898 $15,055 $32,642 $35,228
2017 $5,006 $14,111 $31,875 $34,282
2016 $4,458 $13,056 $30,617 $32,285
2015 $4,200 $12,387 $30,719 $32,138
2014 $4,794 $11,788 $29,137 $31,726
2013 $4,543 $10,882 $27,643 $30,294
2012 $4,281 $10,609 $28,552 $31,036
2011 $4,466 $10,273 $27,091 $30,074
2010 $4,149 $9,755 $27,473 $29,625
2009 $4,214 $9,031 $27,513 $29,197
2008 $4,499 $8,469 $29,392 $30,679
2007 $3,743 $7,585 $30,052 $31,232
2006 $3,058 $6,753 $29,185 $30,402
2005 $2,742 $6,014 $28,602 $29,143
2004 $2,447 $5,595 $26,650 $27,660
2003 $1,909 $5,169 $26,429 $27,031
2002 $1,480 $4,840 $26,782 $27,171
2001 $1,326 $4,451 $25,372 $26,351
2000 $1,160 $3,978 $24,940 $25,422
1999 $1,056 $3,549 $24,041 $24,184
1998 $831 $3,086 $21,667 $22,556
1997 $729 $2,760 $20,368 $21,606
1996 $1,021 $3,054 $11,784 $21,287
1995 $911 $2,777 $11,375 $20,377
1994 $586 $2,385 $10,991 $19,441
1993 $367 $2,143 $10,613 $18,781
1992 $200.9 $1,899 $10,873 $18,636
1991 $337 $1,989 $11,082 $19,296
1990 $617 $2,656 $11,473 $19,817
1989 $698 - $11,291 -
1988 $653 - $10,576 -
1987 $675 - $10,361 -
1986 $694 - $9,601 -
1985 $640 - $9,167 -
1984 $639 - $8,202 -
1983 $662 - $7,081 -
1982 $668 - $6,559 -
1981 $663 - $6,029 -
1980 $591 - $5,743 -
1979 - - $4,994 -
1978 - - $3,720 -
1977 - - $3,253 -
1976 - - $2,993 -
1975 - - $2,841 -
1974 - - $3,080 -
1973 - - $3,341 -
1972 - - $3,014 -
1971 - - $3,004 -
1970 - - $2,916 -
1969 - - $3,027 -
1968 - - $2,668 -
1967 - - $2,453 -
1966 - - $2,239 -
1965 - - $2,030 -
1964 - - $1,883 -
1963 - - $1,759 -
1962 - - $1,651 -
1961 - - $1,555 -
1960 - - $1,459 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/albania/bahamas | CC BY

Albania's GDP per capita is $11,378, ranking 82/197, compared to $39,455 in the Bahamas, ranking 30/197. Adjusted for purchasing power (GDP per capita PPP), Albania ranks 79th at $26,702, while the Bahamas ranks 57th at $41,198.

Economic indicators

Albania Bahamas
Gross domestic product
$27B
2024
$15.8B
2024
GDP rank
112/197
2024
140/197
2024
GDP growth
4.05%
2023-2024
3.38%
2023-2024
GDP per capita
$11,378
2024
$39,455
2024
GDP per capita rank
82/197
2024
30/197
2024
GDP per capita, PPP
$26,702
2024
$41,198
2024
GDP per capita PPP rank
79/197
2024
57/197
2024
Government debt
$15.2B
2024
$11.5B
2024
Debt-to-GDP ratio
56%
2024
72.5%
2024
Government debt per person
$6,375
2024
$28,616
2024
Government debt per person rank
72/185
2024
25/185
2024
Average annual personal income after taxes
$9,075
2026
$29,535
2026
Number of billionaires
1
2025
n/a
Income share by richest 10%
22.8%
2020
n/a
Income share by poorest 10%
3.4%
2020
n/a
Government expenditure, % of GDP
28.9%
2024
20.6%
2024
Consumer prices inflation
2.2%
2023-2024
0.41%
2023-2024
Central bank interest rate
2.5%
2025
4%
2016
Unemployment rate
10.7%
2023
8.65%
2023
Population
2342753
405203

Spending and national debt comparison by year

Albania
Spending

Debt
Bahamas
Spending

Debt
1x
Year % of GDP
Albania Bahamas
Government spending Government debt Government spending Government debt
2024 28.9% 56% 20.6% 72.5%
2023 28.5% 58% 22.2% 74.8%
2022 30.3% 65.2% 23.9% 79.1%
2021 31.9% 74.8% 26.9% 84.5%
2020 32.4% 75.4% 28.2% 81.9%
2019 28.8% 66.6% 19.9% 59.3%
2018 28.7% 68.5% 19.2% 60.6%
2017 29.2% 71.9% 22.5% 53.4%
2016 29.1% 73.3% 19.4% 51%
2015 30.8% 73.7% 17.9% 48.5%
2014 31.7% 72% 17.6% 46.3%
2013 29.2% 70.4% 18.4% 44.8%
2012 28.2% 62.1% 16.5% 36.4%
2011 28.9% 59.4% 17.1% 35.3%
2010 29.4% 57.7% 15.3% 33.7%
2009 32.7% 59.7% 15.6% 30.9%
2008 31.7% 55.1% 14.4% 25.5%
2007 29.3% 53.6% 13.3% 23%
2006 29.2% 56.7% 13% 22.8%
2005 28.9% 58.2% 12.3% 22%
2004 30.2% 57.5% 12.4% 21.4%
2003 29.7% 60.2% 11.8% 20.9%
2002 31.5% 64.1% 11.3% 18.8%
2001 32.7% 60.6% 11.2% 18.2%
2000 33.8% 63.8% 11.3% 18.7%
1999 37.1% 68.2% 8.78% 18.7%
1998 36.8% 71.2% 11.6% 20%
1997 30.3% 72.2% 12.5% 20.8%
1996 - - 11.2% 20.2%
1995 - - 11.2% 20.5%
1994 - - 11.4% 20.4%
1993 - - 11.5% 19.8%
1992 - - 11.8% 17.9%
1991 - - 12% 15.4%
1990 - - 11.4% 13.2%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/albania/bahamas | CC BY

In 2024, Albania's government spending was $7.83B, accounting for 28.9% of its GDP, while the Bahamas spent $3.26B, or 20.6% of GDP.

Debt-to-GDP ratio is 56% in Albania and 72.5% in the Bahamas, ranking 94/185 and 53/185, respectively.

Government deficit by year

Deficit/surplus
Albania

Bahamas
1x
Year Deficit/surplus, % of GDP
Albania Bahamas
2024 -0.72% -1.18%
2023 -1.32% -3.49%
2022 -3.64% -5.16%
2021 -4.57% -11.1%
2020 -6.67% -8.09%
2019 -1.92% -1.65%
2018 -1.6% -3.24%
2017 -1.41% -5.92%
2016 -1.5% -2.61%
2015 -4.32% -3.24%
2014 -5.46% -4.38%
2013 -5.22% -5.16%
2012 -3.44% -3.15%
2011 -3.52% -2.87%
2010 -3.52% -2.56%
2009 -6.59% -2.45%
2008 -4.88% -0.83%
2007 -3.18% -0.76%
2006 -3.26% -0.43%
2005 -3.46% -1.11%
2004 -5.16% -1.93%
2003 -5.01% -1.63%
2002 -6.21% -1.62%
2001 -6.84% 0.3%
2000 -7.77% 0.09%
1999 -8.84% 1.68%
1998 -9.93% -0.41%
1997 -11.9% -1.56%
1996 - -0.15%
1995 - 0.18%
1994 - -0.39%
1993 - -1.05%
1992 - -2.23%
1991 - -2.29%
1990 - -2.64%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/albania/bahamas | CC BY

In 2024, Albania's government deficit, the difference between spending and revenue, was $196M, equivalent to 0.72% of GDP. This compares to the Bahamas' deficit of $187M, or 1.18% of GDP.

Over the past 28 years, Albania recorded a fiscal deficit in 28 of those years, while the Bahamas ran a deficit in 25 years. On average, Albania posted an annual deficit equal to 4.71% of GDP, compared to deficit of 2.66% of GDP for the Bahamas.

Inflation comparison by year

Inflation
Albania

Bahamas
1x
Year Consumer prices inflation
Albania Bahamas
2024 2.2% 0.41%
2023 4.8% 3.05%
2022 6.7% 5.61%
2021 2% 2.9%
2020 1.6% 0.04%
2019 1.4% 2.49%
2018 2% 2.27%
2017 2% 1.52%
2016 1.3% -0.35%
2015 1.9% 1.86%
2014 1.6% 1.51%
2013 1.9% 0.72%
2012 2% 1.97%
2011 3.4% 3.2%
2010 3.6% 1.34%
2009 2.2% 2.06%
2008 3.3% 4.49%
2007 3% 2.49%
2006 2.4% 2.39%
2005 2.4% 1.59%
2004 2.9% 0.98%
2003 2.4% 3.03%
2002 5.2% 2.17%
2001 3.1% 2.04%
2000 0% 1.61%
1999 0.4% 1.25%
1998 20.6% 1.34%
1997 33.2% 0.54%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/albania/bahamas | CC BY

Over the past 28 years, Albania has recorded an average annual inflation rate of 4.27%, compared with 1.95% in the Bahamas. In 2024, inflation was 2.2% in Albania and 0.41% in the Bahamas.

Top exports between countries

Albania
Export category Export value
Textiles & consumer goods $235K
Bahamas
Export category Export value

Balance of trade

Albania Bahamas
Current account balance
-$648M
2024
-$1.05B
2024
Current account balance ranking
112/190
2024
127/190
2024
Current account balance, % of GDP
-2.4%
2024
-6.65%
2024
Goods imports
$7.87B
2024
$4.6B
2024
Goods exports
$1.82B
2024
$874M
2024
Service imports
$3.83B
2024
$2.47B
2024
Service exports
$8.03B
2024
$5.9B
2024
Imports of goods and services, % of GDP
43.2%
2024
41.5%
2024
Exports of goods and services, % of GDP
36.3%
2024
37.8%
2024

Economic freedom indices

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

Albania Bahamas
Economic freedom 68 65.1
Economic freedom ranking 50/197 66/197
Property rights 57.6 62.7
Government integrity 41.9 67.1
Judicial effectiveness 59.9 79.8
Tax burden 89.3 96.1
Government spending 74.3 83.8
Fiscal health 88 9.1
Business freedom 76.6 69.4
Labor freedom 46.2 66.5
Monetary freedom 78.6 77.2
Trade freedom 83 59.4
Investment freedom 60 50
Financial freedom 60 60

Economic freedom comparison by year

Albania
Bahamas
1x
Year Economic freedom index
Albania Bahamas
2026 68 65.1
2025 66.6 63.2
2024 64.8 62.5
2023 65.3 62.6
2022 66.6 68.7
2021 65.2 64.6
2020 66.9 64.5
2019 66.5 62.9
2018 64.5 63.3
2017 64.4 61.1
2016 65.9 70.9
2015 65.7 68.7
2014 66.9 69.8
2013 65.2 70.1
2012 65.1 68
2011 64 68
2010 66 67.3
2009 63.7 70.3
2008 62.4 71.1
2007 61.4 72
2006 60.3 72.3
2005 57.8 72.6
2004 58.5 72.1
2003 56.8 73.5
2002 56.8 74.4
2001 56.6 74.8
2000 53.6 73.9
1999 53.4 74.7
1998 53.9 74.5
1997 54.8 74.5
1996 53.8 74
1995 49.7 71.8

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/albania/bahamas | CC BY

The Economic Freedom Index for Albania is 68, ranking 50/197, compared to 65.1 for the Bahamas, ranking 66/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Albania Bahamas
Services, % of GDP
48.7%
2024
77.2%
2024
Industry, % of GDP
22.4%
2024
9.63%
2024
Agriculture, forestry, and fishing, % of GDP
15.5%
2024
0.51%
2024
GNI, Atlas method
$23.6B
2024
$14.9B
2024
GNI per capita, PPP
$26,500
2024
$39,550
2024
Total reserves including gold
$6.52B
2024
$2.51B
2023
Total reserves ranking
89/177
2024
122/177
2023
Net foreign direct investment
-$1.45B
2024
-$77.6M
2024
Net inflows of foreign direct investment
$1.71B
2024
$241M
2024
Net outflows of foreign direct investment
$261M
2024
$163M
2024
Servicing debt to the IMF, % of GNI
3.25%
2024
n/a
Poverty at national poverty lines
19.7%
2022
9.3%
2020
Gross capital formation, % of GDP
25%
2024
26.8%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/albania/bahamas | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  6. LivingCost (2026, retrieved 2025-10-14)
  7. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)
  8. TradeMap (2024, retrieved 2026-02-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

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.