Skip to content

Economy of Bahamas vs Barbados compared: GDP & Debt

Updated on by Georank team

The Bahamas has a GDP of $15.8B compared to $7.5B for Barbados, ranking 140/197 and 157/197 by economy size, respectively.

The Bahamas has $11.5B in government debt (72.5% of GDP), compared to $7.97B (106.3% of GDP) in Barbados.

Bahamas vs Barbados GDP by year

Bahamas
Barbados
1x
Year GDP, current $
Bahamas Barbados
2024 $15,832,800,000 $7,498,050,000
2023 $15,271,300,000 $7,223,250,000
2022 $13,896,800,000 $6,884,900,000
2021 $12,037,000,000 $5,947,550,000
2020 $10,363,200,000 $5,407,050,000
2019 $13,277,000,000 $6,161,850,000
2018 $12,819,200,000 $6,001,950,000
2017 $12,446,900,000 $5,683,150,000
2016 $11,880,900,000 $5,674,600,000
2015 $11,837,600,000 $5,698,150,000
2014 $11,139,100,000 $5,620,600,000
2013 $10,475,300,000 $5,667,200,000
2012 $10,720,400,000 $5,761,450,000
2011 $10,070,450,000 $5,663,100,000
2010 $10,095,760,000 $5,672,900,000
2009 $9,981,960,000 $4,466,809,600
2008 $10,526,000,000 $4,790,410,400
2007 $10,618,340,000 $4,675,767,950
2006 $10,167,250,000 $4,217,323,400
2005 $9,836,200,000 $3,819,500,000
2004 $9,055,290,000 $3,444,500,000
2003 $8,870,090,000 $3,209,500,000
2002 $8,881,160,000 $3,106,500,000
2001 $8,317,830,000 $3,054,500,000
2000 $8,076,470,000 $3,059,500,000
1999 $7,683,870,000 $2,951,822,205
1998 $6,833,220,000 $2,817,083,478
1997 $6,332,360,000 $2,498,384,130
1996 $3,609,000,000 $2,363,645,403
1995 $3,429,000,000 $2,216,974,096
1994 $3,259,000,000 $2,151,344,901
1993 $3,092,000,000 $2,063,342,117
1992 $3,109,000,000 $1,957,000,000
1991 $3,111,160,000 $2,020,583,702
1990 $3,166,000,000 $2,012,131,457
1989 $3,062,000,000 $2,006,165,167
1988 $2,817,900,000 $1,812,757,918
1987 $2,713,999,900 $1,704,370,308
1986 $2,472,500,000 $1,547,755,183
1985 $2,320,699,900 $1,409,536,121
1984 $2,041,100,000 $1,346,890,071
1983 $1,732,800,000 $1,236,016,507
1982 $1,578,300,000 $1,163,923,830
1981 $1,426,500,000 $1,114,204,743
1980 $1,335,300,000 $1,012,280,615
1979 $1,139,800,100 $670,362,452
1978 $832,400,000 $552,883,707
1977 $713,000,000 $495,097,668
1976 $642,100,000 $435,911,269
1975 $596,200,000 $402,178,605
1974 $632,400,000 $311,804,630
1973 $670,900,000 $260,767,828
1972 $590,900,000 $213,725,217
1971 $573,400,000 $186,826,503
1970 $539,500,000 $166,210,203
1969 $538,700,000 $141,393,142
1968 $453,800,000 $125,733,669
1967 $398,000,000 $125,554,009
1966 $346,800,000 $113,195,123
1965 $300,272,048 $105,021,997
1964 $266,560,043 $99,252,731
1963 $237,650,038 $99,893,761
1962 $212,170,034 $88,782,583
1961 $190,022,030 $85,363,759
1960 $169,736,027 $80,021,847

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

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

GDP per capita in Bahamas vs Barbados by year

Bahamas
GDP per capita

GDP per capita, PPP
Barbados
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahamas Barbados
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $39,455 $41,198 $26,545 $24,823
2023 $38,232 $39,090 $25,584 $23,660
2022 $34,957 $36,791 $24,387 $22,193
2021 $30,368 $31,065 $21,080 $17,683
2020 $26,179 $27,205 $19,194 $16,555
2019 $33,640 $36,116 $21,912 $19,971
2018 $32,642 $35,228 $21,381 $19,777
2017 $31,875 $34,282 $20,285 $18,437
2016 $30,617 $32,285 $20,296 $19,176
2015 $30,719 $32,138 $20,424 $19,186
2014 $29,137 $31,726 $20,193 $18,595
2013 $27,643 $30,294 $20,410 $19,032
2012 $28,552 $31,036 $20,804 $19,605
2011 $27,091 $30,074 $20,508 $20,316
2010 $27,473 $29,625 $20,611 $20,033
2009 $27,513 $29,197 $16,295 $20,324
2008 $29,392 $30,679 $17,566 $21,376
2007 $30,052 $31,232 $17,235 $20,949
2006 $29,185 $30,402 $15,620 $20,076
2005 $28,602 $29,143 $14,214 $18,450
2004 $26,650 $27,660 $12,886 $17,299
2003 $26,429 $27,031 $12,076 $16,707
2002 $26,782 $27,171 $11,760 $16,133
2001 $25,372 $26,351 $11,640 $15,866
2000 $24,940 $25,422 $11,675 $15,914
1999 $24,041 $24,184 $11,244 $14,873
1998 $21,667 $22,556 $10,734 $14,621
1997 $20,368 $21,606 $9,522 $13,941
1996 $11,784 $21,287 $9,012 $13,090
1995 $11,375 $20,377 $8,460 $12,375
1994 $10,991 $19,441 $8,223 $11,900
1993 $10,613 $18,781 $7,905 $11,448
1992 $10,873 $18,636 $7,519 $11,127
1991 $11,082 $19,296 $7,790 $11,576
1990 $11,473 $19,817 $7,781 $11,687
1989 $11,291 - $7,773 -
1988 $10,576 - $7,033 -
1987 $10,361 - $6,625 -
1986 $9,601 - $6,031 -
1985 $9,167 - $5,510 -
1984 $8,202 - $5,284 -
1983 $7,081 - $4,866 -
1982 $6,559 - $4,599 -
1981 $6,029 - $4,417 -
1980 $5,743 - $4,025 -
1979 $4,994 - $2,668 -
1978 $3,720 - $2,198 -
1977 $3,253 - $1,968 -
1976 $2,993 - $1,734 -
1975 $2,841 - $1,601 -
1974 $3,080 - $1,243 -
1973 $3,341 - $1,042 -
1972 $3,014 - $856 -
1971 $3,004 - $750 -
1970 $2,916 - $666 -
1969 $3,027 - $567 -
1968 $2,668 - $506 -
1967 $2,453 - $508 -
1966 $2,239 - $462 -
1965 $2,030 - $433 -
1964 $1,883 - $414 -
1963 $1,759 - $421 -
1962 $1,651 - $377 -
1961 $1,555 - $366 -
1960 $1,459 - $347 -

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

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

The Bahamas' GDP per capita is $39,455, ranking 30/197, compared to $26,545 in Barbados, ranking 46/197. Adjusted for purchasing power (GDP per capita PPP), the Bahamas ranks 57th at $41,198, while Barbados ranks 84th at $24,823.

Economic indicators

Bahamas Barbados
Gross domestic product
$15.8B
2024
$7.5B
2024
GDP rank
140/197
2024
157/197
2024
GDP growth
3.38%
2023-2024
2.48%
2023-2024
GDP per capita
$39,455
2024
$26,545
2024
GDP per capita rank
30/197
2024
46/197
2024
GDP per capita, PPP
$41,198
2024
$24,823
2024
GDP per capita PPP rank
57/197
2024
84/197
2024
Government debt
$11.5B
2024
$7.97B
2024
Debt-to-GDP ratio
72.5%
2024
106.3%
2024
Government debt per person
$28,616
2024
$28,218
2024
Government debt per person rank
25/185
2024
26/185
2024
Average annual personal income after taxes
$29,535
2026
$18,869
2026
Market capitalization of domestic companies n/a
$2.78B
2020
Number of billionaires n/a
1
2025
Income share by richest 10% n/a
25.8%
2016
Income share by poorest 10% n/a
2.5%
2016
Government expenditure, % of GDP
20.6%
2024
30.2%
2024
Consumer prices inflation
0.41%
2023-2024
-0.44%
2023-2024
Central bank interest rate
4%
2016
2%
2020
Unemployment rate
8.65%
2023
6.54%
2023
Population
405203
282798

Spending and national debt comparison by year

Bahamas
Spending

Debt
Barbados
Spending

Debt
1x
Year % of GDP
Bahamas Barbados
Government spending Government debt Government spending Government debt
2024 20.6% 72.5% 30.2% 106.3%
2023 22.2% 74.8% 28.8% 113.4%
2022 23.9% 79.1% 30.3% 116.9%
2021 26.9% 84.5% 32.5% 130.2%
2020 28.2% 81.9% 30.3% 128.4%
2019 19.9% 59.3% 23.9% 109.5%
2018 19.2% 60.6% 26.9% 115%
2017 22.5% 53.4% 29.8% 143.6%
2016 19.4% 51% 30.7% 136.5%
2015 17.9% 48.5% 31.4% 131.9%
2014 17.6% 46.3% 29% 122%
2013 18.4% 44.8% 30.8% 118.6%
2012 16.5% 36.4% 30.6% 109.4%
2011 17.1% 35.3% 27.7% 98.7%
2010 15.3% 33.7% 29.7% 96%
2009 15.6% 30.9% 29.5% 88.5%
2008 14.4% 25.5% 28.1% 72.6%
2007 13.3% 23% 27.8% 69%
2006 13% 22.8% 27.2% 69.8%
2005 12.3% 22% 28.7% 68.2%
2004 12.4% 21.4% 28.5% 66.5%
2003 11.8% 20.9% 29.8% 66.6%
2002 11.3% 18.8% 31% 66.1%
2001 11.2% 18.2% 22% 62.6%
2000 11.3% 18.7% 20.8% 56.6%
1999 8.78% 18.7% 19.7% 50.1%
1998 11.6% 20% 19% 50.5%
1997 12.5% 20.8% 21.5% 56.9%
1996 11.2% 20.2% 20.5% 56.1%
1995 11.2% 20.5% 18.6% 55.9%
1994 11.4% 20.4% 17% 55%
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/bahamas/barbados | CC BY

In 2024, the Bahamas' government spending was $3.26B, accounting for 20.6% of its GDP, while Barbados spent $2.26B, or 30.2% of GDP.

Debt-to-GDP ratio is 72.5% in the Bahamas and 106.3% in Barbados, ranking 53/185 and 18/185, respectively.

Government deficit by year

Deficit/surplus
Bahamas

Barbados
1x
Year Deficit/surplus, % of GDP
Bahamas Barbados
2024 -1.18% -0.89%
2023 -3.49% -1.71%
2022 -5.16% -1.96%
2021 -11.1% -4.65%
2020 -8.09% -4.16%
2019 -1.65% 3.08%
2018 -3.24% -0.34%
2017 -5.92% -3.89%
2016 -2.61% -4.88%
2015 -3.24% -8.16%
2014 -4.38% -6.57%
2013 -5.16% -8.98%
2012 -3.15% -7.07%
2011 -2.87% -3.63%
2010 -2.56% -7.55%
2009 -2.45% -6.56%
2008 -0.83% -4.1%
2007 -0.76% -4.34%
2006 -0.43% -3.41%
2005 -1.11% -3.03%
2004 -1.93% -2.97%
2003 -1.63% -3.08%
2002 -1.62% -5.28%
2001 0.3% 4.07%
2000 0.09% 4.94%
1999 1.68% 5.39%
1998 -0.41% 6.03%
1997 -1.56% 5.64%
1996 -0.15% 3.76%
1995 0.18% 6.22%
1994 -0.39% 6.72%
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/bahamas/barbados | CC BY

In 2024, the Bahamas' government deficit, the difference between spending and revenue, was $187M, equivalent to 1.18% of GDP. This compares to Barbados' deficit of $66.8M, or 0.89% of GDP.

Over the past 31 years, the Bahamas recorded a fiscal deficit in 27 of those years, while Barbados ran a deficit in 22 years. On average, the Bahamas posted an annual deficit equal to 2.41% of GDP, compared to deficit of 1.66% of GDP for Barbados.

Inflation comparison by year

Inflation
Bahamas

Barbados
1x
Year Consumer prices inflation
Bahamas Barbados
2024 0.41% -0.44%
2023 3.05% 9.79%
2022 5.61% -
2021 2.9% -
2020 0.04% -
2019 2.49% 4.1%
2018 2.27% 3.67%
2017 1.52% 4.66%
2016 -0.35% 1.28%
2015 1.86% -1.11%
2014 1.51% 1.77%
2013 0.72% 1.81%
2012 1.97% 4.53%
2011 3.2% 9.43%
2010 1.34% 5.82%
2009 2.06% 3.64%
2008 4.49% 8.11%
2007 2.49% 4.03%
2006 2.39% 7.31%
2005 1.59% 6.08%
2004 0.98% 1.39%
2003 3.03% 1.62%
2002 2.17% 0.13%
2001 2.04% 2.58%
2000 1.61% 2.44%
1999 1.25% 1.56%
1998 1.34% -1.27%
1997 0.54% 7.71%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, the Bahamas has recorded an average annual inflation rate of 1.95%, compared with 3.63% in Barbados. In 2024, inflation was 0.41% in the Bahamas and -0.44% in Barbados.

Top exports between countries

Bahamas
Export category Export value
Textiles & consumer goods $250K
Machinery & equipment $64K
Barbados
Export category Export value
Chemicals & pharma $3.37M
Processed food, beverages & tobacco $659K
Wood & paper products $70K
Textiles & consumer goods $35K
Raw materials & minerals $26K
Precious metals & jewellery $19K
Machinery & equipment $16K
Animal & marine products $3K
Miscellaneous $2K
Metals $1K

Balance of trade

Bahamas Barbados
Current account balance
-$1.05B
2024
-$296M
2017
Current account balance ranking
127/190
2024
100/190
2017
Current account balance, % of GDP
-6.65%
2024
-5.22%
2017
Goods imports
$4.6B
2024
$1.53B
2017
Goods exports
$874M
2024
$705M
2017
Service imports
$2.47B
2024
$687M
2017
Service exports
$5.9B
2024
$1.52B
2017
Imports of goods and services, % of GDP
41.5%
2024
n/a
Exports of goods and services, % of GDP
37.8%
2024
14.5%
2025

Economic freedom indices

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

Bahamas Barbados
Economic freedom 65.1 70.4
Economic freedom ranking 66/197 34/197
Property rights 62.7 76.4
Government integrity 67.1 71.3
Judicial effectiveness 79.8 87.3
Tax burden 96.1 83.2
Government spending 83.8 74.5
Fiscal health 9.1 76.5
Business freedom 69.4 72.3
Labor freedom 66.5 54.3
Monetary freedom 77.2 80.8
Trade freedom 59.4 48.2
Investment freedom 50 60
Financial freedom 60 60

Economic freedom comparison by year

Bahamas
Barbados
1x
Year Economic freedom index
Bahamas Barbados
2026 65.1 70.4
2025 63.2 68.9
2024 62.5 66.8
2023 62.6 69.8
2022 68.7 71.3
2021 64.6 65
2020 64.5 61.4
2019 62.9 64.7
2018 63.3 57
2017 61.1 54.5
2016 70.9 68.3
2015 68.7 67.9
2014 69.8 68.3
2013 70.1 69.3
2012 68 69
2011 68 68.5
2010 67.3 68.3
2009 70.3 71.5
2008 71.1 71.3
2007 72 70
2006 72.3 71.9
2005 72.6 70.1
2004 72.1 69.4
2003 73.5 71.3
2002 74.4 73.6
2001 74.8 71.5
2000 73.9 69.5
1999 74.7 66.7
1998 74.5 67.9
1997 74.5 64.5
1996 74 62.3
1995 71.8 -

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

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

The Economic Freedom Index for the Bahamas is 65.1, ranking 66/197, compared to 70.4 for Barbados, ranking 34/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahamas Barbados
Services, % of GDP
77.2%
2024
75.5%
2024
Industry, % of GDP
9.63%
2024
12.4%
2024
Agriculture, forestry, and fishing, % of GDP
0.51%
2024
1.58%
2024
GNI, Atlas method
$14.9B
2024
$7.1B
2024
GNI per capita, PPP
$39,550
2024
$23,850
2024
Total reserves including gold
$2.51B
2023
$1.65B
2024
Total reserves ranking
122/177
2023
131/177
2024
Net foreign direct investment
-$77.6M
2024
-$208M
2017
Net inflows of foreign direct investment
$241M
2024
$303M
2024
Net outflows of foreign direct investment
$163M
2024
$18.6M
2024
Poverty at national poverty lines
9.3%
2020
25.7%
2016
Gross capital formation, % of GDP
26.8%
2024
n/a

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/bahamas/barbados | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

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. TradeMap (2021–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.

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.