Skip to content

Economy of Bahamas vs Belize compared: GDP & Debt

Updated on by Georank team

The Bahamas has a GDP of $15.8B compared to $3.2B for Belize, ranking 140/197 and 168/197 by economy size, respectively.

The Bahamas has $11.5B in government debt (72.5% of GDP), compared to $2.1B (65.4% of GDP) in Belize.

Bahamas vs Belize GDP by year

Bahamas
Belize
1x
Year GDP, current $
Bahamas Belize
2024 $15,832,800,000 $3,203,631,800
2023 $15,271,300,000 $3,052,362,650
2022 $13,896,800,000 $2,846,604,350
2021 $12,037,000,000 $2,428,606,250
2020 $10,363,200,000 $2,047,284,600
2019 $13,277,000,000 $2,381,187,850
2018 $12,819,200,000 $2,285,915,050
2017 $12,446,900,000 $2,266,028,250
2016 $11,880,900,000 $2,239,604,950
2015 $11,837,600,000 $2,193,095,150
2014 $11,139,100,000 $2,138,242,200
2013 $10,475,300,000 $2,035,191,450
2012 $10,720,400,000 $1,917,083,500
2011 $10,070,450,000 $1,831,576,700
2010 $10,095,760,000 $1,748,988,400
2009 $9,981,960,000 $1,688,012,750
2008 $10,526,000,000 $1,738,453,600
2007 $10,618,340,000 $1,706,190,450
2006 $10,167,250,000 $1,590,463,100
2005 $9,836,200,000 $1,474,298,400
2004 $9,055,290,000 $1,400,202,000
2003 $8,870,090,000 $1,308,280,250
2002 $8,881,160,000 $1,243,912,050
2001 $8,317,830,000 $1,172,045,150
2000 $8,076,470,000 $1,138,138,100
1999 $7,683,870,000 $999,713,050
1998 $6,833,220,000 $929,047,000
1997 $6,332,360,000 $872,916,050
1996 $3,609,000,000 $850,339,100
1995 $3,429,000,000 $818,590,250
1994 $3,259,000,000 $771,838,000
1993 $3,092,000,000 $752,255,150
1992 $3,109,000,000 $695,741,150
1991 $3,111,160,000 $596,682,100
1990 $3,166,000,000 $546,750,912
1989 $3,062,000,000 $491,100,000
1988 $2,817,900,000 $421,450,000
1987 $2,713,999,900 $371,100,000
1986 $2,472,500,000 $311,500,000
1985 $2,320,699,900 $287,300,000
1984 $2,041,100,000 $290,350,000
1983 $1,732,800,000 $262,150,000
1982 $1,578,300,000 $248,550,000
1981 $1,426,500,000 $260,750,000
1980 $1,335,300,000 $257,400,000
1979 $1,139,800,100 $151,800,000
1978 $832,400,000 $136,300,000
1977 $713,000,000 $117,650,000
1976 $642,100,000 $97,094,227
1975 $596,200,000 $118,194,026
1974 $632,400,000 $103,160,450
1973 $670,900,000 $78,214,768
1972 $590,900,000 $65,998,069
1971 $573,400,000 $59,074,687
1970 $539,500,000 $53,339,893
1969 $538,700,000 $47,399,905
1968 $453,800,000 $44,999,910
1967 $398,000,000 $47,431,256
1966 $346,800,000 $44,450,044
1965 $300,272,048 $40,110,040
1964 $266,560,043 $36,194,586
1963 $237,650,038 $33,750,114
1962 $212,170,034 $31,857,592
1961 $190,022,030 $29,965,000
1960 $169,736,027 $28,072,478

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

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

GDP per capita in Bahamas vs Belize by year

Bahamas
GDP per capita

GDP per capita, PPP
Belize
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahamas Belize
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $39,455 $41,198 $7,681 $14,347
2023 $38,232 $39,090 $7,425 $13,730
2022 $34,957 $36,791 $7,068 $13,461
2021 $30,368 $31,065 $6,143 $11,716
2020 $26,179 $27,205 $5,239 $9,639
2019 $33,640 $36,116 $6,172 $10,500
2018 $32,642 $35,228 $6,012 $9,497
2017 $31,875 $34,282 $6,072 $9,121
2016 $30,617 $32,285 $6,141 $9,399
2015 $30,719 $32,138 $6,155 $9,538
2014 $29,137 $31,726 $6,128 $9,490
2013 $27,643 $30,294 $5,957 $9,526
2012 $28,552 $31,036 $5,733 $9,303
2011 $27,091 $30,074 $5,596 $9,722
2010 $27,473 $29,625 $5,461 $9,748
2009 $27,513 $29,197 $5,400 $9,728
2008 $29,392 $30,679 $5,712 $9,975
2007 $30,052 $31,232 $5,762 $10,226
2006 $29,185 $30,402 $5,525 $9,910
2005 $28,602 $29,143 $5,270 $9,466
2004 $26,650 $27,660 $5,154 $9,245
2003 $26,429 $27,031 $4,960 $8,850
2002 $26,782 $27,171 $4,859 $8,154
2001 $25,372 $26,351 $4,719 $7,852
2000 $24,940 $25,422 $4,727 $7,544
1999 $24,041 $24,184 $4,290 $6,790
1998 $21,667 $22,556 $4,126 $6,333
1997 $20,368 $21,606 $4,014 $6,243
1996 $11,784 $21,287 $4,043 $6,087
1995 $11,375 $20,377 $4,010 $6,091
1994 $10,991 $19,441 $3,877 $6,073
1993 $10,613 $18,781 $3,860 $6,075
1992 $10,873 $18,636 $3,643 $5,706
1991 $11,082 $19,296 $3,190 $5,053
1990 $11,473 $19,817 $2,986 $4,467
1989 $11,291 - $2,742 -
1988 $10,576 - $2,406 -
1987 $10,361 - $2,166 -
1986 $9,601 - $1,859 -
1985 $9,167 - $1,754 -
1984 $8,202 - $1,814 -
1983 $7,081 - $1,677 -
1982 $6,559 - $1,629 -
1981 $6,029 - $1,753 -
1980 $5,743 - $1,774 -
1979 $4,994 - $1,071 -
1978 $3,720 - $983 -
1977 $3,253 - $866 -
1976 $2,993 - $729 -
1975 $2,841 - $906 -
1974 $3,080 - $805 -
1973 $3,341 - $619 -
1972 $3,014 - $529 -
1971 $3,004 - $481 -
1970 $2,916 - $442 -
1969 $3,027 - $402 -
1968 $2,668 - $392 -
1967 $2,453 - $426 -
1966 $2,239 - $412 -
1965 $2,030 - $383 -
1964 $1,883 - $356 -
1963 $1,759 - $342 -
1962 $1,651 - $332 -
1961 $1,555 - $320 -
1960 $1,459 - $307 -

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

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

The Bahamas' GDP per capita is $39,455, ranking 30/197, compared to $7,681 in Belize, ranking 98/197. Adjusted for purchasing power (GDP per capita PPP), the Bahamas ranks 57th at $41,198, while Belize ranks 117th at $14,347.

Economic indicators

Bahamas Belize
Gross domestic product
$15.8B
2024
$3.2B
2024
GDP rank
140/197
2024
168/197
2024
GDP growth
3.38%
2023-2024
3.5%
2023-2024
GDP per capita
$39,455
2024
$7,681
2024
GDP per capita rank
30/197
2024
98/197
2024
GDP per capita, PPP
$41,198
2024
$14,347
2024
GDP per capita PPP rank
57/197
2024
117/197
2024
Government debt
$11.5B
2024
$2.1B
2024
Debt-to-GDP ratio
72.5%
2024
65.4%
2024
Government debt per person
$28,616
2024
$5,026
2024
Government debt per person rank
25/185
2024
78/185
2024
Average annual personal income after taxes
$29,535
2026
$9,204
2026
Number of billionaires n/a
1
2025
Income share by richest 10% n/a
30%
2018
Income share by poorest 10% n/a
2.2%
2018
Government expenditure, % of GDP
20.6%
2024
26.3%
2024
Consumer prices inflation
0.41%
2023-2024
3.3%
2023-2024
Central bank interest rate
4%
2016
n/a
Unemployment rate
8.65%
2023
29.3%
2020
Population
405203
430409

Spending and national debt comparison by year

Bahamas
Spending

Debt
Belize
Spending

Debt
1x
Year % of GDP
Bahamas Belize
Government spending Government debt Government spending Government debt
2024 20.6% 72.5% 26.3% 65.4%
2023 22.2% 74.8% 25.8% 67.5%
2022 23.9% 79.1% 23.4% 66.8%
2021 26.9% 84.5% 25.7% 82.2%
2020 28.2% 81.9% 33.2% 103%
2019 19.9% 59.3% 27.5% 78.6%
2018 19.2% 60.6% 26.9% 79%
2017 22.5% 53.4% 27.7% 78.1%
2016 19.4% 51% 27.7% 70.5%
2015 17.9% 48.5% 27.9% 65.1%
2014 17.6% 46.3% 24.8% 61.5%
2013 18.4% 44.8% 23.8% 62.8%
2012 16.5% 36.4% 22.1% 63.1%
2011 17.1% 35.3% 23.5% 66.2%
2010 15.3% 33.7% 23.3% 68.4%
2009 15.6% 30.9% 23.2% 69.7%
2008 14.4% 25.5% 21.8% 64.7%
2007 13.3% 23% 22.1% 66.4%
2006 13% 22.8% 21.2% 71.4%
2005 12.3% 22% 21.4% 72.7%
2004 12.4% 21.4% 21.7% 70.7%
2003 11.8% 20.9% 24.6% 67.2%
2002 11.3% 18.8% 24.4% 53.2%
2001 11.2% 18.2% 25.9% 49.5%
2000 11.3% 18.7% 23.2% 79%
1999 8.78% 18.7% 23.6% 41.5%
1998 11.6% 20% 20.9% 38.7%
1997 12.5% 20.8% 19.9% 39.4%
1996 11.2% 20.2% 19.9% 38.4%
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); International Monetary Fund (IMF) | Public Finances in Modern History (1996–2000, retrieved 2026-02-20).

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

In 2024, the Bahamas' government spending was $3.26B, accounting for 20.6% of its GDP, while Belize spent $842M, or 26.3% of GDP.

Debt-to-GDP ratio is 72.5% in the Bahamas and 65.4% in Belize, ranking 53/185 and 67/185, respectively.

Government deficit by year

Deficit/surplus
Bahamas

Belize
1x
Year Deficit/surplus, % of GDP
Bahamas Belize
2024 -1.18% -1.23%
2023 -3.49% -2.42%
2022 -5.16% -1.04%
2021 -11.1% -3.29%
2020 -8.09% -8.57%
2019 -1.65% -2.9%
2018 -3.24% -1.37%
2017 -5.92% -3.48%
2016 -2.61% -4.47%
2015 -3.24% -5.14%
2014 -4.38% -1.72%
2013 -5.16% -1.21%
2012 -3.15% -0.22%
2011 -2.87% -1.06%
2010 -2.56% -1.9%
2009 -2.45% -2.46%
2008 -0.83% 1.25%
2007 -0.76% -0.19%
2006 -0.43% -2.27%
2005 -1.11% -3.7%
2004 -1.93% -4.52%
2003 -1.63% -8.41%
2002 -1.62% -5.41%
2001 0.3% -7.23%
2000 0.09% -6.68%
1999 1.68% -6.51%
1998 -0.41% -2.69%
1997 -1.56% -1.81%
1996 -0.15% -1.76%
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/bahamas/belize | 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 Belize's deficit of $39.4M, or 1.23% of GDP.

Over the past 29 years, the Bahamas recorded a fiscal deficit in 26 of those years, while Belize ran a deficit in 28 years. On average, the Bahamas posted an annual deficit equal to 2.57% of GDP, compared to deficit of 3.19% of GDP for Belize.

Inflation comparison by year

Inflation
Bahamas

Belize
1x
Year Consumer prices inflation
Bahamas Belize
2024 0.41% 3.3%
2023 3.05% 4.4%
2022 5.61% 6.3%
2021 2.9% 3.2%
2020 0.04% 0.1%
2019 2.49% 0.2%
2018 2.27% 0.3%
2017 1.52% 1.1%
2016 -0.35% 0.7%
2015 1.86% -0.9%
2014 1.51% 1.2%
2013 0.72% 0.5%
2012 1.97% 1.2%
2011 3.2% 1.7%
2010 1.34% 0.9%
2009 2.06% -1.1%
2008 4.49% 6.4%
2007 2.49% 2.3%
2006 2.39% 4.2%
2005 1.59% 3.7%
2004 0.98% 3.1%
2003 3.03% 2.6%
2002 2.17% 2.2%
2001 2.04% 1.1%
2000 1.61% 0.6%
1999 1.25% -1.2%
1998 1.34% -0.8%
1997 0.54% 1%

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/bahamas/belize | CC BY

Over the past 28 years, the Bahamas has recorded an average annual inflation rate of 1.95%, compared with 1.73% in Belize. In 2024, inflation was 0.41% in the Bahamas and 3.3% in Belize.

Top exports between countries

Bahamas
Export category Export value
Belize
Export category Export value
Textiles & consumer goods $685K
Wood & paper products $80K
Processed food, beverages & tobacco $24K
Metals $12K
Chemicals & pharma $3K

Balance of trade

Bahamas Belize
Current account balance
-$1.05B
2024
-$51.7M
2024
Current account balance ranking
127/190
2024
84/190
2024
Current account balance, % of GDP
-6.65%
2024
-1.61%
2024
Goods imports
$4.6B
2024
$1.36B
2024
Goods exports
$874M
2024
$482M
2024
Service imports
$2.47B
2024
$362M
2024
Service exports
$5.9B
2024
$1.16B
2024
Imports of goods and services, % of GDP
41.5%
2024
53.7%
2024
Exports of goods and services, % of GDP
37.8%
2024
55.2%
2024

Economic freedom indices

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

Bahamas Belize
Economic freedom 65.1 64.7
Economic freedom ranking 66/197 71/197
Property rights 62.7 46.3
Government integrity 67.1 46.2
Judicial effectiveness 79.8 73.9
Tax burden 96.1 81.8
Government spending 83.8 81
Fiscal health 9.1 87.5
Business freedom 69.4 67.2
Labor freedom 66.5 57.6
Monetary freedom 77.2 72.6
Trade freedom 59.4 57.8
Investment freedom 50 55
Financial freedom 60 50

Economic freedom comparison by year

Bahamas
Belize
1x
Year Economic freedom index
Bahamas Belize
2026 65.1 64.7
2025 63.2 64.2
2024 62.5 61.2
2023 62.6 59.8
2022 68.7 56.6
2021 64.6 57.5
2020 64.5 57.4
2019 62.9 55.4
2018 63.3 57.1
2017 61.1 58.6
2016 70.9 57.4
2015 68.7 56.8
2014 69.8 56.7
2013 70.1 57.3
2012 68 61.9
2011 68 63.8
2010 67.3 61.5
2009 70.3 63
2008 71.1 63
2007 72 63.3
2006 72.3 64.7
2005 72.6 64.5
2004 72.1 62.8
2003 73.5 63.5
2002 74.4 65.6
2001 74.8 65.9
2000 73.9 63.3
1999 74.7 60.7
1998 74.5 59.1
1997 74.5 64.3
1996 74 61.6
1995 71.8 62.9

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

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

The Economic Freedom Index for the Bahamas is 65.1, ranking 66/197, compared to 64.7 for Belize, ranking 71/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahamas Belize
Services, % of GDP
77.2%
2024
62.4%
2024
Industry, % of GDP
9.63%
2024
14.6%
2024
Agriculture, forestry, and fishing, % of GDP
0.51%
2024
7.95%
2024
GNI, Atlas method
$14.9B
2024
$2.98B
2024
GNI per capita, PPP
$39,550
2024
$13,760
2024
Total reserves including gold
$2.51B
2023
$498M
2024
Total reserves ranking
122/177
2023
156/177
2024
Net foreign direct investment
-$77.6M
2024
-$126M
2024
Net inflows of foreign direct investment
$241M
2024
$128M
2024
Net outflows of foreign direct investment
$163M
2024
$2.61M
2024
Servicing debt to the IMF, % of GNI n/a
4.15%
2024
Poverty at national poverty lines
9.3%
2020
52%
2018
Gross capital formation, % of GDP
26.8%
2024
19.8%
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/bahamas/belize | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1996–2000, retrieved 2026-02-20)
  6. TradeMap (2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. 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.

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.