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Economy of Bahamas vs Bulgaria compared: GDP & Debt

Updated on by Georank team

The Bahamas has a GDP of $15.8B compared to $113B for Bulgaria, ranking 140/197 and 67/197 by economy size, respectively.

The Bahamas has $11.5B in government debt (72.5% of GDP), compared to $27.3B (24.1% of GDP) in Bulgaria.

Bahamas vs Bulgaria GDP by year

Bahamas
Bulgaria
1x
Year GDP, current $
Bahamas Bulgaria
2024 $15,832,800,000 $113,343,355,780
2023 $15,271,300,000 $102,199,231,385
2022 $13,896,800,000 $90,506,153,294
2021 $12,037,000,000 $84,374,613,233
2020 $10,363,200,000 $70,486,877,546
2019 $13,277,000,000 $68,507,731,354
2018 $12,819,200,000 $66,097,226,262
2017 $12,446,900,000 $59,167,647,388
2016 $11,880,900,000 $53,929,397,039
2015 $11,837,600,000 $50,765,918,159
2014 $11,139,100,000 $57,080,897,012
2013 $10,475,300,000 $55,819,262,375
2012 $10,720,400,000 $54,297,052,002
2011 $10,070,450,000 $57,681,293,007
2010 $10,095,760,000 $50,689,051,382
2009 $9,981,960,000 $52,023,801,230
2008 $10,526,000,000 $54,480,684,188
2007 $10,618,340,000 $44,431,257,129
2006 $10,167,250,000 $34,380,536,496
2005 $9,836,200,000 $29,868,657,858
2004 $9,055,290,000 $26,157,743,369
2003 $8,870,090,000 $21,144,957,990
2002 $8,881,160,000 $16,403,043,850
2001 $8,317,830,000 $14,183,446,026
2000 $8,076,470,000 $13,245,990,274
1999 $7,683,870,000 $13,637,098,579
1998 $6,833,220,000 $15,031,055,047
1997 $6,332,360,000 $11,316,127,379
1996 $3,609,000,000 $12,294,964,838
1995 $3,429,000,000 $18,991,484,420
1994 $3,259,000,000 $9,709,240,034
1993 $3,092,000,000 $10,832,064,942
1992 $3,109,000,000 $8,602,887,623
1991 $3,111,160,000 $7,628,738,475
1990 $3,166,000,000 $20,632,090,909
1989 $3,062,000,000 $21,988,444,444
1988 $2,817,900,000 $22,555,941,176
1987 $2,713,999,900 $28,101,000,000
1986 $2,472,500,000 $20,249,294,118
1985 $2,320,699,900 $17,155,421,053
1984 $2,041,100,000 $17,594,944,444
1983 $1,732,800,000 $16,563,666,667
1982 $1,578,300,000 $19,342,000,000
1981 $1,426,500,000 $19,870,000,000
1980 $1,335,300,000 $19,839,230,769
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/bahamas/bulgaria | CC BY

GDP per capita in Bahamas vs Bulgaria by year

Bahamas
GDP per capita

GDP per capita, PPP
Bulgaria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahamas Bulgaria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $39,455 $41,198 $17,596 $41,969
2023 $38,232 $39,090 $15,853 $38,829
2022 $34,957 $36,791 $13,999 $36,320
2021 $30,368 $31,065 $12,966 $30,959
2020 $26,179 $27,205 $10,760 $27,352
2019 $33,640 $36,116 $10,354 $26,766
2018 $32,642 $35,228 $9,849 $23,998
2017 $31,875 $34,282 $8,697 $22,317
2016 $30,617 $32,285 $7,822 $20,746
2015 $30,719 $32,138 $7,269 $18,896
2014 $29,137 $31,726 $8,070 $17,991
2013 $27,643 $30,294 $7,796 $16,894
2012 $28,552 $31,036 $7,432 $16,327
2011 $27,091 $30,074 $7,850 $15,747
2010 $27,473 $29,625 $6,854 $14,954
2009 $27,513 $29,197 $6,988 $14,188
2008 $29,392 $30,679 $7,271 $14,347
2007 $30,052 $31,232 $5,889 $12,822
2006 $29,185 $30,402 $4,523 $11,406
2005 $28,602 $29,143 $3,900 $10,291
2004 $26,650 $27,660 $3,390 $9,200
2003 $26,429 $27,031 $2,719 $8,416
2002 $26,782 $27,171 $2,093 $7,786
2001 $25,372 $26,351 $1,771 $6,960
2000 $24,940 $25,422 $1,621 $6,424
1999 $24,041 $24,184 $1,661 $5,808
1998 $21,667 $22,556 $1,820 $6,178
1997 $20,368 $21,606 $1,361 $5,751
1996 $11,784 $21,287 $1,470 $6,849
1995 $11,375 $20,377 $2,259 $7,743
1994 $10,991 $19,441 $1,150 $7,338
1993 $10,613 $18,781 $1,279 $7,032
1992 $10,873 $18,636 $1,007 $6,917
1991 $11,082 $19,296 $884 $7,215
1990 $11,473 $19,817 $2,367 $7,548
1989 $11,291 - $2,477 -
1988 $10,576 - $2,511 -
1987 $10,361 - $3,132 -
1986 $9,601 - $2,260 -
1985 $9,167 - $1,915 -
1984 $8,202 - $1,964 -
1983 $7,081 - $1,853 -
1982 $6,559 - $2,169 -
1981 $6,029 - $2,235 -
1980 $5,743 - $2,239 -
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/bahamas/bulgaria | CC BY

The Bahamas' GDP per capita is $39,455, ranking 30/197, compared to $17,596 in Bulgaria, ranking 64/197. Adjusted for purchasing power (GDP per capita PPP), the Bahamas ranks 57th at $41,198, while Bulgaria ranks 54th at $41,969.

Economic indicators

Bahamas Bulgaria
Gross domestic product
$15.8B
2024
$113B
2024
GDP rank
140/197
2024
67/197
2024
GDP growth
3.38%
2023-2024
3.39%
2023-2024
GDP per capita
$39,455
2024
$17,596
2024
GDP per capita rank
30/197
2024
64/197
2024
GDP per capita, PPP
$41,198
2024
$41,969
2024
GDP per capita PPP rank
57/197
2024
54/197
2024
Government debt
$11.5B
2024
$27.3B
2024
Debt-to-GDP ratio
72.5%
2024
24.1%
2024
Government debt per person
$28,616
2024
$4,237
2024
Government debt per person rank
25/185
2024
90/185
2024
Average annual personal income after taxes
$29,535
2026
$14,263
2026
Market capitalization of domestic companies n/a
$8.41B
2024
Number of billionaires n/a
2
2025
Income share by richest 10% n/a
31.1%
2023
Income share by poorest 10% n/a
2.1%
2023
Government expenditure, % of GDP
20.6%
2024
36.7%
2024
Consumer prices inflation
0.41%
2023-2024
2.6%
2023-2024
Central bank interest rate
4%
2016
1.81%
2025
Unemployment rate
8.65%
2023
4.17%
2024
Population
405203
6359449

Spending and national debt comparison by year

Bahamas
Spending

Debt
Bulgaria
Spending

Debt
1x
Year % of GDP
Bahamas Bulgaria
Government spending Government debt Government spending Government debt
2024 20.6% 72.5% 36.7% 24.1%
2023 22.2% 74.8% 37.4% 22.9%
2022 23.9% 79.1% 37.6% 22.5%
2021 26.9% 84.5% 38.4% 23.8%
2020 28.2% 81.9% 37.6% 22.7%
2019 19.9% 59.3% 36% 18.4%
2018 19.2% 60.6% 34.4% 20.1%
2017 22.5% 53.4% 32% 22.9%
2016 19.4% 51% 32.7% 27%
2015 17.9% 48.5% 37.3% 25.4%
2014 17.6% 46.3% 37.1% 26.3%
2013 18.4% 44.8% 35.5% 17.2%
2012 16.5% 36.4% 32.5% 16.5%
2011 17.1% 35.3% 32% 14.3%
2010 15.3% 33.7% 34.6% 14.1%
2009 15.6% 30.9% 33.8% 14.5%
2008 14.4% 25.5% 33.5% 14.7%
2007 13.3% 23% 33.1% 17.6%
2006 13% 22.8% 32.5% 22.6%
2005 12.3% 22% 34% 28.5%
2004 12.4% 21.4% 34.6% 37.8%
2003 11.8% 20.9% 35.8% 45.4%
2002 11.3% 18.8% 35.1% 53.4%
2001 11.2% 18.2% 36.5% 67.1%
2000 11.3% 18.7% 37.1% 73.3%
1999 8.78% 18.7% 36.2% 78.7%
1998 11.6% 20% 30.6% 67.3%
1997 12.5% 20.8% 32.9% 88.4%
1996 11.2% 20.2% 44% 113.8%
1995 11.2% 20.5% 45.4% 72%
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 (1995–1997, retrieved 2026-02-20).

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

In 2024, the Bahamas' government spending was $3.26B, accounting for 20.6% of its GDP, while Bulgaria spent $41.5B, or 36.7% of GDP.

Debt-to-GDP ratio is 72.5% in the Bahamas and 24.1% in Bulgaria, ranking 53/185 and 169/185, respectively.

Government deficit by year

Deficit/surplus
Bahamas

Bulgaria
1x
Year Deficit/surplus, % of GDP
Bahamas Bulgaria
2024 -1.18% -3.04%
2023 -3.49% -3.03%
2022 -5.16% -0.8%
2021 -11.1% -2.8%
2020 -8.09% -2.92%
2019 -1.65% -0.96%
2018 -3.24% 0.12%
2017 -5.92% 0.82%
2016 -2.61% 1.54%
2015 -3.24% -2.77%
2014 -4.38% -3.65%
2013 -5.16% -1.75%
2012 -3.15% -0.43%
2011 -2.87% -1.83%
2010 -2.56% -3.77%
2009 -2.45% -0.86%
2008 -0.83% 2.73%
2007 -0.76% 3.09%
2006 -0.43% 3.22%
2005 -1.11% 2.19%
2004 -1.93% 1.59%
2003 -1.63% 0.003%
2002 -1.62% -0.61%
2001 0.3% -0.58%
2000 0.09% -0.6%
1999 1.68% 0.15%
1998 -0.41% 1.08%
1997 -1.56% 0.83%
1996 -0.15% -10.1%
1995 0.18% -7.98%
1994 -0.39% -
1993 -1.05% -
1992 -2.23% -
1991 -2.29% -
1990 -2.64% -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -
1980 - -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - 0%
1943 - 0%
1942 - -0.3%
1941 - 3.96%
1940 - 0.75%
1939 - 0.72%
1938 - 1%
1937 - 1.41%
1936 - 1.17%
1935 - 1.34%
1934 - -0.12%
1933 - -0.56%
1932 - -2.14%
1931 - -3.07%
1930 - -5.48%
1929 - -6.67%
1928 - -1.09%
1927 - -0.02%
1926 - -0.25%
1925 - -0.97%
1924 - 1.26%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1924–1997, retrieved 2026-02-20).

GeoRank.org/economy/bahamas/bulgaria | 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 Bulgaria's deficit of $3.44B, or 3.04% of GDP.

Over the past 30 years, the Bahamas recorded a fiscal deficit in 26 of those years, while Bulgaria ran a deficit in 18 years. On average, the Bahamas posted an annual deficit equal to 2.48% of GDP, compared to deficit of 1.04% of GDP for Bulgaria.

Inflation comparison by year

Inflation
Bahamas

Bulgaria
1x
Year Consumer prices inflation
Bahamas Bulgaria
2024 0.41% 2.6%
2023 3.05% 8.6%
2022 5.61% 13%
2021 2.9% 2.8%
2020 0.04% 1.2%
2019 2.49% 2.5%
2018 2.27% 2.6%
2017 1.52% 1.2%
2016 -0.35% -1.3%
2015 1.86% -1.1%
2014 1.51% -1.6%
2013 0.72% 0.4%
2012 1.97% 2.4%
2011 3.2% 3.4%
2010 1.34% 3%
2009 2.06% 2.5%
2008 4.49% 12%
2007 2.49% 7.6%
2006 2.39% 7.4%
2005 1.59% 6%
2004 0.98% 6.1%
2003 3.03% 2.3%
2002 2.17% 5.8%
2001 2.04% 7.4%
2000 1.61% 10.3%
1999 1.25% 2.6%
1998 1.34% 18.7%
1997 0.54% 1,061%

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/bulgaria | CC BY

Over the past 28 years, the Bahamas has recorded an average annual inflation rate of 1.95%, compared with 42.5% in Bulgaria. In 2024, inflation was 0.41% in the Bahamas and 2.6% in Bulgaria.

Top exports between countries

Bahamas
Export category Export value
Textiles & consumer goods $10K
Bulgaria
Export category Export value
Machinery & equipment $336K
Raw materials & minerals $50K
Textiles & consumer goods $31K
Metals $10K
Miscellaneous $10K
Processed food, beverages & tobacco $5K

Balance of trade

Bahamas Bulgaria
Current account balance
-$1.05B
2024
-$1.74B
2024
Current account balance ranking
127/190
2024
138/190
2024
Current account balance, % of GDP
-6.65%
2024
-1.54%
2024
Goods imports
$4.6B
2024
$52.8B
2024
Goods exports
$874M
2024
$47.3B
2024
Service imports
$2.47B
2024
$8.26B
2024
Service exports
$5.9B
2024
$16.6B
2024
Imports of goods and services, % of GDP
41.5%
2024
53.9%
2024
Exports of goods and services, % of GDP
37.8%
2024
56.4%
2024

Economic freedom indices

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

Bahamas Bulgaria
Economic freedom 65.1 68.9
Economic freedom ranking 66/197 44/197
Property rights 62.7 75.8
Government integrity 67.1 48.4
Judicial effectiveness 79.8 58.5
Tax burden 96.1 89.1
Government spending 83.8 58.4
Fiscal health 9.1 90.4
Business freedom 69.4 78.2
Labor freedom 66.5 62.4
Monetary freedom 77.2 75.8
Trade freedom 59.4 79.4
Investment freedom 50 60
Financial freedom 60 50

Economic freedom comparison by year

Bahamas
Bulgaria
1x
Year Economic freedom index
Bahamas Bulgaria
2026 65.1 68.9
2025 63.2 68.8
2024 62.5 68.5
2023 62.6 69.3
2022 68.7 71
2021 64.6 70.4
2020 64.5 70.2
2019 62.9 69
2018 63.3 68.3
2017 61.1 67.9
2016 70.9 65.9
2015 68.7 66.8
2014 69.8 65.7
2013 70.1 65
2012 68 64.7
2011 68 64.9
2010 67.3 62.3
2009 70.3 64.6
2008 71.1 63.7
2007 72 62.7
2006 72.3 64.1
2005 72.6 62.3
2004 72.1 59.2
2003 73.5 57
2002 74.4 57.1
2001 74.8 51.9
2000 73.9 47.3
1999 74.7 46.2
1998 74.5 45.7
1997 74.5 47.6
1996 74 48.6
1995 71.8 50

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

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

The Economic Freedom Index for the Bahamas is 65.1, ranking 66/197, compared to 68.9 for Bulgaria, ranking 44/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahamas Bulgaria
Services, % of GDP
77.2%
2024
63.8%
2024
Industry, % of GDP
9.63%
2024
21.1%
2024
Agriculture, forestry, and fishing, % of GDP
0.51%
2024
2.35%
2024
GNI, Atlas method
$14.9B
2024
$99B
2024
GNI per capita, PPP
$39,550
2024
$39,850
2024
Total reserves including gold
$2.51B
2023
$43.7B
2024
Total reserves ranking
122/177
2023
47/177
2024
Net foreign direct investment
-$77.6M
2024
-$2.22B
2024
Net inflows of foreign direct investment
$241M
2024
$3.55B
2024
Net outflows of foreign direct investment
$163M
2024
$1.13B
2024
Servicing debt to the IMF, % of GNI n/a
6.8%
2024
Poverty at national poverty lines
9.3%
2020
21.7%
2023
Gross capital formation, % of GDP
26.8%
2024
20.4%
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/bulgaria | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1924–1997, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2020–2024, 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.