Skip to content

Economy of Bahamas vs Cape Verde compared: GDP & Debt

Updated on by Georank

The Bahamas has a GDP of $15.8B compared to $3.06B for Cape Verde, ranking 145/197 and 172/197 by economy size, respectively.

The Bahamas has $11.7B in government debt (73.8% of GDP), compared to $3.09B (101% of GDP) in Cape Verde.

Bahamas vs Cape Verde GDP by year

Bahamas
Cape Verde
1x
Year GDP, current $
Bahamas Cape Verde
2025 - $3,056,630,435
2024 $15,832,800,000 $2,713,721,857
2023 $15,271,300,000 $2,504,525,538
2022 $13,896,800,000 $2,247,003,344
2021 $12,037,000,000 $2,051,842,619
2020 $10,363,200,000 $1,821,565,614
2019 $13,277,000,000 $2,252,177,124
2018 $12,819,200,000 $2,205,099,507
2017 $12,446,900,000 $1,996,741,540
2016 $11,880,900,000 $1,849,789,986
2015 $11,837,600,000 $1,749,857,620
2014 $11,139,100,000 $2,041,930,125
2013 $10,475,300,000 $2,028,910,915
2012 $10,720,400,000 $1,913,081,210
2011 $10,070,450,000 $2,046,817,987
2010 $10,095,760,000 $1,824,751,468
2009 $9,981,960,000 $1,852,334,575
2008 $10,526,000,000 $1,959,620,648
2007 $10,618,340,000 $1,649,621,739
2006 $10,167,250,000 $1,107,571,458
2005 $9,836,200,000 $972,241,677
2004 $9,055,290,000 $924,940,012
2003 $8,870,090,000 $813,260,469
2002 $8,881,160,000 $620,507,387
2001 $8,317,830,000 $563,090,490
2000 $8,076,470,000 $539,227,278
1999 $7,683,870,000 $592,416,703
1998 $6,833,220,000 $521,910,561
1997 $6,332,360,000 $490,608,658
1996 $3,609,000,000 $501,979,270
1995 $3,429,000,000 $487,148,994
1994 $3,259,000,000 $406,580,652
1993 $3,092,000,000 $490,417,390
1992 $3,109,000,000 $357,160,985
1991 $3,111,160,000 $319,827,059
1990 $3,166,000,000 $306,890,963
1989 $3,062,000,000 $267,448,571
1988 $2,817,900,000 $264,308,140
1987 $2,713,999,900 $235,253,065
1986 $2,472,500,000 $190,651,168
1985 $2,320,699,900 $137,728,205
1984 $2,041,100,000 $132,019,039
1983 $1,732,800,000 $138,476,176
1982 $1,578,300,000 $140,630,679
1981 $1,426,500,000 $139,468,209
1980 $1,335,300,000 $142,246,815
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 (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/bahamas/cape-verde | CC BY

GDP per capita in Bahamas vs Cape Verde by year

Bahamas
GDP per capita

GDP per capita, PPP
Cape Verde
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahamas Cape Verde
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 - - $5,796 -
2024 $39,455 $41,198 $5,170 $11,195
2023 $38,232 $39,090 $4,795 $10,242
2022 $34,957 $36,791 $4,323 $9,481
2021 $30,368 $31,065 $3,971 $7,685
2020 $26,179 $27,205 $3,539 $6,853
2019 $33,640 $36,116 $4,381 $8,646
2018 $32,642 $35,228 $4,295 $7,916
2017 $31,875 $34,282 $3,893 $7,936
2016 $30,617 $32,285 $3,609 $7,351
2015 $30,719 $32,138 $3,415 $6,773
2014 $29,137 $31,726 $3,986 $6,417
2013 $27,643 $30,294 $3,961 $6,367
2012 $28,552 $31,036 $3,737 $6,318
2011 $27,091 $30,074 $4,002 $6,384
2010 $27,473 $29,625 $3,579 $6,039
2009 $27,513 $29,197 $3,660 $5,901
2008 $29,392 $30,679 $3,909 $6,011
2007 $30,052 $31,232 $3,325 $5,567
2006 $29,185 $30,402 $2,257 $4,758
2005 $28,602 $29,143 $2,004 $4,324
2004 $26,650 $27,660 $1,929 $3,969
2003 $26,429 $27,031 $1,718 $3,551
2002 $26,782 $27,171 $1,329 $3,388
2001 $25,372 $26,351 $1,223 $3,217
2000 $24,940 $25,422 $1,190 $3,124
1999 $24,041 $24,184 $1,327 $2,714
1998 $21,667 $22,556 $1,187 $2,443
1997 $20,368 $21,606 $1,134 $2,182
1996 $11,784 $21,287 $1,180 $1,963
1995 $11,375 $20,377 $1,165 $1,762
1994 $10,991 $19,441 $991 $1,540
1993 $10,613 $18,781 $1,220 $1,291
1992 $10,873 $18,636 $908 $1,186
1991 $11,082 $19,296 $832 $1,069
1990 $11,473 $19,817 $817 $1,044
1989 $11,291 - $727 -
1988 $10,576 - $729 -
1987 $10,361 - $658 -
1986 $9,601 - $541 -
1985 $9,167 - $396 -
1984 $8,202 - $385 -
1983 $7,081 - $410 -
1982 $6,559 - $423 -
1981 $6,029 - $425 -
1980 $5,743 - $440 -
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 (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/bahamas/cape-verde | CC BY

The Bahamas' GDP per capita is $39,455, ranking 30/197, compared to $5,796 in Cape Verde, ranking 116/197. Adjusted for purchasing power (GDP per capita PPP), the Bahamas ranks 57th at $41,198, while Cape Verde ranks 129th at $11,195.

Economic indicators

Bahamas Cape Verde
Gross domestic product
$15.8B
2024
$3.06B
2025
GDP rank
145/197
2024
172/197
2025
GDP growth
3.38%
2023-2024
6.3%
2024-2025
GDP per capita
$39,455
2024
$5,796
2025
GDP per capita rank
30/197
2024
116/197
2025
GDP per capita, PPP
$41,198
2024
$11,195
2024
GDP per capita PPP rank
57/197
2024
129/197
2024
Government debt
$11.7B
2024
$3.09B
2025
Debt-to-GDP ratio
73.8%
2025
101%
2025
Government debt per person
$29,123
2024
$5,854
2025
Government debt per person rank
25/185
2024
77/185
2025
Average annual personal income after taxes
$36,621
2026
$2,506
2026
Income share by richest 10% n/a
32.3%
2015
Income share by poorest 10% n/a
2.2%
2015
Government expenditure, % of GDP
21.5%
2025
27%
2025
Consumer prices inflation
0.41%
2023-2024
2.3%
2024-2025
Central bank interest rate
4%
2016
1.5%
2024
Unemployment rate
10.3%
2023
11.3%
2019
Population
405486
530853

Spending and national debt comparison by year

Bahamas
Spending

Debt
Cape Verde
Spending

Debt
1x
Year % of GDP
Bahamas Cape Verde
Government spending Government debt Government spending Government debt
2025 21.5% 73.8% 27% 101%
2024 21% 73.8% 26.1% 112.8%
2023 23.2% 78.3% 25.7% 117.5%
2022 25.6% 84.7% 26.6% 127.6%
2021 28.9% 90.7% 30.8% 149.5%
2020 24.8% 71.9% 34.5% 149.1%
2019 20.3% 60.3% 27.5% 109.8%
2018 19.4% 61.5% 27.5% 112.3%
2017 23.1% 54.6% 28% 113%
2016 19.4% 51.1% 26.6% 115.6%
2015 18.4% 49.9% 28.7% 115.7%
2014 18.1% 47.7% 27.8% 105.7%
2013 18.1% 44.2% 30.9% 93.5%
2012 17% 37.6% 31.6% 82.9%
2011 17.1% 35.3% 30.3% 71.6%
2010 15.4% 33.9% 35.7% 66.2%
2009 15.2% 30.1% 30.6% 58.8%
2008 14.3% 25.3% 27.6% 57.5%
2007 13.6% 23.5% 27.1% 59.6%
2006 13.2% 23.2% 28.4% 66.2%
2005 12.9% 23% 26.2% 66.7%
2004 12.5% 21.6% 26.3% 67.8%
2003 11.8% 20.8% 23.4% 65.6%
2002 11.6% 19.4% 28.5% 64.7%
2001 11.4% 18.5% 24.2% 62.2%
2000 11.6% 19.2% 36.7% 71.9%
1999 9.3% 19.8% 35% 66.4%
1998 12% 20.8% 29.8% 72.9%
1997 12.9% 21.5% 34.8% 79.3%
1996 11.5% 20.7% 38.9% 85.7%
1995 11.5% 21% 44.5% 74.3%
1994 11.7% 20.9% 48.1% 73.4%
1993 11.5% 19.7% - -
1992 11.8% 17.9% - -
1991 11.9% 15.3% - -
1990 11.4% 13.2% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1994–1996, retrieved 2026-07-08).

GeoRank.org/economy/bahamas/cape-verde | CC BY

In 2025, the Bahamas' government spending was $3.32B, accounting for 21.5% of its GDP, while Cape Verde spent $827M, or 27% of GDP.

Debt-to-GDP ratio is 73.8% in the Bahamas and 101% in Cape Verde, ranking 52/185 and 23/185, respectively.

Government deficit by year

Deficit/surplus
Bahamas

Cape Verde
1x
Year Deficit/surplus, % of GDP
Bahamas Cape Verde
2025 -0.49% 1.06%
2024 -1.2% -1.07%
2023 -3.65% -0.28%
2022 -5.53% -4.25%
2021 -11.9% -7.51%
2020 -7.11% -9.29%
2019 -1.68% -1.62%
2018 -3.28% -2.36%
2017 -6.05% -2.63%
2016 -2.61% -2.73%
2015 -3.34% -4.16%
2014 -4.51% -6.93%
2013 -5.1% -8.49%
2012 -3.25% -9.36%
2011 -2.87% -6.98%
2010 -2.57% -9.6%
2009 -2.39% -5.32%
2008 -0.82% -1.42%
2007 -0.77% -0.86%
2006 -0.44% -4.32%
2005 -1.16% -4.69%
2004 -1.95% -2.98%
2003 -1.63% -3.63%
2002 -1.67% -6.14%
2001 0.3% -5.03%
2000 0.09% -15.5%
1999 1.78% -10.9%
1998 -0.43% -3.16%
1997 -1.6% -10.2%
1996 -0.15% -11.2%
1995 0.18% -11.1%
1994 -0.4% -12.8%
1993 -1.05% -
1992 -2.23% -
1991 -2.27% -
1990 -2.64% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/bahamas/cape-verde | CC BY

In 2024, the Bahamas' government deficit, the difference between spending and revenue, was $190M, equivalent to 1.2% of GDP. This compares to Cape Verde's deficit of $28.9M, or 1.07% of GDP.

Over the past 31 years, the Bahamas recorded a fiscal deficit in 27 of those years, while Cape Verde ran a deficit in 31 years. On average, the Bahamas posted an annual deficit equal to 2.44% of GDP, compared to deficit of 6.02% of GDP for Cape Verde.

Inflation comparison by year

Inflation
Bahamas

Cape Verde
1x
Year Consumer prices inflation
Bahamas Cape Verde
2025 - 2.3%
2024 0.41% 1.1%
2023 3.05% 3.7%
2022 5.61% 7.9%
2021 2.9% 1.9%
2020 0.04% 0.6%
2019 2.49% 1.1%
2018 2.27% 1.3%
2017 1.52% 0.8%
2016 -0.35% -1.4%
2015 1.86% 0.1%
2014 1.51% -0.2%
2013 0.72% 1.5%
2012 1.97% 2.5%
2011 3.2% 4.5%
2010 1.34% 2.1%
2009 2.06% 1%
2008 4.49% 6.8%
2007 2.49% 4.4%
2006 2.39% 4.8%
2005 1.59% 0.4%
2004 0.98% -1.9%
2003 3.03% 1.2%
2002 2.17% 1.9%
2001 2.04% 3.7%
2000 1.61% -2.4%
1999 1.25% 4.3%
1998 1.34% 4.4%
1997 0.54% 8.6%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2024, retrieved 2026-07-08).

GeoRank.org/economy/bahamas/cape-verde | CC BY

Over the past 28 years, the Bahamas has recorded an average annual inflation rate of 1.95%, compared with 2.31% in Cape Verde. In 2024, inflation was 0.41% in the Bahamas and 2.3% in Cape Verde.

Balance of trade

Bahamas Cape Verde
Current account balance
-$1.05B
2024
$108M
2025
Current account balance ranking
120/190
2024
63/190
2025
Current account balance, % of GDP
-6.65%
2024
+3.53%
2025
Goods imports
$4.6B
2024
$1.29B
2025
Goods exports
$874M
2024
$344M
2025
Service imports
$2.47B
2024
$350M
2025
Service exports
$5.9B
2024
$940M
2025
Imports of goods and services, % of GDP
41.5%
2024
53.4%
2025
Exports of goods and services, % of GDP
37.8%
2024
42%
2025

Economic freedom indices

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

Bahamas Cape Verde
Economic freedom 65.1 71.4
Economic freedom ranking 66/197 32/197
Property rights 62.7 72.7
Government integrity 67.1 63.3
Judicial effectiveness 79.8 77.1
Tax burden 96.1 84.4
Government spending 83.8 79.5
Fiscal health 9.1 74.4
Business freedom 69.4 78.9
Labor freedom 66.5 59.5
Monetary freedom 77.2 80.4
Trade freedom 59.4 66.6
Investment freedom 50 60
Financial freedom 60 60

Economic freedom comparison by year

Bahamas
Cape Verde
1x
Year Economic freedom index
Bahamas Cape Verde
2026 65.1 71.4
2025 63.2 68.7
2024 62.5 62.9
2023 62.6 65.8
2022 68.7 66.7
2021 64.6 63.8
2020 64.5 63.6
2019 62.9 63.1
2018 63.3 60
2017 61.1 56.9
2016 70.9 66.5
2015 68.7 66.4
2014 69.8 66.1
2013 70.1 63.7
2012 68 63.5
2011 68 64.6
2010 67.3 61.8
2009 70.3 61.3
2008 71.1 57.9
2007 72 56.5
2006 72.3 58.6
2005 72.6 57.8
2004 72.1 58.1
2003 73.5 56.1
2002 74.4 57.6
2001 74.8 56.3
2000 73.9 51.9
1999 74.7 50.7
1998 74.5 48
1997 74.5 47.7
1996 74 49.7
1995 71.8 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/bahamas/cape-verde | CC BY

The Economic Freedom Index for the Bahamas is 65.1, ranking 66/197, compared to 71.4 for Cape Verde, ranking 32/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahamas Cape Verde
Services, % of GDP
77.2%
2024
67.9%
2025
Industry, % of GDP
9.63%
2024
10.7%
2025
Agriculture, forestry, and fishing, % of GDP
0.51%
2024
5.04%
2025
GNI, Atlas method
$14.9B
2024
$2.95B
2025
GNI per capita, PPP
$39,610
2024
$12,010
2025
Total reserves including gold
$2.63B
2024
$1.26B
2025
Total reserves ranking
123/177
2024
138/177
2025
Net foreign direct investment
-$77.6M
2024
-$130M
2025
Net inflows of foreign direct investment
$241M
2024
$110M
2024
Net outflows of foreign direct investment
$163M
2024
$20.8M
2024
Servicing debt to the IMF, % of GNI n/a
5.72%
2024
Poverty at national poverty lines
9.3%
2020
24.8%
2023
Gross capital formation, % of GDP
26.8%
2024
17.4%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/bahamas/cape-verde | 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 (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1994–1996, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)
  8. Central Intelligence Agency (CIA) (2020, retrieved 2026-07-08)

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.