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Economy of Bahamas vs China compared: GDP & Debt

Updated on by Georank team

The Bahamas has a GDP of $15.8B compared to $18.7T for China, ranking 140/197 and 2/197 by economy size, respectively.

The Bahamas has $12.3B in government debt (78.3% of GDP), compared to $16.6T (96.3% of GDP) in China.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Bahamas
GDP, current $

GDP, constant 2015 $
China
GDP, current $

GDP, constant 2015 $
Year GDP
Bahamas China
Current $ Constant $ Current $ Constant $
1960 $169,736,027 $2,184,283,332 $59,846,235,025 $161,023,131,028
1961 $190,022,030 $2,417,282,963 $50,162,299,350 $117,112,123,191
1962 $212,170,034 $2,669,936,699 $47,310,737,754 $110,577,266,728
1963 $237,650,038 $2,950,922,311 $50,812,227,919 $121,966,725,197
1964 $266,560,043 $3,260,815,401 $59,821,862,703 $144,140,275,830
1965 $300,272,048 $3,600,774,856 $70,565,994,356 $168,572,052,589
1966 $346,800,000 $3,927,434,584 $76,854,053,259 $186,524,976,187
1967 $398,000,000 $4,304,394,228 $73,011,350,596 $175,762,485,054
1968 $453,800,000 $4,666,900,132 $70,980,323,819 $168,556,223,190
1969 $538,700,000 $5,086,065,354 $79,847,786,729 $197,109,647,392
1970 $539,500,000 $4,798,720,488 $92,752,930,873 $235,151,809,332
1971 $573,400,000 $4,876,772,097 $99,959,013,880 $251,753,527,067
1972 $590,900,000 $4,706,214,993 $113,871,930,714 $261,345,336,449
1973 $670,900,000 $5,062,361,052 $138,764,340,892 $281,625,734,560
1974 $632,400,000 $4,214,201,484 $144,418,433,058 $288,131,289,037
1975 $596,200,000 $3,590,367,916 $163,687,619,736 $313,256,337,433
1976 $642,100,000 $3,776,535,134 $154,196,810,059 $308,338,212,930
1977 $713,000,000 $4,122,274,252 $175,226,595,860 $331,679,415,654
1978 $832,400,000 $4,706,792,960 $149,788,617,886 $369,245,353,261
1979 $1,139,800,100 $5,937,115,493 $178,573,913,043 $397,275,966,893
1980 $1,335,300,000 $6,322,747,882 $191,487,500,000 $428,399,142,253
1981 $1,426,500,000 $5,739,385,550 $196,218,253,968 $450,302,166,910
1982 $1,578,300,000 $6,123,861,119 $205,480,916,031 $491,096,319,837
1983 $1,732,800,000 $6,344,139,580 $231,130,268,199 $543,778,042,482
1984 $2,041,100,000 $7,243,177,030 $260,442,857,143 $626,609,364,484
1985 $2,320,699,900 $7,592,963,094 $310,064,625,850 $710,797,305,027
1986 $2,472,500,000 $7,729,408,658 $301,310,144,928 $774,307,505,788
1987 $2,713,999,900 $7,960,094,355 $273,455,156,951 $864,345,705,903
1988 $2,817,900,000 $8,143,949,264 $312,888,888,889 $961,347,723,725
1989 $3,062,000,000 $8,691,819,590 $348,380,566,802 $1,001,785,223,304
1990 $3,166,000,000 $8,553,076,499 $361,560,229,446 $1,041,271,896,196
1991 $3,111,160,000 $8,195,405,227 $384,510,452,962 $1,138,752,669,459
1992 $3,109,000,000 $7,881,883,256 $428,502,354,788 $1,301,589,870,245
1993 $3,092,000,000 $7,906,144,212 $446,557,291,212 $1,482,889,338,699
1994 $3,259,000,000 $8,155,102,050 $566,929,539,493 $1,676,743,149,158
1995 $3,429,000,000 $8,512,193,747 $738,190,896,228 $1,861,735,071,148
1996 $3,609,000,000 $8,871,708,834 $868,523,936,530 $2,047,465,483,837
1997 $6,332,360,000 $8,985,954,549 $967,753,570,435 $2,237,626,840,760
1998 $6,833,220,000 $9,409,803,923 $1,037,134,141,760 $2,414,864,610,328
1999 $7,683,870,000 $10,082,050,093 $1,103,843,203,576 $2,601,702,759,079
2000 $8,076,470,000 $10,500,295,806 $1,223,754,919,971 $2,825,096,197,800
2001 $8,317,830,000 $10,776,034,606 $1,355,036,590,252 $3,059,936,242,479
2002 $8,881,160,000 $11,067,521,627 $1,489,821,682,051 $3,342,778,183,071
2003 $8,870,090,000 $10,927,526,700 $1,683,903,309,844 $3,681,006,926,651
2004 $9,055,290,000 $11,023,948,327 $1,984,196,551,300 $4,053,944,733,454
2005 $9,836,200,000 $11,398,330,895 $2,317,551,298,052 $4,518,455,387,849
2006 $10,167,250,000 $11,685,180,403 $2,791,498,472,804 $5,091,154,930,758
2007 $10,618,340,000 $11,854,159,786 $3,604,055,822,572 $5,811,552,614,974
2008 $10,526,000,000 $11,578,710,831 $4,667,346,414,522 $6,373,544,042,638
2009 $9,981,960,000 $11,095,250,091 $5,189,577,094,998 $6,972,829,250,985
2010 $10,095,760,000 $11,265,968,542 $6,192,564,874,453 $7,711,689,202,853
2011 $10,070,450,000 $11,335,048,164 $7,671,757,207,851 $8,441,318,020,902
2012 $10,720,400,000 $11,847,406,408 $8,673,664,713,189 $9,104,482,675,356
2013 $10,475,300,000 $11,508,181,986 $9,743,124,247,267 $9,812,695,262,901
2014 $11,139,100,000 $11,720,773,316 $10,674,533,168,257 $10,544,908,798,424
2015 $11,837,600,000 $11,837,600,000 $11,280,814,787,469 $11,280,814,787,469
2016 $11,880,900,000 $11,700,725,733 $11,456,024,084,962 $12,045,152,668,727
2017 $12,446,900,000 $12,095,184,868 $12,537,559,062,283 $12,875,216,222,853
2018 $12,819,200,000 $12,385,290,297 $14,147,765,772,964 $13,745,158,275,137
2019 $13,277,000,000 $12,281,371,358 $14,560,167,101,283 $14,579,283,528,148
2020 $10,363,200,000 $9,814,098,451 $14,996,414,166,715 $14,920,466,234,565
2021 $12,037,000,000 $11,540,093,873 $18,201,698,719,564 $16,199,162,892,909
2022 $13,896,800,000 $12,795,362,393 $18,316,765,021,690 $16,706,875,253,649
2023 $15,271,300,000 $13,185,464,198 $18,270,356,654,533 $17,611,526,369,127
2024 $15,832,800,000 $13,630,935,977 $18,743,803,170,827 $18,488,114,837,769

Economic indicators

Bahamas China
Gross domestic product
$15.8B
2024
$18.7T
2024
GDP rank
140/197
2024
2/197
2024
GDP growth
3.68%
2023-2024
2.59%
2023-2024
GDP per capita
$39,455
2024
$13,303
2024
GDP per capita rank
30/197
2024
76/197
2024
GDP per capita, PPP
$41,198
2024
$27,105
2024
Government debt
$12.3B
2024
$16.6T
2024
Debt-to-GDP ratio
78.3%
2025
96.3%
2025
Government debt per person
$30,693
2024
$11,750
2024
Government debt per person rank
24/185
2024
48/185
2024
Average annual personal income after taxes
$25,682
2025
$9,060
2025
Market capitalization of domestic companies n/a
$11.8T
2024
Number of millionaires n/a
6,013,282
2024
Number of billionaires n/a
450
2025
Income share by richest 10% n/a
28.4%
2022
Income share by poorest 10% n/a
3.1%
2022
Government expenditure, % of GDP
23.8%
2025
33.7%
2025
Consumer prices inflation
0.41%
2023-2024
0%
2024-2025
Central bank interest rate
4%
2016
3.1%
2024
Unemployment rate
8.65%
2023
5.11%
2021
Population
404321
1405773318

GDP per capita in Bahamas vs China

The Bahamas' GDP per capita is $39,455, ranking 30/197, compared to $13,303 in China, ranking 76/197. Adjusted for purchasing power (GDP per capita PPP), the Bahamas ranks 56th at $41,198, while China ranks 77th at $27,105.

Bahamas
GDP per capita

GDP per capita, PPP
China
GDP per capita

GDP per capita, PPP
Year Current $
Bahamas China
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $1,459 - $89.7 -
1961 $1,555 - $76 -
1962 $1,651 - $71.1 -
1963 $1,759 - $74.5 -
1964 $1,883 - $85.7 -
1965 $2,030 - $98.7 -
1966 $2,239 - $104.5 -
1967 $2,453 - $96.8 -
1968 $2,668 - $91.6 -
1969 $3,027 - $100.3 -
1970 $2,916 - $113.3 -
1971 $3,004 - $118.8 -
1972 $3,014 - $132.1 -
1973 $3,341 - $157.3 -
1974 $3,080 - $160.4 -
1975 $2,841 - $178.6 -
1976 $2,993 - $165.7 -
1977 $3,253 - $185.7 -
1978 $3,720 - $156.7 -
1979 $4,994 - $184.3 -
1980 $5,743 - $195.1 -
1981 $6,029 - $197.4 -
1982 $6,559 - $203.7 -
1983 $7,081 - $225.9 -
1984 $8,202 - $251.2 -
1985 $9,167 - $295 -
1986 $9,601 - $282.4 -
1987 $10,361 - $252.3 -
1988 $10,576 - $284 -
1989 $11,291 - $311 -
1990 $11,473 $19,817 $319 $991
1991 $11,082 $19,296 $334 $1,105
1992 $10,873 $18,636 $368 $1,276
1993 $10,613 $18,781 $379 $1,471
1994 $10,991 $19,441 $476 $1,680
1995 $11,375 $20,377 $613 $1,884
1996 $11,784 $21,287 $713 $2,088
1997 $20,368 $21,606 $787 $2,297
1998 $21,667 $22,556 $835 $2,483
1999 $24,041 $24,184 $881 $2,690
2000 $24,940 $25,422 $969 $2,964
2001 $25,372 $26,351 $1,065 $3,258
2002 $26,782 $27,171 $1,164 $3,591
2003 $26,429 $27,031 $1,307 $4,007
2004 $26,650 $27,660 $1,531 $4,505
2005 $28,602 $29,143 $1,778 $5,148
2006 $29,185 $30,401 $2,129 $5,946
2007 $30,052 $31,232 $2,735 $6,935
2008 $29,392 $30,679 $3,523 $7,713
2009 $27,513 $29,197 $3,898 $8,448
2010 $27,473 $29,625 $4,629 $9,411
2011 $27,091 $30,074 $5,704 $10,457
2012 $28,552 $31,036 $6,405 $11,420
2013 $27,643 $30,294 $7,147 $12,228
2014 $29,137 $31,726 $7,781 $12,942
2015 $30,719 $32,138 $8,175 $13,463
2016 $30,617 $32,285 $8,255 $14,157
2017 $31,875 $34,282 $8,980 $15,022
2018 $32,642 $35,228 $10,086 $16,298
2019 $33,640 $36,116 $10,343 $17,601
2020 $26,179 $27,205 $10,627 $18,267
2021 $30,368 $31,065 $12,887 $20,843
2022 $34,957 $36,791 $12,971 $23,032
2023 $38,232 $39,090 $12,951 $25,179
2024 $39,455 $41,198 $13,303 $27,105

Spending and national debt comparison

In 2024, the Bahamas' government spending was $3.5B, accounting for 23.8% of its GDP, while China's spent $6.18T, or 33.7% of GDP.

Debt-to-GDP ratio is 78.3% in the Bahamas and 96.3% in China, ranking 45/185 and 26/185, respectively.

Bahamas
Government spending

Government debt
China
Government spending

Government debt
Year % of GDP
Bahamas China
Government spending Government debt Government spending Government debt
1982 - - 27.9% -
1983 - - 28.3% -
1984 - - 26.9% 0.97%
1985 - - 25.8% 3.31%
1986 - - 25.6% 3.24%
1987 - - 23.4% 3.6%
1988 - - 20.9% 4.46%
1989 - - 18.6% -
1990 11.4% 13.2% 18.2% -
1991 12% 15.4% 16.5% -
1992 11.8% 17.9% 14.6% -
1993 11.5% 19.8% 13.4% -
1994 11.4% 20.4% 12.4% -
1995 11.2% 20.5% 11.1% 21.4%
1996 11.2% 20.2% 11% 21.2%
1997 12.5% 20.8% 11.5% 20.4%
1998 11.6% 20% 12.6% 20.4%
1999 8.78% 18.7% 14.9% 21.6%
2000 11.3% 18.7% 16.1% 22.7%
2001 11.2% 18.2% 17.2% 24.3%
2002 11.3% 18.8% 18.2% 25.6%
2003 11.8% 20.9% 18% 26.4%
2004 12.4% 21.4% 17.6% 26%
2005 12.3% 22% 18% 25.9%
2006 13% 22.8% 18.1% 25.2%
2007 13.3% 23% 17.9% 28.7%
2008 14.4% 25.5% 22.2% 26.7%
2009 15.6% 30.9% 25.2% 34%
2010 15.3% 33.7% 24.7% 33.3%
2011 17.1% 35.3% 26.6% 33.2%
2012 16.5% 36.4% 27.7% 33.8%
2013 18.5% 45.1% 28.1% 36.4%
2014 17.8% 47% 28.4% 39.3%
2015 18.1% 49.2% 31% 40.8%
2016 19.6% 51.6% 31.7% 49.7%
2017 22.9% 54.3% 32% 53.9%
2018 19.5% 61.6% 32.6% 55.6%
2019 20.3% 60.5% 33.6% 59.4%
2020 29.3% 85.2% 34.8% 69%
2021 28.5% 89.4% 31.9% 70.1%
2022 25.3% 83.7% 32.6% 75.5%
2023 23.6% 79.7% 32.7% 82%
2024 22.1% 77.8% 32.9% 88.3%
2025 23.8% 78.3% 33.7% 96.3%

Government deficit by year

In 2024, the Bahamas' government deficit, the difference between spending and revenue, was -$200M, equivalent to -1.27% of GDP. This compares to China's deficit of -$1.38T, or -7.34% of GDP.

Over the past 35 years, the Bahamas recorded a fiscal deficit in 31 of those years, while China ran a deficit in 34 years. On average, the Bahamas posted an annual deficit equal to -2.43% of GDP, compared to deficit of -2.46% of GDP for China.

Deficit/surplus
Bahamas

China
Year Deficit/surplus, % of GDP
Bahamas China
1982 - -1.33%
1983 - -1.61%
1984 - -1.44%
1985 - -0.45%
1986 - -1.82%
1987 - -2.08%
1988 - -2.22%
1989 - -0.91%
1990 -2.64% -0.72%
1991 -2.29% -1.04%
1992 -2.23% -1.22%
1993 -1.05% -0.89%
1994 -0.39% -1.68%
1995 0.18% -0.94%
1996 -0.15% -0.73%
1997 -1.56% -0.73%
1998 -0.41% -1.08%
1999 1.68% -2.3%
2000 0.09% -2.81%
2001 0.3% -2.56%
2002 -1.62% -2.84%
2003 -1.63% -2.36%
2004 -1.93% -1.49%
2005 -1.11% -1.38%
2006 -0.43% -1.13%
2007 -0.76% 0.06%
2008 -0.83% -0.02%
2009 -2.45% -1.72%
2010 -2.56% -0.36%
2011 -2.87% -0.1%
2012 -3.15% -0.3%
2013 -5.2% -0.82%
2014 -4.44% -0.67%
2015 -3.28% -2.5%
2016 -2.64% -3.33%
2017 -6.02% -3.34%
2018 -3.29% -4.2%
2019 -1.68% -6%
2020 -8.42% -9.56%
2021 -11.7% -5.9%
2022 -5.46% -7.32%
2023 -3.72% -6.71%
2024 -1.27% -7.34%
2025 -1.53% -8.57%

Inflation comparison by year

Over the past 29 years, the Bahamas has recorded an average annual inflation rate of 1.93%, compared with 2.04% in China. In 2024, inflation was 0.41% in the Bahamas and 0% in China.

Inflation
Bahamas

China
Year Inflation
Bahamas China Bahamas China
1996 1.38% 8.3%
1997 0.54% 2.8%
1998 1.34% -0.8%
1999 1.25% -1.4%
2000 1.61% 0.4%
2001 2.04% 0.7%
2002 2.17% -0.8%
2003 3.03% 1.1%
2004 0.98% 3.9%
2005 1.59% 1.8%
2006 2.39% 1.5%
2007 2.49% 4.7%
2008 4.49% 5.9%
2009 2.06% -0.7%
2010 1.34% 3.3%
2011 3.2% 5.4%
2012 1.97% 2.6%
2013 0.72% 2.7%
2014 1.51% 2%
2015 1.86% 1.5%
2016 -0.35% 2%
2017 1.52% 1.6%
2018 2.27% 2.1%
2019 2.49% 2.9%
2020 0.04% 2.5%
2021 2.9% 0.9%
2022 5.61% 2%
2023 3.05% 0.2%
2024 0.41% 0.2%
2025 - 0%

Top exports between countries

Bahamas
Export category Export value
Animal & marine products $1.43M
Metals $79K
Machinery & equipment $47K
Precious metals & jewellery $11K
Textiles & consumer goods $1K
China
Export category Export value
Machinery & equipment $931M
Raw materials & minerals $218M
Metals $64.9M
Chemicals & pharma $25.7M
Textiles & consumer goods $21.9M
Wood & paper products $5.24M
Processed food, beverages & tobacco $2.09M
Miscellaneous $2.06M
Raw agricultural goods $288K
Precious metals & jewellery $265K

Balance of trade

Bahamas China
Current account balance
-$1.05B
2024
$424B
2024
Current account balance ranking
126/189
2024
1/189
2024
Current account balance, % of GDP
-6.65%
2024
+2.26%
2024
Goods imports
$4.6B
2024
$2.64T
2024
Goods exports
$874M
2024
$3.41T
2024
Service imports
$2.47B
2024
$613B
2024
Service exports
$5.9B
2024
$384B
2024
Imports of goods and services, % of GDP
41.5%
2024
17.2%
2024
Exports of goods and services, % of GDP
37.8%
2024
20%
2024

Economic freedom indices

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

Bahamas China
Economic freedom 63.2 49
Economic freedom ranking 79/197 167/197
Property rights 61.8 46.7
Government integrity 66.2 40.4
Judicial effectiveness 78.6 37.4
Tax burden 97.2 71.6
Government spending 77.2 67.1
Fiscal health 6.7 11.1
Business freedom 70 67.7
Labor freedom 68.8 57.9
Monetary freedom 72.9 74.6
Trade freedom 49 74
Investment freedom 50 20
Financial freedom 60 20

Economic freedom by year comparison

The Economic Freedom Index for the Bahamas is 63.2, ranking 79/197, compared to 49 for China, ranking 167/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Bahamas
China
Year Economic freedom index
Bahamas China
1995 71.8 52
1996 74 51.3
1997 74.5 51.7
1998 74.5 53.1
1999 74.7 54.8
2000 73.9 56.4
2001 74.8 52.6
2002 74.4 52.8
2003 73.5 52.6
2004 72.1 52.5
2005 72.6 53.7
2006 72.3 53.6
2007 72 52
2008 71.1 53.1
2009 70.3 53.2
2010 67.3 51
2011 68 52
2012 68 51.2
2013 70.1 51.9
2014 69.8 52.5
2015 68.7 52.7
2016 70.9 52
2017 61.1 57.4
2018 63.3 57.8
2019 62.9 58.4
2020 64.5 59.5
2021 64.6 58.4
2022 68.7 48
2023 62.6 48.3
2024 62.5 48.5
2025 63.2 49

More economic indicators

Bahamas China
Services, % of GDP
77.2%
2024
56.7%
2024
Industry, % of GDP
9.63%
2024
36.5%
2024
Agriculture, forestry, and fishing, % of GDP
0.51%
2024
6.78%
2024
GNI, Atlas method
$14.2B
2023
$19.3T
2024
GNI per capita, PPP
$37,560
2023
$26,920
2024
Total reserves including gold
$2.51B
2023
$3.46T
2024
Total reserves ranking
122/177
2023
1/177
2024
Net foreign direct investment
-$77.6M
2024
$154B
2024
Net inflows of foreign direct investment
$241M
2024
$18.6B
2024
Net outflows of foreign direct investment
$163M
2024
$172B
2024
Servicing debt to the IMF, % of GNI
n/a
2.13%
2023
Poverty at national poverty lines
9.3%
2020
0%
2020
Gross capital formation, % of GDP
26.8%
2024
41.1%
2023

GDP per capita map

GDP per capita

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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.