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Economy of Bahamas vs Costa Rica compared: GDP & Debt

Updated on by Georank

The Bahamas has a GDP of $15.8B compared to $103B for Costa Rica, ranking 145/197 and 74/197 by economy size, respectively.

The Bahamas has $11.7B in government debt (73.8% of GDP), compared to $62.2B (60.4% of GDP) in Costa Rica.

Bahamas vs Costa Rica GDP by year

Bahamas
Costa Rica
1x
Year GDP, current $
Bahamas Costa Rica
2025 - $102,904,921,157
2024 $15,832,800,000 $96,715,644,331
2023 $15,271,300,000 $87,512,637,056
2022 $13,896,800,000 $71,001,226,361
2021 $12,037,000,000 $65,588,938,787
2020 $10,363,200,000 $62,806,591,555
2019 $13,277,000,000 $64,753,504,730
2018 $12,819,200,000 $62,567,765,946
2017 $12,446,900,000 $60,516,044,661
2016 $11,880,900,000 $58,847,019,588
2015 $11,837,600,000 $56,441,920,888
2014 $11,139,100,000 $52,016,408,816
2013 $10,475,300,000 $50,949,668,763
2012 $10,720,400,000 $47,231,655,493
2011 $10,070,450,000 $42,762,613,785
2010 $10,095,760,000 $37,658,616,966
2009 $9,981,960,000 $30,745,714,234
2008 $10,526,000,000 $30,801,745,703
2007 $10,618,340,000 $26,884,700,688
2006 $10,167,250,000 $22,715,540,342
2005 $9,836,200,000 $20,040,642,421
2004 $9,055,290,000 $18,610,594,844
2003 $8,870,090,000 $17,271,760,397
2002 $8,881,160,000 $16,578,820,799
2001 $8,317,830,000 $15,976,174,476
2000 $8,076,470,000 $15,013,629,579
1999 $7,683,870,000 $14,254,866,284
1998 $6,833,220,000 $13,684,255,998
1997 $6,332,360,000 $12,614,602,322
1996 $3,609,000,000 $11,678,424,727
1995 $3,429,000,000 $11,578,594,333
1994 $3,259,000,000 $10,489,903,834
1993 $3,092,000,000 $9,564,816,063
1992 $3,109,000,000 $8,579,754,953
1991 $3,111,160,000 $7,215,725,635
1990 $3,166,000,000 $5,711,687,787
1989 $3,062,000,000 $5,251,025,767
1988 $2,817,900,000 $4,614,629,898
1987 $2,713,999,900 $4,532,952,047
1986 $2,472,500,000 $4,418,983,871
1985 $2,320,699,900 $3,919,203,960
1984 $2,041,100,000 $3,660,477,856
1983 $1,732,800,000 $3,146,772,631
1982 $1,578,300,000 $2,606,623,555
1981 $1,426,500,000 $2,623,803,096
1980 $1,335,300,000 $4,831,447,001
1979 $1,139,800,100 $4,035,519,323
1978 $832,400,000 $3,523,208,810
1977 $713,000,000 $3,072,427,013
1976 $642,100,000 $2,412,555,426
1975 $596,200,000 $1,960,863,466
1974 $632,400,000 $1,666,544,754
1973 $670,900,000 $1,528,925,846
1972 $590,900,000 $1,238,251,696
1971 $573,400,000 $1,077,147,538
1970 $539,500,000 $984,830,158
1969 $538,700,000 $853,630,204
1968 $453,800,000 $773,841,494
1967 $398,000,000 $699,456,619
1966 $346,800,000 $647,305,630
1965 $300,272,048 $592,981,162
1964 $266,560,043 $542,578,367
1963 $237,650,038 $511,902,137
1962 $212,170,034 $479,180,824
1961 $190,022,030 $490,325,182
1960 $169,736,027 $507,513,830

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/bahamas/costa-rica | CC BY

GDP per capita in Bahamas vs Costa Rica by year

Bahamas
GDP per capita

GDP per capita, PPP
Costa Rica
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahamas Costa Rica
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 - - $19,970 -
2024 $39,455 $41,198 $18,853 $31,107
2023 $38,232 $39,090 $17,141 $28,909
2022 $34,957 $36,791 $13,972 $26,226
2021 $30,368 $31,065 $12,962 $23,853
2020 $26,179 $27,205 $12,476 $22,100
2019 $33,640 $36,116 $12,952 $23,340
2018 $32,642 $35,228 $12,620 $21,498
2017 $31,875 $34,282 $12,317 $20,499
2016 $30,617 $32,285 $12,091 $19,202
2015 $30,719 $32,138 $11,715 $17,525
2014 $29,137 $31,726 $10,911 $16,394
2013 $27,643 $30,294 $10,803 $15,232
2012 $28,552 $31,036 $10,127 $14,464
2011 $27,091 $30,074 $9,276 $13,614
2010 $27,473 $29,625 $8,266 $12,928
2009 $27,513 $29,197 $6,833 $12,274
2008 $29,392 $30,679 $6,937 $12,472
2007 $30,052 $31,232 $6,138 $11,842
2006 $29,185 $30,402 $5,257 $10,800
2005 $28,602 $29,143 $4,703 $9,899
2004 $26,650 $27,660 $4,431 $9,365
2003 $26,429 $27,031 $4,173 $8,863
2002 $26,782 $27,171 $4,068 $8,461
2001 $25,372 $26,351 $3,985 $8,190
2000 $24,940 $25,422 $3,813 $7,879
1999 $24,041 $24,184 $3,691 $7,563
1998 $21,667 $22,556 $3,617 $7,306
1997 $20,368 $21,606 $3,408 $6,890
1996 $11,784 $21,287 $3,227 $6,568
1995 $11,375 $20,377 $3,275 $6,515
1994 $10,991 $19,441 $3,040 $6,276
1993 $10,613 $18,781 $2,840 $6,025
1992 $10,873 $18,636 $2,612 $5,635
1991 $11,082 $19,296 $2,253 $5,175
1990 $11,473 $19,817 $1,830 $5,021
1989 $11,291 - $1,725 -
1988 $10,576 - $1,555 -
1987 $10,361 - $1,567 -
1986 $9,601 - $1,569 -
1985 $9,167 - $1,429 -
1984 $8,202 - $1,372 -
1983 $7,081 - $1,213 -
1982 $6,559 - $1,032 -
1981 $6,029 - $1,068 -
1980 $5,743 - $2,021 -
1979 $4,994 - $1,735 -
1978 $3,720 - $1,556 -
1977 $3,253 - $1,393 -
1976 $2,993 - $1,123 -
1975 $2,841 - $937 -
1974 $3,080 - $817 -
1973 $3,341 - $769 -
1972 $3,014 - $639 -
1971 $3,004 - $570 -
1970 $2,916 - $536 -
1969 $3,027 - $477 -
1968 $2,668 - $445 -
1967 $2,453 - $414 -
1966 $2,239 - $395 -
1965 $2,030 - $374 -
1964 $1,883 - $354 -
1963 $1,759 - $346 -
1962 $1,651 - $335 -
1961 $1,555 - $356 -
1960 $1,459 - $382 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/bahamas/costa-rica | CC BY

The Bahamas' GDP per capita is $39,455, ranking 30/197, compared to $19,970 in Costa Rica, ranking 59/197. Adjusted for purchasing power (GDP per capita PPP), the Bahamas ranks 57th at $41,198, while Costa Rica ranks 72nd at $31,107.

Economic indicators

Bahamas Costa Rica
Gross domestic product
$15.8B
2024
$103B
2025
GDP rank
145/197
2024
74/197
2025
GDP growth
3.38%
2023-2024
4.56%
2024-2025
GDP per capita
$39,455
2024
$19,970
2025
GDP per capita rank
30/197
2024
59/197
2025
GDP per capita, PPP
$41,198
2024
$31,107
2024
GDP per capita PPP rank
57/197
2024
72/197
2024
Government debt
$11.7B
2024
$62.2B
2025
Debt-to-GDP ratio
73.8%
2025
60.4%
2025
Government debt per person
$29,123
2024
$12,064
2025
Government debt per person rank
25/185
2024
51/185
2025
Average annual personal income after taxes
$36,621
2026
$12,879
2026
Market capitalization of domestic companies n/a
$2.23B
2022
Income share by richest 10% n/a
34.3%
2025
Income share by poorest 10% n/a
1.8%
2025
Government expenditure, % of GDP
21.5%
2025
17.8%
2025
Consumer prices inflation
0.41%
2023-2024
-0.07%
2024-2025
Central bank interest rate
4%
2016
3.5%
2025
Unemployment rate
10.3%
2023
6.34%
2025
Population
405486
5186356

Spending and national debt comparison by year

Bahamas
Spending

Debt
Costa Rica
Spending

Debt
1x
Year % of GDP
Bahamas Costa Rica
Government spending Government debt Government spending Government debt
2025 21.5% 73.8% 17.8% 60.4%
2024 21% 73.8% 18.6% 58.9%
2023 23.2% 78.3% 18.3% 60.4%
2022 25.6% 84.7% 18.7% 61.4%
2021 28.9% 90.7% 20.6% 67%
2020 24.8% 71.9% 22.1% 66.5%
2019 20.3% 60.3% 21.6% 56.1%
2018 19.4% 61.5% 18.9% 51.7%
2017 23.1% 54.6% 19.2% 47.1%
2016 19.4% 51.1% 18.8% 44.1%
2015 18.4% 49.9% 18.8% 39.8%
2014 18.1% 47.7% 18.4% 37.4%
2013 18.1% 44.2% 18.5% 35.1%
2012 17% 37.6% 17.3% 33.7%
2011 17.1% 35.3% 17.2% 29.5%
2010 15.4% 33.9% 18% 28.1%
2009 15.2% 30.1% 16.7% 26%
2008 14.3% 25.3% 15.2% 24%
2007 13.6% 23.5% 14.6% 27%
2006 13.2% 23.2% 15.2% 33%
2005 12.9% 23% 15.9% 37.3%
2004 12.5% 21.6% 17% 41%
2003 11.8% 20.8% 17.6% 40.6%
2002 11.6% 19.4% 18.6% 41.4%
2001 11.4% 18.5% 17.3% 39.6%
2000 11.6% 19.2% 16.9% 38.9%
1999 9.3% 19.8% 16.7% 39%
1998 12% 20.8% 16% 40.7%
1997 12.9% 21.5% 16.3% 30.6%
1996 11.5% 20.7% 17.3% 33.7%
1995 11.5% 21% 16.4% 29.1%
1994 11.7% 20.9% 17.4% 27%
1993 11.5% 19.7% 13.8% 24.4%
1992 11.8% 17.9% 13.7% 23.3%
1991 11.9% 15.3% 14% 28.4%
1990 11.4% 13.2% 18.9% 18.5%
1989 - - 26.1% 19.3%
1988 - - 24.5% 18.2%
1987 - - 27.2% 21.2%
1986 - - 26.4% 26.1%
1985 - - 21.8% 22.8%
1984 - - 22.8% 25.2%
1983 - - 23.6% 29.8%
1982 - - 18.4% 31.8%
1981 - - 21% 32.3%
1980 - - 25% 37.7%
1979 - - 24.9% 39.5%
1978 - - 23.2% 41.7%
1977 - - 19.3% 27.8%
1976 - - 20.1% 29.5%
1975 - - 19.1% 26.1%
1974 - - 18.3% 30.3%
1973 - - 18.4% 32.8%
1972 - - 17.2% 31.8%
1971 - - 17.5% 30.4%
1970 - - 14.9% 28.6%
1969 - - 14.5% 26.1%
1968 - - 13.8% 27.7%
1967 - - 14.7% 26.7%
1966 - - 14.3% 24.8%
1965 - - 13.8% 24.1%
1964 - - 13.5% 22.7%
1963 - - 13.3% 21.8%
1962 - - 14% 19.7%
1961 - - 13.2% 20.3%
1960 - - 12.5% 16.1%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1995, retrieved 2026-07-08).

GeoRank.org/economy/bahamas/costa-rica | CC BY

In 2025, the Bahamas' government spending was $3.32B, accounting for 21.5% of its GDP, while Costa Rica spent $18.3B, or 17.8% of GDP.

Debt-to-GDP ratio is 73.8% in the Bahamas and 60.4% in Costa Rica, ranking 52/185 and 77/185, respectively.

Government deficit by year

Deficit/surplus
Bahamas

Costa Rica
1x
Year Deficit/surplus, % of GDP
Bahamas Costa Rica
2025 -0.49% -3.35%
2024 -1.2% -3.73%
2023 -3.65% -3.21%
2022 -5.53% -2.74%
2021 -11.9% -5.04%
2020 -7.11% -8.32%
2019 -1.68% -6.65%
2018 -3.28% -5.65%
2017 -6.05% -5.88%
2016 -2.61% -5.09%
2015 -3.34% -5.52%
2014 -4.51% -5.45%
2013 -5.1% -5.25%
2012 -3.25% -4.22%
2011 -2.87% -3.91%
2010 -2.57% -4.96%
2009 -2.39% -3.25%
2008 -0.82% 0.18%
2007 -0.77% 0.56%
2006 -0.44% -1.04%
2005 -1.16% -2.09%
2004 -1.95% -3.42%
2003 -1.63% -3.43%
2002 -1.67% -4.99%
2001 0.3% -3.47%
2000 0.09% -3.68%
1999 1.78% -2.88%
1998 -0.43% -2.96%
1997 -1.6% -3.39%
1996 -0.15% -4.32%
1995 0.18% -3.68%
1994 -0.4% -5.46%
1993 -1.05% -1.52%
1992 -2.23% -1.51%
1991 -2.27% -2.41%
1990 -2.64% -4.4%
1989 - -1.55%
1988 - 0.57%
1987 - -2.57%
1986 - -4.26%
1985 - -1.06%
1984 - -0.5%
1983 - -1.84%
1982 - -0.94%
1981 - -3.14%
1980 - -7.24%
1979 - -6.6%
1978 - -4.12%
1977 - -2.63%
1976 - -2.42%
1975 - -1.13%
1974 - 0.26%
1973 - -2.41%
1972 - -4.54%
1971 - -4.72%
1970 - -1.41%
1969 - -1.61%
1968 - -1.72%
1967 - -3.03%
1966 - -2.12%
1965 - -1.71%
1964 - -1.51%
1963 - -2.01%
1962 - -1.99%
1961 - -0.71%
1960 - -0.19%
1959 - 0.49%
1958 - 0%
1957 - 0.3%
1956 - 0.05%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1956–1989, retrieved 2026-07-08).

GeoRank.org/economy/bahamas/costa-rica | 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 Costa Rica's deficit of $3.61B, or 3.73% of GDP.

Over the past 35 years, the Bahamas recorded a fiscal deficit in 31 of those years, while Costa Rica ran a deficit in 33 years. On average, the Bahamas posted an annual deficit equal to 2.4% of GDP, compared to deficit of 3.79% of GDP for Costa Rica.

Inflation comparison by year

Inflation
Bahamas

Costa Rica
1x
Year Consumer prices inflation
Bahamas Costa Rica
2025 - -0.07%
2024 0.41% -0.41%
2023 3.05% 0.53%
2022 5.61% 8.27%
2021 2.9% 1.73%
2020 0.04% 0.72%
2019 2.49% 2.1%
2018 2.27% 2.22%
2017 1.52% 1.63%
2016 -0.35% -0.02%
2015 1.86% 0.8%
2014 1.51% 4.52%
2013 0.72% 5.23%
2012 1.97% 4.5%
2011 3.2% 4.88%
2010 1.34% 5.66%
2009 2.06% 7.84%
2008 4.49% 13.4%
2007 2.49% 9.36%
2006 2.39% 11.5%
2005 1.59% 13.8%
2004 0.98% 12.3%
2003 3.03% 9.45%
2002 2.17% 9.17%
2001 2.04% 11.3%
2000 1.61% 11%
1999 1.25% 10%
1998 1.34% 11.7%
1997 0.54% 13.2%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/bahamas/costa-rica | CC BY

Over the past 28 years, the Bahamas has recorded an average annual inflation rate of 1.95%, compared with 6.66% in Costa Rica. In 2024, inflation was 0.41% in the Bahamas and -0.07% in Costa Rica.

Top exports between countries

Bahamas
Export category Export value
Machinery & equipment $4.75M
Metals $1K
Costa Rica
Export category Export value
Processed food, beverages & tobacco $14.6M
Textiles & consumer goods $2.18M
Chemicals & pharma $793K
Metals $433K
Machinery & equipment $412K
Raw materials & minerals $52K
Raw agricultural goods $46K
Wood & paper products $42K
Precious metals & jewellery $3K
Miscellaneous $1K

Balance of trade

Bahamas Costa Rica
Current account balance
-$1.05B
2024
-$687M
2025
Current account balance ranking
120/190
2024
108/190
2025
Current account balance, % of GDP
-6.65%
2024
-0.67%
2025
Goods imports
$4.6B
2024
$24.4B
2025
Goods exports
$874M
2024
$23.5B
2025
Service imports
$2.47B
2024
$8.64B
2025
Service exports
$5.9B
2024
$18.1B
2025
Imports of goods and services, % of GDP
41.5%
2024
32.6%
2025
Exports of goods and services, % of GDP
37.8%
2024
38.8%
2025

Economic freedom indices

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

Bahamas Costa Rica
Economic freedom 65.1 69.1
Economic freedom ranking 66/197 43/197
Property rights 62.7 66
Government integrity 67.1 64.1
Judicial effectiveness 79.8 76.9
Tax burden 96.1 78.6
Government spending 83.8 89.3
Fiscal health 9.1 75.6
Business freedom 69.4 79.9
Labor freedom 66.5 55.9
Monetary freedom 77.2 78.2
Trade freedom 59.4 75
Investment freedom 50 50
Financial freedom 60 40

Economic freedom comparison by year

Bahamas
Costa Rica
1x
Year Economic freedom index
Bahamas Costa Rica
2026 65.1 69.1
2025 63.2 68.6
2024 62.5 67.7
2023 62.6 66.5
2022 68.7 65.4
2021 64.6 64.2
2020 64.5 65.8
2019 62.9 65.3
2018 63.3 65.6
2017 61.1 65
2016 70.9 67.4
2015 68.7 67.2
2014 69.8 66.9
2013 70.1 67
2012 68 68
2011 68 67.3
2010 67.3 65.9
2009 70.3 66.4
2008 71.1 64.2
2007 72 64
2006 72.3 65.9
2005 72.6 66.1
2004 72.1 66.4
2003 73.5 67
2002 74.4 67.5
2001 74.8 67.6
2000 73.9 68.4
1999 74.7 67.4
1998 74.5 65.6
1997 74.5 65.6
1996 74 66.4
1995 71.8 68

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

GeoRank.org/economy/bahamas/costa-rica | CC BY

The Economic Freedom Index for the Bahamas is 65.1, ranking 66/197, compared to 69.1 for Costa Rica, ranking 43/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahamas Costa Rica
Services, % of GDP
77.2%
2024
69.2%
2025
Industry, % of GDP
9.63%
2024
19.9%
2025
Agriculture, forestry, and fishing, % of GDP
0.51%
2024
3.37%
2025
GNI, Atlas method
$14.9B
2024
$92.4B
2025
GNI per capita, PPP
$39,610
2024
$30,760
2025
Total reserves including gold
$2.63B
2024
$17.1B
2025
Total reserves ranking
123/177
2024
70/177
2025
Net foreign direct investment
-$77.6M
2024
-$5.12B
2025
Net inflows of foreign direct investment
$241M
2024
$5.4B
2024
Net outflows of foreign direct investment
$163M
2024
$337M
2024
Servicing debt to the IMF, % of GNI n/a
6.31%
2023
Poverty at national poverty lines
9.3%
2020
17.1%
2025
Gross capital formation, % of GDP
26.8%
2024
15.8%
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/costa-rica | CC BY

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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. International Monetary Fund (IMF) | Public Finances in Modern History (1956–1995, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2021–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)
  9. 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.