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Economy of Bahamas vs Ecuador compared: GDP & Debt

Updated on by Georank team

The Bahamas has a GDP of $15.8B compared to $125B for Ecuador, ranking 140/197 and 62/197 by economy size, respectively.

The Bahamas has $11.5B in government debt (72.5% of GDP), compared to $67B (53.8% of GDP) in Ecuador.

Bahamas vs Ecuador GDP by year

Bahamas
Ecuador
1x
Year GDP, current $
Bahamas Ecuador
2024 $15,832,800,000 $124,676,074,700
2023 $15,271,300,000 $121,147,057,000
2022 $13,896,800,000 $116,133,121,000
2021 $12,037,000,000 $107,179,074,000
2020 $10,363,200,000 $95,865,473,000
2019 $13,277,000,000 $107,595,830,000
2018 $12,819,200,000 $107,478,961,000
2017 $12,446,900,000 $104,467,486,000
2016 $11,880,900,000 $97,671,433,000
2015 $11,837,600,000 $97,209,558,000
2014 $11,139,100,000 $102,717,794,000
2013 $10,475,300,000 $96,570,334,000
2012 $10,720,400,000 $87,735,048,000
2011 $10,070,450,000 $78,986,648,000
2010 $10,095,760,000 $68,151,329,000
2009 $9,981,960,000 $60,094,978,000
2008 $10,526,000,000 $61,139,438,000
2007 $10,618,340,000 $49,848,725,000
2006 $10,167,250,000 $45,690,762,000
2005 $9,836,200,000 $40,278,849,000
2004 $9,055,290,000 $35,194,947,000
2003 $8,870,090,000 $30,965,208,000
2002 $8,881,160,000 $27,054,197,000
2001 $8,317,830,000 $23,127,055,000
2000 $8,076,470,000 $17,539,454,727
1999 $7,683,870,000 $19,645,272,636
1998 $6,833,220,000 $27,981,896,948
1997 $6,332,360,000 $28,162,053,027
1996 $3,609,000,000 $25,226,393,197
1995 $3,429,000,000 $24,432,884,442
1994 $3,259,000,000 $22,708,673,337
1993 $3,092,000,000 $18,938,717,359
1992 $3,109,000,000 $18,094,238,119
1991 $3,111,160,000 $16,988,535,268
1990 $3,166,000,000 $15,239,272,612
1989 $3,062,000,000 $13,890,823,705
1988 $2,817,900,000 $13,051,881,851
1987 $2,713,999,900 $13,945,426,859
1986 $2,472,500,000 $15,314,138,472
1985 $2,320,699,900 $17,149,088,413
1984 $2,041,100,000 $16,912,509,092
1983 $1,732,800,000 $17,152,477,037
1982 $1,578,300,000 $19,929,846,396
1981 $1,426,500,000 $21,810,759,354
1980 $1,335,300,000 $17,881,508,242
1979 $1,139,800,100 $14,175,160,902
1978 $832,400,000 $11,922,497,876
1977 $713,000,000 $11,026,342,618
1976 $642,100,000 $9,091,921,030
1975 $596,200,000 $7,731,674,472
1974 $632,400,000 $6,599,257,044
1973 $670,900,000 $3,891,754,150
1972 $590,900,000 $3,185,986,087
1971 $573,400,000 $2,754,219,271
1970 $539,500,000 $2,862,503,139
1969 $538,700,000 $3,112,165,727
1968 $453,800,000 $2,582,179,864
1967 $398,000,000 $2,553,595,172
1966 $346,800,000 $2,429,308,639
1965 $300,272,048 $2,387,047,396
1964 $266,560,043 $2,244,146,103
1963 $237,650,038 $1,824,343,871
1962 $212,170,034 $1,518,207,703
1961 $190,022,030 $1,753,850,955
1960 $169,736,027 $2,069,464,937

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

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

GDP per capita in Bahamas vs Ecuador by year

Bahamas
GDP per capita

GDP per capita, PPP
Ecuador
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahamas Ecuador
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $39,455 $41,198 $6,875 $15,840
2023 $38,232 $39,090 $6,738 $15,919
2022 $34,957 $36,791 $6,516 $15,198
2021 $30,368 $31,065 $6,061 $13,507
2020 $26,179 $27,205 $5,464 $11,527
2019 $33,640 $36,116 $6,205 $12,543
2018 $32,642 $35,228 $6,304 $12,187
2017 $31,875 $34,282 $6,233 $11,793
2016 $30,617 $32,285 $5,918 $10,881
2015 $30,719 $32,138 $5,976 $10,878
2014 $29,137 $31,726 $6,406 $11,836
2013 $27,643 $30,294 $6,109 $11,296
2012 $28,552 $31,036 $5,634 $10,245
2011 $27,091 $30,074 $5,154 $9,769
2010 $27,473 $29,625 $4,520 $8,969
2009 $27,513 $29,197 $4,053 $8,662
2008 $29,392 $30,679 $4,195 $8,663
2007 $30,052 $31,232 $3,479 $8,112
2006 $29,185 $30,402 $3,244 $7,885
2005 $28,602 $29,143 $2,909 $7,457
2004 $26,650 $27,660 $2,586 $6,980
2003 $26,429 $27,031 $2,316 $6,475
2002 $26,782 $27,171 $2,059 $6,282
2001 $25,372 $26,351 $1,791 $5,999
2000 $24,940 $25,422 $1,382 $5,728
1999 $24,041 $24,184 $1,575 $5,638
1998 $21,667 $22,556 $2,284 $5,940
1997 $20,368 $21,606 $2,341 $5,793
1996 $11,784 $21,287 $2,136 $5,560
1995 $11,375 $20,377 $2,108 $5,469
1994 $10,991 $19,441 $1,997 $5,339
1993 $10,613 $18,781 $1,698 $5,112
1992 $10,873 $18,636 $1,655 $4,998
1991 $11,082 $19,296 $1,587 $4,887
1990 $11,473 $19,817 $1,455 $4,632
1989 $11,291 - $1,356 -
1988 $10,576 - $1,304 -
1987 $10,361 - $1,426 -
1986 $9,601 - $1,604 -
1985 $9,167 - $1,842 -
1984 $8,202 - $1,864 -
1983 $7,081 - $1,940 -
1982 $6,559 - $2,314 -
1981 $6,029 - $2,601 -
1980 $5,743 - $2,190 -
1979 $4,994 - $1,783 -
1978 $3,720 - $1,541 -
1977 $3,253 - $1,465 -
1976 $2,993 - $1,242 -
1975 $2,841 - $1,086 -
1974 $3,080 - $954 -
1973 $3,341 - $579 -
1972 $3,014 - $488 -
1971 $3,004 - $434 -
1970 $2,916 - $465 -
1969 $3,027 - $521 -
1968 $2,668 - $445 -
1967 $2,453 - $454 -
1966 $2,239 - $445 -
1965 $2,030 - $450 -
1964 $1,883 - $436 -
1963 $1,759 - $365 -
1962 $1,651 - $312 -
1961 $1,555 - $371 -
1960 $1,459 - $451 -

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

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

The Bahamas' GDP per capita is $39,455, ranking 30/197, compared to $6,875 in Ecuador, ranking 103/197. Adjusted for purchasing power (GDP per capita PPP), the Bahamas ranks 57th at $41,198, while Ecuador ranks 110th at $15,840.

Economic indicators

Bahamas Ecuador
Gross domestic product
$15.8B
2024
$125B
2024
GDP rank
140/197
2024
62/197
2024
GDP growth
3.38%
2023-2024
-2%
2023-2024
GDP per capita
$39,455
2024
$6,875
2024
GDP per capita rank
30/197
2024
103/197
2024
GDP per capita, PPP
$41,198
2024
$15,840
2024
GDP per capita PPP rank
57/197
2024
110/197
2024
Government debt
$11.5B
2024
$67B
2024
Debt-to-GDP ratio
72.5%
2024
53.8%
2024
Government debt per person
$28,616
2024
$3,695
2024
Government debt per person rank
25/185
2024
93/185
2024
Average annual personal income after taxes
$29,535
2026
$5,894
2026
Market capitalization of domestic companies n/a
$747M
2000
Income share by richest 10% n/a
33.4%
2024
Income share by poorest 10% n/a
1.5%
2024
Government expenditure, % of GDP
20.6%
2024
38.1%
2024
Consumer prices inflation
0.41%
2023-2024
1.55%
2023-2024
Central bank interest rate
4%
2016
n/a
Unemployment rate
8.65%
2023
3.39%
2024
Population
405203
18487749

Spending and national debt comparison by year

Bahamas
Spending

Debt
Ecuador
Spending

Debt
1x
Year % of GDP
Bahamas Ecuador
Government spending Government debt Government spending Government debt
2024 20.6% 72.5% 38.1% 53.8%
2023 22.2% 74.8% 39.5% 54.3%
2022 23.9% 79.1% 38.9% 57.2%
2021 26.9% 84.5% 37.5% 61.8%
2020 28.2% 81.9% 40.2% 63.6%
2019 19.9% 59.3% 39.8% 52.1%
2018 19.2% 60.6% 40.9% 49.5%
2017 22.5% 53.4% 40.5% 47.4%
2016 19.4% 51% 44.1% 46.1%
2015 17.9% 48.5% 44.1% 36.4%
2014 17.6% 46.3% 45.9% 28.2%
2013 18.4% 44.8% 46.7% 23.4%
2012 16.5% 36.4% 43.2% 19.3%
2011 17.1% 35.3% 39.6% 18.6%
2010 15.3% 33.7% 35.4% 18.4%
2009 15.6% 30.9% 34.3% 19.7%
2008 14.4% 25.5% 35.6% 24.9%
2007 13.3% 23% 24.7% 29.6%
2006 13% 22.8% 21.7% 33.1%
2005 12.3% 22% 22% 35.8%
2004 12.4% 21.4% 21.3% 40.2%
2003 11.8% 20.9% 21.3% 47.2%
2002 11.3% 18.8% 22.8% 55%
2001 11.2% 18.2% 21.4% 63.8%
2000 11.3% 18.7% 24.3% 92.2%
1999 8.78% 18.7% 24.1% 105.2%
1998 11.6% 20% 21.5% 70.3%
1997 12.5% 20.8% 22% 61.5%
1996 11.2% 20.2% 22.7% 69.3%
1995 11.2% 20.5% 22% 70.5%
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 (1995–2000, retrieved 2026-02-20).

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

In 2024, the Bahamas' government spending was $3.26B, accounting for 20.6% of its GDP, while Ecuador spent $47.5B, or 38.1% of GDP.

Debt-to-GDP ratio is 72.5% in the Bahamas and 53.8% in Ecuador, ranking 53/185 and 98/185, respectively.

Government deficit by year

Deficit/surplus
Bahamas

Ecuador
1x
Year Deficit/surplus, % of GDP
Bahamas Ecuador
2024 -1.18% -1.28%
2023 -3.49% -3.48%
2022 -5.16% 0.04%
2021 -11.1% -1.59%
2020 -8.09% -7.38%
2019 -1.65% -3.47%
2018 -3.24% -2.8%
2017 -5.92% -5.77%
2016 -2.61% -10.3%
2015 -3.24% -6.87%
2014 -4.38% -8.11%
2013 -5.16% -8.17%
2012 -3.15% -2.83%
2011 -2.87% -0.13%
2010 -2.56% -1.39%
2009 -2.45% -3.71%
2008 -0.83% 0.57%
2007 -0.76% 2.66%
2006 -0.43% 2.92%
2005 -1.11% 0.66%
2004 -1.93% 1.94%
2003 -1.63% 1.05%
2002 -1.62% 0.74%
2001 0.3% 0.03%
2000 0.09% -0.32%
1999 1.68% -4.82%
1998 -0.41% -5.1%
1997 -1.56% -2.83%
1996 -0.15% -3.44%
1995 0.18% -2.02%
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/ecuador | 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 Ecuador's deficit of $1.59B, or 1.28% of GDP.

Over the past 30 years, the Bahamas recorded a fiscal deficit in 26 of those years, while Ecuador ran a deficit in 21 years. On average, the Bahamas posted an annual deficit equal to 2.48% of GDP, compared to deficit of 2.51% of GDP for Ecuador.

Inflation comparison by year

Inflation
Bahamas

Ecuador
1x
Year Consumer prices inflation
Bahamas Ecuador
2024 0.41% 1.55%
2023 3.05% 2.22%
2022 5.61% 3.47%
2021 2.9% 0.13%
2020 0.04% -0.34%
2019 2.49% 0.27%
2018 2.27% -0.22%
2017 1.52% 0.42%
2016 -0.35% 1.73%
2015 1.86% 3.97%
2014 1.51% 3.59%
2013 0.72% 2.72%
2012 1.97% 5.1%
2011 3.2% 4.47%
2010 1.34% 3.55%
2009 2.06% 5.16%
2008 4.49% 8.4%
2007 2.49% 2.28%
2006 2.39% 3.3%
2005 1.59% 2.17%
2004 0.98% 2.74%
2003 3.03% 7.93%
2002 2.17% 12.5%
2001 2.04% 37.7%
2000 1.61% 96.1%
1999 1.25% 52.2%
1998 1.34% 36.1%
1997 0.54% 30.7%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, the Bahamas has recorded an average annual inflation rate of 1.95%, compared with 11.8% in Ecuador. In 2024, inflation was 0.41% in the Bahamas and 1.55% in Ecuador.

Top exports between countries

Bahamas
Export category Export value
Ecuador
Export category Export value
Raw materials & minerals $21.3M
Animal & marine products $3.72M
Machinery & equipment $877K
Processed food, beverages & tobacco $827K
Textiles & consumer goods $376K
Wood & paper products $270K
Miscellaneous $29K
Chemicals & pharma $20K
Precious metals & jewellery $16K
Raw agricultural goods $5K

Balance of trade

Bahamas Ecuador
Current account balance
-$1.05B
2024
$7.06B
2024
Current account balance ranking
127/190
2024
27/190
2024
Current account balance, % of GDP
-6.65%
2024
+5.66%
2024
Goods imports
$4.6B
2024
$27.9B
2024
Goods exports
$874M
2024
$34.7B
2024
Service imports
$2.47B
2024
$6.18B
2024
Service exports
$5.9B
2024
$3.86B
2024
Imports of goods and services, % of GDP
41.5%
2024
26.9%
2024
Exports of goods and services, % of GDP
37.8%
2024
30.3%
2024

Economic freedom indices

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

Bahamas Ecuador
Economic freedom 65.1 55.6
Economic freedom ranking 66/197 127/197
Property rights 62.7 33.2
Government integrity 67.1 33
Judicial effectiveness 79.8 48.1
Tax burden 96.1 74.2
Government spending 83.8 54.9
Fiscal health 9.1 90.3
Business freedom 69.4 64.3
Labor freedom 66.5 56.9
Monetary freedom 77.2 76.3
Trade freedom 59.4 66.4
Investment freedom 50 30
Financial freedom 60 40

Economic freedom comparison by year

Bahamas
Ecuador
1x
Year Economic freedom index
Bahamas Ecuador
2026 65.1 55.6
2025 63.2 55.8
2024 62.5 55
2023 62.6 55
2022 68.7 54.3
2021 64.6 52.4
2020 64.5 51.3
2019 62.9 46.9
2018 63.3 48.5
2017 61.1 49.3
2016 70.9 48.6
2015 68.7 49.2
2014 69.8 48
2013 70.1 46.9
2012 68 48.3
2011 68 47.1
2010 67.3 49.3
2009 70.3 52.5
2008 71.1 55.2
2007 72 55.3
2006 72.3 54.6
2005 72.6 52.9
2004 72.1 54.4
2003 73.5 54.1
2002 74.4 53.1
2001 74.8 55.1
2000 73.9 59.8
1999 74.7 62.9
1998 74.5 62.8
1997 74.5 61
1996 74 60.1
1995 71.8 57.7

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

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

The Economic Freedom Index for the Bahamas is 65.1, ranking 66/197, compared to 55.6 for Ecuador, ranking 127/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahamas Ecuador
Services, % of GDP
77.2%
2024
57.2%
2024
Industry, % of GDP
9.63%
2024
26.5%
2024
Agriculture, forestry, and fishing, % of GDP
0.51%
2024
9.48%
2024
GNI, Atlas method
$14.9B
2024
$117B
2024
GNI per capita, PPP
$39,550
2024
$15,410
2024
Total reserves including gold
$2.51B
2023
$6.91B
2024
Total reserves ranking
122/177
2023
87/177
2024
Net foreign direct investment
-$77.6M
2024
-$438M
2024
Net inflows of foreign direct investment
$241M
2024
$443M
2024
Net outflows of foreign direct investment
$163M
2024
$0
2024
Servicing debt to the IMF, % of GNI n/a
7%
2024
Poverty at national poverty lines
9.3%
2020
28%
2024
Gross capital formation, % of GDP
26.8%
2024
18.5%
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/ecuador | 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. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2023–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1995–2000, retrieved 2026-02-20)
  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.