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Economy of Bahamas vs Georgia compared: GDP & Debt

Updated on by Georank team

The Bahamas has a GDP of $15.8B compared to $34.2B for Georgia, ranking 140/197 and 107/197 by economy size, respectively.

The Bahamas has $11.5B in government debt (72.5% of GDP), compared to $12.3B (36.1% of GDP) in Georgia.

Bahamas vs Georgia GDP by year

Bahamas
Georgia
1x
Year GDP, current $
Bahamas Georgia
2024 $15,832,800,000 $34,189,423,545
2023 $15,271,300,000 $30,777,833,601
2022 $13,896,800,000 $24,984,568,960
2021 $12,037,000,000 $18,853,115,589
2020 $10,363,200,000 $16,010,869,216
2019 $13,277,000,000 $17,638,337,117
2018 $12,819,200,000 $17,902,544,881
2017 $12,446,900,000 $16,473,125,375
2016 $11,880,900,000 $15,444,548,902
2015 $11,837,600,000 $15,223,796,149
2014 $11,139,100,000 $17,966,015,109
2013 $10,475,300,000 $17,517,660,144
2012 $10,720,400,000 $16,894,392,033
2011 $10,070,450,000 $15,475,290,469
2010 $10,095,760,000 $12,426,907,967
2009 $9,981,960,000 $10,766,920,066
2008 $10,526,000,000 $12,795,145,131
2007 $10,618,340,000 $10,172,931,089
2006 $10,167,250,000 $7,745,250,734
2005 $9,836,200,000 $6,410,912,050
2004 $9,055,290,000 $5,125,365,192
2003 $8,870,090,000 $3,991,377,904
2002 $8,881,160,000 $3,395,766,678
2001 $8,317,830,000 $3,219,462,262
2000 $8,076,470,000 $3,057,475,335
1999 $7,683,870,000 $2,800,025,883
1998 $6,833,220,000 $3,613,497,317
1997 $6,332,360,000 $3,510,520,231
1996 $3,609,000,000 $3,094,936,177
1995 $3,429,000,000 $2,693,732,612
1994 $3,259,000,000 $2,513,867,645
1993 $3,092,000,000 $2,701,181,331
1992 $3,109,000,000 $3,690,328,964
1991 $3,111,160,000 $6,324,503,311
1990 $3,166,000,000 $7,735,927,264
1989 $3,062,000,000 $8,902,632,715
1988 $2,817,900,000 $8,833,588,173
1987 $2,713,999,900 $7,321,981,334
1986 $2,472,500,000 -
1985 $2,320,699,900 -
1984 $2,041,100,000 -
1983 $1,732,800,000 -
1982 $1,578,300,000 -
1981 $1,426,500,000 -
1980 $1,335,300,000 -
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/georgia | CC BY

GDP per capita in Bahamas vs Georgia by year

Bahamas
GDP per capita

GDP per capita, PPP
Georgia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahamas Georgia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $39,455 $41,198 $9,241 $28,285
2023 $38,232 $39,090 $8,284 $25,072
2022 $34,957 $36,791 $6,730 $22,461
2021 $30,368 $31,065 $5,084 $18,916
2020 $26,179 $27,205 $4,301 $16,791
2019 $33,640 $36,116 $4,741 $16,770
2018 $32,642 $35,228 $4,804 $15,022
2017 $31,875 $34,282 $4,419 $13,719
2016 $30,617 $32,285 $4,143 $13,065
2015 $30,719 $32,138 $4,087 $12,270
2014 $29,137 $31,726 $4,830 $11,771
2013 $27,643 $30,294 $4,712 $10,797
2012 $28,552 $31,036 $4,531 $10,060
2011 $27,091 $30,074 $4,120 $8,564
2010 $27,473 $29,625 $3,282 $7,712
2009 $27,513 $29,197 $2,823 $7,119
2008 $29,392 $30,679 $3,325 $7,279
2007 $30,052 $31,232 $2,635 $6,951
2006 $29,185 $30,402 $1,996 $5,980
2005 $28,602 $29,143 $1,643 $5,272
2004 $26,650 $27,660 $1,305 $4,635
2003 $26,429 $27,031 $1,010 $4,240
2002 $26,782 $27,171 $854 $3,719
2001 $25,372 $26,351 $802 $3,441
2000 $24,940 $25,422 $750 $3,161
1999 $24,041 $24,184 $674 $2,977
1998 $21,667 $22,556 $852 $2,795
1997 $20,368 $21,606 $807 $2,616
1996 $11,784 $21,287 $689 $2,253
1995 $11,375 $20,377 $578 $1,919
1994 $10,991 $19,441 $520 $1,764
1993 $10,613 $18,781 $550 $1,898
1992 $10,873 $18,636 $757 $2,643
1991 $11,082 $19,296 $1,308 $4,727
1990 $11,473 $19,817 $1,611 $5,836
1989 $11,291 - $1,853 -
1988 $10,576 - $1,844 -
1987 $10,361 - $1,544 -
1986 $9,601 - - -
1985 $9,167 - - -
1984 $8,202 - - -
1983 $7,081 - - -
1982 $6,559 - - -
1981 $6,029 - - -
1980 $5,743 - - -
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/georgia | CC BY

The Bahamas' GDP per capita is $39,455, ranking 30/197, compared to $9,241 in Georgia, ranking 89/197. Adjusted for purchasing power (GDP per capita PPP), the Bahamas ranks 57th at $41,198, while Georgia ranks 74th at $28,285.

Economic indicators

Bahamas Georgia
Gross domestic product
$15.8B
2024
$34.2B
2024
GDP rank
140/197
2024
107/197
2024
GDP growth
3.38%
2023-2024
9.68%
2023-2024
GDP per capita
$39,455
2024
$9,241
2024
GDP per capita rank
30/197
2024
89/197
2024
GDP per capita, PPP
$41,198
2024
$28,285
2024
GDP per capita PPP rank
57/197
2024
74/197
2024
Government debt
$11.5B
2024
$12.3B
2024
Debt-to-GDP ratio
72.5%
2024
36.1%
2024
Government debt per person
$28,616
2024
$3,336
2024
Government debt per person rank
25/185
2024
96/185
2024
Average annual personal income after taxes
$29,535
2026
$6,891
2026
Number of billionaires n/a
2
2025
Income share by richest 10% n/a
26.2%
2024
Income share by poorest 10% n/a
2.9%
2024
Government expenditure, % of GDP
20.6%
2024
30.3%
2024
Consumer prices inflation
0.41%
2023-2024
1.11%
2023-2024
Central bank interest rate
4%
2016
8%
2024
Unemployment rate
8.65%
2023
8.01%
2024
Population
405203
3697615

Spending and national debt comparison by year

Bahamas
Spending

Debt
Georgia
Spending

Debt
1x
Year % of GDP
Bahamas Georgia
Government spending Government debt Government spending Government debt
2024 20.6% 72.5% 30.3% 36.1%
2023 22.2% 74.8% 29.7% 38.9%
2022 23.9% 79.1% 28.5% 39.2%
2021 26.9% 84.5% 31.2% 49.1%
2020 28.2% 81.9% 34.1% 59.6%
2019 19.9% 59.3% 28.7% 40%
2018 19.2% 60.6% 26.7% 38.2%
2017 22.5% 53.4% 27.2% 38.9%
2016 19.4% 51% 27.8% 39.5%
2015 17.9% 48.5% 27% 36%
2014 17.6% 46.3% 27.5% 30.3%
2013 18.4% 44.8% 26.6% 28.9%
2012 16.5% 36.4% 27.7% 28.1%
2011 17.1% 35.3% 27.1% 27.7%
2010 15.3% 33.7% 31% 31.4%
2009 15.6% 30.9% 34.8% 33.6%
2008 14.4% 25.5% 31.8% 26.3%
2007 13.3% 23% 27.7% 22.5%
2006 13% 22.8% 22.7% 28.3%
2005 12.3% 22% 21.6% 35.3%
2004 12.4% 21.4% 18.9% 44.3%
2003 11.8% 20.9% 16.1% 54.6%
2002 11.3% 18.8% 16% 50.3%
2001 11.2% 18.2% 16.8% 53%
2000 11.3% 18.7% 16.9% 58.5%
1999 8.78% 18.7% 19.8% 76.5%
1998 11.6% 20% 18.9% 80%
1997 12.5% 20.8% 21.9% 48.2%
1996 11.2% 20.2% 18.4% 38.9%
1995 11.2% 20.5% 15.6% 19.8%
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 (1995–1999, retrieved 2026-02-20).

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

In 2024, the Bahamas' government spending was $3.26B, accounting for 20.6% of its GDP, while Georgia spent $10.3B, or 30.3% of GDP.

Debt-to-GDP ratio is 72.5% in the Bahamas and 36.1% in Georgia, ranking 53/185 and 144/185, respectively.

Government deficit by year

Deficit/surplus
Bahamas

Georgia
1x
Year Deficit/surplus, % of GDP
Bahamas Georgia
2024 -1.18% -2.3%
2023 -3.49% -2.33%
2022 -5.16% -2.2%
2021 -11.1% -5.97%
2020 -8.09% -9.16%
2019 -1.65% -1.82%
2018 -3.24% -0.8%
2017 -5.92% -0.45%
2016 -2.61% -1.49%
2015 -3.24% -1.16%
2014 -4.38% -1.78%
2013 -5.16% -1.25%
2012 -3.15% -0.71%
2011 -2.87% -0.81%
2010 -2.56% -4.48%
2009 -2.45% -6.36%
2008 -0.83% -1.92%
2007 -0.76% 0.81%
2006 -0.43% 3.28%
2005 -1.11% 2.14%
2004 -1.93% 3.59%
2003 -1.63% -0.55%
2002 -1.62% -0.19%
2001 0.3% -0.71%
2000 0.09% -1.92%
1999 1.68% -4.72%
1998 -0.41% -4%
1997 -1.56% -6.79%
1996 -0.15% -5.91%
1995 0.18% -4.89%
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/georgia | 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 Georgia's deficit of $785M, or 2.3% of GDP.

Over the past 30 years, the Bahamas recorded a fiscal deficit in 26 of those years, while Georgia ran a deficit in 26 years. On average, the Bahamas posted an annual deficit equal to 2.48% of GDP, compared to deficit of 2.16% of GDP for Georgia.

Inflation comparison by year

Inflation
Bahamas

Georgia
1x
Year Consumer prices inflation
Bahamas Georgia
2024 0.41% 1.11%
2023 3.05% 2.49%
2022 5.61% 11.9%
2021 2.9% 9.57%
2020 0.04% 5.2%
2019 2.49% 4.85%
2018 2.27% 2.62%
2017 1.52% 6.04%
2016 -0.35% 2.13%
2015 1.86% 4%
2014 1.51% 3.07%
2013 0.72% -0.51%
2012 1.97% -0.94%
2011 3.2% 8.54%
2010 1.34% 7.11%
2009 2.06% 1.73%
2008 4.49% 10%
2007 2.49% 9.24%
2006 2.39% 9.16%
2005 1.59% 8.25%
2004 0.98% 5.66%
2003 3.03% 0.84%
2002 2.17% 5.59%
2001 2.04% 4.65%
2000 1.61% 4.06%
1999 1.25% 19.2%
1998 1.34% 3.57%
1997 0.54% 7.09%

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

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

Over the past 28 years, the Bahamas has recorded an average annual inflation rate of 1.95%, compared with 5.58% in Georgia. In 2024, inflation was 0.41% in the Bahamas and 1.11% in Georgia.

Balance of trade

Bahamas Georgia
Current account balance
-$1.05B
2024
-$1.79B
2024
Current account balance ranking
127/190
2024
139/190
2024
Current account balance, % of GDP
-6.65%
2024
-5.22%
2024
Goods imports
$4.6B
2024
$15.2B
2024
Goods exports
$874M
2024
$8.63B
2024
Service imports
$2.47B
2024
$3.81B
2024
Service exports
$5.9B
2024
$7.71B
2024
Imports of goods and services, % of GDP
41.5%
2024
55.6%
2024
Exports of goods and services, % of GDP
37.8%
2024
47.8%
2024

Economic freedom indices

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

Bahamas Georgia
Economic freedom 65.1 69.6
Economic freedom ranking 66/197 41/197
Property rights 62.7 53
Government integrity 67.1 59.9
Judicial effectiveness 79.8 53.8
Tax burden 96.1 87.8
Government spending 83.8 73.9
Fiscal health 9.1 89.1
Business freedom 69.4 76.6
Labor freedom 66.5 64
Monetary freedom 77.2 70.2
Trade freedom 59.4 86.8
Investment freedom 50 60
Financial freedom 60 60

Economic freedom comparison by year

Bahamas
Georgia
1x
Year Economic freedom index
Bahamas Georgia
2026 65.1 69.6
2025 63.2 69
2024 62.5 68.4
2023 62.6 68.7
2022 68.7 71.8
2021 64.6 77.2
2020 64.5 77.1
2019 62.9 75.9
2018 63.3 76.2
2017 61.1 76
2016 70.9 72.6
2015 68.7 73
2014 69.8 72.6
2013 70.1 72.2
2012 68 69.4
2011 68 70.4
2010 67.3 70.4
2009 70.3 69.8
2008 71.1 69.2
2007 72 69.3
2006 72.3 64.5
2005 72.6 57.1
2004 72.1 58.9
2003 73.5 58.6
2002 74.4 56.7
2001 74.8 58.3
2000 73.9 54.3
1999 74.7 52.5
1998 74.5 47.9
1997 74.5 46.5
1996 74 44.1
1995 71.8 -

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

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

The Economic Freedom Index for the Bahamas is 65.1, ranking 66/197, compared to 69.6 for Georgia, ranking 41/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahamas Georgia
Services, % of GDP
77.2%
2024
62%
2024
Industry, % of GDP
9.63%
2024
19.6%
2024
Agriculture, forestry, and fishing, % of GDP
0.51%
2024
5.49%
2024
GNI, Atlas method
$14.9B
2024
$30B
2024
GNI per capita, PPP
$39,550
2024
$26,200
2024
Total reserves including gold
$2.51B
2023
$4.45B
2024
Total reserves ranking
122/177
2023
104/177
2024
Net foreign direct investment
-$77.6M
2024
-$1.14B
2024
Net inflows of foreign direct investment
$241M
2024
$1.6B
2024
Net outflows of foreign direct investment
$163M
2024
$462M
2024
Servicing debt to the IMF, % of GNI n/a
15.2%
2024
Poverty at national poverty lines
9.3%
2020
9.4%
2024
Gross capital formation, % of GDP
26.8%
2024
24.5%
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/georgia | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1995–1999, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. 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.