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Economy of Bahamas vs Guinea compared: GDP & Debt

Updated on by Georank team

The Bahamas has a GDP of $15.8B compared to $25B for Guinea, ranking 140/197 and 118/197 by economy size, respectively.

The Bahamas has $11.5B in government debt (72.5% of GDP), compared to $12.2B (48.8% of GDP) in Guinea.

Bahamas vs Guinea GDP by year

Bahamas
Guinea
1x
Year GDP, current $
Bahamas Guinea
2024 $15,832,800,000 $25,008,678,293
2023 $15,271,300,000 $22,407,615,556
2022 $13,896,800,000 $19,910,452,542
2021 $12,037,000,000 $17,069,115,738
2020 $10,363,200,000 $14,088,693,743
2019 $13,277,000,000 $13,442,861,496
2018 $12,819,200,000 $11,857,030,367
2017 $12,446,900,000 $10,324,668,271
2016 $11,880,900,000 $8,595,955,222
2015 $11,837,600,000 $8,794,201,743
2014 $11,139,100,000 $8,778,473,373
2013 $10,475,300,000 $8,376,613,539
2012 $10,720,400,000 $7,638,044,557
2011 $10,070,450,000 $6,785,137,203
2010 $10,095,760,000 $6,853,467,146
2009 $9,981,960,000 $6,716,905,340
2008 $10,526,000,000 $6,964,179,983
2007 $10,618,340,000 $6,281,918,226
2006 $10,167,250,000 $4,220,019,845
2005 $9,836,200,000 $4,282,468,637
2004 $9,055,290,000 $5,300,767,961
2003 $8,870,090,000 $5,025,167,975
2002 $8,881,160,000 $4,301,608,753
2001 $8,317,830,000 $4,125,527,603
2000 $8,076,470,000 $4,367,458,867
1999 $7,683,870,000 $5,046,806,783
1998 $6,833,220,000 $5,232,118,046
1997 $6,332,360,000 $5,516,916,163
1996 $3,609,000,000 $5,641,243,100
1995 $3,429,000,000 $5,385,704,166
1994 $3,259,000,000 $4,932,800,407
1993 $3,092,000,000 $4,781,166,117
1992 $3,109,000,000 $4,789,220,417
1991 $3,111,160,000 $4,396,178,694
1990 $3,166,000,000 $3,888,320,666
1989 $3,062,000,000 $3,546,079,263
1988 $2,817,900,000 $3,476,480,303
1987 $2,713,999,900 $2,976,714,019
1986 $2,472,500,000 $2,909,130,355
1985 $2,320,699,900 $22,787,644,566
1984 $2,041,100,000 $18,421,497,251
1983 $1,732,800,000 $15,129,893,722
1982 $1,578,300,000 $11,926,032,493
1981 $1,426,500,000 $9,646,440,667
1980 $1,335,300,000 $9,746,524,915
1979 $1,139,800,100 $8,877,094,497
1978 $832,400,000 $8,087,305,999
1977 $713,000,000 $6,914,381,291
1976 $642,100,000 $6,762,781,871
1975 $596,200,000 $6,102,769,605
1974 $632,400,000 $5,691,417,541
1973 $670,900,000 $5,152,080,388
1972 $590,900,000 $4,203,069,035
1971 $573,400,000 $3,594,302,908
1970 $539,500,000 $3,220,224,608
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/guinea | CC BY

GDP per capita in Bahamas vs Guinea by year

Bahamas
GDP per capita

GDP per capita, PPP
Guinea
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahamas Guinea
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $39,455 $41,198 $1,695 $4,565
2023 $38,232 $39,090 $1,555 $4,334
2022 $34,957 $36,791 $1,417 $4,062
2021 $30,368 $31,065 $1,245 $3,739
2020 $26,179 $27,205 $1,054 $3,332
2019 $33,640 $36,116 $1,031 $3,106
2018 $32,642 $35,228 $933 $2,844
2017 $31,875 $34,282 $834 $2,687
2016 $30,617 $32,285 $712 $2,255
2015 $30,719 $32,138 $747 $1,930
2014 $29,137 $31,726 $765 $1,873
2013 $27,643 $30,294 $748 $1,842
2012 $28,552 $31,036 $699 $1,790
2011 $27,091 $30,074 $637 $1,705
2010 $27,473 $29,625 $659 $1,622
2009 $27,513 $29,197 $662 $1,567
2008 $29,392 $30,679 $704 $1,614
2007 $30,052 $31,232 $650 $1,558
2006 $29,185 $30,402 $447 $1,453
2005 $28,602 $29,143 $463 $1,422
2004 $26,650 $27,660 $585 $1,366
2003 $26,429 $27,031 $566 $1,328
2002 $26,782 $27,171 $496 $1,315
2001 $25,372 $26,351 $483 $1,251
2000 $24,940 $25,422 $518 $1,196
1999 $24,041 $24,184 $611 $1,163
1998 $21,667 $22,556 $647 $1,130
1997 $20,368 $21,606 $696 $1,099
1996 $11,784 $21,287 $726 $1,048
1995 $11,375 $20,377 $713 $1,014
1994 $10,991 $19,441 $672 $976
1993 $10,613 $18,781 $671 $947
1992 $10,873 $18,636 $693 $908
1991 $11,082 $19,296 $656 $887
1990 $11,473 $19,817 $604 $871
1989 $11,291 - $570 -
1988 $10,576 - $574 -
1987 $10,361 - $505 -
1986 $9,601 - $506 -
1985 $9,167 - $4,062 -
1984 $8,202 - $3,362 -
1983 $7,081 - $2,823 -
1982 $6,559 - $2,273 -
1981 $6,029 - $1,876 -
1980 $5,743 - $1,931 -
1979 $4,994 - $1,790 -
1978 $3,720 - $1,658 -
1977 $3,253 - $1,440 -
1976 $2,993 - $1,431 -
1975 $2,841 - $1,311 -
1974 $3,080 - $1,243 -
1973 $3,341 - $1,143 -
1972 $3,014 - $948 -
1971 $3,004 - $825 -
1970 $2,916 - $753 -
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/guinea | CC BY

The Bahamas' GDP per capita is $39,455, ranking 30/197, compared to $1,695 in Guinea, ranking 160/197. Adjusted for purchasing power (GDP per capita PPP), the Bahamas ranks 57th at $41,198, while Guinea ranks 161st at $4,565.

Economic indicators

Bahamas Guinea
Gross domestic product
$15.8B
2024
$25B
2024
GDP rank
140/197
2024
118/197
2024
GDP growth
3.38%
2023-2024
5.35%
2023-2024
GDP per capita
$39,455
2024
$1,695
2024
GDP per capita rank
30/197
2024
160/197
2024
GDP per capita, PPP
$41,198
2024
$4,565
2024
GDP per capita PPP rank
57/197
2024
161/197
2024
Government debt
$11.5B
2024
$12.2B
2024
Debt-to-GDP ratio
72.5%
2024
48.8%
2024
Government debt per person
$28,616
2024
$828
2024
Government debt per person rank
25/185
2024
147/185
2024
Average annual personal income after taxes
$29,535
2026
$20,020
2026
Income share by richest 10% n/a
23.1%
2018
Income share by poorest 10% n/a
3.5%
2018
Government expenditure, % of GDP
20.6%
2024
20.6%
2024
Consumer prices inflation
0.41%
2023-2024
4.7%
2023-2024
Central bank interest rate
4%
2016
n/a
Unemployment rate
8.65%
2023
5.02%
2019
Population
405203
15546235

Spending and national debt comparison by year

Bahamas
Spending

Debt
Guinea
Spending

Debt
1x
Year % of GDP
Bahamas Guinea
Government spending Government debt Government spending Government debt
2024 20.6% 72.5% 20.6% 48.8%
2023 22.2% 74.8% 18.3% 40.4%
2022 23.9% 79.1% 15.7% 37.9%
2021 26.9% 84.5% 15.1% 40.6%
2020 28.2% 81.9% 17.1% 45.3%
2019 19.9% 59.3% 14.9% 37.3%
2018 19.2% 60.6% 15.9% 37.5%
2017 22.5% 53.4% 17.3% 39.9%
2016 19.4% 51% 16.1% 40.6%
2015 17.9% 48.5% 21.7% 41.5%
2014 17.6% 46.3% 20.1% 32.1%
2013 18.4% 44.8% 18.6% 30.5%
2012 16.5% 36.4% 19.6% 26.9%
2011 17.1% 35.3% 16% 53.8%
2010 15.3% 33.7% 20.5% 71.1%
2009 15.6% 30.9% 16.2% 61.3%
2008 14.4% 25.5% 10.1% 58.5%
2007 13.3% 23% 8.66% 60.8%
2006 13% 22.8% 13.2% 95.2%
2005 12.3% 22% 11% 97.9%
2004 12.4% 21.4% 13% 86.9%
2003 11.8% 20.9% 14.7% 81.6%
2002 11.3% 18.8% 14.4% 82.6%
2001 11.2% 18.2% 14.9% 90.4%
2000 11.3% 18.7% 12.6% 91.5%
1999 8.78% 18.7% 11.6% 92.3%
1998 11.6% 20% 10.3% 75.9%
1997 12.5% 20.8% 12.6% 67.9%
1996 11.2% 20.2% 12% 67.7%
1995 11.2% 20.5% 12.7% 66.5%
1994 11.4% 20.4% 12.6% 71.3%
1993 11.5% 19.8% 13.3% 68.9%
1992 11.8% 17.9% 13.8% 62%
1991 12% 15.4% 16.3% 70.9%
1990 11.4% 13.2% 18.7% 71.6%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

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

In 2024, the Bahamas' government spending was $3.26B, accounting for 20.6% of its GDP, while Guinea spent $5.14B, or 20.6% of GDP.

Debt-to-GDP ratio is 72.5% in the Bahamas and 48.8% in Guinea, ranking 53/185 and 111/185, respectively.

Government deficit by year

Deficit/surplus
Bahamas

Guinea
1x
Year Deficit/surplus, % of GDP
Bahamas Guinea
2024 -1.18% -4.99%
2023 -3.49% -3.86%
2022 -5.16% -1.88%
2021 -11.1% -1.7%
2020 -8.09% -3.08%
2019 -1.65% -0.17%
2018 -3.24% -0.97%
2017 -5.92% -1.98%
2016 -2.61% -0.08%
2015 -3.24% -6.53%
2014 -4.38% -3.01%
2013 -5.16% -3.86%
2012 -3.15% 23.7%
2011 -2.87% -0.92%
2010 -2.56% -9.66%
2009 -2.45% -4.87%
2008 -0.83% 0.38%
2007 -0.76% 1.28%
2006 -0.43% -2.13%
2005 -1.11% -1.06%
2004 -1.93% -3.85%
2003 -1.63% -4.65%
2002 -1.62% -3.37%
2001 0.3% -3.23%
2000 0.09% -2.42%
1999 1.68% -1.3%
1998 -0.41% 2.46%
1997 -1.56% 0.07%
1996 -0.15% -2.2%
1995 0.18% -1.07%
1994 -0.39% -2.59%
1993 -1.05% -2.33%
1992 -2.23% -0.89%
1991 -2.29% -3.25%
1990 -2.64% -3.76%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/bahamas/guinea | 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 Guinea's deficit of $1.25B, or 4.99% of GDP.

Over the past 35 years, the Bahamas recorded a fiscal deficit in 31 of those years, while Guinea ran a deficit in 30 years. On average, the Bahamas posted an annual deficit equal to 2.37% of GDP, compared to deficit of 1.65% of GDP for Guinea.

Inflation comparison by year

Inflation
Bahamas

Guinea
1x
Year Consumer prices inflation
Bahamas Guinea
2024 0.41% 4.7%
2023 3.05% 5.4%
2022 5.61% 10.5%
2021 2.9% 12.6%
2020 0.04% 10.6%
2019 2.49% 9.5%
2018 2.27% 9.8%
2017 1.52% 8.9%
2016 -0.35% 8.2%
2015 1.86% 8.2%
2014 1.51% 9.7%
2013 0.72% 11.9%
2012 1.97% 15.2%
2011 3.2% 21.4%
2010 1.34% 15.5%
2009 2.06% 4.7%
2008 4.49% 18.4%
2007 2.49% 22.9%
2006 2.39% 34.7%
2005 1.59% 31.4%
2004 0.98% 17.5%
2003 3.03% 11%
2002 2.17% 3%
2001 2.04% 5.4%
2000 1.61% 6.8%
1999 1.25% 4.6%
1998 1.34% 5.1%
1997 0.54% 1.9%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, the Bahamas has recorded an average annual inflation rate of 1.95%, compared with 11.8% in Guinea. In 2024, inflation was 0.41% in the Bahamas and 4.7% in Guinea.

Top exports between countries

Bahamas
Export category Export value
Guinea
Export category Export value
Miscellaneous $2K

Balance of trade

Bahamas Guinea
Current account balance
-$1.05B
2024
-$392M
2024
Current account balance ranking
127/190
2024
104/190
2024
Current account balance, % of GDP
-6.65%
2024
-1.57%
2024
Goods imports
$4.6B
2024
$7.08B
2024
Goods exports
$874M
2024
$11.6B
2024
Service imports
$2.47B
2024
$3.15B
2024
Service exports
$5.9B
2024
$71.2M
2024
Imports of goods and services, % of GDP
41.5%
2024
56.4%
2024
Exports of goods and services, % of GDP
37.8%
2024
41.4%
2024

Economic freedom indices

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

Bahamas Guinea
Economic freedom 65.1 53.1
Economic freedom ranking 66/197 141/197
Property rights 62.7 21.3
Government integrity 67.1 26.7
Judicial effectiveness 79.8 26
Tax burden 96.1 70.1
Government spending 83.8 90.1
Fiscal health 9.1 74.8
Business freedom 69.4 44.8
Labor freedom 66.5 56.4
Monetary freedom 77.2 75.3
Trade freedom 59.4 61.8
Investment freedom 50 50
Financial freedom 60 40

Economic freedom comparison by year

Bahamas
Guinea
1x
Year Economic freedom index
Bahamas Guinea
2026 65.1 53.1
2025 63.2 54.6
2024 62.5 53.3
2023 62.6 53.2
2022 68.7 54.2
2021 64.6 56.5
2020 64.5 56.5
2019 62.9 55.7
2018 63.3 52.2
2017 61.1 47.6
2016 70.9 53.3
2015 68.7 52.1
2014 69.8 53.5
2013 70.1 51.2
2012 68 50.8
2011 68 51.7
2010 67.3 51.8
2009 70.3 51
2008 71.1 52.8
2007 72 54.5
2006 72.3 52.8
2005 72.6 57.4
2004 72.1 56.1
2003 73.5 54.6
2002 74.4 52.9
2001 74.8 58.4
2000 73.9 58.2
1999 74.7 59.4
1998 74.5 61
1997 74.5 52.9
1996 74 58.5
1995 71.8 59.4

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

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

The Economic Freedom Index for the Bahamas is 65.1, ranking 66/197, compared to 53.1 for Guinea, ranking 141/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahamas Guinea
Services, % of GDP
77.2%
2024
36.3%
2024
Industry, % of GDP
9.63%
2024
25.1%
2024
Agriculture, forestry, and fishing, % of GDP
0.51%
2024
31%
2024
GNI, Atlas method
$14.9B
2024
$21.3B
2024
GNI per capita, PPP
$39,550
2024
$4,130
2024
Total reserves including gold
$2.51B
2023
$1.89B
2023
Total reserves ranking
122/177
2023
128/177
2023
Net foreign direct investment
-$77.6M
2024
-$1.4B
2024
Net inflows of foreign direct investment
$241M
2024
$1.4B
2024
Net outflows of foreign direct investment
$163M
2024
$30K
2024
Servicing debt to the IMF, % of GNI n/a
1.94%
2024
Poverty at national poverty lines
9.3%
2020
47%
2020
Gross capital formation, % of GDP
26.8%
2024
32.1%
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/guinea | 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. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. TradeMap (2016, retrieved 2026-02-08)

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.