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Economy of Bahamas vs Guinea-Bissau compared: GDP & Debt

Updated on by Georank team

The Bahamas has a GDP of $15.8B compared to $2.22B for Guinea-Bissau, ranking 140/197 and 176/197 by economy size, respectively.

The Bahamas has $11.5B in government debt (72.5% of GDP), compared to $1.82B (82.2% of GDP) in Guinea-Bissau.

Bahamas vs Guinea-Bissau GDP by year

Bahamas
Guinea-Bissau
1x
Year GDP, current $
Bahamas Guinea-Bissau
2024 $15,832,800,000 $2,218,393,805
2023 $15,271,300,000 $2,127,688,181
2022 $13,896,800,000 $1,859,601,384
2021 $12,037,000,000 $1,908,094,558
2020 $10,363,200,000 $1,705,057,581
2019 $13,277,000,000 $1,596,227,316
2018 $12,819,200,000 $1,554,133,594
2017 $12,446,900,000 $1,469,978,606
2016 $11,880,900,000 $1,245,074,264
2015 $11,837,600,000 $1,152,384,167
2014 $11,139,100,000 $1,135,250,721
2013 $10,475,300,000 $1,109,682,824
2012 $10,720,400,000 $1,049,412,177
2011 $10,070,450,000 $1,157,074,319
2010 $10,095,760,000 $940,112,539
2009 $9,981,960,000 $890,167,833
2008 $10,526,000,000 $952,667,544
2007 $10,618,340,000 $753,162,998
2006 $10,167,250,000 $634,781,901
2005 $9,836,200,000 $639,776,041
2004 $9,055,290,000 $582,169,841
2003 $8,870,090,000 $553,614,800
2002 $8,881,160,000 $466,773,711
2001 $8,317,830,000 $412,610,872
2000 $8,076,470,000 $391,345,597
1999 $7,683,870,000 $579,365,780
1998 $6,833,220,000 $591,034,143
1997 $6,332,360,000 $698,107,222
1996 $3,609,000,000 $702,965,148
1995 $3,429,000,000 $660,195,402
1994 $3,259,000,000 $612,502,085
1993 $3,092,000,000 $615,779,519
1992 $3,109,000,000 $588,309,271
1991 $3,111,160,000 $668,470,891
1990 $3,166,000,000 $634,187,269
1989 $3,062,000,000 $554,072,303
1988 $2,817,900,000 $427,514,322
1987 $2,713,999,900 $451,893,375
1986 $2,472,500,000 $338,524,233
1985 $2,320,699,900 $373,959,151
1984 $2,041,100,000 $359,980,491
1983 $1,732,800,000 $425,225,177
1982 $1,578,300,000 $430,284,022
1981 $1,426,500,000 $402,230,865
1980 $1,335,300,000 $287,648,258
1979 $1,139,800,100 $308,143,183
1978 $832,400,000 $318,876,550
1977 $713,000,000 $298,871,675
1976 $642,100,000 $292,152,321
1975 $596,200,000 $283,311,997
1974 $632,400,000 $256,769,730
1973 $670,900,000 $232,331,281
1972 $590,900,000 $227,986,203
1971 $573,400,000 $204,167,297
1970 $539,500,000 $204,670,551
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-bissau | CC BY

GDP per capita in Bahamas vs Guinea-Bissau by year

Bahamas
GDP per capita

GDP per capita, PPP
Guinea-Bissau
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahamas Guinea-Bissau
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $39,455 $41,198 $1,008 $3,119
2023 $38,232 $39,090 $988 $2,990
2022 $34,957 $36,791 $883 $2,789
2021 $30,368 $31,065 $927 $2,523
2020 $26,179 $27,205 $847 $2,340
2019 $33,640 $36,116 $811 $2,247
2018 $32,642 $35,228 $809 $2,058
2017 $31,875 $34,282 $783 $2,082
2016 $30,617 $32,285 $680 $1,824
2015 $30,719 $32,138 $645 $1,730
2014 $29,137 $31,726 $652 $1,456
2013 $27,643 $30,294 $654 $1,416
2012 $28,552 $31,036 $635 $1,402
2011 $27,091 $30,074 $720 $1,472
2010 $27,473 $29,625 $600 $1,370
2009 $27,513 $29,197 $583 $1,315
2008 $29,392 $30,679 $640 $1,309
2007 $30,052 $31,232 $519 $1,260
2006 $29,185 $30,402 $449 $1,226
2005 $28,602 $29,143 $463 $1,187
2004 $26,650 $27,660 $431 $1,105
2003 $26,429 $27,031 $420 $1,089
2002 $26,782 $27,171 $362 $1,095
2001 $25,372 $26,351 $327 $1,064
2000 $24,940 $25,422 $317 $1,014
1999 $24,041 $24,184 $479 $1,001
1998 $21,667 $22,556 $498 $861
1997 $20,368 $21,606 $599 $1,118
1996 $11,784 $21,287 $615 $1,052
1995 $11,375 $20,377 $589 $945
1994 $10,991 $19,441 $561 $909
1993 $10,613 $18,781 $582 $890
1992 $10,873 $18,636 $574 $880
1991 $11,082 $19,296 $672 $877
1990 $11,473 $19,817 $651 $824
1989 $11,291 - $578 -
1988 $10,576 - $454 -
1987 $10,361 - $488 -
1986 $9,601 - $371 -
1985 $9,167 - $417 -
1984 $8,202 - $407 -
1983 $7,081 - $489 -
1982 $6,559 - $503 -
1981 $6,029 - $477 -
1980 $5,743 - $347 -
1979 $4,994 - $376 -
1978 $3,720 - $403 -
1977 $3,253 - $403 -
1976 $2,993 - $421 -
1975 $2,841 - $435 -
1974 $3,080 - $419 -
1973 $3,341 - $392 -
1972 $3,014 - $389 -
1971 $3,004 - $348 -
1970 $2,916 - $350 -
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-bissau | CC BY

The Bahamas' GDP per capita is $39,455, ranking 30/197, compared to $1,008 in Guinea-Bissau, ranking 177/197. Adjusted for purchasing power (GDP per capita PPP), the Bahamas ranks 57th at $41,198, while Guinea-Bissau ranks 179th at $3,119.

Economic indicators

Bahamas Guinea-Bissau
Gross domestic product
$15.8B
2024
$2.22B
2024
GDP rank
140/197
2024
176/197
2024
GDP growth
3.38%
2023-2024
4.15%
2023-2024
GDP per capita
$39,455
2024
$1,008
2024
GDP per capita rank
30/197
2024
177/197
2024
GDP per capita, PPP
$41,198
2024
$3,119
2024
GDP per capita PPP rank
57/197
2024
179/197
2024
Government debt
$11.5B
2024
$1.82B
2024
Debt-to-GDP ratio
72.5%
2024
82.2%
2024
Government debt per person
$28,616
2024
$828
2024
Government debt per person rank
25/185
2024
146/185
2024
Average annual personal income after taxes
$29,535
2026
$1,711
2026
Income share by richest 10% n/a
26.1%
2021
Income share by poorest 10% n/a
3.4%
2021
Government expenditure, % of GDP
20.6%
2024
20.4%
2024
Consumer prices inflation
0.41%
2023-2024
3.7%
2023-2024
Central bank interest rate
4%
2016
n/a
Unemployment rate
8.65%
2023
2.67%
2022
Population
405203
2311915

Spending and national debt comparison by year

Bahamas
Spending

Debt
Guinea-Bissau
Spending

Debt
1x
Year % of GDP
Bahamas Guinea-Bissau
Government spending Government debt Government spending Government debt
2024 20.6% 72.5% 20.4% 82.2%
2023 22.2% 74.8% 21.9% 79.4%
2022 23.9% 79.1% 21.3% 80.7%
2021 26.9% 84.5% 25% 78.8%
2020 28.2% 81.9% 25% 77.6%
2019 19.9% 59.3% 18.8% 65.1%
2018 19.2% 60.6% 19.5% 59.1%
2017 22.5% 53.4% 18.1% 51.8%
2016 19.4% 51% 20.5% 59.1%
2015 17.9% 48.5% 21.5% 56.3%
2014 17.6% 46.3% 23% 60.1%
2013 18.4% 44.8% 12.4% 49.6%
2012 16.5% 36.4% 13% 47.4%
2011 17.1% 35.3% 17.3% 45.6%
2010 15.3% 33.7% 18.5% 61.7%
2009 15.6% 30.9% 20.6% 148.3%
2008 14.4% 25.5% 21.8% 148.8%
2007 13.3% 23% 23.7% 164%
2006 13% 22.8% 19.8% 190.4%
2005 12.3% 22% 20.2% 203.7%
2004 12.4% 21.4% 23% 202%
2003 11.8% 20.9% 17% 183.4%
2002 11.3% 18.8% 14.1% 197.5%
2001 11.2% 18.2% 19.1% 204.4%
2000 11.3% 18.7% 23.5% 217.1%
1999 8.78% 18.7% 12.1% 109.9%
1998 11.6% 20% 8.72% 109.1%
1997 12.5% 20.8% 12.7% 94.3%
1996 11.2% 20.2% 8.93% 117.3%
1995 11.2% 20.5% 8.14% 103.3%
1994 11.4% 20.4% 18.4% 105.5%
1993 11.5% 19.8% 13.1% 112.4%
1992 11.8% 17.9% 10.1% 85.3%
1991 12% 15.4% 9.19% 88.9%
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 (1991–1996, retrieved 2026-02-20).

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

In 2024, the Bahamas' government spending was $3.26B, accounting for 20.6% of its GDP, while Guinea-Bissau spent $452M, or 20.4% of GDP.

Debt-to-GDP ratio is 72.5% in the Bahamas and 82.2% in Guinea-Bissau, ranking 53/185 and 41/185, respectively.

Government deficit by year

Deficit/surplus
Bahamas

Guinea-Bissau
1x
Year Deficit/surplus, % of GDP
Bahamas Guinea-Bissau
2024 -1.18% -7.26%
2023 -3.49% -8.15%
2022 -5.16% -6.06%
2021 -11.1% -5.88%
2020 -8.09% -9.64%
2019 -1.65% -3.86%
2018 -3.24% -4.76%
2017 -5.92% -1.32%
2016 -2.61% -5.34%
2015 -3.24% -3.16%
2014 -4.38% -2.44%
2013 -5.16% -1.67%
2012 -3.15% -2.12%
2011 -2.87% -1.35%
2010 -2.56% -0.23%
2009 -2.45% 2.68%
2008 -0.83% -0.73%
2007 -0.76% -8.77%
2006 -0.43% -4.57%
2005 -1.11% -4.96%
2004 -1.93% -5.92%
2003 -1.63% -5.63%
2002 -1.62% -3.7%
2001 0.3% -1.83%
2000 0.09% -2.8%
1999 1.68% -4.06%
1998 -0.41% -5.95%
1997 -1.56% -2.56%
1996 -0.15% 3.48%
1995 0.18% 2.45%
1994 -0.39% -5.54%
1993 -1.05% -0.34%
1992 -2.23% -0.25%
1991 -2.29% 1.61%
1990 -2.64% -

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

GeoRank.org/economy/bahamas/guinea-bissau | 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-Bissau's deficit of $161M, or 7.26% of GDP.

Over the past 34 years, the Bahamas recorded a fiscal deficit in 30 of those years, while Guinea-Bissau ran a deficit in 30 years. On average, the Bahamas posted an annual deficit equal to 2.36% of GDP, compared to deficit of 3.25% of GDP for Guinea-Bissau.

Inflation comparison by year

Inflation
Bahamas

Guinea-Bissau
1x
Year Consumer prices inflation
Bahamas Guinea-Bissau
2024 0.41% 3.7%
2023 3.05% 7.2%
2022 5.61% 7.9%
2021 2.9% 3.3%
2020 0.04% 1.5%
2019 2.49% 0.3%
2018 2.27% 0.4%
2017 1.52% -0.2%
2016 -0.35% 2.7%
2015 1.86% 1.5%
2014 1.51% -1%
2013 0.72% 0.8%
2012 1.97% 2.1%
2011 3.2% 5.1%
2010 1.34% 1.1%
2009 2.06% -1.6%
2008 4.49% 10.4%
2007 2.49% 4.6%
2006 2.39% 2%
2005 1.59% 3.4%
2004 0.98% 0.8%
2003 3.03% -3.5%
2002 2.17% 3.3%
2001 2.04% 3.3%
2000 1.61% 8.6%
1999 1.25% -2.1%
1998 1.34% 8.1%
1997 0.54% 49.1%

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-bissau | CC BY

Over the past 28 years, the Bahamas has recorded an average annual inflation rate of 1.95%, compared with 4.39% in Guinea-Bissau. In 2024, inflation was 0.41% in the Bahamas and 3.7% in Guinea-Bissau.

Balance of trade

Bahamas Guinea-Bissau
Current account balance
-$1.05B
2024
-$160M
2023
Current account balance ranking
127/190
2024
95/190
2023
Current account balance, % of GDP
-6.65%
2024
-7.53%
2023
Goods imports
$4.6B
2024
$403M
2023
Goods exports
$874M
2024
$240M
2023
Service imports
$2.47B
2024
$189M
2023
Service exports
$5.9B
2024
$44.8M
2023
Imports of goods and services, % of GDP
41.5%
2024
27%
2024
Exports of goods and services, % of GDP
37.8%
2024
11.8%
2024

Economic freedom indices

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

Bahamas Guinea-Bissau
Economic freedom 65.1 43.2
Economic freedom ranking 66/197 181/197
Property rights 62.7 28.4
Government integrity 67.1 21
Judicial effectiveness 79.8 13.2
Tax burden 96.1 89
Government spending 83.8 86.5
Fiscal health 9.1 6.5
Business freedom 69.4 34.6
Labor freedom 66.5 55.9
Monetary freedom 77.2 75.9
Trade freedom 59.4 47
Investment freedom 50 30
Financial freedom 60 30

Economic freedom comparison by year

Bahamas
Guinea-Bissau
1x
Year Economic freedom index
Bahamas Guinea-Bissau
2026 65.1 43.2
2025 63.2 43.6
2024 62.5 42.7
2023 62.6 44.6
2022 68.7 46
2021 64.6 54.9
2020 64.5 53.3
2019 62.9 54
2018 63.3 56.9
2017 61.1 56.1
2016 70.9 51.8
2015 68.7 52
2014 69.8 51.3
2013 70.1 51.1
2012 68 50.1
2011 68 46.5
2010 67.3 43.6
2009 70.3 45.4
2008 71.1 44.4
2007 72 46.1
2006 72.3 46.5
2005 72.6 46
2004 72.1 42.6
2003 73.5 43.1
2002 74.4 42.3
2001 74.8 42.5
2000 73.9 34.7
1999 74.7 33.5
1998 74.5 -
1997 74.5 -
1996 74 -
1995 71.8 -

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

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

The Economic Freedom Index for the Bahamas is 65.1, ranking 66/197, compared to 43.2 for Guinea-Bissau, ranking 181/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahamas Guinea-Bissau
Services, % of GDP
77.2%
2024
37.9%
2024
Industry, % of GDP
9.63%
2024
15.6%
2024
Agriculture, forestry, and fishing, % of GDP
0.51%
2024
42.2%
2024
GNI, Atlas method
$14.9B
2024
$2.18B
2024
GNI per capita, PPP
$39,550
2024
$3,140
2024
Total reserves including gold
$2.51B
2023
n/a
Total reserves ranking
122/177
2023
n/a
Net foreign direct investment
-$77.6M
2024
-$24.8M
2023
Net inflows of foreign direct investment
$241M
2024
$26.7M
2024
Net outflows of foreign direct investment
$163M
2024
$389K
2024
Servicing debt to the IMF, % of GNI n/a
1.75%
2024
Poverty at national poverty lines
9.3%
2020
50.5%
2021
Gross capital formation, % of GDP
26.8%
2024
24.9%
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-bissau | 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 (1991–1996, 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.