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Economy of Bahamas vs Hungary compared: GDP & Debt

Updated on by Georank team

The Bahamas has a GDP of $15.8B compared to $223B for Hungary, ranking 140/197 and 55/197 by economy size, respectively.

The Bahamas has $11.5B in government debt (72.5% of GDP), compared to $164B (73.5% of GDP) in Hungary.

Bahamas vs Hungary GDP by year

Bahamas
Hungary
1x
Year GDP, current $
Bahamas Hungary
2024 $15,832,800,000 $222,722,738,926
2023 $15,271,300,000 $213,240,316,635
2022 $13,896,800,000 $177,002,580,544
2021 $12,037,000,000 $183,282,685,440
2020 $10,363,200,000 $158,468,487,754
2019 $13,277,000,000 $164,936,682,034
2018 $12,819,200,000 $161,184,691,014
2017 $12,446,900,000 $143,335,098,992
2016 $11,880,900,000 $128,983,560,865
2015 $11,837,600,000 $125,244,126,623
2014 $11,139,100,000 $141,128,696,412
2013 $10,475,300,000 $135,646,053,779
2012 $10,720,400,000 $128,470,269,690
2011 $10,070,450,000 $141,712,804,954
2010 $10,095,760,000 $131,898,737,241
2009 $9,981,960,000 $130,807,441,076
2008 $10,526,000,000 $158,228,265,916
2007 $10,618,340,000 $140,123,326,896
2006 $10,167,250,000 $115,604,111,412
2005 $9,836,200,000 $113,098,237,571
2004 $9,055,290,000 $104,015,363,080
2003 $8,870,090,000 $85,190,469,121
2002 $8,881,160,000 $67,636,468,625
2001 $8,317,830,000 $53,800,068,066
2000 $8,076,470,000 $47,275,954,429
1999 $7,683,870,000 $49,160,204,397
1998 $6,833,220,000 $48,784,412,624
1997 $6,332,360,000 $47,398,564,799
1996 $3,609,000,000 $46,833,767,124
1995 $3,429,000,000 $46,577,614,589
1994 $3,259,000,000 $43,307,949,890
1993 $3,092,000,000 $40,256,233,360
1992 $3,109,000,000 $38,857,339,125
1991 $3,111,160,000 $34,867,307,353
1990 $3,166,000,000 $34,478,360,679
1989 $3,062,000,000 $30,422,508,938
1988 $2,817,900,000 $29,799,838,597
1987 $2,713,999,900 $27,232,016,527
1986 $2,472,500,000 $24,778,163,812
1985 $2,320,699,900 $21,510,643,750
1984 $2,041,100,000 $21,242,726,264
1983 $1,732,800,000 $21,910,365,258
1982 $1,578,300,000 $24,141,667,188
1981 $1,426,500,000 $23,705,883,892
1980 $1,335,300,000 $23,116,977,148
1979 $1,139,800,100 $19,959,731,325
1978 $832,400,000 $17,286,744,154
1977 $713,000,000 $14,783,674,055
1976 $642,100,000 $13,235,612,079
1975 $596,200,000 $11,420,392,515
1974 $632,400,000 $10,016,338,179
1973 $670,900,000 $9,138,292,402
1972 $590,900,000 $7,379,313,742
1971 $573,400,000 $6,291,568,221
1970 $539,500,000 $5,780,929,203
1969 $538,700,000 $5,429,812,387
1968 $453,800,000 $4,886,222,555
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/hungary | CC BY

GDP per capita in Bahamas vs Hungary by year

Bahamas
GDP per capita

GDP per capita, PPP
Hungary
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahamas Hungary
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $39,455 $41,198 $23,292 $48,552
2023 $38,232 $39,090 $22,231 $46,592
2022 $34,957 $36,791 $18,428 $44,366
2021 $30,368 $31,065 $19,031 $38,887
2020 $26,179 $27,205 $16,387 $35,584
2019 $33,640 $36,116 $17,013 $35,627
2018 $32,642 $35,228 $16,605 $32,258
2017 $31,875 $34,282 $14,736 $29,728
2016 $30,617 $32,285 $13,216 $28,179
2015 $30,719 $32,138 $12,783 $26,938
2014 $29,137 $31,726 $14,353 $25,796
2013 $27,643 $30,294 $13,739 $24,592
2012 $28,552 $31,036 $12,950 $23,205
2011 $27,091 $30,074 $14,211 $22,992
2010 $27,473 $29,625 $13,190 $21,691
2009 $27,513 $29,197 $13,051 $20,691
2008 $29,392 $30,679 $15,763 $20,709
2007 $30,052 $31,232 $13,935 $19,089
2006 $29,185 $30,402 $11,478 $18,362
2005 $28,602 $29,143 $11,212 $17,091
2004 $26,650 $27,660 $10,291 $16,251
2003 $26,429 $27,031 $8,410 $15,460
2002 $26,782 $27,171 $6,658 $14,532
2001 $25,372 $26,351 $5,281 $13,223
2000 $24,940 $25,422 $4,630 $11,872
1999 $24,041 $24,184 $4,802 $10,892
1998 $21,667 $22,556 $4,752 $10,415
1997 $20,368 $21,606 $4,606 $9,846
1996 $11,784 $21,287 $4,542 $9,388
1995 $11,375 $20,377 $4,509 $9,222
1994 $10,991 $19,441 $4,187 $8,888
1993 $10,613 $18,781 $3,887 $8,441
1992 $10,873 $18,636 $3,747 $8,284
1991 $11,082 $19,296 $3,361 $8,352
1990 $11,473 $19,817 $3,324 $9,169
1989 $11,291 - $2,902 -
1988 $10,576 - $2,812 -
1987 $10,361 - $2,566 -
1986 $9,601 - $2,331 -
1985 $9,167 - $2,020 -
1984 $8,202 - $1,991 -
1983 $7,081 - $2,050 -
1982 $6,559 - $2,255 -
1981 $6,029 - $2,213 -
1980 $5,743 - $2,158 -
1979 $4,994 - $1,865 -
1978 $3,720 - $1,618 -
1977 $3,253 - $1,388 -
1976 $2,993 - $1,249 -
1975 $2,841 - $1,083 -
1974 $3,080 - $956 -
1973 $3,341 - $876 -
1972 $3,014 - $710 -
1971 $3,004 - $607 -
1970 $2,916 - $559 -
1969 $3,027 - $527 -
1968 $2,668 - $476 -
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/hungary | CC BY

The Bahamas' GDP per capita is $39,455, ranking 30/197, compared to $23,292 in Hungary, ranking 55/197. Adjusted for purchasing power (GDP per capita PPP), the Bahamas ranks 57th at $41,198, while Hungary ranks 48th at $48,552.

Economic indicators

Bahamas Hungary
Gross domestic product
$15.8B
2024
$223B
2024
GDP rank
140/197
2024
55/197
2024
GDP growth
3.38%
2023-2024
0.56%
2023-2024
GDP per capita
$39,455
2024
$23,292
2024
GDP per capita rank
30/197
2024
55/197
2024
GDP per capita, PPP
$41,198
2024
$48,552
2024
GDP per capita PPP rank
57/197
2024
48/197
2024
Government debt
$11.5B
2024
$164B
2024
Debt-to-GDP ratio
72.5%
2024
73.5%
2024
Government debt per person
$28,616
2024
$17,109
2024
Government debt per person rank
25/185
2024
37/185
2024
Average annual personal income after taxes
$29,535
2026
$16,996
2026
Market capitalization of domestic companies n/a
$41.5B
2024
Number of millionaires n/a
24,692
2025
Number of billionaires n/a
4
2025
Income share by richest 10% n/a
24.4%
2022
Income share by poorest 10% n/a
2.8%
2022
Government expenditure, % of GDP
20.6%
2024
46.9%
2024
Consumer prices inflation
0.41%
2023-2024
3.7%
2023-2024
Central bank interest rate
4%
2016
6.5%
2024
Unemployment rate
8.65%
2023
4.47%
2024
Population
405203
9475525

Spending and national debt comparison by year

Bahamas
Spending

Debt
Hungary
Spending

Debt
1x
Year % of GDP
Bahamas Hungary
Government spending Government debt Government spending Government debt
2024 20.6% 72.5% 46.9% 73.5%
2023 22.2% 74.8% 49.2% 73%
2022 23.9% 79.1% 48.7% 73.9%
2021 26.9% 84.5% 48.1% 76.2%
2020 28.2% 81.9% 51% 78.7%
2019 19.9% 59.3% 45.8% 65%
2018 19.2% 60.6% 45.9% 68.8%
2017 22.5% 53.4% 46.6% 72%
2016 19.4% 51% 46.7% 74.6%
2015 17.9% 48.5% 50.4% 75.7%
2014 17.6% 46.3% 50% 76.5%
2013 18.4% 44.8% 50.1% 77.2%
2012 16.5% 36.4% 49.2% 78.4%
2011 17.1% 35.3% 49.1% 80.5%
2010 15.3% 33.7% 48.9% 80.2%
2009 15.6% 30.9% 50.7% 78.2%
2008 14.4% 25.5% 48.8% 71.8%
2007 13.3% 23% 49.9% 65.6%
2006 13% 22.8% 51.4% 64.5%
2005 12.3% 22% 49.4% 60.6%
2004 12.4% 21.4% 48.8% 58.9%
2003 11.8% 20.9% 49.2% 58.2%
2002 11.3% 18.8% 51% 55.6%
2001 11.2% 18.2% 47.2% 52.2%
2000 11.3% 18.7% 47.3% 55.6%
1999 8.78% 18.7% 48.9% 60.3%
1998 11.6% 20% 50.7% 60.4%
1997 12.5% 20.8% 49.5% 62.2%
1996 11.2% 20.2% 50.9% 71.2%
1995 11.2% 20.5% 55% 83.9%
1994 11.4% 20.4% - 86.2%
1993 11.5% 19.8% - 87.2%
1992 11.8% 17.9% - 76.5%
1991 12% 15.4% - 74.2%
1990 11.4% 13.2% - 63.7%
1989 - - - 70.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1989–1994, retrieved 2026-02-20).

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

In 2024, the Bahamas' government spending was $3.26B, accounting for 20.6% of its GDP, while Hungary spent $104B, or 46.9% of GDP.

Debt-to-GDP ratio is 72.5% in the Bahamas and 73.5% in Hungary, ranking 53/185 and 49/185, respectively.

Government deficit by year

Deficit/surplus
Bahamas

Hungary
1x
Year Deficit/surplus, % of GDP
Bahamas Hungary
2024 -1.18% -4.92%
2023 -3.49% -6.75%
2022 -5.16% -6.17%
2021 -11.1% -7.11%
2020 -8.09% -7.49%
2019 -1.65% -2.02%
2018 -3.24% -2.05%
2017 -5.92% -2.45%
2016 -2.61% -1.79%
2015 -3.24% -2%
2014 -4.38% -2.77%
2013 -5.16% -2.6%
2012 -3.15% -2.33%
2011 -2.87% -5.22%
2010 -2.56% -4.44%
2009 -2.45% -4.76%
2008 -0.83% -3.78%
2007 -0.76% -5.09%
2006 -0.43% -9.27%
2005 -1.11% -7.79%
2004 -1.93% -6.6%
2003 -1.63% -7.19%
2002 -1.62% -8.79%
2001 0.3% -4%
2000 0.09% -3.04%
1999 1.68% -5.27%
1998 -0.41% -7.41%
1997 -1.56% -5.54%
1996 -0.15% -4.36%
1995 0.18% -8.57%
1994 -0.39% -
1993 -1.05% -
1992 -2.23% -
1991 -2.29% -
1990 -2.64% -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -
1980 - -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -0.17%
1942 - 0.31%
1941 - 0.2%
1940 - -0.07%
1939 - 0.19%
1938 - -0.11%
1937 - -0.01%
1936 - 0.08%
1935 - 0.03%
1934 - 0.04%
1933 - -0.03%
1932 - -0.22%
1931 - -0.32%
1930 - -0.26%
1929 - 0.02%
1928 - 0.12%
1927 - 0.15%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1927–1943, retrieved 2026-02-20).

GeoRank.org/economy/bahamas/hungary | 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 Hungary's deficit of $10.9B, or 4.92% of GDP.

Over the past 30 years, the Bahamas recorded a fiscal deficit in 26 of those years, while Hungary ran a deficit in 30 years. On average, the Bahamas posted an annual deficit equal to 2.48% of GDP, compared to deficit of 5.05% of GDP for Hungary.

Inflation comparison by year

Inflation
Bahamas

Hungary
1x
Year Consumer prices inflation
Bahamas Hungary
2024 0.41% 3.7%
2023 3.05% 17.1%
2022 5.61% 14.6%
2021 2.9% 5.11%
2020 0.04% 3.33%
2019 2.49% 3.34%
2018 2.27% 2.85%
2017 1.52% 2.35%
2016 -0.35% 0.39%
2015 1.86% -0.06%
2014 1.51% -0.23%
2013 0.72% 1.73%
2012 1.97% 5.65%
2011 3.2% 3.93%
2010 1.34% 4.86%
2009 2.06% 4.21%
2008 4.49% 6.04%
2007 2.49% 7.96%
2006 2.39% 3.93%
2005 1.59% 3.56%
2004 0.98% 6.74%
2003 3.03% 4.66%
2002 2.17% 5.27%
2001 2.04% 9.12%
2000 1.61% 9.8%
1999 1.25% 10%
1998 1.34% 14.2%
1997 0.54% 18.3%

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

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

Over the past 28 years, the Bahamas has recorded an average annual inflation rate of 1.95%, compared with 6.16% in Hungary. In 2024, inflation was 0.41% in the Bahamas and 3.7% in Hungary.

Top exports between countries

Bahamas
Export category Export value
Hungary
Export category Export value
Textiles & consumer goods $152K
Machinery & equipment $136K
Metals $34K
Chemicals & pharma $31K
Raw materials & minerals $28K
Processed food, beverages & tobacco $8K

Balance of trade

Bahamas Hungary
Current account balance
-$1.05B
2024
$3.52B
2024
Current account balance ranking
127/190
2024
36/190
2024
Current account balance, % of GDP
-6.65%
2024
+1.58%
2024
Goods imports
$4.6B
2024
$130B
2024
Goods exports
$874M
2024
$129B
2024
Service imports
$2.47B
2024
$27.9B
2024
Service exports
$5.9B
2024
$38.9B
2024
Imports of goods and services, % of GDP
41.5%
2024
71.1%
2024
Exports of goods and services, % of GDP
37.8%
2024
75.4%
2024

Economic freedom indices

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

Bahamas Hungary
Economic freedom 65.1 62.5
Economic freedom ranking 66/197 86/197
Property rights 62.7 67.3
Government integrity 67.1 44
Judicial effectiveness 79.8 61.9
Tax burden 96.1 85.1
Government spending 83.8 30.2
Fiscal health 9.1 32.7
Business freedom 69.4 70.8
Labor freedom 66.5 56.5
Monetary freedom 77.2 72.1
Trade freedom 59.4 79.4
Investment freedom 50 80
Financial freedom 60 70

Economic freedom comparison by year

Bahamas
Hungary
1x
Year Economic freedom index
Bahamas Hungary
2026 65.1 62.5
2025 63.2 61.4
2024 62.5 61.2
2023 62.6 64.1
2022 68.7 66.9
2021 64.6 67.2
2020 64.5 66.4
2019 62.9 65
2018 63.3 66.7
2017 61.1 65.8
2016 70.9 66
2015 68.7 66.8
2014 69.8 67
2013 70.1 67.3
2012 68 67.1
2011 68 66.6
2010 67.3 66.1
2009 70.3 66.8
2008 71.1 67.6
2007 72 64.8
2006 72.3 65
2005 72.6 63.5
2004 72.1 62.7
2003 73.5 63
2002 74.4 64.5
2001 74.8 65.6
2000 73.9 64.4
1999 74.7 59.6
1998 74.5 56.9
1997 74.5 55.3
1996 74 56.8
1995 71.8 55.2

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

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

The Economic Freedom Index for the Bahamas is 65.1, ranking 66/197, compared to 62.5 for Hungary, ranking 86/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahamas Hungary
Services, % of GDP
77.2%
2024
59.5%
2024
Industry, % of GDP
9.63%
2024
23.7%
2024
Agriculture, forestry, and fishing, % of GDP
0.51%
2024
2.71%
2024
GNI, Atlas method
$14.9B
2024
$199B
2024
GNI per capita, PPP
$39,550
2024
$47,290
2024
Total reserves including gold
$2.51B
2023
$46.4B
2024
Total reserves ranking
122/177
2023
42/177
2024
Net foreign direct investment
-$77.6M
2024
-$15.8B
2024
Net inflows of foreign direct investment
$241M
2024
-$62.2B
2024
Net outflows of foreign direct investment
$163M
2024
-$78B
2024
Poverty at national poverty lines
9.3%
2020
12.1%
2021
Gross capital formation, % of GDP
26.8%
2024
23.5%
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/hungary | CC BY

Compare countries by 7 more topics

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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. International Monetary Fund (IMF) | Public Finances in Modern History (1927–1994, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2023–2024, retrieved 2026-02-08)
  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.

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.