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Economy of Bahamas vs Iran compared: GDP & Debt

Updated on by Georank team

The Bahamas has a GDP of $15.8B compared to $475B for Iran, ranking 140/197 and 34/197 by economy size, respectively.

The Bahamas has $11.5B in government debt (72.5% of GDP), compared to $162B (34% of GDP) in Iran.

Bahamas vs Iran GDP by year

Bahamas
Iran
1x
Year GDP, current $
Bahamas Iran
2024 $15,832,800,000 $475,252,089,215
2023 $15,271,300,000 $457,510,482,317
2022 $13,896,800,000 $422,662,261,526
2021 $12,037,000,000 $407,350,685,583
2020 $10,363,200,000 $280,934,329,280
2019 $13,277,000,000 $347,988,400,958
2018 $12,819,200,000 $411,903,303,606
2017 $12,446,900,000 $510,239,893,418
2016 $11,880,900,000 $478,618,064,871
2015 $11,837,600,000 $409,191,686,497
2014 $11,139,100,000 $462,284,793,281
2013 $10,475,300,000 $500,399,839,840
2012 $10,720,400,000 $644,019,315,004
2011 $10,070,450,000 $629,082,257,472
2010 $10,095,760,000 $487,069,570,464
2009 $9,981,960,000 $414,059,094,949
2008 $10,526,000,000 $406,070,949,554
2007 $10,618,340,000 $349,736,591,832
2006 $10,167,250,000 $265,602,187,404
2005 $9,836,200,000 $224,970,371,325
2004 $9,055,290,000 $187,754,571,248
2003 $8,870,090,000 $151,911,222,119
2002 $8,881,160,000 $128,626,917,504
2001 $8,317,830,000 $126,878,750,296
2000 $8,076,470,000 $109,591,707,802
1999 $7,683,870,000 $113,848,450,088
1998 $6,833,220,000 $110,276,913,363
1997 $6,332,360,000 $113,919,163,421
1996 $3,609,000,000 $120,403,931,885
1995 $3,429,000,000 $96,419,225,744
1994 $3,259,000,000 $71,841,461,173
1993 $3,092,000,000 $63,743,623,232
1992 $3,109,000,000 $119,768,691,217
1991 $3,111,160,000 $131,637,664,958
1990 $3,166,000,000 $124,813,263,926
1989 $3,062,000,000 $120,496,362,916
1988 $2,817,900,000 $123,057,861,334
1987 $2,713,999,900 $134,009,995,923
1986 $2,472,500,000 $209,094,561,833
1985 $2,320,699,900 $180,183,629,600
1984 $2,041,100,000 $162,276,728,620
1983 $1,732,800,000 $156,365,156,618
1982 $1,578,300,000 $125,948,756,439
1981 $1,426,500,000 $100,499,312,750
1980 $1,335,300,000 $94,362,275,580
1979 $1,139,800,100 $90,391,877,326
1978 $832,400,000 $77,994,316,621
1977 $713,000,000 $80,600,122,702
1976 $642,100,000 $68,055,295,081
1975 $596,200,000 $51,776,222,350
1974 $632,400,000 $46,209,092,072
1973 $670,900,000 $27,081,698,250
1972 $590,900,000 $17,153,463,263
1971 $573,400,000 $13,731,802,833
1970 $539,500,000 $10,976,245,154
1969 $538,700,000 $9,743,089,607
1968 $453,800,000 $8,623,172,960
1967 $398,000,000 $7,555,383,690
1966 $346,800,000 $6,789,938,672
1965 $300,272,048 $6,197,319,929
1964 $266,560,043 $5,379,845,648
1963 $237,650,038 $4,928,628,018
1962 $212,170,034 $4,693,566,416
1961 $190,022,030 $4,426,949,095
1960 $169,736,027 $4,199,134,390

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

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

GDP per capita in Bahamas vs Iran by year

Bahamas
GDP per capita

GDP per capita, PPP
Iran
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahamas Iran
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $39,455 $41,198 $5,190 $19,874
2023 $38,232 $39,090 $5,049 $18,917
2022 $34,957 $36,791 $4,721 $17,546
2021 $30,368 $31,065 $4,605 $15,884
2020 $26,179 $27,205 $3,203 $15,119
2019 $33,640 $36,116 $3,997 $13,928
2018 $32,642 $35,228 $4,783 $15,324
2017 $31,875 $34,282 $6,001 $15,719
2016 $30,617 $32,285 $5,711 $15,195
2015 $30,719 $32,138 $4,953 $14,274
2014 $29,137 $31,726 $5,672 $16,065
2013 $27,643 $30,294 $6,223 $16,215
2012 $28,552 $31,036 $8,114 $17,021
2011 $27,091 $30,074 $8,026 $19,275
2010 $27,473 $29,625 $6,291 $18,628
2009 $27,513 $29,197 $5,416 $17,615
2008 $29,392 $30,679 $5,377 $17,549
2007 $30,052 $31,232 $4,688 $17,384
2006 $29,185 $30,402 $3,619 $15,907
2005 $28,602 $29,143 $3,132 $15,016
2004 $26,650 $27,660 $2,672 $14,425
2003 $26,429 $27,031 $2,209 $13,755
2002 $26,782 $27,171 $1,891 $12,554
2001 $25,372 $26,351 $1,881 $11,533
2000 $24,940 $25,422 $1,650 $11,187
1999 $24,041 $24,184 $1,740 $10,489
1998 $21,667 $22,556 $1,709 $10,285
1997 $20,368 $21,606 $1,790 $10,101
1996 $11,784 $21,287 $1,915 $9,916
1995 $11,375 $20,377 $1,550 $9,255
1994 $10,991 $19,441 $1,168 $8,951
1993 $10,613 $18,781 $1,038 $8,933
1992 $10,873 $18,636 $1,957 $8,888
1991 $11,082 $19,296 $2,194 $8,580
1990 $11,473 $19,817 $2,138 $7,566
1989 $11,291 - $2,125 -
1988 $10,576 - $2,234 -
1987 $10,361 - $2,513 -
1986 $9,601 - $4,064 -
1985 $9,167 - $3,634 -
1984 $8,202 - $3,395 -
1983 $7,081 - $3,397 -
1982 $6,559 - $2,845 -
1981 $6,029 - $2,393 -
1980 $5,743 - $2,368 -
1979 $4,994 - $2,352 -
1978 $3,720 - $2,101 -
1977 $3,253 - $2,243 -
1976 $2,993 - $1,954 -
1975 $2,841 - $1,532 -
1974 $3,080 - $1,409 -
1973 $3,341 - $851 -
1972 $3,014 - $555 -
1971 $3,004 - $457 -
1970 $2,916 - $377 -
1969 $3,027 - $345 -
1968 $2,668 - $314 -
1967 $2,453 - $283.7 -
1966 $2,239 - $262.9 -
1965 $2,030 - $247.5 -
1964 $1,883 - $221.7 -
1963 $1,759 - $209.6 -
1962 $1,651 - $205.8 -
1961 $1,555 - $200.1 -
1960 $1,459 - $195.6 -

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

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

The Bahamas' GDP per capita is $39,455, ranking 30/197, compared to $5,190 in Iran, ranking 119/197. Adjusted for purchasing power (GDP per capita PPP), the Bahamas ranks 57th at $41,198, while Iran ranks 97th at $19,874.

Economic indicators

Bahamas Iran
Gross domestic product
$15.8B
2024
$475B
2024
GDP rank
140/197
2024
34/197
2024
GDP growth
3.38%
2023-2024
3.66%
2023-2024
GDP per capita
$39,455
2024
$5,190
2024
GDP per capita rank
30/197
2024
119/197
2024
GDP per capita, PPP
$41,198
2024
$19,874
2024
GDP per capita PPP rank
57/197
2024
97/197
2024
Government debt
$11.5B
2024
$162B
2024
Debt-to-GDP ratio
72.5%
2024
34%
2024
Government debt per person
$28,616
2024
$1,764
2024
Government debt per person rank
25/185
2024
122/185
2024
Average annual personal income after taxes
$29,535
2026
$2,964
2026
Market capitalization of domestic companies n/a
$172B
2024
Income share by richest 10% n/a
28.2%
2023
Income share by poorest 10% n/a
2.8%
2023
Government expenditure, % of GDP
20.6%
2024
14.2%
2024
Consumer prices inflation
0.41%
2023-2024
32.5%
2023-2024
Central bank interest rate
4%
2016
23%
2023
Unemployment rate
8.65%
2023
7.63%
2024
Population
405203
93468444

Spending and national debt comparison by year

Bahamas
Spending

Debt
Iran
Spending

Debt
1x
Year % of GDP
Bahamas Iran
Government spending Government debt Government spending Government debt
2024 20.6% 72.5% 14.2% 34%
2023 22.2% 74.8% 12.8% 29.6%
2022 23.9% 79.1% 12.8% 34.5%
2021 26.9% 84.5% 13.4% 39.9%
2020 28.2% 81.9% 12.1% 47.1%
2019 19.9% 59.3% 13.6% 44.6%
2018 19.2% 60.6% 14.8% 41.6%
2017 22.5% 53.4% 16.4% 43.2%
2016 19.4% 51% 16.3% 45.9%
2015 17.9% 48.5% 14.1% 32.1%
2014 17.6% 46.3% 12.3% 10.9%
2013 18.4% 44.8% 11.5% 10.2%
2012 16.5% 36.4% 11.4% 11.7%
2011 17.1% 35.3% 14.6% 10.6%
2010 15.3% 33.7% 14.1% 12.8%
2009 15.6% 30.9% 15.7% 11.5%
2008 14.4% 25.5% 16.8% 10.6%
2007 13.3% 23% 14.2% 13.5%
2006 13% 22.8% 18.7% 15.2%
2005 12.3% 22% 17.9% 18.3%
2004 12.4% 21.4% 15.1% 21.1%
2003 11.8% 20.9% 15.7% 21.9%
2002 11.3% 18.8% 15.6% 23.4%
2001 11.2% 18.2% 13.6% 21%
2000 11.3% 18.7% 13.3% 18.2%
1999 8.78% 18.7% 15.7% 22.2%
1998 11.6% 20% 16.9% 29.6%
1997 12.5% 20.8% 17.4% 30.9%
1996 11.2% 20.2% 17.3% 29.3%
1995 11.2% 20.5% 21% 31.2%
1994 11.4% 20.4% 23% 41.7%
1993 11.5% 19.8% 27.2% 25.6%
1992 11.8% 17.9% 14.4% 25.2%
1991 12% 15.4% 14% 29.3%
1990 11.4% 13.2% 16.4% 37%
1989 - - 20% 48.8%
1988 - - 23.6% 53.2%
1987 - - 18.6% 48.6%
1986 - - 19% 47.4%
1985 - - 21.6% 8.73%
1984 - - 23.7% 10%
1983 - - 27.5% 35.7%
1982 - - 29.7% 47.7%
1981 - - 33.7% 47.6%
1980 - - 35.8% 35.5%
1979 - - - -
1978 - - - -
1977 - - - 9.23%
1976 - - - 6.92%
1975 - - - 8.81%
1974 - - - 6.68%
1973 - - - 12.8%
1972 - - - 12.7%
1971 - - - 14.2%
1970 - - - 14.1%
1969 - - - -
1968 - - 23.6% -
1967 - - 22.3% -
1966 - - 20.5% -
1965 - - 16.3% 14.9%
1964 - - 15.4% 15.2%
1963 - - 14.8% 12.4%
1962 - - 15.6% 13.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1995, retrieved 2026-02-20).

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

In 2024, the Bahamas' government spending was $3.26B, accounting for 20.6% of its GDP, while Iran spent $67.5B, or 14.2% of GDP.

Debt-to-GDP ratio is 72.5% in the Bahamas and 34% in Iran, ranking 53/185 and 147/185, respectively.

Government deficit by year

Deficit/surplus
Bahamas

Iran
1x
Year Deficit/surplus, % of GDP
Bahamas Iran
2024 -1.18% -3.83%
2023 -3.49% -2.54%
2022 -5.16% -2.64%
2021 -11.1% -3.01%
2020 -8.09% -4.87%
2019 -1.65% -4.3%
2018 -3.24% -1.59%
2017 -5.92% -1.55%
2016 -2.61% -1.7%
2015 -3.24% -1.3%
2014 -4.38% -0.91%
2013 -5.16% -0.72%
2012 -3.15% -0.5%
2011 -2.87% -0.66%
2010 -2.56% -0.84%
2009 -2.45% -3.3%
2008 -0.83% -4.39%
2007 -0.76% -2.41%
2006 -0.43% -4.91%
2005 -1.11% -2.44%
2004 -1.93% -2.45%
2003 -1.63% -2.76%
2002 -1.62% -2.88%
2001 0.3% 0.02%
2000 0.09% 5.42%
1999 1.68% -0.51%
1998 -0.41% -5.03%
1997 -1.56% -1.81%
1996 -0.15% -0.75%
1995 0.18% -2.63%
1994 -0.39% -3.36%
1993 -1.05% -5.15%
1992 -2.23% -0.86%
1991 -2.29% -1.64%
1990 -2.64% -1.73%
1989 - -4.45%
1988 - -10.3%
1987 - -6.84%
1986 - -7.84%
1985 - -3.74%
1984 - -4.02%
1983 - -6.15%
1982 - -5.55%
1981 - -10.7%
1980 - -14.2%
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -4.57%
1967 - -4%
1966 - -2.63%
1965 - -1.23%
1964 - -0.04%
1963 - 0.26%
1962 - -1.39%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-02-20).

GeoRank.org/economy/bahamas/iran | 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 Iran's deficit of $18.2B, or 3.83% of GDP.

Over the past 35 years, the Bahamas recorded a fiscal deficit in 31 of those years, while Iran ran a deficit in 33 years. On average, the Bahamas posted an annual deficit equal to 2.37% of GDP, compared to deficit of 2.13% of GDP for Iran.

Inflation comparison by year

Inflation
Bahamas

Iran
1x
Year Consumer prices inflation
Bahamas Iran
2024 0.41% 32.5%
2023 3.05% 44.6%
2022 5.61% 43.5%
2021 2.9% 43.4%
2020 0.04% 30.6%
2019 2.49% 39.9%
2018 2.27% 18%
2017 1.52% 8.04%
2016 -0.35% 7.25%
2015 1.86% 12.5%
2014 1.51% 16.6%
2013 0.72% 36.6%
2012 1.97% 27.3%
2011 3.2% 26.3%
2010 1.34% 10.1%
2009 2.06% 13.6%
2008 4.49% 25.4%
2007 2.49% 17.3%
2006 2.39% 10%
2005 1.59% 13.4%
2004 0.98% 14.8%
2003 3.03% 16.5%
2002 2.17% 14.3%
2001 2.04% 11.3%
2000 1.61% 14.5%
1999 1.25% 20.1%
1998 1.34% 17.9%
1997 0.54% 17.3%

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

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

Over the past 28 years, the Bahamas has recorded an average annual inflation rate of 1.95%, compared with 21.6% in Iran. In 2024, inflation was 0.41% in the Bahamas and 32.5% in Iran.

Balance of trade

Bahamas Iran
Current account balance
-$1.05B
2024
$12.5B
2000
Current account balance ranking
127/190
2024
22/190
2000
Current account balance, % of GDP
-6.65%
2024
+11.4%
2000
Goods imports
$4.6B
2024
$15.2B
2000
Goods exports
$874M
2024
$28.3B
2000
Service imports
$2.47B
2024
$2.3B
2000
Service exports
$5.9B
2024
$1.38B
2000
Imports of goods and services, % of GDP
41.5%
2024
28.5%
2024
Exports of goods and services, % of GDP
37.8%
2024
23.6%
2024

Economic freedom indices

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

Bahamas Iran
Economic freedom 65.1 41.8
Economic freedom ranking 66/197 185/197
Property rights 62.7 20.2
Government integrity 67.1 16.2
Judicial effectiveness 79.8 18.7
Tax burden 96.1 81.3
Government spending 83.8 94.7
Fiscal health 9.1 83.3
Business freedom 69.4 37.4
Labor freedom 66.5 41.8
Monetary freedom 77.2 42.2
Trade freedom 59.4 55.8
Investment freedom 50 5
Financial freedom 60 5

Economic freedom comparison by year

Bahamas
Iran
1x
Year Economic freedom index
Bahamas Iran
2026 65.1 41.8
2025 63.2 42.5
2024 62.5 41.2
2023 62.6 42.2
2022 68.7 42.4
2021 64.6 47.2
2020 64.5 49.2
2019 62.9 51.1
2018 63.3 50.9
2017 61.1 50.5
2016 70.9 43.5
2015 68.7 41.8
2014 69.8 40.3
2013 70.1 43.2
2012 68 42.3
2011 68 42.1
2010 67.3 43.4
2009 70.3 44.6
2008 71.1 45
2007 72 45
2006 72.3 45
2005 72.6 50.5
2004 72.1 42.8
2003 73.5 43.2
2002 74.4 36.4
2001 74.8 35.9
2000 73.9 36.1
1999 74.7 36.8
1998 74.5 36
1997 74.5 34.5
1996 74 36.1
1995 71.8 -

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

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

The Economic Freedom Index for the Bahamas is 65.1, ranking 66/197, compared to 41.8 for Iran, ranking 185/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahamas Iran
Services, % of GDP
77.2%
2024
49.8%
2024
Industry, % of GDP
9.63%
2024
36.1%
2024
Agriculture, forestry, and fishing, % of GDP
0.51%
2024
10.8%
2024
GNI, Atlas method
$14.9B
2024
$469B
2024
GNI per capita, PPP
$39,550
2024
$19,820
2024
Total reserves including gold
$2.51B
2023
$7.69B
1982
Total reserves ranking
122/177
2023
85/177
1982
Net foreign direct investment
-$77.6M
2024
-$39M
2000
Net inflows of foreign direct investment
$241M
2024
$1.45B
2024
Net outflows of foreign direct investment
$163M
2024
$89.4M
2024
Servicing debt to the IMF, % of GNI n/a
0.08%
2024
Poverty at national poverty lines
9.3%
2020
18.7%
2020
Gross capital formation, % of GDP
26.8%
2024
44.3%
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/iran | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1962–1995, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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.