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Economy of Bahamas vs Kuwait compared: GDP & Debt

Updated on by Georank team

The Bahamas has a GDP of $15.8B compared to $160B for Kuwait, ranking 140/197 and 59/197 by economy size, respectively.

The Bahamas has $11.5B in government debt (72.5% of GDP), compared to $4.68B (2.92% of GDP) in Kuwait.

Bahamas vs Kuwait GDP by year

Bahamas
Kuwait
1x
Year GDP, current $
Bahamas Kuwait
2024 $15,832,800,000 $160,227,273,053
2023 $15,271,300,000 $165,384,407,116
2022 $13,896,800,000 $183,502,046,694
2021 $12,037,000,000 $148,350,671,489
2020 $10,363,200,000 $111,045,470,606
2019 $13,277,000,000 $140,856,394,861
2018 $12,819,200,000 $138,646,316,351
2017 $12,446,900,000 $120,687,539,806
2016 $11,880,900,000 $109,406,674,125
2015 $11,837,600,000 $114,585,555,689
2014 $11,139,100,000 $162,650,450,685
2013 $10,475,300,000 $174,168,116,535
2012 $10,720,400,000 $174,047,662,680
2011 $10,070,450,000 $154,039,231,246
2010 $10,095,760,000 $115,416,245,242
2009 $9,981,960,000 $105,968,691,905
2008 $10,526,000,000 $147,379,737,230
2007 $10,618,340,000 $114,634,043,362
2006 $10,167,250,000 $101,557,330,723
2005 $9,836,200,000 $80,798,630,137
2004 $9,055,290,000 $59,439,090,601
2003 $8,870,090,000 $47,874,582,232
2002 $8,881,160,000 $38,135,788,414
2001 $8,317,830,000 $34,889,559,870
2000 $8,076,470,000 $37,718,743,480
1999 $7,683,870,000 $30,122,365,849
1998 $6,833,220,000 $25,943,705,784
1997 $6,332,360,000 $30,350,190,704
1996 $3,609,000,000 $31,492,373,309
1995 $3,429,000,000 $27,186,980,647
1994 $3,259,000,000 $24,848,483,838
1993 $3,092,000,000 $23,941,391,391
1992 $3,109,000,000 $19,858,555,215
1991 $3,111,160,000 $11,009,993,703
1990 $3,166,000,000 $18,427,777,778
1989 $3,062,000,000 $24,313,855,653
1988 $2,817,900,000 $20,690,322,153
1987 $2,713,999,900 $22,368,704,134
1986 $2,472,500,000 $17,903,989,745
1985 $2,320,699,900 $21,445,970,614
1984 $2,041,100,000 $21,700,082,753
1983 $1,732,800,000 $20,871,081,080
1982 $1,578,300,000 $21,577,153,356
1981 $1,426,500,000 $25,058,020,338
1980 $1,335,300,000 $28,638,868,356
1979 $1,139,800,100 $24,749,063,922
1978 $832,400,000 $15,503,557,496
1977 $713,000,000 $14,137,406,741
1976 $642,100,000 $13,132,252,802
1975 $596,200,000 $12,022,811,621
1974 $632,400,000 $13,006,948,296
1973 $670,900,000 $5,408,804,607
1972 $590,900,000 $4,450,537,925
1971 $573,400,000 $3,880,392,195
1970 $539,500,000 $2,873,638,851
1969 $538,700,000 $2,769,198,892
1968 $453,800,000 $2,662,798,935
1967 $398,000,000 $2,441,599,023
1966 $346,800,000 $2,391,199,044
1965 $300,272,048 $2,097,199,161
1964 $266,560,043 $2,071,668,533
1963 $237,650,038 $1,900,895,857
1962 $212,170,034 $1,828,107,503
1961 $190,022,030 -
1960 $169,736,027 -

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

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

GDP per capita in Bahamas vs Kuwait by year

Bahamas
GDP per capita

GDP per capita, PPP
Kuwait
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahamas Kuwait
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $39,455 $41,198 $32,718 $52,444
2023 $38,232 $39,090 $34,076 $53,025
2022 $34,957 $36,791 $39,982 $55,043
2021 $30,368 $31,065 $34,019 $50,652
2020 $26,179 $27,205 $25,236 $41,462
2019 $33,640 $36,116 $31,708 $50,703
2018 $32,642 $35,228 $32,068 $51,371
2017 $31,875 $34,282 $29,048 $46,566
2016 $30,617 $32,285 $27,324 $41,862
2015 $30,719 $32,138 $29,882 $45,267
2014 $29,137 $31,726 $44,369 $68,337
2013 $27,643 $30,294 $49,651 $76,813
2012 $28,552 $31,036 $52,155 $82,090
2011 $27,091 $30,074 $49,170 $79,037
2010 $27,473 $29,625 $39,212 $75,184
2009 $27,513 $29,197 $37,907 $80,110
2008 $29,392 $30,679 $55,585 $90,337
2007 $30,052 $31,232 $45,709 $91,435
2006 $29,185 $30,402 $42,947 $89,075
2005 $28,602 $29,143 $36,123 $84,968
2004 $26,650 $27,660 $27,552 $77,227
2003 $26,429 $27,031 $22,691 $69,752
2002 $26,782 $27,171 $18,513 $59,713
2001 $25,372 $26,351 $17,374 $58,553
2000 $24,940 $25,422 $19,296 $58,703
1999 $24,041 $24,184 $15,854 $56,406
1998 $21,667 $22,556 $14,067 $58,344
1997 $20,368 $21,606 $16,977 $57,420
1996 $11,784 $21,287 $18,201 $56,913
1995 $11,375 $20,377 $16,168 $57,163
1994 $10,991 $19,441 $14,930 $53,946
1993 $10,613 $18,781 $14,318 $48,482
1992 $10,873 $18,636 $12,146 $36,149
1991 $11,082 $19,296 $8,147 $23,390
1990 $11,473 $19,817 $10,938 $30,763
1989 $11,291 - $10,965 -
1988 $10,576 - $9,692 -
1987 $10,361 - $10,896 -
1986 $9,601 - $9,077 -
1985 $9,167 - $11,322 -
1984 $8,202 - $11,919 -
1983 $7,081 - $11,965 -
1982 $6,559 - $12,979 -
1981 $6,029 - $15,825 -
1980 $5,743 - $19,032 -
1979 $4,994 - $17,386 -
1978 $3,720 - $11,567 -
1977 $3,253 - $11,238 -
1976 $2,993 - $11,141 -
1975 $2,841 - $10,882 -
1974 $3,080 - $12,527 -
1973 $3,341 - $5,532 -
1972 $3,014 - $4,836 -
1971 $3,004 - $4,486 -
1970 $2,916 - $3,552 -
1969 $3,027 - $3,695 -
1968 $2,668 - $3,872 -
1967 $2,453 - $3,887 -
1966 $2,239 - $4,176 -
1965 $2,030 - $4,024 -
1964 $1,883 - $4,379 -
1963 $1,759 - $4,445 -
1962 $1,651 - $4,748 -
1961 $1,555 - - -
1960 $1,459 - - -

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

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

The Bahamas' GDP per capita is $39,455, ranking 30/197, compared to $32,718 in Kuwait, ranking 37/197. Adjusted for purchasing power (GDP per capita PPP), the Bahamas ranks 57th at $41,198, while Kuwait ranks 40th at $52,444.

Economic indicators

Bahamas Kuwait
Gross domestic product
$15.8B
2024
$160B
2024
GDP rank
140/197
2024
59/197
2024
GDP growth
3.38%
2023-2024
-2.56%
2023-2024
GDP per capita
$39,455
2024
$32,718
2024
GDP per capita rank
30/197
2024
37/197
2024
GDP per capita, PPP
$41,198
2024
$52,444
2024
GDP per capita PPP rank
57/197
2024
40/197
2024
Government debt
$11.5B
2024
$4.68B
2024
Debt-to-GDP ratio
72.5%
2024
2.92%
2024
Government debt per person
$28,616
2024
$956
2024
Government debt per person rank
25/185
2024
143/185
2024
Average annual personal income after taxes
$29,535
2026
$23,828
2026
Market capitalization of domestic companies n/a
$141B
2024
Government expenditure, % of GDP
20.6%
2024
50.4%
2024
Consumer prices inflation
0.41%
2023-2024
2.9%
2023-2024
Central bank interest rate
4%
2016
3.5%
2025
Unemployment rate
8.65%
2023
2.16%
2016
Population
405203
5100145

Spending and national debt comparison by year

Bahamas
Spending

Debt
Kuwait
Spending

Debt
1x
Year % of GDP
Bahamas Kuwait
Government spending Government debt Government spending Government debt
2024 20.6% 72.5% 50.4% 2.92%
2023 22.2% 74.8% 48.3% 3.13%
2022 23.9% 79.1% 39.6% 2.95%
2021 26.9% 84.5% 48.3% 7.2%
2020 28.2% 81.9% 62.9% 10.2%
2019 19.9% 59.3% 50.3% 10.5%
2018 19.2% 60.6% 51.1% 14.3%
2017 22.5% 53.4% 51.9% 19.6%
2016 19.4% 51% 54.1% 9.88%
2015 17.9% 48.5% 55.4% 4.6%
2014 17.6% 46.3% 45% 3.43%
2013 18.4% 44.8% 38.4% 3.09%
2012 16.5% 36.4% 38.2% 3.6%
2011 17.1% 35.3% 39.7% 4.64%
2010 15.3% 33.7% 45.5% 6.16%
2009 15.6% 30.9% 42.9% 6.65%
2008 14.4% 25.5% 40.9% 5.38%
2007 13.3% 23% 30.4% 7.05%
2006 13% 22.8% 32.3% 7.79%
2005 12.3% 22% 28.8% 10.2%
2004 12.4% 21.4% 35.3% 13.9%
2003 11.8% 20.9% 38.2% 17.2%
2002 11.3% 18.8% 42.8% 21.3%
2001 11.2% 18.2% 41.4% 23%
2000 11.3% 18.7% 29.9% 21.4%
1999 8.78% 18.7% 44.5% 25.5%
1998 11.6% 20% 51.7% 25.6%
1997 12.5% 20.8% 43.8% 24.3%
1996 11.2% 20.2% 42.8% 26.5%
1995 11.2% 20.5% 52% 34.9%
1994 11.4% 20.4% 57.8% 37.7%
1993 11.5% 19.8% 58.2% 28.8%
1992 11.8% 17.9% 77.6% 27.9%
1991 12% 15.4% 208.9% 45.3%
1990 11.4% 13.2% 122.9% -

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

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

In 2024, the Bahamas' government spending was $3.26B, accounting for 20.6% of its GDP, while Kuwait spent $80.8B, or 50.4% of GDP.

Debt-to-GDP ratio is 72.5% in the Bahamas and 2.92% in Kuwait, ranking 53/185 and 184/185, respectively.

Government deficit by year

Deficit/surplus
Bahamas

Kuwait
1x
Year Deficit/surplus, % of GDP
Bahamas Kuwait
2024 -1.18% 23.8%
2023 -3.49% 28.2%
2022 -5.16% 30%
2021 -11.1% 9.98%
2020 -8.09% 0.14%
2019 -1.65% 13%
2018 -3.24% 17.5%
2017 -5.92% 15.3%
2016 -2.61% 13.1%
2015 -3.24% 16.6%
2014 -4.38% 30%
2013 -5.16% 40.6%
2012 -3.15% 40.7%
2011 -2.87% 38.8%
2010 -2.56% 31.9%
2009 -2.45% 31.3%
2008 -0.83% 21.3%
2007 -0.76% 37.1%
2006 -0.43% 28%
2005 -1.11% 38.9%
2004 -1.93% 32.5%
2003 -1.63% 27.2%
2002 -1.62% 31%
2001 0.3% 45.2%
2000 0.09% 52.5%
1999 1.68% 28.2%
1998 -0.41% 19.5%
1997 -1.56% 29.5%
1996 -0.15% 24.3%
1995 0.18% 11.7%
1994 -0.39% 1.76%
1993 -1.05% -3.12%
1992 -2.23% -28.1%
1991 -2.29% -145%
1990 -2.64% -50%

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

GeoRank.org/economy/bahamas/kuwait | 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 Kuwait's surplus of $38.1B, or 23.8% of GDP.

Over the past 35 years, the Bahamas recorded a fiscal deficit in 31 of those years, while Kuwait ran a deficit in 4 years. On average, the Bahamas posted an annual deficit equal to 2.37% of GDP, compared to surplus of 16.7% of GDP for Kuwait.

Inflation comparison by year

Inflation
Bahamas

Kuwait
1x
Year Consumer prices inflation
Bahamas Kuwait
2024 0.41% 2.9%
2023 3.05% 3.64%
2022 5.61% 3.98%
2021 2.9% 3.42%
2020 0.04% 2.1%
2019 2.49% 1.09%
2018 2.27% 0.54%
2017 1.52% 2.17%
2016 -0.35% 3.2%
2015 1.86% 3.27%
2014 1.51% 2.91%
2013 0.72% 2.68%
2012 1.97% 3.26%
2011 3.2% 4.84%
2010 1.34% 4.5%
2009 2.06% 4.61%
2008 4.49% 10.6%
2007 2.49% 5.48%
2006 2.39% 3.06%
2005 1.59% 4.14%
2004 0.98% 1.25%
2003 3.03% 0.96%
2002 2.17% 0.89%
2001 2.04% 1.3%
2000 1.61% 1.81%
1999 1.25% 2.99%
1998 1.34% 0.13%
1997 0.54% 0.68%

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

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

Over the past 28 years, the Bahamas has recorded an average annual inflation rate of 1.95%, compared with 2.94% in Kuwait. In 2024, inflation was 0.41% in the Bahamas and 2.9% in Kuwait.

Top exports between countries

Bahamas
Export category Export value
Kuwait
Export category Export value
Metals $375K

Balance of trade

Bahamas Kuwait
Current account balance
-$1.05B
2024
$46.7B
2024
Current account balance ranking
127/190
2024
15/190
2024
Current account balance, % of GDP
-6.65%
2024
+29.1%
2024
Goods imports
$4.6B
2024
$33.4B
2024
Goods exports
$874M
2024
$77.5B
2024
Service imports
$2.47B
2024
$28.1B
2024
Service exports
$5.9B
2024
$12.2B
2024
Imports of goods and services, % of GDP
41.5%
2024
38.3%
2023
Exports of goods and services, % of GDP
37.8%
2024
57.7%
2023

Economic freedom indices

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

Bahamas Kuwait
Economic freedom 65.1 59.9
Economic freedom ranking 66/197 100/197
Property rights 62.7 42
Government integrity 67.1 47.9
Judicial effectiveness 79.8 43.4
Tax burden 96.1 97.7
Government spending 83.8 36.2
Fiscal health 9.1 99.9
Business freedom 69.4 57.4
Labor freedom 66.5 49.2
Monetary freedom 77.2 68.7
Trade freedom 59.4 75.8
Investment freedom 50 50
Financial freedom 60 50

Economic freedom comparison by year

Bahamas
Kuwait
1x
Year Economic freedom index
Bahamas Kuwait
2026 65.1 59.9
2025 63.2 59.9
2024 62.5 58.5
2023 62.6 56.7
2022 68.7 58.3
2021 64.6 64.1
2020 64.5 63.2
2019 62.9 60.8
2018 63.3 62.2
2017 61.1 65.1
2016 70.9 62.7
2015 68.7 62.5
2014 69.8 62.3
2013 70.1 63.1
2012 68 62.5
2011 68 64.9
2010 67.3 67.7
2009 70.3 65.6
2008 71.1 68.1
2007 72 66.4
2006 72.3 66.5
2005 72.6 64.6
2004 72.1 63.6
2003 73.5 66.7
2002 74.4 65.4
2001 74.8 68.2
2000 73.9 69.7
1999 74.7 69.5
1998 74.5 66.3
1997 74.5 64.8
1996 74 66.1
1995 71.8 -

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

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

The Economic Freedom Index for the Bahamas is 65.1, ranking 66/197, compared to 59.9 for Kuwait, ranking 100/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahamas Kuwait
Services, % of GDP
77.2%
2024
55.9%
2024
Industry, % of GDP
9.63%
2024
57.1%
2024
Agriculture, forestry, and fishing, % of GDP
0.51%
2024
0.49%
2024
GNI, Atlas method
$14.9B
2024
$200B
2024
GNI per capita, PPP
$39,550
2024
$63,270
2024
Total reserves including gold
$2.51B
2023
$50.7B
2024
Total reserves ranking
122/177
2023
41/177
2024
Net foreign direct investment
-$77.6M
2024
$9.71B
2024
Net inflows of foreign direct investment
$241M
2024
$615M
2024
Net outflows of foreign direct investment
$163M
2024
$10.3B
2024
Poverty at national poverty lines
9.3%
2020
n/a
Gross capital formation, % of GDP
26.8%
2024
17.7%
2023

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/kuwait | 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. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  6. LivingCost (2026, retrieved 2025-10-14)
  7. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)
  8. TradeMap (2022, 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.

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.