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Economy of Bahamas vs Malaysia compared: GDP & Debt

Updated on by Georank

The Bahamas has a GDP of $15.8B compared to $472B for Malaysia, ranking 145/197 and 35/197 by economy size, respectively.

The Bahamas has $11.7B in government debt (73.8% of GDP), compared to $334B (70.7% of GDP) in Malaysia.

Bahamas vs Malaysia GDP by year

Bahamas
Malaysia
1x
Year GDP, current $
Bahamas Malaysia
2025 - $472,193,128,645
2024 $15,832,800,000 $422,227,005,429
2023 $15,271,300,000 $399,949,418,753
2022 $13,896,800,000 $407,830,525,990
2021 $12,037,000,000 $373,784,553,030
2020 $10,363,200,000 $337,456,163,961
2019 $13,277,000,000 $365,177,721,022
2018 $12,819,200,000 $358,788,845,713
2017 $12,446,900,000 $319,109,094,160
2016 $11,880,900,000 $301,256,033,870
2015 $11,837,600,000 $301,355,266,965
2014 $11,139,100,000 $338,066,095,097
2013 $10,475,300,000 $323,276,235,524
2012 $10,720,400,000 $314,443,047,642
2011 $10,070,450,000 $297,951,668,675
2010 $10,095,760,000 $255,017,638,456
2009 $9,981,960,000 $202,257,453,037
2008 $10,526,000,000 $230,811,614,370
2007 $10,618,340,000 $193,549,569,478
2006 $10,167,250,000 $162,692,258,307
2005 $9,836,200,000 $143,534,405,819
2004 $9,055,290,000 $124,749,473,684
2003 $8,870,090,000 $110,202,368,421
2002 $8,881,160,000 $100,845,526,316
2001 $8,317,830,000 $92,783,947,368
2000 $8,076,470,000 $93,789,736,842
1999 $7,683,870,000 $79,148,421,053
1998 $6,833,220,000 $72,167,498,981
1997 $6,332,360,000 $100,005,323,302
1996 $3,609,000,000 $100,855,393,910
1995 $3,429,000,000 $88,705,342,903
1994 $3,259,000,000 $74,478,356,958
1993 $3,092,000,000 $66,894,966,969
1992 $3,109,000,000 $59,167,550,163
1991 $3,111,160,000 $49,143,148,094
1990 $3,166,000,000 $44,024,585,240
1989 $3,062,000,000 $38,847,965,293
1988 $2,817,900,000 $35,272,109,220
1987 $2,713,999,900 $32,181,210,158
1986 $2,472,500,000 $27,734,111,400
1985 $2,320,699,900 $31,199,633,353
1984 $2,041,100,000 $33,942,897,422
1983 $1,732,800,000 $30,347,442,111
1982 $1,578,300,000 $26,804,493,635
1981 $1,426,500,000 $25,004,285,792
1980 $1,335,300,000 $24,488,224,677
1979 $1,139,800,100 $21,213,264,962
1978 $832,400,000 $16,358,079,862
1977 $713,000,000 $13,139,488,633
1976 $642,100,000 $11,050,234,599
1975 $596,200,000 $9,298,800,799
1974 $632,400,000 $9,496,204,302
1973 $670,900,000 $7,662,902,678
1972 $590,900,000 $5,043,347,250
1971 $573,400,000 $4,244,395,956
1970 $539,500,000 $3,864,145,667
1969 $538,700,000 $3,664,552,041
1968 $453,800,000 $3,330,371,551
1967 $398,000,000 $3,188,924,677
1966 $346,800,000 $3,143,517,944
1965 $300,272,048 $2,956,337,669
1964 $266,560,043 $2,674,423,922
1963 $237,650,038 $2,510,110,348
1962 $212,170,034 $2,001,489,602
1961 $190,022,030 $1,901,856,123
1960 $169,736,027 $1,916,229,477

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Bahamas vs Malaysia by year

Bahamas
GDP per capita

GDP per capita, PPP
Malaysia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahamas Malaysia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 - - $13,125 -
2024 $39,455 $41,198 $11,874 $38,779
2023 $38,232 $39,090 $11,386 $36,467
2022 $34,957 $36,791 $11,755 $34,420
2021 $30,368 $31,065 $10,903 $29,823
2020 $26,179 $27,205 $9,958 $27,475
2019 $33,640 $36,116 $10,920 $28,934
2018 $32,642 $35,228 $10,902 $27,794
2017 $31,875 $34,282 $9,863 $26,416
2016 $30,617 $32,285 $9,477 $25,286
2015 $30,719 $32,138 $9,649 $24,526
2014 $29,137 $31,726 $11,013 $24,307
2013 $27,643 $30,294 $10,714 $23,161
2012 $28,552 $31,036 $10,601 $22,639
2011 $27,091 $30,074 $10,217 $21,324
2010 $27,473 $29,625 $8,899 $20,193
2009 $27,513 $29,197 $7,191 $18,923
2008 $29,392 $30,679 $8,372 $19,480
2007 $30,052 $31,232 $7,169 $18,617
2006 $29,185 $30,402 $6,158 $17,426
2005 $28,602 $29,143 $5,556 $16,371
2004 $26,650 $27,660 $4,939 $15,416
2003 $26,429 $27,031 $4,465 $14,387
2002 $26,782 $27,171 $4,184 $13,656
2001 $25,372 $26,351 $3,944 $13,072
2000 $24,940 $25,422 $4,084 $13,027
1999 $24,041 $24,184 $3,528 $11,980
1998 $21,667 $22,556 $3,294 $11,398
1997 $20,368 $21,606 $4,679 $12,469
1996 $11,784 $21,287 $4,837 $11,709
1995 $11,375 $20,377 $4,363 $10,720
1994 $10,991 $19,441 $3,758 $9,806
1993 $10,613 $18,781 $3,462 $9,018
1992 $10,873 $18,636 $3,141 $8,224
1991 $11,082 $19,296 $2,679 $7,583
1990 $11,473 $19,817 $2,469 $6,887
1989 $11,291 - $2,244 -
1988 $10,576 - $2,100 -
1987 $10,361 - $1,977 -
1986 $9,601 - $1,760 -
1985 $9,167 - $2,046 -
1984 $8,202 - $2,300 -
1983 $7,081 - $2,124 -
1982 $6,559 - $1,938 -
1981 $6,029 - $1,866 -
1980 $5,743 - $1,886 -
1979 $4,994 - $1,680 -
1978 $3,720 - $1,327 -
1977 $3,253 - $1,092 -
1976 $2,993 - $940 -
1975 $2,841 - $811 -
1974 $3,080 - $848 -
1973 $3,341 - $701 -
1972 $3,014 - $472 -
1971 $3,004 - $407 -
1970 $2,916 - $380 -
1969 $3,027 - $368 -
1968 $2,668 - $342 -
1967 $2,453 - $335 -
1966 $2,239 - $339 -
1965 $2,030 - $326 -
1964 $1,883 - $303 -
1963 $1,759 - $291.8 -
1962 $1,651 - $238.8 -
1961 $1,555 - $232.9 -
1960 $1,459 - $240.8 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

The Bahamas' GDP per capita is $39,455, ranking 30/197, compared to $13,125 in Malaysia, ranking 78/197. Adjusted for purchasing power (GDP per capita PPP), the Bahamas ranks 57th at $41,198, while Malaysia ranks 60th at $38,779.

Economic indicators

Bahamas Malaysia
Gross domestic product
$15.8B
2024
$472B
2025
GDP rank
145/197
2024
35/197
2025
GDP growth
3.38%
2023-2024
5.17%
2024-2025
GDP per capita
$39,455
2024
$13,125
2025
GDP per capita rank
30/197
2024
78/197
2025
GDP per capita, PPP
$41,198
2024
$38,779
2024
GDP per capita PPP rank
57/197
2024
60/197
2024
Government debt
$11.7B
2024
$334B
2025
Debt-to-GDP ratio
73.8%
2025
70.7%
2025
Government debt per person
$29,123
2024
$9,273
2025
Government debt per person rank
25/185
2024
62/185
2025
Average annual personal income after taxes
$36,621
2026
$11,034
2026
Market capitalization of domestic companies n/a
$487B
2025
Number of billionaires n/a
19
2026
Income share by richest 10% n/a
30.9%
2021
Income share by poorest 10% n/a
2.3%
2021
Government expenditure, % of GDP
21.5%
2025
23.4%
2025
Consumer prices inflation
0.41%
2023-2024
1.38%
2024-2025
Central bank interest rate
4%
2016
2.75%
2025
Unemployment rate
10.3%
2023
3.9%
2022
Population
405486
36600906

Spending and national debt comparison by year

Bahamas
Spending

Debt
Malaysia
Spending

Debt
1x
Year % of GDP
Bahamas Malaysia
Government spending Government debt Government spending Government debt
2025 21.5% 73.8% 23.4% 70.7%
2024 21% 73.8% 24% 69.8%
2023 23.2% 78.3% 25% 69.7%
2022 25.6% 84.7% 24.6% 65.5%
2021 28.9% 90.7% 24.5% 69.2%
2020 24.8% 71.9% 25% 67.7%
2019 20.3% 60.3% 23.6% 57.1%
2018 19.4% 61.5% 22.8% 55.6%
2017 23.1% 54.6% 22% 54.4%
2016 19.4% 51.1% 22.9% 55.8%
2015 18.4% 49.9% 24.7% 57%
2014 18.1% 47.7% 26% 55.4%
2013 18.1% 44.2% 27.8% 55.7%
2012 17% 37.6% 28.5% 53.8%
2011 17.1% 35.3% 27.1% 51.9%
2010 15.4% 33.9% 26.6% 51.2%
2009 15.2% 30.1% 30.9% 50.4%
2008 14.3% 25.3% 26.9% 39.4%
2007 13.6% 23.5% 25.9% 39.3%
2006 13.2% 23.2% 25.6% 39.7%
2005 12.9% 23% 24.5% 40.8%
2004 12.5% 21.6% 25.9% 42%
2003 11.8% 20.8% 28.1% 41.4%
2002 11.6% 19.4% 27.1% 39.5%
2001 11.4% 18.5% 28.2% 38.1%
2000 11.6% 19.2% 25.6% 32.5%
1999 9.3% 19.8% 24.6% 34.4%
1998 12% 20.8% 23.1% 33.6%
1997 12.9% 21.5% 21.2% 29.6%
1996 11.5% 20.7% 22.4% 32.8%
1995 11.5% 21% 22.6% 38.2%
1994 11.7% 20.9% 23.3% 43.7%
1993 11.5% 19.7% 24.6% 51.1%
1992 11.8% 17.9% 28.2% 59.1%
1991 11.9% 15.3% 27.4% 67.3%
1990 11.4% 13.2% 30.5% 74.1%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

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

In 2025, the Bahamas' government spending was $3.32B, accounting for 21.5% of its GDP, while Malaysia spent $111B, or 23.4% of GDP.

Debt-to-GDP ratio is 73.8% in the Bahamas and 70.7% in Malaysia, ranking 52/185 and 56/185, respectively.

Government deficit by year

Deficit/surplus
Bahamas

Malaysia
1x
Year Deficit/surplus, % of GDP
Bahamas Malaysia
2025 -0.49% -3.54%
2024 -1.2% -3.45%
2023 -3.65% -4.11%
2022 -5.53% -4.56%
2021 -11.9% -6.03%
2020 -7.11% -4.9%
2019 -1.68% -2.01%
2018 -3.28% -2.64%
2017 -6.05% -2.41%
2016 -2.61% -2.6%
2015 -3.34% -2.55%
2014 -4.51% -2.63%
2013 -5.1% -3.48%
2012 -3.25% -3.1%
2011 -2.87% -3.57%
2010 -2.57% -4.32%
2009 -2.39% -5.88%
2008 -0.82% -3.4%
2007 -0.77% -2.57%
2006 -0.44% -2.6%
2005 -1.16% -2.83%
2004 -1.95% -3.35%
2003 -1.63% -4.6%
2002 -1.67% -3.96%
2001 0.3% -4.36%
2000 0.09% -6.05%
1999 1.78% -3%
1998 -0.43% -0.63%
1997 -1.6% 4.84%
1996 -0.15% 3.27%
1995 0.18% 3.1%
1994 -0.4% 5.45%
1993 -1.05% 3.44%
1992 -2.23% 1.81%
1991 -2.27% 1.6%
1990 -2.64% 0.15%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

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

In 2024, the Bahamas' government deficit, the difference between spending and revenue, was $190M, equivalent to 1.2% of GDP. This compares to Malaysia's deficit of $14.6B, or 3.45% of GDP.

Over the past 35 years, the Bahamas recorded a fiscal deficit in 31 of those years, while Malaysia ran a deficit in 27 years. On average, the Bahamas posted an annual deficit equal to 2.4% of GDP, compared to deficit of 2.06% of GDP for Malaysia.

Inflation comparison by year

Inflation
Bahamas

Malaysia
1x
Year Consumer prices inflation
Bahamas Malaysia
2025 - 1.38%
2024 0.41% 1.83%
2023 3.05% 2.49%
2022 5.61% 3.38%
2021 2.9% 2.48%
2020 0.04% -1.14%
2019 2.49% 0.66%
2018 2.27% 0.88%
2017 1.52% 3.87%
2016 -0.35% 2.09%
2015 1.86% 2.1%
2014 1.51% 3.14%
2013 0.72% 2.11%
2012 1.97% 1.66%
2011 3.2% 3.17%
2010 1.34% 1.62%
2009 2.06% 0.58%
2008 4.49% 5.44%
2007 2.49% 2.03%
2006 2.39% 3.61%
2005 1.59% 2.98%
2004 0.98% 1.42%
2003 3.03% 1.09%
2002 2.17% 1.81%
2001 2.04% 1.42%
2000 1.61% 1.53%
1999 1.25% 2.74%
1998 1.34% 5.27%
1997 0.54% 2.66%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 28 years, the Bahamas has recorded an average annual inflation rate of 1.95%, compared with 2.25% in Malaysia. In 2024, inflation was 0.41% in the Bahamas and 1.38% in Malaysia.

Top exports between countries

Bahamas
Export category Export value
Processed food, beverages & tobacco $29K
Malaysia
Export category Export value
Processed food, beverages & tobacco $435K
Miscellaneous $371K
Textiles & consumer goods $308K
Chemicals & pharma $264K
Machinery & equipment $196K
Raw agricultural goods $32K
Metals $28K
Wood & paper products $24K
Raw materials & minerals $14K
Animal & marine products $8K

Balance of trade

Bahamas Malaysia
Current account balance
-$1.05B
2024
$7.15B
2024
Current account balance ranking
120/190
2024
29/190
2024
Current account balance, % of GDP
-6.65%
2024
+1.69%
2024
Goods imports
$4.6B
2024
$223B
2024
Goods exports
$874M
2024
$248B
2024
Service imports
$2.47B
2024
$56.4B
2024
Service exports
$5.9B
2024
$53.4B
2024
Imports of goods and services, % of GDP
41.5%
2024
65.4%
2025
Exports of goods and services, % of GDP
37.8%
2024
71%
2025

Economic freedom indices

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

Bahamas Malaysia
Economic freedom 65.1 68
Economic freedom ranking 66/197 51/197
Property rights 62.7 62.7
Government integrity 67.1 52.9
Judicial effectiveness 79.8 63.4
Tax burden 96.1 83.5
Government spending 83.8 82
Fiscal health 9.1 62.5
Business freedom 69.4 79.6
Labor freedom 66.5 55.4
Monetary freedom 77.2 80.8
Trade freedom 59.4 83
Investment freedom 50 60
Financial freedom 60 50

Economic freedom comparison by year

Bahamas
Malaysia
1x
Year Economic freedom index
Bahamas Malaysia
2026 65.1 68
2025 63.2 67.1
2024 62.5 65.7
2023 62.6 67.3
2022 68.7 68.1
2021 64.6 74.4
2020 64.5 74.7
2019 62.9 74
2018 63.3 74.5
2017 61.1 73.8
2016 70.9 71.5
2015 68.7 70.8
2014 69.8 69.6
2013 70.1 66.1
2012 68 66.4
2011 68 66.3
2010 67.3 64.8
2009 70.3 64.6
2008 71.1 63.9
2007 72 63.8
2006 72.3 61.6
2005 72.6 61.9
2004 72.1 59.9
2003 73.5 61.1
2002 74.4 60.1
2001 74.8 60.2
2000 73.9 66
1999 74.7 68.9
1998 74.5 68.2
1997 74.5 66.8
1996 74 69.9
1995 71.8 71.9

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for the Bahamas is 65.1, ranking 66/197, compared to 68 for Malaysia, ranking 51/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahamas Malaysia
Services, % of GDP
77.2%
2024
54.8%
2025
Industry, % of GDP
9.63%
2024
35.7%
2025
Agriculture, forestry, and fishing, % of GDP
0.51%
2024
8.22%
2025
GNI, Atlas method
$14.9B
2024
$445B
2025
GNI per capita, PPP
$39,610
2024
$40,070
2025
Total reserves including gold
$2.63B
2024
$126B
2025
Total reserves ranking
123/177
2024
25/177
2025
Net foreign direct investment
-$77.6M
2024
-$2.55B
2024
Net inflows of foreign direct investment
$241M
2024
$15.6B
2024
Net outflows of foreign direct investment
$163M
2024
$13B
2024
Poverty at national poverty lines
9.3%
2020
5.1%
2023
Gross capital formation, % of GDP
26.8%
2024
20.5%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2023–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)
  8. Central Intelligence Agency (CIA) (2020, retrieved 2026-07-08)

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.