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Economy of Bahamas vs Maldives compared: GDP & Debt

Updated on by Georank team

The Bahamas has a GDP of $15.8B compared to $7.06B for Maldives, ranking 140/197 and 159/197 by economy size, respectively.

The Bahamas has $11.5B in government debt (72.5% of GDP), compared to $9.41B (133.3% of GDP) in Maldives.

Bahamas vs Maldives GDP by year

Bahamas
Maldives
1x
Year GDP, current $
Bahamas Maldives
2024 $15,832,800,000 $7,061,608,267
2023 $15,271,300,000 $6,621,008,704
2022 $13,896,800,000 $6,177,123,352
2021 $12,037,000,000 $5,252,457,370
2020 $10,363,200,000 $3,712,604,583
2019 $13,277,000,000 $5,726,094,799
2018 $12,819,200,000 $5,404,344,163
2017 $12,446,900,000 $4,816,426,257
2016 $11,880,900,000 $4,409,942,624
2015 $11,837,600,000 $4,129,505,319
2014 $11,139,100,000 $3,697,353,039
2013 $10,475,300,000 $3,295,009,238
2012 $10,720,400,000 $2,886,163,997
2011 $10,070,450,000 $2,774,350,240
2010 $10,095,760,000 $2,588,176,055
2009 $9,981,960,000 $2,345,294,875
2008 $10,526,000,000 $2,271,646,188
2007 $10,618,340,000 $1,868,383,461
2006 $10,167,250,000 $1,575,200,391
2005 $9,836,200,000 $1,163,362,438
2004 $9,055,290,000 $1,226,829,563
2003 $8,870,090,000 $1,052,121,055
2002 $8,881,160,000 $897,031,250
2001 $8,317,830,000 $870,031,677
2000 $8,076,470,000 $624,337,145
1999 $7,683,870,000 $589,239,754
1998 $6,833,220,000 $540,096,398
1997 $6,332,360,000 $508,223,602
1996 $3,609,000,000 $450,382,328
1995 $3,429,000,000 $398,988,955
1994 $3,259,000,000 $356,014,932
1993 $3,092,000,000 $322,417,837
1992 $3,109,000,000 $284,875,809
1991 $3,111,160,000 $244,396,762
1990 $3,166,000,000 $215,043,970
1989 $3,062,000,000 $189,514,434
1988 $2,817,900,000 $168,514,513
1987 $2,713,999,900 $141,223,029
1986 $2,472,500,000 $141,882,254
1985 $2,320,699,900 $127,190,758
1984 $2,041,100,000 $109,503,546
1983 $1,732,800,000 $57,829,787
1982 $1,578,300,000 $47,911,340
1981 $1,426,500,000 $44,781,457
1980 $1,335,300,000 $42,463,576
1979 $1,139,800,100 $38,523,364
1978 $832,400,000 $24,369,109
1977 $713,000,000 $20,853,789
1976 $642,100,000 $22,399,467
1975 $596,200,000 $24,540,878
1974 $632,400,000 $39,120,171
1973 $670,900,000 $30,862,042
1972 $590,900,000 $25,177,138
1971 $573,400,000 $21,566,404
1970 $539,500,000 $19,328,038
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/maldives | CC BY

GDP per capita in Bahamas vs Maldives by year

Bahamas
GDP per capita

GDP per capita, PPP
Maldives
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahamas Maldives
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $39,455 $41,198 $13,379 $26,183
2023 $38,232 $39,090 $12,588 $24,786
2022 $34,957 $36,791 $11,786 $22,881
2021 $30,368 $31,065 $10,176 $19,053
2020 $26,179 $27,205 $7,394 $13,425
2019 $33,640 $36,116 $11,740 $23,077
2018 $32,642 $35,228 $11,423 $21,899
2017 $31,875 $34,282 $10,510 $19,768
2016 $30,617 $32,285 $9,948 $18,770
2015 $30,719 $32,138 $9,645 $17,875
2014 $29,137 $31,726 $8,939 $16,723
2013 $27,643 $30,294 $8,236 $15,264
2012 $28,552 $31,036 $7,461 $13,989
2011 $27,091 $30,074 $7,425 $13,726
2010 $27,473 $29,625 $7,174 $12,797
2009 $27,513 $29,197 $6,734 $12,266
2008 $29,392 $30,679 $6,757 $13,779
2007 $30,052 $31,232 $5,758 $12,852
2006 $29,185 $30,402 $5,019 $12,075
2005 $28,602 $29,143 $3,797 $9,704
2004 $26,650 $27,660 $4,070 $10,770
2003 $26,429 $27,031 $3,549 $10,065
2002 $26,782 $27,171 $3,076 $8,823
2001 $25,372 $26,351 $3,034 $8,236
2000 $24,940 $25,422 $2,214 $8,526
1999 $24,041 $24,184 $2,124 $8,162
1998 $21,667 $22,556 $1,980 $7,710
1997 $20,368 $21,606 $1,898 $7,226
1996 $11,784 $21,287 $1,717 $6,687
1995 $11,375 $20,377 $1,555 $6,223
1994 $10,991 $19,441 $1,419 $5,520
1993 $10,613 $18,781 $1,317 $5,138
1992 $10,873 $18,636 $1,194 $4,881
1991 $11,082 $19,296 $1,054 $4,604
1990 $11,473 $19,817 $957 $4,528
1989 $11,291 - $870 -
1988 $10,576 - $799 -
1987 $10,361 - $692 -
1986 $9,601 - $720 -
1985 $9,167 - $669 -
1984 $8,202 - $594 -
1983 $7,081 - $323 -
1982 $6,559 - $274.8 -
1981 $6,029 - $264.1 -
1980 $5,743 - $257.6 -
1979 $4,994 - $240.2 -
1978 $3,720 - $156.1 -
1977 $3,253 - $137.3 -
1976 $2,993 - $151.8 -
1975 $2,841 - $171.4 -
1974 $3,080 - $281.5 -
1973 $3,341 - $228.7 -
1972 $3,014 - $192.2 -
1971 $3,004 - $169.8 -
1970 $2,916 - $156.9 -
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/maldives | CC BY

The Bahamas' GDP per capita is $39,455, ranking 30/197, compared to $13,379 in Maldives, ranking 75/197. Adjusted for purchasing power (GDP per capita PPP), the Bahamas ranks 57th at $41,198, while Maldives ranks 81st at $26,183.

Economic indicators

Bahamas Maldives
Gross domestic product
$15.8B
2024
$7.06B
2024
GDP rank
140/197
2024
159/197
2024
GDP growth
3.38%
2023-2024
3.49%
2023-2024
GDP per capita
$39,455
2024
$13,379
2024
GDP per capita rank
30/197
2024
75/197
2024
GDP per capita, PPP
$41,198
2024
$26,183
2024
GDP per capita PPP rank
57/197
2024
81/197
2024
Government debt
$11.5B
2024
$9.41B
2024
Debt-to-GDP ratio
72.5%
2024
133.3%
2024
Government debt per person
$28,616
2024
$17,837
2024
Government debt per person rank
25/185
2024
35/185
2024
Average annual personal income after taxes
$29,535
2026
$9,909
2026
Income share by richest 10% n/a
23.3%
2019
Income share by poorest 10% n/a
3.8%
2019
Government expenditure, % of GDP
20.6%
2024
46.1%
2024
Consumer prices inflation
0.41%
2023-2024
1.4%
2023-2024
Central bank interest rate
4%
2016
n/a
Unemployment rate
8.65%
2023
4.56%
2019
Population
405203
532057

Spending and national debt comparison by year

Bahamas
Spending

Debt
Maldives
Spending

Debt
1x
Year % of GDP
Bahamas Maldives
Government spending Government debt Government spending Government debt
2024 20.6% 72.5% 46.1% 133.3%
2023 22.2% 74.8% 46.7% 122.4%
2022 23.9% 79.1% 42% 111.6%
2021 26.9% 84.5% 40.6% 123.4%
2020 28.2% 81.9% 50.4% 155.7%
2019 19.9% 59.3% 32.9% 77.2%
2018 19.2% 60.6% 31.9% 70.7%
2017 22.5% 53.4% 30.4% 63.8%
2016 19.4% 51% 37.3% 61.9%
2015 17.9% 48.5% 33.8% 54.8%
2014 17.6% 46.3% 29.1% 55.1%
2013 18.4% 44.8% 27% 55.9%
2012 16.5% 36.4% 29.8% 57.1%
2011 17.1% 35.3% 31.3% 51.9%
2010 15.3% 33.7% 33.2% 52.7%
2009 15.6% 30.9% 37% 48.4%
2008 14.4% 25.5% 35.6% 39%
2007 13.3% 23% 34.8% 35.8%
2006 13% 22.8% 35% 36.8%
2005 12.3% 22% 38.8% 43.2%
2004 12.4% 21.4% 24.1% 34.7%
2003 11.8% 20.9% 26.4% 37.6%
2002 11.3% 18.8% 29.6% 44.3%
2001 11.2% 18.2% 29.6% 41.8%
2000 11.3% 18.7% 29% 39%
1999 8.78% 18.7% 28% 38.9%
1998 11.6% 20% 25.9% 39.3%
1997 12.5% 20.8% 25.2% 38.1%
1996 11.2% 20.2% 27.3% 46.9%
1995 11.2% 20.5% 31.3% 52.2%
1994 11.4% 20.4% 30.7% 54.6%
1993 11.5% 19.8% 34.7% 55.7%
1992 11.8% 17.9% 36.1% 49%
1991 12% 15.4% 37.7% 46.7%
1990 11.4% 13.2% 33.3% 42.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1990–1996, retrieved 2026-02-20).

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

In 2024, the Bahamas' government spending was $3.26B, accounting for 20.6% of its GDP, while Maldives spent $3.25B, or 46.1% of GDP.

Debt-to-GDP ratio is 72.5% in the Bahamas and 133.3% in Maldives, ranking 53/185 and 10/185, respectively.

Government deficit by year

Deficit/surplus
Bahamas

Maldives
1x
Year Deficit/surplus, % of GDP
Bahamas Maldives
2024 -1.18% -13.9%
2023 -3.49% -13.2%
2022 -5.16% -11.2%
2021 -11.1% -14.2%
2020 -8.09% -23.7%
2019 -1.65% -6.54%
2018 -3.24% -5.17%
2017 -5.92% -3.02%
2016 -2.61% -9.93%
2015 -3.24% -6.52%
2014 -4.38% -2.42%
2013 -5.16% -3.49%
2012 -3.15% -6.91%
2011 -2.87% -8.13%
2010 -2.56% -13.6%
2009 -2.45% -17.9%
2008 -0.83% -9.92%
2007 -0.76% -3.16%
2006 -0.43% -4.52%
2005 -1.11% -7.81%
2004 -1.93% -2.26%
2003 -1.63% -3.45%
2002 -1.62% -3.97%
2001 0.3% -3.97%
2000 0.09% -3.89%
1999 1.68% -3.03%
1998 -0.41% -2.25%
1997 -1.56% -1.46%
1996 -0.15% -2.01%
1995 0.18% -5.66%
1994 -0.39% -4.82%
1993 -1.05% -13.9%
1992 -2.23% -12.6%
1991 -2.29% -10.2%
1990 -2.64% -12.8%

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

GeoRank.org/economy/bahamas/maldives | 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 Maldives' deficit of $982M, or 13.9% of GDP.

Over the past 35 years, the Bahamas recorded a fiscal deficit in 31 of those years, while Maldives ran a deficit in 35 years. On average, the Bahamas posted an annual deficit equal to 2.37% of GDP, compared to deficit of 7.75% of GDP for Maldives.

Inflation comparison by year

Inflation
Bahamas

Maldives
1x
Year Consumer prices inflation
Bahamas Maldives
2024 0.41% 1.4%
2023 3.05% 2.6%
2022 5.61% 2.6%
2021 2.9% 0.2%
2020 0.04% -1.6%
2019 2.49% 1.3%
2018 2.27% 1.4%
2017 1.52% 2.3%
2016 -0.35% 0.8%
2015 1.86% 1.4%
2014 1.51% 2.4%
2013 0.72% 4%
2012 1.97% 10.9%
2011 3.2% 11.3%
2010 1.34% 6.1%
2009 2.06% 4.5%
2008 4.49% 12%
2007 2.49% 6.8%
2006 2.39% 3.5%
2005 1.59% 2.5%
2004 0.98% 6.3%
2003 3.03% -2.8%
2002 2.17% 0.9%
2001 2.04% 0.7%
2000 1.61% -1.2%
1999 1.25% 3%
1998 1.34% -1.4%
1997 0.54% 7.6%

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/maldives | CC BY

Over the past 28 years, the Bahamas has recorded an average annual inflation rate of 1.95%, compared with 3.2% in Maldives. In 2024, inflation was 0.41% in the Bahamas and 1.4% in Maldives.

Balance of trade

Bahamas Maldives
Current account balance
-$1.05B
2024
-$1.32B
2024
Current account balance ranking
127/190
2024
130/190
2024
Current account balance, % of GDP
-6.65%
2024
-18.7%
2024
Goods imports
$4.6B
2024
$3.46B
2024
Goods exports
$874M
2024
$383M
2024
Service imports
$2.47B
2024
$1.89B
2024
Service exports
$5.9B
2024
$5.03B
2024
Imports of goods and services, % of GDP
41.5%
2024
78.3%
2024
Exports of goods and services, % of GDP
37.8%
2024
78.2%
2024

Economic freedom indices

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

Bahamas Maldives
Economic freedom 65.1 47.6
Economic freedom ranking 66/197 174/197
Property rights 62.7 52.2
Government integrity 67.1 41.9
Judicial effectiveness 79.8 39.3
Tax burden 96.1 89.9
Government spending 83.8 39.5
Fiscal health 9.1 0
Business freedom 69.4 49.7
Labor freedom 66.5 54.1
Monetary freedom 77.2 76.4
Trade freedom 59.4 62.8
Investment freedom 50 35
Financial freedom 60 30

Economic freedom comparison by year

Bahamas
Maldives
1x
Year Economic freedom index
Bahamas Maldives
2026 65.1 47.6
2025 63.2 48.3
2024 62.5 47.8
2023 62.6 46.6
2022 68.7 47.3
2021 64.6 55.2
2020 64.5 56.5
2019 62.9 53.2
2018 63.3 51.1
2017 61.1 50.3
2016 70.9 53.9
2015 68.7 53.4
2014 69.8 51
2013 70.1 49
2012 68 49.2
2011 68 48.3
2010 67.3 49
2009 70.3 51.3
2008 71.1 -
2007 72 -
2006 72.3 -
2005 72.6 -
2004 72.1 -
2003 73.5 -
2002 74.4 -
2001 74.8 -
2000 73.9 -
1999 74.7 -
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/maldives | CC BY

The Economic Freedom Index for the Bahamas is 65.1, ranking 66/197, compared to 47.6 for Maldives, ranking 174/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahamas Maldives
Services, % of GDP
77.2%
2024
72.1%
2024
Industry, % of GDP
9.63%
2024
9.2%
2024
Agriculture, forestry, and fishing, % of GDP
0.51%
2024
3.84%
2024
GNI, Atlas method
$14.9B
2024
$6.15B
2024
GNI per capita, PPP
$39,550
2024
$23,400
2024
Total reserves including gold
$2.51B
2023
$674M
2024
Total reserves ranking
122/177
2023
150/177
2024
Net foreign direct investment
-$77.6M
2024
-$806M
2024
Net inflows of foreign direct investment
$241M
2024
$806M
2024
Net outflows of foreign direct investment
$163M
2024
$0
2024
Servicing debt to the IMF, % of GNI n/a
7.95%
2024
Poverty at national poverty lines
9.3%
2020
15%
2020
Gross capital formation, % of GDP
26.8%
2024
30.8%
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/maldives | 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 (1990–1996, retrieved 2026-02-20)
  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.