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Economy of Bahamas vs North Macedonia compared: GDP & Debt

Updated on by Georank

The Bahamas has a GDP of $15.8B compared to $19.1B for North Macedonia, ranking 145/197 and 137/197 by economy size, respectively.

The Bahamas has $11.7B in government debt (73.8% of GDP), compared to $10B (52.5% of GDP) in North Macedonia.

Bahamas vs North Macedonia GDP by year

Bahamas
North Macedonia
1x
Year GDP, current $
Bahamas North Macedonia
2025 - $19,101,199,817
2024 $15,832,800,000 $16,951,682,221
2023 $15,271,300,000 $15,855,131,189
2022 $13,896,800,000 $13,932,436,550
2021 $12,037,000,000 $14,000,283,827
2020 $10,363,200,000 $12,361,036,914
2019 $13,277,000,000 $12,606,338,449
2018 $12,819,200,000 $12,683,068,114
2017 $12,446,900,000 $11,307,067,070
2016 $11,880,900,000 $10,672,467,073
2015 $11,837,600,000 $10,064,519,963
2014 $11,139,100,000 $11,362,265,253
2013 $10,475,300,000 $10,817,702,346
2012 $10,720,400,000 $9,745,261,301
2011 $10,070,450,000 $10,494,626,768
2010 $10,095,760,000 $9,407,170,321
2009 $9,981,960,000 $9,401,736,825
2008 $10,526,000,000 $9,909,552,435
2007 $10,618,340,000 $8,336,474,974
2006 $10,167,250,000 $6,861,226,972
2005 $9,836,200,000 $6,258,602,873
2004 $9,055,290,000 $5,682,784,472
2003 $8,870,090,000 $4,946,296,599
2002 $8,881,160,000 $4,018,365,747
2001 $8,317,830,000 $3,709,636,031
2000 $8,076,470,000 $3,772,859,034
1999 $7,683,870,000 $3,863,619,285
1998 $6,833,220,000 $3,765,745,023
1997 $6,332,360,000 $3,912,986,091
1996 $3,609,000,000 $4,642,021,256
1995 $3,429,000,000 $4,707,041,315
1994 $3,259,000,000 $3,559,608,640
1993 $3,092,000,000 $2,682,456,897
1992 $3,109,000,000 $2,436,849,342
1991 $3,111,160,000 $4,938,775,510
1990 $3,166,000,000 $4,699,646,643
1989 $3,062,000,000 -
1988 $2,817,900,000 -
1987 $2,713,999,900 -
1986 $2,472,500,000 -
1985 $2,320,699,900 -
1984 $2,041,100,000 -
1983 $1,732,800,000 -
1982 $1,578,300,000 -
1981 $1,426,500,000 -
1980 $1,335,300,000 -
1979 $1,139,800,100 -
1978 $832,400,000 -
1977 $713,000,000 -
1976 $642,100,000 -
1975 $596,200,000 -
1974 $632,400,000 -
1973 $670,900,000 -
1972 $590,900,000 -
1971 $573,400,000 -
1970 $539,500,000 -
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 (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/bahamas/north-macedonia | CC BY

GDP per capita in Bahamas vs North Macedonia by year

Bahamas
GDP per capita

GDP per capita, PPP
North Macedonia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahamas North Macedonia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 - - $10,490 -
2024 $39,455 $41,198 $9,292 $26,995
2023 $38,232 $39,090 $8,674 $25,354
2022 $34,957 $36,791 $7,606 $24,212
2021 $30,368 $31,065 $7,621 $22,144
2020 $26,179 $27,205 $6,660 $19,962
2019 $33,640 $36,116 $6,719 $20,223
2018 $32,642 $35,228 $6,714 $18,460
2017 $31,875 $34,282 $5,955 $17,161
2016 $30,617 $32,285 $5,598 $16,458
2015 $30,719 $32,138 $5,263 $15,034
2014 $29,137 $31,726 $5,925 $14,485
2013 $27,643 $30,294 $5,626 $13,663
2012 $28,552 $31,036 $5,050 $12,726
2011 $27,091 $30,074 $5,417 $12,421
2010 $27,473 $29,625 $4,833 $11,992
2009 $27,513 $29,197 $4,800 $11,532
2008 $29,392 $30,679 $5,026 $10,924
2007 $30,052 $31,232 $4,204 $9,639
2006 $29,185 $30,402 $3,440 $8,888
2005 $28,602 $29,143 $3,121 $7,972
2004 $26,650 $27,660 $2,819 $7,229
2003 $26,429 $27,031 $2,445 $6,608
2002 $26,782 $27,171 $1,989 $6,395
2001 $25,372 $26,351 $1,823 $6,051
2000 $24,940 $25,422 $1,862 $6,154
1999 $24,041 $24,184 $1,915 $5,724
1998 $21,667 $22,556 $1,876 $5,448
1997 $20,368 $21,606 $1,960 $5,227
1996 $11,784 $21,287 $2,307 $5,026
1995 $11,375 $20,377 $2,355 $4,912
1994 $10,991 $19,441 $1,786 $4,880
1993 $10,613 $18,781 $1,337 $4,829
1992 $10,873 $18,636 $1,199 $5,033
1991 $11,082 $19,296 $2,402 $5,207
1990 $11,473 $19,817 $2,277 $5,348
1989 $11,291 - - -
1988 $10,576 - - -
1987 $10,361 - - -
1986 $9,601 - - -
1985 $9,167 - - -
1984 $8,202 - - -
1983 $7,081 - - -
1982 $6,559 - - -
1981 $6,029 - - -
1980 $5,743 - - -
1979 $4,994 - - -
1978 $3,720 - - -
1977 $3,253 - - -
1976 $2,993 - - -
1975 $2,841 - - -
1974 $3,080 - - -
1973 $3,341 - - -
1972 $3,014 - - -
1971 $3,004 - - -
1970 $2,916 - - -
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 (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/bahamas/north-macedonia | CC BY

The Bahamas' GDP per capita is $39,455, ranking 30/197, compared to $10,490 in North Macedonia, ranking 86/197. Adjusted for purchasing power (GDP per capita PPP), the Bahamas ranks 57th at $41,198, while North Macedonia ranks 78th at $26,995.

Economic indicators

Bahamas North Macedonia
Gross domestic product
$15.8B
2024
$19.1B
2025
GDP rank
145/197
2024
137/197
2025
GDP growth
3.38%
2023-2024
3.49%
2024-2025
GDP per capita
$39,455
2024
$10,490
2025
GDP per capita rank
30/197
2024
86/197
2025
GDP per capita, PPP
$41,198
2024
$26,995
2024
GDP per capita PPP rank
57/197
2024
78/197
2024
Government debt
$11.7B
2024
$10B
2025
Debt-to-GDP ratio
73.8%
2025
52.5%
2025
Government debt per person
$29,123
2024
$5,510
2025
Government debt per person rank
25/185
2024
78/185
2025
Average annual personal income after taxes
$36,621
2026
$9,326
2026
Income share by richest 10% n/a
22.9%
2019
Income share by poorest 10% n/a
1.9%
2019
Government expenditure, % of GDP
21.5%
2025
36.2%
2025
Consumer prices inflation
0.41%
2023-2024
4.1%
2024-2025
Central bank interest rate
4%
2016
5.35%
2025
Unemployment rate
10.3%
2023
11.5%
2025
Population
405486
1811466

Spending and national debt comparison by year

Bahamas
Spending

Debt
North Macedonia
Spending

Debt
1x
Year % of GDP
Bahamas North Macedonia
Government spending Government debt Government spending Government debt
2025 21.5% 73.8% 36.2% 52.5%
2024 21% 73.8% 36.1% 52.9%
2023 23.2% 78.3% 35.3% 50.5%
2022 25.6% 84.7% 35% 50.4%
2021 28.9% 90.7% 35.3% 52.7%
2020 24.8% 71.9% 36.4% 50.8%
2019 20.3% 60.3% 31.4% 40.4%
2018 19.4% 61.5% 30.3% 40.4%
2017 23.1% 54.6% 31.8% 39.4%
2016 19.4% 51.1% 31.1% 39.7%
2015 18.4% 49.9% 32.2% 38%
2014 18.1% 47.7% 31.7% 38%
2013 18.1% 44.2% 31.7% 34%
2012 17% 37.6% 33.3% 33.7%
2011 17.1% 35.3% 31.9% 27.7%
2010 15.4% 33.9% 32.5% 24.3%
2009 15.2% 30.1% 33.6% 23.7%
2008 14.3% 25.3% 33.8% 20.6%
2007 13.6% 23.5% 31.4% 23.5%
2006 13.2% 23.2% 31.5% 30.6%
2005 12.9% 23% 32.5% 36.7%
2004 12.5% 21.6% 34.1% 34.6%
2003 11.8% 20.8% 36% 36.5%
2002 11.6% 19.4% 38.2% 40.5%
2001 11.4% 18.5% 37.4% 45.2%
2000 11.6% 19.2% 32% 45.6%
1999 9.3% 19.8% 32.5% 29.8%
1998 12% 20.8% 32.2% 33.1%
1997 12.9% 21.5% 32.3% 29.3%
1996 11.5% 20.7% - -
1995 11.5% 21% - -
1994 11.7% 20.9% - -
1993 11.5% 19.7% - -
1992 11.8% 17.9% - -
1991 11.9% 15.3% - -
1990 11.4% 13.2% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1997–1998, retrieved 2026-07-08).

GeoRank.org/economy/bahamas/north-macedonia | CC BY

In 2025, the Bahamas' government spending was $3.32B, accounting for 21.5% of its GDP, while North Macedonia spent $6.91B, or 36.2% of GDP.

Debt-to-GDP ratio is 73.8% in the Bahamas and 52.5% in North Macedonia, ranking 52/185 and 97/185, respectively.

Government deficit by year

Deficit/surplus
Bahamas

North Macedonia
1x
Year Deficit/surplus, % of GDP
Bahamas North Macedonia
2025 -0.49% -4.01%
2024 -1.2% -4.38%
2023 -3.65% -4.59%
2022 -5.53% -5.23%
2021 -11.9% -5.32%
2020 -7.11% -8.05%
2019 -1.68% -1.97%
2018 -3.28% -1.76%
2017 -6.05% -2.73%
2016 -2.61% -2.7%
2015 -3.34% -3.48%
2014 -4.51% -4.19%
2013 -5.1% -3.84%
2012 -3.25% -3.81%
2011 -2.87% -2.47%
2010 -2.57% -2.41%
2009 -2.39% -2.63%
2008 -0.82% -0.93%
2007 -0.77% 0.58%
2006 -0.44% -0.51%
2005 -1.16% 0.21%
2004 -1.95% 0.37%
2003 -1.63% -0.07%
2002 -1.67% -5.24%
2001 0.3% -5.88%
2000 0.09% 2.37%
1999 1.78% 0.03%
1998 -0.43% -1.59%
1997 -1.6% -0.35%
1996 -0.15% -
1995 0.18% -
1994 -0.4% -
1993 -1.05% -
1992 -2.23% -
1991 -2.27% -
1990 -2.64% -

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

GeoRank.org/economy/bahamas/north-macedonia | 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 North Macedonia's deficit of $742M, or 4.38% of GDP.

Over the past 28 years, the Bahamas recorded a fiscal deficit in 25 of those years, while North Macedonia ran a deficit in 23 years. On average, the Bahamas posted an annual deficit equal to 2.69% of GDP, compared to deficit of 2.52% of GDP for North Macedonia.

Inflation comparison by year

Inflation
Bahamas

North Macedonia
1x
Year Consumer prices inflation
Bahamas North Macedonia
2025 - 4.1%
2024 0.41% 3.5%
2023 3.05% 9.4%
2022 5.61% 14.2%
2021 2.9% 3.2%
2020 0.04% 1.2%
2019 2.49% 0.8%
2018 2.27% 1.5%
2017 1.52% 1.4%
2016 -0.35% -0.2%
2015 1.86% -0.2%
2014 1.51% -0.3%
2013 0.72% 2.8%
2012 1.97% 3.3%
2011 3.2% 3.9%
2010 1.34% 1.5%
2009 2.06% -0.8%
2008 4.49% 7.2%
2007 2.49% 2.8%
2006 2.39% 3.3%
2005 1.59% 0%
2004 0.98% -0.4%
2003 3.03% 1.1%
2002 2.17% 1.7%
2001 2.04% 5.1%
2000 1.61% 6.6%
1999 1.25% -1.3%
1998 1.34% 0.5%
1997 0.54% 1.3%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2024, retrieved 2026-07-08).

GeoRank.org/economy/bahamas/north-macedonia | CC BY

Over the past 28 years, the Bahamas has recorded an average annual inflation rate of 1.95%, compared with 2.61% in North Macedonia. In 2024, inflation was 0.41% in the Bahamas and 4.1% in North Macedonia.

Balance of trade

Bahamas North Macedonia
Current account balance
-$1.05B
2024
-$815M
2025
Current account balance ranking
120/190
2024
112/190
2025
Current account balance, % of GDP
-6.65%
2024
-4.27%
2025
Goods imports
$4.6B
2024
$11.7B
2025
Goods exports
$874M
2024
$7.87B
2025
Service imports
$2.47B
2024
$2.4B
2025
Service exports
$5.9B
2024
$3.55B
2025
Imports of goods and services, % of GDP
41.5%
2024
73.4%
2025
Exports of goods and services, % of GDP
37.8%
2024
59.6%
2025

Economic freedom indices

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

Bahamas North Macedonia
Economic freedom 65.1 63.3
Economic freedom ranking 66/197 81/197
Property rights 62.7 56.2
Government integrity 67.1 43.2
Judicial effectiveness 79.8 49.5
Tax burden 96.1 94.9
Government spending 83.8 61.7
Fiscal health 9.1 57.7
Business freedom 69.4 72.2
Labor freedom 66.5 51.4
Monetary freedom 77.2 69.6
Trade freedom 59.4 77.8
Investment freedom 50 65
Financial freedom 60 60

Economic freedom comparison by year

Bahamas
North Macedonia
1x
Year Economic freedom index
Bahamas North Macedonia
2026 65.1 63.3
2025 63.2 63.2
2024 62.5 61.4
2023 62.6 63.7
2022 68.7 65.7
2021 64.6 68.6
2020 64.5 69.5
2019 62.9 71.1
2018 63.3 71.3
2017 61.1 70.7
2016 70.9 67.5
2015 68.7 67.1
2014 69.8 68.6
2013 70.1 68.2
2012 68 68.5
2011 68 66
2010 67.3 65.7
2009 70.3 61.2
2008 71.1 61.1
2007 72 60.6
2006 72.3 59.2
2005 72.6 56.1
2004 72.1 56.8
2003 73.5 60.1
2002 74.4 58
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 2026-07-08).

GeoRank.org/economy/bahamas/north-macedonia | CC BY

The Economic Freedom Index for the Bahamas is 65.1, ranking 66/197, compared to 63.3 for North Macedonia, ranking 81/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahamas North Macedonia
Services, % of GDP
77.2%
2024
57%
2025
Industry, % of GDP
9.63%
2024
24.1%
2025
Agriculture, forestry, and fishing, % of GDP
0.51%
2024
5.98%
2025
GNI, Atlas method
$14.9B
2024
$17.3B
2025
GNI per capita, PPP
$39,610
2024
$26,680
2025
Total reserves including gold
$2.63B
2024
$5.8B
2025
Total reserves ranking
123/177
2024
98/177
2025
Net foreign direct investment
-$77.6M
2024
-$276M
2025
Net inflows of foreign direct investment
$241M
2024
$1.06B
2024
Net outflows of foreign direct investment
$163M
2024
-$64.9M
2024
Servicing debt to the IMF, % of GNI n/a
9.59%
2024
Poverty at national poverty lines
9.3%
2020
21.9%
2023
Gross capital formation, % of GDP
26.8%
2024
31.7%
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/north-macedonia | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1997–1998, 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.

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.