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Economy of Bahamas vs Qatar compared: GDP & Debt

Updated on by Georank team

The Bahamas has a GDP of $15.8B compared to $219B for Qatar, ranking 140/197 and 56/197 by economy size, respectively.

The Bahamas has $11.5B in government debt (72.5% of GDP), compared to $90.2B (41.2% of GDP) in Qatar.

Bahamas vs Qatar GDP by year

Bahamas
Qatar
1x
Year GDP, current $
Bahamas Qatar
2024 $15,832,800,000 $219,162,637,363
2023 $15,271,300,000 $217,308,516,484
2022 $13,896,800,000 $235,709,340,659
2021 $12,037,000,000 $179,732,142,857
2020 $10,363,200,000 $144,411,538,462
2019 $13,277,000,000 $176,371,428,571
2018 $12,819,200,000 $183,335,164,835
2017 $12,446,900,000 $161,099,175,824
2016 $11,880,900,000 $151,732,142,857
2015 $11,837,600,000 $161,739,835,165
2014 $11,139,100,000 $206,224,725,275
2013 $10,475,300,000 $198,727,747,253
2012 $10,720,400,000 $186,833,516,484
2011 $10,070,450,000 $167,775,274,725
2010 $10,095,760,000 $123,627,197,802
2009 $9,981,960,000 $97,798,351,648
2008 $10,526,000,000 $115,270,054,945
2007 $10,618,340,000 $79,712,087,912
2006 $10,167,250,000 $60,882,142,857
2005 $9,836,200,000 $44,530,494,505
2004 $9,055,290,000 $31,734,065,934
2003 $8,870,090,000 $23,533,791,209
2002 $8,881,160,000 $19,363,736,264
2001 $8,317,830,000 $17,538,461,538
2000 $8,076,470,000 $17,759,890,110
1999 $7,683,870,000 $12,393,131,868
1998 $6,833,220,000 $10,255,495,027
1997 $6,332,360,000 $11,297,802,115
1996 $3,609,000,000 $9,059,340,385
1995 $3,429,000,000 $8,137,911,978
1994 $3,259,000,000 $7,374,450,769
1993 $3,092,000,000 $7,156,593,654
1992 $3,109,000,000 $7,646,153,984
1991 $3,111,160,000 $6,883,516,484
1990 $3,166,000,000 $7,360,439,423
1989 $3,062,000,000 $6,487,912,088
1988 $2,817,900,000 $6,038,187,033
1987 $2,713,999,900 $5,446,428,681
1986 $2,472,500,000 $5,053,021,951
1985 $2,320,699,900 $6,153,296,456
1984 $2,041,100,000 $6,704,395,824
1983 $1,732,800,000 $6,467,582,308
1982 $1,578,300,000 $7,596,703,214
1981 $1,426,500,000 $8,661,263,764
1980 $1,335,300,000 $7,829,165,262
1979 $1,139,800,100 $5,632,962,997
1978 $832,400,000 $4,052,000,413
1977 $713,000,000 $3,617,564,638
1976 $642,100,000 $3,284,273,987
1975 $596,200,000 $2,512,773,166
1974 $632,400,000 $2,401,403,227
1973 $670,900,000 $793,885,560
1972 $590,900,000 $510,262,500
1971 $573,400,000 $387,703,106
1970 $539,500,000 $301,791,302
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/qatar | CC BY

GDP per capita in Bahamas vs Qatar by year

Bahamas
GDP per capita

GDP per capita, PPP
Qatar
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahamas Qatar
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $39,455 $41,198 $76,689 $126,046
2023 $38,232 $39,090 $81,817 $129,368
2022 $34,957 $36,791 $88,701 $122,921
2021 $30,368 $31,065 $71,752 $116,833
2020 $26,179 $27,205 $51,684 $82,149
2019 $33,640 $36,116 $66,841 $107,503
2018 $32,642 $35,228 $71,040 $110,033
2017 $31,875 $34,282 $63,280 $99,358
2016 $30,617 $32,285 $61,254 $89,935
2015 $30,719 $32,138 $68,985 $102,546
2014 $29,137 $31,726 $95,841 $148,389
2013 $27,643 $30,294 $103,697 $169,203
2012 $28,552 $31,036 $108,470 $180,939
2011 $27,091 $30,074 $103,262 $174,620
2010 $27,473 $29,625 $76,463 $151,646
2009 $27,513 $29,197 $60,786 $125,898
2008 $29,392 $30,679 $80,781 $126,015
2007 $30,052 $31,232 $65,954 $124,056
2006 $29,185 $30,402 $62,582 $127,181
2005 $28,602 $29,143 $53,950 $115,250
2004 $26,650 $27,660 $41,036 $110,958
2003 $26,429 $27,031 $31,602 $94,120
2002 $26,782 $27,171 $27,227 $93,177
2001 $25,372 $26,351 $25,871 $89,805
2000 $24,940 $25,422 $27,535 $88,849
1999 $24,041 $24,184 $20,234 $84,690
1998 $21,667 $22,556 $17,665 $84,486
1997 $20,368 $21,606 $20,523 $79,219
1996 $11,784 $21,287 $17,125 $62,331
1995 $11,375 $20,377 $15,823 $60,321
1994 $10,991 $19,441 $14,765 $59,415
1993 $10,613 $18,781 $14,770 $59,125
1992 $10,873 $18,636 $16,280 $60,387
1991 $11,082 $19,296 $15,133 $54,759
1990 $11,473 $19,817 $16,722 $55,659
1989 $11,291 - $15,243 -
1988 $10,576 - $14,682 -
1987 $10,361 - $13,719 -
1986 $9,601 - $13,213 -
1985 $9,167 - $16,815 -
1984 $8,202 - $19,272 -
1983 $7,081 - $19,616 -
1982 $6,559 - $24,385 -
1981 $6,029 - $29,505 -
1980 $5,743 - $28,375 -
1979 $4,994 - $21,777 -
1978 $3,720 - $16,757 -
1977 $3,253 - $16,058 -
1976 $2,993 - $15,710 -
1975 $2,841 - $13,014 -
1974 $3,080 - $13,540 -
1973 $3,341 - $4,905 -
1972 $3,014 - $3,483 -
1971 $3,004 - $2,952 -
1970 $2,916 - $2,594 -
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/qatar | CC BY

The Bahamas' GDP per capita is $39,455, ranking 30/197, compared to $76,689 in Qatar, ranking 11/197. Adjusted for purchasing power (GDP per capita PPP), the Bahamas ranks 57th at $41,198, while Qatar ranks 5th at $126,046.

Economic indicators

Bahamas Qatar
Gross domestic product
$15.8B
2024
$219B
2024
GDP rank
140/197
2024
56/197
2024
GDP growth
3.38%
2023-2024
2.36%
2023-2024
GDP per capita
$39,455
2024
$76,689
2024
GDP per capita rank
30/197
2024
11/197
2024
GDP per capita, PPP
$41,198
2024
$126,046
2024
GDP per capita PPP rank
57/197
2024
5/197
2024
Government debt
$11.5B
2024
$90.2B
2024
Debt-to-GDP ratio
72.5%
2024
41.2%
2024
Government debt per person
$28,616
2024
$31,579
2024
Government debt per person rank
25/185
2024
23/185
2024
Average annual personal income after taxes
$29,535
2026
$35,660
2026
Market capitalization of domestic companies n/a
$170M
2024
Number of millionaires n/a
26,163
2025
Number of billionaires n/a
2
2025
Income share by richest 10% n/a
25.8%
2017
Income share by poorest 10% n/a
2.6%
2017
Government expenditure, % of GDP
20.6%
2024
26%
2024
Consumer prices inflation
0.41%
2023-2024
1.27%
2023-2024
Central bank interest rate
4%
2016
4.1%
2025
Unemployment rate
8.65%
2023
0.13%
2022
Population
405203
2999260

Spending and national debt comparison by year

Bahamas
Spending

Debt
Qatar
Spending

Debt
1x
Year % of GDP
Bahamas Qatar
Government spending Government debt Government spending Government debt
2024 20.6% 72.5% 26% 41.2%
2023 22.2% 74.8% 27.3% 43.7%
2022 23.9% 79.1% 24.3% 42.6%
2021 26.9% 84.5% 29.4% 58.4%
2020 28.2% 81.9% 34.7% 72.6%
2019 19.9% 59.3% 32.5% 62.1%
2018 19.2% 60.6% 28.9% 52.2%
2017 22.5% 53.4% 34.7% 51.6%
2016 19.4% 51% 40.1% 46.7%
2015 17.9% 48.5% 38.6% 35.5%
2014 17.6% 46.3% 32.3% 24.9%
2013 18.4% 44.8% 28.3% 30.9%
2012 16.5% 36.4% 31% 32.1%
2011 17.1% 35.3% 28.5% 33.5%
2010 15.3% 33.7% 32% 30.4%
2009 15.6% 30.9% 36.4% 36%
2008 14.4% 25.5% 23.5% 11.4%
2007 13.3% 23% 29.5% 9.37%
2006 13% 22.8% 29.5% 13.9%
2005 12.3% 22% 29% 19.1%
2004 12.4% 21.4% 29.9% 30.1%
2003 11.8% 20.9% 28.5% 38.8%
2002 11.3% 18.8% 31.6% 47.7%
2001 11.2% 18.2% 32.1% 59.2%
2000 11.3% 18.7% 29.8% 51.6%
1999 8.78% 18.7% 42.4% 81.8%
1998 11.6% 20% 55.1% 76.6%
1997 12.5% 20.8% 47.6% 54.4%
1996 11.2% 20.2% 55.2% 57.8%
1995 11.2% 20.5% 52.2% 50.2%
1994 11.4% 20.4% 59.8% 54.8%
1993 11.5% 19.8% 62.8% 46.3%
1992 11.8% 17.9% 54.2% 19.9%
1991 12% 15.4% 57.5% 21.8%
1990 11.4% 13.2% 50% 12.6%

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

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

In 2024, the Bahamas' government spending was $3.26B, accounting for 20.6% of its GDP, while Qatar spent $56.9B, or 26% of GDP.

Debt-to-GDP ratio is 72.5% in the Bahamas and 41.2% in Qatar, ranking 53/185 and 130/185, respectively.

Government deficit by year

Deficit/surplus
Bahamas

Qatar
1x
Year Deficit/surplus, % of GDP
Bahamas Qatar
2024 -1.18% 0.69%
2023 -3.49% 5.56%
2022 -5.16% 10.4%
2021 -11.1% 0.24%
2020 -8.09% -2.13%
2019 -1.65% 1%
2018 -3.24% 2.26%
2017 -5.92% -6.82%
2016 -2.61% -9.2%
2015 -3.24% 18.4%
2014 -4.38% 13.4%
2013 -5.16% 19.3%
2012 -3.15% 8.55%
2011 -2.87% 5.24%
2010 -2.56% 4.6%
2009 -2.45% 14.1%
2008 -0.83% 9.49%
2007 -0.76% 10.3%
2006 -0.43% 8.39%
2005 -1.11% 9.8%
2004 -1.93% 17.7%
2003 -1.63% 6.71%
2002 -1.62% 7.89%
2001 0.3% 4.48%
2000 0.09% 4.62%
1999 1.68% -4.35%
1998 -0.41% -7%
1997 -1.56% -9.4%
1996 -0.15% -8.73%
1995 0.18% -5.78%
1994 -0.39% -11.8%
1993 -1.05% -9.53%
1992 -2.23% -2.74%
1991 -2.29% -2.57%
1990 -2.64% 3.23%

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

GeoRank.org/economy/bahamas/qatar | 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 Qatar's surplus of $1.52B, or 0.69% of GDP.

Over the past 35 years, the Bahamas recorded a fiscal deficit in 31 of those years, while Qatar ran a deficit in 12 years. On average, the Bahamas posted an annual deficit equal to 2.37% of GDP, compared to surplus of 3.04% of GDP for Qatar.

Inflation comparison by year

Inflation
Bahamas

Qatar
1x
Year Consumer prices inflation
Bahamas Qatar
2024 0.41% 1.27%
2023 3.05% 3.03%
2022 5.61% 5%
2021 2.9% 2.3%
2020 0.04% -2.54%
2019 2.49% -0.67%
2018 2.27% 0.26%
2017 1.52% 0.39%
2016 -0.35% 2.68%
2015 1.86% 1.81%
2014 1.51% 3.35%
2013 0.72% 3.22%
2012 1.97% 2.32%
2011 3.2% 1.14%
2010 1.34% -2.43%
2009 2.06% -4.86%
2008 4.49% 15.1%
2007 2.49% 13.8%
2006 2.39% 11.8%
2005 1.59% 8.81%
2004 0.98% 6.8%
2003 3.03% 2.26%
2002 2.17% 0.24%
2001 2.04% 1.47%
2000 1.61% 1.65%
1999 1.25% 2.18%
1998 1.34% 2.95%
1997 0.54% 4.83%

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

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

Over the past 28 years, the Bahamas has recorded an average annual inflation rate of 1.95%, compared with 3.15% in Qatar. In 2024, inflation was 0.41% in the Bahamas and 1.27% in Qatar.

Top exports between countries

Bahamas
Export category Export value
Animal & marine products $136K
Qatar
Export category Export value

Balance of trade

Bahamas Qatar
Current account balance
-$1.05B
2024
$37.9B
2024
Current account balance ranking
127/190
2024
16/190
2024
Current account balance, % of GDP
-6.65%
2024
+17.3%
2024
Goods imports
$4.6B
2024
$32.6B
2024
Goods exports
$874M
2024
$95B
2024
Service imports
$2.47B
2024
$37.1B
2024
Service exports
$5.9B
2024
$30.2B
2024
Imports of goods and services, % of GDP
41.5%
2024
31.6%
2022
Exports of goods and services, % of GDP
37.8%
2024
68.6%
2022

Economic freedom indices

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

Bahamas Qatar
Economic freedom 65.1 70.2
Economic freedom ranking 66/197 37/197
Property rights 62.7 66.2
Government integrity 67.1 53.5
Judicial effectiveness 79.8 41.5
Tax burden 96.1 99.9
Government spending 83.8 79.9
Fiscal health 9.1 96.6
Business freedom 69.4 68
Labor freedom 66.5 58.5
Monetary freedom 77.2 76
Trade freedom 59.4 81.8
Investment freedom 50 60
Financial freedom 60 60

Economic freedom comparison by year

Bahamas
Qatar
1x
Year Economic freedom index
Bahamas Qatar
2026 65.1 70.2
2025 63.2 70.2
2024 62.5 68.8
2023 62.6 68.6
2022 68.7 67.7
2021 64.6 72
2020 64.5 72.3
2019 62.9 72.6
2018 63.3 72.6
2017 61.1 73.1
2016 70.9 70.7
2015 68.7 70.8
2014 69.8 71.2
2013 70.1 71.3
2012 68 71.3
2011 68 70.5
2010 67.3 69
2009 70.3 65.8
2008 71.1 62.2
2007 72 62.9
2006 72.3 62.4
2005 72.6 63.5
2004 72.1 66.5
2003 73.5 65.9
2002 74.4 61.9
2001 74.8 60
2000 73.9 62
1999 74.7 62
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/qatar | CC BY

The Economic Freedom Index for the Bahamas is 65.1, ranking 66/197, compared to 70.2 for Qatar, ranking 37/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahamas Qatar
Services, % of GDP
77.2%
2024
46.1%
2024
Industry, % of GDP
9.63%
2024
58.2%
2024
Agriculture, forestry, and fishing, % of GDP
0.51%
2024
0.29%
2024
GNI, Atlas method
$14.9B
2024
$221B
2024
GNI per capita, PPP
$39,550
2024
$121,900
2024
Total reserves including gold
$2.51B
2023
$54B
2024
Total reserves ranking
122/177
2023
40/177
2024
Net foreign direct investment
-$77.6M
2024
$1.1B
2024
Net inflows of foreign direct investment
$241M
2024
$460M
2024
Net outflows of foreign direct investment
$163M
2024
$1.56B
2024
Poverty at national poverty lines
9.3%
2020
n/a
Gross capital formation, % of GDP
26.8%
2024
30.6%
2022

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/qatar | 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 (2021, 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.