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Economy of Bahamas vs Uganda compared: GDP & Debt

Updated on by Georank team

The Bahamas has a GDP of $15.8B compared to $53.9B for Uganda, ranking 140/197 and 89/197 by economy size, respectively.

The Bahamas has $11.5B in government debt (72.5% of GDP), compared to $27.8B (51.5% of GDP) in Uganda.

Bahamas vs Uganda GDP by year

Bahamas
Uganda
1x
Year GDP, current $
Bahamas Uganda
2024 $15,832,800,000 $53,911,907,086
2023 $15,271,300,000 $48,768,955,863
2022 $13,896,800,000 $45,565,333,211
2021 $12,037,000,000 $40,529,788,749
2020 $10,363,200,000 $37,600,368,242
2019 $13,277,000,000 $35,353,061,003
2018 $12,819,200,000 $32,927,025,620
2017 $12,446,900,000 $30,744,473,841
2016 $11,880,900,000 $29,203,988,696
2015 $11,837,600,000 $32,387,183,730
2014 $11,139,100,000 $32,612,397,257
2013 $10,475,300,000 $28,915,786,517
2012 $10,720,400,000 $27,305,915,911
2011 $10,070,450,000 $27,871,725,241
2010 $10,095,760,000 $26,673,441,431
2009 $9,981,960,000 $25,127,805,567
2008 $10,526,000,000 $14,440,404,132
2007 $10,618,340,000 $11,902,564,495
2006 $10,167,250,000 $9,977,647,683
2005 $9,836,200,000 $9,239,221,763
2004 $9,055,290,000 $7,939,487,548
2003 $8,870,090,000 $6,606,884,275
2002 $8,881,160,000 $6,178,563,591
2001 $8,317,830,000 $5,840,503,869
2000 $8,076,470,000 $6,193,246,837
1999 $7,683,870,000 $5,998,563,258
1998 $6,833,220,000 $6,584,815,847
1997 $6,332,360,000 $6,269,333,313
1996 $3,609,000,000 $6,044,585,327
1995 $3,429,000,000 $5,755,818,842
1994 $3,259,000,000 $3,990,430,447
1993 $3,092,000,000 $3,220,439,044
1992 $3,109,000,000 $2,857,457,762
1991 $3,111,160,000 $3,321,729,160
1990 $3,166,000,000 $4,304,399,310
1989 $3,062,000,000 $5,276,480,799
1988 $2,817,900,000 $6,508,931,652
1987 $2,713,999,900 $6,269,522,042
1986 $2,472,500,000 $3,923,244,050
1985 $2,320,699,900 $3,519,695,444
1984 $2,041,100,000 $3,615,647,477
1983 $1,732,800,000 $2,240,333,333
1982 $1,578,300,000 $2,177,500,000
1981 $1,426,500,000 $1,337,300,000
1980 $1,335,300,000 $1,244,610,000
1979 $1,139,800,100 $2,139,025,000
1978 $832,400,000 $2,420,260,870
1977 $713,000,000 $2,936,470,588
1976 $642,100,000 $2,447,300,000
1975 $596,200,000 $2,359,555,556
1974 $632,400,000 $2,098,944,967
1973 $670,900,000 $1,701,829,789
1972 $590,900,000 $1,490,970,181
1971 $573,400,000 $1,417,191,656
1970 $539,500,000 $1,259,554,809
1969 $538,700,000 $1,168,556,629
1968 $453,800,000 $1,037,379,252
1967 $398,000,000 $967,240,655
1966 $346,800,000 $925,381,492
1965 $300,272,048 $884,502,310
1964 $266,560,043 $589,247,687
1963 $237,650,038 $516,315,231
1962 $212,170,034 $449,158,233
1961 $190,022,030 $441,667,335
1960 $169,736,027 $423,145,605

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

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

GDP per capita in Bahamas vs Uganda by year

Bahamas
GDP per capita

GDP per capita, PPP
Uganda
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahamas Uganda
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $39,455 $41,198 $1,078 $3,273
2023 $38,232 $39,090 $1,002 $3,098
2022 $34,957 $36,791 $963 $2,919
2021 $30,368 $31,065 $883 $2,685
2020 $26,179 $27,205 $846 $2,532
2019 $33,640 $36,116 $822 $2,441
2018 $32,642 $35,228 $792 $2,312
2017 $31,875 $34,282 $765 $2,158
2016 $30,617 $32,285 $753 $2,165
2015 $30,719 $32,138 $863 $2,190
2014 $29,137 $31,726 $896 $2,134
2013 $27,643 $30,294 $818 $2,045
2012 $28,552 $31,036 $795 $2,032
2011 $27,091 $30,074 $836 $2,268
2010 $27,473 $29,625 $823 $2,092
2009 $27,513 $29,197 $799 $2,015
2008 $29,392 $30,679 $473 $1,931
2007 $30,052 $31,232 $401 $1,795
2006 $29,185 $30,402 $347 $1,660
2005 $28,602 $29,143 $330 $1,497
2004 $26,650 $27,660 $292.4 $1,405
2003 $26,429 $27,031 $250.7 $1,320
2002 $26,782 $27,171 $242 $1,255
2001 $25,372 $26,351 $236 $1,173
2000 $24,940 $25,422 $258.1 $1,124
1999 $24,041 $24,184 $257.9 $1,100
1998 $21,667 $22,556 $292.5 $1,037
1997 $20,368 $21,606 $286.8 $1,007
1996 $11,784 $21,287 $284.7 $969
1995 $11,375 $20,377 $278.5 $897
1994 $10,991 $19,441 $198.4 $809
1993 $10,613 $18,781 $165.6 $770
1992 $10,873 $18,636 $152.1 $719
1991 $11,082 $19,296 $183 $703
1990 $11,473 $19,817 $245 $666
1989 $11,291 - $310 -
1988 $10,576 - $395 -
1987 $10,361 - $393 -
1986 $9,601 - $253.6 -
1985 $9,167 - $234.3 -
1984 $8,202 - $247.5 -
1983 $7,081 - $157.5 -
1982 $6,559 - $157 -
1981 $6,029 - $98.6 -
1980 $5,743 - $93.8 -
1979 $4,994 - $164.5 -
1978 $3,720 - $190.7 -
1977 $3,253 - $237.6 -
1976 $2,993 - $203.3 -
1975 $2,841 - $201.2 -
1974 $3,080 - $183.7 -
1973 $3,341 - $152.7 -
1972 $3,014 - $137 -
1971 $3,004 - $133.5 -
1970 $2,916 - $122 -
1969 $3,027 - $116.7 -
1968 $2,668 - $106.9 -
1967 $2,453 - $102.8 -
1966 $2,239 - $101.4 -
1965 $2,030 - $100 -
1964 $1,883 - $68.6 -
1963 $1,759 - $62 -
1962 $1,651 - $55.5 -
1961 $1,555 - $56.2 -
1960 $1,459 - $55.4 -

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

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

The Bahamas' GDP per capita is $39,455, ranking 30/197, compared to $1,078 in Uganda, ranking 176/197. Adjusted for purchasing power (GDP per capita PPP), the Bahamas ranks 57th at $41,198, while Uganda ranks 176th at $3,273.

Economic indicators

Bahamas Uganda
Gross domestic product
$15.8B
2024
$53.9B
2024
GDP rank
140/197
2024
89/197
2024
GDP growth
3.38%
2023-2024
6.06%
2023-2024
GDP per capita
$39,455
2024
$1,078
2024
GDP per capita rank
30/197
2024
176/197
2024
GDP per capita, PPP
$41,198
2024
$3,273
2024
GDP per capita PPP rank
57/197
2024
176/197
2024
Government debt
$11.5B
2024
$27.8B
2024
Debt-to-GDP ratio
72.5%
2024
51.5%
2024
Government debt per person
$28,616
2024
$555
2024
Government debt per person rank
25/185
2024
163/185
2024
Average annual personal income after taxes
$29,535
2026
$1,466
2026
Income share by richest 10% n/a
34.5%
2019
Income share by poorest 10% n/a
2.4%
2019
Government expenditure, % of GDP
20.6%
2024
18.7%
2024
Consumer prices inflation
0.41%
2023-2024
3.3%
2023-2024
Central bank interest rate
4%
2016
9.75%
2024
Unemployment rate
8.65%
2023
3.42%
2021
Population
405203
53170946

Spending and national debt comparison by year

Bahamas
Spending

Debt
Uganda
Spending

Debt
1x
Year % of GDP
Bahamas Uganda
Government spending Government debt Government spending Government debt
2024 20.6% 72.5% 18.7% 51.5%
2023 22.2% 74.8% 19.3% 50.5%
2022 23.9% 79.1% 19.5% 50.2%
2021 26.9% 84.5% 22% 50.3%
2020 28.2% 81.9% 21.4% 46.3%
2019 19.9% 59.3% 18.3% 37.5%
2018 19.2% 60.6% 16.2% 34.9%
2017 22.5% 53.4% 16.3% 33.6%
2016 19.4% 51% 15.2% 31.3%
2015 17.9% 48.5% 14.9% 28%
2014 17.6% 46.3% 13.6% 24.8%
2013 18.4% 44.8% 13.3% 22.1%
2012 16.5% 36.4% 13.1% 19.5%
2011 17.1% 35.3% 13.2% 18%
2010 15.3% 33.7% 15.4% 18.4%
2009 15.6% 30.9% 11.8% 14.8%
2008 14.4% 25.5% 12.9% 15.7%
2007 13.3% 23% 13.2% 17%
2006 13% 22.8% 13.7% 27.8%
2005 12.3% 22% 14.5% 42.6%
2004 12.4% 21.4% 15.6% 49%
2003 11.8% 20.9% 16.5% 55.1%
2002 11.3% 18.8% 16.8% 54.7%
2001 11.2% 18.2% 16.2% 51.4%
2000 11.3% 18.7% 15.2% 48.5%
1999 8.78% 18.7% 14.7% 47.7%
1998 11.6% 20% 14% 45.1%
1997 12.5% 20.8% 13.9% 44.2%
1996 11.2% 20.2% - -
1995 11.2% 20.5% - -
1994 11.4% 20.4% - -
1993 11.5% 19.8% - -
1992 11.8% 17.9% - -
1991 12% 15.4% - -
1990 11.4% 13.2% - -

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

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

In 2024, the Bahamas' government spending was $3.26B, accounting for 20.6% of its GDP, while Uganda spent $10.1B, or 18.7% of GDP.

Debt-to-GDP ratio is 72.5% in the Bahamas and 51.5% in Uganda, ranking 53/185 and 103/185, respectively.

Government deficit by year

Deficit/surplus
Bahamas

Uganda
1x
Year Deficit/surplus, % of GDP
Bahamas Uganda
2024 -1.18% -3.99%
2023 -3.49% -4.87%
2022 -5.16% -5.45%
2021 -11.1% -7.76%
2020 -8.09% -7.76%
2019 -1.65% -4.82%
2018 -3.24% -3.02%
2017 -5.92% -3.83%
2016 -2.61% -2.64%
2015 -3.24% -2.59%
2014 -4.38% -2.74%
2013 -5.16% -3.19%
2012 -3.15% -2.39%
2011 -2.87% -2.04%
2010 -2.56% -4.64%
2009 -2.45% -1.61%
2008 -0.83% -1.99%
2007 -0.76% -0.82%
2006 -0.43% -0.64%
2005 -1.11% -0.17%
2004 -1.93% 0.34%
2003 -1.63% -0.97%
2002 -1.62% -2.07%
2001 0.3% -0.99%
2000 0.09% -0.62%
1999 1.68% -1.24%
1998 -0.41% -0.7%
1997 -1.56% -0.83%
1996 -0.15% -
1995 0.18% -
1994 -0.39% -
1993 -1.05% -
1992 -2.23% -
1991 -2.29% -
1990 -2.64% -

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

GeoRank.org/economy/bahamas/uganda | 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 Uganda's deficit of $2.15B, or 3.99% of GDP.

Over the past 28 years, the Bahamas recorded a fiscal deficit in 25 of those years, while Uganda ran a deficit in 27 years. On average, the Bahamas posted an annual deficit equal to 2.66% of GDP, compared to deficit of 2.64% of GDP for Uganda.

Inflation comparison by year

Inflation
Bahamas

Uganda
1x
Year Consumer prices inflation
Bahamas Uganda
2024 0.41% 3.3%
2023 3.05% 5.4%
2022 5.61% 7.2%
2021 2.9% 2.2%
2020 0.04% 2.8%
2019 2.49% 2.1%
2018 2.27% 2.5%
2017 1.52% 5.6%
2016 -0.35% 5.2%
2015 1.86% 3.7%
2014 1.51% 4.3%
2013 0.72% 5.5%
2012 1.97% 14%
2011 3.2% 18.7%
2010 1.34% 4%
2009 2.06% 13%
2008 4.49% 12%
2007 2.49% 6.1%
2006 2.39% 7.2%
2005 1.59% 8.6%
2004 0.98% 3.7%
2003 3.03% 8.7%
2002 2.17% -0.3%
2001 2.04% 1.9%
2000 1.61% 3.4%
1999 1.25% 5.8%
1998 1.34% 5.8%
1997 0.54% 7.7%

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/uganda | CC BY

Over the past 28 years, the Bahamas has recorded an average annual inflation rate of 1.95%, compared with 6.08% in Uganda. In 2024, inflation was 0.41% in the Bahamas and 3.3% in Uganda.

Balance of trade

Bahamas Uganda
Current account balance
-$1.05B
2024
-$4.29B
2024
Current account balance ranking
127/190
2024
164/190
2024
Current account balance, % of GDP
-6.65%
2024
-7.96%
2024
Goods imports
$4.6B
2024
$11.7B
2024
Goods exports
$874M
2024
$8.67B
2024
Service imports
$2.47B
2024
$4.38B
2024
Service exports
$5.9B
2024
$2.39B
2024
Imports of goods and services, % of GDP
41.5%
2024
25.9%
2024
Exports of goods and services, % of GDP
37.8%
2024
16.8%
2024

Economic freedom indices

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

Bahamas Uganda
Economic freedom 65.1 52.4
Economic freedom ranking 66/197 149/197
Property rights 62.7 42.2
Government integrity 67.1 25.1
Judicial effectiveness 79.8 29.4
Tax burden 96.1 73.4
Government spending 83.8 89
Fiscal health 9.1 58.3
Business freedom 69.4 50.2
Labor freedom 66.5 55.9
Monetary freedom 77.2 77.1
Trade freedom 59.4 58
Investment freedom 50 30
Financial freedom 60 40

Economic freedom comparison by year

Bahamas
Uganda
1x
Year Economic freedom index
Bahamas Uganda
2026 65.1 52.4
2025 63.2 51.3
2024 62.5 50.7
2023 62.6 51.4
2022 68.7 54.2
2021 64.6 58.6
2020 64.5 59.5
2019 62.9 59.7
2018 63.3 62
2017 61.1 60.9
2016 70.9 59.3
2015 68.7 59.7
2014 69.8 59.9
2013 70.1 61.1
2012 68 61.9
2011 68 61.7
2010 67.3 62.2
2009 70.3 63.5
2008 71.1 63.8
2007 72 63.1
2006 72.3 63.9
2005 72.6 62.9
2004 72.1 64.1
2003 73.5 60.1
2002 74.4 61
2001 74.8 60.4
2000 73.9 58.2
1999 74.7 64.8
1998 74.5 64.7
1997 74.5 66.6
1996 74 66.2
1995 71.8 62.9

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

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

The Economic Freedom Index for the Bahamas is 65.1, ranking 66/197, compared to 52.4 for Uganda, ranking 149/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahamas Uganda
Services, % of GDP
77.2%
2024
43.1%
2024
Industry, % of GDP
9.63%
2024
24.9%
2024
Agriculture, forestry, and fishing, % of GDP
0.51%
2024
24.6%
2024
GNI, Atlas method
$14.9B
2024
$50.9B
2024
GNI per capita, PPP
$39,550
2024
$3,190
2024
Total reserves including gold
$2.51B
2023
$3.36B
2018
Total reserves ranking
122/177
2023
114/177
2018
Net foreign direct investment
-$77.6M
2024
-$3.26B
2024
Net inflows of foreign direct investment
$241M
2024
$3.26B
2024
Net outflows of foreign direct investment
$163M
2024
$400K
2024
Servicing debt to the IMF, % of GNI n/a
2.96%
2024
Poverty at national poverty lines
9.3%
2020
20.3%
2019
Gross capital formation, % of GDP
26.8%
2024
22.4%
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/uganda | 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)

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.