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Economy of Bahamas vs Ukraine compared: GDP & Debt

Updated on by Georank team

The Bahamas has a GDP of $15.8B compared to $191B for Ukraine, ranking 140/197 and 57/197 by economy size, respectively.

The Bahamas has $11.5B in government debt (72.5% of GDP), compared to $171B (89.7% of GDP) in Ukraine.

Bahamas vs Ukraine GDP by year

Bahamas
Ukraine
1x
Year GDP, current $
Bahamas Ukraine
2024 $15,832,800,000 $190,741,262,415
2023 $15,271,300,000 $181,221,517,869
2022 $13,896,800,000 $161,989,520,721
2021 $12,037,000,000 $199,765,859,571
2020 $10,363,200,000 $156,617,722,013
2019 $13,277,000,000 $153,883,047,510
2018 $12,819,200,000 $130,891,088,294
2017 $12,446,900,000 $112,090,505,082
2016 $11,880,900,000 $93,355,869,404
2015 $11,837,600,000 $91,030,967,789
2014 $11,139,100,000 $133,503,871,862
2013 $10,475,300,000 $190,498,811,460
2012 $10,720,400,000 $182,591,753,828
2011 $10,070,450,000 $169,333,835,202
2010 $10,095,760,000 $141,209,170,427
2009 $9,981,960,000 $121,552,153,444
2008 $10,526,000,000 $188,110,390,660
2007 $10,618,340,000 $148,733,861,386
2006 $10,167,250,000 $111,884,752,475
2005 $9,836,200,000 $89,238,865,119
2004 $9,055,290,000 $67,220,154,164
2003 $8,870,090,000 $52,010,355,753
2002 $8,881,160,000 $43,956,163,612
2001 $8,317,830,000 $39,309,580,983
2000 $8,076,470,000 $32,375,083,935
1999 $7,683,870,000 $31,580,639,554
1998 $6,833,220,000 $41,882,523,345
1997 $6,332,360,000 $50,151,531,592
1996 $3,609,000,000 $44,558,831,005
1995 $3,429,000,000 $48,213,856,469
1994 $3,259,000,000 $52,549,580,265
1993 $3,092,000,000 $65,648,559,903
1992 $3,109,000,000 $73,945,908,384
1991 $3,111,160,000 $77,350,733,982
1990 $3,166,000,000 $81,393,558,423
1989 $3,062,000,000 $82,709,161,099
1988 $2,817,900,000 $74,703,517,903
1987 $2,713,999,900 $64,087,694,038
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 (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Bahamas vs Ukraine by year

Bahamas
GDP per capita

GDP per capita, PPP
Ukraine
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahamas Ukraine
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $39,455 $41,198 $5,038 $18,550
2023 $38,232 $39,090 $4,803 $17,665
2022 $34,957 $36,791 $3,946 $14,770
2021 $30,368 $31,065 $4,510 $17,846
2020 $26,179 $27,205 $3,505 $15,541
2019 $33,640 $36,116 $3,423 $14,217
2018 $32,642 $35,228 $2,895 $12,555
2017 $31,875 $34,282 $2,467 $11,536
2016 $30,617 $32,285 $2,047 $10,865
2015 $30,719 $32,138 $1,988 $9,922
2014 $29,137 $31,726 $2,904 $10,494
2013 $27,643 $30,294 $4,130 $10,904
2012 $28,552 $31,036 $3,951 $9,552
2011 $27,091 $30,074 $3,657 $9,127
2010 $27,473 $29,625 $3,040 $8,453
2009 $27,513 $29,197 $2,607 $7,995
2008 $29,392 $30,679 $4,018 $9,324
2007 $30,052 $31,232 $3,160 $8,900
2006 $29,185 $30,402 $2,366 $7,971
2005 $28,602 $29,143 $1,875 $7,142
2004 $26,650 $27,660 $1,401 $6,663
2003 $26,429 $27,031 $1,076 $5,764
2002 $26,782 $27,171 $903 $5,123
2001 $25,372 $26,351 $800 $4,747
2000 $24,940 $25,422 $653 $4,228
1999 $24,041 $24,184 $632 $3,871
1998 $21,667 $22,556 $831 $3,794
1997 $20,368 $21,606 $987 $3,794
1996 $11,784 $21,287 $870 $3,812
1995 $11,375 $20,377 $933 $4,124
1994 $10,991 $19,441 $1,009 $4,565
1993 $10,613 $18,781 $1,254 $5,766
1992 $10,873 $18,636 $1,413 $6,568
1991 $11,082 $19,296 $1,483 $7,148
1990 $11,473 $19,817 $1,564 $7,591
1989 $11,291 - $1,593 -
1988 $10,576 - $1,444 -
1987 $10,361 - $1,244 -
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 (1960–2024, retrieved 2026-04-06).

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

The Bahamas' GDP per capita is $39,455, ranking 30/197, compared to $5,038 in Ukraine, ranking 120/197. Adjusted for purchasing power (GDP per capita PPP), the Bahamas ranks 57th at $41,198, while Ukraine ranks 101st at $18,550.

Economic indicators

Bahamas Ukraine
Gross domestic product
$15.8B
2024
$191B
2024
GDP rank
140/197
2024
57/197
2024
GDP growth
3.38%
2023-2024
2.91%
2023-2024
GDP per capita
$39,455
2024
$5,038
2024
GDP per capita rank
30/197
2024
120/197
2024
GDP per capita, PPP
$41,198
2024
$18,550
2024
GDP per capita PPP rank
57/197
2024
101/197
2024
Government debt
$11.5B
2024
$171B
2024
Debt-to-GDP ratio
72.5%
2024
89.7%
2024
Government debt per person
$28,616
2024
$4,520
2024
Government debt per person rank
25/185
2024
86/185
2024
Average annual personal income after taxes
$29,535
2026
$5,370
2026
Market capitalization of domestic companies n/a
$4.42B
2018
Number of billionaires n/a
7
2025
Income share by richest 10% n/a
21.7%
2020
Income share by poorest 10% n/a
4.3%
2020
Government expenditure, % of GDP
20.6%
2024
71.3%
2024
Consumer prices inflation
0.41%
2023-2024
6.5%
2023-2024
Central bank interest rate
4%
2016
15.5%
2025
Unemployment rate
8.65%
2023
9.83%
2021
Population
405203
40125599

Spending and national debt comparison by year

Bahamas
Spending

Debt
Ukraine
Spending

Debt
1x
Year % of GDP
Bahamas Ukraine
Government spending Government debt Government spending Government debt
2024 20.6% 72.5% 71.3% 89.7%
2023 22.2% 74.8% 73.4% 81.2%
2022 23.9% 79.1% 65.4% 77.7%
2021 26.9% 84.5% 40.5% 48.9%
2020 28.2% 81.9% 45.6% 60.5%
2019 19.9% 59.3% 41.5% 50.5%
2018 19.2% 60.6% 41.9% 60.4%
2017 22.5% 53.4% 41.7% 71.6%
2016 19.4% 51% 40.8% 79.5%
2015 17.9% 48.5% 43% 79.3%
2014 17.6% 46.3% 44.8% 70.3%
2013 18.4% 44.8% 48.1% 40.5%
2012 16.5% 36.4% 49% 37.5%
2011 17.1% 35.3% 45.7% 36.9%
2010 15.3% 33.7% 49.2% 40.6%
2009 15.6% 30.9% 48.6% 35.4%
2008 14.4% 25.5% 47.1% 20.4%
2007 13.3% 23% 43.7% 12.3%
2006 13% 22.8% 44.6% 14.8%
2005 12.3% 22% 44.2% 17.7%
2004 12.4% 21.4% 41.6% 24.8%
2003 11.8% 20.9% 38.9% 29.4%
2002 11.3% 18.8% 37.9% 33.6%
2001 11.2% 18.2% 36.7% 36.7%
2000 11.3% 18.7% 35.5% 43.8%
1999 8.78% 18.7% 25.8% 59%
1998 11.6% 20% 37.1% 46.5%
1997 12.5% 20.8% 40.8% 28.9%
1996 11.2% 20.2% 36.9% 24.4%
1995 11.2% 20.5% 41.3% 30.2%
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); International Monetary Fund (IMF) | Public Finances in Modern History (1995–1996, retrieved 2026-02-20).

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

In 2024, the Bahamas' government spending was $3.26B, accounting for 20.6% of its GDP, while Ukraine spent $136B, or 71.3% of GDP.

Debt-to-GDP ratio is 72.5% in the Bahamas and 89.7% in Ukraine, ranking 53/185 and 33/185, respectively.

Government deficit by year

Deficit/surplus
Bahamas

Ukraine
1x
Year Deficit/surplus, % of GDP
Bahamas Ukraine
2024 -1.18% -17.2%
2023 -3.49% -19.3%
2022 -5.16% -15.6%
2021 -11.1% -3.97%
2020 -8.09% -5.92%
2019 -1.65% -2.08%
2018 -3.24% -2.12%
2017 -5.92% -2.36%
2016 -2.61% -2.46%
2015 -3.24% -1.16%
2014 -4.38% -4.46%
2013 -5.16% -4.78%
2012 -3.15% -4.31%
2011 -2.87% -2.76%
2010 -2.56% -5.77%
2009 -2.45% -6.27%
2008 -0.83% -3.14%
2007 -0.76% -1.97%
2006 -0.43% -1.36%
2005 -1.11% -2.28%
2004 -1.93% -4.41%
2003 -1.63% -0.89%
2002 -1.62% -1.84%
2001 0.3% -3.03%
2000 0.09% -3.19%
1999 1.68% 4.95%
1998 -0.41% -2.69%
1997 -1.56% -5.37%
1996 -0.15% -3.09%
1995 0.18% -4.72%
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/ukraine | 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 Ukraine's deficit of $32.8B, or 17.2% of GDP.

Over the past 30 years, the Bahamas recorded a fiscal deficit in 26 of those years, while Ukraine ran a deficit in 29 years. On average, the Bahamas posted an annual deficit equal to 2.48% of GDP, compared to deficit of 4.45% of GDP for Ukraine.

Inflation comparison by year

Inflation
Bahamas

Ukraine
1x
Year Consumer prices inflation
Bahamas Ukraine
2024 0.41% 6.5%
2023 3.05% 12.9%
2022 5.61% 20.2%
2021 2.9% 9.4%
2020 0.04% 2.7%
2019 2.49% 7.9%
2018 2.27% 10.9%
2017 1.52% 14.4%
2016 -0.35% 13.9%
2015 1.86% 48.7%
2014 1.51% 12.1%
2013 0.72% -0.3%
2012 1.97% 0.6%
2011 3.2% 8%
2010 1.34% 9.4%
2009 2.06% 15.9%
2008 4.49% 25.2%
2007 2.49% 12.8%
2006 2.39% 9.1%
2005 1.59% 13.5%
2004 0.98% 9%
2003 3.03% 5.2%
2002 2.17% 0.8%
2001 2.04% 12%
2000 1.61% 28.2%
1999 1.25% 22.7%
1998 1.34% 10.6%
1997 0.54% 15.9%

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/ukraine | CC BY

Over the past 28 years, the Bahamas has recorded an average annual inflation rate of 1.95%, compared with 12.8% in Ukraine. In 2024, inflation was 0.41% in the Bahamas and 6.5% in Ukraine.

Top exports between countries

Bahamas
Export category Export value
Ukraine
Export category Export value
Machinery & equipment $9.38M
Animal & marine products $53K
Processed food, beverages & tobacco $28K
Raw agricultural goods $13K
Metals $8K
Raw materials & minerals $5K
Textiles & consumer goods $5K
Chemicals & pharma $3K

Balance of trade

Bahamas Ukraine
Current account balance
-$1.05B
2024
-$15.1B
2024
Current account balance ranking
127/190
2024
179/190
2024
Current account balance, % of GDP
-6.65%
2024
-7.94%
2024
Goods imports
$4.6B
2024
$72.3B
2024
Goods exports
$874M
2024
$39.3B
2024
Service imports
$2.47B
2024
$22.9B
2024
Service exports
$5.9B
2024
$17.3B
2024
Imports of goods and services, % of GDP
41.5%
2024
48.3%
2024
Exports of goods and services, % of GDP
37.8%
2024
29.4%
2024

Economic freedom indices

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

Bahamas Ukraine
Economic freedom 65.1 54.1
Economic freedom ranking 66/197 135/197
Property rights 62.7 21.6
Government integrity 67.1 35
Judicial effectiveness 79.8 28.2
Tax burden 96.1 83.7
Government spending 83.8 0
Fiscal health 9.1 3.9
Business freedom 69.4 57.4
Labor freedom 66.5 46.9
Monetary freedom 77.2 65.7
Trade freedom 59.4 73
Investment freedom 50 35
Financial freedom 60 30

Economic freedom comparison by year

Bahamas
Ukraine
1x
Year Economic freedom index
Bahamas Ukraine
2026 65.1 -
2025 63.2 -
2024 62.5 -
2023 62.6 -
2022 68.7 54.1
2021 64.6 56.2
2020 64.5 54.9
2019 62.9 52.3
2018 63.3 51.9
2017 61.1 48.1
2016 70.9 46.8
2015 68.7 46.9
2014 69.8 49.3
2013 70.1 46.3
2012 68 46.1
2011 68 45.8
2010 67.3 46.4
2009 70.3 48.8
2008 71.1 51
2007 72 51.5
2006 72.3 54.4
2005 72.6 55.8
2004 72.1 53.7
2003 73.5 51.1
2002 74.4 48.2
2001 74.8 48.5
2000 73.9 47.8
1999 74.7 43.7
1998 74.5 40.4
1997 74.5 43.5
1996 74 40.6
1995 71.8 39.9

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

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

The Economic Freedom Index for the Bahamas is 65.1, ranking 66/197, compared to 54.1 for Ukraine, ranking 135/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahamas Ukraine
Services, % of GDP
77.2%
2024
60.6%
2024
Industry, % of GDP
9.63%
2024
19%
2024
Agriculture, forestry, and fishing, % of GDP
0.51%
2024
7.11%
2024
GNI, Atlas method
$14.9B
2024
$184B
2024
GNI per capita, PPP
$39,550
2024
$18,560
2024
Total reserves including gold
$2.51B
2023
$43.8B
2024
Total reserves ranking
122/177
2023
46/177
2024
Net foreign direct investment
-$77.6M
2024
-$3.71B
2024
Net inflows of foreign direct investment
$241M
2024
$4.02B
2024
Net outflows of foreign direct investment
$163M
2024
$305M
2024
Servicing debt to the IMF, % of GNI n/a
5.42%
2024
Poverty at national poverty lines
9.3%
2020
23.2%
2020
Gross capital formation, % of GDP
26.8%
2024
18.6%
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/ukraine | 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. TradeMap (2022–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1995–1996, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. 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.