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Economy of Bahrain vs Belize compared: GDP & Debt

Updated on by Georank team

Bahrain has a GDP of $47.1B compared to $3.2B for Belize, ranking 96/197 and 168/197 by economy size, respectively.

Bahrain has $62.8B in government debt (133.4% of GDP), compared to $2.1B (65.4% of GDP) in Belize.

Bahrain vs Belize GDP by year

Bahrain
Belize
1x
Year GDP, current $
Bahrain Belize
2024 $47,109,734,309 $3,203,631,800
2023 $46,192,260,638 $3,052,362,650
2022 $46,458,191,489 $2,846,604,350
2021 $40,840,212,766 $2,428,606,250
2020 $35,837,632,979 $2,047,284,600
2019 $40,446,808,511 $2,381,187,850
2018 $39,567,978,723 $2,285,915,050
2017 $37,204,813,830 $2,266,028,250
2016 $33,884,680,851 $2,239,604,950
2015 $32,523,297,872 $2,193,095,150
2014 $34,772,526,596 $2,138,242,200
2013 $33,823,324,468 $2,035,191,450
2012 $31,963,404,255 $1,917,083,500
2011 $29,914,680,851 $1,831,576,700
2010 $26,805,984,043 $1,748,988,400
2009 $22,938,218,085 $1,688,012,750
2008 $25,710,904,255 $1,738,453,600
2007 $21,730,000,000 $1,706,190,450
2006 $18,504,760,638 $1,590,463,100
2005 $15,968,723,404 $1,474,298,400
2004 $13,150,159,574 $1,400,202,000
2003 $11,074,813,830 $1,308,280,250
2002 $9,593,510,638 $1,243,912,050
2001 $8,976,196,809 $1,172,045,150
2000 $9,062,898,936 $1,138,138,100
1999 $7,528,469,149 $999,713,050
1998 $7,031,309,043 $929,047,000
1997 $7,219,407,713 $872,916,050
1996 $6,938,166,755 $850,339,100
1995 $6,651,180,851 $818,590,250
1994 $6,330,627,926 $771,838,000
1993 $5,913,001,064 $752,255,150
1992 $5,402,232,447 $695,741,150
1991 $5,248,911,170 $596,682,100
1990 $4,809,511,005 $546,750,912
1989 $4,393,093,963 $491,100,000
1988 $4,209,834,173 $421,450,000
1987 $3,856,922,694 $371,100,000
1986 $3,470,746,843 $311,500,000
1985 $4,152,376,484 $287,300,000
1984 $4,440,874,566 $290,350,000
1983 $4,247,030,468 $262,150,000
1982 $4,145,421,080 $248,550,000
1981 $3,943,109,532 $260,750,000
1980 $3,493,834,468 $257,400,000
1979 $2,710,160,739 $151,800,000
1978 $2,272,042,965 $136,300,000
1977 $1,989,060,283 $117,650,000
1976 $1,581,709,519 $97,094,227
1975 $1,099,107,601 $118,194,026
1974 $1,042,176,884 $103,160,450
1973 $761,132,545 $78,214,768
1972 $534,081,184 $65,998,069
1971 $422,181,562 $59,074,687
1970 $391,577,364 $53,339,893
1969 - $47,399,905
1968 - $44,999,910
1967 - $47,431,256
1966 - $44,450,044
1965 - $40,110,040
1964 - $36,194,586
1963 - $33,750,114
1962 - $31,857,592
1961 - $29,965,000
1960 - $28,072,478

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

GeoRank.org/economy/bahrain/belize | CC BY

GDP per capita in Bahrain vs Belize by year

Bahrain
GDP per capita

GDP per capita, PPP
Belize
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahrain Belize
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $29,654 $66,941 $7,681 $14,347
2023 $29,290 $64,171 $7,425 $13,730
2022 $30,471 $61,678 $7,068 $13,461
2021 $27,148 $54,955 $6,143 $11,716
2020 $24,343 $53,436 $5,239 $9,639
2019 $27,260 $56,600 $6,172 $10,500
2018 $26,324 $51,993 $6,012 $9,497
2017 $24,785 $50,185 $6,072 $9,121
2016 $23,800 $47,429 $6,141 $9,399
2015 $23,734 $48,034 $6,155 $9,538
2014 $26,452 $54,299 $6,128 $9,490
2013 $26,990 $56,310 $5,957 $9,526
2012 $26,439 $56,713 $5,733 $9,303
2011 $25,033 $52,677 $5,596 $9,722
2010 $21,819 $49,255 $5,461 $9,748
2009 $19,465 $48,626 $5,400 $9,728
2008 $23,299 $50,330 $5,712 $9,975
2007 $20,908 $49,347 $5,762 $10,226
2006 $19,267 $48,009 $5,525 $9,910
2005 $17,966 $47,268 $5,270 $9,466
2004 $15,964 $46,317 $5,154 $9,245
2003 $14,486 $45,427 $4,960 $8,850
2002 $13,501 $45,091 $4,859 $8,154
2001 $13,573 $46,162 $4,719 $7,852
2000 $14,214 $45,688 $4,727 $7,544
1999 $12,123 $43,561 $4,290 $6,790
1998 $11,625 $42,281 $4,126 $6,333
1997 $12,255 $40,965 $4,014 $6,243
1996 $12,092 $40,106 $4,043 $6,087
1995 $11,901 $38,839 $4,010 $6,091
1994 $11,629 $37,579 $3,877 $6,073
1993 $11,152 $37,870 $3,860 $6,075
1992 $10,460 $33,648 $3,643 $5,706
1991 $10,434 $31,657 $3,190 $5,053
1990 $9,343 $26,902 $2,986 $4,467
1989 $8,833 - $2,742 -
1988 $8,772 - $2,406 -
1987 $8,333 - $2,166 -
1986 $7,777 - $1,859 -
1985 $9,649 - $1,754 -
1984 $10,697 - $1,814 -
1983 $10,599 - $1,677 -
1982 $10,712 - $1,629 -
1981 $10,557 - $1,753 -
1980 $9,733 - $1,774 -
1979 $7,891 - $1,071 -
1978 $6,926 - $983 -
1977 $6,358 - $866 -
1976 $5,310 - $729 -
1975 $3,880 - $906 -
1974 $3,874 - $805 -
1973 $2,981 - $619 -
1972 $2,206 - $529 -
1971 $1,830 - $481 -
1970 $1,742 - $442 -
1969 - - $402 -
1968 - - $392 -
1967 - - $426 -
1966 - - $412 -
1965 - - $383 -
1964 - - $356 -
1963 - - $342 -
1962 - - $332 -
1961 - - $320 -
1960 - - $307 -

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

GeoRank.org/economy/bahrain/belize | CC BY

Bahrain's GDP per capita is $29,654, ranking 42/197, compared to $7,681 in Belize, ranking 98/197. Adjusted for purchasing power (GDP per capita PPP), Bahrain ranks 26th at $66,941, while Belize ranks 117th at $14,347.

Economic indicators

Bahrain Belize
Gross domestic product
$47.1B
2024
$3.2B
2024
GDP rank
96/197
2024
168/197
2024
GDP growth
2.6%
2023-2024
3.5%
2023-2024
GDP per capita
$29,654
2024
$7,681
2024
GDP per capita rank
42/197
2024
98/197
2024
GDP per capita, PPP
$66,941
2024
$14,347
2024
GDP per capita PPP rank
26/197
2024
117/197
2024
Government debt
$62.8B
2024
$2.1B
2024
Debt-to-GDP ratio
133.4%
2024
65.4%
2024
Government debt per person
$39,552
2024
$5,026
2024
Government debt per person rank
14/185
2024
78/185
2024
Average annual personal income after taxes
$23,253
2026
$9,204
2026
Market capitalization of domestic companies
$20.4B
2024
n/a
Number of billionaires n/a
1
2025
Income share by richest 10% n/a
30%
2018
Income share by poorest 10% n/a
2.2%
2018
Government expenditure, % of GDP
29.1%
2024
26.3%
2024
Consumer prices inflation
0.92%
2023-2024
3.3%
2023-2024
Central bank interest rate
4.25%
2025
n/a
Unemployment rate
1.2%
2012
29.3%
2020
Population
1669503
430409

Spending and national debt comparison by year

Bahrain
Spending

Debt
Belize
Spending

Debt
1x
Year % of GDP
Bahrain Belize
Government spending Government debt Government spending Government debt
2024 29.1% 133.4% 26.3% 65.4%
2023 29.1% 123% 25.8% 67.5%
2022 28.4% 111.6% 23.4% 66.8%
2021 30.6% 122.3% 25.7% 82.2%
2020 34.6% 125.7% 33.2% 103%
2019 31.2% 97.1% 27.5% 78.6%
2018 32.1% 90.4% 26.9% 79%
2017 30.7% 84% 27.7% 78.1%
2016 33.3% 77.4% 27.7% 70.5%
2015 34.8% 63.2% 27.9% 65.1%
2014 27.3% 42.6% 24.8% 61.5%
2013 32% 42.3% 23.8% 62.8%
2012 31.1% 34.8% 22.1% 63.1%
2011 30.2% 31.6% 23.5% 66.2%
2010 31.1% 28.8% 23.3% 68.4%
2009 24.6% 20.5% 23.2% 69.7%
2008 22.7% 12.1% 21.8% 64.7%
2007 22.4% 15.7% 22.1% 66.4%
2006 23.1% 19.4% 21.2% 71.4%
2005 23.9% 23.2% 21.4% 72.7%
2004 25% 28.2% 21.7% 70.7%
2003 28.1% 31.1% 24.6% 67.2%
2002 30.6% 27.2% 24.4% 53.2%
2001 26.5% 25% 25.9% 49.5%
2000 22.2% 24.7% 23.2% 79%
1999 27.1% 24.7% 23.6% 41.5%
1998 25.7% 20% 20.9% 38.7%
1997 31% 14.8% 19.9% 39.4%
1996 22.7% 13.1% 19.9% 38.4%
1995 25.1% 13.6% - -
1994 26.1% 5.62% - -
1993 26.7% 5.95% - -
1992 29.4% 6.45% - -
1991 28.5% 6.71% - -
1990 32.4% 7.24% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1996–2000, retrieved 2026-02-20).

GeoRank.org/economy/bahrain/belize | CC BY

In 2024, Bahrain's government spending was $13.7B, accounting for 29.1% of its GDP, while Belize spent $842M, or 26.3% of GDP.

Debt-to-GDP ratio is 133.4% in Bahrain and 65.4% in Belize, ranking 9/185 and 67/185, respectively.

Government deficit by year

Deficit/surplus
Bahrain

Belize
1x
Year Deficit/surplus, % of GDP
Bahrain Belize
2024 -10.6% -1.23%
2023 -9.67% -2.42%
2022 -6.02% -1.04%
2021 -10.6% -3.29%
2020 -17.3% -8.57%
2019 -8.57% -2.9%
2018 -11.3% -1.37%
2017 -13.4% -3.48%
2016 -16.6% -4.47%
2015 -17.5% -5.14%
2014 -3.32% -1.72%
2013 -8.55% -1.21%
2012 -5.77% -0.22%
2011 -4.9% -1.06%
2010 -9.29% -1.9%
2009 -5.36% -2.46%
2008 4.08% 1.25%
2007 1.52% -0.19%
2006 2.24% -2.27%
2005 2.8% -3.7%
2004 0.24% -4.52%
2003 -1.7% -8.41%
2002 -3.27% -5.41%
2001 0.7% -7.23%
2000 7.33% -6.68%
1999 -4.85% -6.51%
1998 -5.49% -2.69%
1997 -6.39% -1.81%
1996 0.24% -1.76%
1995 -3.99% -
1994 -5.18% -
1993 -2.77% -
1992 -5.41% -
1991 -3.47% -
1990 -6.79% -

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

GeoRank.org/economy/bahrain/belize | CC BY

In 2024, Bahrain's government deficit, the difference between spending and revenue, was $5B, equivalent to 10.6% of GDP. This compares to Belize's deficit of $39.4M, or 1.23% of GDP.

Over the past 29 years, Bahrain recorded a fiscal deficit in 21 of those years, while Belize ran a deficit in 28 years. On average, Bahrain posted an annual deficit equal to 5.56% of GDP, compared to deficit of 3.19% of GDP for Belize.

Inflation comparison by year

Inflation
Bahrain

Belize
1x
Year Consumer prices inflation
Bahrain Belize
2024 0.92% 3.3%
2023 0.07% 4.4%
2022 3.63% 6.3%
2021 -0.61% 3.2%
2020 -2.32% 0.1%
2019 1.01% 0.2%
2018 2.09% 0.3%
2017 1.39% 1.1%
2016 2.79% 0.7%
2015 1.85% -0.9%
2014 2.65% 1.2%
2013 3.3% 0.5%
2012 2.76% 1.2%
2011 -0.4% 1.7%
2010 1.96% 0.9%
2009 2.8% -1.1%
2008 3.53% 6.4%
2007 3.26% 2.3%
2006 2.01% 4.2%
2005 2.59% 3.7%
2004 2.35% 3.1%
2003 1.59% 2.6%
2002 -0.5% 2.2%
2001 -1.21% 1.1%
2000 -0.7% 0.6%
1999 -1.29% -1.2%
1998 -0.37% -0.8%
1997 2.43% 1%

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/bahrain/belize | CC BY

Over the past 28 years, Bahrain has recorded an average annual inflation rate of 1.34%, compared with 1.73% in Belize. In 2024, inflation was 0.92% in Bahrain and 3.3% in Belize.

Balance of trade

Bahrain Belize
Current account balance
$2.28B
2024
-$51.7M
2024
Current account balance ranking
44/190
2024
84/190
2024
Current account balance, % of GDP
+4.84%
2024
-1.61%
2024
Goods imports
$20.7B
2024
$1.36B
2024
Goods exports
$24.3B
2024
$482M
2024
Service imports
$12.4B
2024
$362M
2024
Service exports
$17B
2024
$1.16B
2024
Imports of goods and services, % of GDP
70.1%
2024
53.7%
2024
Exports of goods and services, % of GDP
87.7%
2024
55.2%
2024

Economic freedom indices

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

Bahrain Belize
Economic freedom 65.7 64.7
Economic freedom ranking 63/197 71/197
Property rights 60.9 46.3
Government integrity 45.9 46.2
Judicial effectiveness 30 73.9
Tax burden 99.9 81.8
Government spending 75 81
Fiscal health 0 87.5
Business freedom 75.9 67.2
Labor freedom 55.5 57.6
Monetary freedom 88.8 72.6
Trade freedom 86.8 57.8
Investment freedom 90 55
Financial freedom 80 50

Economic freedom comparison by year

Bahrain
Belize
1x
Year Economic freedom index
Bahrain Belize
2026 65.7 64.7
2025 65.6 64.2
2024 63.4 61.2
2023 62.5 59.8
2022 62 56.6
2021 69.9 57.5
2020 66.3 57.4
2019 66.4 55.4
2018 67.7 57.1
2017 68.5 58.6
2016 74.3 57.4
2015 73.4 56.8
2014 75.1 56.7
2013 75.5 57.3
2012 75.2 61.9
2011 77.7 63.8
2010 76.3 61.5
2009 74.8 63
2008 72.2 63
2007 71.2 63.3
2006 71.6 64.7
2005 71.2 64.5
2004 75.1 62.8
2003 76.3 63.5
2002 75.6 65.6
2001 75.9 65.9
2000 75.7 63.3
1999 75.2 60.7
1998 75.6 59.1
1997 76.1 64.3
1996 76.4 61.6
1995 76.2 62.9

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

GeoRank.org/economy/bahrain/belize | CC BY

The Economic Freedom Index for Bahrain is 65.7, ranking 63/197, compared to 64.7 for Belize, ranking 71/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahrain Belize
Services, % of GDP
53.2%
2024
62.4%
2024
Industry, % of GDP
42.3%
2024
14.6%
2024
Agriculture, forestry, and fishing, % of GDP
0.25%
2024
7.95%
2024
GNI, Atlas method
$44.6B
2024
$2.98B
2024
GNI per capita, PPP
$62,230
2024
$13,760
2024
Total reserves including gold
$4.95B
2024
$498M
2024
Total reserves ranking
102/177
2024
156/177
2024
Net foreign direct investment
-$2.43B
2024
-$126M
2024
Net inflows of foreign direct investment
$2.7B
2024
$128M
2024
Net outflows of foreign direct investment
$275M
2024
$2.61M
2024
Servicing debt to the IMF, % of GNI n/a
4.15%
2024
Poverty at national poverty lines n/a
52%
2018
Gross capital formation, % of GDP
28.4%
2024
19.8%
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/bahrain/belize | 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 (1996–2000, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. 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.