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Economy of Bahrain vs Cyprus compared: GDP & Debt

Updated on by Georank team

Bahrain has a GDP of $47.1B compared to $37.6B for Cyprus, ranking 96/197 and 103/197 by economy size, respectively.

Bahrain has $62.8B in government debt (133.4% of GDP), compared to $24.5B (65.1% of GDP) in Cyprus.

Bahrain vs Cyprus GDP by year

Bahrain
Cyprus
1x
Year GDP, current $
Bahrain Cyprus
2024 $47,109,734,309 $37,634,533,332
2023 $46,192,260,638 $35,075,423,857
2022 $46,458,191,489 $31,218,038,929
2021 $40,840,212,766 $30,372,642,502
2020 $35,837,632,979 $25,555,093,854
2019 $40,446,808,511 $26,196,667,100
2018 $39,567,978,723 $25,754,001,368
2017 $37,204,813,830 $22,946,570,629
2016 $33,884,680,851 $21,046,462,281
2015 $32,523,297,872 $19,909,278,417
2014 $34,772,526,596 $23,225,918,260
2013 $33,823,324,468 $23,959,712,861
2012 $31,963,404,255 $25,047,436,975
2011 $29,914,680,851 $27,641,549,302
2010 $26,805,984,043 $25,799,940,078
2009 $22,938,218,085 $26,048,179,949
2008 $25,710,904,255 $27,844,646,258
2007 $21,730,000,000 $23,968,727,074
2006 $18,504,760,638 $20,072,754,987
2005 $15,968,723,404 $18,433,412,511
2004 $13,150,159,574 $17,320,551,250
2003 $11,074,813,830 $14,547,329,558
2002 $9,593,510,638 $11,420,228,846
2001 $8,976,196,809 $10,397,898,907
2000 $9,062,898,936 $9,985,847,314
1999 $7,528,469,149 $10,497,907,228
1998 $7,031,309,043 $10,248,618,778
1997 $7,219,407,713 $9,547,816,420
1996 $6,938,166,755 $10,011,914,680
1995 $6,651,180,851 $9,933,137,128
1994 $6,330,627,926 $7,425,703,929
1993 $5,913,001,064 $6,590,291,048
1992 $5,402,232,447 $6,912,150,456
1991 $5,248,911,170 $5,770,197,348
1990 $4,809,511,005 $5,591,130,218
1989 $4,393,093,963 $4,563,482,604
1988 $4,209,834,173 $4,278,792,597
1987 $3,856,922,694 $3,704,813,886
1986 $3,470,746,843 $3,090,734,463
1985 $4,152,376,484 $2,430,411,900
1984 $4,440,874,566 $2,278,248,953
1983 $4,247,030,468 $2,160,364,071
1982 $4,145,421,080 $2,159,242,417
1981 $3,943,109,532 $2,087,496,374
1980 $3,493,834,468 $2,154,311,277
1979 $2,710,160,739 $1,288,699,776
1978 $2,272,042,965 $964,024,364
1977 $1,989,060,283 $734,876,021
1976 $1,581,709,519 $576,090,074
1975 $1,099,107,601 $489,912,574
1974 $1,042,176,884 -
1973 $761,132,545 -
1972 $534,081,184 -
1971 $422,181,562 -
1970 $391,577,364 -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

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

GDP per capita in Bahrain vs Cyprus by year

Bahrain
GDP per capita

GDP per capita, PPP
Cyprus
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahrain Cyprus
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $29,654 $66,941 $27,707 $63,007
2023 $29,290 $64,171 $26,079 $59,875
2022 $30,471 $61,678 $23,448 $55,876
2021 $27,148 $54,955 $23,057 $47,633
2020 $24,343 $53,436 $19,624 $42,569
2019 $27,260 $56,600 $20,360 $44,394
2018 $26,324 $51,993 $20,267 $40,262
2017 $24,785 $50,185 $18,295 $37,768
2016 $23,800 $47,429 $17,013 $35,247
2015 $23,734 $48,034 $16,326 $31,380
2014 $26,452 $54,299 $19,326 $29,893
2013 $26,990 $56,310 $20,238 $30,416
2012 $26,439 $56,713 $21,493 $31,924
2011 $25,033 $52,677 $24,110 $33,406
2010 $21,819 $49,255 $22,876 $33,502
2009 $19,465 $48,626 $23,480 $33,901
2008 $23,299 $50,330 $25,522 $34,830
2007 $20,908 $49,347 $22,344 $32,888
2006 $19,267 $48,009 $19,037 $30,009
2005 $17,966 $47,268 $17,790 $27,763
2004 $15,964 $46,317 $17,016 $25,942
2003 $14,486 $45,427 $14,553 $24,278
2002 $13,501 $45,091 $11,636 $23,556
2001 $13,573 $46,162 $10,785 $22,866
2000 $14,214 $45,688 $10,537 $21,296
1999 $12,123 $43,561 $11,273 $19,663
1998 $11,625 $42,281 $11,206 $18,760
1997 $12,255 $40,965 $10,637 $17,781
1996 $12,092 $40,106 $11,373 $17,320
1995 $11,901 $38,839 $11,514 $17,096
1994 $11,629 $37,579 $8,791 $15,735
1993 $11,152 $37,870 $7,978 $14,852
1992 $10,460 $33,648 $8,530 $14,759
1991 $10,434 $31,657 $7,222 $13,546
1990 $9,343 $26,902 $7,092 $13,348
1989 $8,833 - $5,870 -
1988 $8,772 - $5,584 -
1987 $8,333 - $4,908 -
1986 $7,777 - $4,159 -
1985 $9,649 - $3,324 -
1984 $10,697 - $3,167 -
1983 $10,599 - $3,055 -
1982 $10,712 - $3,100 -
1981 $10,557 - $3,030 -
1980 $9,733 - $3,154 -
1979 $7,891 - $1,902 -
1978 $6,926 - $1,434 -
1977 $6,358 - $1,102 -
1976 $5,310 - $870 -
1975 $3,880 - $743 -
1974 $3,874 - - -
1973 $2,981 - - -
1972 $2,206 - - -
1971 $1,830 - - -
1970 $1,742 - - -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

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

Bahrain's GDP per capita is $29,654, ranking 42/197, compared to $27,707 in Cyprus, ranking 45/197. Adjusted for purchasing power (GDP per capita PPP), Bahrain ranks 26th at $66,941, while Cyprus ranks 29th at $63,007.

Economic indicators

Bahrain Cyprus
Gross domestic product
$47.1B
2024
$37.6B
2024
GDP rank
96/197
2024
103/197
2024
GDP growth
2.6%
2023-2024
3.94%
2023-2024
GDP per capita
$29,654
2024
$27,707
2024
GDP per capita rank
42/197
2024
45/197
2024
GDP per capita, PPP
$66,941
2024
$63,007
2024
GDP per capita PPP rank
26/197
2024
29/197
2024
Government debt
$62.8B
2024
$24.5B
2024
Debt-to-GDP ratio
133.4%
2024
65.1%
2024
Government debt per person
$39,552
2024
$18,034
2024
Government debt per person rank
14/185
2024
34/185
2024
Average annual personal income after taxes
$23,253
2026
$25,384
2026
Market capitalization of domestic companies
$20.4B
2024
$10.9B
2024
Number of billionaires n/a
10
2025
Income share by richest 10% n/a
26.3%
2023
Income share by poorest 10% n/a
3.6%
2023
Government expenditure, % of GDP
29.1%
2024
40%
2024
Consumer prices inflation
0.92%
2023-2024
1.8%
2023-2024
Central bank interest rate
4.25%
2025
n/a
Unemployment rate
1.2%
2012
4.87%
2024
Population
1669503
1386362

Spending and national debt comparison by year

Bahrain
Spending

Debt
Cyprus
Spending

Debt
1x
Year % of GDP
Bahrain Cyprus
Government spending Government debt Government spending Government debt
2024 29.1% 133.4% 40% 65.1%
2023 29.1% 123% 42% 73.6%
2022 28.4% 111.6% 38% 81.1%
2021 30.6% 122.3% 42.6% 96.5%
2020 34.6% 125.7% 45.9% 113.6%
2019 31.2% 97.1% 40.3% 92.3%
2018 32.1% 90.4% 44.3% 100.7%
2017 30.7% 84% 38.4% 96.4%
2016 33.3% 77.4% 39.6% 106.8%
2015 34.8% 63.2% 43% 111.6%
2014 27.3% 42.6% 52.1% 113%
2013 32% 42.3% 42.1% 102.7%
2012 31.1% 34.8% 41.9% 79.2%
2011 30.2% 31.6% 42.1% 64.8%
2010 31.1% 28.8% 41.7% 55.3%
2009 24.6% 20.5% 41.9% 52.8%
2008 22.7% 12.1% 38.2% 44.1%
2007 22.4% 15.7% 37.6% 53.1%
2006 23.1% 19.4% 39.1% 59%
2005 23.9% 23.2% 39.7% 64%
2004 25% 28.2% 38.6% 64.7%
2003 28.1% 31.1% 40.4% 63%
2002 30.6% 27.2% 37.4% 61%
2001 26.5% 25% 35.7% 57.5%
2000 22.2% 24.7% 35% 56%
1999 27.1% 24.7% 34.3% 55.7%
1998 25.7% 20% 34.4% 55%
1997 31% 14.8% 34.2% 53.5%
1996 22.7% 13.1% 32.4% 48.8%
1995 25.1% 13.6% 30.4% 46.7%
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).

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

In 2024, Bahrain's government spending was $13.7B, accounting for 29.1% of its GDP, while Cyprus spent $15B, or 40% of GDP.

Debt-to-GDP ratio is 133.4% in Bahrain and 65.1% in Cyprus, ranking 9/185 and 68/185, respectively.

Government deficit by year

Deficit/surplus
Bahrain

Cyprus
1x
Year Deficit/surplus, % of GDP
Bahrain Cyprus
2024 -10.6% 4.28%
2023 -9.67% 1.7%
2022 -6.02% 2.65%
2021 -10.6% -1.64%
2020 -17.3% -5.57%
2019 -8.57% 1.03%
2018 -11.3% -3.36%
2017 -13.4% 2.13%
2016 -16.6% 0.45%
2015 -17.5% -0.77%
2014 -3.32% -8.8%
2013 -8.55% -5.16%
2012 -5.77% -5.55%
2011 -4.9% -5.65%
2010 -9.29% -4.68%
2009 -5.36% -5.43%
2008 4.08% 0.87%
2007 1.52% 3.23%
2006 2.24% -1.04%
2005 2.8% -2.22%
2004 0.24% -3.71%
2003 -1.7% -5.91%
2002 -3.27% -4.13%
2001 0.7% -2.11%
2000 7.33% -2.24%
1999 -4.85% -4.05%
1998 -5.49% -3.85%
1997 -6.39% -4.82%
1996 0.24% -2.96%
1995 -3.99% -0.71%
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/cyprus | 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 Cyprus' surplus of $1.61B, or 4.28% of GDP.

Over the past 30 years, Bahrain recorded a fiscal deficit in 22 of those years, while Cyprus ran a deficit in 22 years. On average, Bahrain posted an annual deficit equal to 5.51% of GDP, compared to deficit of 2.27% of GDP for Cyprus.

Inflation comparison by year

Inflation
Bahrain

Cyprus
1x
Year Consumer prices inflation
Bahrain Cyprus
2024 0.92% 1.8%
2023 0.07% 3.54%
2022 3.63% 8.4%
2021 -0.61% 2.45%
2020 -2.32% -0.64%
2019 1.01% 0.25%
2018 2.09% 1.44%
2017 1.39% 0.53%
2016 2.79% -1.43%
2015 1.85% -2.1%
2014 2.65% -1.35%
2013 3.3% -0.4%
2012 2.76% 2.39%
2011 -0.4% 3.29%
2010 1.96% 2.43%
2009 2.8% 0.33%
2008 3.53% 4.67%
2007 3.26% 2.37%
2006 2.01% 2.3%
2005 2.59% 2.56%
2004 2.35% 2.29%
2003 1.59% 4.14%
2002 -0.5% 2.8%
2001 -1.21% 1.97%
2000 -0.7% 4.14%
1999 -1.29% 1.63%
1998 -0.37% 2.23%
1997 2.43% 3.61%

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

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

Over the past 28 years, Bahrain has recorded an average annual inflation rate of 1.34%, compared with 1.99% in Cyprus. In 2024, inflation was 0.92% in Bahrain and 1.8% in Cyprus.

Top exports between countries

Bahrain
Export category Export value
Metals $495K
Raw materials & minerals $404K
Wood & paper products $245K
Chemicals & pharma $161K
Machinery & equipment $39K
Weapons & explosives $21K
Textiles & consumer goods $12K
Miscellaneous $5K
Precious metals & jewellery $4K
Cyprus
Export category Export value
Processed food, beverages & tobacco $3.75M
Chemicals & pharma $1.18M
Textiles & consumer goods $454K
Raw agricultural goods $171K
Animal & marine products $123K
Machinery & equipment $63K
Weapons & explosives $44K
Precious metals & jewellery $33K
Miscellaneous $10K
Wood & paper products $9K

Balance of trade

Bahrain Cyprus
Current account balance
$2.28B
2024
-$3.07B
2024
Current account balance ranking
44/190
2024
157/190
2024
Current account balance, % of GDP
+4.84%
2024
-8.16%
2024
Goods imports
$20.7B
2024
$11.9B
2024
Goods exports
$24.3B
2024
$4.43B
2024
Service imports
$12.4B
2024
$23.2B
2024
Service exports
$17B
2024
$32.1B
2024
Imports of goods and services, % of GDP
70.1%
2024
93.4%
2024
Exports of goods and services, % of GDP
87.7%
2024
97%
2024

Economic freedom indices

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

Bahrain Cyprus
Economic freedom 65.7 74.1
Economic freedom ranking 63/197 21/197
Property rights 60.9 85.1
Government integrity 45.9 59.7
Judicial effectiveness 30 89.8
Tax burden 99.9 80.8
Government spending 75 52.1
Fiscal health 0 91.5
Business freedom 75.9 82.3
Labor freedom 55.5 60.3
Monetary freedom 88.8 78.7
Trade freedom 86.8 79.4
Investment freedom 90 70
Financial freedom 80 60

Economic freedom comparison by year

Bahrain
Cyprus
1x
Year Economic freedom index
Bahrain Cyprus
2026 65.7 74.1
2025 65.6 73.2
2024 63.4 72.2
2023 62.5 72.3
2022 62 72.9
2021 69.9 71.4
2020 66.3 70.1
2019 66.4 68.1
2018 67.7 67.8
2017 68.5 67.9
2016 74.3 68.7
2015 73.4 67.9
2014 75.1 67.6
2013 75.5 69
2012 75.2 71.8
2011 77.7 73.3
2010 76.3 70.9
2009 74.8 70.8
2008 72.2 71.3
2007 71.2 71.7
2006 71.6 71.8
2005 71.2 71.9
2004 75.1 74.1
2003 76.3 73.3
2002 75.6 73
2001 75.9 71
2000 75.7 67.2
1999 75.2 67.8
1998 75.6 68.2
1997 76.1 67.9
1996 76.4 67.7
1995 76.2 -

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

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

The Economic Freedom Index for Bahrain is 65.7, ranking 63/197, compared to 74.1 for Cyprus, ranking 21/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahrain Cyprus
Services, % of GDP
53.2%
2024
76.5%
2024
Industry, % of GDP
42.3%
2024
11.1%
2024
Agriculture, forestry, and fishing, % of GDP
0.25%
2024
1.16%
2024
GNI, Atlas method
$44.6B
2024
$32B
2024
GNI per capita, PPP
$62,230
2024
$56,200
2024
Total reserves including gold
$4.95B
2024
$2.09B
2024
Total reserves ranking
102/177
2024
124/177
2024
Net foreign direct investment
-$2.43B
2024
-$5.49B
2024
Net inflows of foreign direct investment
$2.7B
2024
-$50.4B
2024
Net outflows of foreign direct investment
$275M
2024
-$55.9B
2024
Poverty at national poverty lines n/a
13.9%
2021
Gross capital formation, % of GDP
28.4%
2024
20.7%
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/cyprus | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1970–2024, 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. 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.

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.