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Economy of Bahrain vs Equatorial Guinea compared: GDP & Debt

Updated on by Georank team

Bahrain has a GDP of $47.7B compared to $12.8B for Equatorial Guinea, ranking 95/197 and 148/197 by economy size, respectively.

Bahrain has $64B in government debt (141.4% of GDP), compared to $4.62B (35.1% of GDP) in Equatorial Guinea.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Bahrain
GDP, current $

GDP, constant 2015 $
Equatorial Guinea
GDP, current $

GDP, constant 2015 $
Year GDP
Bahrain Equatorial Guinea
Current $ Constant $ Current $ Constant $
1962 - - $37,253,333 -
1963 - - $44,266,667 -
1964 - - $51,915,000 -
1965 - - $64,748,333 -
1966 - - $69,110,000 -
1967 - - $72,317,447 -
1968 - - $67,514,286 -
1969 - - $67,225,714 -
1970 $391,577,364 $3,916,965,158 $66,331,429 -
1971 $422,181,562 $3,979,916,383 $64,946,955 -
1972 $534,081,184 $4,420,574,963 $65,429,198 -
1973 $761,132,545 $5,036,098,060 $81,203,227 -
1974 $1,042,176,884 $5,462,767,480 $94,159,863 -
1975 $1,099,107,601 $4,980,141,416 $104,295,643 -
1976 $1,581,709,519 $6,497,904,126 $103,653,050 -
1977 $1,989,060,283 $7,343,778,518 $103,987,520 -
1978 $2,272,042,965 $7,627,414,970 - -
1979 $2,710,160,739 $7,892,030,438 - -
1980 $3,493,834,468 $8,095,666,864 $50,642,881 $132,086,051
1981 $3,943,109,532 $7,665,244,758 $36,731,423 $139,706,651
1982 $4,145,421,080 $7,086,042,176 $44,294,648 $142,782,539
1983 $4,247,030,468 $7,537,874,925 $44,442,457 $149,927,930
1984 $4,440,874,566 $7,915,043,506 $50,320,914 $151,444,273
1985 $4,152,376,484 $7,538,424,481 $62,118,570 $170,988,428
1986 $3,470,746,843 $7,627,603,584 $76,407,396 $167,003,446
1987 $3,856,922,694 $8,420,798,792 $93,345,860 $174,412,950
1988 $4,209,834,173 $9,010,254,004 $100,534,657 $179,044,071
1989 $4,393,093,963 $9,043,051,972 $88,265,975 $176,843,301
1990 $4,809,511,005 $9,444,382,363 $112,119,411 $173,733,398
1991 $5,248,911,170 $10,504,986,340 $110,906,029 $171,957,428
1992 $5,402,232,447 $11,207,769,729 $134,707,184 $231,704,586
1993 $5,913,001,064 $12,650,210,449 $136,047,906 $257,269,047
1994 $6,330,627,926 $12,618,584,749 $100,807,003 $300,152,801
1995 $6,651,180,851 $13,114,494,169 $141,853,361 $352,638,312
1996 $6,938,166,755 $13,653,500,708 $232,463,023 $587,424,890
1997 $7,219,407,713 $14,075,803,380 $442,337,871 $1,468,403,405
1998 $7,031,309,043 $14,750,034,868 $370,687,634 $1,817,508,713
1999 $7,528,469,149 $15,384,286,109 $621,117,886 $2,283,954,429
2000 $9,062,898,936 $16,199,663,949 $1,045,998,496 $2,699,948,864
2001 $8,976,196,809 $16,603,189,277 $1,461,139,022 $4,411,173,090
2002 $9,593,510,638 $17,159,155,483 $1,806,742,742 $5,269,712,387
2003 $11,074,813,830 $18,239,571,634 $2,484,745,935 $6,005,113,942
2004 $13,150,159,574 $19,512,869,154 $4,410,764,339 $8,286,980,786
2005 $15,968,723,404 $20,833,694,756 $8,217,369,093 $9,674,942,387
2006 $18,504,760,638 $22,181,009,695 $10,086,528,699 $10,420,388,727
2007 $21,730,000,000 $24,020,694,053 $13,071,718,759 $12,012,844,403
2008 $25,710,904,255 $25,520,789,027 $19,749,893,536 $14,151,023,688
2009 $22,938,218,085 $26,168,987,899 $15,027,795,173 $14,341,122,354
2010 $26,805,984,043 $27,303,230,073 $16,314,443,436 $13,061,295,371
2011 $29,914,680,851 $27,829,679,464 $21,357,343,669 $13,913,404,306
2012 $31,963,404,255 $28,888,050,242 $22,388,344,144 $15,070,007,775
2013 $33,823,324,468 $30,416,985,616 $21,948,834,284 $14,447,134,440
2014 $34,772,526,596 $31,727,610,008 $21,765,453,082 $14,507,099,626
2015 $32,523,297,872 $32,523,297,872 $13,185,496,881 $13,185,496,881
2016 $33,884,680,851 $33,764,059,499 $11,240,808,848 $12,023,008,462
2017 $37,204,813,830 $35,436,675,411 $12,200,913,879 $11,341,603,435
2018 $39,567,978,723 $36,164,044,588 $13,097,012,134 $10,634,279,339
2019 $40,446,808,511 $36,906,448,211 $11,364,133,550 $10,051,326,715
2020 $35,837,632,979 $34,724,774,104 $9,893,816,008 $9,569,759,527
2021 $40,840,212,766 $36,235,315,986 $12,215,878,033 $9,652,085,293
2022 $46,458,191,489 $38,474,716,945 $13,687,643,436 $9,963,221,065
2023 $46,192,260,638 $39,966,811,156 $12,337,550,584 $9,456,161,987
2024 $47,736,702,128 $41,172,709,123 $12,765,777,677 $9,541,952,851

Economic indicators

Bahrain Equatorial Guinea
Gross domestic product
$47.7B
2024
$12.8B
2024
GDP rank
95/197
2024
148/197
2024
GDP growth
3.34%
2023-2024
3.47%
2023-2024
GDP per capita
$30,048
2024
$6,745
2024
GDP per capita rank
41/197
2024
106/197
2024
GDP per capita, PPP
$67,211
2024
$17,567
2024
Government debt
$64B
2024
$4.62B
2024
Debt-to-GDP ratio
141.4%
2025
35.1%
2025
Government debt per person
$40,267
2024
$2,442
2024
Government debt per person rank
13/185
2024
112/185
2024
Average annual personal income after taxes
$20,364
2025
$4,393
2025
Market capitalization of domestic companies
$20.4B
2024
n/a
Income share by richest 10% n/a
29.1%
2022
Income share by poorest 10% n/a
2.6%
2022
Government expenditure, % of GDP
29.6%
2025
18.7%
2025
Consumer prices inflation
0.92%
2023-2024
2.9%
2024-2025
Central bank interest rate
4.75%
2025
n/a
Unemployment rate
1.2%
2012
8.6%
2014
Population
1650128
1975406

GDP per capita in Bahrain vs Equatorial Guinea

Bahrain's GDP per capita is $30,048, ranking 41/197, compared to $6,745 in Equatorial Guinea, ranking 106/197. Adjusted for purchasing power (GDP per capita PPP), Bahrain ranks 26th at $67,211, while Equatorial Guinea ranks 103rd at $17,567.

Bahrain
GDP per capita

GDP per capita, PPP
Equatorial Guinea
GDP per capita

GDP per capita, PPP
Year Current $
Bahrain Equatorial Guinea
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1962 - - $132.9 -
1963 - - $154.8 -
1964 - - $177.8 -
1965 - - $217.1 -
1966 - - $226.7 -
1967 - - $231.9 -
1968 - - $211.7 -
1969 - - $208.4 -
1970 $1,742 - $206.8 -
1971 $1,830 - $205.6 -
1972 $2,206 - $211.4 -
1973 $2,981 - $268.6 -
1974 $3,874 - $319 -
1975 $3,880 - $362 -
1976 $5,310 - $369 -
1977 $6,358 - $376 -
1978 $6,926 - $376 -
1979 $7,891 - $372 -
1980 $9,733 - $175.5 -
1981 $10,557 - $121.1 -
1982 $10,712 - $137.5 -
1983 $10,599 - $129.4 -
1984 $10,697 - $137.9 -
1985 $9,649 - $161.1 -
1986 $7,777 - $188.8 -
1987 $8,333 - $220.9 -
1988 $8,772 - $228.7 -
1989 $8,833 - $193.2 -
1990 $9,343 $26,902 $236.4 $577
1991 $10,434 $31,657 $225.3 $569
1992 $10,460 $33,648 $263.7 $756
1993 $11,152 $37,870 $256.7 $828
1994 $11,629 $37,579 $183.2 $951
1995 $11,901 $38,839 $248.3 $1,098
1996 $12,092 $40,106 $392 $1,793
1997 $12,255 $40,965 $717 $4,387
1998 $11,625 $42,281 $578 $5,280
1999 $12,123 $43,561 $931 $6,470
2000 $14,214 $45,688 $1,487 $7,420
2001 $13,573 $46,162 $1,949 $11,627
2002 $13,501 $45,091 $2,264 $13,255
2003 $14,486 $45,427 $2,931 $14,496
2004 $15,964 $46,317 $4,901 $19,354
2005 $17,966 $47,268 $8,674 $22,137
2006 $19,267 $48,009 $10,185 $23,511
2007 $20,908 $49,347 $12,617 $26,611
2008 $23,299 $50,330 $18,211 $30,523
2009 $19,465 $48,626 $13,233 $29,722
2010 $21,819 $49,255 $13,720 $26,168
2011 $25,033 $52,677 $17,198 $27,242
2012 $26,439 $56,713 $17,309 $30,012
2013 $26,990 $56,310 $16,304 $27,910
2014 $26,452 $54,299 $15,549 $27,177
2015 $23,734 $48,034 $9,069 $19,479
2016 $23,800 $47,429 $7,453 $16,649
2017 $24,785 $50,185 $7,809 $18,435
2018 $26,324 $51,993 $8,102 $18,413
2019 $27,260 $56,600 $6,804 $16,451
2020 $24,343 $53,436 $5,764 $13,677
2021 $27,148 $54,955 $6,946 $16,821
2022 $30,471 $61,678 $7,589 $18,140
2023 $29,290 $64,171 $6,678 $17,412
2024 $30,048 $67,211 $6,745 $17,567

Spending and national debt comparison

In 2024, Bahrain's government spending was $14.4B, accounting for 29.6% of its GDP, while Equatorial Guinea's spent $2.52B, or 18.7% of GDP.

Debt-to-GDP ratio is 141.4% in Bahrain and 35.1% in Equatorial Guinea, ranking 8/185 and 148/185, respectively.

Bahrain
Government spending

Government debt
Equatorial Guinea
Government spending

Government debt
Year % of GDP
Bahrain Equatorial Guinea
Government spending Government debt Government spending Government debt
1985 - - 115.4% 183.8%
1986 - - 119% 152.5%
1987 - - 183% 141.3%
1988 - - 227.9% 154.5%
1989 - - 116.8% 187%
1990 32.4% 7.24% 212.9% 157%
1991 28.5% 6.71% 284.5% 169.5%
1992 29.4% 6.45% 595% 136.9%
1993 26.7% 5.95% 256.3% 152.6%
1994 26.1% 5.62% 510% 216%
1995 25.1% 13.6% 141.5% 136.9%
1996 22.7% 13.1% 22.9% 91.2%
1997 31% 14.8% 14.8% 46.3%
1998 25.7% 20% 35.1% 59.2%
1999 27.1% 24.7% 18.7% 60.5%
2000 22.2% 24.7% 22.6% 36.6%
2001 26.5% 25% 13.5% 25.5%
2002 30.6% 27.2% 11.3% 19.4%
2003 28.1% 31.1% 13.9% 6.77%
2004 25% 28.2% 10.8% 4.54%
2005 23.9% 23.2% 14.1% 2.85%
2006 23.1% 19.4% 18.1% 1.22%
2007 22.4% 15.7% 19.7% 0.75%
2008 22.7% 12.1% 19.9% 0.49%
2009 24.6% 20.5% 39.8% 4.34%
2010 31.1% 28.8% 31.2% 7.89%
2011 30.2% 31.6% 27.5% 7.17%
2012 31.1% 34.8% 35.2% 7.1%
2013 32% 42.3% 29.3% 6.27%
2014 27.3% 42.6% 31.6% 12.6%
2015 34.8% 63.2% 41.6% 31.7%
2016 33.3% 77.4% 27.8% 41.1%
2017 30.7% 84% 20.1% 36.2%
2018 32.1% 90.4% 19.1% 40.6%
2019 31.2% 97.1% 16.8% 43.2%
2020 34.6% 125.7% 16.2% 49.4%
2021 30.6% 122.3% 12.7% 42.3%
2022 27.5% 111.6% 14.8% 29.8%
2023 27.9% 123% 19.2% 36.3%
2024 30.2% 134% 19.7% 36.2%
2025 29.6% 141.4% 18.7% 35.1%

Government deficit by year

In 2024, Bahrain's government deficit, the difference between spending and revenue, was -$5.11B, equivalent to -10.7% of GDP. This compares to Equatorial Guinea's deficit of -$158M, or -1.23% of GDP.

Over the past 35 years, Bahrain recorded a fiscal deficit in 27 of those years, while Equatorial Guinea ran a deficit in 20 years. On average, Bahrain posted an annual deficit equal to -5.34% of GDP, compared to deficit of -48.9% of GDP for Equatorial Guinea.

Deficit/surplus
Bahrain

Equatorial Guinea
Year Deficit/surplus, % of GDP
Bahrain Equatorial Guinea
1985 - -89.3%
1986 - -97.3%
1987 - -158%
1988 - -208.5%
1989 - -76.2%
1990 -6.79% -160.2%
1991 -3.47% -236%
1992 -5.41% -557%
1993 -2.77% -217.9%
1994 -5.18% -487%
1995 -3.99% -123.4%
1996 0.24% -6.36%
1997 -6.39% 3.21%
1998 -5.49% -7.65%
1999 -4.85% -0.19%
2000 7.33% -2.67%
2001 0.7% 14.9%
2002 -3.27% 17.6%
2003 -1.7% 7.85%
2004 0.24% 13.9%
2005 2.8% 18.5%
2006 2.24% 21.8%
2007 1.52% 17.2%
2008 4.08% 14.6%
2009 -5.36% -6.47%
2010 -9.29% -4.53%
2011 -4.9% 0.83%
2012 -5.77% -7.24%
2013 -8.55% -4.4%
2014 -3.32% -7.54%
2015 -17.5% -15.1%
2016 -16.6% -10.9%
2017 -13.4% -2.59%
2018 -11.3% 0.52%
2019 -8.57% 1.82%
2020 -17.3% -1.77%
2021 -10.6% 2.65%
2022 -5.15% 11.7%
2023 -8.46% 2.39%
2024 -10.7% -1.23%
2025 -10.4% -0.78%

Inflation comparison by year

Over the past 29 years, Bahrain has recorded an average annual inflation rate of 1.28%, compared with 3.94% in Equatorial Guinea. In 2024, inflation was 0.92% in Bahrain and 2.9% in Equatorial Guinea.

Inflation
Bahrain

Equatorial Guinea
Year Inflation
Bahrain Equatorial Guinea Bahrain Equatorial Guinea
1996 -0.45% 4.5%
1997 2.43% 3%
1998 -0.37% 7.9%
1999 -1.29% 0.4%
2000 -0.7% 4.8%
2001 -1.21% 8.7%
2002 -0.5% 7.6%
2003 1.59% 7.3%
2004 2.35% 4.2%
2005 2.59% 5.6%
2006 2.01% 4.5%
2007 3.26% 2.8%
2008 3.53% 4.7%
2009 2.8% 5.7%
2010 1.96% 5.3%
2011 -0.4% 4.8%
2012 2.76% 3.4%
2013 3.3% 3.2%
2014 2.65% 4.3%
2015 1.85% 1.7%
2016 2.79% 1.4%
2017 1.39% 0.7%
2018 2.09% 1.3%
2019 1.01% 1.2%
2020 -2.32% 4.8%
2021 -0.61% -0.1%
2022 3.63% 4.9%
2023 0.07% 2.4%
2024 0.92% 3.4%
2025 - 2.9%

Top exports between countries

Bahrain
Export category Export value
Machinery & equipment $284K
Equatorial Guinea
Export category Export value
Textiles & consumer goods $2K

Balance of trade

Bahrain Equatorial Guinea
Current account balance
$2.28B
2024
-$344M
1996
Current account balance ranking
42/189
2024
99/189
1996
Current account balance, % of GDP
+4.78%
2024
-148%
1996
Goods imports
$20.7B
2024
$292M
1996
Goods exports
$24.3B
2024
$175M
1996
Service imports
$12.4B
2024
$185M
1996
Service exports
$17B
2024
$4.88M
1996
Imports of goods and services, % of GDP
70.1%
2023
25.4%
2024
Exports of goods and services, % of GDP
87.4%
2023
35.2%
2024

Economic freedom indices

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

Bahrain Equatorial Guinea
Economic freedom 65.6 47.7
Economic freedom ranking 61/197 175/197
Property rights 65.4 18.7
Government integrity 39.8 7.2
Judicial effectiveness 30.2 7.1
Tax burden 99.9 74.9
Government spending 74.3 92.5
Fiscal health 0 97.2
Business freedom 76.5 36.5
Labor freedom 55.3 44.9
Monetary freedom 88.7 74.3
Trade freedom 86.6 48.8
Investment freedom 90 40
Financial freedom 80 30

Economic freedom by year comparison

The Economic Freedom Index for Bahrain is 65.6, ranking 61/197, compared to 47.7 for Equatorial Guinea, ranking 175/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Bahrain
Equatorial Guinea
Year Economic freedom index
Bahrain Equatorial Guinea
1995 76.2 -
1996 76.4 -
1997 76.1 -
1998 75.6 -
1999 75.2 45.1
2000 75.7 45.6
2001 75.9 47.9
2002 75.6 46.4
2003 76.3 53.1
2004 75.1 53.3
2005 71.2 53.3
2006 71.6 51.5
2007 71.2 53.2
2008 72.2 51.6
2009 74.8 51.3
2010 76.3 48.6
2011 77.7 47.5
2012 75.2 42.8
2013 75.5 42.3
2014 75.1 44.4
2015 73.4 40.4
2016 74.3 43.7
2017 68.5 45
2018 67.7 42
2019 66.4 41
2020 66.3 48.3
2021 69.9 49.2
2022 62 47.2
2023 62.5 48.3
2024 63.4 47.7
2025 65.6 47.7

More economic indicators

Bahrain Equatorial Guinea
Services, % of GDP
51.9%
2023
51.1%
2024
Industry, % of GDP
43.4%
2023
45.8%
2024
Agriculture, forestry, and fishing, % of GDP
0.25%
2023
3.15%
2024
GNI, Atlas method
$45.8B
2024
$8.96B
2024
GNI per capita, PPP
$63,610
2024
$12,330
2024
Total reserves including gold
$4.95B
2024
$1.54B
2023
Total reserves ranking
102/177
2024
134/177
2023
Net foreign direct investment
-$2.43B
2024
-$376M
1996
Net inflows of foreign direct investment
$2.7B
2024
$188M
2024
Net outflows of foreign direct investment
$275M
2024
$154M
2024
Poverty at national poverty lines n/a
50.7%
2022
Gross capital formation, % of GDP
29.3%
2023
8.96%
2024

GDP per capita map

GDP per capita

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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.