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Economy of Bahrain vs Ghana compared: GDP & Debt

Updated on by Georank

Bahrain has a GDP of $49B compared to $114B for Ghana, ranking 98/197 and 69/197 by economy size, respectively.

Bahrain has $72.3B in government debt (147.6% of GDP), compared to $55.8B (48.8% of GDP) in Ghana.

Bahrain vs Ghana GDP by year

Bahrain
Ghana
1x
Year GDP, current $
Bahrain Ghana
2025 $48,965,725,532 $114,209,905,279
2024 $47,210,732,713 $83,288,585,604
2023 $46,192,260,638 $80,547,146,876
2022 $46,458,191,489 $73,919,003,212
2021 $40,840,212,766 $79,514,204,730
2020 $35,837,632,979 $70,008,243,860
2019 $40,446,808,511 $68,352,629,246
2018 $39,567,978,723 $67,259,353,966
2017 $37,204,813,830 $60,385,409,435
2016 $33,884,680,851 $56,144,179,398
2015 $32,523,297,872 $49,436,806,230
2014 $34,772,526,596 $54,678,533,806
2013 $33,823,324,468 $62,845,721,960
2012 $31,963,404,255 $41,271,701,061
2011 $29,914,680,851 $39,336,668,081
2010 $26,805,984,043 $32,197,655,567
2009 $22,938,218,085 $26,048,720,006
2008 $25,710,904,255 $28,679,383,241
2007 $21,730,000,000 $24,827,339,138
2006 $18,504,760,638 $20,885,037,597
2005 $15,968,723,404 $10,744,568,381
2004 $13,150,159,574 $8,881,417,907
2003 $11,074,813,830 $7,632,723,556
2002 $9,593,510,638 $6,166,197,848
2001 $8,976,196,809 $5,314,872,854
2000 $9,062,898,936 $4,982,850,662
1999 $7,528,469,149 $7,718,109,982
1998 $7,031,309,043 $7,482,069,162
1997 $7,219,407,713 $6,891,443,192
1996 $6,938,166,755 $6,932,991,739
1995 $6,651,180,851 $6,464,382,808
1994 $6,330,627,926 $5,446,383,727
1993 $5,913,001,064 $5,968,922,939
1992 $5,402,232,447 $6,416,103,926
1991 $5,248,911,170 $6,603,185,268
1990 $4,809,511,005 $5,889,106,573
1989 $4,393,093,963 $5,251,858,440
1988 $4,209,834,173 $5,197,765,032
1987 $3,856,922,694 $5,074,829,932
1986 $3,470,746,843 $5,735,677,434
1985 $4,152,376,484 $4,504,306,723
1984 $4,440,874,566 $4,412,279,843
1983 $4,247,030,468 $4,057,275,132
1982 $4,145,421,080 $4,035,994,398
1981 $3,943,109,532 $4,222,441,860
1980 $3,493,834,468 $4,445,228,216
1979 $2,710,160,739 $4,020,227,920
1978 $2,272,042,965 $3,662,478,185
1977 $1,989,060,283 $3,189,428,571
1976 $1,581,709,519 $2,765,254,237
1975 $1,099,107,601 $2,810,106,383
1974 $1,042,176,884 $2,894,409,938
1973 $761,132,545 $3,006,766,758
1972 $534,081,184 $2,112,293,280
1971 $422,181,562 $2,417,108,578
1970 $391,577,364 $2,215,028,588
1969 - $1,962,050,556
1968 - $1,666,909,518
1967 - $1,747,187,645
1966 - $2,126,300,672
1965 - $2,053,462,968
1964 - $1,731,296,200
1963 - $1,540,797,589
1962 - $1,382,515,654
1961 - $1,302,674,325
1960 - $1,217,230,095

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Bahrain vs Ghana by year

Bahrain
GDP per capita

GDP per capita, PPP
Ghana
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahrain Ghana
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $30,597 - $3,257 -
2024 $29,717 $66,941 $2,419 $8,020
2023 $29,290 $64,171 $2,384 $7,556
2022 $30,471 $61,678 $2,230 $7,208
2021 $27,148 $54,955 $2,445 $6,608
2020 $24,343 $53,436 $2,195 $6,047
2019 $27,260 $56,600 $2,187 $6,003
2018 $26,324 $51,993 $2,195 $5,536
2017 $24,785 $50,185 $2,012 $5,171
2016 $23,800 $47,429 $1,912 $5,011
2015 $23,734 $48,034 $1,723 $5,191
2014 $26,452 $54,299 $1,950 $5,517
2013 $26,990 $56,310 $2,295 $5,215
2012 $26,439 $56,713 $1,544 $4,934
2011 $25,033 $52,677 $1,507 $4,381
2010 $21,819 $49,255 $1,264 $3,855
2009 $19,465 $48,626 $1,048 $3,617
2008 $23,299 $50,330 $1,183 $3,516
2007 $20,908 $49,347 $1,050 $3,241
2006 $19,267 $48,009 $906 $3,103
2005 $17,966 $47,268 $479 $2,904
2004 $15,964 $46,317 $406 $2,729
2003 $14,486 $45,427 $358 $2,584
2002 $13,501 $45,091 $297.5 $2,475
2001 $13,573 $46,162 $263.5 $2,397
2000 $14,214 $45,688 $253.7 $2,315
1999 $12,123 $43,561 $403 $2,239
1998 $11,625 $42,281 $400 $2,167
1997 $12,255 $40,965 $378 $2,097
1996 $12,092 $40,106 $389 $2,026
1995 $11,901 $38,839 $372 $1,947
1994 $11,629 $37,579 $321 $1,875
1993 $11,152 $37,870 $360 $1,821
1992 $10,460 $33,648 $396 $1,739
1991 $10,434 $31,657 $418 $1,678
1990 $9,343 $26,902 $383 $1,581
1989 $8,833 - $350 -
1988 $8,772 - $355 -
1987 $8,333 - $355 -
1986 $7,777 - $411 -
1985 $9,649 - $330 -
1984 $10,697 - $330 -
1983 $10,599 - $311 -
1982 $10,712 - $319 -
1981 $10,557 - $344 -
1980 $9,733 - $372 -
1979 $7,891 - $347 -
1978 $6,926 - $326 -
1977 $6,358 - $292.3 -
1976 $5,310 - $261 -
1975 $3,880 - $273 -
1974 $3,874 - $289.4 -
1973 $2,981 - $310 -
1972 $2,206 - $223.8 -
1971 $1,830 - $263.4 -
1970 $1,742 - $248.2 -
1969 - - $225.8 -
1968 - - $196.7 -
1967 - - $211.2 -
1966 - - $263.3 -
1965 - - $260.5 -
1964 - - $225 -
1963 - - $205 -
1962 - - $188.4 -
1961 - - $181.9 -
1960 - - $174.9 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Bahrain's GDP per capita is $30,597, ranking 44/197, compared to $3,257 in Ghana, ranking 139/197. Adjusted for purchasing power (GDP per capita PPP), Bahrain ranks 26th at $66,941, while Ghana ranks 140th at $8,020.

Economic indicators

Bahrain Ghana
Gross domestic product
$49B
2025
$114B
2025
GDP rank
98/197
2025
69/197
2025
GDP growth
3.48%
2024-2025
5.95%
2024-2025
GDP per capita
$30,597
2025
$3,257
2025
GDP per capita rank
44/197
2025
139/197
2025
GDP per capita, PPP
$66,941
2024
$8,020
2024
GDP per capita PPP rank
26/197
2024
140/197
2024
Government debt
$72.3B
2025
$55.8B
2025
Debt-to-GDP ratio
147.6%
2025
48.8%
2025
Government debt per person
$45,165
2025
$1,590
2025
Government debt per person rank
13/185
2025
128/185
2025
Average annual personal income after taxes
$23,191
2026
$2,135
2026
Market capitalization of domestic companies
$21.3B
2025
$16.4B
2025
Income share by richest 10% n/a
32.2%
2016
Income share by poorest 10% n/a
1.6%
2016
Government expenditure, % of GDP
29.4%
2025
17%
2025
Consumer prices inflation
-0.14%
2024-2025
14.2%
2024-2025
Central bank interest rate
4.25%
2025
14%
2026
Unemployment rate
0.89%
2015
3.97%
2024
Population
1649267
36032857

Spending and national debt comparison by year

Bahrain
Spending

Debt
Ghana
Spending

Debt
1x
Year % of GDP
Bahrain Ghana
Government spending Government debt Government spending Government debt
2025 29.4% 147.6% 17% 48.8%
2024 28.9% 133.7% 22% 70.3%
2023 29% 123% 18.5% 79.1%
2022 28.4% 111.6% 27.5% 92.7%
2021 30.6% 122.3% 27.2% 86.9%
2020 34.6% 125.7% 31.5% 79.1%
2019 31.2% 97.1% 22.5% 62.9%
2018 32.1% 90.4% 20.9% 62%
2017 30.7% 84% 17.6% 57%
2016 33.3% 77.4% 19.9% 55.9%
2015 34.8% 63.2% 18.6% 53.9%
2014 27.3% 42.6% 21% 50.1%
2013 32% 42.3% 21.6% 42.9%
2012 31.1% 34.8% 22.1% 35.5%
2011 30.2% 31.6% 19.5% 31.2%
2010 31.1% 28.8% 19% 32.9%
2009 24.6% 20.5% 16.6% 25.4%
2008 22.7% 12.1% 16.6% 23.2%
2007 22.4% 15.7% 16.8% 21.1%
2006 23.1% 19.4% 14.4% 17.3%
2005 23.9% 23.2% 12.9% 31.7%
2004 25% 28.2% 13.7% 38.4%
2003 28.1% 31.1% 12.1% 49.3%
2002 30.6% 27.2% 10.7% 54.1%
2001 26.5% 25% 13.8% 57.8%
2000 22.2% 24.7% 12% 74.5%
1999 27.1% 24.7% 11.1% 51.7%
1998 25.7% 20% 11.8% 37.6%
1997 31% 14.8% 12% 45.2%
1996 22.7% 13.1% 12.4% 42.9%
1995 25.1% 13.6% 13% 47.6%
1994 26.1% 5.62% 12.7% 50.6%
1993 26.7% 5.95% 12.1% 34.1%
1992 29.4% 6.45% 9.2% 21.3%
1991 28.5% 6.71% 7.09% 17.3%
1990 32.4% 7.24% 6.59% 17.8%
1989 - - 7.24% 23%
1988 - - 7.23% 23.5%
1987 - - 7.32% 26.8%
1986 - - 7.29% 18.2%
1985 - - 6.08% 14.4%
1984 - - 4.64% 13%
1983 - - 3.49% 9.21%
1982 - - 4.73% 8.51%
1981 - - 5.74% 8.77%
1980 - - 7.51% 9.75%
1979 - - 9.14% 11.5%
1978 - - 6.54% 11.4%
1977 - - 10.5% 20.7%
1976 - - 12.8% 26%
1975 - - 13.2% 21.8%
1974 - - 9.52% 21.8%
1973 - - 9.35% 25.4%
1972 - - 11.4% 29.8%
1971 - - 11.7% 29.5%
1970 - - 12.2% 31.9%
1969 - - 11.2% 31.4%
1968 - - 12.3% 34.5%
1967 - - 11.5% 33.9%
1966 - - 9.12% 29.8%
1965 - - 14.2% 30.2%
1964 - - 15.8% 30.8%
1963 - - 15.3% 30.5%
1962 - - 12.5% 11.8%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-07-08).

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

In 2025, Bahrain's government spending was $14.4B, accounting for 29.4% of its GDP, while Ghana spent $19.4B, or 17% of GDP.

Debt-to-GDP ratio is 147.6% in Bahrain and 48.8% in Ghana, ranking 6/185 and 108/185, respectively.

Government deficit by year

Deficit/surplus
Bahrain

Ghana
1x
Year Deficit/surplus, % of GDP
Bahrain Ghana
2025 -13% -1.35%
2024 -11% -6.23%
2023 -9.66% -3.37%
2022 -6.03% -11.8%
2021 -10.6% -12%
2020 -17.3% -17.4%
2019 -8.57% -7.52%
2018 -11.3% -6.79%
2017 -13.4% -3.97%
2016 -16.6% -6.75%
2015 -17.5% -4.01%
2014 -3.32% -7.81%
2013 -8.55% -9.12%
2012 -5.77% -8.36%
2011 -4.9% -5.47%
2010 -9.29% -7.13%
2009 -5.36% -5.05%
2008 4.08% -5.56%
2007 1.52% -4.91%
2006 2.24% -3.11%
2005 2.8% -1.87%
2004 0.24% -2.02%
2003 -1.7% -1.99%
2002 -3.27% -2.73%
2001 0.7% -3.64%
2000 7.33% -3.98%
1999 -4.85% -5.64%
1998 -5.49% -5.27%
1997 -6.39% -6.14%
1996 0.24% -5.61%
1995 -3.99% -4.52%
1994 -5.18% -4.99%
1993 -2.77% -5.39%
1992 -5.41% -4.5%
1991 -3.47% -1.47%
1990 -6.79% -1.93%
1989 - -0.81%
1988 - -1.08%
1987 - -0.92%
1986 - -1.26%
1985 - -1.19%
1984 - -0.98%
1983 - -1.13%
1982 - -2.03%
1981 - -3.8%
1980 - -4.73%
1979 - -3.61%
1978 - -1.21%
1977 - -4.68%
1976 - -5.53%
1975 - -4.05%
1974 - -2.06%
1973 - -2.64%
1972 - -2.19%
1971 - 0.13%
1970 - -2.35%
1969 - -2.67%
1968 - -2.34%
1967 - -2.32%
1966 - -1.29%
1965 - -3.29%
1964 - -3.72%
1963 - -5.66%
1962 - -5.04%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-07-08).

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

In 2025, Bahrain's government deficit, the difference between spending and revenue, was $6.35B, equivalent to 13% of GDP. This compares to Ghana's deficit of $1.54B, or 1.35% of GDP.

Over the past 36 years, Bahrain recorded a fiscal deficit in 28 of those years, while Ghana ran a deficit in 36 years. On average, Bahrain posted an annual deficit equal to 5.61% of GDP, compared to deficit of 5.54% of GDP for Ghana.

Inflation comparison by year

Inflation
Bahrain

Ghana
1x
Year Consumer prices inflation
Bahrain Ghana
2025 -0.14% 14.2%
2024 0.92% 22.8%
2023 0.07% 38.1%
2022 3.63% 31.3%
2021 -0.61% 9.97%
2020 -2.32% 9.89%
2019 1.01% 7.14%
2018 2.09% 7.81%
2017 1.39% 12.4%
2016 2.79% 17.5%
2015 1.85% 17.1%
2014 2.65% 15.5%
2013 3.3% 11.7%
2012 2.76% 11.2%
2011 -0.4% 8.73%
2010 1.96% 10.7%
2009 2.8% 19.2%
2008 3.53% 16.5%
2007 3.26% 10.7%
2006 2.01% 11.7%
2005 2.59% 15.4%
2004 2.35% 18%
2003 1.59% 29.8%
2002 -0.5% 9.36%
2001 -1.21% 41.5%
2000 -0.7% 40.2%
1999 -1.29% 4.87%
1998 -0.37% 14.6%
1997 2.43% 27.9%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Bahrain has recorded an average annual inflation rate of 1.29%, compared with 17.4% in Ghana. In 2025, inflation was -0.14% in Bahrain and 14.2% in Ghana.

Top exports between countries

Bahrain
Export category Export value
Metals $831K
Machinery & equipment $394K
Chemicals & pharma $129K
Raw materials & minerals $123K
Wood & paper products $114K
Miscellaneous $53K
Textiles & consumer goods $20K
Ghana
Export category Export value
Machinery & equipment $111K
Wood & paper products $25K
Textiles & consumer goods $21K
Metals $17K
Raw agricultural goods $13K
Chemicals & pharma $1K

Balance of trade

Bahrain Ghana
Current account balance
$2.28B
2024
$9.39B
2025
Current account balance ranking
43/190
2024
25/190
2025
Current account balance, % of GDP
+4.83%
2024
+8.22%
2025
Goods imports
$20.7B
2024
$17.5B
2025
Goods exports
$24.3B
2024
$31.2B
2025
Service imports
$12.4B
2024
$14.6B
2025
Service exports
$17B
2024
$10.1B
2025
Imports of goods and services, % of GDP
70%
2024
33.9%
2024
Exports of goods and services, % of GDP
87.5%
2024
35.1%
2024

Economic freedom indices

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

Bahrain Ghana
Economic freedom 65.7 57.3
Economic freedom ranking 63/197 118/197
Property rights 60.9 50.2
Government integrity 45.9 45.4
Judicial effectiveness 30 57.5
Tax burden 99.9 79.4
Government spending 75 84
Fiscal health 0 10.1
Business freedom 75.9 64.5
Labor freedom 55.5 54.9
Monetary freedom 88.8 56.7
Trade freedom 86.8 65.2
Investment freedom 90 60
Financial freedom 80 60

Economic freedom comparison by year

Bahrain
Ghana
1x
Year Economic freedom index
Bahrain Ghana
2026 65.7 57.3
2025 65.6 56
2024 63.4 55.8
2023 62.5 58
2022 62 59.8
2021 69.9 59.2
2020 66.3 59.4
2019 66.4 57.5
2018 67.7 56
2017 68.5 56.2
2016 74.3 63
2015 73.4 63
2014 75.1 64.2
2013 75.5 61.3
2012 75.2 60.7
2011 77.7 59.4
2010 76.3 60.2
2009 74.8 58.1
2008 72.2 57
2007 71.2 57.6
2006 71.6 55.6
2005 71.2 56.5
2004 75.1 59.1
2003 76.3 58.2
2002 75.6 57.2
2001 75.9 58
2000 75.7 58.1
1999 75.2 57.9
1998 75.6 57
1997 76.1 56.7
1996 76.4 57.7
1995 76.2 55.6

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Bahrain is 65.7, ranking 63/197, compared to 57.3 for Ghana, ranking 118/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahrain Ghana
Services, % of GDP
54.3%
2025
42.9%
2025
Industry, % of GDP
41.2%
2025
29.3%
2025
Agriculture, forestry, and fishing, % of GDP
0.24%
2025
21.3%
2025
GNI, Atlas method
$46.1B
2025
$92.3B
2025
GNI per capita, PPP
$65,500
2025
$8,080
2025
Total reserves including gold
$5.27B
2025
$4.47B
2024
Total reserves ranking
101/177
2025
108/177
2024
Net foreign direct investment
-$2.43B
2024
-$1.87B
2025
Net inflows of foreign direct investment
$2.7B
2024
$1.77B
2024
Net outflows of foreign direct investment
$275M
2024
$5.37M
2024
Servicing debt to the IMF, % of GNI n/a
3.5%
2024
Poverty at national poverty lines n/a
23.4%
2016
Gross capital formation, % of GDP
28.4%
2024
9.9%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2022–2024, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.