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Economy of Bahrain vs Iraq compared: GDP & Debt

Updated on by Georank

Bahrain has a GDP of $49B compared to $254B for Iraq, ranking 98/197 and 54/197 by economy size, respectively.

Bahrain has $72.3B in government debt (147.6% of GDP), compared to $137B (53.9% of GDP) in Iraq.

Bahrain vs Iraq GDP by year

Bahrain
Iraq
1x
Year GDP, current $
Bahrain Iraq
2025 $48,965,725,532 $254,367,293,538
2024 $47,210,732,713 $279,641,257,615
2023 $46,192,260,638 $268,881,051,644
2022 $46,458,191,489 $287,372,232,138
2021 $40,840,212,766 $209,691,945,713
2020 $35,837,632,979 $180,898,797,517
2019 $40,446,808,511 $233,636,097,800
2018 $39,567,978,723 $227,367,469,034
2017 $37,204,813,830 $187,217,660,051
2016 $33,884,680,851 $166,743,557,748
2015 $32,523,297,872 $166,774,104,959
2014 $34,772,526,596 $228,415,656,175
2013 $33,823,324,468 $234,637,675,129
2012 $31,963,404,255 $218,002,476,129
2011 $29,914,680,851 $185,749,664,444
2010 $26,805,984,043 $138,516,722,650
2009 $22,938,218,085 $111,657,580,326
2008 $25,710,904,255 $131,614,434,154
2007 $21,730,000,000 $88,837,057,320
2006 $18,504,760,638 $65,147,051,918
2005 $15,968,723,404 $50,065,104,668
2004 $13,150,159,574 $36,633,669,269
2003 $11,074,813,830 $21,921,569,479
2002 $9,593,510,638 $32,928,454,672
2001 $8,976,196,809 $36,176,430,129
2000 $9,062,898,936 $48,364,250,944
1999 $7,528,469,149 $36,881,601,584
1998 $7,031,309,043 $20,617,405,044
1997 $7,219,407,713 $20,764,857,056
1996 $6,938,166,755 $10,433,698,621
1995 $6,651,180,851 $12,894,029,888
1994 $6,330,627,926 $3,991,349,283
1993 $5,913,001,064 $1,031,944,881
1992 $5,402,232,447 $553,671,958
1991 $5,248,911,170 $407,796,350
1990 $4,809,511,005 $180,408,064,516
1989 $4,393,093,963 $65,831,935,484
1988 $4,209,834,173 $62,684,516,129
1987 $3,856,922,694 $56,774,193,548
1986 $3,470,746,843 $47,264,516,129
1985 $4,152,376,484 $48,425,161,290
1984 $4,440,874,566 $46,938,387,097
1983 $4,247,030,468 $40,712,903,226
1982 $4,145,421,080 $42,382,333,333
1981 $3,943,109,532 $37,823,000,000
1980 $3,493,834,468 $52,569,000,000
1979 $2,710,160,739 $37,816,457,839
1978 $2,272,042,965 $23,762,275,652
1977 $1,989,060,283 $19,838,130,715
1976 $1,581,709,519 $17,754,825,601
1975 $1,099,107,601 $13,458,516,763
1974 $1,042,176,884 $11,516,762,614
1973 $761,132,545 $5,134,367,778
1972 $534,081,184 $4,113,848,002
1971 $422,181,562 $3,865,346,535
1970 $391,577,364 $3,281,318,687
1969 - $3,007,758,797
1968 - $2,896,598,841
1967 - $2,551,522,656
1966 - $2,530,306,096
1965 - $2,335,785,506
1964 - $2,136,408,198
1963 - $1,805,901,510
1962 - $1,784,174,541
1961 - $1,671,960,965
1960 - $1,537,252,193

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

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

GDP per capita in Bahrain vs Iraq by year

Bahrain
GDP per capita

GDP per capita, PPP
Iraq
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahrain Iraq
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $30,597 - $5,410 -
2024 $29,717 $66,941 $6,074 $14,464
2023 $29,290 $64,171 $5,965 $14,653
2022 $30,471 $61,678 $6,521 $14,391
2021 $27,148 $54,955 $4,868 $12,732
2020 $24,343 $53,436 $4,295 $10,574
2019 $27,260 $56,600 $5,672 $12,249
2018 $26,324 $51,993 $5,647 $12,034
2017 $24,785 $50,185 $4,759 $10,192
2016 $23,800 $47,429 $4,334 $9,079
2015 $23,734 $48,034 $4,440 $9,334
2014 $26,452 $54,299 $6,249 $13,168
2013 $26,990 $56,310 $6,650 $14,669
2012 $26,439 $56,713 $6,478 $14,402
2011 $25,033 $52,677 $5,776 $12,912
2010 $21,819 $49,255 $4,462 $12,186
2009 $19,465 $48,626 $3,715 $11,687
2008 $23,299 $50,330 $4,543 $11,657
2007 $20,908 $49,347 $3,129 $10,783
2006 $19,267 $48,009 $2,277 $10,223
2005 $17,966 $47,268 $1,762 $9,457
2004 $15,964 $46,317 $1,328 $9,290
2003 $14,486 $45,427 $818 $6,068
2002 $13,501 $45,091 $1,266 $9,682
2001 $13,573 $46,162 $1,436 $10,720
2000 $14,214 $45,688 $1,980 $10,628
1999 $12,123 $43,561 $1,560 $9,194
1998 $11,625 $42,281 $901 $7,964
1997 $12,255 $40,965 $936 $6,020
1996 $12,092 $40,106 $485 $5,034
1995 $11,901 $38,839 $619 $4,598
1994 $11,629 $37,579 $198.2 $4,560
1993 $11,152 $37,870 $53.7 $4,509
1992 $10,460 $33,648 $30.3 $3,547
1991 $10,434 $31,657 $23 $2,694
1990 $9,343 $26,902 $10,261 -
1989 $8,833 - $3,791 -
1988 $8,772 - $3,707 -
1987 $8,333 - $3,436 -
1986 $7,777 - $2,940 -
1985 $9,649 - $3,088 -
1984 $10,697 - $3,066 -
1983 $10,599 - $2,743 -
1982 $10,712 - $2,942 -
1981 $10,557 - $2,700 -
1980 $9,733 - $3,868 -
1979 $7,891 - $2,871 -
1978 $6,926 - $1,863 -
1977 $6,358 - $1,609 -
1976 $5,310 - $1,489 -
1975 $3,880 - $1,166 -
1974 $3,874 - $1,031 -
1973 $2,981 - $476 -
1972 $2,206 - $394 -
1971 $1,830 - $384 -
1970 $1,742 - $337 -
1969 - - $320 -
1968 - - $319 -
1967 - - $290.6 -
1966 - - $298.2 -
1965 - - $284.8 -
1964 - - $269.4 -
1963 - - $235.5 -
1962 - - $240.7 -
1961 - - $232.4 -
1960 - - $218.9 -

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

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

Bahrain's GDP per capita is $30,597, ranking 44/197, compared to $5,410 in Iraq, ranking 119/197. Adjusted for purchasing power (GDP per capita PPP), Bahrain ranks 26th at $66,941, while Iraq ranks 115th at $14,464.

Economic indicators

Bahrain Iraq
Gross domestic product
$49B
2025
$254B
2025
GDP rank
98/197
2025
54/197
2025
GDP growth
3.48%
2024-2025
-2.16%
2024-2025
GDP per capita
$30,597
2025
$5,410
2025
GDP per capita rank
44/197
2025
119/197
2025
GDP per capita, PPP
$66,941
2024
$14,464
2024
GDP per capita PPP rank
26/197
2024
115/197
2024
Government debt
$72.3B
2025
$137B
2025
Debt-to-GDP ratio
147.6%
2025
53.9%
2025
Government debt per person
$45,165
2025
$2,917
2025
Government debt per person rank
13/185
2025
108/185
2025
Average annual personal income after taxes
$23,191
2026
$6,782
2026
Market capitalization of domestic companies
$21.3B
2025
n/a
Income share by richest 10% n/a
24.2%
2023
Income share by poorest 10% n/a
3.7%
2023
Government expenditure, % of GDP
29.4%
2025
42.7%
2025
Consumer prices inflation
-0.14%
2024-2025
0.3%
2024-2025
Central bank interest rate
4.25%
2025
n/a
Unemployment rate
0.89%
2015
16.2%
2021
Population
1649267
48531417

Spending and national debt comparison by year

Bahrain
Spending

Debt
Iraq
Spending

Debt
1x
Year % of GDP
Bahrain Iraq
Government spending Government debt Government spending Government debt
2025 29.4% 147.6% 42.7% 53.9%
2024 28.9% 133.7% 41.7% 45.2%
2023 29% 123% 41.2% 42.1%
2022 28.4% 111.6% 33.9% 39%
2021 30.6% 122.3% 36.3% 54.7%
2020 34.6% 125.7% 41.9% 72.5%
2019 31.2% 97.1% 34.7% 41.7%
2018 32.1% 90.4% 31.1% 44.4%
2017 30.7% 84% 35.5% 55.9%
2016 33.3% 77.4% 42.4% 60.3%
2015 34.8% 63.2% 43.5% 48.3%
2014 27.3% 42.6% 43.8% 27.6%
2013 32% 42.3% 48.2% 32%
2012 31.1% 34.8% 42.9% 34.8%
2011 30.2% 31.6% 43.4% 40.7%
2010 31.1% 28.8% 49.6% 53.5%
2009 24.6% 20.5% 61.1% 87.4%
2008 22.7% 12.1% 57.3% 74.2%
2007 22.4% 15.7% 44% 117.1%
2006 23.1% 19.4% 50.3% 143.2%
2005 23.9% 23.2% 63.2% 227.3%
2004 25% 28.2% 91.5% 344%
2003 28.1% 31.1% - -
2002 30.6% 27.2% - -
2001 26.5% 25% - -
2000 22.2% 24.7% - -
1999 27.1% 24.7% - -
1998 25.7% 20% - -
1997 31% 14.8% - -
1996 22.7% 13.1% - -
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 (1990–2025, retrieved 2026-07-08).

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

In 2025, Bahrain's government spending was $14.4B, accounting for 29.4% of its GDP, while Iraq spent $109B, or 42.7% of GDP.

Debt-to-GDP ratio is 147.6% in Bahrain and 53.9% in Iraq, ranking 6/185 and 95/185, respectively.

Government deficit by year

Deficit/surplus
Bahrain

Iraq
1x
Year Deficit/surplus, % of GDP
Bahrain Iraq
2025 -13% -6.41%
2024 -11% -3.45%
2023 -9.66% -1.14%
2022 -6.03% 8.1%
2021 -10.6% -0.38%
2020 -17.3% -12.8%
2019 -8.57% 0.83%
2018 -11.3% 7.69%
2017 -13.4% -1.52%
2016 -16.6% -14.4%
2015 -17.5% -12.8%
2014 -3.32% -5.63%
2013 -8.55% -6.06%
2012 -5.77% 4.09%
2011 -4.9% 4.74%
2010 -9.29% -4.18%
2009 -5.36% -14.9%
2008 4.08% -0.86%
2007 1.52% 9.98%
2006 2.24% 10.7%
2005 2.8% 4.07%
2004 0.24% -35.4%
2003 -1.7% -
2002 -3.27% -
2001 0.7% -
2000 7.33% -
1999 -4.85% -
1998 -5.49% -
1997 -6.39% -
1996 0.24% -
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 (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/bahrain/iraq | 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 Iraq's deficit of $16.3B, or 6.41% of GDP.

Over the past 22 years, Bahrain recorded a fiscal deficit in 17 of those years, while Iraq ran a deficit in 14 years. On average, Bahrain posted an annual deficit equal to 7.32% of GDP, compared to deficit of 3.17% of GDP for Iraq.

Inflation comparison by year

Inflation
Bahrain

Iraq
1x
Year Consumer prices inflation
Bahrain Iraq
2025 -0.14% 0.3%
2024 0.92% 2.61%
2023 0.07% 4.36%
2022 3.63% 4.99%
2021 -0.61% 6.04%
2020 -2.32% 0.57%
2019 1.01% -0.2%
2018 2.09% 0.37%
2017 1.39% 0.18%
2016 2.79% 0.56%
2015 1.85% 1.39%
2014 2.65% 2.24%
2013 3.3% 1.88%
2012 2.76% 6.09%
2011 -0.4% 5.6%
2010 1.96% 2.43%
2009 2.8% 6.87%
2008 3.53% 12.7%
2007 3.26% -10.1%
2006 2.01% 53.2%
2005 2.59% 37%
2004 2.35% 27%
2003 1.59% 33.6%
2002 -0.5% 19.3%
2001 -1.21% 16.4%
2000 -0.7% 4.98%
1999 -1.29% 12.6%
1998 -0.37% 14.8%
1997 2.43% 23.1%

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

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

Over the past 29 years, Bahrain has recorded an average annual inflation rate of 1.29%, compared with 10% in Iraq. In 2025, inflation was -0.14% in Bahrain and 0.3% in Iraq.

Top exports between countries

Bahrain
Export category Export value
Animal & marine products $23M
Chemicals & pharma $11.2M
Processed food, beverages & tobacco $7.77M
Machinery & equipment $6.92M
Metals $5.84M
Raw materials & minerals $4.27M
Textiles & consumer goods $384K
Wood & paper products $360K
Raw agricultural goods $98K
Miscellaneous $71K
Iraq
Export category Export value

Balance of trade

Bahrain Iraq
Current account balance
$2.28B
2024
$8.37B
2024
Current account balance ranking
43/190
2024
27/190
2024
Current account balance, % of GDP
+4.83%
2024
+2.99%
2024
Goods imports
$20.7B
2024
$74.3B
2024
Goods exports
$24.3B
2024
$101B
2024
Service imports
$12.4B
2024
$30.2B
2024
Service exports
$17B
2024
$10.2B
2024
Imports of goods and services, % of GDP
70%
2024
37.4%
2024
Exports of goods and services, % of GDP
87.5%
2024
39.8%
2024

Economic freedom indices

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

Bahrain Iraq
Economic freedom 65.7 15.6
Economic freedom ranking 63/197 196/197
Property rights 60.9 8.3
Government integrity 45.9 20.2
Judicial effectiveness 30 5.8
Tax burden 99.9 85.5
Government spending 75 65.3
Fiscal health 0 95.7
Business freedom 75.9 42.8
Labor freedom 55.5 60.6
Monetary freedom 88.8 68.6
Trade freedom 86.8 40
Investment freedom 90 10
Financial freedom 80 10

Economic freedom comparison by year

Bahrain
Iraq
1x
Year Economic freedom index
Bahrain Iraq
2026 65.7 -
2025 65.6 -
2024 63.4 -
2023 62.5 -
2022 62 -
2021 69.9 -
2020 66.3 -
2019 66.4 -
2018 67.7 -
2017 68.5 -
2016 74.3 -
2015 73.4 -
2014 75.1 -
2013 75.5 -
2012 75.2 -
2011 77.7 -
2010 76.3 -
2009 74.8 -
2008 72.2 -
2007 71.2 -
2006 71.6 -
2005 71.2 -
2004 75.1 -
2003 76.3 -
2002 75.6 15.6
2001 75.9 17.2
2000 75.7 17.2
1999 75.2 17.2
1998 75.6 17.2
1997 76.1 17.2
1996 76.4 17.2
1995 76.2 -

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

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

The Economic Freedom Index for Bahrain is 65.7, ranking 63/197, compared to 15.6 for Iraq, ranking 196/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahrain Iraq
Services, % of GDP
54.3%
2025
52.3%
2025
Industry, % of GDP
41.2%
2025
45.4%
2025
Agriculture, forestry, and fishing, % of GDP
0.24%
2025
3.41%
2025
GNI, Atlas method
$46.1B
2025
$267B
2025
GNI per capita, PPP
$65,500
2025
$14,290
2025
Total reserves including gold
$5.27B
2025
$101B
2024
Total reserves ranking
101/177
2025
30/177
2024
Net foreign direct investment
-$2.43B
2024
$8.09B
2024
Net inflows of foreign direct investment
$2.7B
2024
-$7.65B
2024
Net outflows of foreign direct investment
$275M
2024
$439M
2024
Servicing debt to the IMF, % of GNI n/a
1.22%
2024
Poverty at national poverty lines n/a
17.5%
2023
Gross capital formation, % of GDP
28.4%
2024
19.1%
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/iraq | 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. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2024, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. 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.