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Economy of Bahrain vs Kuwait compared: GDP & Debt

Updated on by Georank team

Bahrain has a GDP of $47.1B compared to $160B for Kuwait, ranking 96/197 and 59/197 by economy size, respectively.

Bahrain has $62.8B in government debt (133.4% of GDP), compared to $4.68B (2.92% of GDP) in Kuwait.

Bahrain vs Kuwait GDP by year

Bahrain
Kuwait
1x
Year GDP, current $
Bahrain Kuwait
2024 $47,109,734,309 $160,227,273,053
2023 $46,192,260,638 $165,384,407,116
2022 $46,458,191,489 $183,502,046,694
2021 $40,840,212,766 $148,350,671,489
2020 $35,837,632,979 $111,045,470,606
2019 $40,446,808,511 $140,856,394,861
2018 $39,567,978,723 $138,646,316,351
2017 $37,204,813,830 $120,687,539,806
2016 $33,884,680,851 $109,406,674,125
2015 $32,523,297,872 $114,585,555,689
2014 $34,772,526,596 $162,650,450,685
2013 $33,823,324,468 $174,168,116,535
2012 $31,963,404,255 $174,047,662,680
2011 $29,914,680,851 $154,039,231,246
2010 $26,805,984,043 $115,416,245,242
2009 $22,938,218,085 $105,968,691,905
2008 $25,710,904,255 $147,379,737,230
2007 $21,730,000,000 $114,634,043,362
2006 $18,504,760,638 $101,557,330,723
2005 $15,968,723,404 $80,798,630,137
2004 $13,150,159,574 $59,439,090,601
2003 $11,074,813,830 $47,874,582,232
2002 $9,593,510,638 $38,135,788,414
2001 $8,976,196,809 $34,889,559,870
2000 $9,062,898,936 $37,718,743,480
1999 $7,528,469,149 $30,122,365,849
1998 $7,031,309,043 $25,943,705,784
1997 $7,219,407,713 $30,350,190,704
1996 $6,938,166,755 $31,492,373,309
1995 $6,651,180,851 $27,186,980,647
1994 $6,330,627,926 $24,848,483,838
1993 $5,913,001,064 $23,941,391,391
1992 $5,402,232,447 $19,858,555,215
1991 $5,248,911,170 $11,009,993,703
1990 $4,809,511,005 $18,427,777,778
1989 $4,393,093,963 $24,313,855,653
1988 $4,209,834,173 $20,690,322,153
1987 $3,856,922,694 $22,368,704,134
1986 $3,470,746,843 $17,903,989,745
1985 $4,152,376,484 $21,445,970,614
1984 $4,440,874,566 $21,700,082,753
1983 $4,247,030,468 $20,871,081,080
1982 $4,145,421,080 $21,577,153,356
1981 $3,943,109,532 $25,058,020,338
1980 $3,493,834,468 $28,638,868,356
1979 $2,710,160,739 $24,749,063,922
1978 $2,272,042,965 $15,503,557,496
1977 $1,989,060,283 $14,137,406,741
1976 $1,581,709,519 $13,132,252,802
1975 $1,099,107,601 $12,022,811,621
1974 $1,042,176,884 $13,006,948,296
1973 $761,132,545 $5,408,804,607
1972 $534,081,184 $4,450,537,925
1971 $422,181,562 $3,880,392,195
1970 $391,577,364 $2,873,638,851
1969 - $2,769,198,892
1968 - $2,662,798,935
1967 - $2,441,599,023
1966 - $2,391,199,044
1965 - $2,097,199,161
1964 - $2,071,668,533
1963 - $1,900,895,857
1962 - $1,828,107,503

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

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

GDP per capita in Bahrain vs Kuwait by year

Bahrain
GDP per capita

GDP per capita, PPP
Kuwait
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahrain Kuwait
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $29,654 $66,941 $32,718 $52,444
2023 $29,290 $64,171 $34,076 $53,025
2022 $30,471 $61,678 $39,982 $55,043
2021 $27,148 $54,955 $34,019 $50,652
2020 $24,343 $53,436 $25,236 $41,462
2019 $27,260 $56,600 $31,708 $50,703
2018 $26,324 $51,993 $32,068 $51,371
2017 $24,785 $50,185 $29,048 $46,566
2016 $23,800 $47,429 $27,324 $41,862
2015 $23,734 $48,034 $29,882 $45,267
2014 $26,452 $54,299 $44,369 $68,337
2013 $26,990 $56,310 $49,651 $76,813
2012 $26,439 $56,713 $52,155 $82,090
2011 $25,033 $52,677 $49,170 $79,037
2010 $21,819 $49,255 $39,212 $75,184
2009 $19,465 $48,626 $37,907 $80,110
2008 $23,299 $50,330 $55,585 $90,337
2007 $20,908 $49,347 $45,709 $91,435
2006 $19,267 $48,009 $42,947 $89,075
2005 $17,966 $47,268 $36,123 $84,968
2004 $15,964 $46,317 $27,552 $77,227
2003 $14,486 $45,427 $22,691 $69,752
2002 $13,501 $45,091 $18,513 $59,713
2001 $13,573 $46,162 $17,374 $58,553
2000 $14,214 $45,688 $19,296 $58,703
1999 $12,123 $43,561 $15,854 $56,406
1998 $11,625 $42,281 $14,067 $58,344
1997 $12,255 $40,965 $16,977 $57,420
1996 $12,092 $40,106 $18,201 $56,913
1995 $11,901 $38,839 $16,168 $57,163
1994 $11,629 $37,579 $14,930 $53,946
1993 $11,152 $37,870 $14,318 $48,482
1992 $10,460 $33,648 $12,146 $36,149
1991 $10,434 $31,657 $8,147 $23,390
1990 $9,343 $26,902 $10,938 $30,763
1989 $8,833 - $10,965 -
1988 $8,772 - $9,692 -
1987 $8,333 - $10,896 -
1986 $7,777 - $9,077 -
1985 $9,649 - $11,322 -
1984 $10,697 - $11,919 -
1983 $10,599 - $11,965 -
1982 $10,712 - $12,979 -
1981 $10,557 - $15,825 -
1980 $9,733 - $19,032 -
1979 $7,891 - $17,386 -
1978 $6,926 - $11,567 -
1977 $6,358 - $11,238 -
1976 $5,310 - $11,141 -
1975 $3,880 - $10,882 -
1974 $3,874 - $12,527 -
1973 $2,981 - $5,532 -
1972 $2,206 - $4,836 -
1971 $1,830 - $4,486 -
1970 $1,742 - $3,552 -
1969 - - $3,695 -
1968 - - $3,872 -
1967 - - $3,887 -
1966 - - $4,176 -
1965 - - $4,024 -
1964 - - $4,379 -
1963 - - $4,445 -
1962 - - $4,748 -

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

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

Bahrain's GDP per capita is $29,654, ranking 42/197, compared to $32,718 in Kuwait, ranking 37/197. Adjusted for purchasing power (GDP per capita PPP), Bahrain ranks 26th at $66,941, while Kuwait ranks 40th at $52,444.

Economic indicators

Bahrain Kuwait
Gross domestic product
$47.1B
2024
$160B
2024
GDP rank
96/197
2024
59/197
2024
GDP growth
2.6%
2023-2024
-2.56%
2023-2024
GDP per capita
$29,654
2024
$32,718
2024
GDP per capita rank
42/197
2024
37/197
2024
GDP per capita, PPP
$66,941
2024
$52,444
2024
GDP per capita PPP rank
26/197
2024
40/197
2024
Government debt
$62.8B
2024
$4.68B
2024
Debt-to-GDP ratio
133.4%
2024
2.92%
2024
Government debt per person
$39,552
2024
$956
2024
Government debt per person rank
14/185
2024
143/185
2024
Average annual personal income after taxes
$23,253
2026
$23,828
2026
Market capitalization of domestic companies
$20.4B
2024
$141B
2024
Government expenditure, % of GDP
29.1%
2024
50.4%
2024
Consumer prices inflation
0.92%
2023-2024
2.9%
2023-2024
Central bank interest rate
4.25%
2025
3.5%
2025
Unemployment rate
1.2%
2012
2.16%
2016
Population
1669503
5100145

Spending and national debt comparison by year

Bahrain
Spending

Debt
Kuwait
Spending

Debt
1x
Year % of GDP
Bahrain Kuwait
Government spending Government debt Government spending Government debt
2024 29.1% 133.4% 50.4% 2.92%
2023 29.1% 123% 48.3% 3.13%
2022 28.4% 111.6% 39.6% 2.95%
2021 30.6% 122.3% 48.3% 7.2%
2020 34.6% 125.7% 62.9% 10.2%
2019 31.2% 97.1% 50.3% 10.5%
2018 32.1% 90.4% 51.1% 14.3%
2017 30.7% 84% 51.9% 19.6%
2016 33.3% 77.4% 54.1% 9.88%
2015 34.8% 63.2% 55.4% 4.6%
2014 27.3% 42.6% 45% 3.43%
2013 32% 42.3% 38.4% 3.09%
2012 31.1% 34.8% 38.2% 3.6%
2011 30.2% 31.6% 39.7% 4.64%
2010 31.1% 28.8% 45.5% 6.16%
2009 24.6% 20.5% 42.9% 6.65%
2008 22.7% 12.1% 40.9% 5.38%
2007 22.4% 15.7% 30.4% 7.05%
2006 23.1% 19.4% 32.3% 7.79%
2005 23.9% 23.2% 28.8% 10.2%
2004 25% 28.2% 35.3% 13.9%
2003 28.1% 31.1% 38.2% 17.2%
2002 30.6% 27.2% 42.8% 21.3%
2001 26.5% 25% 41.4% 23%
2000 22.2% 24.7% 29.9% 21.4%
1999 27.1% 24.7% 44.5% 25.5%
1998 25.7% 20% 51.7% 25.6%
1997 31% 14.8% 43.8% 24.3%
1996 22.7% 13.1% 42.8% 26.5%
1995 25.1% 13.6% 52% 34.9%
1994 26.1% 5.62% 57.8% 37.7%
1993 26.7% 5.95% 58.2% 28.8%
1992 29.4% 6.45% 77.6% 27.9%
1991 28.5% 6.71% 208.9% 45.3%
1990 32.4% 7.24% 122.9% -

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

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

In 2024, Bahrain's government spending was $13.7B, accounting for 29.1% of its GDP, while Kuwait spent $80.8B, or 50.4% of GDP.

Debt-to-GDP ratio is 133.4% in Bahrain and 2.92% in Kuwait, ranking 9/185 and 184/185, respectively.

Government deficit by year

Deficit/surplus
Bahrain

Kuwait
1x
Year Deficit/surplus, % of GDP
Bahrain Kuwait
2024 -10.6% 23.8%
2023 -9.67% 28.2%
2022 -6.02% 30%
2021 -10.6% 9.98%
2020 -17.3% 0.14%
2019 -8.57% 13%
2018 -11.3% 17.5%
2017 -13.4% 15.3%
2016 -16.6% 13.1%
2015 -17.5% 16.6%
2014 -3.32% 30%
2013 -8.55% 40.6%
2012 -5.77% 40.7%
2011 -4.9% 38.8%
2010 -9.29% 31.9%
2009 -5.36% 31.3%
2008 4.08% 21.3%
2007 1.52% 37.1%
2006 2.24% 28%
2005 2.8% 38.9%
2004 0.24% 32.5%
2003 -1.7% 27.2%
2002 -3.27% 31%
2001 0.7% 45.2%
2000 7.33% 52.5%
1999 -4.85% 28.2%
1998 -5.49% 19.5%
1997 -6.39% 29.5%
1996 0.24% 24.3%
1995 -3.99% 11.7%
1994 -5.18% 1.76%
1993 -2.77% -3.12%
1992 -5.41% -28.1%
1991 -3.47% -145%
1990 -6.79% -50%

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

GeoRank.org/economy/bahrain/kuwait | 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 Kuwait's surplus of $38.1B, or 23.8% of GDP.

Over the past 35 years, Bahrain recorded a fiscal deficit in 27 of those years, while Kuwait ran a deficit in 4 years. On average, Bahrain posted an annual deficit equal to 5.39% of GDP, compared to surplus of 16.7% of GDP for Kuwait.

Inflation comparison by year

Inflation
Bahrain

Kuwait
1x
Year Consumer prices inflation
Bahrain Kuwait
2024 0.92% 2.9%
2023 0.07% 3.64%
2022 3.63% 3.98%
2021 -0.61% 3.42%
2020 -2.32% 2.1%
2019 1.01% 1.09%
2018 2.09% 0.54%
2017 1.39% 2.17%
2016 2.79% 3.2%
2015 1.85% 3.27%
2014 2.65% 2.91%
2013 3.3% 2.68%
2012 2.76% 3.26%
2011 -0.4% 4.84%
2010 1.96% 4.5%
2009 2.8% 4.61%
2008 3.53% 10.6%
2007 3.26% 5.48%
2006 2.01% 3.06%
2005 2.59% 4.14%
2004 2.35% 1.25%
2003 1.59% 0.96%
2002 -0.5% 0.89%
2001 -1.21% 1.3%
2000 -0.7% 1.81%
1999 -1.29% 2.99%
1998 -0.37% 0.13%
1997 2.43% 0.68%

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

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

Over the past 28 years, Bahrain has recorded an average annual inflation rate of 1.34%, compared with 2.94% in Kuwait. In 2024, inflation was 0.92% in Bahrain and 2.9% in Kuwait.

Top exports between countries

Bahrain
Export category Export value
Metals $126M
Processed food, beverages & tobacco $37.6M
Machinery & equipment $34.8M
Animal & marine products $33.5M
Textiles & consumer goods $32.1M
Chemicals & pharma $27.4M
Precious metals & jewellery $13.6M
Wood & paper products $4.57M
Miscellaneous $2.32M
Raw materials & minerals $1.66M
Kuwait
Export category Export value
Chemicals & pharma $20.1M
Metals $16.4M
Machinery & equipment $12M
Precious metals & jewellery $10.8M
Processed food, beverages & tobacco $9.23M
Textiles & consumer goods $8.37M
Animal & marine products $5.97M
Wood & paper products $2.6M
Raw agricultural goods $1.44M
Raw materials & minerals $1.09M

Balance of trade

Bahrain Kuwait
Current account balance
$2.28B
2024
$46.7B
2024
Current account balance ranking
44/190
2024
15/190
2024
Current account balance, % of GDP
+4.84%
2024
+29.1%
2024
Goods imports
$20.7B
2024
$33.4B
2024
Goods exports
$24.3B
2024
$77.5B
2024
Service imports
$12.4B
2024
$28.1B
2024
Service exports
$17B
2024
$12.2B
2024
Imports of goods and services, % of GDP
70.1%
2024
38.3%
2023
Exports of goods and services, % of GDP
87.7%
2024
57.7%
2023

Economic freedom indices

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

Bahrain Kuwait
Economic freedom 65.7 59.9
Economic freedom ranking 63/197 100/197
Property rights 60.9 42
Government integrity 45.9 47.9
Judicial effectiveness 30 43.4
Tax burden 99.9 97.7
Government spending 75 36.2
Fiscal health 0 99.9
Business freedom 75.9 57.4
Labor freedom 55.5 49.2
Monetary freedom 88.8 68.7
Trade freedom 86.8 75.8
Investment freedom 90 50
Financial freedom 80 50

Economic freedom comparison by year

Bahrain
Kuwait
1x
Year Economic freedom index
Bahrain Kuwait
2026 65.7 59.9
2025 65.6 59.9
2024 63.4 58.5
2023 62.5 56.7
2022 62 58.3
2021 69.9 64.1
2020 66.3 63.2
2019 66.4 60.8
2018 67.7 62.2
2017 68.5 65.1
2016 74.3 62.7
2015 73.4 62.5
2014 75.1 62.3
2013 75.5 63.1
2012 75.2 62.5
2011 77.7 64.9
2010 76.3 67.7
2009 74.8 65.6
2008 72.2 68.1
2007 71.2 66.4
2006 71.6 66.5
2005 71.2 64.6
2004 75.1 63.6
2003 76.3 66.7
2002 75.6 65.4
2001 75.9 68.2
2000 75.7 69.7
1999 75.2 69.5
1998 75.6 66.3
1997 76.1 64.8
1996 76.4 66.1
1995 76.2 -

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

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

The Economic Freedom Index for Bahrain is 65.7, ranking 63/197, compared to 59.9 for Kuwait, ranking 100/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahrain Kuwait
Services, % of GDP
53.2%
2024
55.9%
2024
Industry, % of GDP
42.3%
2024
57.1%
2024
Agriculture, forestry, and fishing, % of GDP
0.25%
2024
0.49%
2024
GNI, Atlas method
$44.6B
2024
$200B
2024
GNI per capita, PPP
$62,230
2024
$63,270
2024
Total reserves including gold
$4.95B
2024
$50.7B
2024
Total reserves ranking
102/177
2024
41/177
2024
Net foreign direct investment
-$2.43B
2024
$9.71B
2024
Net inflows of foreign direct investment
$2.7B
2024
$615M
2024
Net outflows of foreign direct investment
$275M
2024
$10.3B
2024
Gross capital formation, % of GDP
28.4%
2024
17.7%
2023

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/kuwait | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1962–2024, 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 (2023–2024, 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.