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Economy of Bahrain vs Luxembourg compared: GDP & Debt

Updated on by Georank team

Bahrain has a GDP of $47.1B compared to $93.3B for Luxembourg, ranking 96/197 and 74/197 by economy size, respectively.

Bahrain has $62.8B in government debt (133.4% of GDP), compared to $24.5B (26.3% of GDP) in Luxembourg.

Bahrain vs Luxembourg GDP by year

Bahrain
Luxembourg
1x
Year GDP, current $
Bahrain Luxembourg
2024 $47,109,734,309 $93,279,851,863
2023 $46,192,260,638 $88,788,881,539
2022 $46,458,191,489 $80,801,680,397
2021 $40,840,212,766 $86,386,759,695
2020 $35,837,632,979 $73,670,782,100
2019 $40,446,808,511 $69,872,035,114
2018 $39,567,978,723 $71,085,623,495
2017 $37,204,813,830 $65,712,180,343
2016 $33,884,680,851 $62,216,885,436
2015 $32,523,297,872 $60,071,584,216
2014 $34,772,526,596 $68,804,811,898
2013 $33,823,324,468 $65,203,276,467
2012 $31,963,404,255 $59,776,383,527
2011 $29,914,680,851 $61,696,281,326
2010 $26,805,984,043 $56,213,985,987
2009 $22,938,218,085 $54,467,289,898
2008 $25,710,904,255 $58,844,277,702
2007 $21,730,000,000 $51,587,401,416
2006 $18,504,760,638 $42,910,146,296
2005 $15,968,723,404 $37,672,280,120
2004 $13,150,159,574 $35,064,843,793
2003 $11,074,813,830 $29,667,268,248
2002 $9,593,510,638 $23,649,833,332
2001 $8,976,196,809 $21,387,533,703
2000 $9,062,898,936 $21,230,182,989
1999 $7,528,469,149 $21,899,317,599
1998 $7,031,309,043 $20,150,053,345
1997 $7,219,407,713 $19,563,836,265
1996 $6,938,166,755 $20,895,314,658
1995 $6,651,180,851 $20,853,093,870
1994 $6,330,627,926 $17,701,798,891
1993 $5,913,001,064 $15,925,521,222
1992 $5,402,232,447 $15,518,702,635
1991 $5,248,911,170 $13,834,219,728
1990 $4,809,511,005 $12,778,792,854
1989 $4,393,093,963 $10,037,674,038
1988 $4,209,834,173 $9,418,167,855
1987 $3,856,922,694 $8,320,902,215
1986 $3,470,746,843 $6,685,595,088
1985 $4,152,376,484 $4,577,211,767
1984 $4,440,874,566 $4,438,435,493
1983 $4,247,030,468 $4,524,217,751
1982 $4,145,421,080 $4,602,316,793
1981 $3,943,109,532 $5,053,665,797
1980 $3,493,834,468 $6,019,805,490
1979 $2,710,160,739 $5,516,982,664
1978 $2,272,042,965 $4,718,539,772
1977 $1,989,060,283 $3,789,321,328
1976 $1,581,709,519 $3,423,586,207
1975 $1,099,107,601 $3,123,333,333
1974 $1,042,176,884 $3,183,637,117
1973 $761,132,545 $2,609,875,802
1972 $534,081,184 $1,901,697,370
1971 $422,181,562 $1,518,773,421
1970 $391,577,364 $1,457,768,455
1969 - $1,245,432,991
1968 - $1,075,561,623
1967 - $983,052,315
1966 - $976,717,015
1965 - $929,477,285
1964 - $910,877,686
1963 - $797,902,154
1962 - $747,846,862
1961 - $710,163,719
1960 - $709,941,874

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Bahrain vs Luxembourg by year

Bahrain
GDP per capita

GDP per capita, PPP
Luxembourg
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahrain Luxembourg
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $29,654 $66,941 $137,782 $155,941
2023 $29,290 $64,171 $133,231 $150,508
2022 $30,471 $61,678 $123,720 $146,919
2021 $27,148 $54,955 $134,966 $136,772
2020 $24,343 $53,436 $116,860 $122,067
2019 $27,260 $56,600 $112,697 $121,372
2018 $26,324 $51,993 $116,927 $116,638
2017 $24,785 $50,185 $110,193 $114,986
2016 $23,800 $47,429 $106,899 $113,365
2015 $23,734 $48,034 $105,462 $107,860
2014 $26,452 $54,299 $123,679 $105,296
2013 $26,990 $56,310 $120,000 $100,925
2012 $26,439 $56,713 $112,585 $96,636
2011 $25,033 $52,677 $119,025 $94,475
2010 $21,819 $49,255 $110,886 $90,336
2009 $19,465 $48,626 $109,420 $86,919
2008 $23,299 $50,330 $120,422 $90,971
2007 $20,908 $49,347 $107,475 $85,126
2006 $19,267 $48,009 $90,789 $78,861
2005 $17,966 $47,268 $80,988 $68,788
2004 $15,964 $46,317 $76,545 $64,686
2003 $14,486 $45,427 $65,689 $60,192
2002 $13,501 $45,091 $53,006 $58,576
2001 $13,573 $46,162 $48,440 $56,136
2000 $14,214 $45,688 $48,660 $55,136
1999 $12,123 $43,561 $50,872 $49,845
1998 $11,625 $42,281 $47,445 $44,270
1997 $12,255 $40,965 $46,642 $42,488
1996 $12,092 $40,106 $50,444 $39,722
1995 $11,901 $38,839 $51,032 $38,345
1994 $11,629 $37,579 $43,933 $37,551
1993 $11,152 $37,870 $40,067 $35,899
1992 $10,460 $33,648 $39,571 $34,108
1991 $10,434 $31,657 $35,747 $33,191
1990 $9,343 $26,902 $33,465 $29,949
1989 $8,833 - $26,618 -
1988 $8,772 - $25,219 -
1987 $8,333 - $22,443 -
1986 $7,777 - $18,150 -
1985 $9,649 - $12,482 -
1984 $10,697 - $12,127 -
1983 $10,599 - $12,374 -
1982 $10,712 - $12,591 -
1981 $10,557 - $13,837 -
1980 $9,733 - $16,531 -
1979 $7,891 - $15,204 -
1978 $6,926 - $13,034 -
1977 $6,358 - $10,486 -
1976 $5,310 - $9,491 -
1975 $3,880 - $8,701 -
1974 $3,874 - $8,967 -
1973 $2,981 - $7,447 -
1972 $2,206 - $5,487 -
1971 $1,830 - $4,435 -
1970 $1,742 - $4,298 -
1969 - - $3,690 -
1968 - - $3,203 -
1967 - - $2,935 -
1966 - - $2,925 -
1965 - - $2,804 -
1964 - - $2,779 -
1963 - - $2,462 -
1962 - - $2,332 -
1961 - - $2,241 -
1960 - - $2,261 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

Bahrain's GDP per capita is $29,654, ranking 42/197, compared to $137,782 in Luxembourg, ranking 3/197. Adjusted for purchasing power (GDP per capita PPP), Bahrain ranks 26th at $66,941, while Luxembourg ranks 1st at $155,941.

Economic indicators

Bahrain Luxembourg
Gross domestic product
$47.1B
2024
$93.3B
2024
GDP rank
96/197
2024
74/197
2024
GDP growth
2.6%
2023-2024
0.36%
2023-2024
GDP per capita
$29,654
2024
$137,782
2024
GDP per capita rank
42/197
2024
3/197
2024
GDP per capita, PPP
$66,941
2024
$155,941
2024
GDP per capita PPP rank
26/197
2024
1/197
2024
Government debt
$62.8B
2024
$24.5B
2024
Debt-to-GDP ratio
133.4%
2024
26.3%
2024
Government debt per person
$39,552
2024
$36,221
2024
Government debt per person rank
14/185
2024
19/185
2024
Average annual personal income after taxes
$23,253
2026
$69,593
2026
Market capitalization of domestic companies
$20.4B
2024
$41.9B
2024
Number of billionaires n/a
1
2025
Income share by richest 10% n/a
25%
2023
Income share by poorest 10% n/a
2.8%
2023
Government expenditure, % of GDP
29.1%
2024
46.9%
2024
Consumer prices inflation
0.92%
2023-2024
2.05%
2023-2024
Central bank interest rate
4.25%
2025
n/a
Unemployment rate
1.2%
2012
6.42%
2024
Population
1669503
693885

Spending and national debt comparison by year

Bahrain
Spending

Debt
Luxembourg
Spending

Debt
1x
Year % of GDP
Bahrain Luxembourg
Government spending Government debt Government spending Government debt
2024 29.1% 133.4% 46.9% 26.3%
2023 29.1% 123% 46.4% 24.7%
2022 28.4% 111.6% 44.3% 24.9%
2021 30.6% 122.3% 42.4% 24.2%
2020 34.6% 125.7% 47% 24.5%
2019 31.2% 97.1% 43.1% 22.3%
2018 32.1% 90.4% 42.3% 20.9%
2017 30.7% 84% 41.3% 21.8%
2016 33.3% 77.4% 40% 19.6%
2015 34.8% 63.2% 40.4% 21.1%
2014 27.3% 42.6% 40.6% 21.9%
2013 32% 42.3% 41.2% 22.4%
2012 31.1% 34.8% 41.8% 20.8%
2011 30.2% 31.6% 41.5% 18.5%
2010 31.1% 28.8% 42% 19.1%
2009 24.6% 20.5% 42.7% 15.3%
2008 22.7% 12.1% 37.9% 14.6%
2007 22.4% 15.7% 37.4% 8.09%
2006 23.1% 19.4% 39.4% 8.21%
2005 23.9% 23.2% 43.4% 7.95%
2004 25% 28.2% 43.7% 7.83%
2003 28.1% 31.1% 43.3% 7.43%
2002 30.6% 27.2% 41.8% 7.45%
2001 26.5% 25% 38.1% 7.62%
2000 22.2% 24.7% 38% 7.49%
1999 27.1% 24.7% 41.7% 8.39%
1998 25.7% 20% 43.9% 9.51%
1997 31% 14.8% 44.2% 10.1%
1996 22.7% 13.1% 42.5% 10.2%
1995 25.1% 13.6% 42% 10.3%
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/luxembourg | CC BY

In 2024, Bahrain's government spending was $13.7B, accounting for 29.1% of its GDP, while Luxembourg spent $43.7B, or 46.9% of GDP.

Debt-to-GDP ratio is 133.4% in Bahrain and 26.3% in Luxembourg, ranking 9/185 and 162/185, respectively.

Government deficit by year

Deficit/surplus
Bahrain

Luxembourg
1x
Year Deficit/surplus, % of GDP
Bahrain Luxembourg
2024 -10.6% 1.03%
2023 -9.67% -0.78%
2022 -6.02% 0.18%
2021 -10.6% 1%
2020 -17.3% -3.09%
2019 -8.57% 2.68%
2018 -11.3% 3.17%
2017 -13.4% 1.37%
2016 -16.6% 1.89%
2015 -17.5% 1.3%
2014 -3.32% 1.33%
2013 -8.55% 0.84%
2012 -5.77% 0.5%
2011 -4.9% 0.65%
2010 -9.29% -0.26%
2009 -5.36% -0.21%
2008 4.08% 3.37%
2007 1.52% 4.35%
2006 2.24% 1.9%
2005 2.8% -0.21%
2004 0.24% -1.39%
2003 -1.7% 0.28%
2002 -3.27% 2.03%
2001 0.7% 5.62%
2000 7.33% 5.55%
1999 -4.85% 3.24%
1998 -5.49% 2.98%
1997 -6.39% 2.65%
1996 0.24% 2.37%
1995 -3.99% 2.71%
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/luxembourg | 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 Luxembourg's surplus of $961M, or 1.03% of GDP.

Over the past 30 years, Bahrain recorded a fiscal deficit in 22 of those years, while Luxembourg ran a deficit in 6 years. On average, Bahrain posted an annual deficit equal to 5.51% of GDP, compared to surplus of 1.57% of GDP for Luxembourg.

Inflation comparison by year

Inflation
Bahrain

Luxembourg
1x
Year Consumer prices inflation
Bahrain Luxembourg
2024 0.92% 2.05%
2023 0.07% 3.74%
2022 3.63% 6.34%
2021 -0.61% 2.53%
2020 -2.32% 0.82%
2019 1.01% 1.74%
2018 2.09% 1.53%
2017 1.39% 1.73%
2016 2.79% 0.29%
2015 1.85% 0.47%
2014 2.65% 0.63%
2013 3.3% 1.73%
2012 2.76% 2.66%
2011 -0.4% 3.41%
2010 1.96% 2.27%
2009 2.8% 0.37%
2008 3.53% 3.4%
2007 3.26% 2.31%
2006 2.01% 2.67%
2005 2.59% 2.49%
2004 2.35% 2.23%
2003 1.59% 2.05%
2002 -0.5% 2.07%
2001 -1.21% 2.66%
2000 -0.7% 3.15%
1999 -1.29% 1.03%
1998 -0.37% 0.96%
1997 2.43% 1.37%

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

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

Over the past 28 years, Bahrain has recorded an average annual inflation rate of 1.34%, compared with 2.1% in Luxembourg. In 2024, inflation was 0.92% in Bahrain and 2.05% in Luxembourg.

Top exports between countries

Bahrain
Export category Export value
Machinery & equipment $53.9M
Animal & marine products $169K
Textiles & consumer goods $41K
Miscellaneous $9K
Raw materials & minerals $1K
Luxembourg
Export category Export value
Machinery & equipment $1.03M
Textiles & consumer goods $566K
Animal & marine products $114K
Chemicals & pharma $50K
Metals $22K
Precious metals & jewellery $10K
Miscellaneous $2K
Processed food, beverages & tobacco $2K
Raw materials & minerals $2K
Wood & paper products $1K

Balance of trade

Bahrain Luxembourg
Current account balance
$2.28B
2024
$4.1B
2024
Current account balance ranking
44/190
2024
35/190
2024
Current account balance, % of GDP
+4.84%
2024
+4.4%
2024
Goods imports
$20.7B
2024
$29.4B
2024
Goods exports
$24.3B
2024
$31.3B
2024
Service imports
$12.4B
2024
$117B
2024
Service exports
$17B
2024
$150B
2024
Imports of goods and services, % of GDP
70.1%
2024
159.7%
2024
Exports of goods and services, % of GDP
87.7%
2024
191.5%
2024

Economic freedom indices

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

Bahrain Luxembourg
Economic freedom 65.7 79.7
Economic freedom ranking 63/197 7/197
Property rights 60.9 96.6
Government integrity 45.9 88.7
Judicial effectiveness 30 99.1
Tax burden 99.9 62.3
Government spending 75 36.9
Fiscal health 0 98.6
Business freedom 75.9 89.5
Labor freedom 55.5 56.7
Monetary freedom 88.8 74.1
Trade freedom 86.8 79.4
Investment freedom 90 95
Financial freedom 80 80

Economic freedom comparison by year

Bahrain
Luxembourg
1x
Year Economic freedom index
Bahrain Luxembourg
2026 65.7 79.7
2025 65.6 79.5
2024 63.4 79.2
2023 62.5 78.4
2022 62 80.6
2021 69.9 76
2020 66.3 75.8
2019 66.4 75.9
2018 67.7 76.4
2017 68.5 75.9
2016 74.3 73.9
2015 73.4 73.2
2014 75.1 74.2
2013 75.5 74.2
2012 75.2 74.5
2011 77.7 76.2
2010 76.3 75.4
2009 74.8 75.2
2008 72.2 74.7
2007 71.2 74.6
2006 71.6 75.3
2005 71.2 76.3
2004 75.1 78.9
2003 76.3 79.9
2002 75.6 79.4
2001 75.9 80.1
2000 75.7 76.4
1999 75.2 72.4
1998 75.6 72.7
1997 76.1 72.8
1996 76.4 72.5
1995 76.2 -

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

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

The Economic Freedom Index for Bahrain is 65.7, ranking 63/197, compared to 79.7 for Luxembourg, ranking 7/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahrain Luxembourg
Services, % of GDP
53.2%
2024
81.2%
2024
Industry, % of GDP
42.3%
2024
9.66%
2024
Agriculture, forestry, and fishing, % of GDP
0.25%
2024
0.21%
2024
GNI, Atlas method
$44.6B
2024
$57.3B
2024
GNI per capita, PPP
$62,230
2024
$110,650
2024
Total reserves including gold
$4.95B
2024
$2.79B
2024
Total reserves ranking
102/177
2024
119/177
2024
Net foreign direct investment
-$2.43B
2024
$21.4B
2024
Net inflows of foreign direct investment
$2.7B
2024
$106B
2024
Net outflows of foreign direct investment
$275M
2024
$109B
2024
Poverty at national poverty lines n/a
17.3%
2021
Gross capital formation, % of GDP
28.4%
2024
15.8%
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/luxembourg | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, 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 (2020–2024, 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.