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Economy of Bahrain vs Malaysia compared: GDP & Debt

Updated on by Georank team

Bahrain has a GDP of $47.1B compared to $422B for Malaysia, ranking 96/197 and 38/197 by economy size, respectively.

Bahrain has $62.8B in government debt (133.4% of GDP), compared to $296B (70.1% of GDP) in Malaysia.

Bahrain vs Malaysia GDP by year

Bahrain
Malaysia
1x
Year GDP, current $
Bahrain Malaysia
2024 $47,109,734,309 $422,227,005,429
2023 $46,192,260,638 $399,949,418,753
2022 $46,458,191,489 $407,830,525,990
2021 $40,840,212,766 $373,784,553,030
2020 $35,837,632,979 $337,456,163,961
2019 $40,446,808,511 $365,177,721,022
2018 $39,567,978,723 $358,788,845,713
2017 $37,204,813,830 $319,109,094,160
2016 $33,884,680,851 $301,256,033,870
2015 $32,523,297,872 $301,355,266,965
2014 $34,772,526,596 $338,066,095,097
2013 $33,823,324,468 $323,276,235,524
2012 $31,963,404,255 $314,443,047,642
2011 $29,914,680,851 $297,951,668,675
2010 $26,805,984,043 $255,017,638,456
2009 $22,938,218,085 $202,257,453,037
2008 $25,710,904,255 $230,811,614,370
2007 $21,730,000,000 $193,549,569,478
2006 $18,504,760,638 $162,692,258,307
2005 $15,968,723,404 $143,534,405,819
2004 $13,150,159,574 $124,749,473,684
2003 $11,074,813,830 $110,202,368,421
2002 $9,593,510,638 $100,845,526,316
2001 $8,976,196,809 $92,783,947,368
2000 $9,062,898,936 $93,789,736,842
1999 $7,528,469,149 $79,148,421,053
1998 $7,031,309,043 $72,167,498,981
1997 $7,219,407,713 $100,005,323,302
1996 $6,938,166,755 $100,855,393,910
1995 $6,651,180,851 $88,705,342,903
1994 $6,330,627,926 $74,478,356,958
1993 $5,913,001,064 $66,894,966,969
1992 $5,402,232,447 $59,167,550,163
1991 $5,248,911,170 $49,143,148,094
1990 $4,809,511,005 $44,024,585,240
1989 $4,393,093,963 $38,847,965,293
1988 $4,209,834,173 $35,272,109,220
1987 $3,856,922,694 $32,181,210,158
1986 $3,470,746,843 $27,734,111,400
1985 $4,152,376,484 $31,199,633,353
1984 $4,440,874,566 $33,942,897,422
1983 $4,247,030,468 $30,347,442,111
1982 $4,145,421,080 $26,804,493,635
1981 $3,943,109,532 $25,004,285,792
1980 $3,493,834,468 $24,488,224,677
1979 $2,710,160,739 $21,213,264,962
1978 $2,272,042,965 $16,358,079,862
1977 $1,989,060,283 $13,139,488,633
1976 $1,581,709,519 $11,050,234,599
1975 $1,099,107,601 $9,298,800,799
1974 $1,042,176,884 $9,496,204,302
1973 $761,132,545 $7,662,902,678
1972 $534,081,184 $5,043,347,250
1971 $422,181,562 $4,244,395,956
1970 $391,577,364 $3,864,145,667
1969 - $3,664,552,041
1968 - $3,330,371,551
1967 - $3,188,924,677
1966 - $3,143,517,944
1965 - $2,956,337,669
1964 - $2,674,423,922
1963 - $2,510,110,348
1962 - $2,001,489,602
1961 - $1,901,856,123
1960 - $1,916,229,477

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

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

GDP per capita in Bahrain vs Malaysia by year

Bahrain
GDP per capita

GDP per capita, PPP
Malaysia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahrain Malaysia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $29,654 $66,941 $11,874 $38,779
2023 $29,290 $64,171 $11,386 $36,467
2022 $30,471 $61,678 $11,755 $34,420
2021 $27,148 $54,955 $10,903 $29,823
2020 $24,343 $53,436 $9,958 $27,475
2019 $27,260 $56,600 $10,920 $28,934
2018 $26,324 $51,993 $10,902 $27,794
2017 $24,785 $50,185 $9,863 $26,416
2016 $23,800 $47,429 $9,477 $25,286
2015 $23,734 $48,034 $9,649 $24,526
2014 $26,452 $54,299 $11,013 $24,307
2013 $26,990 $56,310 $10,714 $23,161
2012 $26,439 $56,713 $10,601 $22,639
2011 $25,033 $52,677 $10,217 $21,324
2010 $21,819 $49,255 $8,899 $20,193
2009 $19,465 $48,626 $7,191 $18,923
2008 $23,299 $50,330 $8,372 $19,480
2007 $20,908 $49,347 $7,169 $18,617
2006 $19,267 $48,009 $6,158 $17,426
2005 $17,966 $47,268 $5,556 $16,371
2004 $15,964 $46,317 $4,939 $15,416
2003 $14,486 $45,427 $4,465 $14,387
2002 $13,501 $45,091 $4,184 $13,656
2001 $13,573 $46,162 $3,944 $13,072
2000 $14,214 $45,688 $4,084 $13,027
1999 $12,123 $43,561 $3,528 $11,980
1998 $11,625 $42,281 $3,294 $11,398
1997 $12,255 $40,965 $4,679 $12,469
1996 $12,092 $40,106 $4,837 $11,709
1995 $11,901 $38,839 $4,363 $10,720
1994 $11,629 $37,579 $3,758 $9,806
1993 $11,152 $37,870 $3,462 $9,018
1992 $10,460 $33,648 $3,141 $8,224
1991 $10,434 $31,657 $2,679 $7,583
1990 $9,343 $26,902 $2,469 $6,887
1989 $8,833 - $2,244 -
1988 $8,772 - $2,100 -
1987 $8,333 - $1,977 -
1986 $7,777 - $1,760 -
1985 $9,649 - $2,046 -
1984 $10,697 - $2,300 -
1983 $10,599 - $2,124 -
1982 $10,712 - $1,938 -
1981 $10,557 - $1,866 -
1980 $9,733 - $1,886 -
1979 $7,891 - $1,680 -
1978 $6,926 - $1,327 -
1977 $6,358 - $1,092 -
1976 $5,310 - $940 -
1975 $3,880 - $811 -
1974 $3,874 - $848 -
1973 $2,981 - $701 -
1972 $2,206 - $472 -
1971 $1,830 - $407 -
1970 $1,742 - $380 -
1969 - - $368 -
1968 - - $342 -
1967 - - $335 -
1966 - - $339 -
1965 - - $326 -
1964 - - $303 -
1963 - - $291.8 -
1962 - - $238.8 -
1961 - - $232.9 -
1960 - - $240.8 -

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

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

Bahrain's GDP per capita is $29,654, ranking 42/197, compared to $11,874 in Malaysia, ranking 79/197. Adjusted for purchasing power (GDP per capita PPP), Bahrain ranks 26th at $66,941, while Malaysia ranks 60th at $38,779.

Economic indicators

Bahrain Malaysia
Gross domestic product
$47.1B
2024
$422B
2024
GDP rank
96/197
2024
38/197
2024
GDP growth
2.6%
2023-2024
5.11%
2023-2024
GDP per capita
$29,654
2024
$11,874
2024
GDP per capita rank
42/197
2024
79/197
2024
GDP per capita, PPP
$66,941
2024
$38,779
2024
GDP per capita PPP rank
26/197
2024
60/197
2024
Government debt
$62.8B
2024
$296B
2024
Debt-to-GDP ratio
133.4%
2024
70.1%
2024
Government debt per person
$39,552
2024
$8,322
2024
Government debt per person rank
14/185
2024
62/185
2024
Average annual personal income after taxes
$23,253
2026
$11,005
2026
Market capitalization of domestic companies
$20.4B
2024
$449B
2024
Number of billionaires n/a
19
2025
Income share by richest 10% n/a
30.9%
2021
Income share by poorest 10% n/a
2.3%
2021
Government expenditure, % of GDP
29.1%
2024
23.9%
2024
Consumer prices inflation
0.92%
2023-2024
1.83%
2023-2024
Central bank interest rate
4.25%
2025
2.75%
2025
Unemployment rate
1.2%
2012
3.93%
2022
Population
1669503
36512221

Spending and national debt comparison by year

Bahrain
Spending

Debt
Malaysia
Spending

Debt
1x
Year % of GDP
Bahrain Malaysia
Government spending Government debt Government spending Government debt
2024 29.1% 133.4% 23.9% 70.1%
2023 29.1% 123% 24.9% 69.7%
2022 28.4% 111.6% 24.6% 65.5%
2021 30.6% 122.3% 24.5% 69.2%
2020 34.6% 125.7% 25% 67.7%
2019 31.2% 97.1% 23.6% 57.1%
2018 32.1% 90.4% 22.8% 55.6%
2017 30.7% 84% 22% 54.4%
2016 33.3% 77.4% 22.9% 55.8%
2015 34.8% 63.2% 24.7% 57%
2014 27.3% 42.6% 26% 55.4%
2013 32% 42.3% 27.8% 55.7%
2012 31.1% 34.8% 28.5% 53.8%
2011 30.2% 31.6% 27.1% 51.9%
2010 31.1% 28.8% 26.6% 51.2%
2009 24.6% 20.5% 30.9% 50.4%
2008 22.7% 12.1% 26.9% 39.4%
2007 22.4% 15.7% 25.9% 39.3%
2006 23.1% 19.4% 25.6% 39.7%
2005 23.9% 23.2% 24.5% 40.8%
2004 25% 28.2% 25.9% 42%
2003 28.1% 31.1% 28.1% 41.4%
2002 30.6% 27.2% 27.1% 39.5%
2001 26.5% 25% 28.2% 38.1%
2000 22.2% 24.7% 25.6% 32.5%
1999 27.1% 24.7% 24.6% 34.4%
1998 25.7% 20% 23.1% 33.6%
1997 31% 14.8% 21.2% 29.6%
1996 22.7% 13.1% 22.4% 32.8%
1995 25.1% 13.6% 22.6% 38.2%
1994 26.1% 5.62% 23.3% 43.7%
1993 26.7% 5.95% 24.6% 51.1%
1992 29.4% 6.45% 28.2% 59.1%
1991 28.5% 6.71% 27.4% 67.3%
1990 32.4% 7.24% 30.5% 74.1%

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

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

In 2024, Bahrain's government spending was $13.7B, accounting for 29.1% of its GDP, while Malaysia spent $101B, or 23.9% of GDP.

Debt-to-GDP ratio is 133.4% in Bahrain and 70.1% in Malaysia, ranking 9/185 and 58/185, respectively.

Government deficit by year

Deficit/surplus
Bahrain

Malaysia
1x
Year Deficit/surplus, % of GDP
Bahrain Malaysia
2024 -10.6% -3.95%
2023 -9.67% -3.97%
2022 -6.02% -4.56%
2021 -10.6% -6.03%
2020 -17.3% -4.9%
2019 -8.57% -2.01%
2018 -11.3% -2.64%
2017 -13.4% -2.41%
2016 -16.6% -2.6%
2015 -17.5% -2.55%
2014 -3.32% -2.63%
2013 -8.55% -3.48%
2012 -5.77% -3.1%
2011 -4.9% -3.57%
2010 -9.29% -4.32%
2009 -5.36% -5.88%
2008 4.08% -3.4%
2007 1.52% -2.57%
2006 2.24% -2.6%
2005 2.8% -2.83%
2004 0.24% -3.35%
2003 -1.7% -4.6%
2002 -3.27% -3.96%
2001 0.7% -4.36%
2000 7.33% -6.05%
1999 -4.85% -3%
1998 -5.49% -0.63%
1997 -6.39% 4.84%
1996 0.24% 3.27%
1995 -3.99% 3.1%
1994 -5.18% 5.45%
1993 -2.77% 3.44%
1992 -5.41% 1.81%
1991 -3.47% 1.6%
1990 -6.79% 0.15%

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

GeoRank.org/economy/bahrain/malaysia | 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 Malaysia's deficit of $16.7B, or 3.95% of GDP.

Over the past 35 years, Bahrain recorded a fiscal deficit in 27 of those years, while Malaysia ran a deficit in 27 years. On average, Bahrain posted an annual deficit equal to 5.39% of GDP, compared to deficit of 2.07% of GDP for Malaysia.

Inflation comparison by year

Inflation
Bahrain

Malaysia
1x
Year Consumer prices inflation
Bahrain Malaysia
2024 0.92% 1.83%
2023 0.07% 2.49%
2022 3.63% 3.38%
2021 -0.61% 2.48%
2020 -2.32% -1.14%
2019 1.01% 0.66%
2018 2.09% 0.88%
2017 1.39% 3.87%
2016 2.79% 2.09%
2015 1.85% 2.1%
2014 2.65% 3.14%
2013 3.3% 2.11%
2012 2.76% 1.66%
2011 -0.4% 3.17%
2010 1.96% 1.62%
2009 2.8% 0.58%
2008 3.53% 5.44%
2007 3.26% 2.03%
2006 2.01% 3.61%
2005 2.59% 2.98%
2004 2.35% 1.42%
2003 1.59% 1.09%
2002 -0.5% 1.81%
2001 -1.21% 1.42%
2000 -0.7% 1.53%
1999 -1.29% 2.74%
1998 -0.37% 5.27%
1997 2.43% 2.66%

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

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

Over the past 28 years, Bahrain has recorded an average annual inflation rate of 1.34%, compared with 2.25% in Malaysia. In 2024, inflation was 0.92% in Bahrain and 1.83% in Malaysia.

Top exports between countries

Bahrain
Export category Export value
Metals $92.5M
Raw materials & minerals $55M
Machinery & equipment $35.4M
Processed food, beverages & tobacco $3.89M
Animal & marine products $3.4M
Chemicals & pharma $967K
Textiles & consumer goods $445K
Precious metals & jewellery $40K
Miscellaneous $16K
Raw agricultural goods $6K
Malaysia
Export category Export value
Processed food, beverages & tobacco $19.5M
Machinery & equipment $14.2M
Raw materials & minerals $11.4M
Chemicals & pharma $7.61M
Wood & paper products $4.36M
Textiles & consumer goods $4.08M
Metals $1.71M
Precious metals & jewellery $1.24M
Raw agricultural goods $430K
Animal & marine products $335K

Balance of trade

Bahrain Malaysia
Current account balance
$2.28B
2024
$7.15B
2024
Current account balance ranking
44/190
2024
26/190
2024
Current account balance, % of GDP
+4.84%
2024
+1.69%
2024
Goods imports
$20.7B
2024
$223B
2024
Goods exports
$24.3B
2024
$248B
2024
Service imports
$12.4B
2024
$56.4B
2024
Service exports
$17B
2024
$53.4B
2024
Imports of goods and services, % of GDP
70.1%
2024
66%
2024
Exports of goods and services, % of GDP
87.7%
2024
71.3%
2024

Economic freedom indices

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

Bahrain Malaysia
Economic freedom 65.7 68
Economic freedom ranking 63/197 51/197
Property rights 60.9 62.7
Government integrity 45.9 52.9
Judicial effectiveness 30 63.4
Tax burden 99.9 83.5
Government spending 75 82
Fiscal health 0 62.5
Business freedom 75.9 79.6
Labor freedom 55.5 55.4
Monetary freedom 88.8 80.8
Trade freedom 86.8 83
Investment freedom 90 60
Financial freedom 80 50

Economic freedom comparison by year

Bahrain
Malaysia
1x
Year Economic freedom index
Bahrain Malaysia
2026 65.7 68
2025 65.6 67.1
2024 63.4 65.7
2023 62.5 67.3
2022 62 68.1
2021 69.9 74.4
2020 66.3 74.7
2019 66.4 74
2018 67.7 74.5
2017 68.5 73.8
2016 74.3 71.5
2015 73.4 70.8
2014 75.1 69.6
2013 75.5 66.1
2012 75.2 66.4
2011 77.7 66.3
2010 76.3 64.8
2009 74.8 64.6
2008 72.2 63.9
2007 71.2 63.8
2006 71.6 61.6
2005 71.2 61.9
2004 75.1 59.9
2003 76.3 61.1
2002 75.6 60.1
2001 75.9 60.2
2000 75.7 66
1999 75.2 68.9
1998 75.6 68.2
1997 76.1 66.8
1996 76.4 69.9
1995 76.2 71.9

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

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

The Economic Freedom Index for Bahrain is 65.7, ranking 63/197, compared to 68 for Malaysia, ranking 51/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahrain Malaysia
Services, % of GDP
53.2%
2024
53.7%
2024
Industry, % of GDP
42.3%
2024
37%
2024
Agriculture, forestry, and fishing, % of GDP
0.25%
2024
8.13%
2024
GNI, Atlas method
$44.6B
2024
$414B
2024
GNI per capita, PPP
$62,230
2024
$37,450
2024
Total reserves including gold
$4.95B
2024
$116B
2024
Total reserves ranking
102/177
2024
24/177
2024
Net foreign direct investment
-$2.43B
2024
-$2.55B
2024
Net inflows of foreign direct investment
$2.7B
2024
$15.6B
2024
Net outflows of foreign direct investment
$275M
2024
$13B
2024
Poverty at national poverty lines n/a
5.8%
2023
Gross capital formation, % of GDP
28.4%
2024
22%
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/malaysia | 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 (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.