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Economy of Bahrain vs Malta compared: GDP & Debt

Updated on by Georank team

Bahrain has a GDP of $47.1B compared to $25B for Malta, ranking 96/197 and 119/197 by economy size, respectively.

Bahrain has $62.8B in government debt (133.4% of GDP), compared to $11.5B (46.2% of GDP) in Malta.

Bahrain vs Malta GDP by year

Bahrain
Malta
1x
Year GDP, current $
Bahrain Malta
2024 $47,109,734,309 $24,971,574,502
2023 $46,192,260,638 $22,610,561,526
2022 $46,458,191,489 $18,928,276,162
2021 $40,840,212,766 $19,739,875,611
2020 $35,837,632,979 $16,404,663,226
2019 $40,446,808,511 $16,337,793,531
2018 $39,567,978,723 $16,153,779,511
2017 $37,204,813,830 $14,161,366,724
2016 $33,884,680,851 $12,025,782,834
2015 $32,523,297,872 $11,340,795,042
2014 $34,772,526,596 $11,888,032,874
2013 $33,823,324,468 $10,796,782,636
2012 $31,963,404,255 $9,609,532,089
2011 $29,914,680,851 $9,789,361,703
2010 $26,805,984,043 $9,097,044,159
2009 $22,938,218,085 $8,734,745,698
2008 $25,710,904,255 $9,135,419,465
2007 $21,730,000,000 $7,908,412,306
2006 $18,504,760,638 $6,749,838,806
2005 $15,968,723,404 $6,393,234,993
2004 $13,150,159,574 $6,104,141,520
2003 $11,074,813,830 $5,418,315,224
2002 $9,593,510,638 $4,455,127,414
2001 $8,976,196,809 $4,070,867,133
2000 $9,062,898,936 $4,036,809,815
1999 $7,528,469,149 $4,111,857,809
1998 $7,031,309,043 $4,010,111,688
1997 $7,219,407,713 $3,787,023,707
1996 $6,938,166,755 $3,822,547,197
1995 $6,651,180,851 $3,709,396,045
1994 $6,330,627,926 $2,998,505,428
1993 $5,913,001,064 $2,709,193,538
1992 $5,402,232,447 $3,021,942,759
1991 $5,248,911,170 $2,750,216,747
1990 $4,809,511,005 $2,547,328,748
1989 $4,393,093,963 $2,118,655,677
1988 $4,209,834,173 $2,019,503,068
1987 $3,856,922,694 $1,751,293,461
1986 $3,470,746,843 $1,435,038,441
1985 $4,152,376,484 $1,117,797,439
1984 $4,440,874,566 $1,101,807,023
1983 $4,247,030,468 $1,165,729,707
1982 $4,145,421,080 $1,234,474,404
1981 $3,943,109,532 $1,243,509,394
1980 $3,493,834,468 $1,250,198,601
1979 $2,710,160,739 $1,001,288,847
1978 $2,272,042,965 $793,673,402
1977 $1,989,060,283 $625,563,171
1976 $1,581,709,519 $527,936,989
1975 $1,099,107,601 $474,618,321
1974 $1,042,176,884 $376,081,124
1973 $761,132,545 $345,616,106
1972 $534,081,184 $295,106,628
1971 $422,181,562 $264,578,485
1970 $391,577,364 $250,728,796

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

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

GDP per capita in Bahrain vs Malta by year

Bahrain
GDP per capita

GDP per capita, PPP
Malta
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahrain Malta
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $29,654 $66,941 $43,899 $69,864
2023 $29,290 $64,171 $40,906 $67,057
2022 $30,471 $61,678 $35,639 $60,589
2021 $27,148 $54,955 $38,097 $56,852
2020 $24,343 $53,436 $31,823 $49,972
2019 $27,260 $56,600 $32,422 $51,393
2018 $26,324 $51,993 $33,382 $48,178
2017 $24,785 $50,185 $30,317 $45,764
2016 $23,800 $47,429 $26,459 $41,000
2015 $23,734 $48,034 $25,530 $38,369
2014 $26,452 $54,299 $27,425 $35,206
2013 $26,990 $56,310 $25,416 $33,138
2012 $26,439 $56,713 $22,878 $30,716
2011 $25,033 $52,677 $23,517 $29,426
2010 $21,819 $49,255 $21,947 $28,909
2009 $19,465 $48,626 $21,176 $26,782
2008 $23,299 $50,330 $22,315 $26,654
2007 $20,908 $49,347 $19,444 $25,012
2006 $19,267 $48,009 $16,654 $23,219
2005 $17,966 $47,268 $15,831 $22,227
2004 $15,964 $46,317 $15,212 $21,566
2003 $14,486 $45,427 $13,594 $20,813
2002 $13,501 $45,091 $11,251 $19,532
2001 $13,573 $46,162 $10,358 $18,435
2000 $14,214 $45,688 $10,348 $18,214
1999 $12,123 $43,561 $10,609 $16,898
1998 $11,625 $42,281 $10,408 $16,219
1997 $12,255 $40,965 $9,893 $15,465
1996 $12,092 $40,106 $10,062 $14,661
1995 $11,901 $38,839 $9,828 $13,950
1994 $11,629 $37,579 $8,000 $12,938
1993 $11,152 $37,870 $7,296 $12,103
1992 $10,460 $33,648 $8,220 $11,429
1991 $10,434 $31,657 $7,559 $10,784
1990 $9,343 $26,902 $7,192 $10,086
1989 $8,833 - $6,041 -
1988 $8,772 - $5,814 -
1987 $8,333 - $5,084 -
1986 $7,777 - $4,195 -
1985 $9,649 - $3,322 -
1984 $10,697 - $3,333 -
1983 $10,599 - $3,527 -
1982 $10,712 - $3,788 -
1981 $10,557 - $3,898 -
1980 $9,733 - $3,948 -
1979 $7,891 - $3,196 -
1978 $6,926 - $2,559 -
1977 $6,358 - $2,038 -
1976 $5,310 - $1,727 -
1975 $3,880 - $1,560 -
1974 $3,874 - $1,245 -
1973 $2,981 - $1,144 -
1972 $2,206 - $976 -
1971 $1,830 - $874 -
1970 $1,742 - $828 -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

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

Bahrain's GDP per capita is $29,654, ranking 42/197, compared to $43,899 in Malta, ranking 28/197. Adjusted for purchasing power (GDP per capita PPP), Bahrain ranks 26th at $66,941, while Malta ranks 25th at $69,864.

Economic indicators

Bahrain Malta
Gross domestic product
$47.1B
2024
$25B
2024
GDP rank
96/197
2024
119/197
2024
GDP growth
2.6%
2023-2024
6.8%
2023-2024
GDP per capita
$29,654
2024
$43,899
2024
GDP per capita rank
42/197
2024
28/197
2024
GDP per capita, PPP
$66,941
2024
$69,864
2024
GDP per capita PPP rank
26/197
2024
25/197
2024
Government debt
$62.8B
2024
$11.5B
2024
Debt-to-GDP ratio
133.4%
2024
46.2%
2024
Government debt per person
$39,552
2024
$20,269
2024
Government debt per person rank
14/185
2024
31/185
2024
Average annual personal income after taxes
$23,253
2026
$23,692
2026
Market capitalization of domestic companies
$20.4B
2024
$4.29B
2024
Income share by richest 10% n/a
27.7%
2022
Income share by poorest 10% n/a
2.7%
2022
Government expenditure, % of GDP
29.1%
2024
37.3%
2024
Consumer prices inflation
0.92%
2023-2024
1.65%
2023-2024
Central bank interest rate
4.25%
2025
n/a
Unemployment rate
1.2%
2012
3.12%
2024
Population
1669503
581729

Spending and national debt comparison by year

Bahrain
Spending

Debt
Malta
Spending

Debt
1x
Year % of GDP
Bahrain Malta
Government spending Government debt Government spending Government debt
2024 29.1% 133.4% 37.3% 46.2%
2023 29.1% 123% 36.1% 46.8%
2022 28.4% 111.6% 38.3% 50.1%
2021 30.6% 122.3% 39.4% 49.6%
2020 34.6% 125.7% 42.1% 48.6%
2019 31.2% 97.1% 34.9% 39.2%
2018 32.1% 90.4% 34.5% 41.4%
2017 30.7% 84% 32.7% 45.6%
2016 33.3% 77.4% 35.5% 53.1%
2015 34.8% 63.2% 37.8% 55%
2014 27.3% 42.6% 39.6% 60.7%
2013 32% 42.3% 40.1% 64.9%
2012 31.1% 34.8% 41.7% 65.6%
2011 30.2% 31.6% 41.5% 68.9%
2010 31.1% 28.8% 40.1% 65%
2009 24.6% 20.5% 41.1% 66%
2008 22.7% 12.1% 42.1% 61.5%
2007 22.4% 15.7% 41.2% 62%
2006 23.1% 19.4% 42.5% 64.5%
2005 23.9% 23.2% 42.5% 70.2%
2004 25% 28.2% 42% 70.4%
2003 28.1% 31.1% 45.6% 68.6%
2002 30.6% 27.2% 43.6% 65.1%
2001 26.5% 25% 44.4% 70%
2000 22.2% 24.7% 42.9% 64.4%
1999 27.1% 24.7% - 69.8%
1998 25.7% 20% - 66.4%
1997 31% 14.8% - 60.8%
1996 22.7% 13.1% - 51.5%
1995 25.1% 13.6% - 45.3%
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/malta | CC BY

In 2024, Bahrain's government spending was $13.7B, accounting for 29.1% of its GDP, while Malta spent $9.32B, or 37.3% of GDP.

Debt-to-GDP ratio is 133.4% in Bahrain and 46.2% in Malta, ranking 9/185 and 118/185, respectively.

Government deficit by year

Deficit/surplus
Bahrain

Malta
1x
Year Deficit/surplus, % of GDP
Bahrain Malta
2024 -10.6% -3.58%
2023 -9.67% -4.65%
2022 -6.02% -5.31%
2021 -10.6% -6.95%
2020 -17.3% -8.72%
2019 -8.57% 0.72%
2018 -11.3% 1.86%
2017 -13.4% 3.4%
2016 -16.6% 1.1%
2015 -17.5% -0.84%
2014 -3.32% -1.49%
2013 -8.55% -2.19%
2012 -5.77% -3.31%
2011 -4.9% -2.99%
2010 -9.29% -2.22%
2009 -5.36% -3.11%
2008 4.08% -4.06%
2007 1.52% -2.05%
2006 2.24% -2.46%
2005 2.8% -2.83%
2004 0.24% -4.28%
2003 -1.7% -9.04%
2002 -3.27% -5.62%
2001 0.7% -6.5%
2000 7.33% -5.83%
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 (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/bahrain/malta | 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 Malta's deficit of $893M, or 3.58% of GDP.

Over the past 25 years, Bahrain recorded a fiscal deficit in 18 of those years, while Malta ran a deficit in 21 years. On average, Bahrain posted an annual deficit equal to 5.79% of GDP, compared to deficit of 3.24% of GDP for Malta.

Inflation comparison by year

Inflation
Bahrain

Malta
1x
Year Consumer prices inflation
Bahrain Malta
2024 0.92% 1.65%
2023 0.07% 5.09%
2022 3.63% 6.15%
2021 -0.61% 1.5%
2020 -2.32% 0.64%
2019 1.01% 1.64%
2018 2.09% 1.16%
2017 1.39% 1.36%
2016 2.79% 0.64%
2015 1.85% 1.1%
2014 2.65% 0.31%
2013 3.3% 1.18%
2012 2.76% 2.38%
2011 -0.4% 2.96%
2010 1.96% 1.52%
2009 2.8% 2.08%
2008 3.53% 4.26%
2007 3.26% 1.25%
2006 2.01% 2.77%
2005 2.59% 3.01%
2004 2.35% 2.79%
2003 1.59% 1.3%
2002 -0.5% 2.19%
2001 -1.21% 2.93%
2000 -0.7% 2.37%
1999 -1.29% 2.13%
1998 -0.37% 2.39%
1997 2.43% 3.11%

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

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

Over the past 28 years, Bahrain has recorded an average annual inflation rate of 1.34%, compared with 2.21% in Malta. In 2024, inflation was 0.92% in Bahrain and 1.65% in Malta.

Top exports between countries

Bahrain
Export category Export value
Textiles & consumer goods $240K
Metals $117K
Chemicals & pharma $51K
Animal & marine products $16K
Processed food, beverages & tobacco $14K
Raw agricultural goods $14K
Wood & paper products $7K
Machinery & equipment $6K
Raw materials & minerals $4K
Miscellaneous $1K
Malta
Export category Export value
Wood & paper products $1.66M
Processed food, beverages & tobacco $1.3M
Chemicals & pharma $165K
Machinery & equipment $67K
Raw agricultural goods $65K
Textiles & consumer goods $43K
Metals $8K
Miscellaneous $3K

Balance of trade

Bahrain Malta
Current account balance
$2.28B
2024
$1.78B
2024
Current account balance ranking
44/190
2024
47/190
2024
Current account balance, % of GDP
+4.84%
2024
+7.12%
2024
Goods imports
$20.7B
2024
$7.56B
2024
Goods exports
$24.3B
2024
$4.58B
2024
Service imports
$12.4B
2024
$17.4B
2024
Service exports
$17B
2024
$25B
2024
Imports of goods and services, % of GDP
70.1%
2024
99.7%
2024
Exports of goods and services, % of GDP
87.7%
2024
118.5%
2024

Economic freedom indices

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

Bahrain Malta
Economic freedom 65.7 68.2
Economic freedom ranking 63/197 49/197
Property rights 60.9 85.5
Government integrity 45.9 54.3
Judicial effectiveness 30 80.2
Tax burden 99.9 68.5
Government spending 75 58.4
Fiscal health 0 63.2
Business freedom 75.9 83.2
Labor freedom 55.5 62.6
Monetary freedom 88.8 73.1
Trade freedom 86.8 79.4
Investment freedom 90 60
Financial freedom 80 50

Economic freedom comparison by year

Bahrain
Malta
1x
Year Economic freedom index
Bahrain Malta
2026 65.7 68.2
2025 65.6 66.8
2024 63.4 64.5
2023 62.5 67.5
2022 62 71.5
2021 69.9 70.2
2020 66.3 69.5
2019 66.4 68.6
2018 67.7 68.5
2017 68.5 67.7
2016 74.3 66.7
2015 73.4 66.5
2014 75.1 66.4
2013 75.5 67.5
2012 75.2 67
2011 77.7 65.7
2010 76.3 67.2
2009 74.8 66.1
2008 72.2 66
2007 71.2 66.1
2006 71.6 67.3
2005 71.2 68.9
2004 75.1 63.3
2003 76.3 61.1
2002 75.6 62.2
2001 75.9 62.9
2000 75.7 58.3
1999 75.2 59.3
1998 75.6 61.2
1997 76.1 57.9
1996 76.4 55.8
1995 76.2 56.3

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

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

The Economic Freedom Index for Bahrain is 65.7, ranking 63/197, compared to 68.2 for Malta, ranking 49/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahrain Malta
Services, % of GDP
53.2%
2024
81.8%
2024
Industry, % of GDP
42.3%
2024
10.7%
2024
Agriculture, forestry, and fishing, % of GDP
0.25%
2024
0.23%
2024
GNI, Atlas method
$44.6B
2024
$20.9B
2024
GNI per capita, PPP
$62,230
2024
$61,340
2024
Total reserves including gold
$4.95B
2024
$1.42B
2024
Total reserves ranking
102/177
2024
137/177
2024
Net foreign direct investment
-$2.43B
2024
-$6.13B
2024
Net inflows of foreign direct investment
$2.7B
2024
$42.6B
2024
Net outflows of foreign direct investment
$275M
2024
$36.5B
2024
Poverty at national poverty lines n/a
16.7%
2021
Gross capital formation, % of GDP
28.4%
2024
19%
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/malta | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1970–2024, 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.