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Economy of Bahrain vs Oman compared: GDP & Debt

Updated on by Georank team

Bahrain has a GDP of $47.1B compared to $107B for Oman, ranking 96/197 and 70/197 by economy size, respectively.

Bahrain has $62.8B in government debt (133.4% of GDP), compared to $38B (35.5% of GDP) in Oman.

Bahrain vs Oman GDP by year

Bahrain
Oman
1x
Year GDP, current $
Bahrain Oman
2024 $47,109,734,309 $107,137,198,769
2023 $46,192,260,638 $106,174,708,037
2022 $46,458,191,489 $109,852,795,839
2021 $40,840,212,766 $87,323,797,139
2020 $35,837,632,979 $75,909,492,848
2019 $40,446,808,511 $88,060,858,257
2018 $39,567,978,723 $91,505,851,756
2017 $37,204,813,830 $80,856,697,009
2016 $33,884,680,851 $75,128,738,622
2015 $32,523,297,872 $78,710,793,238
2014 $34,772,526,596 $92,699,089,727
2013 $33,823,324,468 $89,936,020,806
2012 $31,963,404,255 $87,408,842,653
2011 $29,914,680,851 $77,497,529,259
2010 $26,805,984,043 $64,993,498,049
2009 $22,938,218,085 $55,454,096,229
2008 $25,710,904,255 $69,804,681,404
2007 $21,730,000,000 $48,300,390,117
2006 $18,504,760,638 $42,577,633,290
2005 $15,968,723,404 $35,506,892,068
2004 $13,150,159,574 $28,378,933,680
2003 $11,074,813,830 $24,733,680,104
2002 $9,593,510,638 $23,065,539,662
2001 $8,976,196,809 $22,205,721,717
2000 $9,062,898,936 $22,259,557,867
1999 $7,528,469,149 $17,832,769,831
1998 $7,031,309,043 $16,044,213,264
1997 $7,219,407,713 $18,039,791,938
1996 $6,938,166,755 $17,402,080,624
1995 $6,651,180,851 $15,722,236,671
1994 $6,330,627,926 $14,715,214,564
1993 $5,913,001,064 $14,230,429,129
1992 $5,402,232,447 $14,183,615,085
1991 $5,248,911,170 $12,918,335,501
1990 $4,809,511,005 $13,310,273,082
1989 $4,393,093,963 $9,372,171,651
1988 $4,209,834,173 $8,386,215,865
1987 $3,856,922,694 $7,811,183,095
1986 $3,470,746,843 $7,324,167,369
1985 $4,152,376,484 $10,005,645,420
1984 $4,440,874,566 $8,821,443,151
1983 $4,247,030,468 $7,932,541,691
1982 $4,145,421,080 $7,554,719,456
1981 $3,943,109,532 $7,259,120,151
1980 $3,493,834,468 $5,981,760,278
1979 $2,710,160,739 $3,733,352,635
1978 $2,272,042,965 $2,740,301,390
1977 $1,989,060,283 $2,741,169,948
1976 $1,581,709,519 $2,560,220,035
1975 $1,099,107,601 $2,096,699,189
1974 $1,042,176,884 $1,645,917,776
1973 $761,132,545 $483,066,991
1972 $534,081,184 $366,883,548
1971 $422,181,562 $301,010,587
1970 $391,577,364 $256,319,795
1969 - $239,999,808
1968 - $188,879,849
1967 - $107,151,832
1966 - $67,759,973
1965 - $63,279,975
1964 - $61,872,526
1963 - $59,912,763
1962 - $56,273,202
1961 - $45,634,487
1960 - $44,234,656

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

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

GDP per capita in Bahrain vs Oman by year

Bahrain
GDP per capita

GDP per capita, PPP
Oman
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahrain Oman
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $29,654 $66,941 $20,285 $41,740
2023 $29,290 $64,171 $21,028 $41,945
2022 $30,471 $61,678 $23,224 $42,616
2021 $27,148 $54,955 $19,403 $38,719
2020 $24,343 $53,436 $16,785 $35,163
2019 $27,260 $56,600 $19,180 $37,251
2018 $26,324 $51,993 $19,902 $37,780
2017 $24,785 $50,185 $17,820 $33,619
2016 $23,800 $47,429 $17,110 $33,334
2015 $23,734 $48,034 $18,808 $36,058
2014 $26,452 $54,299 $23,161 $44,236
2013 $26,990 $56,310 $23,458 $47,013
2012 $26,439 $56,713 $24,642 $49,989
2011 $25,033 $52,677 $25,188 $52,393
2010 $21,819 $49,255 $23,570 $55,667
2009 $19,465 $48,626 $20,656 $55,127
2008 $23,299 $50,330 $26,577 $52,841
2007 $20,908 $49,347 $18,793 $48,627
2006 $19,267 $48,009 $16,931 $46,091
2005 $17,966 $47,268 $14,435 $43,673
2004 $15,964 $46,317 $11,801 $42,142
2003 $14,486 $45,427 $10,464 $40,935
2002 $13,501 $45,091 $9,869 $41,511
2001 $13,573 $46,162 $9,612 $41,679
2000 $14,214 $45,688 $9,754 $39,443
1999 $12,123 $43,561 $7,915 $36,792
1998 $11,625 $42,281 $7,219 $36,666
1997 $12,255 $40,965 $8,235 $36,809
1996 $12,092 $40,106 $8,068 $34,661
1995 $11,901 $38,839 $7,414 $33,598
1994 $11,629 $37,579 $7,068 $31,925
1993 $11,152 $37,870 $7,039 $30,987
1992 $10,460 $33,648 $7,318 $29,773
1991 $10,434 $31,657 $6,977 $28,109
1990 $9,343 $26,902 $7,546 $26,904
1989 $8,833 - $5,591 -
1988 $8,772 - $5,279 -
1987 $8,333 - $5,204 -
1986 $7,777 - $5,182 -
1985 $9,649 - $7,549 -
1984 $10,697 - $7,070 -
1983 $10,599 - $6,714 -
1982 $10,712 - $6,759 -
1981 $10,557 - $6,866 -
1980 $9,733 - $5,974 -
1979 $7,891 - $3,934 -
1978 $6,926 - $3,044 -
1977 $6,358 - $3,205 -
1976 $5,310 - $3,143 -
1975 $3,880 - $2,692 -
1974 $3,874 - $2,203 -
1973 $2,981 - $670 -
1972 $2,206 - $524 -
1971 $1,830 - $442 -
1970 $1,742 - $387 -
1969 - - $372 -
1968 - - $300 -
1967 - - $174.7 -
1966 - - $113.2 -
1965 - - $108.1 -
1964 - - $108.1 -
1963 - - $106.8 -
1962 - - $102.3 -
1961 - - $84.5 -
1960 - - $83.4 -

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

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

Bahrain's GDP per capita is $29,654, ranking 42/197, compared to $20,285 in Oman, ranking 57/197. Adjusted for purchasing power (GDP per capita PPP), Bahrain ranks 26th at $66,941, while Oman ranks 55th at $41,740.

Economic indicators

Bahrain Oman
Gross domestic product
$47.1B
2024
$107B
2024
GDP rank
96/197
2024
70/197
2024
GDP growth
2.6%
2023-2024
1.63%
2023-2024
GDP per capita
$29,654
2024
$20,285
2024
GDP per capita rank
42/197
2024
57/197
2024
GDP per capita, PPP
$66,941
2024
$41,740
2024
GDP per capita PPP rank
26/197
2024
55/197
2024
Government debt
$62.8B
2024
$38B
2024
Debt-to-GDP ratio
133.4%
2024
35.5%
2024
Government debt per person
$39,552
2024
$7,204
2024
Government debt per person rank
14/185
2024
67/185
2024
Average annual personal income after taxes
$23,253
2026
$20,894
2026
Market capitalization of domestic companies
$20.4B
2024
$22.3B
2022
Number of billionaires n/a
2
2025
Government expenditure, % of GDP
29.1%
2024
28.7%
2024
Consumer prices inflation
0.92%
2023-2024
0.6%
2023-2024
Central bank interest rate
4.25%
2025
4.5%
2025
Unemployment rate
1.2%
2012
3.3%
2024
Population
1669503
5761708

Spending and national debt comparison by year

Bahrain
Spending

Debt
Oman
Spending

Debt
1x
Year % of GDP
Bahrain Oman
Government spending Government debt Government spending Government debt
2024 29.1% 133.4% 28.7% 35.5%
2023 29.1% 123% 27.5% 37.5%
2022 28.4% 111.6% 30.9% 41.7%
2021 30.6% 122.3% 36.5% 61.9%
2020 34.6% 125.7% 44.5% 67.9%
2019 31.2% 97.1% 38.8% 52.5%
2018 32.1% 90.4% 38.3% 44.7%
2017 30.7% 84% 39.4% 40.1%
2016 33.3% 77.4% 44.6% 29.3%
2015 34.8% 63.2% 44.5% 13.9%
2014 27.3% 42.6% 41.4% 4.04%
2013 32% 42.3% 39.3% 4.66%
2012 31.1% 34.8% 38.6% 4.59%
2011 30.2% 31.6% 34.5% 4.44%
2010 31.1% 28.8% 30.6% 5.46%
2009 24.6% 20.5% 33.4% 5.8%
2008 22.7% 12.1% 25.6% 3.2%
2007 22.4% 15.7% 30.7% 4.44%
2006 23.1% 19.4% 30.1% 7.56%
2005 23.9% 23.2% 30.6% 8.39%
2004 25% 28.2% 34.1% 14.5%
2003 28.1% 31.1% 34% 13%
2002 30.6% 27.2% 34.1% 15.9%
2001 26.5% 25% 33.3% 22.5%
2000 22.2% 24.7% 31.2% 21.7%
1999 27.1% 24.7% 34.2% 28.9%
1998 25.7% 20% 36.1% 30.9%
1997 31% 14.8% 32.1% 20.8%
1996 22.7% 13.1% 33.5% 21.2%
1995 25.1% 13.6% 38.2% 21.9%
1994 26.1% 5.62% 39.7% 23.6%
1993 26.7% 5.95% 40.1% 22.2%
1992 29.4% 6.45% 40.1% 23.1%
1991 28.5% 6.71% 37.4% 22.6%
1990 32.4% 7.24% 36.5% 17.8%

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

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

In 2024, Bahrain's government spending was $13.7B, accounting for 29.1% of its GDP, while Oman spent $30.7B, or 28.7% of GDP.

Debt-to-GDP ratio is 133.4% in Bahrain and 35.5% in Oman, ranking 9/185 and 145/185, respectively.

Government deficit by year

Deficit/surplus
Bahrain

Oman
1x
Year Deficit/surplus, % of GDP
Bahrain Oman
2024 -10.6% 3.31%
2023 -9.67% 6.87%
2022 -6.02% 10.5%
2021 -10.6% -3.17%
2020 -17.3% -15.7%
2019 -8.57% -4.83%
2018 -11.3% -6.72%
2017 -13.4% -10.5%
2016 -16.6% -19.6%
2015 -17.5% -13.5%
2014 -3.32% -1.58%
2013 -8.55% 2.78%
2012 -5.77% 4.07%
2011 -4.9% 8.24%
2010 -9.29% 4.95%
2009 -5.36% -0.27%
2008 4.08% 14.7%
2007 1.52% 10.5%
2006 2.24% 12.2%
2005 2.8% 11.2%
2004 0.24% 5.43%
2003 -1.7% 5.92%
2002 -3.27% 5.31%
2001 0.7% 7.55%
2000 7.33% 12.2%
1999 -4.85% 0.3%
1998 -5.49% -4.37%
1997 -6.39% 4.77%
1996 0.24% 2.22%
1995 -3.99% -3.9%
1994 -5.18% -7.47%
1993 -2.77% -6.84%
1992 -5.41% -4.85%
1991 -3.47% 0.12%
1990 -6.79% 4.78%

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

GeoRank.org/economy/bahrain/oman | 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 Oman's surplus of $3.54B, or 3.31% of GDP.

Over the past 35 years, Bahrain recorded a fiscal deficit in 27 of those years, while Oman ran a deficit in 14 years. On average, Bahrain posted an annual deficit equal to 5.39% of GDP, compared to surplus of 0.99% of GDP for Oman.

Inflation comparison by year

Inflation
Bahrain

Oman
1x
Year Consumer prices inflation
Bahrain Oman
2024 0.92% 0.6%
2023 0.07% 1%
2022 3.63% 2.5%
2021 -0.61% 1.7%
2020 -2.32% -0.4%
2019 1.01% 0.5%
2018 2.09% 0.7%
2017 1.39% 1.5%
2016 2.79% 0.9%
2015 1.85% 0.1%
2014 2.65% 1.2%
2013 3.3% 1.3%
2012 2.76% 2.9%
2011 -0.4% 4.1%
2010 1.96% 3.3%
2009 2.8% 3.5%
2008 3.53% 12.6%
2007 3.26% 5.9%
2006 2.01% 3.2%
2005 2.59% 1.9%
2004 2.35% 0.8%
2003 1.59% 0.2%
2002 -0.5% -0.3%
2001 -1.21% -0.8%
2000 -0.7% -1.2%
1999 -1.29% 0.5%
1998 -0.37% 0.4%
1997 2.43% -0.4%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Bahrain has recorded an average annual inflation rate of 1.34%, compared with 1.72% in Oman. In 2024, inflation was 0.92% in Bahrain and 0.6% in Oman.

Top exports between countries

Bahrain
Export category Export value
Raw materials & minerals $221M
Animal & marine products $50.4M
Metals $37.1M
Machinery & equipment $23.9M
Chemicals & pharma $17.1M
Processed food, beverages & tobacco $15.8M
Textiles & consumer goods $5.53M
Precious metals & jewellery $3.62M
Wood & paper products $3.22M
Miscellaneous $1.4M
Oman
Export category Export value
Raw materials & minerals $23.7M
Processed food, beverages & tobacco $20.3M
Metals $19.3M
Machinery & equipment $16.1M
Animal & marine products $15M
Chemicals & pharma $13.8M
Textiles & consumer goods $7.48M
Precious metals & jewellery $4.61M
Raw agricultural goods $3.86M
Wood & paper products $1.47M

Balance of trade

Bahrain Oman
Current account balance
$2.28B
2024
$3.07B
2024
Current account balance ranking
44/190
2024
39/190
2024
Current account balance, % of GDP
+4.84%
2024
+2.86%
2024
Goods imports
$20.7B
2024
$39.5B
2024
Goods exports
$24.3B
2024
$65.2B
2024
Service imports
$12.4B
2024
$12.8B
2024
Service exports
$17B
2024
$5.64B
2024
Imports of goods and services, % of GDP
70.1%
2024
48.8%
2024
Exports of goods and services, % of GDP
87.7%
2024
66.1%
2024

Economic freedom indices

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

Bahrain Oman
Economic freedom 65.7 68.5
Economic freedom ranking 63/197 45/197
Property rights 60.9 71.8
Government integrity 45.9 49.4
Judicial effectiveness 30 28
Tax burden 99.9 97.6
Government spending 75 74.7
Fiscal health 0 97.5
Business freedom 75.9 67.8
Labor freedom 55.5 47.7
Monetary freedom 88.8 79.2
Trade freedom 86.8 78.4
Investment freedom 90 70
Financial freedom 80 60

Economic freedom comparison by year

Bahrain
Oman
1x
Year Economic freedom index
Bahrain Oman
2026 65.7 68.5
2025 65.6 65.4
2024 63.4 62.9
2023 62.5 58.5
2022 62 56.6
2021 69.9 64.6
2020 66.3 63.6
2019 66.4 61
2018 67.7 61
2017 68.5 62.1
2016 74.3 67.1
2015 73.4 66.7
2014 75.1 67.4
2013 75.5 68.1
2012 75.2 67.9
2011 77.7 69.8
2010 76.3 67.7
2009 74.8 67
2008 72.2 67.3
2007 71.2 65.8
2006 71.6 63.7
2005 71.2 66.5
2004 75.1 66.9
2003 76.3 64.6
2002 75.6 64
2001 75.9 67.7
2000 75.7 64.1
1999 75.2 64.9
1998 75.6 64.9
1997 76.1 64.5
1996 76.4 65.4
1995 76.2 70.2

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

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

The Economic Freedom Index for Bahrain is 65.7, ranking 63/197, compared to 68.5 for Oman, ranking 45/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahrain Oman
Services, % of GDP
53.2%
2024
46%
2024
Industry, % of GDP
42.3%
2024
54.2%
2024
Agriculture, forestry, and fishing, % of GDP
0.25%
2024
2.6%
2024
GNI, Atlas method
$44.6B
2024
$103B
2024
GNI per capita, PPP
$62,230
2024
$39,340
2024
Total reserves including gold
$4.95B
2024
$18.3B
2024
Total reserves ranking
102/177
2024
64/177
2024
Net foreign direct investment
-$2.43B
2024
-$12.6B
2024
Net inflows of foreign direct investment
$2.7B
2024
$12.5B
2024
Net outflows of foreign direct investment
$275M
2024
-$143M
2024
Gross capital formation, % of GDP
28.4%
2024
24.8%
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/oman | 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, 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.