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Economy of Bahrain vs Rwanda compared: GDP & Debt

Updated on by Georank team

Bahrain has a GDP of $47.1B compared to $14.3B for Rwanda, ranking 96/197 and 144/197 by economy size, respectively.

Bahrain has $62.8B in government debt (133.4% of GDP), compared to $9.58B (67.2% of GDP) in Rwanda.

Bahrain vs Rwanda GDP by year

Bahrain
Rwanda
1x
Year GDP, current $
Bahrain Rwanda
2024 $47,109,734,309 $14,251,642,235
2023 $46,192,260,638 $14,331,722,703
2022 $46,458,191,489 $13,316,161,002
2021 $40,840,212,766 $11,078,787,090
2020 $35,837,632,979 $10,174,386,857
2019 $40,446,808,511 $10,349,300,277
2018 $39,567,978,723 $9,637,904,521
2017 $37,204,813,830 $9,252,833,891
2016 $33,884,680,851 $8,695,272,058
2015 $32,523,297,872 $8,543,760,200
2014 $34,772,526,596 $8,238,966,124
2013 $33,823,324,468 $7,819,964,030
2012 $31,963,404,255 $7,654,761,050
2011 $29,914,680,851 $6,884,913,658
2010 $26,805,984,043 $6,124,756,654
2009 $22,938,218,085 $5,674,476,969
2008 $25,710,904,255 $5,179,854,065
2007 $21,730,000,000 $4,070,507,895
2006 $18,504,760,638 $3,319,784,539
2005 $15,968,723,404 $2,933,819,766
2004 $13,150,159,574 $2,376,496,067
2003 $11,074,813,830 $2,138,237,279
2002 $9,593,510,638 $1,966,003,468
2001 $8,976,196,809 $1,966,600,715
2000 $9,062,898,936 $2,068,836,754
1999 $7,528,469,149 $2,157,108,263
1998 $7,031,309,043 $1,989,343,546
1997 $7,219,407,713 $1,851,558,197
1996 $6,938,166,755 $1,382,334,879
1995 $6,651,180,851 $1,293,535,193
1994 $6,330,627,926 $753,636,370
1993 $5,913,001,064 $1,971,525,712
1992 $5,402,232,447 $2,029,026,962
1991 $5,248,911,170 $1,911,600,237
1990 $4,809,511,005 $2,550,185,679
1989 $4,393,093,963 $2,405,022,593
1988 $4,209,834,173 $2,395,492,687
1987 $3,856,922,694 $2,157,432,668
1986 $3,470,746,843 $1,944,710,684
1985 $4,152,376,484 $1,715,626,331
1984 $4,440,874,566 $1,587,413,084
1983 $4,247,030,468 $1,479,687,587
1982 $4,145,421,080 $1,407,243,139
1981 $3,943,109,532 $1,407,062,527
1980 $3,493,834,468 $1,254,765,642
1979 $2,710,160,739 $1,109,346,131
1978 $2,272,042,965 $905,709,076
1977 $1,989,060,283 $746,650,613
1976 $1,581,709,519 $637,753,853
1975 $1,099,107,601 $571,863,500
1974 $1,042,176,884 $308,458,423
1973 $761,132,545 $290,746,157
1972 $534,081,184 $246,457,838
1971 $422,181,562 $222,952,504
1970 $391,577,364 $219,900,006
1969 - $188,700,037
1968 - $172,200,018
1967 - $159,560,018
1966 - $124,525,703
1965 - $148,799,980
1964 - $129,999,994
1963 - $128,000,000
1962 - $125,000,008
1961 - $122,000,016
1960 - $119,000,024

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

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

GDP per capita in Bahrain vs Rwanda by year

Bahrain
GDP per capita

GDP per capita, PPP
Rwanda
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bahrain Rwanda
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $29,654 $66,941 $1,000 $3,711
2023 $29,290 $64,171 $1,027 $3,399
2022 $30,471 $61,678 $975 $3,099
2021 $27,148 $54,955 $830 $2,733
2020 $24,343 $53,436 $779 $2,285
2019 $27,260 $56,600 $810 $2,336
2018 $26,324 $51,993 $772 $2,125
2017 $24,785 $50,185 $758 $1,968
2016 $23,800 $47,429 $730 $1,866
2015 $23,734 $48,034 $734 $1,781
2014 $26,452 $54,299 $725 $1,678
2013 $26,990 $56,310 $705 $1,512
2012 $26,439 $56,713 $707 $1,455
2011 $25,033 $52,677 $651 $1,413
2010 $21,819 $49,255 $594 $1,314
2009 $19,465 $48,626 $564 $1,241
2008 $23,299 $50,330 $528 $1,191
2007 $20,908 $49,347 $426 $1,079
2006 $19,267 $48,009 $357 $1,002
2005 $17,966 $47,268 $324 $914
2004 $15,964 $46,317 $269.5 $832
2003 $14,486 $45,427 $249 $775
2002 $13,501 $45,091 $234 $760
2001 $13,573 $46,162 $237.3 $670
2000 $14,214 $45,688 $251.9 $609
1999 $12,123 $43,561 $264.7 $554
1998 $11,625 $42,281 $246.2 $528
1997 $12,255 $40,965 $238.7 $500
1996 $12,092 $40,106 $206 $499
1995 $11,901 $38,839 $228 $514
1994 $11,629 $37,579 $111 $311
1993 $11,152 $37,870 $247 $521
1992 $10,460 $33,648 $264.1 $575
1991 $10,434 $31,657 $254 $542
1990 $9,343 $26,902 $346 $549
1989 $8,833 - $335 -
1988 $8,772 - $344 -
1987 $8,333 - $320 -
1986 $7,777 - $297.7 -
1985 $9,649 - $271.6 -
1984 $10,697 - $259.9 -
1983 $10,599 - $250.6 -
1982 $10,712 - $246.4 -
1981 $10,557 - $254.6 -
1980 $9,733 - $234.4 -
1979 $7,891 - $213.8 -
1978 $6,926 - $179.9 -
1977 $6,358 - $152.7 -
1976 $5,310 - $134.4 -
1975 $3,880 - $124.1 -
1974 $3,874 - $68.9 -
1973 $2,981 - $66.9 -
1972 $2,206 - $58.4 -
1971 $1,830 - $54.4 -
1970 $1,742 - $55.2 -
1969 - - $48.9 -
1968 - - $46 -
1967 - - $44 -
1966 - - $35.4 -
1965 - - $43.5 -
1964 - - $39 -
1963 - - $39.3 -
1962 - - $39.2 -
1961 - - $39.3 -
1960 - - $39.4 -

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

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

Bahrain's GDP per capita is $29,654, ranking 42/197, compared to $1,000 in Rwanda, ranking 178/197. Adjusted for purchasing power (GDP per capita PPP), Bahrain ranks 26th at $66,941, while Rwanda ranks 168th at $3,711.

Economic indicators

Bahrain Rwanda
Gross domestic product
$47.1B
2024
$14.3B
2024
GDP rank
96/197
2024
144/197
2024
GDP growth
2.6%
2023-2024
8.89%
2023-2024
GDP per capita
$29,654
2024
$1,000
2024
GDP per capita rank
42/197
2024
178/197
2024
GDP per capita, PPP
$66,941
2024
$3,711
2024
GDP per capita PPP rank
26/197
2024
168/197
2024
Government debt
$62.8B
2024
$9.58B
2024
Debt-to-GDP ratio
133.4%
2024
67.2%
2024
Government debt per person
$39,552
2024
$672
2024
Government debt per person rank
14/185
2024
157/185
2024
Average annual personal income after taxes
$23,253
2026
$2,194
2026
Market capitalization of domestic companies
$20.4B
2024
$2.75B
2024
Income share by richest 10% n/a
33.4%
2023
Income share by poorest 10% n/a
3.1%
2023
Government expenditure, % of GDP
29.1%
2024
28.8%
2024
Consumer prices inflation
0.92%
2023-2024
1.77%
2023-2024
Central bank interest rate
4.25%
2025
6.75%
2025
Unemployment rate
1.2%
2012
11.3%
2024
Population
1669503
14975051

Spending and national debt comparison by year

Bahrain
Spending

Debt
Rwanda
Spending

Debt
1x
Year % of GDP
Bahrain Rwanda
Government spending Government debt Government spending Government debt
2024 29.1% 133.4% 28.8% 67.2%
2023 29.1% 123% 27% 63.4%
2022 28.4% 111.6% 29.7% 60.9%
2021 30.6% 122.3% 31.6% 67.3%
2020 34.6% 125.7% 33.5% 68.7%
2019 31.2% 97.1% 28.2% 53.6%
2018 32.1% 90.4% 26.4% 49.2%
2017 30.7% 84% 25.1% 45.6%
2016 33.3% 77.4% 25.1% 41.1%
2015 34.8% 63.2% 26.6% 33.1%
2014 27.3% 42.6% 27.5% 29.1%
2013 32% 42.3% 26.2% 26.7%
2012 31.1% 34.8% 24.6% 19.1%
2011 30.2% 31.6% 24.7% 18.7%
2010 31.1% 28.8% 23.8% 18.8%
2009 24.6% 20.5% 22.3% 18.5%
2008 22.7% 12.1% 22.5% 18.3%
2007 22.4% 15.7% 22.4% 22.1%
2006 23.1% 19.4% 20.6% 22.5%
2005 23.9% 23.2% 19.9% 58.9%
2004 25% 28.2% 17.9% 80.9%
2003 28.1% 31.1% 18.5% 79.5%
2002 30.6% 27.2% 20.5% 92%
2001 26.5% 25% 19.1% 84%
2000 22.2% 24.7% 18.2% 86%
1999 27.1% 24.7% 22.4% 78.4%
1998 25.7% 20% 16.4% 70.1%
1997 31% 14.8% 17% 72.2%
1996 22.7% 13.1% 19.5% 83.4%
1995 25.1% 13.6% 18% 100.8%
1994 26.1% 5.62% 13.3% -
1993 26.7% 5.95% 20.3% -
1992 29.4% 6.45% 21.5% -
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/rwanda | CC BY

In 2024, Bahrain's government spending was $13.7B, accounting for 29.1% of its GDP, while Rwanda spent $4.1B, or 28.8% of GDP.

Debt-to-GDP ratio is 133.4% in Bahrain and 67.2% in Rwanda, ranking 9/185 and 65/185, respectively.

Government deficit by year

Deficit/surplus
Bahrain

Rwanda
1x
Year Deficit/surplus, % of GDP
Bahrain Rwanda
2024 -10.6% -6.57%
2023 -9.67% -5.04%
2022 -6.02% -5.74%
2021 -10.6% -7%
2020 -17.3% -9.54%
2019 -8.57% -5.08%
2018 -11.3% -2.57%
2017 -13.4% -2.52%
2016 -16.6% -2.27%
2015 -17.5% -2.68%
2014 -3.32% -3.92%
2013 -8.55% -1.27%
2012 -5.77% -2.38%
2011 -4.9% -0.86%
2010 -9.29% -0.64%
2009 -5.36% 0.26%
2008 4.08% 0.83%
2007 1.52% -1.56%
2006 2.24% -0.03%
2005 2.8% 1.12%
2004 0.24% 2.27%
2003 -1.7% -1.23%
2002 -3.27% -2.03%
2001 0.7% -1.8%
2000 7.33% -0.22%
1999 -4.85% -4.41%
1998 -5.49% -2.59%
1997 -6.39% -2.22%
1996 0.24% -5.01%
1995 -3.99% -2.04%
1994 -5.18% -9.54%
1993 -2.77% -6.6%
1992 -5.41% -7.21%
1991 -3.47% -
1990 -6.79% -

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

GeoRank.org/economy/bahrain/rwanda | 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 Rwanda's deficit of $936M, or 6.57% of GDP.

Over the past 33 years, Bahrain recorded a fiscal deficit in 25 of those years, while Rwanda ran a deficit in 29 years. On average, Bahrain posted an annual deficit equal to 5.41% of GDP, compared to deficit of 3.03% of GDP for Rwanda.

Inflation comparison by year

Inflation
Bahrain

Rwanda
1x
Year Consumer prices inflation
Bahrain Rwanda
2024 0.92% 1.77%
2023 0.07% 19.8%
2022 3.63% 17.7%
2021 -0.61% -0.39%
2020 -2.32% 9.85%
2019 1.01% 3.35%
2018 2.09% -0.31%
2017 1.39% 8.28%
2016 2.79% 7.17%
2015 1.85% 2.53%
2014 2.65% 2.35%
2013 3.3% 5.92%
2012 2.76% 10.3%
2011 -0.4% 3.08%
2010 1.96% -0.25%
2009 2.8% 12.9%
2008 3.53% 15.4%
2007 3.26% 9.08%
2006 2.01% 8.88%
2005 2.59% 9.01%
2004 2.35% 12.3%
2003 1.59% 7.45%
2002 -0.5% 1.99%
2001 -1.21% 3.34%
2000 -0.7% 3.9%
1999 -1.29% -2.41%
1998 -0.37% 6.21%
1997 2.43% 12%

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

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

Over the past 28 years, Bahrain has recorded an average annual inflation rate of 1.34%, compared with 6.83% in Rwanda. In 2024, inflation was 0.92% in Bahrain and 1.77% in Rwanda.

Top exports between countries

Bahrain
Export category Export value
Machinery & equipment $15K
Chemicals & pharma $1K
Rwanda
Export category Export value

Balance of trade

Bahrain Rwanda
Current account balance
$2.28B
2024
-$1.81B
2024
Current account balance ranking
44/190
2024
140/190
2024
Current account balance, % of GDP
+4.84%
2024
-12.7%
2024
Goods imports
$20.7B
2024
$5.55B
2024
Goods exports
$24.3B
2024
$3.2B
2024
Service imports
$12.4B
2024
$991M
2024
Service exports
$17B
2024
$1.08B
2024
Imports of goods and services, % of GDP
70.1%
2024
39.1%
2024
Exports of goods and services, % of GDP
87.7%
2024
30.8%
2024

Economic freedom indices

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

Bahrain Rwanda
Economic freedom 65.7 56.5
Economic freedom ranking 63/197 121/197
Property rights 60.9 60.3
Government integrity 45.9 53.9
Judicial effectiveness 30 27.5
Tax burden 99.9 80.6
Government spending 75 75.7
Fiscal health 0 37.5
Business freedom 75.9 60.1
Labor freedom 55.5 49.1
Monetary freedom 88.8 72.3
Trade freedom 86.8 61.8
Investment freedom 90 60
Financial freedom 80 40

Economic freedom comparison by year

Bahrain
Rwanda
1x
Year Economic freedom index
Bahrain Rwanda
2026 65.7 56.5
2025 65.6 54.8
2024 63.4 51.6
2023 62.5 52.2
2022 62 57.1
2021 69.9 68.3
2020 66.3 70.9
2019 66.4 71.1
2018 67.7 69.1
2017 68.5 67.6
2016 74.3 63.1
2015 73.4 64.8
2014 75.1 64.7
2013 75.5 64.1
2012 75.2 64.9
2011 77.7 62.7
2010 76.3 59.1
2009 74.8 54.2
2008 72.2 54.2
2007 71.2 52.4
2006 71.6 52.8
2005 71.2 51.7
2004 75.1 53.3
2003 76.3 47.8
2002 75.6 50.4
2001 75.9 45.4
2000 75.7 42.3
1999 75.2 39.8
1998 75.6 39.1
1997 76.1 38.3
1996 76.4 -
1995 76.2 -

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

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

The Economic Freedom Index for Bahrain is 65.7, ranking 63/197, compared to 56.5 for Rwanda, ranking 121/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bahrain Rwanda
Services, % of GDP
53.2%
2024
47.6%
2024
Industry, % of GDP
42.3%
2024
21%
2024
Agriculture, forestry, and fishing, % of GDP
0.25%
2024
24.6%
2024
GNI, Atlas method
$44.6B
2024
$14.8B
2024
GNI per capita, PPP
$62,230
2024
$3,620
2024
Total reserves including gold
$4.95B
2024
$2.41B
2024
Total reserves ranking
102/177
2024
123/177
2024
Net foreign direct investment
-$2.43B
2024
-$560M
2024
Net inflows of foreign direct investment
$2.7B
2024
$573M
2024
Net outflows of foreign direct investment
$275M
2024
$13.2M
2024
Servicing debt to the IMF, % of GNI n/a
3.09%
2024
Poverty at national poverty lines n/a
27.4%
2023
Gross capital formation, % of GDP
28.4%
2024
25.9%
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/rwanda | 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.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

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.