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Economy of Barbados vs Bhutan compared: GDP & Debt

Updated on by Georank team

Barbados has a GDP of $7.5B compared to $3.01B for Bhutan, ranking 157/197 and 170/197 by economy size, respectively.

Barbados has $7.97B in government debt (106.3% of GDP), compared to $3.53B (110.4% of GDP) in Bhutan.

Barbados vs Bhutan GDP by year

Barbados
Bhutan
1x
Year GDP, current $
Barbados Bhutan
2024 $7,498,050,000 -
2023 $7,223,250,000 $3,012,896,789
2022 $6,884,900,000 $2,898,227,744
2021 $5,947,550,000 $2,768,802,960
2020 $5,407,050,000 $2,457,604,334
2019 $6,161,850,000 $2,735,683,570
2018 $6,001,950,000 $2,583,335,722
2017 $5,683,150,000 $2,591,358,009
2016 $5,674,600,000 $2,357,504,761
2015 $5,698,150,000 $2,187,815,803
2014 $5,620,600,000 $2,089,079,571
2013 $5,667,200,000 $1,943,696,952
2012 $5,761,450,000 $1,973,387,228
2011 $5,663,100,000 $1,977,728,659
2010 $5,672,900,000 $1,708,880,730
2009 $4,466,809,600 $1,331,343,798
2008 $4,790,410,400 $1,317,517,835
2007 $4,675,767,950 $1,255,767,964
2006 $4,217,323,400 $942,879,879
2005 $3,819,500,000 $860,391,000
2004 $3,444,500,000 $735,348,490
2003 $3,209,500,000 $651,935,430
2002 $3,106,500,000 $559,345,264
2001 $3,054,500,000 $496,110,226
2000 $3,059,500,000 $460,733,418
1999 $2,951,822,205 $399,311,200
1998 $2,817,083,478 $363,458,381
1997 $2,498,384,130 $352,229,077
1996 $2,363,645,403 $303,408,346
1995 $2,216,974,096 $290,490,984
1994 $2,151,344,901 $258,954,708
1993 $2,063,342,117 $225,973,693
1992 $1,957,000,000 $240,233,531
1991 $2,020,583,702 $240,294,286
1990 $2,012,131,457 $287,765,007
1989 $2,006,165,167 $264,798,626
1988 $1,812,757,918 $272,298,067
1987 $1,704,370,308 $242,742,766
1986 $1,547,755,183 $191,218,115
1985 $1,409,536,121 $163,288,815
1984 $1,346,890,071 $160,423,494
1983 $1,236,016,507 $156,704,290
1982 $1,163,923,830 $141,439,317
1981 $1,114,204,743 $139,174,178
1980 $1,012,280,615 $128,669,201
1979 $670,362,452 $105,377,995
1978 $552,883,707 $94,086,228
1977 $495,097,668 $97,884,434
1976 $435,911,269 $88,461,263
1975 $402,178,605 $86,820,762
1974 $311,804,630 $92,901,784
1973 $260,767,828 $78,900,289
1972 $213,725,217 $70,139,867
1971 $186,826,503 $66,289,450
1970 $166,210,203 $61,812,113
1969 $141,393,142 -
1968 $125,733,669 -
1967 $125,554,009 -
1966 $113,195,123 -
1965 $105,021,997 -
1964 $99,252,731 -
1963 $99,893,761 -
1962 $88,782,583 -
1961 $85,363,759 -
1960 $80,021,847 -

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

GeoRank.org/economy/barbados/bhutan | CC BY

GDP per capita in Barbados vs Bhutan by year

Barbados
GDP per capita

GDP per capita, PPP
Bhutan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Barbados Bhutan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $26,545 $24,823 - -
2023 $25,584 $23,660 $3,831 $16,215
2022 $24,387 $22,193 $3,711 $15,064
2021 $21,080 $17,683 $3,571 $13,459
2020 $19,194 $16,555 $3,192 $12,475
2019 $21,912 $19,971 $3,577 $12,909
2018 $21,381 $19,777 $3,400 $11,970
2017 $20,285 $18,437 $3,435 $11,677
2016 $20,296 $19,176 $3,152 $11,273
2015 $20,424 $19,186 $2,954 $10,214
2014 $20,193 $18,595 $2,849 $9,323
2013 $20,410 $19,032 $2,680 $8,667
2012 $20,804 $19,605 $2,751 $8,577
2011 $20,508 $20,316 $2,788 $7,935
2010 $20,611 $20,033 $2,436 $7,246
2009 $16,295 $20,324 $1,918 $6,466
2008 $17,566 $21,376 $1,920 $6,035
2007 $17,235 $20,949 $1,850 $5,729
2006 $15,620 $20,076 $1,406 $4,860
2005 $14,214 $18,450 $1,300 $4,523
2004 $12,886 $17,299 $1,130 $4,173
2003 $12,076 $16,707 $1,022 $3,942
2002 $11,760 $16,133 $896 $3,663
2001 $11,640 $15,866 $812 $3,338
2000 $11,675 $15,914 $772 $3,113
1999 $11,244 $14,873 $685 $3,017
1998 $10,734 $14,621 $638 $2,819
1997 $9,522 $13,941 $630 $2,683
1996 $9,012 $13,090 $553 $2,548
1995 $8,460 $12,375 $530 $2,374
1994 $8,223 $11,900 $467 $2,146
1993 $7,905 $11,448 $407 $2,001
1992 $7,519 $11,127 $416 $1,840
1991 $7,790 $11,576 $401 $1,657
1990 $7,781 $11,687 $488 $1,638
1989 $7,773 - $462 -
1988 $7,033 - $489 -
1987 $6,625 - $449 -
1986 $6,031 - $365 -
1985 $5,510 - $321 -
1984 $5,284 - $326 -
1983 $4,866 - $328 -
1982 $4,599 - $306 -
1981 $4,417 - $311 -
1980 $4,025 - $296.9 -
1979 $2,668 - $251.4 -
1978 $2,198 - $232.2 -
1977 $1,968 - $249.9 -
1976 $1,734 - $233.7 -
1975 $1,601 - $237.4 -
1974 $1,243 - $262.8 -
1973 $1,042 - $230.9 -
1972 $856 - $212.4 -
1971 $750 - $207.7 -
1970 $666 - $200.3 -
1969 $567 - - -
1968 $506 - - -
1967 $508 - - -
1966 $462 - - -
1965 $433 - - -
1964 $414 - - -
1963 $421 - - -
1962 $377 - - -
1961 $366 - - -
1960 $347 - - -

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

GeoRank.org/economy/barbados/bhutan | CC BY

Barbados' GDP per capita is $26,545, ranking 46/197, compared to $3,831 in Bhutan, ranking 132/197. Adjusted for purchasing power (GDP per capita PPP), Barbados ranks 84th at $24,823, while Bhutan ranks 109th at $16,215.

Economic indicators

Barbados Bhutan
Gross domestic product
$7.5B
2024
$3.01B
2023
GDP rank
157/197
2024
170/197
2023
GDP growth
2.48%
2023-2024
4.63%
2022-2023
GDP per capita
$26,545
2024
$3,831
2023
GDP per capita rank
46/197
2024
132/197
2023
GDP per capita, PPP
$24,823
2024
$16,215
2023
GDP per capita PPP rank
84/197
2024
109/197
2023
Government debt
$7.97B
2024
$3.53B
2023
Debt-to-GDP ratio
106.3%
2024
110.4%
2024
Government debt per person
$28,218
2024
$4,485
2023
Government debt per person rank
26/185
2024
87/185
2023
Average annual personal income after taxes
$18,869
2026
$5,506
2026
Market capitalization of domestic companies
$2.78B
2020
n/a
Number of billionaires
1
2025
n/a
Income share by richest 10%
25.8%
2016
22.7%
2022
Income share by poorest 10%
2.5%
2016
3.6%
2022
Government expenditure, % of GDP
30.2%
2024
27.1%
2024
Consumer prices inflation
-0.44%
2023-2024
4.3%
2023-2024
Central bank interest rate
2%
2020
n/a
Unemployment rate
6.54%
2023
3.28%
2024
Population
282798
803385

Spending and national debt comparison by year

Barbados
Spending

Debt
Bhutan
Spending

Debt
1x
Year % of GDP
Barbados Bhutan
Government spending Government debt Government spending Government debt
2024 30.2% 106.3% 27.1% 110.4%
2023 28.8% 113.4% 28.8% 117.1%
2022 30.3% 116.9% 32.1% 119.9%
2021 32.5% 130.2% 36.6% 124.5%
2020 30.3% 128.4% 30.9% 116%
2019 23.9% 109.5% 24.2% 100.8%
2018 26.9% 115% 31.7% 103.4%
2017 29.8% 143.6% 30.6% 104.1%
2016 30.7% 136.5% 30.5% 103%
2015 31.4% 131.9% 27.5% 90.2%
2014 29% 122% 28.9% 89.8%
2013 30.8% 118.6% 32.5% 87.4%
2012 30.6% 109.4% 35.1% 71.5%
2011 27.7% 98.7% 36.1% 62.3%
2010 29.7% 96% 41.5% 55.8%
2009 29.5% 88.5% 39.3% 61%
2008 28.1% 72.6% 36.1% 60.6%
2007 27.8% 69% 33.2% 67.3%
2006 27.2% 69.8% 33.4% 80.1%
2005 28.7% 68.2% 36.4% 80.8%
2004 28.5% 66.5% 31% 76%
2003 29.8% 66.6% 34.7% 68.5%
2002 31% 66.1% 39.3% 57.7%
2001 22% 62.6% 50.3% 52.4%
2000 20.8% 56.6% 43% 44%
1999 19.7% 50.1% 40.2% 39.2%
1998 19% 50.5% 31.1% 36.4%
1997 21.5% 56.9% 37.8% 33%
1996 20.5% 56.1% 37.9% 36.8%
1995 18.6% 55.9% 38.6% 38.7%
1994 17% 55% 37.9% 53.2%
1993 - - 35.2% 60.2%
1992 - - 34.5% 35.6%
1991 - - 30.8% 33.5%
1990 - - 35.8% 27.4%
1989 - - 46.8% 26.4%
1988 - - 45.3% 24.7%
1987 - - 47.5% 17.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1987–1992, retrieved 2026-02-20).

GeoRank.org/economy/barbados/bhutan | CC BY

In 2024, Barbados' government spending was $2.26B, accounting for 30.2% of its GDP, while Bhutan spent $869M, or 27.1% of GDP.

Debt-to-GDP ratio is 106.3% in Barbados and 110.4% in Bhutan, ranking 18/185 and 17/185, respectively.

Government deficit by year

Deficit/surplus
Barbados

Bhutan
1x
Year Deficit/surplus, % of GDP
Barbados Bhutan
2024 -0.89% -0.17%
2023 -1.71% -4.73%
2022 -1.96% -6.95%
2021 -4.65% -5.76%
2020 -4.16% -1.81%
2019 3.08% -1.49%
2018 -0.34% -1.52%
2017 -3.89% -4.49%
2016 -4.88% -2.31%
2015 -8.16% -0.49%
2014 -6.57% 2.46%
2013 -8.98% -4.55%
2012 -7.07% -2.1%
2011 -3.63% -3.02%
2010 -7.55% 1.92%
2009 -6.56% -0.8%
2008 -4.1% -2.57%
2007 -4.34% 0.79%
2006 -3.41% -0.07%
2005 -3.03% -6.96%
2004 -2.97% 1.8%
2003 -3.08% -10.2%
2002 -5.28% -4.33%
2001 4.07% -12.2%
2000 4.94% -3.39%
1999 5.39% -1.28%
1998 6.03% 1.28%
1997 5.64% -1.92%
1996 3.76% 2.55%
1995 6.22% -0.88%
1994 6.72% -0.13%
1993 - 4.71%
1992 - -3.47%
1991 - -0.48%
1990 - -7.21%
1989 - -10.1%
1988 - 1.33%
1987 - -0.56%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1987–1989, retrieved 2026-02-20).

GeoRank.org/economy/barbados/bhutan | CC BY

In 2023, Barbados' government deficit, the difference between spending and revenue, was $124M, equivalent to 1.71% of GDP. This compares to Bhutan's deficit of $142M, or 4.73% of GDP.

Over the past 30 years, Barbados recorded a fiscal deficit in 21 of those years, while Bhutan ran a deficit in 24 years. On average, Barbados posted an annual deficit equal to 1.68% of GDP, compared to deficit of 2.44% of GDP for Bhutan.

Inflation comparison by year

Inflation
Barbados

Bhutan
1x
Year Consumer prices inflation
Barbados Bhutan
2024 -0.44% 4.3%
2023 9.79% 4.5%
2022 - 5.9%
2021 - 8.2%
2020 - 3%
2019 4.1% 2.8%
2018 3.67% 3.6%
2017 4.66% 4.3%
2016 1.28% 3.3%
2015 -1.11% 6.7%
2014 1.77% 9.6%
2013 1.81% 8.1%
2012 4.53% 10.1%
2011 9.43% 8.6%
2010 5.82% 4.8%
2009 3.64% 7.1%
2008 8.11% 6.3%
2007 4.03% 5.2%
2006 7.31% 4.9%
2005 6.08% 4.8%
2004 1.39% 3.3%
2003 1.62% 2.5%
2002 0.13% 2.9%
2001 2.58% 3.7%
2000 2.44% 7.2%
1999 1.56% 9.1%
1998 -1.27% 7.6%
1997 7.71% 8.6%

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/barbados/bhutan | CC BY

Over the past 28 years, Barbados has recorded an average annual inflation rate of 3.63%, compared with 5.75% in Bhutan. In 2024, inflation was -0.44% in Barbados and 4.3% in Bhutan.

Balance of trade

Barbados Bhutan
Current account balance
-$296M
2017
-$670M
2024
Current account balance ranking
100/190
2017
114/190
2024
Current account balance, % of GDP
-5.22%
2017
-32%
2023
Goods imports
$1.53B
2017
$1.29B
2024
Goods exports
$705M
2017
$656M
2024
Service imports
$687M
2017
$228M
2024
Service exports
$1.52B
2017
$288M
2024
Imports of goods and services, % of GDP n/a
53.3%
2023
Exports of goods and services, % of GDP
14.5%
2025
28.4%
2023

Economic freedom indices

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

Barbados Bhutan
Economic freedom 70.4 57.5
Economic freedom ranking 34/197 115/197
Property rights 76.4 69.2
Government integrity 71.3 72.2
Judicial effectiveness 87.3 61.8
Tax burden 83.2 83.4
Government spending 74.5 74.1
Fiscal health 76.5 25.8
Business freedom 72.3 67.8
Labor freedom 54.3 60.1
Monetary freedom 80.8 71.6
Trade freedom 48.2 63.4
Investment freedom 60 20
Financial freedom 60 20

Economic freedom comparison by year

Barbados
Bhutan
1x
Year Economic freedom index
Barbados Bhutan
2026 70.4 57.5
2025 68.9 57.5
2024 66.8 55.4
2023 69.8 59
2022 71.3 59.3
2021 65 58.3
2020 61.4 62.1
2019 64.7 62.9
2018 57 61.8
2017 54.5 58.4
2016 68.3 59.5
2015 67.9 57.4
2014 68.3 56.7
2013 69.3 55
2012 69 56.6
2011 68.5 57.6
2010 68.3 57
2009 71.5 57.7
2008 71.3 -
2007 70 -
2006 71.9 -
2005 70.1 -
2004 69.4 -
2003 71.3 -
2002 73.6 -
2001 71.5 -
2000 69.5 -
1999 66.7 -
1998 67.9 -
1997 64.5 -
1996 62.3 -

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

GeoRank.org/economy/barbados/bhutan | CC BY

The Economic Freedom Index for Barbados is 70.4, ranking 34/197, compared to 57.5 for Bhutan, ranking 115/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Barbados Bhutan
Services, % of GDP
75.5%
2024
52.8%
2023
Industry, % of GDP
12.4%
2024
29.4%
2023
Agriculture, forestry, and fishing, % of GDP
1.58%
2024
15%
2023
GNI, Atlas method
$7.1B
2024
$2.93B
2023
GNI per capita, PPP
$23,850
2024
$15,320
2023
Total reserves including gold
$1.65B
2024
$941M
2024
Total reserves ranking
131/177
2024
143/177
2024
Net foreign direct investment
-$208M
2017
-$22.8M
2024
Net inflows of foreign direct investment
$303M
2024
$2.82M
2024
Net outflows of foreign direct investment
$18.6M
2024
$0
2024
Servicing debt to the IMF, % of GNI n/a
4.96%
2023
Poverty at national poverty lines
25.7%
2016
12.4%
2022
Gross capital formation, % of GDP n/a
45.3%
2023

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/barbados/bhutan | 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 (1996–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1987–1992, retrieved 2026-02-20)
  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.