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Economy of Barbados vs Equatorial Guinea compared: GDP & Debt

Updated on by Georank team

Barbados has a GDP of $7.5B compared to $12.8B for Equatorial Guinea, ranking 157/197 and 148/197 by economy size, respectively.

Barbados has $7.97B in government debt (106.3% of GDP), compared to $4.65B (36.4% of GDP) in Equatorial Guinea.

Barbados vs Equatorial Guinea GDP by year

Barbados
Equatorial Guinea
1x
Year GDP, current $
Barbados Equatorial Guinea
2024 $7,498,050,000 $12,765,777,677
2023 $7,223,250,000 $12,337,550,584
2022 $6,884,900,000 $13,687,643,436
2021 $5,947,550,000 $12,215,878,033
2020 $5,407,050,000 $9,893,816,008
2019 $6,161,850,000 $11,364,133,550
2018 $6,001,950,000 $13,097,012,134
2017 $5,683,150,000 $12,200,913,879
2016 $5,674,600,000 $11,240,808,848
2015 $5,698,150,000 $13,185,496,881
2014 $5,620,600,000 $21,765,453,082
2013 $5,667,200,000 $21,948,834,284
2012 $5,761,450,000 $22,388,344,144
2011 $5,663,100,000 $21,357,343,669
2010 $5,672,900,000 $16,314,443,436
2009 $4,466,809,600 $15,027,795,173
2008 $4,790,410,400 $19,749,893,536
2007 $4,675,767,950 $13,071,718,759
2006 $4,217,323,400 $10,086,528,699
2005 $3,819,500,000 $8,217,369,093
2004 $3,444,500,000 $4,410,764,339
2003 $3,209,500,000 $2,484,745,935
2002 $3,106,500,000 $1,806,742,742
2001 $3,054,500,000 $1,461,139,022
2000 $3,059,500,000 $1,045,998,496
1999 $2,951,822,205 $621,117,886
1998 $2,817,083,478 $370,687,634
1997 $2,498,384,130 $442,337,871
1996 $2,363,645,403 $232,463,023
1995 $2,216,974,096 $141,853,361
1994 $2,151,344,901 $100,807,003
1993 $2,063,342,117 $136,047,906
1992 $1,957,000,000 $134,707,184
1991 $2,020,583,702 $110,906,029
1990 $2,012,131,457 $112,119,411
1989 $2,006,165,167 $88,265,975
1988 $1,812,757,918 $100,534,657
1987 $1,704,370,308 $93,345,860
1986 $1,547,755,183 $76,407,396
1985 $1,409,536,121 $62,118,570
1984 $1,346,890,071 $50,320,914
1983 $1,236,016,507 $44,442,457
1982 $1,163,923,830 $44,294,648
1981 $1,114,204,743 $36,731,423
1980 $1,012,280,615 $50,642,881
1979 $670,362,452 -
1978 $552,883,707 -
1977 $495,097,668 $103,987,520
1976 $435,911,269 $103,653,050
1975 $402,178,605 $104,295,643
1974 $311,804,630 $94,159,863
1973 $260,767,828 $81,203,227
1972 $213,725,217 $65,429,198
1971 $186,826,503 $64,946,955
1970 $166,210,203 $66,331,429
1969 $141,393,142 $67,225,714
1968 $125,733,669 $67,514,286
1967 $125,554,009 $72,317,447
1966 $113,195,123 $69,110,000
1965 $105,021,997 $64,748,333
1964 $99,252,731 $51,915,000
1963 $99,893,761 $44,266,667
1962 $88,782,583 $37,253,333
1961 $85,363,759 -
1960 $80,021,847 -

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

GeoRank.org/economy/barbados/equatorial-guinea | CC BY

GDP per capita in Barbados vs Equatorial Guinea by year

Barbados
GDP per capita

GDP per capita, PPP
Equatorial Guinea
GDP per capita

GDP per capita, PPP
1x
Year Current $
Barbados Equatorial Guinea
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $26,545 $24,823 $6,745 $17,567
2023 $25,584 $23,660 $6,678 $17,412
2022 $24,387 $22,193 $7,589 $18,140
2021 $21,080 $17,683 $6,946 $16,821
2020 $19,194 $16,555 $5,764 $13,677
2019 $21,912 $19,971 $6,804 $16,451
2018 $21,381 $19,777 $8,102 $18,413
2017 $20,285 $18,437 $7,809 $18,435
2016 $20,296 $19,176 $7,453 $16,649
2015 $20,424 $19,186 $9,069 $19,479
2014 $20,193 $18,595 $15,549 $27,177
2013 $20,410 $19,032 $16,304 $27,910
2012 $20,804 $19,605 $17,309 $30,012
2011 $20,508 $20,316 $17,198 $27,242
2010 $20,611 $20,033 $13,720 $26,168
2009 $16,295 $20,324 $13,233 $29,722
2008 $17,566 $21,376 $18,211 $30,523
2007 $17,235 $20,949 $12,617 $26,611
2006 $15,620 $20,076 $10,185 $23,511
2005 $14,214 $18,450 $8,674 $22,137
2004 $12,886 $17,299 $4,901 $19,354
2003 $12,076 $16,707 $2,931 $14,496
2002 $11,760 $16,133 $2,264 $13,255
2001 $11,640 $15,866 $1,949 $11,627
2000 $11,675 $15,914 $1,487 $7,420
1999 $11,244 $14,873 $931 $6,470
1998 $10,734 $14,621 $578 $5,280
1997 $9,522 $13,941 $717 $4,387
1996 $9,012 $13,090 $392 $1,793
1995 $8,460 $12,375 $248.3 $1,098
1994 $8,223 $11,900 $183.2 $951
1993 $7,905 $11,448 $256.7 $828
1992 $7,519 $11,127 $263.7 $756
1991 $7,790 $11,576 $225.3 $569
1990 $7,781 $11,687 $236.4 $577
1989 $7,773 - $193.2 -
1988 $7,033 - $228.7 -
1987 $6,625 - $220.9 -
1986 $6,031 - $188.8 -
1985 $5,510 - $161.1 -
1984 $5,284 - $137.9 -
1983 $4,866 - $129.4 -
1982 $4,599 - $137.5 -
1981 $4,417 - $121.1 -
1980 $4,025 - $175.5 -
1979 $2,668 - - -
1978 $2,198 - - -
1977 $1,968 - $376 -
1976 $1,734 - $369 -
1975 $1,601 - $362 -
1974 $1,243 - $319 -
1973 $1,042 - $268.6 -
1972 $856 - $211.4 -
1971 $750 - $205.6 -
1970 $666 - $206.8 -
1969 $567 - $208.4 -
1968 $506 - $211.7 -
1967 $508 - $231.9 -
1966 $462 - $226.7 -
1965 $433 - $217.1 -
1964 $414 - $177.8 -
1963 $421 - $154.8 -
1962 $377 - $132.9 -
1961 $366 - - -
1960 $347 - - -

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

GeoRank.org/economy/barbados/equatorial-guinea | CC BY

Barbados' GDP per capita is $26,545, ranking 46/197, compared to $6,745 in Equatorial Guinea, ranking 106/197. Adjusted for purchasing power (GDP per capita PPP), Barbados ranks 84th at $24,823, while Equatorial Guinea ranks 106th at $17,567.

Economic indicators

Barbados Equatorial Guinea
Gross domestic product
$7.5B
2024
$12.8B
2024
GDP rank
157/197
2024
148/197
2024
GDP growth
2.48%
2023-2024
0.91%
2023-2024
GDP per capita
$26,545
2024
$6,745
2024
GDP per capita rank
46/197
2024
106/197
2024
GDP per capita, PPP
$24,823
2024
$17,567
2024
GDP per capita PPP rank
84/197
2024
106/197
2024
Government debt
$7.97B
2024
$4.65B
2024
Debt-to-GDP ratio
106.3%
2024
36.4%
2024
Government debt per person
$28,218
2024
$2,458
2024
Government debt per person rank
26/185
2024
110/185
2024
Average annual personal income after taxes
$18,869
2026
$5,042
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
29.1%
2022
Income share by poorest 10%
2.5%
2016
2.6%
2022
Government expenditure, % of GDP
30.2%
2024
18.5%
2024
Consumer prices inflation
-0.44%
2023-2024
3.4%
2023-2024
Central bank interest rate
2%
2020
n/a
Unemployment rate
6.54%
2023
8.6%
2014
Population
282798
1998075

Spending and national debt comparison by year

Barbados
Spending

Debt
Equatorial Guinea
Spending

Debt
1x
Year % of GDP
Barbados Equatorial Guinea
Government spending Government debt Government spending Government debt
2024 30.2% 106.3% 18.5% 36.4%
2023 28.8% 113.4% 19.2% 39.1%
2022 30.3% 116.9% 14.8% 29.8%
2021 32.5% 130.2% 12.7% 42.3%
2020 30.3% 128.4% 16.2% 49.4%
2019 23.9% 109.5% 16.8% 43.2%
2018 26.9% 115% 19.1% 40.6%
2017 29.8% 143.6% 20.1% 36.2%
2016 30.7% 136.5% 27.8% 41.1%
2015 31.4% 131.9% 41.6% 31.7%
2014 29% 122% 31.6% 12.6%
2013 30.8% 118.6% 29.3% 6.27%
2012 30.6% 109.4% 35.2% 7.1%
2011 27.7% 98.7% 27.5% 7.17%
2010 29.7% 96% 31.2% 7.89%
2009 29.5% 88.5% 39.8% 4.34%
2008 28.1% 72.6% 19.9% 0.49%
2007 27.8% 69% 19.7% 0.75%
2006 27.2% 69.8% 18.1% 1.22%
2005 28.7% 68.2% 14.1% 2.85%
2004 28.5% 66.5% 15.5% 4.54%
2003 29.8% 66.6% 11.8% 6.77%
2002 31% 66.1% 11.3% 19.4%
2001 22% 62.6% 13.5% 25.5%
2000 20.8% 56.6% 22.6% 36.6%
1999 19.7% 50.1% 18.7% 60.5%
1998 19% 50.5% 35.1% 59.2%
1997 21.5% 56.9% 14.8% 46.3%
1996 20.5% 56.1% 22.9% 91.2%
1995 18.6% 55.9% 141.5% 136.9%
1994 17% 55% 510% 216%
1993 - - 256.3% 152.6%
1992 - - 595% 136.9%
1991 - - 284.5% 169.5%
1990 - - 212.9% 157%
1989 - - 116.8% 187%
1988 - - 227.9% 154.5%
1987 - - 183% 141.3%
1986 - - 119% 152.5%
1985 - - 115.4% 183.8%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1985–1989, retrieved 2026-02-20).

GeoRank.org/economy/barbados/equatorial-guinea | CC BY

In 2024, Barbados' government spending was $2.26B, accounting for 30.2% of its GDP, while Equatorial Guinea spent $2.36B, or 18.5% of GDP.

Debt-to-GDP ratio is 106.3% in Barbados and 36.4% in Equatorial Guinea, ranking 18/185 and 143/185, respectively.

Government deficit by year

Deficit/surplus
Barbados

Equatorial Guinea
1x
Year Deficit/surplus, % of GDP
Barbados Equatorial Guinea
2024 -0.89% -0.55%
2023 -1.71% 2.39%
2022 -1.96% 11.7%
2021 -4.65% 2.65%
2020 -4.16% -1.77%
2019 3.08% 1.82%
2018 -0.34% 0.52%
2017 -3.89% -2.59%
2016 -4.88% -10.9%
2015 -8.16% -15.1%
2014 -6.57% -7.54%
2013 -8.98% -4.4%
2012 -7.07% -7.24%
2011 -3.63% 0.83%
2010 -7.55% -4.53%
2009 -6.56% -6.47%
2008 -4.1% 14.6%
2007 -4.34% 17.2%
2006 -3.41% 21.8%
2005 -3.03% 18.5%
2004 -2.97% 9.22%
2003 -3.08% 9.99%
2002 -5.28% 17.6%
2001 4.07% 14.9%
2000 4.94% -2.67%
1999 5.39% -0.19%
1998 6.03% -7.65%
1997 5.64% 3.21%
1996 3.76% -6.36%
1995 6.22% -123.4%
1994 6.72% -487%
1993 - -217.9%
1992 - -557%
1991 - -236%
1990 - -160.2%
1989 - -76.2%
1988 - -208.5%
1987 - -158%
1986 - -97.3%
1985 - -89.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1985–1989, retrieved 2026-02-20).

GeoRank.org/economy/barbados/equatorial-guinea | CC BY

In 2024, Barbados' government deficit, the difference between spending and revenue, was $66.8M, equivalent to 0.89% of GDP. This compares to Equatorial Guinea's deficit of $70.8M, or 0.55% of GDP.

Over the past 31 years, Barbados recorded a fiscal deficit in 22 of those years, while Equatorial Guinea ran a deficit in 16 years. On average, Barbados posted an annual deficit equal to 1.66% of GDP, compared to deficit of 17.5% of GDP for Equatorial Guinea.

Inflation comparison by year

Inflation
Barbados

Equatorial Guinea
1x
Year Consumer prices inflation
Barbados Equatorial Guinea
2024 -0.44% 3.4%
2023 9.79% 2.4%
2022 - 4.9%
2021 - -0.1%
2020 - 4.8%
2019 4.1% 1.2%
2018 3.67% 1.3%
2017 4.66% 0.7%
2016 1.28% 1.4%
2015 -1.11% 1.7%
2014 1.77% 4.3%
2013 1.81% 3.2%
2012 4.53% 3.4%
2011 9.43% 4.8%
2010 5.82% 5.3%
2009 3.64% 5.7%
2008 8.11% 4.7%
2007 4.03% 2.8%
2006 7.31% 4.5%
2005 6.08% 5.6%
2004 1.39% 4.2%
2003 1.62% 7.3%
2002 0.13% 7.6%
2001 2.58% 8.7%
2000 2.44% 4.8%
1999 1.56% 0.4%
1998 -1.27% 7.9%
1997 7.71% 3%

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/equatorial-guinea | CC BY

Over the past 28 years, Barbados has recorded an average annual inflation rate of 3.63%, compared with 3.93% in Equatorial Guinea. In 2024, inflation was -0.44% in Barbados and 3.4% in Equatorial Guinea.

Balance of trade

Barbados Equatorial Guinea
Current account balance
-$296M
2017
-$344M
1996
Current account balance ranking
100/190
2017
101/190
1996
Current account balance, % of GDP
-5.22%
2017
-148%
1996
Goods imports
$1.53B
2017
$292M
1996
Goods exports
$705M
2017
$175M
1996
Service imports
$687M
2017
$185M
1996
Service exports
$1.52B
2017
$4.88M
1996
Imports of goods and services, % of GDP n/a
25.4%
2024
Exports of goods and services, % of GDP
14.5%
2025
35.2%
2024

Economic freedom indices

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

Barbados Equatorial Guinea
Economic freedom 70.4 47.4
Economic freedom ranking 34/197 175/197
Property rights 76.4 16.9
Government integrity 71.3 6.9
Judicial effectiveness 87.3 7.2
Tax burden 83.2 81
Government spending 74.5 90.8
Fiscal health 76.5 97.3
Business freedom 72.3 35.9
Labor freedom 54.3 45.2
Monetary freedom 80.8 73.5
Trade freedom 48.2 43.6
Investment freedom 60 40
Financial freedom 60 30

Economic freedom comparison by year

Barbados
Equatorial Guinea
1x
Year Economic freedom index
Barbados Equatorial Guinea
2026 70.4 47.4
2025 68.9 47.7
2024 66.8 47.7
2023 69.8 48.3
2022 71.3 47.2
2021 65 49.2
2020 61.4 48.3
2019 64.7 41
2018 57 42
2017 54.5 45
2016 68.3 43.7
2015 67.9 40.4
2014 68.3 44.4
2013 69.3 42.3
2012 69 42.8
2011 68.5 47.5
2010 68.3 48.6
2009 71.5 51.3
2008 71.3 51.6
2007 70 53.2
2006 71.9 51.5
2005 70.1 53.3
2004 69.4 53.3
2003 71.3 53.1
2002 73.6 46.4
2001 71.5 47.9
2000 69.5 45.6
1999 66.7 45.1
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/equatorial-guinea | CC BY

The Economic Freedom Index for Barbados is 70.4, ranking 34/197, compared to 47.4 for Equatorial Guinea, ranking 175/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Barbados Equatorial Guinea
Services, % of GDP
75.5%
2024
51.1%
2024
Industry, % of GDP
12.4%
2024
45.8%
2024
Agriculture, forestry, and fishing, % of GDP
1.58%
2024
3.15%
2024
GNI, Atlas method
$7.1B
2024
$8.96B
2024
GNI per capita, PPP
$23,850
2024
$12,330
2024
Total reserves including gold
$1.65B
2024
$1.54B
2023
Total reserves ranking
131/177
2024
134/177
2023
Net foreign direct investment
-$208M
2017
-$376M
1996
Net inflows of foreign direct investment
$303M
2024
$188M
2024
Net outflows of foreign direct investment
$18.6M
2024
$154M
2024
Poverty at national poverty lines
25.7%
2016
50.7%
2022
Gross capital formation, % of GDP n/a
8.96%
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/barbados/equatorial-guinea | 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 (1985–1989, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. Central Intelligence Agency (CIA) (2014, retrieved 2026-02-20)

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.