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Economy of Barbados vs Guinea-Bissau compared: GDP & Debt

Updated on by Georank

Barbados has a GDP of $8.02B compared to $2.53B for Guinea-Bissau, ranking 157/197 and 176/197 by economy size, respectively.

Barbados has $7.55B in government debt (94.2% of GDP), compared to $1.9B (75.3% of GDP) in Guinea-Bissau.

Barbados vs Guinea-Bissau GDP by year

Barbados
Guinea-Bissau
1x
Year GDP, current $
Barbados Guinea-Bissau
2025 $8,016,550,000 $2,527,930,273
2024 $7,597,571,450 $2,197,777,210
2023 $7,223,248,150 $2,076,748,678
2022 $6,886,644,900 $1,856,239,955
2021 $5,948,900,600 $1,907,611,288
2020 $5,403,246,950 $1,705,062,170
2019 $6,166,710,800 $1,596,214,680
2018 $6,001,101,550 $1,554,133,594
2017 $5,847,381,600 $1,469,978,606
2016 $5,679,029,450 $1,245,074,264
2015 $5,699,619,150 $1,152,384,167
2014 $5,684,901,000 $1,135,250,721
2013 $5,660,059,700 $1,109,682,824
2012 $5,486,500,500 $1,049,412,177
2011 $5,563,162,050 $1,157,074,319
2010 $5,428,683,250 $940,112,539
2009 $4,466,809,600 $890,167,833
2008 $4,790,410,400 $952,667,544
2007 $4,675,767,950 $753,162,998
2006 $4,217,323,400 $634,781,901
2005 $3,819,500,000 $639,776,041
2004 $3,444,500,000 $582,169,841
2003 $3,209,500,000 $553,614,800
2002 $3,106,500,000 $466,773,711
2001 $3,054,500,000 $412,610,872
2000 $3,059,500,000 $391,345,597
1999 $2,951,822,205 $579,365,780
1998 $2,817,083,478 $591,034,143
1997 $2,498,384,130 $698,107,222
1996 $2,363,645,403 $702,965,148
1995 $2,216,974,096 $660,195,402
1994 $2,151,344,901 $612,502,085
1993 $2,063,342,117 $615,779,519
1992 $1,957,000,000 $588,309,271
1991 $2,020,583,702 $668,470,891
1990 $2,012,131,457 $634,187,269
1989 $2,006,165,167 $554,072,303
1988 $1,812,757,918 $427,514,322
1987 $1,704,370,308 $451,893,375
1986 $1,547,755,183 $338,524,233
1985 $1,409,536,121 $373,959,151
1984 $1,346,890,071 $359,980,491
1983 $1,236,016,507 $425,225,177
1982 $1,163,923,830 $430,284,022
1981 $1,114,204,743 $402,230,865
1980 $1,012,280,615 $287,648,258
1979 $670,362,452 $308,143,183
1978 $552,883,707 $318,876,550
1977 $495,097,668 $298,871,675
1976 $435,911,269 $292,152,321
1975 $402,178,605 $283,311,997
1974 $311,804,630 $256,769,730
1973 $260,767,828 $232,331,281
1972 $213,725,217 $227,986,203
1971 $186,826,503 $204,167,297
1970 $166,210,203 $204,670,551
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 (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Barbados vs Guinea-Bissau by year

Barbados
GDP per capita

GDP per capita, PPP
Guinea-Bissau
GDP per capita

GDP per capita, PPP
1x
Year Current $
Barbados Guinea-Bissau
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $28,365 - $1,124 -
2024 $26,897 $24,823 $998 $3,119
2023 $25,584 $23,660 $964 $2,990
2022 $24,393 $22,193 $882 $2,789
2021 $21,084 $17,683 $927 $2,523
2020 $19,181 $16,555 $847 $2,340
2019 $21,929 $19,971 $811 $2,247
2018 $21,378 $19,777 $809 $2,058
2017 $20,871 $18,437 $783 $2,082
2016 $20,311 $19,176 $680 $1,824
2015 $20,429 $19,186 $645 $1,730
2014 $20,424 $18,595 $652 $1,456
2013 $20,384 $19,032 $654 $1,416
2012 $19,811 $19,605 $635 $1,402
2011 $20,146 $20,316 $720 $1,472
2010 $19,723 $20,033 $600 $1,370
2009 $16,295 $20,324 $583 $1,315
2008 $17,566 $21,376 $640 $1,309
2007 $17,235 $20,949 $519 $1,260
2006 $15,620 $20,076 $449 $1,226
2005 $14,214 $18,450 $463 $1,187
2004 $12,886 $17,299 $431 $1,105
2003 $12,076 $16,707 $420 $1,089
2002 $11,760 $16,133 $362 $1,095
2001 $11,640 $15,866 $327 $1,064
2000 $11,675 $15,914 $317 $1,014
1999 $11,244 $14,873 $479 $1,001
1998 $10,734 $14,621 $498 $861
1997 $9,522 $13,941 $599 $1,118
1996 $9,012 $13,090 $615 $1,052
1995 $8,460 $12,375 $589 $945
1994 $8,223 $11,900 $561 $909
1993 $7,905 $11,448 $582 $890
1992 $7,519 $11,127 $574 $880
1991 $7,790 $11,576 $672 $877
1990 $7,781 $11,687 $651 $824
1989 $7,773 - $578 -
1988 $7,033 - $454 -
1987 $6,625 - $488 -
1986 $6,031 - $371 -
1985 $5,510 - $417 -
1984 $5,284 - $407 -
1983 $4,866 - $489 -
1982 $4,599 - $503 -
1981 $4,417 - $477 -
1980 $4,025 - $347 -
1979 $2,668 - $376 -
1978 $2,198 - $403 -
1977 $1,968 - $403 -
1976 $1,734 - $421 -
1975 $1,601 - $435 -
1974 $1,243 - $419 -
1973 $1,042 - $392 -
1972 $856 - $389 -
1971 $750 - $348 -
1970 $666 - $350 -
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 (1960–2025, retrieved 2026-07-08).

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

Barbados' GDP per capita is $28,365, ranking 48/197, compared to $1,124 in Guinea-Bissau, ranking 177/197. Adjusted for purchasing power (GDP per capita PPP), Barbados ranks 84th at $24,823, while Guinea-Bissau ranks 179th at $3,119.

Economic indicators

Barbados Guinea-Bissau
Gross domestic product
$8.02B
2025
$2.53B
2025
GDP rank
157/197
2025
176/197
2025
GDP growth
2.7%
2024-2025
5.82%
2024-2025
GDP per capita
$28,365
2025
$1,124
2025
GDP per capita rank
48/197
2025
177/197
2025
GDP per capita, PPP
$24,823
2024
$3,119
2024
GDP per capita PPP rank
84/197
2024
179/197
2024
Government debt
$7.55B
2025
$1.9B
2025
Debt-to-GDP ratio
94.2%
2025
75.3%
2025
Government debt per person
$26,731
2025
$846
2025
Government debt per person rank
28/185
2025
149/185
2025
Average annual personal income after taxes
$19,127
2026
$1,483
2026
Market capitalization of domestic companies
$2.78B
2020
n/a
Number of billionaires
1
2026
n/a
Income share by richest 10%
25.8%
2016
26.1%
2021
Income share by poorest 10%
2.5%
2016
3.4%
2021
Government expenditure, % of GDP
27%
2025
19.9%
2025
Consumer prices inflation
0.85%
2024-2025
0.9%
2024-2025
Central bank interest rate
2%
2020
n/a
Unemployment rate
6.03%
2024
2.67%
2022
Population
282789
2323460

Spending and national debt comparison by year

Barbados
Spending

Debt
Guinea-Bissau
Spending

Debt
1x
Year % of GDP
Barbados Guinea-Bissau
Government spending Government debt Government spending Government debt
2025 27% 94.2% 19.9% 75.3%
2024 28.1% 98.9% 20.4% 82.4%
2023 26.5% 104.1% 21.9% 79.4%
2022 26.9% 104% 21.3% 80.7%
2021 27.1% 108.6% 25% 78.8%
2020 30.6% 129.6% 25% 77.6%
2019 22.2% 101.6% 18.8% 65.1%
2018 25% 107.2% 19.5% 59.1%
2017 28% 134.6% 18.1% 51.8%
2016 28.6% 127.1% 20.5% 59.1%
2015 29.2% 122.5% 21.5% 56.3%
2014 27.4% 115.1% 23% 60.1%
2013 29.1% 111.7% 12.4% 49.6%
2012 28.9% 103.5% 13% 47.4%
2011 26.5% 94.4% 17.3% 45.6%
2010 28% 90.3% 18.5% 61.7%
2009 27.8% 83.5% 20.6% 148.3%
2008 27.1% 69.8% 21.8% 148.8%
2007 26.1% 64.9% 23.7% 164%
2006 25% 64.1% 19.8% 190.4%
2005 26.4% 62.7% 20.2% 203.7%
2004 26.2% 61% 23% 202%
2003 27.7% 61.8% 17% 183.4%
2002 29.1% 62% 14.1% 197.5%
2001 20.7% 59% 19.1% 204.4%
2000 19.7% 53.6% 23.5% 217.1%
1999 18.5% 47% 12.1% 109.9%
1998 17.8% 47.2% 8.72% 109.1%
1997 19.6% 52% 12.7% 94.3%
1996 19.1% 52.3% 8.93% 117.3%
1995 17.3% 52% 8.14% 103.3%
1994 15.9% 51.4% 18.4% 105.5%
1993 - - 13.1% 112.4%
1992 - - 10.1% 85.3%
1991 - - 9.19% 88.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1991–1996, retrieved 2026-07-08).

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

In 2025, Barbados' government spending was $2.16B, accounting for 27% of its GDP, while Guinea-Bissau spent $502M, or 19.9% of GDP.

Debt-to-GDP ratio is 94.2% in Barbados and 75.3% in Guinea-Bissau, ranking 28/185 and 49/185, respectively.

Government deficit by year

Deficit/surplus
Barbados

Guinea-Bissau
1x
Year Deficit/surplus, % of GDP
Barbados Guinea-Bissau
2025 -0.31% -6.69%
2024 -0.84% -7.26%
2023 -1.57% -8.15%
2022 -1.74% -6.06%
2021 -3.88% -5.88%
2020 -4.19% -9.64%
2019 2.86% -3.86%
2018 -0.32% -4.76%
2017 -3.64% -1.32%
2016 -4.55% -5.34%
2015 -7.58% -3.16%
2014 -6.2% -2.44%
2013 -8.46% -1.67%
2012 -6.69% -2.12%
2011 -3.47% -1.35%
2010 -7.1% -0.23%
2009 -6.19% 2.68%
2008 -3.94% -0.73%
2007 -4.08% -8.77%
2006 -3.13% -4.57%
2005 -2.78% -4.96%
2004 -2.73% -5.92%
2003 -2.86% -5.63%
2002 -4.96% -3.7%
2001 3.83% -1.83%
2000 4.68% -2.8%
1999 5.06% -4.06%
1998 5.63% -5.95%
1997 5.15% -2.56%
1996 3.5% 3.48%
1995 5.79% 2.45%
1994 6.28% -5.54%
1993 - -0.34%
1992 - -0.25%
1991 - 1.61%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2025, retrieved 2026-07-08).

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

In 2025, Barbados' government deficit, the difference between spending and revenue, was $24.8M, equivalent to 0.31% of GDP. This compares to Guinea-Bissau's deficit of $169M, or 6.69% of GDP.

Over the past 32 years, Barbados recorded a fiscal deficit in 23 of those years, while Guinea-Bissau ran a deficit in 29 years. On average, Barbados posted an annual deficit equal to 1.51% of GDP, compared to deficit of 3.7% of GDP for Guinea-Bissau.

Inflation comparison by year

Inflation
Barbados

Guinea-Bissau
1x
Year Consumer prices inflation
Barbados Guinea-Bissau
2025 0.85% 0.9%
2024 1.45% 3.7%
2023 3.19% 7.2%
2022 - 7.9%
2021 - 3.3%
2020 - 1.5%
2019 1.68% 0.3%
2018 3.11% 0.4%
2017 4.66% -0.2%
2016 1.28% 2.7%
2015 -1.11% 1.5%
2014 1.77% -1%
2013 1.81% 0.8%
2012 4.53% 2.1%
2011 9.43% 5.1%
2010 5.82% 1.1%
2009 3.64% -1.6%
2008 8.11% 10.4%
2007 4.03% 4.6%
2006 7.31% 2%
2005 6.08% 3.4%
2004 1.39% 0.8%
2003 1.62% -3.5%
2002 0.13% 3.3%
2001 2.58% 3.3%
2000 2.44% 8.6%
1999 1.56% -2.1%
1998 -1.27% 8.1%
1997 7.71% 49.1%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Barbados has recorded an average annual inflation rate of 3.22%, compared with 4.27% in Guinea-Bissau. In 2025, inflation was 0.85% in Barbados and 0.9% in Guinea-Bissau.

Balance of trade

Barbados Guinea-Bissau
Current account balance
-$296M
2017
-$162M
2024
Current account balance ranking
96/190
2017
87/190
2024
Current account balance, % of GDP
-5.07%
2017
-7.36%
2024
Goods imports
$1.53B
2017
$414M
2024
Goods exports
$705M
2017
$229M
2024
Service imports
$687M
2017
$198M
2024
Service exports
$1.52B
2017
$51M
2024
Imports of goods and services, % of GDP n/a
27%
2025
Exports of goods and services, % of GDP
14.5%
2026
13.9%
2025

Economic freedom indices

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

Barbados Guinea-Bissau
Economic freedom 70.4 43.2
Economic freedom ranking 34/197 181/197
Property rights 76.4 28.4
Government integrity 71.3 21
Judicial effectiveness 87.3 13.2
Tax burden 83.2 89
Government spending 74.5 86.5
Fiscal health 76.5 6.5
Business freedom 72.3 34.6
Labor freedom 54.3 55.9
Monetary freedom 80.8 75.9
Trade freedom 48.2 47
Investment freedom 60 30
Financial freedom 60 30

Economic freedom comparison by year

Barbados
Guinea-Bissau
1x
Year Economic freedom index
Barbados Guinea-Bissau
2026 70.4 43.2
2025 68.9 43.6
2024 66.8 42.7
2023 69.8 44.6
2022 71.3 46
2021 65 54.9
2020 61.4 53.3
2019 64.7 54
2018 57 56.9
2017 54.5 56.1
2016 68.3 51.8
2015 67.9 52
2014 68.3 51.3
2013 69.3 51.1
2012 69 50.1
2011 68.5 46.5
2010 68.3 43.6
2009 71.5 45.4
2008 71.3 44.4
2007 70 46.1
2006 71.9 46.5
2005 70.1 46
2004 69.4 42.6
2003 71.3 43.1
2002 73.6 42.3
2001 71.5 42.5
2000 69.5 34.7
1999 66.7 33.5
1998 67.9 -
1997 64.5 -
1996 62.3 -

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Barbados is 70.4, ranking 34/197, compared to 43.2 for Guinea-Bissau, ranking 181/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Barbados Guinea-Bissau
Services, % of GDP
75.8%
2024
39.1%
2025
Industry, % of GDP
12.2%
2024
15.7%
2025
Agriculture, forestry, and fishing, % of GDP
1.55%
2024
40.6%
2025
GNI, Atlas method
$7.65B
2025
$2.45B
2025
GNI per capita, PPP
$24,840
2025
$3,320
2025
Total reserves including gold
$1.65B
2024
n/a
Total reserves ranking
131/177
2024
n/a
Net foreign direct investment
-$208M
2017
-$26.3M
2024
Net inflows of foreign direct investment
$303M
2024
$26.7M
2024
Net outflows of foreign direct investment
$18.6M
2024
$389K
2024
Servicing debt to the IMF, % of GNI n/a
1.77%
2024
Poverty at national poverty lines
25.7%
2016
50.5%
2021
Gross capital formation, % of GDP n/a
25.8%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1991–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1991–1996, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

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.