Economy - overview:
The Bahamas has the second highest per capital GDP in the English-speaking Caribbean with an economy heavily dependent on tourism and international banking. Tourism accounts for approximately 75-80% of GDP and directly or indirectly employs half of the archipelago's labor force. Financial services constitute the second-most important sector of the Bahamian economy, accounting for about 15% of GDP. Manufacturing and agriculture combined contribute less than 7% of GDP and show little growth, despite government incentives aimed at those sectors. On January 1, 2015, the Government introduced a 7.5% Value Added Tax (VAT) on most goods and services, a measure designed to strengthen the fiscal balance sheet. In August 2016, Moody’s downgraded the Bahamas’ bond and issue ratings to Baa3 from Baa2 with a stable outlook, maintaining that rating in its February 2017 review. In December 2016, S&P downgraded the country to BB+ (speculative grade) from BBB- (investment grade) with a stable outlook based on projections of slow economic growth and the pace of debt accumulation. The Bahamas is the only country in the Western Hemisphere that is not a member of the World Trade Organization.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Exchange rates:
$9.339 billion (2017 est.)
$9.174 billion (2016 est.)
$9.197 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 162
$9.127 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]
1.8% (2017 est.)
-0.3% (2016 est.)
-1.7% (2015 est.)
country comparison to the world: 164
[see also: GDP - real growth rate country ranks ]
$25,100 (2017 est.)
$24,900 (2016 est.)
$25,300 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 79
8.6% of GDP (2017 est.)
13.4% of GDP (2016 est.)
13.6% of GDP (2015 est.)
country comparison to the world: 164
[see also: Gross national saving country ranks ]
household consumption: 66.4%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 16.9%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 28.3%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 1%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 38.3%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -50.8% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]
agriculture: 2.3%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 7.7%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 90% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]
citrus, vegetables; poultry
tourism, banking, oil bunkering, maritime industries, transshipment and logistics, salt, aragonite, pharmaceuticals
1.5% (2017 est.)
country comparison to the world: 152
[see also: Industrial production growth rate country ranks ]
196,900 (2013 est.)
country comparison to the world: 173
[see also: Labor force country ranks ]
agriculture: 3%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 11%
[see also: Labor force - by occupation - industry country ranks ]
tourism: 49%
other services: 37% (2011 est.)
10% (2017 est.)
12.2% (2016 est.)
country comparison to the world: 137
[see also: Unemployment rate country ranks ]
9.3% (2010 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 1%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 22% (2007)
revenues: $2.1 billion
[see also: Budget - revenues country ranks ]
expenditures: $2.6 billion (2017 est.)
[see also: Budget - expenditures country ranks ]
23% of GDP (2017 est.)
country comparison to the world: 128
[see also: Taxes and other revenues country ranks ]
-5.5% of GDP (2017 est.)
country comparison to the world: 170
[see also: Budget surplus (+) or deficit (-) country ranks ]
66.9% of GDP (2016 est.)
64.5% of GDP (2015 est.)
country comparison to the world: 56
[see also: Public debt country ranks ]
1 July - 30 June
2.4% (2017 est.)
0.8% (2016 est.)
country comparison to the world: 110
[see also: Inflation rate (consumer prices) country ranks ]
4.5% (1 January 2014)
4.5% (31 December 2012)
country comparison to the world: 83
[see also: Central bank discount rate country ranks ]
4.3% (31 December 2017 est.)
4.8% (31 December 2016 est.)
country comparison to the world: 157
[see also: Commercial bank prime lending rate country ranks ]
$2.576 billion (31 December 2017 est.)
$2.461 billion (31 December 2016 est.)
country comparison to the world: 125
[see also: Stock of narrow money country ranks ]
$7.033 billion (31 December 2017 est.)
$6.622 billion (31 December 2016 est.)
country comparison to the world: 117
[see also: Stock of broad money country ranks ]
$9.7 billion (31 December 2017 est.)
$9.1 billion (31 December 2016 est.)
country comparison to the world: 108
[see also: Stock of domestic credit country ranks ]
$2.78 billion (31 December 2012 est.)
country comparison to the world: 97
[see also: Market value of publicly traded shares country ranks ]
-$1.626 billion (2017 est.)
-$1.126 billion (2016 est.)
country comparison to the world: 150
[see also: Current account balance country ranks ]
$934.7 million (2017 est.)
$444.3 million (2016 est.)
country comparison to the world: 162
[see also: Exports country ranks ]
Rock lobster, aragonite, crude salt, polystyrene products
US 53.4%, Namibia 31.4% (2016)
$3.105 billion (2017 est.)
$2.594 billion (2016 est.)
country comparison to the world: 143
[see also: Imports country ranks ]
machinery and transport equipment, manufactures, chemicals, mineral fuels; food and live animals
US 81.8% (2016)
$922.1 million (31 December 2017 est.)
$1.002 billion (31 December 2016 est.)
country comparison to the world: 128
[see also: Reserves of foreign exchange and gold country ranks ]
$17.56 billion (31 December 2013 est.)
$16.35 billion (31 December 2012 est.)
country comparison to the world: 95
[see also: Debt - external country ranks ]
Bahamian dollars (BSD) per US dollar -
1 (2017 est.)
1 (2016 est.)
1 (2015 est.)
1 (2014 est.)
1 (2013 est.)