Bahamas, The Economy 2018, CIA World Factbook
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Bahamas, The Economy 2018

SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES











Bahamas, The Economy 2018
SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 28, 2018

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):
$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

GDP (official exchange rate):
$9.127 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
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 ]

GDP - per capita:
$25,100 (2017 est.) $24,900 (2016 est.) $25,300 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 79

Gross national saving:
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 ]

GDP - composition, by end use:
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 ]

GDP - composition, by sector of origin:
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 ]

Agriculture - products:
citrus, vegetables; poultry

Industries:
tourism, banking, oil bunkering, maritime industries, transshipment and logistics, salt, aragonite, pharmaceuticals

Industrial production growth rate:
1.5% (2017 est.)
country comparison to the world: 152
[see also: Industrial production growth rate country ranks ]

Labor force:
196,900 (2013 est.)
country comparison to the world: 173
[see also: Labor force country ranks ]

Labor force - by occupation:
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.)

Unemployment rate:
10% (2017 est.) 12.2% (2016 est.)
country comparison to the world: 137
[see also: Unemployment rate country ranks ]

Population below poverty line:
9.3% (2010 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 22% (2007)

Budget:
revenues: $2.1 billion
[see also: Budget - revenues country ranks ]
expenditures: $2.6 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
23% of GDP (2017 est.)
country comparison to the world: 128
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-5.5% of GDP (2017 est.)
country comparison to the world: 170
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
66.9% of GDP (2016 est.) 64.5% of GDP (2015 est.)
country comparison to the world: 56
[see also: Public debt country ranks ]

Fiscal year:
1 July - 30 June

Inflation rate (consumer prices):
2.4% (2017 est.) 0.8% (2016 est.)
country comparison to the world: 110
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4.5% (1 January 2014) 4.5% (31 December 2012)
country comparison to the world: 83
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
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 ]

Stock of narrow money:
$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 ]

Stock of broad money:
$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 ]

Stock of domestic credit:
$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 ]

Market value of publicly traded shares:
$2.78 billion (31 December 2012 est.)
country comparison to the world: 97
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.626 billion (2017 est.) -$1.126 billion (2016 est.)
country comparison to the world: 150
[see also: Current account balance country ranks ]

Exports:
$934.7 million (2017 est.) $444.3 million (2016 est.)
country comparison to the world: 162
[see also: Exports country ranks ]

Exports - commodities:
Rock lobster, aragonite, crude salt, polystyrene products

Exports - partners:
US 53.4%, Namibia 31.4% (2016)

Imports:
$3.105 billion (2017 est.) $2.594 billion (2016 est.)
country comparison to the world: 143
[see also: Imports country ranks ]

Imports - commodities:
machinery and transport equipment, manufactures, chemicals, mineral fuels; food and live animals

Imports - partners:
US 81.8% (2016)

Reserves of foreign exchange and gold:
$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 ]

Debt - external:
$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 ]

Exchange rates:
Bahamian dollars (BSD) per US dollar - 1 (2017 est.) 1 (2016 est.) 1 (2015 est.) 1 (2014 est.) 1 (2013 est.)


NOTE: 1) The information regarding Bahamas, The on this page is re-published from the 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bahamas, The Economy 2018 information contained here. All suggestions for corrections of any errors about Bahamas, The Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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