Economy - overview:
The Bahamas has the second highest per capita GDP in the English-speaking Caribbean with an economy heavily dependent on tourism and financial services. Tourism accounts for approximately 50% 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. The new government led by Prime Minister Hubert MINNIS has prioritized addressing fiscal imbalances and rising debt, which stood at 75% of GDP in 2016. Large capital projects like the Baha Mar Casino and Hotel are driving growth. Public debt increased in 2017 in large part due to hurricane reconstruction and relief financing. The primary fiscal balance was a deficit of 0.4% of GDP in 2016. The Bahamas is the only country in the Western Hemisphere that is not a member of the World Trade Organization.

GDP (purchasing power parity):
$12.06 billion (2017 est.)
$11.89 billion (2016 est.)
$12.09 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 156
[see also: GDP country ranks ]

GDP (official exchange rate):
$12.16 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.4% (2017 est.)
-1.7% (2016 est.)
1% (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 175
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$32,400 (2017 est.)
$32,300 (2016 est.)
$33,200 (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 62
[see also: GDP - per capita country ranks ]

Gross national saving:
11.4% of GDP (2017 est.)
18.2% of GDP (2016 est.)
12.3% of GDP (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 155
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 68% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 13% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 26.3% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.7% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 33.7% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -41.8% (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% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 7.7% (2017 est.)
[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; seafood

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

Industrial production growth rate:
5.8% (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 44
[see also: Industrial production growth rate country ranks ]

Labor force:
196,900 (2013 est.)
country comparison to the world (CIA rank, may be based on non-current data): 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 ]
services: 49%
[see also: Labor force - by occupation - services country ranks ]
tourism: 37% (2011 est.)

Unemployment rate:
10.1% (2017 est.)
12.2% (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 140
[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 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: 2.139 billion (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 2.46 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
17.6% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 166
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.6% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 115
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
54.6% of GDP (2017 est.)
50.5% of GDP (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 80
[see also: Public debt country ranks ]

Fiscal year:
1 July - 30 June

Inflation rate (consumer prices):
1.4% (2017 est.)
-0.3% (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 75
[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 (CIA rank, may be based on non-current data): 85
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
4.25% (31 December 2017 est.)
4.75% (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 161
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$2.654 billion (31 December 2017 est.)
$2.461 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 124
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.654 billion (31 December 2017 est.)
$2.461 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 131
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$8.805 billion (31 December 2017 est.)
$9.09 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 113
[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 (CIA rank, may be based on non-current data): 95
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.909 billion (2017 est.)
-$868 million (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 163
[see also: Current account balance country ranks ]

Exports:
$550 million (2017 est.)
$444.3 million (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 174
[see also: Exports country ranks ]

Exports - partners:
US 63.9%, Namibia 19.3% (2017)

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

Imports:
$3.18 billion (2017 est.)
$2.594 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 146
[see also: Imports country ranks ]

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

Imports - partners:
US 83.2% (2017)

Reserves of foreign exchange and gold:
$1.522 billion (31 December 2017 est.)
$1.002 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 125
[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 (CIA rank, may be based on non-current data): 98
[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.)