Economy of Bahamas
Population: 0.39 M (2018)
GDP per Capita: 32,218 USD (2018)
12,420 M.

GDP USD

(2018)

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4,480 M.

EXPORTS USD

(2018)

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5,130 M.

IMPORTS USD

(2018)

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65.50 %

PUBLIC DEBT

(2019)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 1.57 % (2018)
GDP of 2010 USD USD 10.50 B. (2018)
GDP Current USD USD 12.42 B. (2018)
GDP per Capita Current USD USD 32,218 (2018)
GDP per capita, PPP USD 28,472 (2018)
GDP per Capita, 2010 USD USD 27,261 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 12.29 % (2018)
Government Spending USD 1.53 B. (2018)
Government Debt % GDP 65.50 % (2019)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 77.30 (2018)
Trade Openness 77.35 % (2018)
Exports of Goods and Services % GDP 36.08 % (2018)
Exports Goods & Services USD 4.48 B. (2018)
Exports Annual Growth 6.33 % (2018)
Imports as % GDP 41.27 % (2018)
Total Imports USD 5.13 B. (2018)
Foreign Direct Investment % GDP 3.96 % (2018)
Foreign Direct Investment USD 0.94 B. (2018)
Current Account Balance % GDP USD -12.11 % (2018)
Current Account Balance USD -1.51 B. (2018)
Trade Balance % GDP % (2018)
Trade Balance USD -0.75 B. (2018)
Foreign Exchange Reserves incl Gold USD 1.41 B. (2017)
Remittances % GDP USD 1.41 B. (2017)
Remittances USD 1.41 B. (2017)
Balance of Payments USD 657 M. (2018)

Labor Market

Indicator Value
Labor Force 0.23 M. (2019)
Unemployment Rate 11.50 % (2019)
Unemployment Rate Females 10.80 % (2019)
Unemployment Rate Males 9.96 % (2019)
Youth Unemployment (ages 15-24) 24.64 % (2019)
Labor Force Participation Rate 74.51 % (2019)
Labor Force (Percent Female) 47.32 % (2019)
Female Labor Force Participation Rate 67.54 % (2019)
Male Labor Force Participation Rate 81.95 % (2019)
Dependent People 42.33 % (2018)

Agriculture Sector

Indicator Value
Forest Area 51.40 % (2016)
Forest Area km² 5,150 km² (2016)
Agricultural Land 1.40 % (2016)
Agricultural Land km² 140 km² (2016)
Employment 2.58 % (2019)
Value added % GDP 0.89 % (2018)
Agriculture Value added USD 0.11 B. (2018)
Crop Production Index 142.70 (2016)
Precipitation 1,292 mm (2014)
Arable Land 1 % (2016)
Cereal Yield 8,818 kg/hectare (2017)
Food production index 131 (2016)
Rural Population 17 % (2018)
Fertilizer use of Arable Land 144 kg/hectare (2016)
Livestock Production Index 111 (2016)
Economy of Bahamas

According to the World Bank and its latest published data, the economy of the Bahamas presents a growth rate of 1.57 % (2018) to the previous year.

With a population that reaches 0.39 M (2018) and a gross domestic product of USD 12.42 B. (2018), it translates a Gross Domestic Product per Capita of USD 32,218 placing its inhabitants on the threshold of an High-income country (according to the World Bank's updated classification).

Bahamas also has a workforce of 0.23 M. (2019) with an unemployment rate of 11.50 % (2019), where women represent 10.80 % (2019) and men 9.96 % (2019), the unemployment rate for young people between 15-24 years old stood at 24.64 % (2019). The total number of dependent people stands at 42.33 % (2018).

The central government spent 12.29 % (2018) of its gross domestic product that year, which in absolute terms is USD 1.53 B. (2018). Its consolidated public debt reached 65.50 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Bahamas exported USD 4.48 B. (2018), which represents 36.08 % (2018) of its gross domestic product, in that same sense its imports reached USD 5.13 B. (2018) with a direct foreign investment of USD 0.94 B. (2018).

Bahamas has a forest area of 5,150 km² (2016), which represents 51.40 % (2016) of its total area, an average rainfall of 1,292 mm (2014) per year and a population of 17 % (2018) living in rural areas. With a total area of 140 km² (2016) available for agriculture and 2.58 % (2019) of its employments, the agricultural sector contributes to the economy of the Bahamas about USD 0.11 B. (2018) (0.89 % (2018) of its GDP).