Economy - overview:
The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Prior to 2006, a steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences led to solid GDP growth but since then tourism receipts have begun to drop off. The global recession in 2009 took a sizeable toll on the Bahamas, resulting in a contraction in GDP and a widening budget deficit. The decline was reversed in 2010-11 as tourism from the US and sector investment returned. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 36% of GDP. However, the financial sector currently is smaller than it has been in the past because of the enactment of new and stricter financial regulations in 2000 that caused many international businesses to relocate elsewhere. Manufacturing and agriculture combined contribute approximately a tenth of GDP and show little growth, despite government incentives aimed at those sectors. Overall growth prospects in the short run rest heavily on the fortunes of the tourism sector.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): 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: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Debt - external: Exchange rates:
NOTE: 1) The information regarding Bahamas, The on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bahamas, The Economy 2012 information contained here. All suggestions for corrections of any errors about Bahamas, The Economy 2012 should be addressed to the CIA.
$10.81 billion (2011 est.)
country comparison to the world: 151
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$8.1 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
2% (2011 est.)
country comparison to the world: 150
[see also: GDP - real growth rate country ranks ]
$30,900 (2011 est.)
country comparison to the world: 42
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 1.6%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 8%
[see also: GDP - composition by sector - industry country ranks ]
services: 90.4% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]
184,000 (2009)
country comparison to the world: 173
[see also: Labor force country ranks ]
agriculture: 5%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 5%
[see also: Labor force - by occupation - industry country ranks ]
tourism: 50%
other services: 40% (2005 est.)
7.6% (2006 est.)
country comparison to the world: 86
[see also: Unemployment rate country ranks ]
9.3% (2004)
[see also: Population below poverty line country ranks ]
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 27% (2000)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
30.1% of GDP (2011 est.)
country comparison to the world: 33
[see also: Investment (gross fixed) country ranks ]
revenues: $1.5 billion
[see also: Budget revenues country ranks ]
expenditures: $1.7 billion (2011 est.)
[see also: Budget expenditures country ranks ]
18.5% of GDP (2011 est.)
country comparison to the world: 167
[see also: Taxes and other revenues country ranks ]
-2.5% of GDP (2011 est.)
country comparison to the world: 92
[see also: Budget surplus (+) or deficit (-) country ranks ]
3.4% (2011 est.)
country comparison to the world: 72
[see also: Inflation rate (consumer prices) country ranks ]
5.25% (31 December 2010 est.)
country comparison to the world: 69
[see also: Central bank discount rate country ranks ]
5.5% (31 December 2011 est.)
country comparison to the world: 153
[see also: Commercial bank prime lending rate country ranks ]
$1.387 billion (31 December 2011 est.)
country comparison to the world: 138
[see also: Stock of narrow money country ranks ]
$6.427 billion (31 December 2011 est.)
country comparison to the world: 116
[see also: Stock of broad money country ranks ]
$8.8 billion (31 December 2011 est.)
country comparison to the world: 101
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
citrus, vegetables; poultry
tourism, banking, cement, oil transshipment, salt, rum, aragonite, pharmaceuticals, spiral-welded steel pipe
NA%
[see also: Industrial production growth rate country ranks ]
1.945 billion kWh (2009 est.)
country comparison to the world: 136
[see also: Electricity - production country ranks ]
1.907 billion kWh (2008 est.)
country comparison to the world: 137
[see also: Electricity - consumption country ranks ]
0 kWh (2009 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2009 est.)
[see also: Electricity - imports country ranks ]
0 bbl/day (2010 est.)
country comparison to the world: 154
[see also: Oil - production country ranks ]
35,000 bbl/day (2010 est.)
country comparison to the world: 110
[see also: Oil - consumption country ranks ]
transshipments of 41,610 bbl/day (2009 est.)
country comparison to the world: 84
[see also: Oil - exports country ranks ]
70,990 bbl/day (2009 est.)
country comparison to the world: 80
[see also: Oil - imports country ranks ]
0 cu m (2009 est.)
country comparison to the world: 155
[see also: Natural gas - production country ranks ]
0 cu m (2009 est.)
country comparison to the world: 153
[see also: Natural gas - consumption country ranks ]
0 cu m (2009 est.)
country comparison to the world: 60
[see also: Natural gas - exports country ranks ]
0 cu m (2009 est.)
country comparison to the world: 157
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2009 est.)
country comparison to the world: 112
[see also: Natural gas - proved reserves country ranks ]
-$1.146 billion (2011 est.)
country comparison to the world: 134
[see also: Current account balance country ranks ]
$709.7 million (2011 est.)
country comparison to the world: 162
[see also: Exports country ranks ]
mineral products and salt, animal products, rum, chemicals, fruit and vegetables
US 35.9%, Singapore 18.1%, Germany 15.6%, Dominican Republic 7.9% (2010)
$2.854 billion (2011 est.)
country comparison to the world: 148
[see also: Imports country ranks ]
machinery and transport equipment, manufactures, chemicals, mineral fuels; food and live animals
US 23.6%, Venezuela 19.3%, South Korea 11.3%, France 8%, India 7.5%, Japan 6.7%, Singapore 5.4%, China 4.6% (2010)
$342.6 million (2004 est.)
country comparison to the world: 173
[see also: Debt - external country ranks ]
Bahamian dollars (BSD) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They 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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This page was last modified 07-Mar-12