The Bahamas


The Bahamas Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in The Bahamas; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank Central Bank of The Bahamas
International Reserves US$ 1.07 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 8.552 billion (2010 estimate)
GDP (Purchasing Power Parity) 11.196 billion of International dollars (2010 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
-0.6% 2.2% 0.7% 1.6% 5% 3.5% 1.9% -1.3%
2009 2010 2011 2012*
-5.4% 1% 2% 2.5%

*Estimate

GDP per capita - current prices US$ 24,279 (2008 estimate)
GDP per capita - PPP $31,784 International Dollars (2008 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
0.02% 0.02% 0.02% 0.01% 0.01%

**Forecast

GDP - composition by sector
  • agriculture: 1.6% 
  • industry: 8% 
  • services: 90.4% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) N/A

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
2.1%(2008) 1% 2.5% 2%

*Estimate

Unemployment rate
2009 2010 2011 2012*
14.2% 14% 13.7%(2009) 11%

*Estimate

Household saving rates N/A

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
32.6% 37.9% 45.4% 48.6% 49.9%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
-1.8% -4.5% -4.4% -4.7% -5%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: BBB

Moody's rating: A3

Moody's outlook: NEG

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
N/A N/A N/A
Largest companies in The Bahamas N/A
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ -1.6 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP -18.4% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

42% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.06% (2011)(2007)

(Data were released in 2012)

Total exports US$790 million (2012 estimate) 
Export commodities crawfish, aragonite, crude salt, polystyrene products
Total imports US$2.882 billion (2012 estimate) 
Import commodities machinery and transport equipment, manufactures, chemicals, mineral fuels; food and live animals
Exports - major partners Singapore 26.8%, US 25.6%, Dominican Republic 11.2%, Ecuador 8.1%, Mexico 4.9%, Switzerland 4.9% (2011)
Imports - major partners US 25.9%, India 18.8%, South Korea 14.4%, Venezuela 9.6%, Singapore 7.8%, China 4.2% (2011)
FDI inflows
2009 2010 2011
US$873 million US$1,142 million(2009) US$1,533 million(2009)
FDI outflows
2009 2010 2011
US$216 million US$149 million US$524 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
US$537 million US$11 million(2009) US$112 million(2009) US$-350 million
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 77 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 82 out of 185 countries(2009)

Enforcing Contracts: 123 out of 185 countries

Registering Property: 179 out of 185 countries

Getting credit: 83 out of 185 countries

Protecting investors: 117 out of 185 countries

Trading across border: 58 out of 185 countries

Paying Taxes: 51 out of 185 countries

Dealing with Construction Permits: 68 out of 185 countries

Getting Electricity: 43 out of 185 countries

Resolving Insolvency: 35 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
N/A

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 46 Score: 68.0 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC-5
Total area 13,943 km2 (2006)
Capital Nassau (2009)
Currency Bahamian dollars (BSD) (2009)
Government type constitutional parliamentary democracy and a Commonwealth realm (2009)
Languages English (official), Creole (among Haitian immigrants)
Religions Baptist 35.4%, Anglican 15.1%, Roman Catholic 13.5%, Pentecostal 8.1%, Church of God 4.8%, Methodist 4.2%, other Christian 15.2%, none or unspecified 2.9%, other 0.8% (2000 census)
Total population
1980 1990 2000 2012* 2017**
0.21 million 0.25 million 0.3 million 0.35 million 0.37 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
59.7% 73.1% 82% 84.3%
Population median age 31 years (2010)
Population growth rate 1.2% (2011)
Life expectancy 75 years (2010)
Adult literacy N/A
% of population living on less than $2 a day N/A
Inequality of wealth distribution (Gini index)

N/A

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:1 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

124.37% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 65% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

N/A

CO2 emissions
(Metric tons of CO2 per capita)

7.6398 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST INTERNET BANKS

2012:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2012)
  • COUNTRY WINNERS / Best Consumer Internet Banks Scotiabank (National, 2012)
2011:
  • COUNTRY WINNERS / Best Consumer Internet Banks Scotiabank (National, 2011)
2010:
  • COUNTRY WINNERS / Best Consumer Internet Banks Scotiabank (National, 2010)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE