Includes The Bahamas real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about The Bahamas economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of The Bahamas best banks and safest banks are also available.
Basic Information
Government Type: Parliamentary democracy under a constitutional monarchy; a Commonwealth realm
Capital City: Nassau
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank | Central Bank of The Bahamas |
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Currency | Bahamian dollars (BSD) |
International Reserves |
USD 1.41 billion (2017) International Monetary Fund (IMF), data retrieved October 2019 |
Gross Domestic Product – GDP | USD 12.8 billion (2018, estimate) |
GDP (Purchasing Power Parity) | Intl$ 12.6 billion (2018, estimate) |
GDP Data
Real GDP growth |
2007 1.4% 2008 -2.3% 2009 -4.2% 2010 1.5% 2011 0.6% 2012 3.1% 2013 -0.4% 2014 -0.1% 2015 1% 2016 -1.7% 2017 1.4% 2018 2.3% *Estimate |
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GDP per capita – current prices | USD 34,002.6 (2018, estimate) |
GDP per capita – PPP | Intl$ 33,494.2 (2018, estimate) |
GDP (PPP) – share of world total |
1980 0.02% 1990 0.01% 2000 0.01% 2010 0.01% 2019* 0.009% |
GDP – composition by sector |
agriculture: 1% industry: 13.2% services: 74.9% (2017 estimate) |
Gross domestic expenditure on R&D; (% of GDP) | N/A |
Inflation |
2015 1.9% 2016 -0.3% 2017 1.6% 2018* 2.2% 2019* 1.8% *Estimate |
The Bahamas
Inflation & Debt
Inflation |
2015 1.9% 2016 -0.3% 2017 1.6% 2018* 2.2% 2019* 1.8% *Estimate |
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Government Bond Ratings |
Standard & Poor’s: BB+ Moody’s: Baa3 Standard & Poor’s / Moody’s |
Unemployment rate |
2015 13.4% 2016 12.2% 2017 10.1% 2018* 10.4% 2019* 13.5% *Estimate |
Household saving rates | N/A |
Public debt (General government gross debt as a % of GDP) |
2015 49.7% 2016 50.4% 2017 54.4% 2018* 63.3% 2019* 61.5% *Estimate |
Public deficit (General government net lending/borrowing as a % of GDP) |
2015 -3.8% 2016 -2.6% 2017 -5.5% 2018* -3.4% 2019* -1.8% *Estimate |
Market value of publicly traded shares |
2016 N/A 2017 N/A 2018 N/A |
Largest Companies | N/A |
Import/Export
Exports as percent of GDP (Exports of goods and services) | 33.7% (2017) |
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Shares in world total merchandising export | 0.003% (2018) |
Shares in world total commercial services export | 0.06% (2018) |
Total exports | USD 3.9 billion (2018 estimate) |
Export commodities | Rock lobster, aragonite, crude salt, polystyrene products |
Total imports | USD 5.5 billion (2018 estimate) |
Import commodities | Machinery and transport equipment, manufactures, chemicals, mineral fuels; food and live animals |
Exports – major partners | US 63.9%, Namibia 19.3% (2017) |
Imports – major partners | US 83.2% (2017) |
Competitiveness & Trade
Current account balance | USD -1.5 billion (2018 estimate) |
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Current account balance by percentage of GDP | -12.1 % (2018 estimate) |
FDI inflows |
2016 USD 1,260 million 2017 USD 1,037 million 2018 USD 943 million |
FDI Outflows |
2016 USD 359 million 2017 USD 130 million 2018 USD 119 million |
Value of cross-border M&A, by country of purchaser |
2015 N/A 2016 N/A 2017 N/A 2018 N/A |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 119 out of 190 countries Subcategories: Starting a Business: 94 out of 190 countries Dealing with Construction Permits: 77 out of 190 countries Getting Electricity: 81 out of 190 countries Registering Property: 181 out of 190 countries Getting Credit: 152 out of 190 countries Protecting Minority Investors: 88 out of 190 countries Paying Taxes: 50 out of 190 countries Trading across Borders: 161 out of 190 countries Enforcing Contracts: 82 out of 190 countries Resolving Insolvency: 71 out of 190 countries |
Global competitiveness ranking | N/A |
Index of Economic Freedom |
Ranking: 76 / Score: 62.9 (Moderately free) (100=totally free 0=totally repressed) |
Population & Geographic Data
Total Area | 13,880 sq km |
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Total Population |
1990 0.26 Million 2000 0.3 Million 2010 0.35 Million 2015 0.36 Million 2020 0.39 Million |
Urban population as % of total population |
1960 59.7% 1980 73.1% 2000 82 82% 2020 83% |
Population median age | 32.3 years |
Population growth rate | 0.79% (2018 estimate) |
Life expectancy | 72.9 years (2018 estimate) |
% of population living on less than $3.10 a day | N/A |
Inequality of wealth distribution (Gini index) | N/A |
Freedom House rating |
Free Political Rights: 1 Civil Liberties: 1 (2019) (1 represents the most free, 7 the least free rating) |
Total telephone subscribers as % of population |
Fixed: 29.4% Mobile: 99% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population | 85 % (2017) |
Language & Religon
Languages | English (official), Creole (among Haitian immigrants) |
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Literacy | N/A |
Religions | Protestant 69.9% (includes Baptist 34.9%, Anglican 13.7%, Pentecostal 8.9% Seventh Day Adventist 4.4%, Methodist 3.6%, Church of God 1.9%, Brethren 1.6%), Roman Catholic 12%, other Christian 13% (includes Jehovah’s Witness 1.1%), other 0.6%, none 1.9%, un |
World Rankings
Population | 0.39 million |
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Mercer Cost of living index | N/A |
C02 Emissions per capita | 6.52 metric tons per capita (2014) |
Global Finance Rankings & Awards: The Bahamas
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000