unbekannter Gast

Bahamas, The: Economy#

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. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 35% of GDP. Manufacturing and agriculture combined contribute less than a 10th of GDP and show little growth, despite government incentives aimed at those sectors. The economy of The Bahamas shrank at an average pace of 0.8% annually between 2007-2011, and tourism, financial services, and construction - pillars of the national economy - remain subdued. Conditions are improving in the tourism sector, however, due to steady foreign investment led activity. New resort and marina developments are likely to provide sustained employment opportunities.

Economic Facts#

GDP (purchasing power parity)$11.4 billion (2013 est.)
$11.19 billion (2012 est.)
$10.98 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate1.9% (2013 est.)
1.8% (2012 est.)
1.7% (2011 est.)
GDP - per capita (PPP)$32,000 (2013 est.)
$31,800 (2012 est.)
$31,500 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 2.1%
industry: 7.1%
services: 90.8% (2013 est.)
Population below poverty line9.3% (2010 est.)
Household income or consumption by percentage sharelowest 10%: 1%
highest 10%: 22% (2007)
Labor force - by occupationagriculture: 3%
industry: 11%
tourism: 49%
other services: 37% (2011 est.)
Exports - commoditiescrawfish, aragonite, crude salt, polystyrene products
Exports - partnersSingapore 25.1%, US 20.6%, Dominican Republic 12.9%, Ecuador 9.4%, Canada 5.8%, Switzerland 4.1%, China 4.1% (2012)
Agriculture - productscitrus, vegetables; poultry
Budgetrevenues: $1.41 billion
expenditures: $2.1 billion (2012 est.)
Imports - commoditiesmachinery and transport equipment, manufactures, chemicals, mineral fuels; food and live animals
Imports - partnersUS 30.1%, India 20.3%, Singapore 8.7%, South Korea 6.8%, China 5%, Colombia 4.5%, Canada 4.2% (2012)
Exchange ratesBahamian dollars (BSD) per US dollar -
1 (2013 est.)
1 (2012 est.)
1 (2010 est.)
1 (2008 est.)
1 (2007 est.)
Exports$960 million (2013 est.)
$984 million (2012 est.)
Debt - external$17.56 billion (31 December 2013 est.)
$16.35 billion (31 December 2012 est.)
Fiscal year1 July - 30 June
Imports$3.245 billion (2013 est.)
$3.386 billion (2012 est.)
Industrial production growth rate1.5% (2013 est.)
Industriestourism, banking, oil bunkering, maritime industries, transshipment, salt, rum, aragonite, pharmaceuticals
Inflation rate (consumer prices)1% (2013 est.)
2% (2012 est.)
Labor force196,900 (2013 est.)
Unemployment rate16.2% (2013 est.)
14% (2012 est.)
Current account balance-$1.372 billion (2013 est.)
-$1.424 billion (2012 est.)
Reserves of foreign exchange and gold$830 million (31 December 2013 est.)
$846.9 million (31 December 2012 est.)
GDP (official exchange rate)$8.373 billion (2013 est.)
Market value of publicly traded shares$NA (31 December 2012 est.)
Central bank discount rate4.5% (1 January 2014 est.)
4.5% (31 December 2012 est.)
Commercial bank prime lending rate4.75% (31 December 2013 est.)
4.75% (31 December 2012 est.)
Stock of domestic credit$9.2 billion (31 December 2013 est.)
$8.653 billion (31 December 2012 est.)
Stock of narrow money$1.435 billion (31 December 2013 est.)
$1.575 billion (31 December 2012 est.)
Stock of broad money$6.329 billion (31 December 2013 est.)
$6.088 billion (31 December 2012 est.)
Taxes and other revenues16.8% of GDP (2012 est.)
Budget surplus (+) or deficit (-)-8.2% of GDP (2012 est.)
GDP - composition, by end usehousehold consumption: 68.7%
government consumption: 15.5%
investment in fixed capital: 34.4%
investment in inventories: 0%
exports of goods and services: 45.8%
imports of goods and services: -64.4%
(2013 est.)
Gross national saving14.3% of GDP (2013 est.)
19.3% of GDP (2012 est.)
17.8% of GDP (2011 est.)