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 one 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 and 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)$9.066 billion (2016 est.)
$9.042 billion (2015 est.)
$9.195 billion (2014 est.)
note: data are in 2016 dollars
GDP (official exchange rate)$9.047 billion (2015 est.)
GDP - real growth rate0.3% (2016 est.)
-1.7% (2015 est.)
-0.5% (2014 est.)
GDP - per capita (PPP)$24,600 (2016 est.)
$24,800 (2015 est.)
$25,500 (2014 est.)
note: data are in 2016 dollars
Gross national saving14.1% of GDP (2016 est.)
11.2% of GDP (2015 est.)
9.2% of GDP (2014 est.)
GDP - composition, by end usehousehold consumption: 65.7%
government consumption: 16.3%
investment in fixed capital: 27.3%
investment in inventories: 1%
exports of goods and services: 36.9%
imports of goods and services: -47.2% (2016 est.)
GDP - composition, by sector of originagriculture: 2.3%
industry: 7.6%
services: 90.1% (2016 est.)
Agriculture - productscitrus, vegetables; poultry
Industriestourism, banking, oil bunkering, maritime industries, transshipment, salt, rum, aragonite, pharmaceuticals
Industrial production growth rate1.5% (2016 est.)
Labor force196,900 (2013 est.)
Labor force - by occupationagriculture: 3%
industry: 11%
tourism: 49%
other services: 37% (2011 est.)
Unemployment rate15% (2014 est.)
15.8% (2013 est.)
Population below poverty line9.3% (2010 est.)
Household income or consumption by percentage sharelowest 10%: 1%
highest 10%: 22% (2007 est.)
Budgetrevenues: $1.9 billion
expenditures: $2.3 billion (2016 est.)
Taxes and other revenues21% of GDP (2016 est.)
Budget surplus (+) or deficit (-)-4.4% of GDP (2016 est.)
Public debt64.4% of GDP (2016 est.)
64.4% of GDP (2015 est.)
Fiscal year1 July - 30 June
Inflation rate (consumer prices)1% (2016 est.)
1.9% (2015 est.)
Central bank discount rate4.5% (1 January 2014)
4.5% (31 December 2012)
Commercial bank prime lending rate6% (31 December 2016 est.)
4.8% (31 December 2015 est.)
Stock of narrow money$2.061 billion (31 December 2016 est.)
$2.051 billion (31 December 2015 est.)
Stock of broad money$6.952 billion (31 December 2016 est.)
$6.546 billion (31 December 2015 est.)
Stock of domestic credit$9.5 million (31 December 2016 est.)
$8.922 million (31 December 2015 est.)
Market value of publicly traded shares$2.78 billion (31 December 2012 est.)
Current account balance-$1.029 billion (2016 est.)
-$1.415 billion (2015 est.)
Exports$880 million (2016 est.)
$800 million (2015 est.)
Exports - commoditiescrawfish, aragonite, crude salt, polystyrene products
Exports - partnersPoland 26.3%, Cote dIvoire 20.9%, US 15.9%, Dominican Republic 14.3% (2015)
Imports$2.495 billion (2016 est.)
$2.585 billion (2015 est.)
Imports - commoditiesmachinery and transport equipment, manufactures, chemicals, mineral fuels; food and live animals
Imports - partnersUS 22.3%, China 14.8%, Japan 9.5%, Poland 7.7%, South Korea 7.3%, Colombia 6.8%, Brazil 5.6%, Singapore 5.5% (2015)
Reserves of foreign exchange and gold$1.02 billion (31 December 2016 est.)
$895.5 million (31 December 2015 est.)
Debt - external$17.56 billion (31 December 2013 est.)
$16.35 billion (31 December 2012 est.)
Exchange ratesBahamian dollars (BSD) per US dollar -
1 (2016 est.)
1 (2015 est.)
1 (2014 est.)
1 (2013 est.)
1 (2012 est.)