Central America and the Caribbean > Bahamas, The > Economy

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Agriculture > products citrus, vegetables; poultry
Aid as % of GDP	0.1%		[125th of 129]
Current account balance	-$1,442,000,000.00		[132nd of 181]
Debt > External	$342,600,000.00		[17th of 136]
Economic freedom	2.85		[22nd of 156]
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. Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences had led to solid GDP growth in recent years, but tourist arrivals have been on the decline since 2006. 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, since December 2000, when the government enacted new regulations on the financial sector, many international businesses have left The Bahamas. 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. Tourism, in turn, depends on growth in the US, the source of more than 80% of the visitors.
Exchange rates Bahamian dollars per US dollar - 1 (2004), 1 (2003), 1 (2002), 1 (2001), 1 (2000)
Exports	$674,000,000.00		[147th of 189]
Exports to US	$130,600,000.00		[81st of 224]
GDP	$5,502,000,000.00		[120th of 203]
GDP (purchasing power parity)	$8,553,000,000.00		[147th of 187]
GDP > PPP	$5,291,000,000.00		[136th of 163]
GDP > Real growth rate	2.8%		[152nd of 198]
GDP growth > annual %	0.7 annual %		[150th of 187]
GDP per capita, PPP > current international $	17,039.07 PPP $		[35th of 169]
Gross National Income	$4,532,650,000.00		[105th of 172]
Gross national income > constant LCU	1383341000
Human Development Index	0.832		[50th of 178]
Inflation rate (consumer prices)	2.4%		[141st of 192]
Population below poverty line	9.3%		[44th of 46]

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