Agriculture > products
citrus, vegetables; poultry |
|
Aid as % of GDP
|
0.1% |
|
[125th of 129]
|
|
Definition: Economy > Aid as % of GDP |
|
Source: CIA World Factbook, 28 July 2005 |
|
Current account balance
|
-$1,442,000,000.00 |
|
[132nd of 181]
|
|
Definition: Economy > Current account balance |
|
Source: calculated on the basis of data on ODA from OECD (Organisation for Economic Co-operation and Development), Development Assistance Committee. 2002. DAC Online. Database. Paris.; and data on GDP from World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC |
|
Debt > External
|
$342,600,000.00 |
|
[17th of 136]
|
|
Definition: Economy > Debt > External |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
Economic freedom
|
2.85 |
|
[22nd of 156]
|
|
Definition: Economy > Economic freedom |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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. |
|
Definition: Economy > Economy > Overview |
|
Source: The Heritage Foundation |
Exchange rates
Bahamian dollars per US dollar - 1 (2004), 1 (2003), 1 (2002), 1 (2001), 1 (2000) |
|
Definition: Economy > Exchange rates |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
Exports
|
$674,000,000.00 |
|
[147th of 189]
|
|
Definition: Economy > Exports |
|
Source: CIA World Factbook, 28 July 2005 |
|
Exports to US
|
$130,600,000.00 |
|
[81st of 224]
|
|
Definition: Economy > Exports to US |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
GDP
|
$5,502,000,000.00 |
|
[120th of 203]
|
|
Definition: Economy > GDP |
|
Source: US Census Bureau |
|
GDP (purchasing power parity)
|
$8,553,000,000.00 |
|
[147th of 187]
|
|
Definition: Economy > GDP (purchasing power parity) |
|
Source: World Development Indicators database and CIA World Factbook |
|
GDP > PPP
|
$5,291,000,000.00 |
|
[136th of 163]
|
|
Definition: Economy > GDP > PPP |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
GDP > Real growth rate
|
2.8% |
|
[152nd of 198]
|
|
Definition: Economy > GDP > Real growth rate |
|
Source: World Bank. 2005. World Development Indicators 2005. |
|
GDP growth > annual %
|
0.7 annual %
|
|
[150th of 187]
|
|
Definition: Economy > GDP growth > annual % |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
GDP per capita, PPP > current international $
|
17,039.07 PPP $
|
|
[35th of 169]
|
|
Definition: Economy > GDP per capita, PPP > current international $ |
|
Source: World Development Indicators database |
|
Gross National Income
|
$4,532,650,000.00 |
|
[105th of 172]
|
|
Definition: Economy > Gross National Income |
|
Source: World Development Indicators database |
|
Gross national income > constant LCU
|
1383341000 |
|
|
|
Definition: Economy > Gross national income > constant LCU |
|
Human Development Index
|
0.832 |
|
[50th of 178]
|
|
Definition: Economy > Human Development Index |
|
Source: World Development Indicators database |
|
Inflation rate (consumer prices)
|
2.4% |
|
[141st of 192]
|
|
Definition: Economy > Inflation rate (consumer prices) |
|
Source: Human Development Report 2006, United Nations Development Programme |
|
Population below poverty line
|
9.3% |
|
[44th of 46]
|
|
Definition: Economy > Population below poverty line |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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