Countries
The Bahamas
Key Economic Indicators
$16.53 billion
$41,198
3.38%
0.41%
9.21%
$15.833 billion (2024 est.)
74 % of GDP
$-1,052,660,800
Economic Overview
high-income tourism and financial services economy; major income inequality; strong US bilateral relations; several tax relief programs; targeted investment in agriculture, energy, light manufacturing, and technology industries
All Economic Data
Agricultural products
sugarcane, grapefruits, vegetables, bananas, tomatoes, chicken, tropical fruits, oranges, coconuts, mangoes/guavas (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Budget
Expenditures:
$3.389 billion (2023 est.)
Note:
<b>note:</b> central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated
Revenues:
$2.855 billion (2023 est.)
Currency
code:
BSD, USD
name:
Bahamian dollar (BSD) [$], United States dollar (USD) [$]
Current account balance
$-1,052,660,800
Current account balance 2022:
-$1.233 billion (2022 est.)
Current account balance 2023:
-$1.069 billion (2023 est.)
Current account balance 2024:
-$1.053 billion (2024 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Exchange rates
Currency:
Bahamian dollars (BSD) per US dollar -
Exchange rates 2020:
1 (2020 est.)
Exchange rates 2021:
1 (2021 est.)
Exchange rates 2022:
1 (2022 est.)
Exchange rates 2023:
1 (2023 est.)
Exchange rates 2024:
1 (2024 est.)
Exports
$5.98 billion
Exports 2022:
$5.425 billion (2022 est.)
Exports 2023:
$6.011 billion (2023 est.)
Exports 2024:
$6.771 billion (2024 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
refined petroleum, ships, aluminum, shellfish, plastics (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
USA 36%, Zimbabwe 16%, Cote d'Ivoire 14%, Germany 8%, Guyana 8% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$240.55 million
GDP - composition, by end use
Exports of goods and services:
37.8% (2024 est.)
Government consumption:
12.9% (2024 est.)
Household consumption:
64.3% (2024 est.)
Imports of goods and services:
-41.5% (2024 est.)
Investment in fixed capital:
25.7% (2024 est.)
Investment in inventories:
1.1% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
0.5% (2024 est.)
Industry:
9.6% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
77.2% (2024 est.)
GDP (official exchange rate)
$15.833 billion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$39,455
GNI (gross national income)
$15.2 billion
GNI per capita
$37,020
Gross domestic investment
27 % of GDP
Imports
$6.56 billion
Imports 2022:
$5.843 billion (2022 est.)
Imports 2023:
$6.273 billion (2023 est.)
Imports 2024:
$7.069 billion (2024 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
refined petroleum, ships, aircraft, cars, crude petroleum (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
USA 60%, Germany 13%, China 5%, Japan 3%, Brazil 2% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
12.5% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
tourism, banking, oil bunkering, maritime industries, transshipment and logistics, salt, aragonite, pharmaceuticals
Inflation rate (consumer prices)
0.41%
Inflation rate (consumer prices) 2022:
5.6% (2022 est.)
Inflation rate (consumer prices) 2023:
3.1% (2023 est.)
Inflation rate (consumer prices) 2024:
0.4% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
237,100 (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
245,159 persons
Labor force - by occupation
agriculture:
0.77%
industry:
14.79%
services:
84.44%
Public debt
74 % of GDP
Note:
<b>note:</b> central government debt as a % of GDP
Public debt 2023:
73.7% of GDP (2023 est.)
Real GDP (purchasing power parity)
$16.53 billion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$13.653 billion (2022 est.)
Real GDP (purchasing power parity) 2023:
$14.069 billion (2023 est.)
Real GDP (purchasing power parity) 2024:
$14.544 billion (2024 est.)
Real GDP growth rate
3.38%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
10.9% (2022 est.)
Real GDP growth rate 2023:
3% (2023 est.)
Real GDP growth rate 2024:
3.4% (2024 est.)
Real GDP per capita
$41,198
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$34,300 (2022 est.)
Real GDP per capita 2023:
$35,200 (2023 est.)
Real GDP per capita 2024:
$36,200 (2024 est.)
Remittances
$65.93 million
Note:
<strong>note:</strong> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2022:
0.4% of GDP (2022 est.)
Remittances 2023:
0.4% of GDP (2023 est.)
Remittances 2024:
0.4% of GDP (2024 est.)
Reserves of foreign exchange and gold
$2.51 billion
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2021:
$2.433 billion (2021 est.)
Reserves of foreign exchange and gold 2022:
$2.609 billion (2022 est.)
Reserves of foreign exchange and gold 2023:
$2.512 billion (2023 est.)
Revenue (excl grants)
19 % of GDP
Tax revenue
16 % of GDP
Taxes and other revenues
16.2% (of GDP) (2023 est.)
note:
<b>note:</b> central government tax revenue as a % of GDP
Unemployment rate
9.21%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
9.3% (2022 est.)
Unemployment rate 2023:
8.7% (2023 est.)
Unemployment rate 2024:
8.5% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
17.8% (2024 est.)
Male:
17.8% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
17.8% (2024 est.)
World Bank Indicators
Currency
West African CFA franc (XOF) Fr (2025)
Exports (US$)
$6.60B (2024)
External Debt
$10.85B (2024)
FDI Net Inflows (US$)
$82.94M (2024)
GDP Growth (%)
4.80 (2024)
Gdp Nominal
$23.12B (2024)
GDP Per Capita
982 (2024)
Gini Index
35.30 (2014)
Govt Debt Pct Gdp
61.93 (2023)
Imports (US$)
$7.39B (2024)
Inflation Rate (%)
4.19 (2024)
Languages
French (2025)
Unemployment Rate (%)
3.44 (2024)
Youth Unemployment
6.53 (2024)
Economic Rankings
GDP Growth Rate
#15
Unemployment Rate
#47
GDP per Capita
#55
Reserves
#121
Exports
#129
Imports
#137
GDP (Nominal)
#138
Inflation Rate
#153
GDP (PPP)
#154
Quick Facts
Industries
tourism, banking, oil bunkering, maritime industries, transshipment and logistics, salt, aragonite, pharmaceuticals
Agricultural products
sugarcane, grapefruits, vegetables, bananas, tomatoes, chicken, tropical fruits, oranges, coconuts, mangoes/guavas (2023)
Labor force
237,100 (2024 est.)
Exports - partners
USA 36%, Zimbabwe 16%, Cote d'Ivoire 14%, Germany 8%, Guyana 8% (2023)
Imports - partners
USA 60%, Germany 13%, China 5%, Japan 3%, Brazil 2% (2023)
Exchange rates
Bahamian dollars (BSD) per US dollar -
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