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Bahamas

Commonwealth of The Bahamas

Last updated: 2026-03-28 (today)

Budget

note

note: 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.)

expenditures

$3.389 billion (2023 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$5.425 billion (2022 est.)

Exports 2023

$6.011 billion (2023 est.)

Exports 2024

$6.771 billion (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$5.843 billion (2022 est.)

Imports 2023

$6.273 billion (2023 est.)

Imports 2024

$7.069 billion (2024 est.)

Industries

tourism, banking, oil bunkering, maritime industries, transshipment and logistics, salt, aragonite, pharmaceuticals

Labor force

237,100 (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

note

note: central government debt as a % of GDP

Public debt 2023

73.7% of GDP (2023 est.)

Remittances

note

note: 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.)

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.)

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

Unemployment rate

note

note: % 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.)

Exports - partners

USA 36%, Zimbabwe 16%, Cote d'Ivoire 14%, Germany 8%, Guyana 8% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

USA 60%, Germany 13%, China 5%, Japan 3%, Brazil 2% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: 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.)

Real GDP growth rate

note

note: 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.)

Agricultural products

sugarcane, grapefruits, vegetables, bananas, tomatoes, chicken, tropical fruits, oranges, coconuts, mangoes/guavas (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

refined petroleum, ships, aluminum, shellfish, plastics (2023)

note: top five export commodities based on value in dollars

Imports - commodities

refined petroleum, ships, aircraft, cars, crude petroleum (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

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.)

Taxes and other revenues

16.2% (of GDP) (2023 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$15.833 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

64.3% (2024 est.)

government consumption

12.9% (2024 est.)

investment in inventories

1.1% (2024 est.)

investment in fixed capital

25.7% (2024 est.)

exports of goods and services

37.8% (2024 est.)

imports of goods and services

-41.5% (2024 est.)

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

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.)

Industrial production growth rate

12.5% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: 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.)

Youth unemployment rate (ages 15-24)

male

17.8% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

17.8% (2024 est.)

female

17.8% (2024 est.)

Reserves of foreign exchange and gold

note

note: 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.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

9.6% (2024 est.)

services

77.2% (2024 est.)

agriculture

0.5% (2024 est.)