Bahamas GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Bahamas expanded 1.90 percent in 2013 from the previous year. GDP Annual Growth Rate in Bahamas is reported by the Central Bank of The Bahamas. GDP Annual Growth Rate in Bahamas averaged 1.60 Percent from 1990 until 2013, reaching an all time high of 7.90 Percent in 1997 and a record low of -4.20 Percent in 2009. The Bahamas is one of the richest countries in the Caribbean. The most important sector of the economy is tourism, which employs around half of the labour force and accounts for 60 percent of GDP. Due to low taxes, The Bahamas is a major off-shore centre and financial services account for 12 percent of GDP. The shipping industry, one of the largest in the world, is also a valuable source of income. The Bahamas is heavily dependent on the United States, the country’s largest trading partner. The main obstacles to further development are high trade tariffs and overdependence on tourism. In the last few years, the government has also been retooling the financial sector, in order to diminish the impact of tax regulation in other countries. This page provides - Bahamas GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-17

Actual Previous Highest Lowest Forecast Dates Unit Frequency
1.90 1.80 7.90 -4.20 1.91 | 2014/12 1990 - 2013 Percent Yearly

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Bahamas GDP Annual Growth Rate
LIST BY COUNTRY

GDP Last Previous Highest Lowest Forecast Unit
GDP 8.15 2012-12-31 7.87 8.32 0.17 8.28 2013-12-31 USD Billion [+]
GDP Annual Growth Rate 1.90 2013-12-31 1.80 7.90 -4.20 1.91 2014-12-31 Percent [+]
GDP per capita 21083.65 2012-12-31 21022.45 24212.39 12753.86 21137.26 2013-12-31 USD [+]
GDP per capita PPP 27260.12 2012-12-31 27180.99 31305.43 23114.62 27320.97 2013-12-31 USD [+]
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GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


RELATED NEWS

Bahamas Inflation Rate at 1.74 Percent  
The inflation rate in Bahamas was recorded at 1.74 percent in February of 2014. Inflation Rate in Bahamas is reported by the Department of Statistics of The Bahamas.
Bahamas Personal Income Tax Rate at 0.00 percent  
The Personal Income Tax Rate in Bahamas stands at 0 percent. Personal Income Tax Rate in Bahamas is reported by the Ministry of Finance, Bahamas.
Bahamas Unemployment Rate at 15.40 Percent  
Unemployment Rate in Bahamas increased to 15.40 percent in 2013 from 14 percent in 2012. Unemployment Rate in Bahamas is reported by the Bahamas Department of Statistics.
Bahamas GDP Annual Growth Rate at 1.90 Percent  
The Gross Domestic Product (GDP) in Bahamas expanded 1.90 percent in 2013 from the previous year. GDP Annual Growth Rate in Bahamas is reported by the Central Bank of The Bahamas.
Bahamas Visitor Arrivals at 1600981.00 Persons  
Tourist Arrivals in Bahamas increased to 1600981 Persons in the fourth quarter of 2013 from 1325162 Persons in the third quarter of 2013. Tourist Arrivals in Bahamas is reported by the Central Bank of The Bahamas.
Bahamas Interest Rate at 4.50 Percent  
The benchmark interest rate in Bahamas was last recorded at 4.50 percent. Interest Rate in Bahamas is reported by the Central Bank of The Bahamas.
Bahamas Corporate Tax Rate at 0.00 percent  
The Corporate Tax Rate in Bahamas stands at 0 percent. Corporate Tax Rate in Bahamas is reported by the Ministry of Finance, Bahamas.
Bahamas Balance of Trade at -515222.00 Thousand Bahamian Dollars  
Bahamas recorded a trade deficit of 515222 Thousand Bahamian Dollars in the second quarter of 2013. Balance of Trade in Bahamas is reported by the Central Bank of The Bahamas.
Bahamas Exports at 86716.00 Thousand Bahamian Dollars  
Exports in Bahamas increased to 86716 Thousand Bahamian Dollars in the second quarter of 2013 from 65088 Thousand Bahamian Dollars in the first quarter of 2013. Exports in Bahamas is reported by the Central Bank of The Bahamas.
Bahamas Imports at 601938.00 Thousand Bahamian Dollars  
Imports in Bahamas increased to 601938 Thousand Bahamian Dollars in the second quarter of 2013 from 575313 Thousand Bahamian Dollars in the first quarter of 2013. Imports in Bahamas is reported by the Central Bank of The Bahamas.
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