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 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. GDP Annual Growth Rate in Bahamas is reported by the Central Bank of The Bahamas.
||1990 - 2013
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.