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Bahamas : economy statistics and industry reports

  • Updated on : 27 August 2012  Source : The World Factbook


$2.854 billion (2011 est.)
$2.591 billion (2010 est.)


$709.7 million (2011 est.)
$702.4 million (2010 est.)

Inflation rate (consumer prices)

3.2% (2011 est.)
1.3% (2010 est.)

Unemployment rate

14.2% (2009 est.)
8.7% (2008 est.)

GDP - per capita (PPP)

$31,400 (2011 est.)
$31,100 (2010 est.)
$31,100 (2009 est.)
note: data are in 2011 US dollars

National product real growth rate

-0.5% (2010 est.)
-3.9% (2009 est.)
-1.7% (2008 est.)

Internet users

115,800 (2009)

Telephones - mobile cellular

428,400 (2009)

Population growth rate

0.904% (2012 est.)


316,182 (July 2012 est.)
note: estimates for this country explicitly take into account the effects of excess mortality due to AIDS; this can result in lower life expectancy, higher infant mortality, higher death rates, lower population growth rates, and changes in the distribution of population by age and sex than would otherwise be expected

Historical background

Lucayan Indians inhabited the islands when Christopher COLUMBUS first set foot in the New World on San Salvador in 1492.

British settlement of the islands began in 1647; the islands became a colony in 1783.

Since attaining independence from the UK in 1973, The Bahamas has prospered through tourism and international banking and investment management.

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Economic 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.

Prior to 2006, a steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences led to solid GDP growth but since then tourism receipts have begun to drop off.

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