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Gross Domestic Product (GDP) in Bahamas

GDP of Bahamas, 1970-2015

During 1970-2015 GDP of Bahamas in current prices increased by 8.3 billion US dollars (in 15.6 times) to 8.9 billion US dollars; change occurred by 0.73 billion US dollars by increasing of people by 0.22 million, as well as by 7.6 billion US dollars by increasing of GDP per capita by 19 461.0 US dollars. The average annual growth of GDP of Bahamas was 0.18 billion US dollars or 6.3%. The average annual growth of GDP of Bahamas in constant prices was 2.0%. Share in the world dropped by 0.0048%. Share in Americas declined by 0.0068%. Minimal GDP was in 1970 (0.57 billion US dollars). Maximal GDP was in 2015 (8.9 billion US dollars).

During 1970-2015 GDP per capita in Bahamas increased by 19 461.0 US dollars (in 6.8 times) to 22 817.0 US dollars. The average annual growth of GDP per capita in current prices was 432.5 US dollars or 4.4%.

Change of GDP of Bahamas described by linear regression model: y=0.21x-412.3, where y - estimated value of GDP of Bahamas, x - year. Correlation rate = 0.985. Determination rate = 0.971.

GDP of Bahamas, 1970

GDP of Bahamas in 1970 was 0.57 billion US dollars, ranked 105th in the world and was on par with GDP of Jordan (0.59 bln. US dollars), GDP of Yemen (0.55 bln. US dollars), GDP of Qatar (0.54 bln. US dollars), GDP of Iceland (0.53 bln. US dollars). Share of Bahamas in the world GDP was 0.017%.

GDP per capita in Bahamas in 1970 was equal to 3 356.0 US dollars, ranked 17th in the world and was on par with GDP per capita in Australia (3 496.0 US dollars), GDP per capita in Denmark (3 464.0 US dollars), GDP per capita in Norway (3 306.0 US dollars). GDP per capita in Bahamas was greater than GDP per capita in the World (924.0 US dollars) by 2 432.0 US dollars.

Comparison of GDP in Bahamas and the neighbors in 1970. GDP of Bahamas was greater than GDP of Turks and Caicos Islands (0.0 billion US dollars), but was less than GDP of the United States (1 075.9 billion US dollars), GDP of Cuba (5.7 billion US dollars). GDP per capita in Bahamas was greater than GDP per capita in Turks and Caicos Islands (1 735.9 US dollars), GDP per capita in Cuba (653.0 US dollars), but was less than GDP per capita in the United States (5 136.0 US dollars).

Comparison of GDP in Bahamas and leaders in 1970. GDP of Bahamas was less than GDP of the United States (1 075.9 billion US dollars) in 1 893.1 times, GDP of Germany (215.0 billion US dollars) in 378.3 times, GDP of Japan (211.5 billion US dollars) in 372.2 times, GDP of the United Kingdom (130.7 billion US dollars) in 229.9 times, GDP of China (89.6 billion US dollars) in 157.7 times. GDP per capita in Bahamas was greater than GDP per capita in Germany (2 744.0 US dollars) by 22.3%, GDP per capita in the United Kingdom (2 350.0 US dollars) by 42.8%, GDP per capita in Japan (2 040.0 US dollars) by 64.5%, GDP per capita in China (111.0 US dollars) in 30.2 times, but was less than GDP per capita in the United States (5 136.0 US dollars) by 53%.

Potential GDP of Bahamas in 1970. With GDP per capita at the level of the United States (5 136.0 US dollars), GDP of Bahamas would be 0.87 billion US dollars, it is by 53% more than the actual level.

GDP of Bahamas, 2015

GDP of Bahamas in 2015 was 8.9 billion US dollars, ranked 143rd in the world and was on par with GDP of New Caledonia (8.9 bln. US dollars), GDP of Guinea (8.9 bln. US dollars), GDP of Haiti (8.5 bln. US dollars), GDP of Congo (8.5 bln. US dollars), GDP of Benin (8.5 bln. US dollars). Share of Bahamas in the world GDP was 0.012%.

GDP per capita in Bahamas in 2015 was 22 817.0 US dollars, ranked 45th in the world and was on par with GDP per capita in Malta (23 281.0 US dollars), GDP per capita in Bahrain (22 600.0 US dollars), GDP per capita in Cyprus (21 942.0 US dollars), GDP per capita in Anguilla (21 824.3 US dollars). GDP per capita in Bahamas was greater than GDP per capita in the World (10 098.0 US dollars) by 12 719.0 US dollars.

Comparison of GDP in Bahamas and the neighbors in 2015. GDP of Bahamas was greater than GDP of Turks and Caicos Islands (0.9 billion US dollars), but was less than GDP of the United States (18 036.6 billion US dollars), GDP of Cuba (87.2 billion US dollars). GDP per capita in Bahamas was greater than GDP per capita in Cuba (7 657.0 US dollars), but was less than GDP per capita in the United States (56 054.0 US dollars), GDP per capita in Turks and Caicos Islands (25 121.8 US dollars).

Comparison of GDP in Bahamas and leaders in 2015. GDP of Bahamas was less than GDP of the United States (18 036.6 billion US dollars) in 2 037.2 times, GDP of China (11 158.5 billion US dollars) in 1 260.3 times, GDP of Japan (4 383.1 billion US dollars) in 495.1 times, GDP of Germany (3 363.6 billion US dollars) in 379.9 times, GDP of the United Kingdom (2 858.0 billion US dollars) in 322.8 times. GDP per capita in Bahamas was greater than GDP per capita in China (8 109.0 US dollars) in 2.8 times, but was less than GDP per capita in the United States (56 054.0 US dollars) in 2.5 times, GDP per capita in the United Kingdom (44 162.0 US dollars) by 93.5%, GDP per capita in Germany (41 686.0 US dollars) by 82.7%, GDP per capita in Japan (34 629.0 US dollars) by 51.8%.

Potential GDP of Bahamas in 2015. With GDP per capita at the level of the United States (56 054.0 US dollars), GDP of Bahamas would be 21.8 billion US dollars, it is in 2.5 times more than the actual level. With GDP per capita at the level of Americas (25 231.0 US dollars), GDP of Bahamas would be 9.8 billion US dollars, it is by 10.6% more than the actual level.

Size of GDP in Bahamas

Gross Domestic Product (GDP) in Bahamas, bln. US dollars
Prices197019801990200020102015
current prices0.571.63.76.37.98.9
constant prices19700.570.751.01.31.41.4
20053.14.15.67.17.67.7
Picture. Bahamas: GDP

GDP in Bahamas and its neighbors, bln. $
Country197019801990200020102015
United States1 075.92 862.55 979.610 284.814 964.418 036.6
Cuba5.719.928.630.664.387.2
Bahamas0.571.63.76.37.98.9
Turks and Caicos Islands0.00980.0320.110.320.690.86

GDP in Bahamas and leaders, bln. $
Country197019801990200020102015
United States1 075.92 862.55 979.610 284.814 964.418 036.6
China89.6305.3398.61 214.96 066.411 158.5
Japan211.51 099.73 140.04 887.55 700.14 383.1
Germany215.0946.71 764.91 950.03 417.13 363.6
United Kingdom130.7565.01 093.21 635.42 429.72 858.0
Bahamas0.571.63.76.37.98.9

Growth of GDP in Bahamas

Picture. Bahamas: GDP, growth Picture. Bahamas: GDP, growth

GDP per capita in Bahamas

Picture. Bahamas: GDP per capita Picture. Bahamas: GDP per capita

GDP per capita in Bahamas and its neighbors, $
Country197019801990200020102015
United States5 136.012 468.023 649.036 355.048 291.056 054.0
Turks and Caicos Islands1 735.94 275.89 169.816 923.322 158.725 121.8
Bahamas3 356.07 504.014 436.021 241.021 921.022 817.0
Cuba653.02 025.02 707.02 750.05 689.07 657.0

GDP per capita in Bahamas and leaders, $
Country197019801990200020102015
United States5 136.012 468.023 649.036 355.048 291.056 054.0
United Kingdom2 350.010 049.019 142.027 781.038 741.044 162.0
Germany2 744.012 113.022 353.023 810.042 483.041 686.0
Japan2 040.09 487.025 685.038 878.044 770.034 629.0
Bahamas3 356.07 504.014 436.021 241.021 921.022 817.0
China111.0312.0345.0957.04 524.08 109.0

Structure of GDP in Bahamas

Structure of GDP by expenditures, %
Yearconsumption expenditurecapital formationnet export
totalhousehold expendituregovernment expendituretotalfixed capital formation
197074.161.013.116.516.59.3
198057.844.413.313.913.228.3
199076.865.811.023.220.05.0
200074.663.810.827.925.9-2.5
201083.368.714.525.224.0-8.5
201581.465.416.027.226.2-8.6

© Ivan Kushnir

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