Overview: The Bahamas is a stable, developing nation whose economy is based primarily on tourism and offshore banking. Tourism alone provides about 50% of GDP and directly or indirectly employs about 50,000 people or 40% of the local work force. The economy has slackened in recent years, as the annual increase in the number of tourists slowed. Nonetheless, per capita GDP is one of the highest in the region.
National product: GDP - purchasing power parity - $4.4 billion (1994 est.)
National product real growth rate: 3.5% (1994 est.)
National product per capita: $15,900 (1994 est.)
Inflation rate (consumer prices): 2.7% (1994)
Unemployment rate: 13.1% (1993)
Budget:
revenues: $696 million
expenditures: $756 million, including capital expenditures of $NA
(FY94/95)
Exports: $257 million (f.o.b., 1993 est.)
commodities: pharmaceuticals, cement, rum, crawfish, refined petroleum
products
partners: US 51%, UK 7%, Norway 7%, France 6%, Italy 5%
Imports: $1.15 billion (f.o.b,,1993 est.)
commodities: foodstuffs, manufactured goods, crude oil, vehicles,
electronics
partners: US 55%, Japan 17%, Nigeria 12%, Denmark 7%, Norway 6%
External debt: $455 million (December 1993)