The Bahamas's GDP changed from approximately $2B 598M in 1980 to $14B 390M in 2024, showing an overall 453.9% sharply increased during the period.
The lowest GDP was recorded in 1980 at $2B 598M, and the highest in 2024 at $14B 390M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 4.0%.
For comparison, the average annual growth rate of Jamaica was 4.8%, and that of Dominican Republic was 6.3%.
The Bahamas GDP from 1980 to 2024
The total market value of goods and services produced annually in The Bahamas.
Overview of The Bahamas's GDP (1980–2024)
The Gross Domestic Product (GDP) of The Bahamas recorded a 453.9% sharply increased from 1980 to 2024.
The average GDP during this period was $8B 160M, and the median was $8B 870M.
GDP fluctuated within a range of $11B 792M, with a standard deviation of $3B 368M.
The average annual change was $250M 876K.
Highest and Lowest GDP Records
- Lowest GDP: 1980, $2B 598M
- Highest GDP: 2024, $14B 390M
- Most Recent GDP: 2024, $14B 390M
Notable Annual GDP Changes
- 2021: Significant increase in GDP
- 2020: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and The Bahamas's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $13B 59M → $9B 755M
- Outcome: sharply declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $10B 618M → $9B 982M
- Outcome: declined
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $8B 76M → $8B 318M
- Outcome: increased
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $6B 332M → $6B 833M
- Outcome: increased
Key Economic Indicators of The Bahamas (1980–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 2B 598M | $ 12,291.74 | $ 12,574.78 | $ 2B 658M | 7.1 % | -0.585 % | 13.40 % | 0 % | 211,000 people |
1981 | $ 2B 692M | $ 12,496.22 | $ 13,115.52 | $ 2B 825M | -2.9 % | -3.05 % | 10.94 % | 0 % | 215,000 people |
1982 | $ 3B 31M | $ 13,749.50 | $ 14,465.33 | $ 3B 189M | 6.3 % | -2.151 % | 11.84 % | 0 % | 220,000 people |
1983 | $ 3B 373M | $ 14,961.60 | $ 15,695.59 | $ 3B 539M | 6.8 % | -1.153 % | 12.84 % | 0 % | 225,000 people |
1984 | $ 3B 603M | $ 15,630.10 | $ 16,288.79 | $ 3B 754M | 2.4 % | -1.33 % | 12.66 % | 0 % | 230,000 people |
1985 | $ 3B 923M | $ 16,801.08 | $ 17,266.63 | $ 4B 32M | 4.1 % | -1.012 % | 12.98 % | 0 % | 234,000 people |
1986 | $ 4B 240M | $ 17,854.14 | $ 17,765.93 | $ 4B 219M | 2.6 % | -0.764 % | 13.37 % | 0 % | 238,000 people |
1987 | $ 4B 669M | $ 19,329.93 | $ 18,565.08 | $ 4B 485M | 3.7 % | -1.174 % | 9.94 % | 0 % | 242,000 people |
1988 | $ 4B 855M | $ 19,687.50 | $ 19,252.12 | $ 4B 747M | 2.255 % | -1.37 % | 9.74 % | 0 % | 247,000 people |
1989 | $ 5B 473M | $ 21,818.62 | $ 20,122.28 | $ 5B 47M | 2.3 % | -1.747 % | 13.39 % | 0 % | 251,000 people |
1990 | $ 5B 218M | $ 20,460.30 | $ 20,745.34 | $ 5B 291M | 1.052 % | -0.77 % | 14.75 % | -1.458 % | 255,000 people |
1991 | $ 5B 128M | $ 19,767.72 | $ 20,202.66 | $ 5B 241M | -4.182 % | -3.549 % | 12.08 % | -0.857 % | 259,000 people |
1992 | $ 5B 125M | $ 19,417.22 | $ 19,532.78 | $ 5B 156M | -3.826 % | 0.649 % | 13.14 % | -0.84 % | 264,000 people |
1993 | $ 5B 97M | $ 18,979.01 | $ 19,714.31 | $ 5B 294M | 0.308 % | 5.62 % | 12.40 % | 0.459 % | 269,000 people |
1994 | $ 5B 372M | $ 19,660.92 | $ 20,414.21 | $ 5B 577M | 3.149 % | 3.801 % | 12.01 % | 1.055 % | 273,000 people |
1995 | $ 5B 653M | $ 20,271.25 | $ 21,313.72 | $ 5B 944M | 4.379 % | 2.314 % | 10.95 % | 1.619 % | 279,000 people |
1996 | $ 5B 950M | $ 20,974.53 | $ 22,237.93 | $ 6B 308M | 4.224 % | 0.297 % | 9.74 % | 1.316 % | 284,000 people |
1997 | $ 6B 332M | $ 21,951.76 | $ 23,345.10 | $ 6B 734M | 4.946 % | -5.358 % | 31.23 % | -0.073 % | 288,000 people |
1998 | $ 6B 833M | $ 23,300.82 | $ 24,316.82 | $ 7B 131M | 4.716 % | -10.086 % | 28.27 % | 1.018 % | 293,000 people |
1999 | $ 7B 684M | $ 25,780.49 | $ 25,998.16 | $ 7B 749M | 7.144 % | 1.358 % | 36.95 % | 3.141 % | 298,000 people |