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%.
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.
The Bahamas GDP from 1980 to 2024
The total market value of goods and services produced annually in The Bahamas.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
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 |
