WTO Report - The Future of Trade: The Challenges of Convergence
The Bahamas - Trade Profile UWI's Shridath Ramphal Centre
1. Population: 342,000
THE BAHAMAS Area: 13,939 sq km (5,382 sq miles)
MAIN ECONOMIC INDICATORS
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
GDP ($US, billion) 5.65 5.76 6.08 6.19 6.19 6.80 7.28 7.50 7.56 7.34 7.42
GDP (% change) 3.7 -0.3 2.6 -0.9 -0.8 5.7 4.3 0.7 -1.7 -5.0 -0.5
GDP per capita ($US) 18,658 18,741 19,487 19,560 19,302 20,917 22,094 22,449 22,359 21,529 21,539
Current account balance ($US, billion) -0.63 -0.59 -0.42 -0.32 -0.17 -0.65 -1.37 -1.32 -1.17 -0.83 -1.07
Current account balance (% of GDP) -11.2 -10.3 -7.0 -5.2 -2.8 -9.6 -18.9 -17.5 -15.4 -11.4 -14.4
Inflation (% change) 1.7 2.0 2.2 3.0 1.0 2.2 1.8 2.5 4.5 2.1 1.7
Unemployment+ (%) - 7 9 11 10 10 8 8 - - -
GDP (% change) Inflation (% change) GDP Current account balance
8.00
6.5
7.00
4.5 6.00
5.00
2.5
$US Billions
4.00
% 0.5 3.00
2.00
-1.5 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
1.00
0.00
-3.5
-1.00 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
-5.5 -2.00
Source: IMF World Economic Outlook April 2010
+
Source: The World Bank - http://databank.worldbank.org
*Numbers in italics represent estimates
2. Population: 342,000
THE BAHAMAS Area: 13,939 sq km (5,382 sq miles)
MAIN TRADE INDICATORS – GOODS
2004 2005 2006 2007 2008
Trade Balance ($US thousands) -1,574,828 -2,295,828 -2,474,890 -2,432,625 -2,528,440
Total Exported Value ($US thousands) 401,311 270,849 509,420 669,977 701,529
Total Imported Value ($US thousands) 1,976,139 2,566,677 2,984,310 3,102,602 3,229,969
Top 10 Markets by % of Total Exported Value (2008) Top 10 Markets by % of Total Imported Value (2008)
United States of America 70% United States of America 87%
Canada 5% Venezuela 5%
Germany 4% Netherland Antilles 2%
France 4% Trinidad and Tobago 1%
Netherlands 3% Japan 1%
Nigeria 2% United Kingdom 0.4%
Turks & Caicos Islands 2% Canada 0.4%
Mexico 1% Switzerland 0.4%
United Kingdom 1% France 0.3%
Argentina 1% Cuba 0.3%
Top 5 Exports by % of Total Exported Value (2008) Salt, sulphur, Works of art, Top 5 Imports by % of Total Imported Value (2008)
earth, stone, collectors
plaster, lime pieces and Vehicles other
Plastics and than railway,
and cement, antiques, 4%
articles thereof, tramway, 5%
Organic 6%
22%
chemicals, 11%
Electrical,
Mineral fuels, electronic
Fish, oils, distillation equipment, 5%
crustaceans, products, etc,
Nuclear
molluscs, 26%
Mineral fuels, reactors,
oils, distillation aquatic boilers,
products, etc, invertebrates machinery, etc,
20% nes, 12% 8%
Source: International Trade Centre – www.trademap.org
3. Population: 342,000
THE BAHAMAS Area: 13,939 sq km (5,382 sq miles)
MAIN TRADE INDICATORS – SERVICES
2004 2005 2006 2007 2008
Trade Balance ($US thousands) 1,012,780 1,224,490 825,210 1,019,730 1,190,625
Total Exported Value ($US thousands) 2,244,080 2,510,900 2,436,080 2,599,350 2,543,322
Total Imported Value ($US thousands) 1,231,300 1,286,410 1,610,870 1,579,620 1,352,697
Top Exports by % of Total Exported Value (2008) Top Imports by % of Total Imported Value (2008)
Other business services 33%
Travel 85%
Transportation 26%
Travel 23%
Other business services 12% Insurance services 8%
Government services 7%
Transportation 2% Construction services 2%
Royalties and license fees 1%
Personal, cultural & recreational services 0.1%
Government services 2%
Communications services 0.1%
Source: International Trade Centre – www.trademap.org