The Bahamian economy is based primarily on tourism, which is concentrated mainly in Nassau and Grand Bahama. According to the Economist Intelligence Unit, tourism and construction are largely responsible for a real GDP growth of about 4 percent annually since 1996. Another important economic sector is financial services, which places the Bahamas among the world’s leading financial centers.
Major industries include tourism, banking, cement, oil refining and transshipment, salt production, rum, aragonite, pharmaceuticals, and spiral-welded steel pipe. Major agricultural products include citrus, vegetables, and poultry.
GDP: $3.9 billion
GDP growth rate: 3%
Per capita GDP: $13,567
Exports of goods and services: $1.8 billion
Major export trading partners: US 22.3%, Switzerland 15.6%, UK 15.0%, Denmark 7.4%
Imports of goods and services: $2.3 billion
Major import trading partners: US 27.3%, Italy 26.5%, Japan 10.0%, Denmark 4.2%
Foreign direct investment (net): $226 million