External balance on goods and services in Bahamas
Bahamas: External balance on goods and services was -3.7% in 2024. ◆ Volatile
External balance on goods and services in Bahamas, 1977–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in % of GDP.
Analysis
The most recent figure for external balance on goods and services in Bahamas is -3.7%, measured in 2024.
That represents a change of down 296.7% on the previous year and up 36.8% over ten years.
Over the whole period, external balance on goods and services in Bahamas peaked at 16.5% in 1977 and was at its lowest, -13.5%, in 2011.
That places Bahamas 99th out of 193 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services in Bahamas, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1977 | 16.5% | — |
| 1978 | 15.1% | -8.2% |
| 1979 | 8.7% | -42.8% |
| 1980 | 7.5% | -13.4% |
| 1981 | 5.0% | -33.2% |
| 1982 | 6.2% | +24.4% |
| 1983 | 8.6% | +37.2% |
| 1984 | 5.3% | -38.2% |
| 1985 | 5.5% | +4.5% |
| 1986 | 5.9% | +7.1% |
| 1987 | 5.5% | -6.7% |
| 1989 | -3.3% | -160.5% |
| 1990 | -1.8% | -46.1% |
| 1991 | -4.2% | +134.4% |
| 1992 | -1.0% | -77.1% |
| 1993 | 0.6% | -159.3% |
| 1994 | -2.4% | -511.4% |
| 1995 | -5.4% | +127.5% |
| 1996 | -9.8% | +82.2% |
| 1997 | -6.0% | -38.9% |
| 1998 | -8.4% | +40.8% |
| 1999 | -2.8% | -66.8% |
| 2000 | -3.5% | +27.3% |
| 2001 | -4.4% | +22.7% |
| 2002 | 2.1% | -147.6% |
| 2003 | 0.6% | -73.1% |
| 2004 | 0.4% | -23.1% |
| 2005 | -3.9% | -1004.7% |
| 2006 | -10.9% | +182.0% |
| 2007 | -7.8% | -28.4% |
| 2008 | -8.4% | +7.8% |
| 2009 | -8.1% | -3.6% |
| 2010 | -8.8% | +7.7% |
| 2011 | -13.5% | +53.5% |
| 2012 | -8.0% | -40.6% |
| 2013 | -4.8% | -39.5% |
| 2014 | -5.8% | +20.2% |
| 2015 | 2.0% | -134.2% |
| 2016 | -1.5% | -176.0% |
| 2017 | -4.9% | +223.5% |
| 2018 | -1.7% | -66.2% |
| 2019 | 1.2% | -171.2% |
| 2020 | -6.9% | -685.0% |
| 2021 | -10.0% | +45.3% |
| 2022 | -1.7% | -83.3% |
| 2023 | -0.9% | -44.4% |
| 2024 | -3.7% | +296.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 13.4% | 8.7% | 16.5% | 3 |
| 1980s | 5.1% | -3.3% | 8.6% | 9 |
| 1990s | -4.1% | -9.8% | 0.6% | 10 |
| 2000s | -4.4% | -10.9% | 2.1% | 10 |
| 2010s | -4.6% | -13.5% | 2.0% | 10 |
| 2020s | -4.6% | -10.0% | -0.9% | 5 |
Countries ranked near Bahamas
- 96 Niger -2.4% compare
- 97 Benin -3.0% compare
- 98 United States of America -3.1% compare
- 100 Sri Lanka -3.9% compare
- 101 Bolivia, Plurinational State of -4.1% compare
- 102 Dominican Republic -4.2% compare
More economy & growth data for Bahamas
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 0.9419 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 1.5 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 162.94 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0103 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 406.05 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 240.55 million BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual -25.4 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0152 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 599.46 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate 4.79 % change on previous year (2024)
Frequently asked questions
- What is external balance on goods and services in Bahamas?
- External balance on goods and services in Bahamas was -3.7% in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest external balance on goods and services recorded in Bahamas?
- The highest recorded value was 16.5% in 1977.
- What is the lowest external balance on goods and services recorded in Bahamas?
- The lowest recorded value was -13.5% in 2011.
- How does Bahamas rank for external balance on goods and services?
- Bahamas ranks 99th out of 193 countries with data for 2024.
- Is external balance on goods and services rising or falling in Bahamas?
- Over the last ten years it is up 36.8%. The long-run trend across the full record is volatile.
- Where does this Bahamas data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of External balance on goods and services (% of GDP). Statizoid updates them automatically from the source API.
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About this data
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.