Taxes on income vs. taxes on goods and services in Bahamas
Bahamas: Taxes on income vs. taxes on goods and services was 11.4% in 2023. ◆ Volatile
Taxes on income vs. taxes on goods and services in Bahamas, 1980–2023
Source: UNU-WIDER Government Revenue Dataset (2025) – with major processing by Our World in Data. Measured in % of GDP.
Analysis
Bahamas recorded 11.4% for taxes on income vs. taxes on goods and services in 2023.
Compared with earlier readings it is up 0.3% on the previous year and up 535.7% over ten years.
Over the whole period, taxes on income vs. taxes on goods and services in Bahamas peaked at 13.5% in 2020 and was at its lowest, 0.3%, in 1993.
That places Bahamas 45th out of 187 countries with data for 2023, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Taxes on income vs. taxes on goods and services in Bahamas, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1980 | 0.9% | — |
| 1981 | 0.9% | -2.2% |
| 1982 | 0.7% | -13.1% |
| 1983 | 0.9% | +20.9% |
| 1984 | 1.0% | +15.8% |
| 1985 | 0.9% | -14.8% |
| 1986 | 0.9% | +1.8% |
| 1988 | 1.1% | +20.1% |
| 1989 | 1.0% | -8.6% |
| 1990 | 1.2% | +22.2% |
| 1991 | 1.2% | +1.0% |
| 1992 | 0.5% | -59.3% |
| 1993 | 0.3% | -41.1% |
| 1994 | 0.6% | +92.9% |
| 1995 | 1.0% | +80.1% |
| 1996 | 0.6% | -41.0% |
| 1997 | 0.6% | +7.1% |
| 1998 | 0.7% | +14.0% |
| 1999 | 0.6% | -17.1% |
| 2000 | 1.5% | +141.5% |
| 2001 | 1.1% | -23.4% |
| 2002 | 1.1% | +1.7% |
| 2003 | 1.0% | -15.4% |
| 2004 | 1.3% | +33.0% |
| 2005 | 1.8% | +41.7% |
| 2006 | 3.3% | +79.5% |
| 2007 | 3.7% | +11.3% |
| 2008 | 1.5% | -58.9% |
| 2009 | 3.7% | +148.8% |
| 2010 | 3.7% | -2.2% |
| 2011 | 2.2% | -40.4% |
| 2012 | 1.9% | -10.8% |
| 2013 | 1.8% | -8.2% |
| 2014 | 2.4% | +31.8% |
| 2015 | 4.1% | +74.0% |
| 2016 | 7.1% | +72.7% |
| 2017 | 7.2% | +2.3% |
| 2018 | 10.1% | +39.6% |
| 2019 | 12.6% | +24.2% |
| 2020 | 13.5% | +7.7% |
| 2021 | 10.3% | -24.1% |
| 2022 | 11.3% | +10.4% |
| 2023 | 11.4% | +0.3% |
Bahamas compared with similar countries
- Bahamas's 11.4% is above the median for high income countries, which is 10.3%, 1.1× the median. (63 countries reporting)
- Bahamas's 11.4% is above the median for Latin America & Caribbean, which is 8.4%, 1.3× the median. (33 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 0.9% | 0.7% | 1.1% | 9 |
| 1990s | 0.7% | 0.3% | 1.2% | 10 |
| 2000s | 2.0% | 1.0% | 3.7% | 10 |
| 2010s | 5.3% | 1.8% | 12.6% | 10 |
| 2020s | 11.6% | 10.3% | 13.5% | 4 |
Countries ranked near Bahamas
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 taxes on income vs. taxes on goods and services in Bahamas?
- Taxes on income vs. taxes on goods and services in Bahamas was 11.4% in 2023, according to UNU-WIDER Government Revenue Dataset (2025) – with major processing by Our World in Data.
- What is the highest taxes on income vs. taxes on goods and services recorded in Bahamas?
- The highest recorded value was 13.5% in 2020.
- What is the lowest taxes on income vs. taxes on goods and services recorded in Bahamas?
- The lowest recorded value was 0.3% in 1993.
- How does Bahamas rank for taxes on income vs. taxes on goods and services?
- Bahamas ranks 45th out of 187 countries with data for 2023.
- Is taxes on income vs. taxes on goods and services rising or falling in Bahamas?
- Over the last ten years it is up 535.7%. The long-run trend across the full record is volatile.
- Where does this Bahamas data come from?
- The figures come from UNU-WIDER Government Revenue Dataset (2025) – with major processing by Our World in Data, published as part of Taxes on income vs. taxes on goods and services. Statizoid updates them automatically from the source API.
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About this data
Total taxes on income (individual and corporate) vs. total taxes on goods and services (including VAT and sales taxes), as a share of GDP.