Bahamas: Economic growth

* indicates monthly or quarterly data series
 Bahamas

Economic growth: the rate of change of real GDP

 Latest value 14.37
 Year 2022
 Measure percent
 Data availability 1961 - 2022
 Average 3.15
 Min - Max -23.51 - 26.14
 Source The World Bank
For that indicator, we provide data for the Bahamas from 1961 to 2022. The average value for the Bahamas during that period was 3.15 percent with a minimum of -23.51 percent in 2020 and a maximum of 26.14 percent in 1979. The latest value from 2022 is 14.37 percent. For comparison, the world average in 2022 based on 178 countries is 4.20 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
Bahamas - Economic growth - recent values

Historical chart
Bahamas - Economic growth - historical chart - 1961-2022




Economic growth in the Bahamas and other countries is calculated as the percent change in the GDP from one year to the next. It measures whether production has increased or decreased, and by how much.

Looking across many countries and over long periods of time, the average rate of economic growth is about 2-3 percent per year. That changes from year to year as the economy goes through recessions and expansions. However, if an economy routinely grows at about 5 percent or more per year, this is a substantial rate of economic growth. Economic growth of 7-8 percent is extraordinary.
Definition: Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2015 prices, expressed in U.S. dollars. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.


 Related indicators Latest value Reference Measure
 Economic growth 14.37 2022 percent
 GDP, constant dollars 12.3 2022 billion U.S. dollars
 GDP, current U.S. dollars 12.90 2022 billion U.S. dollars
 GDP per capita, current dollars 31,458.30 2022 U.S. dollars
 GDP per capita, PPP 34,197 2022 U.S. dollars
 GDP per capita, constant dollars 30,054.04 2022 U.S. dollars
 Economic growth, quarterly 13.08 Q3/2022 percent
 Economic growth Q-on-Q 1.50 Q3/2022 percent
 Gross Domestic Product (GDP) 3.21 Q3/2022 billion
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