Flag Bahamas

Product Exports (2018): $1.17B, Rank 147 of 222

Exports Per Capita (2018): $3.04k, Rank 163 of 219

Product Imports (2018): $6.92B, Rank 116 of 221

Imports Per Capita (2018): $17.9k, Rank 120 of 219

Service Exports (2018): $3.74B, Rank 50 of 88

Service Imports (2018): $1.82B, Rank 62 of 88

GDP (2018): $12.4B, CURRENT US$
Rank 136 of 196

GDP growth (2008 - 2018): 18%, CURRENT US$
Rank 129 of 196

GDP PC (2018): $32,218, CURRENT US$
Rank 31 of 196

GDP PC GROWTH (2008 - 2018): 5.19%, CURRENT US$
Rank 128 of 196

Overview: This page contains the latest international trade data for Bahamas, including service trade data, and tariffs. In 2018 Bahamas was the number 136 economy in the world in terms of GDP (current US$), the number 147 in total exports, and the number 116 in total imports. In 2018, Bahamas exported $1.17B and imported $6.92B, resulting in a negative trade balance of -$5.75B. In 2018, Bahamas's exports per capita were $3.04k and its imports per capita were $17.9k.

Trade: The top exports of Bahamas are Passenger and Cargo Ships ($349M), Refined Petroleum ($347M), Nitrogen Heterocyclic Compounds ($87.5M), Crustaceans ($83.7M), and Styrene Polymers ($76.7M). The top imports of Bahamas are Passenger and Cargo Ships ($2.12B), Refined Petroleum ($2.09B), Crude Petroleum ($445M), Cars ($163M), and Coal Tar Oil ($70.1M).

Destinations: Bahamas exports mostly to Poland ($349M), United States ($301M), Germany ($72.3M), Ireland ($70.3M), and Angola ($59.3M), and imports mostly from United States ($2.21B), South Korea ($1.75B), Germany ($460M), Poland ($362M), and Colombia ($356M).

Location: Bahamas borders Cuba, Haiti, United States, and Turks and Caicos Islands by sea.

Yearly Exports

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Top Export (2018): Passenger and Cargo Ships, $349M

Top Destination (2018): Poland, $349M

In 2018 Bahamas exported a total of $1.17B, making it the number 147 exporter in the world. During the last five reported years the exports of Bahamas have changed by -$2.71B from $3.89B in 2013 to $1.17B in 2018.

The most recent exports are led by Passenger and Cargo Ships ($349M), Refined Petroleum ($347M), Nitrogen Heterocyclic Compounds ($87.5M), Crustaceans ($83.7M), and Styrene Polymers ($76.7M). The most common destination for the exports of Bahamas are Poland ($349M), United States ($301M), Germany ($72.3M), Ireland ($70.3M), and Angola ($59.3M).

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Yearly Imports

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Top Import (2018): Passenger and Cargo Ships, $2.12B

Top Origin (2018): United States, $2.21B

In 2018 Bahamas imported $6.92B, making it the number 116 trade destination in the world. During the last five reported years the imports of Bahamas changed by -$906M from $7.82B in 2013 to $6.92B in 2018.

The most recent imports of Bahamas are led by Passenger and Cargo Ships ($2.12B), Refined Petroleum ($2.09B), Crude Petroleum ($445M), Cars ($163M), and Coal Tar Oil ($70.1M). The most common import partners for Bahamas are United States ($2.21B), South Korea ($1.75B), Germany ($460M), Poland ($362M), and Colombia ($356M).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Bahamas Exports Services (2018): $3.74B

Bahamas Imports Services (2018): $1.82B

In 2018, Bahamas exported $3.74B worth of services. The top services exported by Bahamas in 2018 were Personal travel ($3.36B), Miscellaneous business, professional, and technical services ($268M), Air transport ($53M), Embassies and consulates ($31.1M), and Sea transport ($23.5M).

The top services imported by Bahamas in 2018 were Miscellaneous business, professional, and technical services ($637M), Personal travel ($315M), Air transport ($303M), Sea transport ($185M), and Other government services ($135M).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Bahamas. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Bahamas are Ice, snow and potable water not sweetened or flavoure (100%) and Mineral and aerated waters not sweetened or flavoured (100%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Bahamas are:
136: Most Favoured Nation duty rate treatement
219: Preferential tariff for European Union countries (AA) Association Agreement

Economic Complexity

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Most Specialized Products by RCA Index

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Bahamas has a high level of specialization in Salt (128), Gravel and Crushed Stone (127), Passenger and Cargo Ships (113), Aluminium Powder (65.7), and Crustaceans (49.5). Specialization is measured using RCA, an index that takes the ratio between Bahamas observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Bahamas according to the product complexity index (PCI) are Machine-tools for shaping metals, nes (2.02), Calendaring, rolling machines, except for metal, glass (1.92), Machinery, apparatus, equipment for print preparation (1.23), Parts of railway, tramway locomotives, rolling-stock (1.11), and Heterocyclics, nitrogen hetero atom only, nucleic acid (1.09). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Bahamas according to the relatedness index, are Crude Petroleum (0.064), Cocoa Beans (0.058), Petroleum Gas (0.057), Non-fillet Fresh Fish (0.057), and Non-fillet Frozen Fish (0.055). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Bahamas is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.