Overview In 2019 Bahamas was the number 130 economy in the world in terms of GDP (current US$), the number 151 in total exports, the number 108 in total imports, the number 28 economy in terms of GDP per capita (current US$) and the number null most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Bahamas are Passenger and Cargo Ships ($604M), Refined Petroleum ($101M), Nitrogen Heterocyclic Compounds ($86.7M), Crustaceans ($78.5M), and Styrene Polymers ($65.8M), exporting mostly to Poland ($392M), United States ($209M), Ecuador ($115M), China ($76M), and Japan ($57.9M).

Imports The top imports of Bahamas are Passenger and Cargo Ships ($3.4B), Refined Petroleum ($2.25B), Special Purpose Ships ($1.07B), Crude Petroleum ($243M), and Recreational Boats ($175M), importing mostly from United States ($2.95B), South Korea ($2.79B), Japan ($1.29B), China ($355M), and Russia ($281M).

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

Historical Data

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Yearly Exports

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Top Export (2019): Passenger and Cargo Ships, $604M

Top Destination (2019): Poland, $392M

In 2019, Bahamas exported a total of $1.22B, making it the number 151 exporter in the world. During the last five reported years the exports of Bahamas have changed by -$3.42B from $4.64B in 2014 to $1.22B in 2019.

The most recent exports are led by Passenger and Cargo Ships ($604M), Refined Petroleum ($101M), Nitrogen Heterocyclic Compounds ($86.7M), Crustaceans ($78.5M), and Styrene Polymers ($65.8M). The most common destination for the exports of Bahamas are Poland ($392M), United States ($209M), Ecuador ($115M), China ($76M), and Japan ($57.9M).

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Yearly Imports

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Top Import (2019): Passenger and Cargo Ships, $3.4B

Top Origin (2019): United States, $2.95B

In 2019 Bahamas imported $9.51B, making it the number 108 trade destination in the world. During the last five reported years the imports of Bahamas changed by -$351M from $9.86B in 2014 to $9.51B in 2019.

The most recent imports of Bahamas are led by Passenger and Cargo Ships ($3.4B), Refined Petroleum ($2.25B), Special Purpose Ships ($1.07B), Crude Petroleum ($243M), and Recreational Boats ($175M). The most common import partners for Bahamas are United States ($2.95B), South Korea ($2.79B), Japan ($1.29B), China ($355M), and Russia ($281M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Bahamas Exports Services (2019): $4.47B

Bahamas Imports Services (2019): $1.83B

In 2019, Bahamas exported $4.47B worth of services. The top services exported by Bahamas in 2019 were Personal travel ($4.13B), Other business services ($207M), Transportation ($82.2M), and Government services, n.i.e. ($54.1M).

The top services imported by Bahamas in 2019 were Other business services ($648M), Transportation ($442M), Personal travel ($312M), Government services, n.i.e. ($187M), and Insurance services ($143M).

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.

*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 Passenger and Cargo Ships (128), Salt (122), Gravel and Crushed Stone (121), Styrene Polymers (47.4), and Crustaceans (42.8). 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 Parts and accessories for musical instruments (1.28), Heterocyclics, nitrogen hetero atom only, nucleic acid (1.06), Polymers of styrene, in primary forms (0.95), Composite diagnostic or laboratory reagents, nes (0.78), and Machine tools except lathes to drill, bore/mill/thread (0.63). 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), Non-fillet Fresh Fish (0.063), Non-fillet Frozen Fish (0.062), Gold (0.059), and Cocoa Beans (0.056). 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.

Relatedness Space

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This network shows the products most related to the production structure of Bahamas. These are products that tend to be co-exported with the products that Bahamas exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

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.