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2022
Product
Exports | Imports $2.83B | $8.55B139 of 226 |  124 of 226
2022
Per Capita Product
Exports | Imports $6.91k | $20.9k53 of 220 |  22 of 220

About

Overview In 2022 Bahamas was the number 139 economy in the world in terms of total exports and the number 124 in total imports.

Exports The top exports of Bahamas are Refined Petroleum ($1.24B), Special Purpose Ships ($576M), Passenger and Cargo Ships ($196M), Raw Aluminium ($172M), and Scrap Vessels ($101M), exporting mostly to United States ($1.4B), Cote d'Ivoire ($576M), Germany ($255M), Thailand ($185M), and Poland ($114M).

Imports The top imports of Bahamas are Refined Petroleum ($3.86B), Passenger and Cargo Ships ($759M), Recreational Boats ($245M), Cars ($202M), and Special Purpose Ships ($182M), importing mostly from United States ($5.01B), South Korea ($537M), Germany ($490M), China ($405M), and Brazil ($324M).

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

Latest Trends

Latest Trade

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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Bahamas.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Refined Petroleum$1.24B
Top Destination (2022)United States$1.4B

In 2022, Bahamas exported a total of $2.83B, making it the number 139 exporter in the world. During the last five reported years the exports of Bahamas have changed by $1.49B from $1.34B in 2017 to $2.83B in 2022.

The most recent exports are led by Refined Petroleum ($1.24B), Special Purpose Ships ($576M), Passenger and Cargo Ships ($196M), Raw Aluminium ($172M), and Scrap Vessels ($101M). The most common destination for the exports of Bahamas are United States ($1.4B), Cote d'Ivoire ($576M), Germany ($255M), Thailand ($185M), and Poland ($114M).

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Exports (2022)
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Destinations (2022)
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Market Growth

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Growth
Fastest Growing Export Markets (2021 - 2022)
United States$1.11B (+ 388%)
Cote d'Ivoire$319M (+ 124%)
Germany$94.2M (+ 58.7%)
Fastest Growing Import Markets (2021 - 2022)
United States$2.41B (+ 92.3%)
Italy$119M (+ 792%)
Japan$73.8M (+ 37.1%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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Service Trade

Service Trade

Bahamas Exports Services (2020)$1.26B
Bahamas Imports Services (2020)$1.37B

In 2020, Bahamas exported $1.26B worth of services. The top services exported by Bahamas in 2020 were Personal travel ($967M), Miscellaneous business, professional, and technical services ($210M), Other government services ($35.2M), Air transport ($23.2M), and Sea transport ($20.8M).

The top services imported by Bahamas in 2020 were Miscellaneous business, professional, and technical services ($572M), Other government services ($218M), Reinsurance ($138M), Sea transport ($115M), and Personal travel ($102M).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Most Specialized Products by RCA Index

Bahamas has a high level of specialization in Scrap Vessels (433), Documents of title (bonds etc) and unused stamps (201), Video Cameras (177), Special Purpose Ships (170), and Gravel and Crushed Stone (67.1). 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

The highest complexity exports of Bahamas according to the product complexity index (PCI) are Machine-tools; for planing, shaping, slotting, broaching, gear cutting and grinding, finishing, sawing,... (2.08), Engravings, prints and lithographs; original (1.62), Tools, hand; (including glaziers' diamonds) n.e.c.; blow lamps; vices, clamps etc, other... (1.5), Heterocyclic compounds with nitrogen hetero-atom(s) only (1.17), and Machines for additive manufacturing (1.09). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Bahamas according to the relatedness index, were Crude Petroleum (0.067), Non-fillet Fresh Fish (0.065), Scrap Lead (0.062), Surveying Equipment (0.062), and Scrap Copper (0.061). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Bahamas is not specialized in.

Product Space

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 a country currently specializes in.

Relatedness Space

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.

Relatedness Space (2022)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.

Diversification Frontier

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