In 2023, the national gross income per capita in the Bahamas increased by 1,550 U.S. dollars (+4.88 percent) compared to 2022. While the growth is slowing down, with 33,330 U.S. dollars, the national gross income is at its peak in the observed period. Gross national income (GNI) per capita is the total amount of money received by a country (regardless of whether it originates in the country or abroad) divided by the midyear population. The World Bank uses a conversion system known as the Atlas method, which uses a price adjusted, three year moving average, which smooths out exchange rate fluctuations.Find more statistics on other topics about the Bahamas with key insights such as share of value added by the services industry to gross domestic product, value added by the services industry to the gross domestic product, and value added by the services industry to the gross domestic product.

Bahamas BS: Proportion of Population Spending More Than 25% of Household Consumption or Income on Out-of-Pocket Health Care Expenditure: % data was reported at 0.192 % in 2013. Bahamas BS: Proportion of Population Spending More Than 25% of Household Consumption or Income on Out-of-Pocket Health Care Expenditure: % data is updated yearly, averaging 0.192 % from Dec 2013 (Median) to 2013, with 1 observations. Bahamas BS: Proportion of Population Spending More Than 25% of Household Consumption or Income on Out-of-Pocket Health Care Expenditure: % data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Bahamas – Table BS.World Bank.WDI: Poverty. Proportion of population spending more than 25% of household consumption or income on out-of-pocket health care expenditure.; ; World Health Organization and World Bank. 2019. Global Monitoring Report on Financial Protection in Health 2019.; Weighted average;

In 2023, four Caribbean nations were the countries with the highest gross national income per capita in Latin America and the Caribbean. On average, the national gross income amounted to around 31,990 U.S. dollars per person in the Bahamas, an island country which also had one of the highest gross domestic product per capita in this region. Outside the Caribbean Excluding the Caribbean, the economies with the highest national income per capita are generally located in South America, with the exceptions of Panama, Costa Rica and Mexico. Guyana leads among continental states with a national income of around 20.360 U.S. dollars per person. Gross national income (GNI) is the aggregated sum of the value added by residents in an economy, plus net taxes (minus subsidies) and net receipts of primary income from abroad. The biggest economies Brazil and Mexico are still miles ahead in the race for the biggest economy of Latin America. As of 2023, both nations exceeded the two trillion U.S. dollars mark in their Gross Domestic Product (GDP). While Argentina's GDP, third place, slightly surpassed the 600 billion U.S. dollars. Nonetheless, both nations also ranked as the most populated by far in the region.

Bahamas BS: GDP: USD: Gross National Income per Capita: Atlas Method data was reported at 33,330.000 USD in 2023. This records an increase from the previous number of 31,780.000 USD for 2022. Bahamas BS: GDP: USD: Gross National Income per Capita: Atlas Method data is updated yearly, averaging 10,950.000 USD from Dec 1962 (Median) to 2023, with 62 observations. The data reached an all-time high of 33,330.000 USD in 2023 and a record low of 1,460.000 USD in 1962. Bahamas BS: GDP: USD: Gross National Income per Capita: Atlas Method data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Bahamas – Table BS.World Bank.WDI: Gross Domestic Product: Nominal. GNI per capita (formerly GNP per capita) is the gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.;World Bank national accounts data, and OECD National Accounts data files.;Weighted average;

According to this statistic, the gross domestic product (GDP) per capita in the Bahamas lies at approximately 36.78 thousand U.S. dollars in 2025.Fluctuating rise between 1980 and 2025A total increase by approximately 24.49 thousand U.S. dollars can be observed between 1980 and 2025. The data emphasizes however that this increase did not happen continuously.Continuous rise between 2025 and 2030In 2030 the GDP per capita will be roughly 41.24 thousand U.S. dollars, according to forecasts. This indicates an overall increase by approximately 4.46 thousand U.S. dollars since 2025. This growth reflects a steady upward trend.This indicator describes the gross domestic product per capita at current prices. Thereby the gross domestic product was first converted from national currency to U.S. dollars at current exchange prices and then divided by the total population. The gross domestic products is a measure of a country's productivity. It refers to the total value of goods and service produced during a given time period (here a year).

This map shows the purchasing power per capita in The Bahamas in 2022, in a multiscale map (Country and Island). Nationally, the purchasing power per capita is 19,255 Bahamian dollar. Purchasing Power describes the disposable income (income without taxes and social security contributions, including received transfer payments) of a certain area's population. The figures are in Bahamian dollar (BSD) per capita.The pop-up is configured to show the following information at each geography level:Purchasing power per capitaPurchasing power index per areaThe Purchasing Power Index compares the demand for a specific purchasing category in an area, with the national demand for that product or service. The index values at the national level are 100, representing average demand for the country. A value of more than 100 represents higher demand than the national average, and a value of less than 100 represents lower demand than the national average. For example, an index of 120 implies that demand in the area is 20 percent higher than the national average; an index of 80 implies that demand is 20 percent lower than the national average.The source of this data is Michael Bauer Research. The vintage of the data is 2022. This item was last updated in October, 2023 and is updated every 12-18 months as new annual figures are offered.Additional Esri Resources:Esri DemographicsThis item is for visualization purposes only and cannot be exported or used in analysis.We would love to hear from you. If you have any feedback regarding this item or Esri Demographics, please let us know.Permitted use of this data is covered in the DATA section of the Esri Master Agreement (E204CW) and these supplemental terms.

Bahamas BS: GDP: Growth: Adjusted Net National Income per Capita data was reported at 12.729 % in 2021. This records an increase from the previous number of -26.659 % for 2020. Bahamas BS: GDP: Growth: Adjusted Net National Income per Capita data is updated yearly, averaging -0.826 % from Dec 1990 (Median) to 2021, with 32 observations. The data reached an all-time high of 21.079 % in 1995 and a record low of -26.659 % in 2020. Bahamas BS: GDP: Growth: Adjusted Net National Income per Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Bahamas – Table BS.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Adjusted net national income is GNI minus consumption of fixed capital and natural resources depletion.;World Bank staff estimates based on sources and methods in World Bank's 'The Changing Wealth of Nations: Measuring Sustainable Development in the New Millennium' (2011).;Weighted average;

The Bahamas: Gini income inequality index: The latest value from is index points, unavailable from index points in . In comparison, the world average is 0.00 index points, based on data from countries. Historically, the average for the Bahamas from to is index points. The minimum value, index points, was reached in while the maximum of index points was recorded in .

Bahamas BS: BoP: Current Account: Primary Income: Investment Income: Others: Interest: Memorandum Items: Interest Before FISIM: Credit data was reported at 41.452 USD mn in 2018. This records a decrease from the previous number of 47.933 USD mn for 2017. Bahamas BS: BoP: Current Account: Primary Income: Investment Income: Others: Interest: Memorandum Items: Interest Before FISIM: Credit data is updated yearly, averaging 55.416 USD mn from Dec 1976 (Median) to 2018, with 43 observations. The data reached an all-time high of 392.800 USD mn in 1999 and a record low of 4.000 USD mn in 1977. Bahamas BS: BoP: Current Account: Primary Income: Investment Income: Others: Interest: Memorandum Items: Interest Before FISIM: Credit data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Bahamas – Table BS.IMF.BOP: BPM6: Balance of Payments: Detailed Presentation: Annual.

Bahamas BS: Imports: High-Income Economies: % of Total Goods Imports data was reported at 93.545 % in 2023. This records a decrease from the previous number of 93.909 % for 2022. Bahamas BS: Imports: High-Income Economies: % of Total Goods Imports data is updated yearly, averaging 93.976 % from Dec 1962 (Median) to 2023, with 60 observations. The data reached an all-time high of 98.854 % in 2006 and a record low of 38.204 % in 1985. Bahamas BS: Imports: High-Income Economies: % of Total Goods Imports data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Bahamas – Table BS.World Bank.WDI: Imports. Merchandise imports from high-income economies are the sum of merchandise imports by the reporting economy from high-income economies according to the World Bank classification of economies. Data are expressed as a percentage of total merchandise imports by the economy. Data are computed only if at least half of the economies in the partner country group had non-missing data.;World Bank staff estimates based data from International Monetary Fund's Direction of Trade database.;Weighted average;

In 2023, Puerto Rico and The Bahamas were the states with the highest gross domestic product (GDP) per capita in Latin America and the Caribbean. The average GDP generated per person in the Bahamas amounted to 34,749 U.S. dollars, whereas the average wealth created per capita in Puerto Rico was estimated at around 34,749 U.S. dollars. In that same year, this region's lowest GDP per capita was that of Haiti, at less than 1,693 U.S. dollars per person per year. The largest economies in Latin America GDP is the total value of all goods and services produced in a country in a year. It is an important indicator to measure the economic strength of a country and the average wealth of its population. By far, the two largest economies in the region are Brazil and Mexico, both registering GDPs three times bigger than the third place, Argentina. Nonetheless, they are the two most populated countries by a great margin.
Key economic indicators of Latin America Latin America emerges as an important region in the world economy, as of 2023, around 7.3 percent of the global GDP, a similar share to the Middle East. Nevertheless, the economic development of most of its countries has been heavily affected by other factors, such as corruption, inequality, inflation, or crime and violence. Countries such as Venezuela, Suriname, and Argentina are constantly ranking among the highest inflation rates in the world. While Jamaica, Ecuador, and Haiti rank as some of the most crime-ridden states.

Bahamas BS: GDP: Growth: GNI per Capita data was reported at 3.612 % in 2023. This records a decrease from the previous number of 11.030 % for 2022. Bahamas BS: GDP: Growth: GNI per Capita data is updated yearly, averaging -0.091 % from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 17.281 % in 1995 and a record low of -21.992 % in 2020. Bahamas BS: GDP: Growth: GNI per Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Bahamas – Table BS.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Annual percentage growth rate of GNI per capita based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GNI per capita is gross national income divided by midyear population. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad.;World Bank national accounts data, and OECD National Accounts data files.;Weighted average;

Bahamas BS: BoP: Current Account: Primary Income: Investment Income: Others data was reported at -247.339 USD mn in 2023. This records a decrease from the previous number of -171.170 USD mn for 2022. Bahamas BS: BoP: Current Account: Primary Income: Investment Income: Others data is updated yearly, averaging -137.400 USD mn from Dec 1976 (Median) to 2023, with 48 observations. The data reached an all-time high of -58.000 USD mn in 1992 and a record low of -653.330 USD mn in 2018. Bahamas BS: BoP: Current Account: Primary Income: Investment Income: Others data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Bahamas – Table BS.IMF.BOP: BPM6: Balance of Payments: Detailed Presentation: Annual.

Bahamas BS: GDP: USD: Net Income from Abroad data was reported at -597.510 USD mn in 2023. This records an increase from the previous number of -753.030 USD mn for 2022. Bahamas BS: GDP: USD: Net Income from Abroad data is updated yearly, averaging -152.310 USD mn from Dec 1960 (Median) to 2023, with 58 observations. The data reached an all-time high of 812.276 USD mn in 1996 and a record low of -835.100 USD mn in 2018. Bahamas BS: GDP: USD: Net Income from Abroad data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Bahamas – Table BS.World Bank.WDI: Gross Domestic Product: Nominal. Net primary income includes the net labor income and net property and entrepreneurial income components of the SNA. Labor income covers compensation of employees paid to nonresident workers. Property and entrepreneurial income covers investment income from the ownership of foreign financial claims (interest, dividends, rent, etc.) and nonfinancial property income (patents, copyrights, etc.). Data are in current U.S. dollars.;World Bank national accounts data, and OECD National Accounts data files.;;

Bahamas BS: BoP: Current Account: Primary Income: Investment Income: Others: Interest: Credit data was reported at 51.327 USD mn in 2023. This records an increase from the previous number of 12.220 USD mn for 2022. Bahamas BS: BoP: Current Account: Primary Income: Investment Income: Others: Interest: Credit data is updated yearly, averaging 50.511 USD mn from Dec 1976 (Median) to 2023, with 48 observations. The data reached an all-time high of 392.800 USD mn in 1999 and a record low of 4.000 USD mn in 1977. Bahamas BS: BoP: Current Account: Primary Income: Investment Income: Others: Interest: Credit data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Bahamas – Table BS.IMF.BOP: BPM6: Balance of Payments: Detailed Presentation: Annual.

Bahamas BS: GDP: USD: Gross National Income data was reported at 13.741 USD bn in 2023. This records an increase from the previous number of 12.383 USD bn for 2022. Bahamas BS: GDP: USD: Gross National Income data is updated yearly, averaging 2.978 USD bn from Dec 1960 (Median) to 2023, with 64 observations. The data reached an all-time high of 13.741 USD bn in 2023 and a record low of 149.548 USD mn in 1960. Bahamas BS: GDP: USD: Gross National Income data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Bahamas – Table BS.World Bank.WDI: Gross Domestic Product: Nominal. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. Data are in current U.S. dollars.;World Bank national accounts data, and OECD National Accounts data files.;Gap-filled total;

Bahamas BS: Exports: High-Income Economies: % of Total Goods Exports data was reported at 52.119 % in 2023. This records an increase from the previous number of 42.974 % for 2022. Bahamas BS: Exports: High-Income Economies: % of Total Goods Exports data is updated yearly, averaging 97.222 % from Dec 1962 (Median) to 2023, with 62 observations. The data reached an all-time high of 100.000 % in 1963 and a record low of 26.841 % in 2014. Bahamas BS: Exports: High-Income Economies: % of Total Goods Exports data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Bahamas – Table BS.World Bank.WDI: Exports. Merchandise exports to high-income economies are the sum of merchandise exports from the reporting economy to high-income economies according to the World Bank classification of economies. Data are expressed as a percentage of total merchandise exports by the economy. Data are computed only if at least half of the economies in the partner country group had non-missing data.;World Bank staff estimates based data from International Monetary Fund's Direction of Trade database.;Weighted average;

In 2019, insurance premiums amounted to 1,963 U.S. dollars per capita in the Bahamas. Insurance density is used as an indicator for the development of insurance within a country and is calculated as ratio of total insurance premiums to whole population of a given country.

Insurance density in selected emerging countries

The insurance industry is an industry that has the ability to make significant financial contributions to a national economy. It contributes to the formation of national income by creating value added through the provision of indemnity and in its role as an institutional investor. As a country develops and its gross domestic product rises, the demand for insurance increases significantly as the macro-economic focus begins to shift or deviate from its earlier incarnation. A result of this sort of change, especially in a developing country, is often a rise in the level of disposable income. As income increases so does the rate of consumption and the level of affluence, this can have a direct effect on population development, density and urbanization, this, in turn, has inevitable sociocultural repercussions and an increased sense of risk aversion.

The future of the Bahamian insurance sector

Some economists make the case for the interrelation of insurance sector growth and economic development: economic growth leads to a rise in the demand for insurance; the growth of the insurance industry induces economic growth. The GDP in the Bahamas is forecast to continue its climb until at least 2024. The population is also set to grow over the next few years.

Bahamas BS: Imports: Low- and Middle-Income Economies: % of Total Goods Imports: Outside Region data was reported at 3.858 % in 2023. This records an increase from the previous number of 3.829 % for 2022. Bahamas BS: Imports: Low- and Middle-Income Economies: % of Total Goods Imports: Outside Region data is updated yearly, averaging 2.342 % from Dec 1962 (Median) to 2023, with 60 observations. The data reached an all-time high of 54.408 % in 1973 and a record low of 0.052 % in 2009. Bahamas BS: Imports: Low- and Middle-Income Economies: % of Total Goods Imports: Outside Region data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Bahamas – Table BS.World Bank.WDI: Imports. Merchandise imports from low- and middle-income economies outside region are the sum of merchandise imports by the reporting economy from other low- and middle-income economies in other World Bank regions according to the World Bank classification of economies. Data are expressed as a percentage of total merchandise imports by the economy. Data are computed only if at least half of the economies in the partner country group had non-missing data.;World Bank staff estimates based data from International Monetary Fund's Direction of Trade database.;Weighted average;

Bahamas BS: BOP: Current Account: Secondary Income: Receipts data was reported at 321.017 USD mn in 2023. This records an increase from the previous number of 282.034 USD mn for 2022. Bahamas BS: BOP: Current Account: Secondary Income: Receipts data is updated yearly, averaging 57.584 USD mn from Dec 1976 (Median) to 2023, with 48 observations. The data reached an all-time high of 582.266 USD mn in 2016 and a record low of 7.200 USD mn in 1977. Bahamas BS: BOP: Current Account: Secondary Income: Receipts data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Bahamas – Table BS.World Bank.WDI: Balance of Payments: Current Account. Secondary income refers to transfers recorded in the balance of payments whenever an economy provides or receives goods, services, income, or financial items without a quid pro quo. All transfers not considered to be capital are current. Data are in current U.S. dollars.;International Monetary Fund, Balance of Payments Statistics Yearbook and data files.;Sum;Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards.