FAQs

General Macroeconomic Indicators

How has The Bahamas' GDP changed over the past few years?

In the information that follows, real economic growth is measured according to changes in Real GDP. Note that growth rates from 1996 to 2006 are taken from the Department of Statistics National Accounts Report 2006, whereas 2007 and 2008 figures are projected from the IMF World Economic Outlook for April 2007 (Table 6).

Year Real GDP
1996 4.20%
1997 5.00%
1998 6.80%
1999 4.00%
2000 1.90%
2001 0.80%
2002 2.3%
2003 1.00%
2004 1.30%
2005 2.50%
2006 3.40%
2007 4.50%
2008 4.00%


  1. What is the Gross Domestic Product (GDP)?
  2. How has The Bahamas' GDP changed over the past few years?
  3. How important is the contribution of the banking sector to the overall Bahamian economy?
  4. What do we mean by the cost of living?
  5. What is the current rate of inflation?


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