Bahamas, The's external balance on goods and services (current LCU) was -581.9 million in 2024, the latest year in the World Bank's World Development Indicators. That is up 10.1% from -647.3 million in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | -581.9 million | 2024 |
| Five years earlier | 156 million | 2019 |
| Ten years earlier | -647.3 million | 2014 |
| Highest | 235 million | 2015 |
| Lowest | -1.36 billion | 2011 |
| Average since 2015 | -347.72 million | 2015–2024 |
| First recorded | 117.7 million |
What the numbers say
In 2024, Bahamas, The's external balance on goods and services (current LCU) fell 440.4 million on 2023 (from -141.5 million to -581.9 million).
Across the 30 yearly changes before that (1994 to 2023), the average change was −5.31 million and a typical year strayed about 428.77 million from that (the standard deviation). This year's change was 1.0 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.
On record, the biggest yearly rise was 971.1 million in 2022 and the biggest yearly fall was 868.3 million in 2020. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 there is no clear straight-line trend: a straight line explains 15% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, Bahamas, The had the 17th highest value of the 34 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to Bahamas, The in the 2024 ranking
What this measures
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.
All 47 values
| Year | External balance on goods and services (current LCU) |
|---|---|
| 2024 | -581,900,000 |
| 2023 | -141,500,000 |
| 2022 | -231,400,000 |
| 2021 | -1,202,500,000 |
| 2020 | -712,300,000 |
| 2019 | 156,000,000 |
| 2018 | -211,600,000 |
| 2017 | -607,700,000 |
| 2016 | -179,300,000 |
| 2015 | 235,000,000 |
External balance on goods and services (current LCU) in nearby economies
More economic policy & debt data for Bahamas, The
- GDP (current US$) — US$15.83 billion (2024)
- GDP (current LCU) — 15.83 billion (2024)
- GDP (constant 2015 US$) — US$13.63 billion (2024)
- GDP (constant LCU) — 14.11 billion (2024)
- GDP per capita (current US$) — US$39,455 (2024)
- GDP per capita (current LCU) — 39,455 (2024)
- GDP per capita (constant 2015 US$) — US$33,968 (2024)
- GDP per capita (constant LCU) — 35,159 (2024)
- GNI (current US$) — US$15.2 billion (2024)
- GNI (current LCU) — 15.2 billion (2024)
- GNI per capita (current LCU)
Reading data like this
Questions people ask
- What is Bahamas, The's external balance on goods and services (current LCU)?
- -581.9 million in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1977?
- It is down 594.39% from 117.7 million in 1977. The highest value was 235 million in 2015 and the lowest -1.36 billion in 2011.
- How does Bahamas, The rank?
- 17th highest of 34 economies with data for 2024.
- Is the latest change in external balance on goods and services (current LCU) unusual for Bahamas, The?
- In 2024, Bahamas, The's external balance on goods and services (current LCU) fell 440.4 million on 2023 (from -141.5 million to -581.9 million). Across the 30 yearly changes before that (1994 to 2023), the average change was −5.31 million and a typical year strayed about 428.77 million from that (the standard deviation). This year's change was 1.0 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.
Source
World Bank, World Development Indicators, indicator NE.RSB.GNFS.CN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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