Bahamas, The: Services, value added per worker (constant 2015 US$)

Key figures

What the numbers say

In 2024, Bahamas, The's services, value added per worker (constant 2015 US$) rose US$879.45 on 2023 (from US$55,135 to US$56,014).

Across the 30 yearly changes before that (1994 to 2023), the average change was −US$462.02 and a typical year strayed about US$3,518 from that (the standard deviation). This year's change was 0.4 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was US$6,441 in 1999 and the biggest yearly fall was US$14,276 in 1997. 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 7th highest value of the 19 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

• New Zealand — 3rd of 19: US$69,924
• Japan — 4th of 19: US$67,154
• United Arab Emirates — 5th of 19: US$57,148
• Barbados — 7th of 19: US$41,661
• Türkiye — 8th of 19: US$39,944
• Trinidad and Tobago — 9th of 19: US$31,145

What this measures

Services industries correspond to ISIC (Rev. 4) divisions 45-99 and includes wholesale and retail trade, repair of motor vehicles, hotels and restaurants, transport, storage and communication, financial intermediation, real estate, renting and business activities, public administration and defence, compulsory social security, education, health and social work, other community, social and personal service activities, private households with employed persons, and extra-territorial organizations and bodies. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. The core indicator has been divided by the number of workers in the economy to derive a measure of labor productivity. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2015. This indicator is expressed in United States dollars.

Limitations: For comparability of individual sectors labor productivity is estimated according to national accounts conventions. However, there are still significant limitations on the availability of reliable data. Information on consistent series of output is not easily available, especially in low- and middle-income countries, because the definition, coverage, and methodology are not always consistent across countries. For more details, see Agriculture, forestry, and fishing, value added (constant 2015 US$) [NV.AGR.TOTL.KD], Industry (including construction), value added (constant 2015 US$) [NV.IND.TOTL.KD], and Services, value added (constant 2015 US$) [NV.SRV.TOTL.KD].

Regional and income-group figures are computed by the World Bank as a weighted average.

All 34 values

Services, value added per worker (constant 2015 US$) in nearby economies

• Argentina — US$23,294 (2025)
• Barbados — US$41,661 (2024)
• Belize — US$14,744 (2025)
• Bolivia — US$5,100 (2024)
• Brazil — US$17,819 (2025)
• Chile — US$27,344 (2025)
• Colombia — US$14,167 (2025)
• Costa Rica — US$34,242 (2025)
• Cuba — US$19,918 (2024)
• Dominican Republic

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

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Questions people ask

What is Bahamas, The's services, value added per worker (constant 2015 US$)?

US$56,014 in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1991?

It is down 20.49% from US$70,452 in 1991 (0.69% a year on average, compounded). The highest value was US$72,821 in 1992 and the lowest US$49,536 in 2020.

How does Bahamas, The rank?

7th highest of 19 economies with data for 2024.

Is the latest change in services, value added per worker (constant 2015 US$) unusual for Bahamas, The?

In 2024, Bahamas, The's services, value added per worker (constant 2015 US$) rose US$879.45 on 2023 (from US$55,135 to US$56,014). Across the 30 yearly changes before that (1994 to 2023), the average change was −US$462.02 and a typical year strayed about US$3,518 from that (the standard deviation). This year's change was 0.4 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator NV.SRV.EMPL.KD, licensed CC BY 4.0. Original source: World Development Indicators database, World Bank (WB); ILOSTAT database, International Labour Organization (ILO) 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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