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CFAL Local Economic Update | Q1 2019

16 May, 2019

The Bahamian economy grew by just 1.60% in 2018 compared to the 2.50% growth predicted by the International Monetary Fund (IMF) and 2.20% forecasted by the Government of the Bahamas. According to the Department of Statistics, real GDP stood at $10.763 billion at the end of 2018, with output driven by the foreign currency real estate sector, wholesale and retail trade industries, financial and insurance segments, along with accommodation and food service industries. It is expected that real GDP for 2017 will be revised downward given the recently reported 2018 GDP was only about 0.19% higher than the $10.742 billion reported in the previous year. Average economic growth over the past six years was relatively flat at 0.30%, a convincing indication of the fragile state of the Bahamian economy.