The US Central Intelligence Agency (CIA) reports that in 2001 the Bahamas' gross domestic product (GDP) was estimated at $5 billion. The per capita GDP was estimated at $16,800. The annual growth rate of GDP was estimated at 3.5%. The average inflation rate in 2001 was 1.5%. The CIA defines GDP as the value of all final goods and services produced within a nation in a given year and computed on the basis of purchasing power parity (PPP) rather than value as measured on the basis of the rate of exchange. It was estimated that agriculture accounted for 3% of GDP, industry 7%, and services 90%.
Foreign aid receipts amounted to about $27 per capita. Approximately 32% of household consumption was spent on food, 5% on fuel, 3% on health care, and 8% on education. Household consumption includes expenditures of individuals, households, and nongovernmental organizations on goods and services, excluding purchases of dwellings.