Although the Bahamas remains an import-oriented economy, income from tourism and financial services is a vital offsetting factor in the country's balance-of-payments position.
The US Central Intelligence Agency (CIA) reports that in 2000 the purchasing power parity of The Bahamas's exports was $535.8 million while imports totaled $1.88 billion resulting in a trade deficit of $1.3442 billion.
The International Monetary Fund (IMF) reports that in 2001 The Bahamas had exports of goods totaling $614 million and imports totaling $1.77 billion. The services credit totaled $1.89 billion and debit $939 million. The following table summarizes The Bahamas's balance of payments as reported by the IMF for 2001 in millions of US dollars.
Current Account | -348 |
Balance on goods | -1,151 |
Balance on services | 951 |
Balance on income | -190 |
Current transfers | 42 |
Capital Account | -20 |
Financial Account | 280 |
Direct investment abroad | … |
Direct investment in The Bahamas | 101 |
Portfolio investment assets | … |
Portfolio investment liabilities | … |
Other investment assets | -25,412 |
Other investment liabilities | 25,591 |
Net Errors and Omissions | 59 |
Reserves and Related Items | 30 |
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