Taxes on goods and services in Bahamas
Bahamas: Taxes on goods and services was 13.1% in 2024. ◆ Volatile
Taxes on goods and services in Bahamas, 1992–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % value added of industry and services.
Analysis
Bahamas recorded 13.1% for taxes on goods and services in 2024.
The figure is up 8.5% on the previous year and up 112.5% over ten years.
Over the whole period, taxes on goods and services in Bahamas peaked at 14.7% in 2020 and was at its lowest, 0.6%, in 1993.
Bahamas ranks 47th of 154 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Taxes on goods and services in Bahamas, year by year
| Year | % value added of industry and services | Change |
|---|---|---|
| 1992 | 1.0% | — |
| 1993 | 0.6% | -42.6% |
| 1994 | 1.1% | +98.1% |
| 1995 | 2.1% | +80.4% |
| 1996 | 1.2% | -41.0% |
| 1997 | 0.7% | -40.6% |
| 1998 | 0.8% | +14.0% |
| 1999 | 0.7% | -19.0% |
| 2000 | 1.6% | +146.6% |
| 2001 | 1.2% | -25.1% |
| 2002 | 1.3% | +2.1% |
| 2003 | 1.1% | -16.1% |
| 2004 | 1.4% | +32.5% |
| 2005 | 2.0% | +41.2% |
| 2006 | 3.6% | +84.1% |
| 2007 | 4.0% | +10.5% |
| 2008 | 1.6% | -59.0% |
| 2009 | 4.1% | +146.6% |
| 2010 | 5.5% | +36.1% |
| 2011 | 7.4% | +33.9% |
| 2012 | 6.9% | -6.6% |
| 2013 | 5.9% | -15.1% |
| 2014 | 6.2% | +5.2% |
| 2015 | 8.7% | +40.4% |
| 2016 | 10.8% | +25.2% |
| 2017 | 11.7% | +8.1% |
| 2018 | 11.4% | -2.8% |
| 2019 | 14.1% | +23.8% |
| 2020 | 14.7% | +4.1% |
| 2021 | 10.9% | -25.8% |
| 2022 | 11.9% | +9.6% |
| 2023 | 12.1% | +1.3% |
| 2024 | 13.1% | +8.5% |
Bahamas compared with similar countries
- Bahamas's 13.1% is above the median for high income countries, which is 11.7%, 1.1× the median. (55 countries reporting)
- Bahamas's 13.1% is above the median for Latin America & Caribbean, which is 9.1%, 1.4× the median. (25 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 1.0% | 0.6% | 2.1% | 8 |
| 2000s | 2.2% | 1.1% | 4.1% | 10 |
| 2010s | 8.9% | 5.5% | 14.1% | 10 |
| 2020s | 12.5% | 10.9% | 14.7% | 5 |
Countries ranked near Bahamas
More public sector data for Bahamas
- Arms imports 12.00 million SIPRI trend indicator values (2017)
- Arms imports (SIPRI trend indicator values), per capita 30.73 SIPRI trend indicator values per person (2017)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.001 SIPRI trend indicator values per US$ of GDP (2017)
- Arms imports (SIPRI trend indicator values), gaps filled 12.00 million SIPRI trend indicator values (2017)
- Arms imports (SIPRI trend indicator values), per square kilometre 1,199 SIPRI trend indicator values per square kilometre (2017)
- Tax revenue 17.3% (2024)
- Capital stock, General government, Current prices, Domestic currency 2.72 (2019)
- Capital stock, General government, Constant prices, Percent of GDP 24.77 (2019)
- Capital stock, General government, Constant prices, Purchasing power 3.16 (2019)
- Taxes on goods and services 58.7% (2024)
Frequently asked questions
- What is taxes on goods and services in Bahamas?
- Taxes on goods and services in Bahamas was 13.1% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on goods and services recorded in Bahamas?
- The highest recorded value was 14.7% in 2020.
- What is the lowest taxes on goods and services recorded in Bahamas?
- The lowest recorded value was 0.6% in 1993.
- How does Bahamas rank for taxes on goods and services?
- Bahamas ranks 47th out of 154 countries with data for 2024.
- Is taxes on goods and services rising or falling in Bahamas?
- Over the last ten years it is up 112.5%. The long-run trend across the full record is volatile.
- Where does this Bahamas data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Taxes on goods and services (% value added of industry and services). Statizoid updates them automatically from the source API.
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About this data
General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. This indicator is expressed as a percentage of value added in industry and services which is the contribution to the economy by industries in ISIC (Rev. 3) divisions 05-43 and 50-99.