Exporting to The Bahamas

The Bahamas is located within the Lucayan Archipelago in the West Indies, and is near Florida, Cuba, the Dominican Republic and Turks and Caicos, which is also part of the Lucayan Archipelago. In the year ended June 2019, the total UK exports to The Bahamas amounted to £162 million (IMF, 2019).

Growing export market

The Bahamas are expected to have import growth of 8.9% in 2019, with 9.6% expected the year after (IMF, 2019). UK businesses looking to export could benefit from the growing demand for imports in the region.

Demand for goods and services

In the year to June 2019, the top goods exported from the UK to The Bahamas were works of art, manufactures, medicinal and pharmaceutical products and cereals (ONS, 2019). In terms of services, the top services imported by The Bahamas from the world were transport, travel, insurance and pension services, government goods and services and construction (ITC Trade Map, 2019). Therefore, if you operate in one of these industries, then The Bahamas could be a good market for you.

Ease of doing business

118th

out of 190 countries (World Bank, 2018)

Currency

Eastern Caribbean Dollar

Business language

English

GDP per capita

$32,997

UK is $42,558 (IMF, 2018)

Economic growth

1.6%

(IMF, 2018)

Time zone

GMT -5

Next steps

DIT can advise you on doing business abroad, and help put you in touch with other people who can help such as lawyers and distributors.