NASSAU, BAHAMAS — New Providence, Abaco, along with Bimini and the Berry Islands are among the islands which have seen significant recovery between 2020 and 2021, according to data by the Bahamas National Statistical Institute.
According to the institute’s advanced estimates of gross domestic product by major family islands and island groups, among those islands showing significant recovery between 2021 and 2020, are New Providence, Abaco and Bimini & Berry islands, registering growth of $1,241 million (17.3 percent), $124 million (55.8 percent) and $93 million (187.1 percent), respectively.
“Most major islands and island groups did not regain the same level of GDP as attained in 2019,” the Institute stated, noting that there were however some exceptions such as Long Island whose GDP was $95.2 million in 2021 compared to $80.8 million in 2019, representing a 17.9 percent increase.
Andros’ GDP also saw a slight increase during the period, from $95.4 million in 2019 to $95.7 million in 2021. The Institute also noted that during the 2020 Pandemic year when most major islands and island groups saw a significant decline compared to 2019 islands like Andros increased by $3.1 million, and the island group of Mayaguana, Acklins, Crooked Island and Inagua increased by $6.6 million, led by the mining and quarrying, manufacturing, electricity and gas, water supply and sewerage and construction industry grouping.
In 2021, the total value of goods and services produced in the Bahamian economy was estimated at $11.209 billion in nominal prices.
According to the 2021 annual estimates, economic activity in The Bahamas recovered significantly by 15.6 percent in nominal terms, as the business activity began to show signs of recovery from the adverse effects of the COVID-19 pandemic.
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