GDP in the Bahamas over the last 10 years

The Gross Domestic Product is one of the factors that influence the economic environment or economy of any nation or region. The Gross Domestic Product is the measure in terms of monetary value in the market for all the total final goods and services that are produced within a region or country over a provided period of time. It means that the total value of all the goods and services produced by a country within a certain period and mostly on annual basis is what entails the gross domestic product. It is necessary is trying to weigh out the potential and capability of a nation towards being able to generate income or what is the reflection of the economic environment for the whole nation.

Bahamas country has been provided to be a case study provided by the shifts within its GDP growth. Fr example, the increase of the GDP by 2. 7 percent in 2017 provided for an opened up gap that would need t to be met the following year through production. With increased GDP, the aspect of trade means a more provided activity to trade as the demand for the products by the other nations is high and consistent, (Rusell, 2018). Therefore provided by the application of capacity and ability to produce goods over a certain period makes it relevant towards the Bahamians conducting trade with other nations especially that now the products are in plenty and continue to flow within the market prospects. Employment rate: It is usually the figures of human labor compared to the available opportunities for the population to exercise and offer their skills towards production.

National income: The generation of government income is always reliant on the projects and the contribution the citizens make towards the same government. Government earns its revenue within the measures of tax paid to it by the citizens through different activities. The reflection by the GDP levels within Bahamas country project to have an overall rise and increase in the period of last ten years. Such an indication means that there is positive work getting done by the population within which it has sustained a growth rate of 0. 5% on average for all those years, (Schmid, et. Economic growth: The prospect of economic growth entails a deeper understanding and deliberation on the matter. Economic growth is the rise of the economic activities within a region provided by the existence of a good environment, and that is favorable towards the undertaking of these activities.

Economic growth is always associated with the GDP levels since it measures activities through which monetary values get generated. According to statistics released, it has gotten provided that for the last ten years trading activities in the Bahamas seem to have risen and continue to exercise more opened up markets through which economic investment is viable. The increased GDP levels have fostered the provision of exports and imports amounting to 84% of GDP, (The Bahamas). al. All these factors have summed up to bring light towards the initiative of the population having an improvement in their lifestyle. The dropping rates of unemployment, the infrastructural developments within the Bahamas region as well as economic growth seem to have a positive impact n the lifestyle of the people with opportunities for economic independence getting swayed across.

With its offshore financial services to the United States, there has been inducted investments within the island and making it a more prevalent environment; where these investments can happen with an overall goal of helping raise the livelihood of the population through education and employment, (Karagiannis, et. al. Technology: Technological development seems to be the talk of the modern society with various sectors focusing their attention towards new ways and provision for operations of industries under these measures. Technology provides for the faster and improved ways of doing things using machines or even applications. Technology development and the economic activities of any region or nation ought to have alignment on one side. Through technology, there gets fastened ways of doing and transacting businesses as well as having efficiency in the whole process.

The GDP levels in Bahamas can have a relation to the inducted technological changes. An estimation of 60% of the total GDP gets focused from the tourism and manufacturing industry and which shows the extent to which the Bahamas nation has relied on the tourism industry. The growth of the GDP has brought with it the over-reliance on the tourism industry with the view that the tourism industry controls and measures the great earnings of the country. With most of the tourist estimated to come for the United States just like the example of 2010 where 85% of the tourist who came to the Bahamas were from the United States, there is more of considerate state of this behavior. The over-reliance on tourism brings negative effects on the economy with prospected challenges or changes within the political, social economic or even any occurrence within the boundaries of the United States dictates the level of earnings in the Bahamas, (Karagiannis, et.

al. The impact of the GDP levels in Bahamas economy provides for both positive and negative effects. Increased production and trading, increased employment rates, national income, economic growth, improved living standards of the people, development of tourism industry, and technological developments are all positive effects of growth GDP levels in the Bahamas. Overreliance on tourism and increased government expenditure are negative factors associated with GDP levels. The aspects of GDP levels have a direct influence on the economic activities within the Bahamian nation. Looking closely at the prospects, it is clear that in the past decade the increased GDP levels seem to favor economic activities within Bahamian nation and there is need to have such factors encouraged for the general growth of the economy.