Bahamas, The | Total reserves (includes gold, current US$)

Total reserves comprise holdings of monetary gold, special drawing rights, reserves of IMF members held by the IMF, and holdings of foreign exchange under the control of monetary authorities. The gold component of these reserves is valued at year-end (December 31) London prices. Data are in current U.S. dollars. Development relevance: The balance of payments records an economy’s transactions with the rest of the world. Balance of payments accounts are divided into two groups: the current account, which records transactions in goods, services, primary income, and secondary income, and the capital and financial account, which records capital transfers, acquisition or disposal of nonproduced, nonfinancial assets, and transactions in financial assets and liabilities. The current account balance is one of the most analytically useful indicators of an external imbalance. A primary purpose of the balance of payments accounts is to indicate the need to adjust an external imbalance. Where to draw the line for analytical purposes requires a judgment concerning the imbalance that best indicates the need for adjustment. There are a number of definitions in common use for this and related analytical purposes. The trade balance is the difference between exports and imports of goods. From an analytical view it is arbitrary to distinguish goods from services. For example, a unit of foreign exchange earned by a freight company strengthens the balance of payments to the same extent as the foreign exchange earned by a goods exporter. Even so, the trade balance is useful because it is often the most timely indicator of trends in the current account balance. Customs authorities are typically able to provide data on trade in goods long before data on trade in services are available. Limitations and exceptions: Discrepancies may arise in the balance of payments because there is no single source for balance of payments data and therefore no way to ensure that the data are fully consistent. Sources include customs data, monetary accounts of the banking system, external debt records, information provided by enterprises, surveys to estimate service transactions, and foreign exchange records. Differences in collection methods - such as in timing, definitions of residence and ownership, and the exchange rate used to value transactions - contribute to net errors and omissions. In addition, smuggling and other illegal or quasi-legal transactions may be unrecorded or misrecorded. Statistical concept and methodology: The balance of payments (BoP) is a double-entry accounting system that shows all flows of goods and services into and out of an economy; all transfers that are the counterpart of real resources or financial claims provided to or by the rest of the world without a quid pro quo, such as donations and grants; and all changes in residents' claims on and liabilities to nonresidents that arise from economic transactions. All transactions are recorded twice - once as a credit and once as a debit. In principle the net balance should be zero, but in practice the accounts often do not balance, requiring inclusion of a balancing item, net errors and omissions.
Publisher
The World Bank
Origin
Commonwealth of The Bahamas
Records
63
Source
Bahamas, The | Total reserves (includes gold, current US$)
1960
1961
1962
1963
1964
1965
1966
1967
1968 44400000
1969 26070000
1970 21680000
1971 29500000
1972 37060000
1973 43150000
1974 49791749.35859
1975 53283293.069529
1976 47419157.56272
1977 68502133.002373
1978 61011359.637196
1979 86298283.625197
1980 92269277.880225
1981 100205503.19483
1982 113488532.44093
1983 121973941.27893
1984 161141024.7222
1985 182475237.25835
1986 231498467.82381
1987 170115271.74453
1988 172036083.48697
1989 146838360.44892
1990 158165375.36811
1991 181313537.59888
1992 155332535.37201
1993 172283366.87449
1994 176619981.95628
1995 179199375.08176
1996 171391392.40069
1997 227046333.54561
1998 346518164.92189
1999 410499712.19793
2000 349644583.1607
2001 319252843.72816
2002 380645829.41791
2003 491108558.1631
2004 674401942.81206
2005 586297936.22617
2006 461331327.06299
2007 464482895.39389
2008 567909087.74454
2009 1009823819.8034
2010 1044153800.4977
2011 1070217424.653
2012 846941347.75579
2013 807408405.00746
2014 874337064.77897
2015 895475136.25196
2016 1001933945.1835
2017 1413972940.8557
2018 1345344674.1445
2019 1757782753.5003
2020 2382077961.0119
2021 2432716261.3797
2022 2609421074.7974

Bahamas, The | Total reserves (includes gold, current US$)

Total reserves comprise holdings of monetary gold, special drawing rights, reserves of IMF members held by the IMF, and holdings of foreign exchange under the control of monetary authorities. The gold component of these reserves is valued at year-end (December 31) London prices. Data are in current U.S. dollars. Development relevance: The balance of payments records an economy’s transactions with the rest of the world. Balance of payments accounts are divided into two groups: the current account, which records transactions in goods, services, primary income, and secondary income, and the capital and financial account, which records capital transfers, acquisition or disposal of nonproduced, nonfinancial assets, and transactions in financial assets and liabilities. The current account balance is one of the most analytically useful indicators of an external imbalance. A primary purpose of the balance of payments accounts is to indicate the need to adjust an external imbalance. Where to draw the line for analytical purposes requires a judgment concerning the imbalance that best indicates the need for adjustment. There are a number of definitions in common use for this and related analytical purposes. The trade balance is the difference between exports and imports of goods. From an analytical view it is arbitrary to distinguish goods from services. For example, a unit of foreign exchange earned by a freight company strengthens the balance of payments to the same extent as the foreign exchange earned by a goods exporter. Even so, the trade balance is useful because it is often the most timely indicator of trends in the current account balance. Customs authorities are typically able to provide data on trade in goods long before data on trade in services are available. Limitations and exceptions: Discrepancies may arise in the balance of payments because there is no single source for balance of payments data and therefore no way to ensure that the data are fully consistent. Sources include customs data, monetary accounts of the banking system, external debt records, information provided by enterprises, surveys to estimate service transactions, and foreign exchange records. Differences in collection methods - such as in timing, definitions of residence and ownership, and the exchange rate used to value transactions - contribute to net errors and omissions. In addition, smuggling and other illegal or quasi-legal transactions may be unrecorded or misrecorded. Statistical concept and methodology: The balance of payments (BoP) is a double-entry accounting system that shows all flows of goods and services into and out of an economy; all transfers that are the counterpart of real resources or financial claims provided to or by the rest of the world without a quid pro quo, such as donations and grants; and all changes in residents' claims on and liabilities to nonresidents that arise from economic transactions. All transactions are recorded twice - once as a credit and once as a debit. In principle the net balance should be zero, but in practice the accounts often do not balance, requiring inclusion of a balancing item, net errors and omissions.
Publisher
The World Bank
Origin
Commonwealth of The Bahamas
Records
63
Source