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Guide to Bahamas

Introduction , The

Background: Arawak Indians inhabited the islands when Christopher Columbus first set foot in the New World on San Salvador in 1492. British settlement of the islands began in 1647; the islands became a colony in 1783. Since attaining independence from the UK in 1973, The Bahamas have prospered through tourism and international banking and investment management. Because of its geography, the country is a major transshipment point for illegal drugs, particularly shipments to the US, and its territory is used for smuggling illegal migrants into the US.

Geography , The

Location: Caribbean, chain of islands in the North Atlantic Ocean, southeast of Florida, northeast of Cuba
Geographic coordinates: 24 15 N, 76 00 W
Map references: Central America and the Caribbean
Area: total
Area - comparative: slightly smaller than Connecticut
Land boundaries: 0 km
Coastline: 3,542 km
Maritime claims: territorial sea
Climate: tropical marine; moderated by warm waters of Gulf Stream
Terrain: long, flat coral formations with some low rounded hills
Elevation extremes: lowest point
Natural resources: salt, aragonite, timber, arable land
Land use: arable land
Irrigated land: NA
Natural hazards: hurricanes and other tropical storms cause extensive flood and wind damage
Environment - current issues: coral reef decay; solid waste disposal
Environment - international agreements: party to
Geography - note: strategic location adjacent to US and Cuba; extensive island chain of which 30 are inhabited

People , The

Population: 301,790 note
Age structure: 0-14 years
Median age: total
Population growth rate: 0.67% (2005 est.)
Birth rate: 17.87 births/1,000 population (2005 est.)
Death rate: 8.97 deaths/1,000 population (2005 est.)
Net migration rate: -2.18 migrant(s)/1,000 population (2005 est.)
Sex ratio: at birth
Infant mortality rate: total
Life expectancy at birth: total population
Total fertility rate: 2.2 children born/woman (2005 est.)
HIV/AIDS - adult prevalence rate: 3% (2003 est.)
HIV/AIDS - people living with HIV/AIDS: 5,600 (2003 est.)
HIV/AIDS - deaths: less than 200 (2003 est.)
Nationality: noun
Ethnic groups: black 85%, white 12%, Asian and Hispanic 3%
Religions: Baptist 35.4%, Anglican 15.1%, Roman Catholic 13.5%, Pentecostal 8.1%, Church of God 4.8%, Methodist 4.2%, other Christian 15.2%, none or unspecified 2.9%, other 0.8% (2000 census)
Languages: English (official), Creole (among Haitian immigrants)
Literacy: definition

Government , The

Country name: conventional long form
Government type: constitutional parliamentary democracy
Capital: Nassau
Administrative divisions: 21 districts; Acklins and Crooked Islands, Bimini, Cat Island, Exuma, Freeport, Fresh Creek, Governor's Harbour, Green Turtle Cay, Harbour Island, High Rock, Inagua, Kemps Bay, Long Island, Marsh Harbour, Mayaguana, New Providence, Nichollstown and Berry Islands, Ragged Island, Rock Sound, Sandy Point, San Salvador and Rum Cay
Independence: 10 July 1973 (from UK)
National holiday: Independence Day, 10 July (1973)
Constitution: 10 July 1973
Legal system: based on English common law
Suffrage: 18 years of age; universal
Executive branch: chief of state
Legislative branch: bicameral Parliament consists of the Senate (16-member body appointed by the governor general upon the advice of the prime minister and the opposition leader for five-year terms) and the House of Assembly (40 seats; members elected by direct popular vote to serve five-year terms); the government may dissolve the parliament and call elections at any time elections
Judicial branch: Supreme Court; Court of Appeal; magistrates courts
Political parties and leaders: Free National Movement or FNM [Tommy TURNQUEST]; Progressive Liberal Party or PLP [Perry CHRISTIE]
Political pressure groups and leaders: NA
International organization participation: ACP, C, Caricom, CDB, FAO, G-77, IADB, IBRD, ICAO, ICCt (signatory), ICFTU, ICRM, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOM, IOC, ITU, LAES, MIGA, NAM, OAS, OPANAL, OPCW (signatory), UN, UNCTAD, UNESCO, UNIDO, UPU, WCO, WHO, WIPO, WMO, WTO (observer)
Diplomatic representation in the US: chief of mission
Diplomatic representation from the US: chief of mission
Flag description: three equal horizontal bands of aquamarine (top), gold, and aquamarine, with a black equilateral triangle based on the hoist side

Economy , The

Economy - overview: The Bahamas is a stable, developing nation with an economy heavily dependent on tourism and offshore banking. Tourism alone accounts for more than 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences had led to solid GDP growth in recent years, but the slowdown in the US economy and the attacks of 11 September 2001 held back growth in these sectors in 2001-03. Financial services constitute the second-most important sector of the Bahamian economy, accounting for about 15% of GDP. However, since December 2000, when the government enacted new regulations on the financial sector, many international businesses have left The Bahamas. Manufacturing and agriculture together contribute approximately a tenth of GDP and show little growth, despite government incentives aimed at those sectors. Overall growth prospects in the short run rest heavily on the fortunes of the tourism sector, which depends on growth in the US, the source of more than 80% of the visitors. In addition to tourism and banking, the government supports the development of a "third pillar," e-commerce.
GDP (purchasing power parity): $5.295 billion (2004 est.)
GDP - real growth rate: 3% (2004 est.)
GDP - per capita: purchasing power parity - $17,700 (2004 est.)
GDP - composition by sector: agriculture
Labor force: 156,000 (1999)
Labor force - by occupation: agriculture 5%, industry 5%, tourism 50%, other services 40% (1999 est.)
Unemployment rate: 10.2% (2004 est.)
Population below poverty line: NA
Household income or consumption by percentage share: lowest 10%
Inflation rate (consumer prices): 1.2% (year ending September 2004)
Budget: revenues
Agriculture - products: citrus, vegetables; poultry
Industries: tourism, banking, cement, oil transshipment, salt, rum, aragonite, pharmaceuticals, spiral-welded steel pipe
Industrial production growth rate: NA
Electricity - production: 1.716 billion kWh (2002)
Electricity - production by source: fossil fuel
Electricity - consumption: 1.596 billion kWh (2002)
Electricity - exports: 0 kWh (2002)
Electricity - imports: 0 kWh (2002)
Oil - production: 0 bbl/day (2001 est.)
Oil - consumption: 23,000 bbl/day (2001 est.)
Oil - exports: transhipments of 29,000 bbl/day (2003)
Oil - imports: NA
Exports: $636 million (2003 est.)
Exports - commodities: mineral products and salt, animal products, rum, chemicals; fruit and vegetables
Exports - partners: US 40.2%, Poland 13.3%, Spain 11.6%, Germany 5.9%, France 4.3% (2004)
Imports: $1.63 billion (2003)
Imports - commodities: machinery and transport equipment, manufactures, chemicals, mineral fuels; food and live animals
Imports - partners: US 22.4%, South Korea 18.9%, Brazil 9.2%, Japan 7.9%, Italy 7.8%, Venezuela 6.6% (2004)
Debt - external: $308.5 million (2002)
Economic aid - recipient: $9.8 million (1995)
Currency (code): Bahamian dollar (BSD)
Currency code: BSD
Exchange rates: Bahamian dollars per US dollar - 1 (2004), 1 (2003), 1 (2002), 1 (2001), 1 (2000)
Fiscal year: 1 July - 30 June

Communications , The

Telephones - main lines in use: 131,700 (2003)
Telephones - mobile cellular: 121,800 (2002)
Telephone system: general assessment
Radio broadcast stations: AM 3, FM 5, shortwave 0 (2004)
Radios: 215,000 (1997)
Television broadcast stations: 2 (2004)
Televisions: 67,000 (1997)
Internet country code: .bs
Internet hosts: 302 (2003)
Internet Service Providers (ISPs): 19 (2000)
Internet users: 84,000 (2003)

Transportation , The

Highways: total
Ports and harbors: Freeport, Nassau, South Riding Point
Merchant marine: total
Airports: 63 (2004 est.)
Airports - with paved runways: total
Airports - with unpaved runways: total
Heliports: 1 (2004 est.)

Military , The

Military branches: Royal Bahamaian Defense Force (naval forces) (2004)
Military service age and obligation: 18 years of age (est.); no conscription (2001)
Military expenditures - dollar figure: NA
Military expenditures - percent of GDP: NA

Transnational Issues , The

Disputes - international: have not been able to agree on the alignment of a maritime boundary with the US; continues to monitor and interdict Haitian refugees fleeing economic privation and political instability
Illicit drugs: transshipment point for cocaine and marijuana bound for US and Europe; offshore financial center
Last updated: 20 October, 2005