2008 Edition

Background

Lucayan 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 Europe, and its territory is used for smuggling illegal migrants into the US.

Area

total: 13,940 sq km land: 10,070 sq km water: 3,870 sq km

Area - comparative

slightly smaller than Connecticut

Climate

tropical marine; moderated by warm waters of Gulf Stream

Coastline

3,542 km

Elevation extremes

lowest point: Atlantic Ocean 0 m highest point: Mount Alvernia, on Cat Island 63 m

Environment - current issues

coral reef decay; solid waste disposal

Environment - international agreements

party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Ozone Layer Protection, Ship Pollution, Wetlands signed, but not ratified: none of the selected agreements

Geographic coordinates

24 15 N, 76 00 W

Geography - note

strategic location adjacent to US and Cuba; extensive island chain of which 30 are inhabited

Irrigated land

10 sq km (2003)

Land boundaries

0 km

Land use

arable land: 0.58% permanent crops: 0.29% other: 99.13% (2005)

Location

Caribbean, chain of islands in the North Atlantic Ocean, southeast of Florida, northeast of Cuba

Map references

Central America and the Caribbean

Maritime claims

territorial sea: 12 nm exclusive economic zone: 200 nm

Natural hazards

hurricanes and other tropical storms cause extensive flood and wind damage

Natural resources

salt, aragonite, timber, arable land

Terrain

long, flat coral formations with some low rounded hills

Total renewable water resources

NA

Age structure

0-14 years: 26.4% (male 40,608/female 40,506) 15-64 years: 66.9% (male 101,150/female 104,457) 65 years and over: 6.7% (male 8,472/female 12,258) (2008 est.)

Birth rate

17.06 births/1,000 population (2008 est.)

Death rate

9.22 deaths/1,000 population (2008 est.)

Education expenditures

3.6% of GDP (2000)

Ethnic groups

black 85%, white 12%, Asian and Hispanic 3%

HIV/AIDS - adult prevalence rate

3% (2003 est.)

HIV/AIDS - deaths

fewer than 200 (2003 est.)

HIV/AIDS - people living with HIV/AIDS

5,600 (2003 est.)

Infant mortality rate

total: 23.67 deaths/1,000 live births male: 28.89 deaths/1,000 live births female: 18.34 deaths/1,000 live births (2008 est.)

Languages

English (official), Creole (among Haitian immigrants)

Life expectancy at birth

total population: 65.72 years male: 62.5 years female: 69 years (2008 est.)

Literacy

definition: age 15 and over can read and write total population: 95.6% male: 94.7% female: 96.5% (2003 est.)

Median age

total: 28.4 years male: 27.6 years female: 29.2 years (2008 est.)

Nationality

noun: Bahamian(s) adjective: Bahamian

Net migration rate

-2.14 migrant(s)/1,000 population (2008 est.)

Population

307,451 note: estimates for this country explicitly take into account the effects of excess mortality due to AIDS; this can result in lower life expectancy, higher infant mortality, higher death rates, lower population growth rates, and changes in the distribution of population by age and sex than would otherwise be expected (July 2008 est.)

Population growth rate

0.57% (2008 est.)

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)

Sex ratio

at birth: 1.02 male(s)/female under 15 years: 1 male(s)/female 15-64 years: 0.97 male(s)/female 65 years and over: 0.69 male(s)/female total population: 0.96 male(s)/female (2008 est.)

Total fertility rate

2.13 children born/woman (2008 est.)

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

Capital

name: Nassau geographic coordinates: 25 05 N, 77 21 W time difference: UTC-5 (same time as Washington, DC during Standard Time) daylight saving time: +1hr, begins second Sunday in March; ends first Sunday in November

Constitution

10 July 1973

Country name

conventional long form: Commonwealth of The Bahamas conventional short form: The Bahamas

Diplomatic representation from the US

chief of mission: Ambassador Ned L. SIEGEL embassy: 42 Queen Street, Nassau, New Providence mailing address: local or express mail address: P. O. Box N-8197, Nassau; US Department of State, 3370 Nassau Place, Washington, DC 20521-3370 telephone: [1] (242) 322-1181, 328-2206 (after hours)

Diplomatic representation in the US

chief of mission: Ambassador Cornelius A. SMITH chancery: 2220 Massachusetts Avenue NW, Washington, DC 20008 telephone: [1] (202) 319-2660

Executive branch

chief of state: Queen ELIZABETH II (since 6 February 1952); represented by Governor General Arthur D. HANNA (since 1 February 2006) head of government: Prime Minister Hubert A. INGRAHAM (since 4 May 2007) cabinet: Cabinet appointed by the governor general on the prime minister's recommendation elections: the monarch is hereditary; governor general appointed by the monarch; following legislative elections, the leader of the majority party or the leader of the majority coalition is usually appointed prime minister by the governor general; the prime minister recommends the deputy prime minister

FAX

[1] (202) 319-2668 consulate(s) general: Miami, New York

[1] (242) 328-2206

Flag description

three equal horizontal bands of aquamarine (top), gold, and aquamarine, with a black equilateral triangle based on the hoist side

Government type

constitutional parliamentary democracy

Independence

10 July 1973 (from UK)

International organization participation

ACP, C, Caricom, CDB, FAO, G-77, IADB, IBRD, ICAO, ICCt (signatory), ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, ITSO, ITU, LAES, MIGA, NAM, OAS, OPANAL, OPCW (signatory), UN, UNCTAD, UNESCO, UNIDO, UNWTO, UPU, WCO, WFTU, WHO, WIPO, WMO, WTO (observer)

Judicial branch

Privy Council in London; Courts of Appeal; Supreme (lower) Court; Magistrates' Courts

Legal system

based on English common law

Legislative branch

bicameral Parliament consists of the Senate (16 seats; members appointed by the governor general upon the advice of the prime minister and the opposition leader to serve five-year terms) and the House of Assembly (41 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: last held 2 May 2007 (next to be held by May 2012) election results: percent of vote by party - FNM 49.86%, PLP 47.02%; seats by party - FNM 23, PLP 18

National holiday

Independence Day, 10 July (1973)

Political parties and leaders

Free National Movement or FNM [Hubert INGRAHAM]; Progressive Liberal Party or PLP [Perry CHRISTIE]

Political pressure groups and leaders

Friends of the Environment other: trade unions

Suffrage

18 years of age; universal

Agriculture - products

citrus, vegetables; poultry

Budget

revenues: $1.03 billion expenditures: $1.03 billion (FY04/05)

Central bank discount rate

5.25% (31 December 2007)

Commercial bank prime lending rate

5.5% (31 December 2007)

Currency (code)

Bahamian dollar (BSD)

Currency code

BSD

Current account balance

-$1.442 billion (2007 est.)

Debt - external

$342.6 million (2004 est.)

Economic aid - recipient

$4.78 million (2004)

Economy - overview

The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 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 tourist arrivals have been on the decline since 2006. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 36% 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 combined 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. Tourism, in turn, depends on growth in the US, the source of more than 80% of the visitors.

Electricity - consumption

1.793 billion kWh (2006 est.)

Electricity - exports

0 kWh (2007 est.)

Electricity - imports

0 kWh (2007 est.)

Electricity - production

2.05 billion kWh (2007 est.)

Electricity - production by source

fossil fuel: 100% hydro: 0% nuclear: 0% other: 0% (2001)

Exchange rates

Bahamian dollars (BSD) per US dollar - 1 (2007), 1 (2006), 1 (2005), 1 (2004), 1 (2003)

Exports

$674 million (2006)

Exports - commodities

mineral products and salt, animal products, rum, chemicals, fruit and vegetables

Exports - partners

US 20.4%, Singapore 15.5%, Spain 14.5%, Poland 14.3%, Germany 6.6%, Guatemala 5.7%, Switzerland 5.2% (2007)

Fiscal year

1 July - 30 June

GDP - composition by sector

agriculture: 3% industry: 7% services: 90% (2001 est.)

GDP - per capita (PPP)

$28,000 (2007 est.)

GDP - real growth rate

2.8% (2007 est.)

GDP (official exchange rate)

$6.586 billion (2007 est.)

GDP (purchasing power parity)

$8.553 billion (2007 est.)

Household income or consumption by percentage share

lowest 10%: NA% highest 10%: 27% (2000)

Imports

$2.401 billion (2006)

Imports - commodities

machinery and transport equipment, manufactures, chemicals, mineral fuels; food and live animals

Imports - partners

US 26.7%, South Korea 14.1%, Japan 13.5%, Italy 7.5%, Singapore 5.2%, Venezuela 4.5%, Spain 4.3% (2007)

Industrial production growth rate

NA%

Industries

tourism, banking, cement, oil transshipment, salt, rum, aragonite, pharmaceuticals, spiral-welded steel pipe

Inflation rate (consumer prices)

2.4% (2007 est.)

Labor force

181,900 (2006)

Labor force - by occupation

agriculture 5%, industry 5%, tourism 50%, other services 40% (2005 est.)

Market value of publicly traded shares

$NA

Natural gas - consumption

0 cu m (2007 est.)

Natural gas - exports

0 cu m (2007 est.)

Natural gas - imports

0 cu m (2007 est.)

Natural gas - production

0 cu m (2007 est.)

Natural gas - proved reserves

0 cu m (1 January 2006 est.)

Oil - consumption

26,830 bbl/day (2006 est.)

Oil - exports

transshipments of 38,740 bbl/day (2005)

Oil - imports

69,780 bbl/day (2005)

Oil - production

0 bbl/day (2007 est.)

Oil - proved reserves

0 bbl (1 January 2006 est.)

Population below poverty line

9.3% (2004)

Stock of domestic credit

$7.395 billion (31 December 2007)

Stock of money

$1.274 billion (31 December 2007)

Stock of quasi money

$4.324 billion (31 December 2007)

Unemployment rate

7.6% (2006 est.)

Internet country code

.bs

Internet hosts

41 (2008)

Internet Service Providers (ISPs)

19 (2000)

Internet users

120,000 (2007)

Radio broadcast stations

AM 3, FM 5, shortwave 0 (2006)

Radios

215,000 (1997)

Telephone system

general assessment: modern facilities domestic: totally automatic system; highly developed; the Bahamas Domestic Submarine Network links 14 of the islands and is designed to satisfy increasing demand for voice and broadband internet services international: country code - 1-242; landing point for the Americas Region Caribbean Ring System (ARCOS-1) fiber-optic submarine cable that provides links to South and Central America, parts of the Caribbean, and the US; satellite earth stations - 2 (2007)

Telephones - main lines in use

132,900 (2007)

Telephones - mobile cellular

374,000 (2007)

Television broadcast stations

2 (2006)

Televisions

67,000 (1997)

Airports

62 (2007)

Airports - with paved runways

total: 24 over 3,047 m: 2 2,438 to 3,047 m: 3 1,524 to 2,437 m: 12 914 to 1,523 m: 7 (2007)

Airports - with unpaved runways

total: 38 1,524 to 2,437 m: 5 914 to 1,523 m: 11 under 914 m: 22 (2007)

Heliports

1 (2007)

Merchant marine

total: 1,223 by type: barge carrier 1, bulk carrier 210, cargo 226, carrier 2, chemical tanker 88, combination ore/oil 12, container 65, liquefied gas 77, passenger 109, passenger/cargo 35, petroleum tanker 209, refrigerated cargo 119, roll on/roll off 16, specialized tanker 3, vehicle carrier 51 foreign-owned: 1,150 (Angola 6, Belgium 15, Bermuda 12, Brazil 2, Canada 84, China 10, Croatia 1, Cuba 1, Cyprus 25, Denmark 67, Finland 9, France 30, Germany 44, Greece 209, Hong Kong 30, Iceland 1, Indonesia 2, Ireland 2, Isle of Man 1, Italy 4, Japan 87, Jordan 2, Kenya 1, Malaysia 13, Monaco 15, Montenegro 2, Netherlands 9, Nigeria 2, Norway 189, Poland 17, Russia 4, Saudi Arabia 16, Singapore 17, Slovenia 1, South Africa 1, Spain 14, Sweden 4, Switzerland 1, Thailand 5, Trinidad and Tobago 1, Turkey 8, UAE 23, UK 56, US 106, Venezuela 1) registered in other countries: 12 (Bolivia 1, Panama 9, Peru 1, Portugal 1) (2008)

Ports and terminals

Freeport, Nassau, South Riding Point

Roadways

total: 2,717 km paved: 1,560 km unpaved: 1,133 km (2002)

Manpower available for military service

males age 16-49: 80,200 (2008 est.)

Manpower fit for military service

males age 16-49: 50,282 (2008 est.)

Manpower reaching militarily significant age annually

male: 3,016 female: 3,024 (2008 est.)

Military expenditures

0.5% of GDP (2006)

Military service age and obligation

18 years of age (est.); no conscription (2008)

Royal Bahamian Defense Force

Land Force, Navy, Air Wing (2007)

Disputes - international

disagrees with the US on the alignment the northern axis of a potential maritime boundary; continues to monitor and interdict drug dealers and Haitian and Cuban refugees in Bahamian waters

Illicit drugs

transshipment point for cocaine and marijuana bound for US and Europe; offshore financial center This page was last updated on 18 December, 2008