Bahamas, The
Background: Since attaining independence from the UK in 1973, The Bahamas have prospered through tourism and international banking and investment management. By the early 1980s, the islands had become a major center for drug trafficking, particularly shipments to the US.
Location: Caribbean, chain of islands in the North Atlantic Ocean, southeast of Florida Geographic coordinates: 24 15 N, 76 00 W Map references: Central America and the Caribbean Area:
Area - comparative: slightly smaller than Connecticut Land boundaries: 0 km Coastline: 3,542 km Maritime claims:
Climate: tropical marine; moderated by warm waters of Gulf Stream Terrain: long, flat coral formations with some low rounded hills Elevation extremes:
Natural resources: salt, aragonite, timber Land use:
Irrigated land: NA sq km Natural hazards: hurricanes and other tropical storms that cause extensive flood and wind damage Environment - current issues: coral reef decay; solid waste disposal Environment - international agreements:
Geography - note: strategic location adjacent to US and Cuba; extensive island chain
Population:
294,982
Age structure:
Population growth rate: 1.01% (2000 est.) Birth rate: 19.54 births/1,000 population (2000 est.) Death rate: 6.81 deaths/1,000 population (2000 est.) Net migration rate: -2.67 migrant(s)/1,000 population (2000 est.) Sex ratio:
Infant mortality rate: 16.99 deaths/1,000 live births (2000 est.) Life expectancy at birth:
Total fertility rate: 2.33 children born/woman (2000 est.) Nationality:
Ethnic groups: black 85%, white 12%, Asian and Hispanic 3% Religions: Baptist 32%, Anglican 20%, Roman Catholic 19%, Methodist 6%, Church of God 6%, other Protestant 12%, none or unknown 3%, other 2% Languages: English, Creole (among Haitian immigrants) Literacy:
Country name:
Data code: BF 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, Nicholls Town and Berry Islands, Ragged Island, Rock Sound, Sandy Point, San Salvador and Rum Cay Independence: 10 July 1973 (from UK) National holiday: National Day, 10 July (1973) Constitution: 10 July 1973 Legal system: based on English common law Suffrage: 18 years of age; universal Executive branch:
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 a five-year term) and the House of Assembly (40 seats; members elected by direct popular vote to serve five-year terms)
Judicial branch: Supreme Court; Court of Appeal; magistrate's courts Political parties and leaders: Free National Movement or FNM [Hubert Alexander INGRAHAM]; Progressive Liberal Party or PLP [Perry CHRISTIE] International organization participation: ACP, C, Caricom, CCC, CDB, ECLAC, FAO, G-77, IADB, IBRD, ICAO, ICFTU, ICRM, IFC, IFRCS, ILO, IMF, IMO, Inmarsat, Intelsat, Interpol, IOC, ITU, LAES, NAM, OAS, OPANAL, OPCW, UN, UNCTAD, UNESCO, UNIDO, UPU, WHO, WIPO, WMO, WTrO (applicant) Diplomatic representation in the US:
Diplomatic representation from the US:
Flag description: three equal horizontal bands of aquamarine (top), gold, and aquamarine, with a black equilateral triangle based on the hoist side
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 40% of the archipelago's labor force. Moderate growth in tourism receipts and a boom in construction of new hotels, resorts, and residences led to an increase of the country's GDP by an estimated 3% in 1998. Manufacturing and agriculture together contribute less than 10% of GDP and show little growth, despite government incentives aimed at those sectors. Overall growth prospects in the short run will depend heavily on the fortunes of the tourism sector and continued income growth in the US, which accounts for the majority of tourist visitors. GDP: purchasing power parity - $5.58 billion (1998 est.) GDP - real growth rate: 3% (1998 est.) GDP - per capita: purchasing power parity - $20,000 (1998 est.) GDP - composition by sector:
Population below poverty line: NA% Household income or consumption by percentage share:
Inflation rate (consumer prices): 1.3% (1998) Labor force: 148,000 (1996) Labor force - by occupation: tourism 40%, other services 50%, industry 5%, agriculture 5% (1995 est.) Unemployment rate: 9% (1998 est.) Budget:
Industries: tourism, banking, cement, oil refining and transshipment, salt, rum, aragonite, pharmaceuticals, spiral-welded steel pipe Industrial production growth rate: NA% Electricity - production: 1.34 billion kWh (1998) Electricity - production by source:
Electricity - consumption: 1.246 billion kWh (1998) Electricity - exports: 0 kWh (1998) Electricity - imports: 0 kWh (1998) Agriculture - products: citrus, vegetables; poultry Exports: $362.8 million (1998) Exports - commodities: pharmaceuticals, cement, rum, crawfish, refined petroleum products Exports - partners: US 22.3%, Switzerland 15.6%, UK 15%, Denmark 7.4% (1998) Imports: $1.74 billion (1998) Imports - commodities: foodstuffs, manufactured goods, crude oil, vehicles, electronics Imports - partners: US 27.3%, Italy 26.5%, Japan 10%, Denmark 4.2% (1998) Debt - external: $349 million (1998) Economic aid - recipient: $9.8 million (1995) Currency: 1 Bahamian dollar (B$) = 100 cents Exchange rates: Bahamian dollar (B$) per US$1 - 1.000 (fixed rate pegged to the dollar) Fiscal year: 1 July - 30 June
Telephones - main lines in use: 77,000 (1994) Telephones - mobile cellular: 2,400 (1993) Telephone system:
Radio broadcast stations: AM 3, FM 4, shortwave 0 (1998) Radios: 215,000 (1997) Television broadcast stations: 1 (1997) Televisions: 67,000 (1997) Internet Service Providers (ISPs): 3 (1999)
Railways: 0 km Highways:
Ports and harbors: Freeport, Matthew Town, Nassau Merchant marine:
Airports: 62 (1999 est.) Airports - with paved runways:
Airports - with unpaved runways:
Heliports: 1 (1999 est.)
Military branches: Royal Bahamas Defense Force (Coast Guard only), Royal Bahamas Police Force Military expenditures - dollar figure: $20 million (FY95/96) Military expenditures - percent of GDP: NA%
Disputes - international: none Illicit drugs: transshipment point for cocaine and marijuana bound for US and Europe; banking industry vulnerable to money laundering |
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