Bahamas, The

Broadcast media

2 television stations operated by government-owned, commercially run Broadcasting Corporation of the Bahamas (BCB); multi-channel cable TV subscription service is available; about 15 radio stations operating with BCB operating a multi-channel radio broadcasting network alongside privately-owned radio stations (2007)

Internet country code

.bs

Internet hosts

21,939 (2010) country comparison to the world: 107

Internet users

115,800 (2009) country comparison to the world: 156

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

129,000 (2009) country comparison to the world: 140

Telephones - mobile cellular

358,800 (2009) country comparison to the world: 166

Agriculture - products

citrus, vegetables; poultry

Central bank discount rate

5.25% (31 December 2009) country comparison to the world: 82 5.25% (31 December 2008)

Commercial bank prime lending rate

5.5% (31 December 2009 est.) country comparison to the world: 143 5.5% (31 December 2008 est.)

Current account balance

-$283.2 million (2009 est.) country comparison to the world: 95 -$1.442 billion (2007 est.)

Debt - external

$342.6 million (2004 est.) country comparison to the world: 168

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. Prior to 2006, a steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences led to solid GDP growth but since then tourism receipts have begun to drop off. The global recession in 2009 took a sizeable toll on the Bahamas, resulting in a contraction in GDP and a widening budget deficit. The decline continued in 2010 as tourism from the US and sector investment lagged. 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, the financial sector currently is smaller than it has been in the past because of the enactment of new and more strict financial regulations in 2000 that caused many international businesses to relocate elsewhere. 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.

Electricity - consumption

1.902 billion kWh (2007 est.) country comparison to the world: 135

Electricity - exports

0 kWh (2008 est.)

Electricity - imports

0 kWh (2008 est.)

Electricity - production

2.045 billion kWh (2007 est.) country comparison to the world: 132

Exchange rates

Bahamian dollars (BSD) per US dollar - 1 (2009), 1 (2008), 1 (2007), 1 (2006)

Exports

$674 million (2006) country comparison to the world: 162

Exports - commodities

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

Exports - partners

US 35.99%, Singapore 18.64%, Poland 12.1%, Germany 6.24% (2009)

GDP (official exchange rate)

$7.538 billion (2010 est.)

GDP (purchasing power parity)

$8.878 billion (2010 est.) country comparison to the world: 151 $8.923 billion (2009 est.) $9.285 billion (2008 est.) note: data are in 2010 US dollars

GDP - composition by sector

agriculture: 1.2% industry: 14.7% services: 84.1% (2001 est.)

GDP - per capita (PPP)

$28,600 (2010 est.) country comparison to the world: 49 $29,000 (2009 est.) $30,500 (2008 est.) note: data are in 2010 US dollars

GDP - real growth rate

-0.5% (2010 est.) country comparison to the world: 193 -3.9% (2009 est.) -1.7% (2008 est.)

Household income or consumption by percentage share

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

Imports

$2.401 billion (2006) country comparison to the world: 148

Imports - commodities

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

Imports - partners

US 27.23%, South Korea 20.08%, Japan 14.55%, Singapore 5.89%, China 4.75%, Venezuela 4.26%, Italy 4.12% (2009)

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.) country comparison to the world: 69

Labor force

184,000 (2009) country comparison to the world: 173

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 (2008 est.) country comparison to the world: 207

Natural gas - exports

0 cu m (2008 est.) country comparison to the world: 200

Natural gas - imports

0 cu m (2008 est.) country comparison to the world: 200

Natural gas - production

0 cu m (2008 est.) country comparison to the world: 205

Natural gas - proved reserves

NA cu m (1 January 2009 est.)

Oil - consumption

36,000 bbl/day (2009 est.) country comparison to the world: 110

Oil - exports

transshipments of 41,570 bbl/day (2007 est.) country comparison to the world: 81

Oil - imports

20,560 bbl/day (2009 est.) country comparison to the world: 110

Oil - production

0 bbl/day (2009 est.) country comparison to the world: 206

Oil - proved reserves

0 bbl (1 January 2010 est.) country comparison to the world: 202

Population below poverty line

9.3% (2004)

Stock of broad money

$5.991 billion (31 December 2009 est.) country comparison to the world: 114 $5.893 billion (31 December 2008 est.)

Stock of domestic credit

$7.993 billion (31 December 2009) country comparison to the world: 101 $7.883 billion (31 December 2008)

Stock of narrow money

$1.284 billion (31 December 2009) country comparison to the world: 130 $1.275 billion (31 December 2008)

Unemployment rate

7.6% (2006 est.) country comparison to the world: 80

Area

total: 13,880 sq km country comparison to the world: 160 land: 10,010 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

Administrative divisions

31 districts; Acklins Islands, Berry Islands, Bimini, Black Point, Cat Island, Central Abaco, Central Andros, Central Eleuthera, City of Freeport, Crooked Island and Long Cay, East Grand Bahama, Exuma, Grand Cay, Harbour Island, Hope Town, Inagua, Long Island, Mangrove Cay, Mayaguana, Moore's Island, North Abaco, North Andros, North Eleuthera, Ragged Island, Rum Cay, San Salvador, South Abaco, South Andros, South Eleuthera, Spanish Wells, West Grand Bahama

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 Nicole A. AVANT 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) FAX: [1] (242) 328-2206

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

Executive branch

chief of state: Queen ELIZABETH II (since 6 February 1952); represented by Governor General Sir Arthur A. FOULKES (since 14 April 2010) 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 (For more information visit theWorld Leaders website) elections: the monarchy 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

Flag description

three equal horizontal bands of aquamarine (top), gold, and aquamarine, with a black equilateral triangle based on the hoist side; the band colors represent the golden beaches of the islands surrounded by the aquamarine sea; black represents the vigor and force of a united people, while the pointing triangle indicates the enterprise and determination of the Bahamian people to develop the rich resources of land and sea

Government type

constitutional parliamentary democracy and a Commonwealth realm

Independence

10 July 1973 (from the UK)

International organization participation

ACP, AOSIS, C, Caricom, CDB, FAO, G-77, IADB, IBRD, ICAO, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, ITSO, ITU, LAES, MIGA, NAM, OAS, OPANAL, OPCW, PetroCaribe, UN, UNCTAD, UNESCO, UNIDO, UNWTO, UPU, WCO, 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; has not accepted compulsory ICJ jurisdiction

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 on 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 anthem

name: "March On, Bahamaland!" lyrics/music: Timothy GIBSON note: adopted 1973; as a Commonwealth country, in addition to the national anthem, "God Save the Queen" serves as the royal anthem (see United Kingdom)

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

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 has 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.

Manpower available for military service

males age 16-49: 84,903 (2010 est.)

Manpower fit for military service

males age 16-49: 62,779 females age 16-49: 63,954 (2010 est.)

Manpower reaching militarily significant age annually

male: 2,840 female: 2,758 (2010 est.)

Military branches

Royal Bahamian Defense Force: Land Force, Navy, Air Wing (2010)

Military expenditures

0.7% of GDP (2009) country comparison to the world: 152

Military service age and obligation

18 years of age; no conscription (2010)

Age structure

0-14 years: 25.3% (male 39,493/female 38,355) 15-64 years: 68.7% (male 103,889/female 107,528) 65 years and over: 5.9% (male 6,998/female 11,289) (2010 est.)

Birth rate

16.25 births/1,000 population (2010 est.) country comparison to the world: 128

Death rate

6.89 deaths/1,000 population (July 2010 est.) country comparison to the world: 140

Education expenditures

3.6% of GDP (2000) country comparison to the world: 127

Ethnic groups

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

HIV/AIDS - adult prevalence rate

3% (2007 est.) country comparison to the world: 24

HIV/AIDS - deaths

fewer than 200 (2007 est.) country comparison to the world: 105

HIV/AIDS - people living with HIV/AIDS

6,200 (2007 est.) country comparison to the world: 118

Infant mortality rate

total: 13.68 deaths/1,000 live births country comparison to the world: 129 male: 13.68 deaths/1,000 live births female: 13.69 deaths/1,000 live births (2010 est.)

Languages

English (official), Creole (among Haitian immigrants)

Life expectancy at birth

total population: 70.84 years country comparison to the world: 140 male: 68.48 years female: 73.27 years (2010 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: 29.9 years male: 28.8 years female: 31 years (2010 est.)

Nationality

noun: Bahamian(s) adjective: Bahamian

Net migration rate

0 migrant(s)/1,000 population (2010 est.) country comparison to the world: 98

Population

310,426 country comparison to the world: 177 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 2010 est.)

Population growth rate

0.935% (2010 est.) country comparison to the world: 126

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: 1.03 male(s)/female under 15 years: 1.03 male(s)/female 15-64 years: 0.97 male(s)/female 65 years and over: 0.62 male(s)/female total population: 0.96 male(s)/female (2010 est.)

Total fertility rate

2 children born/woman (2010 est.) country comparison to the world: 128

Urbanization

urban population: 84% of total population (2008) rate of urbanization: 1.4% annual rate of change (2005-10 est.)

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

Airports

62 (2010) country comparison to the world: 78

Airports - with paved runways

total: 23 over 3,047 m: 2 2,438 to 3,047 m: 3 1,524 to 2,437 m: 13 914 to 1,523 m: 5 (2010)

Airports - with unpaved runways

total: 39 1,524 to 2,437 m: 5 914 to 1,523 m: 12 under 914 m: 22 (2010)

Heliports

1 (2010)

Merchant marine

total: 1,170 country comparison to the world: 10 by type: barge carrier 1, bulk carrier 229, cargo 191, carrier 2, chemical tanker 80, combination ore/oil 8, container 50, liquefied gas 78, passenger 100, passenger/cargo 29, petroleum tanker 222, refrigerated cargo 106, roll on/roll off 12, specialized tanker 2, vehicle carrier 60 foreign-owned: 1,080 (Angola 5, Belgium 9, Bermuda 12, Brazil 1, Canada 102, China 4, Croatia 1, Cyprus 14, Denmark 59, Finland 8, France 19, Germany 39, Greece 209, Guernsey 6, Hong Kong 2, Indonesia 2, Ireland 3, Italy 5, Japan 93, Jordan 2, Kuwait 2, Malaysia 13, Monaco 14, Montenegro 2, Netherlands 22, Nigeria 2, Norway 198, Poland 32, Saudi Arabia 16, Singapore 7, Slovenia 1, Spain 9, Sweden 6, Switzerland 2, Thailand 4, Trinidad and Tobago 1, Turkey 3, UAE 27, UK 24, US 100) registered in other countries: 10 (Bolivia 1, Malta 1, Panama 7, Peru 1) (2010)

Ports and terminals

Freeport, Nassau, South Riding Point

Roadways

total: 2,717 km country comparison to the world: 168 paved: 1,560 km unpaved: 1,157 km (2002)