Bahamas, The

Broadcast media

2 TV 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

20,661 (2012) country comparison to the world: 117

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

133,000 (2011) country comparison to the world: 140

Telephones - mobile cellular

298,800 (2011) country comparison to the world: 173

Agriculture - products

citrus, vegetables; poultry

Budget

revenues: $1.5 billion expenditures: $1.8 billion (2012 est.)

Budget surplus (+) or deficit (-)

-3.6% of GDP (2012 est.) country comparison to the world: 117

Central bank discount rate

4% (31 December 2011 est.) country comparison to the world: 68 5.25% (31 December 2010 est.)

Commercial bank prime lending rate

5.5% (31 December 2012 est.) country comparison to the world: 156 5.06% (31 December 2011 est.)

Current account balance

-$1.139 billion (2012 est.) country comparison to the world: 117 -$1.091 billion (2011 est.)

Debt - external

$16.68 billion (31 December 2012 est.) country comparison to the world: 81 $14.93 billion (31 December 2011 est.)

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. 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 stricter financial regulations in 2000 that caused many international businesses to relocate elsewhere. Manufacturing and agriculture combined contribute approximately a 10th of GDP and show little growth, despite government incentives aimed at those sectors. The Bahamas since 2008 has been hard hit by the global economic crisis; the economy contracted in 2008 and 2009 and growth remains slow.

Exchange rates

Bahamian dollars (BSD) per US dollar - 1 (2012 est.) 1 (2011 est.) 1 (2010 est.) 1 (2008) 1 (2007)

Exports

$790 million (2012 est.) country comparison to the world: 164 $834.9 million (2011 est.)

Exports - commodities

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

Exports - partners

Singapore 28.2%, US 26.9%, Dominican Republic 11.7%, Ecuador 8.6%, Switzerland 5.1% (2011)

Fiscal year

1 July - 30 June

GDP (official exchange rate)

$8.249 billion (2012 est.)

GDP (purchasing power parity)

$11.04 billion (2012 est.) country comparison to the world: 151 $10.77 billion (2011 est.) $10.6 billion (2010 est.) note: data are in 2012 US dollars

GDP - composition by sector

agriculture: 2.1% industry: 7.1% services: 90.8% (2012 est.)

GDP - per capita (PPP)

$31,300 (2012 est.) country comparison to the world: 42 $30,900 (2011 est.) $30,800 (2010 est.) note: data are in 2012 US dollars

GDP - real growth rate

2.5% (2012 est.) country comparison to the world: 132 1.6% (2011 est.) 0.2% (2010 est.)

Household income or consumption by percentage share

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

Imports

$2.882 billion (2012 est.) country comparison to the world: 150 $2.966 billion (2011 est.)

Imports - commodities

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

Imports - partners

US 25.8%, India 18.6%, South Korea 14.3%, Venezuela 9.6%, Singapore 7.7%, China 4.1% (2011)

Industrial production growth rate

NA%

Inflation rate (consumer prices)

2.5% (2012 est.) country comparison to the world: 51 3.2% (2011 est.)

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

Population below poverty line

9.3% (2004)

Reserves of foreign exchange and gold

$1.095 billion (31 December 2012 est.) country comparison to the world: 132 $1.07 billion (31 December 2011 est.)

Stock of broad money

$6.482 billion (31 December 2012 est.) country comparison to the world: 120 $6.104 billion (31 December 2011 est.)

Stock of domestic credit

$9 billion (31 December 2012 est.) country comparison to the world: 102 $8.511 billion (31 December 2011 est.)

Stock of narrow money

$1.436 billion (31 December 2012 est.) country comparison to the world: 137 $1.435 billion (31 December 2011 est.)

Taxes and other revenues

18.2% of GDP (2012 est.) country comparison to the world: 172

Unemployment rate

14.2% (2009 est.) country comparison to the world: 140 8.7% (2008 est.)

Carbon dioxide emissions from consumption of energy

5.573 million Mt (2010 est.) country comparison to the world: 120

Crude oil - exports

0 bbl/day (2009 est.) country comparison to the world: 82

Crude oil - imports

0 bbl/day (2009 est.) country comparison to the world: 159

Crude oil - production

0 bbl/day (2011 est.) country comparison to the world: 111

Crude oil - proved reserves

0 bbl (1 January 2012 est.) country comparison to the world: 109

Electricity - consumption

1.808 billion kWh (2009 est.) country comparison to the world: 141

Electricity - exports

0 kWh (2010 est.) country comparison to the world: 163

Electricity - from fossil fuels

100% of total installed capacity (2009 est.) country comparison to the world: 8

Electricity - from hydroelectric plants

0% of total installed capacity (2009 est.) country comparison to the world: 160

Electricity - from nuclear fuels

0% of total installed capacity (2009 est.) country comparison to the world: 48

Electricity - from other renewable sources

0% of total installed capacity (2009 est.) country comparison to the world: 110

Electricity - imports

0 kWh (2010 est.) country comparison to the world: 160

Electricity - installed generating capacity

493,000 kW (2009 est.) country comparison to the world: 136

Electricity - production

1.945 billion kWh (2009 est.) country comparison to the world: 136

Natural gas - consumption

0 cu m (2010 est.) country comparison to the world: 120

Natural gas - exports

0 cu m (2010 est.) country comparison to the world: 159

Natural gas - imports

0 cu m (2010 est.) country comparison to the world: 160

Natural gas - production

0 cu m (2010 est.) country comparison to the world: 102

Natural gas - proved reserves

0 cu m (1 January 2009 est.) country comparison to the world: 113

Refined petroleum products - consumption

36,300 bbl/day (2011 est.) country comparison to the world: 113

Refined petroleum products - exports

41,610 bbl/day (2009 est.) country comparison to the world: 65

Refined petroleum products - imports

70,990 bbl/day (2008 est.) country comparison to the world: 57

Refined petroleum products - production

0 bbl/day (2008 est.) country comparison to the world: 125

Area

total: 13,880 sq km country comparison to the world: 161 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

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 (vacant); Charge d' Affaires John DINKELMAN 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 (vacant) 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 Perry CHRISTIE (since 8 May 2011) 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 law organization participation

has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt

International organization participation

ACP, AOSIS, C, Caricom, CDB, CELAC, 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

common law system based on the English model

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 7 May 2012 (next to be held by May 2017) election results: percent of vote by party - NA; seats by party - PLP 29, FNM 9

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)

National symbol(s)

blue marlin; flamingo

Political parties and leaders

Free National Movement or FNM [Hubert MINNIS]; 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: 85,568 (2010 est.)

Manpower fit for military service

males age 16-49: 63,429 females age 16-49: 64,645 (2010 est.)

Manpower reaching militarily significant age annually

male: 2,829 female: 2,750 (2010 est.)

Military branches

Royal Bahamas Defense Force: Land Force, Navy, Air Wing (2011)

Military expenditures

0.7% of GDP (2009) country comparison to the world: 150

Military service age and obligation

17 1/2-25 years of age for voluntary male and female service; no conscription (2012)

Age structure

0-14 years: 24% (male 38,483/ female 37,373) 15-64 years: 69.5% (male 108,364/ female 111,340) 65 years and over: 6.5% (male 7,891/ female 12,731) (2012 est.)

Birth rate

15.95 births/1,000 population (2012 est.) country comparison to the world: 126

Death rate

6.91 deaths/1,000 population (July 2012 est.) country comparison to the world: 134

Education expenditures

NA

Ethnic groups

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

HIV/AIDS - adult prevalence rate

3.1% (2009 est.) country comparison to the world: 24

HIV/AIDS - deaths

fewer than 500 (2009 est.) country comparison to the world: 81

HIV/AIDS - people living with HIV/AIDS

6,600 (2009 est.) country comparison to the world: 114

Health expenditures

7.2% of GDP (2009) country comparison to the world: 73

Hospital bed density

3.1 beds/1,000 population (2008)

Infant mortality rate

total: 13.09 deaths/1,000 live births country comparison to the world: 127 male: 12.9 deaths/1,000 live births female: 13.29 deaths/1,000 live births (2012 est.)

Languages

English (official), Creole (among Haitian immigrants)

Life expectancy at birth

total population: 71.44 years country comparison to the world: 139 male: 69.04 years female: 73.91 years (2012 est.)

Literacy

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

Major cities - population

NASSAU (capital) 248,000 (2009)

Maternal mortality rate

47 deaths/100,000 live births (2010) country comparison to the world: 111

Median age

total: 30.5 years male: 29.4 years female: 31.7 years (2012 est.)

Nationality

noun: Bahamian(s) adjective: Bahamian

Net migration rate

0 migrant(s)/1,000 population (2012 est.) country comparison to the world: 75

Physicians density

1.05 physicians/1,000 population (1998)

Population

316,182 (July 2012 est.) country comparison to the world: 178 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

Population growth rate

0.904% (2012 est.) country comparison to the world: 123

Religions

Protestant 67.6% (Baptist 35.4%, Anglican 15.1%, Pentecostal 8.1%, Church of God 4.8%, Methodist 4.2%), Roman Catholic 13.5%, other Christian 15.2%, none or unspecified 2.9%, other 0.8% (2000 census)

Sanitation facility access

improved: urban: 100% of population rural: 100% of population total: 100% of population

School life expectancy (primary to tertiary education)

total: 12 years male: 12 years female: 12 years (2006)

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 (2011 est.)

Total fertility rate

1.98 children born/woman (2012 est.) country comparison to the world: 133

Unemployment, youth ages 15-24

total: 18.9% country comparison to the world: 62 male: 16.7% female: 21.7% (2007)

Urbanization

urban population: 84% of total population (2010) rate of urbanization: 1.3% annual rate of change (2010-15 est.)

Disputes - international

disagrees with the US on the alignment of the northern axis of a potential maritime boundary

Illicit drugs

transshipment point for cocaine and marijuana bound for US and Europe; offshore financial center

Airports

61 (2012) country comparison to the world: 81

Airports - with paved runways

total: 22 over 3,047 m: 2 2,438 to 3,047 m: 2 1,524 to 2,437 m: 13 914 to 1,523 m: 5 (2012)

Airports - with unpaved runways

total: 39 1,524 to 2,437 m: 4 914 to 1,523 m: 15 under 914 m: 20 (2012)

Heliports

1 (2012)

Merchant marine

total: 1,160 country comparison to the world: 10 by type: barge carrier 1, bulk carrier 238, cargo 170, carrier 2, chemical tanker 87, combination ore/oil 8, container 57, liquefied gas 71, passenger 102, passenger/cargo 26, petroleum tanker 225, refrigerated cargo 97, roll on/roll off 13, specialized tanker 2, vehicle carrier 61 foreign-owned: 1,063 (Angola 6, Australia 1, Belgium 6, Bermuda 15, Brazil 1, Canada 96, Croatia 1, Cyprus 23, Denmark 69, Finland 8, France 15, Germany 30, Greece 225, Guernsey 6, Hong Kong 3, Indonesia 2, Ireland 3, Italy 1, Japan 88, Jordan 2, Kuwait 1, Malaysia 13, Monaco 8, Montenegro 2, Netherlands 23, Nigeria 2, Norway 186, Poland 34, Saudi Arabia 16, Singapore 7, South Korea 1, Spain 6, Sweden 11, Switzerland 1, Thailand 4, Turkey 3, UAE 23, UK 18, US 109) registered in other countries: 6 (Panama 6) (2010)

Ports and terminals

Freeport, Nassau, South Riding Point

Roadways

total: 2,717 km country comparison to the world: 169 paved: 1,560 km unpaved: 1,157 km (2002)