{ "Introduction": { "Background": { "text": "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. Piracy thrived in the 17th and 18th centuries because of The Bahamas close proximity to shipping lanes. Since attaining independence from the UK in 1973, The Bahamas has prospered through tourism, international banking, and investment management, which comprise up to 85% of GDP. Because of its proximity to the US - the nearest Bahamian landmass being only 80 km (50 mi) from Florida - the country is a major transshipment point for illicit trafficking, particularly to the US mainland, as well as Europe. US law enforcement agencies cooperate closely with The Bahamas, and the US Coast Guard assists Bahamian authorities in coastal defense through Operation Bahamas, Turks and Caicos, or OPBAT." } }, "Geography": { "Location": { "text": "chain of islands in the North Atlantic Ocean, southeast of Florida, northeast of Cuba" }, "Geographic coordinates": { "text": "24 15 N, 76 00 W" }, "Map references": { "text": "Central America and the Caribbean" }, "Area": { "total": { "text": "13,880 sq km" }, "land": { "text": "10,010 sq km" }, "water": { "text": "3,870 sq km" } }, "Area - comparative": { "text": "slightly smaller than Connecticut" }, "Land boundaries": { "total": { "text": "0 km" } }, "Coastline": { "text": "3,542 km" }, "Maritime claims": { "territorial sea": { "text": "12 nm" }, "exclusive economic zone": { "text": "200 nm" } }, "Climate": { "text": "tropical marine; moderated by warm waters of Gulf Stream" }, "Terrain": { "text": "long, flat coral formations with some low rounded hills" }, "Elevation": { "lowest point": { "text": "Atlantic Ocean 0 m" }, "highest point": { "text": "1.3 km NE of Old Bight on Cat Island 64 m" } }, "Natural resources": { "text": "salt, aragonite, timber, arable land" }, "Land use": { "agricultural land": { "text": "1.4% (2018 est.)" }, "agricultural land: arable land": { "text": "arable land: 0.8% (2018 est.)" }, "agricultural land: permanent crops": { "text": "permanent crops: 0.4% (2018 est.)" }, "agricultural land: permanent pasture": { "text": "permanent pasture: 0.2% (2018 est.)" }, "forest": { "text": "51.4% (2018 est.)" }, "other": { "text": "47.2% (2018 est.)" } }, "Irrigated land": { "text": "10 sq km (2012)" }, "Population distribution": { "text": "most of the population lives in urban areas, with two-thirds living on New Providence Island where Nassau is located" }, "Natural hazards": { "text": "hurricanes and other tropical storms cause extensive flood and wind damage" }, "Environment - current issues": { "text": "coral reef decay; solid waste disposal" }, "Environment - international agreements": { "party to": { "text": "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": { "text": "none of the selected agreements" } }, "Geography - note": { "text": "strategic location adjacent to US and Cuba; extensive island chain of which 30 are inhabited" } }, "People and Society": { "Population": { "text": "352,655 (July 2021 est.)", "note": "
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
" }, "Nationality": { "noun": { "text": "Bahamian(s)" }, "adjective": { "text": "Bahamian" } }, "Ethnic groups": { "text": "Black 90.6%, White 4.7%, mixed 2.1%, other 1.9%, unspecified 0.7% (2010 est.)", "note": "note: Prime Minister Hubert MINNIS is only the fourth prime minister in Bahamian history following its independence from the UK; he is also the first prime minister in 25 years besides Perry CHRISTIE and Hubert INGRAHAM, who repeatedly traded the premiership from 1992 to 2017
" }, "Legislative branch": { "description": { "text": "bicameral Parliament consists of:note: the Bahamas is a member of the 15-member Caribbean Community but is not party to the agreement establishing the Caribbean Court of Justice as its highest appellate court; the Judicial Committee of the Privy Council (in London) serves as the final court of appeal for The Bahamas
" }, "Political parties and leaders": { "text": "Democratic National Alliance or DNA [Christopher MORTIMER, interim leader]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)
" } }, "Economy": { "Economic overview": { "text": "The Bahamas has the second highest per capita GDP in the English-speaking Caribbean with an economy heavily dependent on tourism and financial services. Tourism accounts for approximately 50% of GDP and directly or indirectly employs half of the archipelago's labor force. Financial services constitute the second-most important sector of the Bahamian economy, accounting for about 15% of GDP. Manufacturing and agriculture combined contribute less than 7% of GDP and show little growth, despite government incentives aimed at those sectors. The new government led by Prime Minister Hubert MINNIS has prioritized addressing fiscal imbalances and rising debt, which stood at 75% of GDP in 2016. Large capital projects like the Baha Mar Casino and Hotel are driving growth. Public debt increased in 2017 in large part due to hurricane reconstruction and relief financing. The primary fiscal balance was a deficit of 0.4% of GDP in 2016. The Bahamas is the only country in the Western Hemisphere that is not a member of the World Trade Organization." }, "Real GDP growth rate": { "Real GDP growth rate 2017": { "text": "1.4% (2017 est.)" }, "Real GDP growth rate 2016": { "text": "-1.7% (2016 est.)" }, "Real GDP growth rate 2015": { "text": "1% (2015 est.)" } }, "Inflation rate (consumer prices)": { "Inflation rate (consumer prices) 2017": { "text": "1.4% (2017 est.)" }, "Inflation rate (consumer prices) 2016": { "text": "-0.3% (2016 est.)" } }, "Credit ratings": { "Moody's rating": { "text": "Ba2 (2020)" }, "Standard & Poors rating": { "text": "BB- (2020)" } }, "Real GDP (purchasing power parity)": { "Real GDP (purchasing power parity) 2019": { "text": "$14.45 billion (2019 est.)" }, "Real GDP (purchasing power parity) 2018": { "text": "$14.276 billion (2018 est.)" }, "Real GDP (purchasing power parity) 2017": { "text": "$13.856 billion (2017 est.)" }, "note": "note: data are in 2017 dollars
" }, "GDP (official exchange rate)": { "text": "$12.16 billion (2017 est.)" }, "Real GDP per capita": { "Real GDP per capita 2019": { "text": "$37,101 (2019 est.)" }, "Real GDP per capita 2018": { "text": "$37,020 (2018 est.)" }, "Real GDP per capita 2017": { "text": "$36,297 (2017 est.)" }, "note": "note: data are in 2017 dollars
" }, "Gross national saving": { "Gross national saving 2017": { "text": "11.4% of GDP (2017 est.)" }, "Gross national saving 2016": { "text": "18.2% of GDP (2016 est.)" }, "Gross national saving 2015": { "text": "12.3% of GDP (2015 est.)" } }, "GDP - composition, by sector of origin": { "agriculture": { "text": "2.3% (2017 est.)" }, "industry": { "text": "7.7% (2017 est.)" }, "services": { "text": "90% (2017 est.)" } }, "GDP - composition, by end use": { "household consumption": { "text": "68% (2017 est.)" }, "government consumption": { "text": "13% (2017 est.)" }, "investment in fixed capital": { "text": "26.3% (2017 est.)" }, "investment in inventories": { "text": "0.7% (2017 est.)" }, "exports of goods and services": { "text": "33.7% (2017 est.)" }, "imports of goods and services": { "text": "-41.8% (2017 est.)" } }, "Ease of Doing Business Index scores": { "Overall Ease of Doing Business score 2020": { "text": "59.1 (2020)" } }, "Agricultural products": { "text": "sugar cane, grapefruit, vegetables, bananas, tomatoes, poultry, tropical fruit, oranges, coconuts, mangoes/guavas" }, "Industries": { "text": "tourism, banking, oil bunkering, maritime industries, transshipment and logistics, salt, aragonite, pharmaceuticals" }, "Industrial production growth rate": { "text": "5.8% (2017 est.)" }, "Labor force": { "text": "196,900 (2013 est.)" }, "Labor force - by occupation": { "agriculture": { "text": "3%" }, "industry": { "text": "11%" }, "services": { "text": "49%" }, "tourism": { "text": "37% (2011 est.)" } }, "Unemployment rate": { "Unemployment rate 2017": { "text": "10.1% (2017 est.)" }, "Unemployment rate 2016": { "text": "12.2% (2016 est.)" } }, "Population below poverty line": { "text": "9.3% (2010 est.)" }, "Household income or consumption by percentage share": { "lowest 10%": { "text": "1%" }, "highest 10%": { "text": "22% (2007 est.)" } }, "Budget": { "revenues": { "text": "2.139 billion (2017 est.)" }, "expenditures": { "text": "2.46 billion (2017 est.)" } }, "Taxes and other revenues": { "text": "17.6% (of GDP) (2017 est.)" }, "Budget surplus (+) or deficit (-)": { "text": "-2.6% (of GDP) (2017 est.)" }, "Public debt": { "Public debt 2017": { "text": "54.6% of GDP (2017 est.)" }, "Public debt 2016": { "text": "50.5% of GDP (2016 est.)" } }, "Fiscal year": { "text": "1 July - 30 June" }, "Current account balance": { "Current account balance 2017": { "text": "-$1.909 billion (2017 est.)" }, "Current account balance 2016": { "text": "-$868 million (2016 est.)" } }, "Exports": { "Exports 2017": { "text": "$550 million (2017 est.)" }, "Exports 2016": { "text": "$444.3 million (2016 est.)" } }, "Exports - partners": { "text": "US 63.9%, Namibia 19.3% (2017)" }, "Exports - commodities": { "text": "Rock lobster, aragonite, crude salt, polystyrene products" }, "Imports": { "Imports 2017": { "text": "$3.18 billion (2017 est.)" }, "Imports 2016": { "text": "$2.594 billion (2016 est.)" } }, "Imports - partners": { "text": "US 83.2% (2017)" }, "Imports - commodities": { "text": "machinery and transport equipment, manufactures, chemicals, mineral fuels; food and live animals" }, "Reserves of foreign exchange and gold": { "Reserves of foreign exchange and gold 31 December 2017": { "text": "$1.522 billion (31 December 2017 est.)" }, "Reserves of foreign exchange and gold 31 December 2016": { "text": "$1.002 billion (31 December 2016 est.)" } }, "Debt - external": { "Debt - external 31 December 2013": { "text": "$17.56 billion (31 December 2013 est.)" }, "Debt - external 31 December 2012": { "text": "$16.35 billion (31 December 2012 est.)" } }, "Exchange rates": { "currency": { "text": "Bahamian dollars (BSD) per US dollar -" }, "Exchange rates 2017": { "text": "1 (2017 est.)" }, "Exchange rates 2016": { "text": "1 (2016 est.)" }, "Exchange rates 2015": { "text": "1 (2015 est.)" }, "Exchange rates 2014": { "text": "1 (2014 est.)" }, "Exchange rates 2013": { "text": "1 (2013 est.)" } } }, "Energy": { "Electricity access": { "electrification - total population": { "text": "100% (2020)" } }, "Electricity - production": { "text": "1.778 billion kWh (2016 est.)" }, "Electricity - consumption": { "text": "1.654 billion kWh (2016 est.)" }, "Electricity - exports": { "text": "0 kWh (2016 est.)" }, "Electricity - imports": { "text": "0 kWh (2016 est.)" }, "Electricity - installed generating capacity": { "text": "577,000 kW (2016 est.)" }, "Electricity - from fossil fuels": { "text": "100% of total installed capacity (2016 est.)" }, "Electricity - from nuclear fuels": { "text": "0% of total installed capacity (2017 est.)" }, "Electricity - from hydroelectric plants": { "text": "0% of total installed capacity (2017 est.)" }, "Electricity - from other renewable sources": { "text": "0% of total installed capacity (2017 est.)" }, "Crude oil - production": { "text": "0 bbl/day (2018 est.)" }, "Crude oil - exports": { "text": "0 bbl/day (2015 est.)" }, "Crude oil - imports": { "text": "0 bbl/day (2015 est.)" }, "Crude oil - proved reserves": { "text": "0 bbl (1 January 2018 est.)" }, "Refined petroleum products - production": { "text": "0 bbl/day (2015 est.)" }, "Refined petroleum products - consumption": { "text": "20,040 bbl/day (2016 est.)" }, "Refined petroleum products - exports": { "text": "0 bbl/day (2015 est.)" }, "Refined petroleum products - imports": { "text": "19,150 bbl/day (2015 est.)" }, "Natural gas - production": { "text": "0 cu m (2017 est.)" }, "Natural gas - consumption": { "text": "48,020 cu m (2017 est.)" }, "Natural gas - exports": { "text": "0 cu m (2017 est.)" }, "Natural gas - imports": { "text": "48,020 cu m (2017 est.)" }, "Natural gas - proved reserves": { "text": "0 cu m (1 January 2009 est.)" }, "Carbon dioxide emissions from consumption of energy": { "text": "3.089 million Mt (2017 est.)" } }, "Communications": { "Telephones - fixed lines": { "total subscriptions": { "text": "78,439" }, "subscriptions per 100 inhabitants": { "text": "23.4 (2019 est.)" } }, "Telephones - mobile cellular": { "total subscriptions": { "text": "366,217" }, "subscriptions per 100 inhabitants": { "text": "109.25 (2019 est.)" } }, "Telecommunication systems": { "general assessment": { "text": "the telecom sector across the Caribbean continues to be a growth area, contributing to the country's overall GDP; totally automatic system; highly developed; operators focus investment on mobile networks; the activation of (mobile number portability) MNP in April 2017, allowing mobile subscribers to port their numbers between competing MNO (mobile network operators) has contributed to the competition and liberalization of the market (2020)" }, "domestic": { "text": "23 per 100 fixed-line, 109 per 100 mobile-cellular (2019)" }, "international": { "text": "country code - 1-242; landing points for the ARCOS-1, BICS, Bahamas 2-US, and BDSN fiber-optic submarine cables that provide links to South and Central America, parts of the Caribbean, and the US; satellite earth stations - 2; the Bahamas Domestic Submarine Network links all of the major islands; (2019)" }, "note": "disagrees with the US on the alignment of the northern axis of a potential maritime boundary
" }, "Illicit drugs": { "text": "transshipment point for cocaine and marijuana bound for US and Europe; offshore financial center" } } }