|
Red
Sea Management provides Bahamas offshore incorporation, Bahamas offshore asset protection and a full range of services.
Articles regarding Bahamas:
|
|
Report on Bahamas
|
|
|
| Background:
|
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 its territory is used for
smuggling illegal migrants into 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: |
total: 13,940 sq km
land: 10,070 sq km
water: 3,870 sq km
|
| Area -
comparative:
|
slightly smaller
than Connecticut
|
| Land
boundaries: total:
|
0 km
|
|
Coastline:
|
3,542 km
|
| Maritime
claims:
|
continental
shelf: 200-m depth or to the depth of exploitation
exclusive economic zone: 200 NM
territorial sea: 12 NM
|
| Climate:
|
tropical marine;
moderated by warm waters of Gulf Stream
|
| Terrain:
|
long, flat coral
formations with some low rounded hills
|
| Elevation
extremes:
|
lowest point:
Atlantic Ocean 0 m
highest point: Mount Alvernia, on Cat Island 63 m
|
| Natural
resources:
|
salt, aragonite,
timber, arable land
|
| Land use:
|
arable land:
1%
permanent crops: 0%
permanent pastures: 0%
forests and woodland: 32%
other: 67% (1993 est.)
|
| 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:
|
party to:
Biodiversity, Climate Change, Climate Change-Kyoto Protocol,
Desertification, Endangered Species, Hazardous Wastes, Law of the Sea,
Nuclear Test Ban, Ozone Layer Protection, Ship Pollution, Wetlands
signed, but not ratified: none of the selected agreements
|
| Geography
- note:
|
strategic location
adjacent to US and Cuba; extensive island chain
|
|
|
|
Population: |
297,852
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 and death rates,
lower population and growth rates, and changes in the distribution
of population by age and sex than would otherwise be expected (July
2001 est.)
|
| Age
structure: |
0-14 years:
29.43% (male 44,179; female 43,486)
15-64 years: 64.46% (male 94,329; female 97,674)
65 years and over: 6.11% (male 7,618; female 10,566) (2001 est.) |
|
Population growth rate:
|
0.93% (2001 est.)
|
| Birth
rate: |
19.1 births/1,000
population (2001 est.)
|
| Death
rate: |
7.14 deaths/1,000
population (2001 est.)
|
| Net
migration rate: |
-2.65 migrant(s)/1,000
population (2001 est.)
|
| Sex
ratio: |
at birth:
1.02 male(s)/female
under 15 years: 1.02 male(s)/female
15-64 years: 0.97 male(s)/female
65 years and over: 0.72 male(s)/female
total population: 0.96 male(s)/female (2001 est.)
|
| Infant
mortality rate: |
17.03
deaths/1,000 live births (2001 est.)
|
| Life
expectancy at birth: |
total population:
70.46 years
male: 67.27 years
female: 73.71 years (2001 est.)
|
| Total
fertility rate: |
2.3 children
born/woman (2001 est.)
|
| HIV/AIDS
- adult prevalence rate: |
4.13% (1999 est.)
|
| HIV/AIDS
- people living with HIV/AIDS: |
6,900 (1999 est.)
|
| HIV/AIDS
- deaths:
|
500 (1999 est.)
|
|
Nationality: |
noun:
Bahamian(s)
adjective: Bahamian
|
| 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: |
definition:
age 15 and over can read and write
total population: 98.2%
male: 98.5%
female: 98% (1995 est.) |
|
|
| Country
name:
|
conventional long
form: Commonwealth of The Bahamas
conventional short form: The Bahamas
|
|
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: |
Independence Day,
10 July (1973)
|
|
Constitution:
|
10 July 1973
|
| Legal
system: |
based on English
common law
|
| Suffrage:
|
18 years of age;
universal
|
|
Executive branch:
|
chief of state:
Queen ELIZABETH II (since 6 February 1952), represented by Governor
General Sir Orville TURNQUEST (since 2 January 1995)
head of government: Prime Minister Hubert Alexander INGRAHAM
(since 19 August 1992) and Deputy Prime Minister Frank WATSON (since
December 1994)
cabinet: Cabinet appointed by the governor general on the prime
minister's recommendation
elections: none; the monarch is hereditary; governor general
appointed by the monarch; prime minister and deputy prime minister
appointed by the governor general |
|
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 five-year terms) and the House of Assembly (40
seats; members elected by direct popular vote to serve five-year
terms)
elections: last held 14 March 1997 (next to be held by March
2002)
election results: percent of vote by party - NA%; seats by party
- FNM 35, PLP 5
|
| Judicial
branch:
|
Supreme
Court; Court of Appeal; magistrates courts
|
| Political
parties and leaders:
|
Free National
Movement or FNM [Hubert Alexander INGRAHAM]; Progressive Liberal Party
or PLP [Perry CHRISTIE]
|
| Political
pressure groups and leaders: |
NA
|
|
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 (signatory), UN, UNCTAD, UNESCO, UNIDO, UPU, WHO, WIPO,
WMO, WTrO (observer)
|
|
Diplomatic representation in the US: |
chief of mission:
Ambassador Joshua SEARS
chancery: 2220 Massachusetts Avenue NW, Washington, DC 20008
telephone: [1] (202) 319-2660
FAX: [1] (202) 319-2668
consulate(s) general: Miami and New York |
|
Diplomatic representation from the US: |
chief of mission:
Ambassador (vacant); Charge d'Affaires Daniel A. CLUNE
embassy: Queen Street, Nassau
mailing address: local or express mail address: P. O. Box
N-8197, Nassau; stateside address: American Embassy Nassau, P. O. Box
599009, Miami, FL 33159-9009; pouch address: Nassau, Department of
State, Washington, DC 20521-3370
telephone: [1] (242) 322-1181, 328-2206
FAX: [1] (242) 356-0222
|
| 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, 6% in 1999, and 4.5% in
2000. Manufacturing and agriculture together contribute only 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 sturdy
growth in the US, which accounts for the majority of tourist visitors. |
| GDP:
|
purchasing power
parity - $4.5 billion (2000 est.)
|
| GDP -
real growth rate: |
4.5% (2000 est.)
|
| GDP - per
capita: |
purchasing power
parity - $15,000 (2000 est.)
|
| GDP -
composition by sector: |
agriculture:
3%
industry: 7%
services: 90% (1999 est.)
|
|
Population below poverty line: |
NA%
|
| Household
income or consumption by percentage share: |
lowest 10%:
NA%
highest 10%: NA%
|
| Inflation
rate (consumer prices): |
1.9% (2000 est.)
|
| Labor
force: |
156,000 (1999)
|
| Labor
force - by occupation:
|
tourism 40%,
other services 50%, industry 5%, agriculture 5% (1995 est.)
|
|
Unemployment rate: |
9% (1998 est.)
|
| Budget:
|
revenues:
$766 million
expenditures: $845 million, including capital expenditures of
$97 million (FY97/98)
|
|
Industries: |
tourism, banking,
cement, oil refining and transshipment, salt, rum, aragonite,
pharmaceuticals, spiral-welded steel pipe
|
|
Industrial production growth rate:
|
NA%
|
| Electricity
- production:
|
1.465 billion kWh
(1999)
|
|
Electricity - production by source:
|
fossil fuel:
100%
hydro: 0%
nuclear: 0%
other: 0% (1999)
|
|
Electricity - consumption:
|
1.362 billion kWh
(1999)
|
|
Electricity - exports: |
0 kWh (1999)
|
|
Electricity - imports: |
0 kWh (1999)
|
|
Agriculture - products:
|
citrus, vegetables;
poultry
|
| Exports: |
$376.8 million
(2000 est.)
|
| Exports -
commodities: |
pharmaceuticals,
cement, rum, crawfish, refined petroleum products
|
| Exports -
partners: |
US 22.3%,
Switzerland 15.6%, UK 15%, Denmark 7.4% (1998)
|
| Imports: |
$1.73 billion
(2000 est.)
|
| 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: |
$385.8 million
(2000 est.)
|
| Economic
aid - recipient: |
$9.8 million
(1995)
|
| Currency:
|
Bahamian dollar (BSD)
|
| Currency
code: |
BSD
|
| Exchange
rates:
|
Bahamian dollars
per US dollar - 1.000 (fixed rate pegged to the dollar)
|
| Fiscal
year: |
1 July - 30 June
|
|
|
|
Telephones - main lines in use:
|
96,000 (1997)
|
|
Telephones - mobile cellular: |
6,152 (1997)
|
|
Telephone system: |
general assessment:
modern facilities
domestic: totally automatic system; highly developed
international: tropospheric scatter and submarine cable to
Florida; 3 coaxial submarine cables; satellite earth station - 1
Intelsat (Atlantic Ocean) (1997)
|
| Radio
broadcast stations: |
AM 3, FM 4,
shortwave 0 (1998)
|
| Radios: |
215,000 (1997)
|
|
Television broadcast stations: |
1 (1997)
|
|
Televisions: |
67,000 (1997)
|
| Internet
country code: |
.bs
|
| Internet
Service Providers (ISPs): |
19 (2000)
|
| Internet
users: |
15,000 (2000)
|
|
|
| Railways:
|
0 km
|
| Highways: |
total:
2,693 km
paved: 1,546 km
unpaved: 1,147 km (1997)
|
|
Waterways: |
none
|
| Ports and
harbors: |
Freeport, Matthew
Town, Nassau
|
| Merchant
marine: |
total:
1,049 ships (1,000 GRT or over) totaling 30,000,221 GRT/44,601,471
DWT
ships by type: bulk 185, cargo 214, chemical tanker 36,
combination bulk 15, combination ore/oil 22, container 66, liquefied
gas 33, livestock carrier 1, multi-functional large-load carrier 4,
passenger 79, passenger/cargo 1, petroleum tanker 182, railcar
carrier 1, refrigerated cargo 118, roll on/roll off 50, short-sea
passenger 15, specialized tanker 3, vehicle carrier 24
note: includes some foreign-owned ships registered here as a
flag of convenience: Algeria 2, Australia 1, Austria 1, Bermuda 6,
Belgium 14, Canada 1, Cuba 1, Cyprus 2, Denmark 17, Finland 7,
France 9, Germany 9, Greece 89, Hong Kong 7, Indonesia 2, India 1,
Israel 4, Italy 8, Japan 23, Jamaica 1, Kenya 1, Lebanon 2,
Luxembourg 2, Monaco 15, Malaysia 1, Netherlands 16, Norway 139,
Poland 3, Portugal 2, Russia 2, Saudi Arabia 5, Singapore 12, Spain
7, Sweden 14, Syria 1, Switzerland 7, UAE 1, Trinidad and Tobago 2,
UK 67, Ukraine 3, US 50, British Virgin Islands 1, British Virgin
Islands 1 (2000 est.)
|
| Airports: |
65 (2000 est.)
|
| Airports -
with paved runways: |
total: 36
over 3,047 m: 2
2,438 to 3,047 m: 2
1,524 to 2,437 m: 16
914 to 1,523 m: 13
under 914 m: 3 (2000 est.)
|
| Airports -
with unpaved runways: |
total: 29
914 to 1,523 m: 6
under 914 m: 23 (2000 est.)
|
| Heliports: |
1 (2000 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 |
