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| Government Type |
constitutional parliamentary democracy |
| Legal System |
based on English common law |
| Currency |
Bahamian dollar (BSD) |
| Economic 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 half of the archipelago's labor force. Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences had led to solid GDP growth in recent years, but the slowdown in the US economy and the attacks of 11 September 2001 held back growth in these sectors in 2002. Manufacturing and agriculture together 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, which depends on growth in the US, the source of most of the visitors. |
| Natural Resources |
salt, aragonite, timber, arable land |
| Primary Industries |
tourism, banking, e-commerce, cement, oil refining and transshipment, salt, rum, aragonite, pharmaceuticals, spiral-welded steel pipe |
| Agricultural Products |
citrus, vegetables; poultry |
| Import Commodities |
machinery and transport equipment, manufactures, chemicals, mineral fuels; food and live animals |
| Export Commodities |
fish and crawfish; rum, salt, chemicals; fruit and vegetables |
| Export Partners |
US 28.2%, France 16.5%, Germany 14.1%, UK 12.9% (2000) |
| AIRPORTS of Bahamas, The |
| Grand Bahama Airport |
International, Position 26°33´31"N, 078°41´44"W, Elevation 2m (6ft) |
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