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Your are here: Country Profile > Bahamas

Key Facts

GDP (ppp) per CAPITA
$21,600 (2006 est.)
Inflation Rate
1.2% (2004)
Population
305,655
Country Risk Ratings
-
Ease of Doing Business
-/178
Global Competitiveness
-/131
 
Embassies of Bahamas
Embassies in Bahamas
 
 
 
 
 
 
 
 
 

Bahamas

Bahamas Flag Bahamas Map 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 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 Europe, and its territory is used for smuggling illegal migrants into the US.

Capital City: Nassau (-5 GMT) 
Chief of State: Queen ELIZABETH II 
Head of Govt.: Prime Minister Hubert A. INGRAHAM 
Currency: Bahamian dollar 
Main Cities: Freeport, Grand Bahama 
Major Languages: English 
Calling Code: 1242 
Voltage: 110/220V 
Stock Exchanges: Bahamas International Securities Exchange 
Primary Religions: Baptist 

Main Airports

Exuma International Airport , Grand Bahama International (FPO), Nassau International (NAS)

U.S. Embassy

42 Queen Street, Nassau
tel. 242-322-1181

Statistics

GDP: purchasing power parity:
$6.098 billion (2005 est.)
GDP - real growth rate:
3.5% (2005 est.)
GDP - per capita: purchasing power parity:
20,200 (2005 est.)
Inflation rate (consumer prices):
1.2% ( 2004)
Labor force:
176,300 (2004)
Exports:
$469.3 million (2004 est.)
Exports - partners:
US 30.8%, Spain 29.5%, Poland 9.2%, Germany 5.5%, Guatemala 4% (2005)
Imports:
$1.82 billion (2004 est.)
Imports - partners:
US 22.7%, South Korea 20.4%, Spain 7.9%, Brazil 7.2%, Italy 6.5%, Germany 5.4% (2005)
Population:
303,770
Population growth rate:
0.64% (2006 est.)
Population Below Poverty Line:
9.3% (2004)
Major Industries:
tourism, banking, cement, oil transshipment, salt, rum, aragonite, pharmaceuticals, spiral-welded steel pipe
Employing Workers: *
Registering Property: *
Enforcing Contracts: *
Closing a Business: *
*2006 World Bank rank out of 175 countries
Starting a Business

The table below shows the number of steps and the amount of time needed to start a business, on average

Indicator Bahamas Region
     

 

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