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NAVIGATION
Commonwealth of The Bahamas
GOVERNMENT
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Country name:
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conventional long form: Commonwealth of The Bahamas
conventional short form: The Bahamas |
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Government type:
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constitutional parliamentary democracy |
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Capital:
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Nassau |
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Administrative divisions:
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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, Nichollstown and Berry Islands, Ragged Island, Rock Sound, Sandy Point, San Salvador and Rum Cay |
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Independence:
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10 July 1973 (from UK) |
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National holiday:
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Independence Day, 10 July (1973) |
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Constitution:
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10 July 1973 |
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Legal system:
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based on English common law |
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Suffrage:
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18 years of age; universal |
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Executive branch:
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chief of state: Queen ELIZABETH II (since 6 February 1952), represented by Governor General Ivy DUMONT (since NA May 2002)
head of government: Prime Minister Perry CHRISTIE (since 3 May 2002) and Deputy Prime Minister Cynthia PRATT (since 7 May 2002) 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; 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 |
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Legislative branch:
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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 1 May 2002 (next to be held by May 2007) election results: percent of vote by party - PLP 50.8%, FNM 41.1%, independents 5.2%; seats by party - PLP 29, FNM 7, independents 4 |
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Judicial branch:
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Supreme Court; Court of Appeal; magistrates courts |
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Political parties and leaders:
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Free National Movement or FNM [Tommy TURNQUEST]; Progressive Liberal Party or PLP [Perry CHRISTIE] |
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Political pressure groups and leaders:
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NA |
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International organization participation:
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ACP, C, Caricom, CCC, CDB, ECLAC, FAO, G-77, IADB, IBRD, ICAO, ICFTU, ICRM, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, ITU, LAES, NAM, OAS, OPANAL, OPCW (signatory), UN, UNCTAD, UNESCO, UNIDO, UPU, WHO, WIPO, WMO, WTrO (observer) |
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Diplomatic representation in the US:
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chief of mission: Ambassador Joshua SEARS
consulate(s) general: Miami and New York FAX: [1] (202) 319-2668 telephone: [1] (202) 319-2660 chancery: 2220 Massachusetts Avenue NW, Washington, DC 20008 |
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Diplomatic representation from the US:
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chief of mission: Ambassador J. Richard BLANKENSHIP
embassy: 42 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 |
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Flag description:
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three equal horizontal bands of aquamarine (top), gold, and aquamarine, with a black equilateral triangle based on the hoist side |
ECONOMY
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Economy - overview:
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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 almost half of the archipelago's labor force. Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences have led to solid GDP growth in recent years. 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 the majority of tourist visitors. |
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GDP:
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purchasing power parity - $5 billion (2001 est.) |
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GDP - real growth rate:
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3.5% (2001) |
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GDP - per capita:
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purchasing power parity - $16,800 (2000 est.) |
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GDP - composition by sector:
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agriculture: 3%
industry: 7% services: 90% (1999 est.) |
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Population below poverty line:
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NA% |
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Household income or consumption by percentage share:
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lowest 10%: NA%
highest 10%: NA% |
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Inflation rate (consumer prices):
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1.5% (2001 est.) |
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Labor force:
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156,000 (1999) |
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Labor force - by occupation:
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tourism 40%, other services 50%, industry 5%, agriculture 5% (1995 est.) |
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Unemployment rate:
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6.9% (2001 est.) |
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Budget:
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revenues: $918.5 million
expenditures: $956.5 million, including capital expenditures of $106.7 million (FY99/00) |
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Industries:
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tourism, banking, cement, oil refining and transshipment, salt, rum, aragonite, pharmaceuticals, spiral-welded steel pipe |
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Industrial production growth rate:
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NA% |
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Electricity - production:
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1.54 billion kWh (2000) |
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Electricity - production by source:
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fossil fuel: 100%
hydro: 0% other: 0% (2000) nuclear: 0% |
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Electricity - consumption:
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1.432 billion kWh (2000) |
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Electricity - exports:
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0 kWh (2000) |
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Electricity - imports:
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0 kWh (2000) |
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Agriculture - products:
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citrus, vegetables; poultry |
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Exports:
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$535.8 million (2000) |
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Exports - commodities:
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fish and crawfish; rum, salt, chemicals; fruit and vegetables (1999) |
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Exports - partners:
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US 28.2%, France 16.5%, Germany 14.1%, UK 12.4% (2000) |
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Imports:
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$1.88 billion (2000) |
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Imports - commodities:
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machinery and transport equipment, manufactures, chemicals, mineral fuels; food and live animals (1999) |
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Imports - partners:
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US 31.6%, South Korea 18.2%, Italy 17.4%, Japan 5.8% (2000) |
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Debt - external:
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$381.9 million (2000) |
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Economic aid - recipient:
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$9.8 million (1995) |
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Currency:
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Bahamian dollar (BSD) |
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Currency code:
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BSD |
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Exchange rates:
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Bahamian dollars per US dollar - 1.000 (fixed rate pegged to the dollar) |
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Fiscal year:
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1 July - 30 June |