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
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 Arthur D. HANNA (since 1 February 2006) head of government: Prime Minister Hubert A. INGRAHAM (since 4 May 2007) cabinet: Cabinet appointed by the governor general on the prime minister's recommendation elections: 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
Legislative branch:
bicameral Parliament consists of the Senate (16 seats; members appointed by the governor general upon the advice of the prime minister and the opposition leader to serve five-year terms) and the House of Assembly (41 seats; members elected by direct popular vote to serve five-year terms); the government may dissolve the Parliament and call elections at any time elections: last held 2 May 2007 (next to be held by May 2012) election results: percent of vote by party - FNM 49.86%, PLP 47.02%; seats by party - FNM 23, PLP 18
Judicial branch:
Privy Council in London; Courts of Appeal; Supreme (lower) Court;
Magistrates' Courts
Political parties and leaders:
Free National Movement or FNM [Hubert INGRAHAM]; Progressive Liberal
Party or PLP [Perry CHRISTIE]
Political pressure groups and leaders:
Friends of the Environment other: trade unions
International organization participation:
ACP, C, Caricom, CDB, FAO, G-77, IADB, IBRD, ICAO, ICCt (signatory),
ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol,
IOC, IOM, ITSO, ITU, LAES, MIGA, NAM, OAS, OPANAL, OPCW (signatory),
UN, UNCTAD, UNESCO, UNIDO, UNWTO, UPU, WCO, WFTU, WHO, WIPO, WMO,
WTO (observer)
Diplomatic representation in the US:
chief of mission: Ambassador Cornelius A. SMITH chancery: 2220 Massachusetts Avenue NW, Washington, DC 20008 telephone: [1] (202) 319–2660 FAX: [1] (202) 319–2668 consulate(s) general: Miami, New York
Diplomatic representation from the US:
chief of mission: Ambassador Ned L. SIEGEL embassy: 42 Queen Street, Nassau, New Providence mailing address: local or express mail address: P. O. Box N-8197, Nassau; US Department of State, 3370 Nassau Place, Washington, DC 20521–3370 telephone: [1] (242) 322–1181, 328–2206 (after hours) FAX: [1] (242) 328–2206
Flag description:
three equal horizontal bands of aquamarine (top), gold, and aquamarine, with a black equilateral triangle based on the hoist side
Economy
Bahamas, The
Economy - overview:
The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 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 tourist arrivals have been on the decline since 2006. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 36% of GDP. However, since December 2000, when the government enacted new regulations on the financial sector, many international businesses have left The Bahamas. Manufacturing and agriculture combined 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. Tourism, in turn, depends on growth in the US, the source of more than 80% of the visitors.
GDP (purchasing power parity):
$8.553 billion (2007 est.)
GDP (official exchange rate):
$6.586 billion (2007 est.)
GDP - real growth rate:
2.8% (2007 est.)
GDP - per capita (PPP):
$28,000 (2007 est.)
GDP - composition by sector:
agriculture: 3% industry: 7% services: 90% (2001 est.)
Labor force:
181,900 (2006)
Labor force - by occupation:
agriculture 5%, industry 5%, tourism 50%, other services 40% (2005 est.)
Unemployment rate:
7.6% (2006 est.)
Population below poverty line:
9.3% (2004)
Household income or consumption by percentage share:
lowest 10%: NA% highest 10%: 27% (2000)
Budget:
revenues: $1.03 billion expenditures: $1.03 billion (FY04/05)
Fiscal year:
1 July - 30 June
Inflation rate (consumer prices):
2.4% (2007 est.)
Central bank discount rate:
5.25% (31 December 2007)
Commercial bank prime lending rate:
5.5% (31 December 2007)
Stock of money:
$1.274 billion (31 December 2007)
Stock of quasi money:
$4.324 billion (31 December 2007)
Stock of domestic credit:
$7.395 billion (31 December 2007)
Agriculture - products:
citrus, vegetables; poultry
Industries:
tourism, banking, cement, oil transshipment, salt, rum, aragonite, pharmaceuticals, spiral-welded steel pipe
Industrial production growth rate:
NA%
Electricity - production:
2.05 billion kWh (2007 est.)
Electricity - consumption:
1.793 billion kWh (2006 est.)
Electricity - exports:
0 kWh (2007 est.)
Electricity