The Bahamas

  • Area: 13,878 square kilometres
  • Currency: Bahamian dollar made up of 100 cents. $1 = B$1 (fixed)
  • Official language: EnglishPopulation: 342,000
  • Head of State or Government:Perry Gladstone Christie (Prime Minister) 2008
  • GDP: $7.56 billion
  • GDP per capita: $21,307
  • GDP growth: 0.88%
  • Inflation: 3.28%

The Commonwealth of The Bahamas is a chain of approximately 700 islands and over 2,000 cays and rocks stretching from the east coast of Florida to just north of Cuba and Haiti. The principal islands are New Providence (where the capital Nassau is located), Grand Bahama, Andros, Eleuthera Abaco, and Exuma.

Tourism and Financial Services are the most important economic activities. Nearly 50 per cent of The Bahamas’ Gross Domestic Product (GDP) is derived from Tourism. New investments in hotels, resorts and developments range from billion-dollar mega projects on New Providence to distinctive communities in the Family Islands. As an attractive locale for offshore banking and investment, the Financial Services Industry constitutes the second most important sector of the economy accounting for up to 15 percent of GDP. Agriculture and Fisheries account for less than 5 per cent of GDP.  

The construction Industry accounts for 10 per cent of GDP.  Mineral resources are salt and aragonite. Additionally, the Country produces some chemicals and pharmaceuticals for export, along with rum and industrial salt.