Attribute | Value |
---|---|
Geography | |
Area | 13,880 km² |
Continent | North America |
Land area | 10,010 km² |
Water area | 3,870 km² |
Land boundaries | 0 km |
Border countries | Add |
Coastline | 3,542 km |
Mean elevation | Add |
Lowest point | 0 m |
Highest point | 64 m |
People | |
Population | 337,721 |
Official languages |
|
Religion | Protestant |
Government | |
Long country name | Commonwealth of The Bahamas |
Short country name | The Bahamas |
Long local name | Add |
Short local name | Add |
Former name | Add |
Government type | Parliamentary democracy |
Capital | Nassau |
Economy | |
GDP (PPP) | 12,060,000,000 USD |
GDP (OER) | 12,160,000,000 USD |
GDP (real growth rate) | 1.4 % |
GDP - per capita (PPP) | 32,400 USD |
Gross national saving | 11.4 % of GDP |
Labor force | 196,900 |
Unemployment rate | 10.1 % |
Population below poverty line | 9.3 % |
Budget revenues | 2,139,000,000 USD |
Budget expenditures | 2,460,000,000 USD |
Military expenditures | Add |
Taxes and other revenues | 17.6 % of GDP |
Budget surplus or deficit | -2.6 % of GDP |
Public debt | 54.6 % of GDP |
Inflation rate | 1.4 % |
Central bank discount rate | 4.5 % |
Commercial bank prime lending rate | 4.25 % |
Stock of narrow money | 2,654,000,000 USD |
Stock of broad money | 2,654,000,000 USD |
Stock of domestic credit | 8,805,000,000 USD |
Market value of publicly traded shares | 2,780,000,000 USD |
Current account balance | -1,909,000,000 USD |
Exports | 550,000,000 USD |
Imports | 3,180,000,000 USD |
Reserves of foreign exchange and gold | 1,522,000,000 USD |
External debt | 17,560,000,000 USD |
National currency | Bahamian dollars |
National currency (code) | BSD |
National currency (symbol) | $ |
National currency rate to USD | 1 |
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. Piracy thrived in the 17th and 18th centuries because of The Bahamas close proximity to shipping lanes. Since attaining independence from the UK in 1973, The Bahamas has prospered through tourism, international banking, and investment management, which comprise up to 85% of GDP. Because of its proximity to the US - the nearest Bahamian landmass being only 80 km (50 mi) from Florida - the country is a major transshipment point for illicit trafficking, particularly to the US mainland, as well as Europe. US law enforcement agencies cooperate closely with The Bahamas, and the US Coast Guard assists Bahamian authorities in coastal defense through Operation Bahamas, Turks and Caicos, or OPBAT.