*The Bahamas, Economy
Overview:
The Bahamas is a stable, middle-income, developing nation whose economy is
based primarily on tourism and offshore banking. Tourism alone provides
about 50% of GDP and directly or indirectly employs about 50,000 people or
40% of the local work force. The economy has slackened in recent years, as
the annual increase in the number of tourists slowed. Nonetheless, per
capita GDP is one of the highest in the region.
National product:
GDP - exchange rate conversion - $2.6 billion (1991 est.)
National product real growth rate:
3% (1991)
National product per capita:
$10,200 (1991 est.)
Inflation rate (consumer prices):
7.2% (1991)
Unemployment rate:
16% (1991 est.)
Budget:
revenues $627.5 million; expenditures $727.5 million, including capital
expenditures of $100 million (1992 est.)
Exports:
$306 million (f.o.b., 1991 est.)
commodities:
pharmaceuticals, cement, rum, crawfish
partners:
US 41%, Norway 30%, Denmark 4%
Imports:
$1.14 billion (c.i.f., 1991 est.)
commodities:
foodstuffs, manufactured goods, mineral fuels, crude oil
partners:
US 35%, Nigeria 21%, Japan 13%, Angola 11%
External debt:
$1.2 billion (December 1990)
Industrial production:
growth rate 3% (1990); accounts for 15% of GDP
Electricity:
424,000 kW capacity; 929 million kWh produced, 3,599 kWh per capita (1992)
Industries:
tourism, banking, cement, oil refining and transshipment, salt production,
rum, aragonite, pharmaceuticals, spiral welded steel pipe
Agriculture:
accounts for 5% of GDP; dominated by small-scale producers; principal
products-citrus fruit, vegetables, poultry; large net importer of food
Illicit drugs:
transshipment point for cocaine
Economic aid:
US commitments, including Ex-Im (FY85-89), $1.0 million; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $345 million
Currency: 1 Bahamian dollar (B$) = 100 cents
Exchange rates:
Bahamian dollar (B$) per US$1-1.00 (fixed rate)
Fiscal year:
calendar year
*The Bahamas, Communications
Highways:
2,400 km total; 1,350 km paved, 1,050 km gravel
Ports:
Freeport, Nassau
Merchant marine:
853 ships (1,000 GRT or over) totaling 20,136,078 GRT/33,119,750 DWT;
includes 53 passenger, 18 short-sea passenger, 159 cargo, 40
roll-on/roll-off cargo, 48 container, 6 vehicle carrier, 181 oil tanker, 14
liquefied gas, 22 combination ore/oil, 43 chemical tanker, 1 specialized
tanker, 159 bulk, 7 combination bulk, 102 refrigerated cargo; note-a flag of
convenience registry
Airports:
total:
60
usable:
55
with permanent-surface runways:
31
with runways over 3,659 m:
0
with runways 2,440-3, 659 m:
3
with runways 1,220-2,439 m:
26
Telecommunications:
highly developed; 99,000 telephones in totally automatic system;
tropospheric scatter and submarine cable links to Florida; broadcast
stations-3 AM, 2 FM, 1 TV; 3 coaxial submarine cables; 1 Atlantic Ocean
INTELSAT earth station
*The Bahamas, Defense Forces
Branches:
Royal Bahamas Defense Force (Coast Guard only), Royal Bahamas Police Force
Manpower availability:
males age 15-49 68,020; fit for military service NA (1993 est.)
Defense expenditures:
exchange rate conversion-$65 million, 2.7% of GDP (1990)
*Bahrain, Geography
Location: Middle East, in the central Persian Gulf, between Saudi Arabia and Qatar
Map references:
Africa, Middle East, Standard Time Zones of the World
Area:
total area:
620 km2
land area:
620 km2
comparative area:
slightly less than 3.5 times the size of Washington, DC
Land boundaries:
0 km
Coastline:
161 km
Maritime claims:
contiguous zone:
24 nm
continental shelf:
not specified
territorial sea:
12 nm
International disputes:
territorial dispute with Qatar over the Hawar Islands; maritime boundary
with Qatar
Climate:
arid; mild, pleasant winters; very hot, humid summers
Terrain:
mostly low desert plain rising gently to low central escarpment
Natural resources:
oil, associated and nonassociated natural gas, fish
Land use:
arable land:
2%
permanent crops:
2%
meadows and pastures:
6%
forest and woodland:
0%
other:
90%
Irrigated land:
10 km2 (1989 est.)
Environment:
subsurface water sources being rapidly depleted (requires development of
desalination facilities); dust storms; desertification
Note:
close to primary Middle Eastern petroleum sources; strategic location in
Persian Gulf through which much of Western world's petroleum must transit to
reach open ocean
*Bahrain, People
Population: 568,471 (July 1993 est.)
Population growth rate:
3.01% (1993 est.)
Birth rate:
26.89 births/1,000 population (1993 est.)
Death rate:
3.87 deaths/1,000 population (1993 est.)
Net migration rate:
7.04 migrant(s)/1,000 population (1993 est.)
Infant mortality rate:
20.1 deaths/1,000 live births (1993 est.)
Life expectancy at birth:
total population:
73.12 years
male:
70.72 years
female:
75.63 years (1993 est.)
Total fertility rate:
3.99 children born/woman (1993 est.)
Nationality:
noun:
Bahraini(s)
adjective:
Bahraini
Ethnic divisions:
Bahraini 63%, Asian 13%, other Arab 10%, Iranian 8%, other 6%
Religions:
Shi'a Muslim 70%, Sunni Muslim 30%
Languages:
Arabic, English, Farsi, Urdu
Literacy:
age 15 and over can read and write (1990)
total population:
77%
male:
82%
female:
69%
Labor force:
140,000
by occupation:
industry and commerce 85%, agriculture 5%, services 5%, government 3% (1982)
note:
42% of labor force is Bahraini