Diplomatic representation in the US: chief of mission: Ambassador Arlington Griffith BUTLER chancery: 2220 Massachusetts Avenue NW, Washington, DC 20008 consulate(s) general: Miami and New York
Diplomatic representation from the US: chief of mission: Ambassador Arthur SCHECHTER embassy: 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
Flag description: three equal horizontal bands of aquamarine (top), gold, and aquamarine, with a black equilateral triangle based on the hoist side
Economy
Economy—overview: 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 40% of the archipelago's labor force. Moderate growth in tourism receipts and a boom in construction of new hotels, resorts, and residences led to an increase of the country's GDP by an estimated 4% in 1998. Manufacturing and agriculture together contribute less than 10% of GDP and show little growth, despite government incentives aimed at those sectors. Overall growth prospects in the short run will depend heavily on the fortunes of the tourism sector and continued income growth in the US, which accounts for the majority of tourist visitors.
GDP: purchasing power parity—$5.63 billion (1998 est.)
GDP—real growth rate: 4% (1998 est.)
GDP—per capita: purchasing power parity?$20,100 (1998 est.)
GDP—composition by sector: agriculture: 3% industry: 5% services: 92% (1997 est.)
Population below poverty line: NA%