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Data derived from World Economic Outlook Database. To see main macroeconomic indicator in graphs click here
Lucayan Indians inhabited the Bahama islands when Christopher COLUMBUS first set foot in the New World 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 gaining 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 is only 80 km (50 mi) from Florida -- the country is a major transshipment point for illicit trafficking to the US mainland, as well as to Europe. US law enforcement agencies cooperate closely with The Bahamas; the Drug Enforcement Administration, US Coast Guard, and US Customs and Border Protection assist Bahamian authorities with maritime security and law enforcement through Operation Bahamas, Turks and Caicos, or OPBAT.
Area: 13,880 sq km km2
Climate: tropical marine; moderated by warm waters of Gulf Stream
Natural resources: salt, aragonite, timber, arable land
Groups: African descent 90.6%, White 4.7%, mixed 2.1%, other 1.9%, unspecified 0.7% (2010 est.)
Languages:
Religions: Protestant 69.9% (includes Baptist 34.9%, Anglican 13.7%, Pentecostal 8.9% Seventh Day Adventist 4.4%, Methodist 3.6%, Church of God 1.9%, Plymouth Brethren 1.6%, other Protestant 0.9%), Roman Catholic 12%, other Christian 13% (includes Jehovah's Witness 1.1%), other 0.6%, none 1.9%, unspecified 2.6% (2010 est.)
Capital: Nassau
Government type: parliamentary democracy under a constitutional monarchy; a Commonwealth realm
Chief of state: King CHARLES III (since 8 September 2022); represented by Governor-General Cynthia A. PRATT (since 1 September 2023)
Head of government: Prime Minister Philip Edward DAVIS (since 17 September 2021)
Description: Parliament - bicameral
high-income tourism and financial services economy; major income inequality; strong US bilateral relations; several tax relief programs; targeted investment in agriculture, energy, light manufacturing, and technology industries
tourism, banking, oil bunkering, maritime industries, transshipment and logistics, salt, aragonite, pharmaceuticals
GDP by sector: Agriculture: 0.5% (2024 est.), Industry: 9.6% (2024 est.), Services: 77.2% (2024 est.)
Export partners: USA 36%, Zimbabwe 16%, Cote d'Ivoire 14%, Germany 8%, Guyana 8% (2023)
Export commodities: refined petroleum, ships, aluminum, shellfish, plastics (2023)
Import partners: USA 60%, Germany 13%, China 5%, Japan 3%, Brazil 2% (2023)
Import commodities: refined petroleum, ships, aircraft, cars, crude petroleum (2023)
chain of islands in the North Atlantic Ocean, southeast of Florida, northeast of Cuba; note - although The Bahamas does not border the Caribbean Sea, geopolitically it is often designated as a Caribbean nation
Military expenditure: 2024: 0.7% of GDP (2024 est.)
Information derived from worldfactbook.io (Lupon Media), open successor to the CIA World Factbook. Data sourced from World Bank, IMF, UN and other international organizations.