Data at glance of Bahamas - average on period

variable 1980-1989 1990-1999 2000-2007 2008-2009 2010-2019 2020 2021 2022 2023 2024
real gdp growth 2.86 2.5 1.25 -1.32 -1.46 15.4 10.78 2.64 2.0 1.8
CPI % 5.52 2.49 2.41 1.64 1.44 2.9 5.61 3.06 0.41 0.9
Unemployment rate 11.68 10.82 8.92 14.66 14.26 17.4 10.68 10.17 9.43 9.33
Debt/GDP % 13.22 19.67 21.91 31.99 52.0 99.68 88.64 81.68 78.83 79.39
Current account balance/GDP % -1.45 -0.65 -4.1 -7.99 -13.31 -21.41 -9.38 -7.46 -7.37 -7.82

Data derived from World Economic Outlook Database. To see main macroeconomic indicator in graphs click here

History

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.

Environment

Area: 13,880 km2

Climate: tropical marine; moderated by warm waters of Gulf Stream

Natural resources: salt, aragonite, timber, arable land

Ethnic characteristics

Groups: African descent 90.6%, White 4.7%, mixed 2.1%, other 1.9%, unspecified 0.7% (2010 est.)note: data represent population by racial group

Languages: English (official), Creole (among Haitian immigrants)

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.)

Government

Capital: Nassau

Government type: parliamentary democracy under a constitutional monarchy; a Commonwealth realm

Executive branch

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)cabinet: Cabinet appointed by governor-general on recommendation of prime ministerelection/appointment process: the monarchy is hereditary; governor-general appointed by the monarch on the advice of the prime minister; following legislative elections, the governor-general appoints the leader of the majority party or majority coalition as prime minister; the prime minister recommends the deputy prime minister

Legislative branch

Description: legislature name: Parliamentlegislative structure: bicameralnote: Parliament sits for 5 years from the date of the last general election: the government may dissolve the parliament and call elections at any time

Information derived by "The World Factbook 2021. Washington, DC: Central Intelligence Agency, 2021. https://www.cia.gov/the-world-factbook/"