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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. Since attaining independence from the UK in 1973, The Bahamas have prospered through tourism and international banking and investment management. Because of its geography, the country is a major transshipment point for illegal drugs, particularly shipments to the US and Europe, and its territory is used for smuggling illegal migrants into the US.
party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Ozone Layer Protection, Ship Pollution, Wetlands
signed, but not ratified:
none of the selected agreements
note:estimates for this country explicitly take into account the effects of excess mortality due to AIDS; this can result in lower life expectancy, higher infant mortality, higher death rates, lower population growth rates, and changes in the distribution of population by age and sex than would otherwise be expected (July 2010 est.)
Baptist 35.4%, Anglican 15.1%, Roman Catholic 13.5%, Pentecostal 8.1%, Church of God 4.8%, Methodist 4.2%, other Christian 15.2%, none or unspecified 2.9%, other 0.8% (2000 census)
21 districts; Acklins and Crooked Islands, Bimini, Cat Island, Exuma, Freeport, Fresh Creek, Governor's Harbour, Green Turtle Cay, Harbour Island, High Rock, Inagua, Kemps Bay, Long Island, Marsh Harbour, Mayaguana, New Providence, Nichollstown and Berry Islands, Ragged Island, Rock Sound, Sandy Point, San Salvador, and Rum Cay
elections:
the monarchy is hereditary; governor general appointed by the monarch; following legislative elections, the leader of the majority party or the leader of the majority coalition is usually appointed prime minister by the governor general; the prime minister recommends the deputy prime minister
bicameral Parliament consists of the Senate (16 seats; members appointed by the governor general upon the advice of the prime minister and the opposition leader to serve five-year terms) and the House of Assembly (41 seats; members elected by direct popular vote to serve five-year terms); the government may dissolve the parliament and call elections at any time
elections:
last held on 2 May 2007 (next to be held by May 2012)
election results:
percent of vote by party - FNM 49.86%, PLP 47.02%; seats by party - FNM 23, PLP 18
three equal horizontal bands of aquamarine (top), gold, and aquamarine, with a black equilateral triangle based on the hoist side; the band colors represent the golden beaches of the islands surrounded by the aquamarine sea; black represents the vigor and force of a united people, while the pointing triangle indicates the enterprise and determination of the Bahamian people to develop the rich resources of land and sea
The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Prior to 2006, a steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences led to solid GDP growth but since then tourism receipts have begun to drop off. The global recession in 2009 took a sizeable toll on the Bahamas, resulting in a contraction in GDP and a widening budget deficit. The outlook for 2010 is for slightly positive growth as tourism from the US returns, but sector investment is not expected to substantially increase. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 36% of GDP. However, the financial sector currently is smaller than it has been in the past because of the enactment of new and more strict financial regulations in 2000 that caused many international businesses to relocate elsewhere. Manufacturing and agriculture combined contribute approximately a tenth of GDP and show little growth, despite government incentives aimed at those sectors. Overall growth prospects in the short run rest heavily on the fortunes of the tourism sector.
domestic:
totally automatic system; highly developed; the Bahamas Domestic Submarine Network links 14 of the islands and is designed to satisfy increasing demand for voice and broadband internet services
international:
country code - 1-242; landing point for the Americas Region Caribbean Ring System (ARCOS-1) fiber-optic submarine cable that provides links to South and Central America, parts of the Caribbean, and the US; satellite earth stations - 2 (2007)
by type:
barge carrier 1, bulk carrier 210, cargo 226, carrier 2, chemical tanker 88, combination ore/oil 12, container 65, liquefied gas 77, passenger 109, passenger/cargo 35, petroleum tanker 209, refrigerated cargo 119, roll on/roll off 16, specialized tanker 3, vehicle carrier 51
foreign-owned:
1,150 (Angola 6, Belgium 15, Bermuda 12, Brazil 2, Canada 84, China 10, Croatia 1, Cuba 1, Cyprus 25, Denmark 67, Finland 9, France 30, Germany 44, Greece 209, Hong Kong 30, Iceland 1, Indonesia 2, Ireland 2, Isle of Man 1, Italy 4, Japan 87, Jordan 2, Kenya 1, Malaysia 13, Monaco 15, Montenegro 2, Netherlands 9, Nigeria 2, Norway 189, Poland 17, Russia 4, Saudi Arabia 16, Singapore 17, Slovenia 1, South Africa 1, Spain 14, Sweden 4, Switzerland 1, Thailand 5, Trinidad and Tobago 1, Turkey 8, UAE 23, UK 56, US 106, Venezuela 1)
registered in other countries:
12 (Bolivia 1, Panama 9, Peru 1, Portugal 1) (2008)
disagrees with the US on the alignment the northern axis of a potential maritime boundary; continues to monitor and interdict drug dealers and Haitian and Cuban refugees in Bahamian waters
The online Factbook is updated bi-weekly. ISSN 1553-8133
For additional information on government leaders in selected foreign countries, go to World Leaders.
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