Capital City: Nassau
Population:  307,451
Official Language: English
Currency: Bahamian Dollar
Exchange rate: US $1 = 1.02 Bahamian Dollars

The Country

The Bahamas is an archipelago of 700 islands and 2000 cays. At its closest point The Bahamas is only 45 miles from the coast of Florida. It received independence from Great Britain in 1973. Most of the population is descended from African slaves many of whom were brought to The Bahamas by British loyalists who left the United States after the Revolutionary War. Most of the population resides on the island of New Providence, where Nassau is located, and in Freeport on the island of Grand Bahama. Smaller settlements are scattered over the other islands of The Bahamas, known as the “Family Islands”.

The Government

The Bahamas is a politically stable, middle-income, development country. Following general elections in May 2007, The Bahamas experienced a return of power to the Free National Movement party with a 23-18 majority in the House of Assembly.

Trade Highlights

Imports: $2.4 billion (2006)
Imports from the US:  $600 million (2006)
US Imports Market Share:  25%  (2006)

Economic Outlook

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. Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences had led to solid GDP growth in recent years.  Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 36% of GDP.  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.

GDP: $8.33 billion (2007)
GDP growth rate: 3.1% (2007)
Per capita GDP:  $25,000 (2007)

"Your Connection to The Bahamas"

Our Carribean Regional Office in Santo Domingo assists U.S. companies with their business needs in the Bahamas by working with the U.S. Embassy, American Chamber of Commerce and other contacts in-country.  

Please contact Mrs. Maria Elena Portorreal at maria.portorreal@N0SPAM.mail.doc.gov to learn how we can help your company enter or expand into this market.