n US:
chief of mission: Ambassador Timothy Baswell DONALDSON
chancery: 2220 Massachusetts Avenue NW, Washington, DC 20008
telephone: [1] (202) 319-2660
FAX: [1] (202) 319-2668
consulate(s) general: Miami and New York

US diplomatic representation:
chief of mission: Ambassador Sidney WILLIAMS
embassy: Mosmar Building, Queen Street, Nassau
mailing address: P. O. Box N-8197, Nassau; P.O. Box 9009, Miami, FL
33159; Nassau, Department of State, Washington, DC 20521-3370 (pouch)
telephone: [1] (809) 322-1181, 328-2206
FAX: [1] (809) 328-7838

Flag: three equal horizontal bands of aquamarine (top), gold, and
aquamarine with a black equilateral triangle based on the hoist side

Economy
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Economic overview: The Bahamas is a stable, developing nation with
an economy heavily dependent on tourism and offshore banking.
Tourism alone accounts for more than 50% of GDP and directly or
indirectly employs 40% of the archipelago's labor force. A slowdown
in the expansion of the tourism sector - especially stopover travel
from Europe - led to a reduction in the country's GDP growth rate in
1995, down to an estimated 2% from 3.5% in 1994. The construction
sector benefited from hotel rehabilitation and the government's
ongoing housing development program. Earnings from exports of
vegetable and citrus production have been decreasing since 1993 but
are expected to increase in 1996 due to storm damage to crops in
Florida. The overall growth prospects through 1996 will depend
heavily on the fortunes of the tourism sector and continued income
growth in the US, which accounts for the majority of tourist visits.

GDP: purchasing power parity - $4.8 billion (1995 est.)

GDP real growth rate: 2% (1995 est.)

GDP per capita: $18,700 (1995 est.)

GDP composition by sector:
agriculture: 3%
industry: 35%
services: 62% (1994)

Inflation rate (consumer prices): 1.5% (1994)

Labor force: 136,900 (1993)
by occupation: government 30%, tourism 40%, business services 10%,
agriculture 5% (1995 est.)

Unemployment rate: 15% (1995 est.)

Budget:
revenues: $665 million
expenditures: $725 million, including capital expenditures of $94
million (FY95/96 est.)

Industries: tourism, banking, cement, oil refining and
transshipment, salt production, rum, aragonite, pharmaceuticals,
spiral-welded steel pipe

Industrial production growth rate: NA%

Electricity: