LORCS, NAM, OAS, OPANAL, UN,
UNCTAD, UNESCO, UNIDO, UPU, WHO, WIPO, WMO

*The Bahamas, Government

Diplomatic representation in US:
chief of mission:
Ambassador Timothy Baswell DONALDSON
chancery:
2220 Massachusetts Avenue NW, Washington, DC 20008
telephone:
(202) 319-2660
consulates general:
Miami and New York
US diplomatic representation:
chief of mission:
Ambassador Chic HECHT
embassy:
Mosmar Building, Queen Street, Nassau
mailing address:
P. O. Box N-8197, Nassau
telephone:
(809) 322-1181 or 328-2206
FAX:
(809) 328-7838
Flag:
three equal horizontal bands of aquamarine (top), gold, and aquamarine with
a black equilateral triangle based on the hoist side

*The Bahamas, Economy

Overview:
The Bahamas is a stable, middle-income, developing nation whose economy is
based primarily on tourism and offshore banking. Tourism alone provides
about 50% of GDP and directly or indirectly employs about 50,000 people or
40% of the local work force. The economy has slackened in recent years, as
the annual increase in the number of tourists slowed. Nonetheless, per
capita GDP is one of the highest in the region.
National product:
GDP - exchange rate conversion - $2.6 billion (1991 est.)
National product real growth rate:
3% (1991)
National product per capita:
$10,200 (1991 est.)
Inflation rate (consumer prices):
7.2% (1991)
Unemployment rate:
16% (1991 est.)
Budget:
revenues $627.5 million; expenditures $727.5 million, including capital
expenditures of $100 million (1992 est.)
Exports:
$306 million (f.o.b., 1991 est.)
commodities:
pharmaceuticals, cement, rum, crawfish
partners:
US 41%, Norway 30%, Denmark 4%
Imports:
$1.14 billion (c.i.f., 1991 est.)
commodities:
foodstuffs, manufactured goods, mineral fuels, crude oil
partners:
US 35%, Nigeria 21%, Japan 13%, Angola 11%
External debt:
$1.2 billion (December 1990)
Industrial production:
growth rate 3% (1990); accounts for 15% of GDP
Electricity:
424,000 kW capacity; 929 million kWh produced, 3,599 kWh per capita (1992)
Industries:
tourism, banking, cement, oil refining and transshipment, salt production,
rum, aragonite, pharmaceuticals, spiral welded steel pipe
Agriculture:
accounts for 5% of GDP; dominated by small-scale producers; principal
products-citrus fruit, vegetables, poultry; large net importer of food
Illicit drugs:
transshipment point for cocai