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The Bahamas Economy 1996
The Bahamas is a stable, 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.
GDP - purchasing power parity - $4.4 billion (1994 est.)
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National product real growth rate:
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National product per capita:
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Inflation rate (consumer prices):
$756 million, including capital expenditures of $NA (FY94/95)
$257 million (f.o.b., 1993 est.)
pharmaceuticals, cement, rum, crawfish, refined petroleum products
US 51%, UK 7%, Norway 7%, France 6%, Italy 5%
$1.15 billion (f.o.b,,1993 est.)
foodstuffs, manufactured goods, crude oil, vehicles, electronics
US 55%, Japan 17%, Nigeria 12%, Denmark 7%, Norway 6%
$455 million (December 1993)
growth rate 3% (1990); accounts for 15% of GDP
tourism, banking, cement, oil refining and transshipment, salt production,
rum, aragonite, pharmaceuticals, spiral welded steel pipe
accounts for 5% of GDP; dominated by small-scale producers; principal
products - citrus fruit, vegetables, poultry; large net importer of food
transshipment point for cocaine and marijuana bound for US and Europe; also
a money-laundering center
US commitments, including Ex-Im (FY85-89), $1 million; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $345 million
1 Bahamian dollar (B$) = 100 cents
Bahamian dollar (B$) per US$1 - 1.00 (fixed rate)
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