Queen ELIZABETH II (since 6 February 1952), represented byActing Governor General Sir Clifford DARLING (since 2 January 1992)
Head of Government:
Prime Minister Sir Lynden Oscar PINDLING (since 16 January 1967)
Political parties and leaders:
Progressive Liberal Party (PLP), Sir Lynden O. PINDLING; Free National
Movement (FNM), Hubert Alexander INGRAHAM
Suffrage:
universal at age 18
Elections:
House of Assembly:
last held 19 June 1987 (next to be held by NA June 1992);
results—percent of vote by party NA; seats—(49 total) PLP 32, FNM 17
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Other political or pressure groups:
Vanguard Nationalist and Socialist Party (VNSP), a small leftist party
headed
by Lionel CAREY; Trade Union Congress (TUC), headed by Arlington MILLER
Member of:
ACP, C, CCC, CARICOM, CDB, ECLAC, FAO, G-77, IADB, IBRD, ICAO,
ICFTU, IFC, ILO, IMF, IMO, INTELSAT, INTERPOL, IOC, ITU, LORCS, NAM,
OAS, OPANAL, UN, UNCTAD, UNESCO, UNIDO, UPU, WHO, WIPO, WMO
Diplomatic representation:
Ambassador Margaret E. McDONALD; Chancery at 2220 Massachusetts
Avenue NW, Washington, DC 20008; telephone (202) 319-2660; there are
Bahamian Consulates General in Miami and New York;
:The Bahamas Government
US:
Ambassador Chic HECHT; Embassy at Mosmar Building, Queen Street, Nassau
(mailing address is P. O. Box N-8197, Nassau); telephone (809) 322-1181 or
328-2206; FAX (809) 328-7838
Diplomatic representation:
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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, the per
capita GDP of $9,900 is one of the highest in the region.
GDP:
purchasing power equivalent—$2.5 billion, per capita $9,900; real growth
rate 1.0% (1990 est.)
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Inflation rate (consumer prices):
7.3% (1991 est.)
Unemployment rate:
16.0% (1991)
Budget:
revenues $627.5 million; expenditures $727.5 million, including capital
expenditures of $100 million (1992, projected)
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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;
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:
368,000 kw capacity; 857 million kWh produced 3,339 kWh per capita
(1991)
Industries:
tourism, banking, cement, oil refining and transshipment, salt production,
rum, aragonite, pharmaceuticals, spiral welded steel pipe
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Agriculture:
accounts for less than 5% of GDP; dominated by small-scale producers;
principal products—citrus fruit, vegetables, poultry; large net importer of
food
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Illicit drugs:
transshipment point for cocaine
Economic aid:
US commitments, including Ex-Im (FY85-89), $1.0 million; Western
(non-US) countries, ODA and OOF bilateral commitments (1970-89), $345
million
Currency:
Bahamian dollar (plural—dollars); 1 Bahamian dollar (B$) = 100 cents
Exchange rates:
Bahamian dollar (B$) per US$1—1.00 (fixed rate)
Fiscal year:
