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The Bahamian economy is almost entirely dependent on tourism and financial services to generate foreign exchange earnings. The Gross Domestic Product (GDP) of the Bahamas is approximately $5.7 billion with tourism accounting for 50%, financial services nearly 20% and the balance spread among retail and wholesale trade, fishing, light manufacturing and agriculture. [9]
The Bahamas is a parliamentary constitutional monarchy headed by King Charles III in his role as King of the Bahamas. The politics of the Bahamas takes place within a framework of parliamentary democracy, with a Prime Minister as the Head of Government. The Bahamas is an Independent Country and a member of the Commonwealth of Nations. As a ...
Its economy is based on tourism and offshore finance. [17] Though the Bahamas is in the Lucayan Archipelago, and not on the Caribbean Sea, it is still considered part of the wider Caribbean region. [18] The Bahamas is a full member of the Caribbean Community (CARICOM) but is not part of the CARICOM Single Market and Economy. [19]
The Ministry of Finance is a government ministry of the Bahamas responsible for the care and management of public finances. The development and management of the annual government budget is a major aspect of the ministry's function. [1] Since 1984, Prime Minister of the Bahamas has mostly held the portfolio of Minister of Finance.
The number of Ministers from the Senate is limited to three. In addition the Prime Minister and the Minister of Finance are required to be members of the House of Assembly. The functions of the Cabinet entail the final determination of government policy, control of government activities and coordination of government Ministries and Departments.
Economy of the Bahamas. Economic rank, by nominal GDP (2007): 132nd (one hundred and thirty second) Agriculture in the Bahamas; Banking in the Bahamas. Banknotes of the Bank of Nassau (Bahamas) Central Bank of The Bahamas; National Bank of the Bahamas; Communications in the Bahamas. Internet in the Bahamas.bs Internet country code top-level ...
Economic history of the Bahamas (1 C) I. Industry in the Bahamas (2 C, 1 P) Infrastructure in the Bahamas (1 C) S. Science and technology in the Bahamas (4 C)
The U.S. and The Bahamian government have worked together on reducing crime and addressing migration issues. With the closest island only 45 miles from the coast of Florida, The Bahamas often is used as a gateway for drugs and illegal aliens bound for the United States. The United States and the Bahamas cooperate to handle these threats. [2]