Economist Intelligence Unit (EIU)
Home >Browse by Country > Bahamas

Welcome to Economist Intelligence Unit (EIU)

The Economist Intelligence Unit provides a constant flow of analysis and forecasts on more than 200 countries and eight key industries. We help executives make informed business decisions through dependable intelligence delivered online.

EIU Bahamas

Overview

The Free National Movement (FNM) government, led by the prime minister, Hubert Ingraham, has a small but workable majority in parliament and is not expected to have difficulty enacting its legislative agenda during its term in office, which is scheduled to run until 2012. The Ingraham administration's success in the outlook period will depend upon its ability to spur economic growth in the wake of a sharp recession in 2009 while maintaining good relations with public-sector workers. Controlling drug-trafficking and illegal immigration from Haiti will remain key to relations with the US, the Bahamas' main trade partner. Following a contraction in growth of 4% in 2009, the Economist Intelligence Unit forecasts a gentle recovery in the second half of 2010, in line with a slow rebound in US economic performance. Growth will again recede in 2011, in line with a weakening trend in the US as the effect of recent monetary and fiscal stimuli wanes. The government will accelerate its capital investment programme in 2010 in the hope of stimulating growth, but this will have negative consequences for already high public-sector debt levels. The current account will remain firmly in deficit following a sharp narrowing in 2009.

Key Reports Available for Bahamas
  • Country Report
  • Country Profile
  • Basic Data

    Land area
    13,939 sq km; comprises 700 islands and more than 2,000 islets (cays), 80 km off the south-eastern coast of Florida
    Population
    304,989 (2000 census)
    Main town
    Nassau (capital), population 212,432 (2000)
    Climate
    Subtropical
    Weather in Nassau (altitude 4 metres)
    Hottest month, August, 24-32°C; coldest months, January and February, 17-25°C (average monthly minimum and maximum); driest month, December, 33 mm average rainfall; wettest month, September, 175 mm average rainfall
    Language
    English
    Measures
    US system
    Currency
    Bahamas dollar (B$)=100 cents; the Bahamas dollar is pegged at parity with the US dollar: B$1:US$1
    Fiscal year
    July-June
    Time
    5 hours behind GMT; 4 hours behind GMT from first Sunday in April to last Sunday in October; the time zone coincides all year round with US Eastern Standard Time
    Public holidays
    January 1st, Good Friday, Easter Monday, Whit Monday (seven weeks after Easter Monday), first Friday in June (Labour Day), July 10th (Independence), first Monday in August (Emancipation Day), October 12th (Discovery Day), December 25th-26th


    Home
    Browse by Country
    Browse by Industry
    Browse by Publication
    Subscriptions
    Search
    My Content
    My Account
    View Cart