International Trade in the Bahamas

International Trade in Bahamas

The financial crisis and the recession have had a strong impact on the Bahamian economy, which is based on financial activities and tourism, while the latter is highly dependent on the economic conditions of the United States, thus leading to a drop in GDP of 4.3% in 2009. The country's... Read more

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Market Analyses About the Bahamas (10)

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    J R Rosas Law Firm - Bahamas

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    Distributors, the Bahamas

    WE PURCHASE GOODS BASED ON OUR CUSTOMERS NEEDS. WE CONSOLIDATE THEIR ORDER AND SHIP OUT ACCORDING TO URGENCY -COURIER, AIR OR OCEAN...

Overview About International Trade in the Bahamas

Economic Overview

The financial crisis and the recession have had a strong impact on the Bahamian economy, which is based on financial activities and tourism, while the latter is highly dependent on the economic conditions of the United States, thus leading to a drop in GDP of 4.3% in 2009. The country's economy was again growing slightly in 2010 (0.5%), thanks to the resumption in tourism and should continue to experience slow growth in the coming years.

The Bahamian economy, which has few natural resources and an under-developed industrial sector, remains very dependent on tourism (60% of GDP) and to a lesser extent, on the financial services industry. The crisis has greatly worsened the fiscal position of the country: the public debt has risen, while the debt/GDP ratio has increased. The government has therefore presented a budget aiming to remedy the situation. Measures have also been taken to strengthen the financial system and improve monitoring. In parallel, the government has initiated significant efforts to improve the basic public services infrastructures (energy, water and transportation) and to support the tourism sector, which is essential to the economy. Numerous real e...

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