Anish DesaiGlobal Economy PowerPoint

Principles of Business

The Exchange Rate for 1 US dollar and 1 Bahaman dollar is the same.

Imports can come from US, South Korea, Japan, Italy, Singapore, Venezuela, and Spain

• machinery and transport equipment• manufactures• chemicals• mineral fuels• food and

Exports can go out to US, Singapore, Spain, Poland, Germany, Guatemala, Switzerland

• mineral products and salt• animal products• rum• chemicals• fruit and vegetables

The type of economy is Constitutional Parliamentary Democracy

Advantages : The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking.

Disadvantages : Since December 2000, when the government enacted new regulations on the financial sector, many international businesses have left The Bahamas. Also tourist arrivals have been on the decline since 2006 and will likely drop even further in 2009

The Current Tax rate of the Bahamas is 15%.

The GDP of the Bahamas is : $6.935 billion

The GDP per capita : $29,900

Unemployment Rate : 7.6%

One major company in the Bahamas is Rum Cay.

They produce rum and export to many countries.

They have been in business for around 100 years.

Grand Bahamas Food Company Ltd exports foods to many countries

They produce many fruits and vegetables

They have been in business for about 20 years

The Bahamian Economy is shrinking

It is feeling some of the same affects as the US did