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TIEA Ties

The Bahamas signed its seventeenth tax information exchange agreement(TIEA) with the Faroe Islands on March 10, 2010. Located in the Norwegian Sea, the Faroese economy is dependent on fishing which makes the economy vulnerable to price swings, and that sector accounts for about 95 percent of exports and nearly half of that jurisdiction’s gross domestic product(GDP).

Population:

49,267(July 2011 est.)

country comparison to the world: 208

Area:

total: 1,393 sq km

country comparison to the world: 182

land: 1,393 sq km

water: 0 sq km(some lakes and streams)

GDP(purchasing power parity):

$1.582 billion(2008 est.)

country comparison to the world: 191

GDP-per capita(PPP):

$32,800(2008 est.)

country comparison to the world: 42

Imports:

$983 million(2008)

country comparison to the world: 172

Exports:

$848 million(2008)

country comparison to the world: 157

Industries:

fishing, fish processing, small ship repair and refurbishment, handicrafts

Commonwealth of The Bahamas

Population:

310,426(July 2010 est.)

Country comparison to the world: 177

Area:

Total: 13,880 sq km

Country comparison to the world: 160

Land: 10,010 sq km

Water: 3,870 sq km

GDP(Purchasing Power Parity):

$8.791 billion(2009 est.)

Country comparison to the world: 151

Note: Data are in 2009 US dollars

GDP-per capita(PPP):

$28,600(2009 est.)

Country comparison to the world: 47

Exports:

$674 million(2006)

Country comparison to the world: 163

Imports:

$2.401 billion(2006)

Country comparison to the world: 147

Industries:

Tourism, banking, cement, oil transshipment, salt, rum, aragonite, pharmaceuticals, spiral-welded steel pipe

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Closing the register