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Exports
The Bahamas is an island country situated in Central America. The country's name comes from the Spanish “baja mar” meaning shallow sea. The Bahamian economy is dependent on trade with the U.S. and most of the tourists that visit the country are from the USA. In addition, 55 % of Bahamian imports come also from the United States. The largest sector in the nation is tourism that accounts for 60 percent of income.
The proximity of the country to major world markets makes it a primary location for the production of items for export. Areas targeted for production for exports comprise agro-products, computers and computer parts, pharmaceuticals, toys, high fashion apparel, data processing goods, etc. It should be noted that there are no controls in The Bahamas exercised over exports. Exported products may be reimported into The Bahamas without payment of customs duty, by providing an appropriate certificate obtained from the Customs Department.
The Bahamas will continue to import a large number of goods to meet consumer demands. This creates great opportunities for international exporters. Top products for export to The Bahamas include data processing equipment, computers and electronic products, hotel and restaurant equipment, auto parts, foodstuff (vegetables and meat products), and baby products.
Would you like to import products or services to the Bahamas? Or are you an exporter interested in the Bahamian market? Export Portal promotes the Bahamian and international businesses to improve the foreign trade. At this export/import platformyou can find selected trading companiesall over the world to ensure that importing in the Bahamas runs smoothly. Find global buyersand explore new markets.
Customs requirements of Bahamas
Bahamas Customs Department Contacts
Website: http://www.bahamas.gov.bs/
Address: Customs House Thompson Blvd. P.O. Box N-155 Nassau N.P. The Bahamas
Telephone: +12423256550
Today the Bahamas aims to reduce its dependence on a single sector and to concentrate on foreign trade. The government is actively pursuing a policy of diversification and liberalization. Nevertheless, custom duties remain very high (60% of the national income). There are no significant barriers to trade in the country. In spite of its high custom duties, complex rules and regulations on imports, the country has a liberal trade policy. Thus there are no significant barriers to trade.
Import Requirements
The Bahamas is a member of the Caribbean Community. Because it is not a signatory to CARIFTA, it does not apply the Common External Tariff for customs duties purposes. The Bahamas aims to reduce its dependence on customs duty and widen its tax base by introducing a consumption-based Value Added Tax on imported goods and services. Customs duties are applied on the CIF value of imported goods and on average is 33% plus a stamp duty of 2% - 7%. Certain items are imported duty-free. The control of imports is exercised by Customs. All permitted goods may be imported without a licence.
Import Procedure
All importers must hold a valid business license issued them by the Ministry of Finance.
The Ministry of Agriculture must issue an import permit for shipments of: live plants and animals, fruits, vegetables, meat and poultry.
The Ministry of Finance issues permits for the importation of: slot machines, trailers and caravans.
The Ministry of Health issues permits for imports of medicine.
The Customs Department issues permits for imports of essential chemicals and precursor chemicals.
The Commissioner of Police issues permits for importations of fireworks, underwater guns, arms and ammunition.
Sources:
https://en.santandertrade.com/international-shipments/bahamas/trade-profile