Analysis of Agricultural and Fisheries Policy in The Bahamas

Book excerpt: Although agriculture and fisheries account for only 1.6% of the GDP of the Bahamas, they produce 3% of all jobs and are important for the diversification of the economy. The Government of the Bahamas supports agriculture through a combination of value chain development measures, research and extension services, infrastructure development, and border protection. Support to producers averaged 19.08% of gross farm receipts in 2012-2014, and a significant share of support (29%) was provided in the form of transfers to general services. At the same time, total transfers arising from agricultural policy reached only 0.28% of the national GDP. Reducing barriers to trade, reducing regulations and streamlining access to incentives for farmers, and improving information services will help increase the efficiency and competitiveness of the agricultural sector.