The Bahamas, officially the Commonwealth of The Bahamas, is an archipelago within the Lucayan Archipelago of the West Indies. It is a sovereign country within the Caribbean Community (CARICOM) and the North American Trade Agreement (NAFTA). The archipelago consists of over 700 islands, cays, and islets spread over 500,000 square miles of ocean. The population of The Bahamas is estimated to be 395,361, with the majority of the population residing on the island of New Providence.