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World > North America > Saint Vincent and the Grenadines > Economy (Facts)

Saint Vincent and the Grenadines - Economy (Facts)
Economy - overview: Economic growth in this lower-middle-income country hinges upon seasonal variations in the agricultural and tourism sectors. Tropical storms wiped out substantial portions of crops in 1994, 1995, and 2002, and tourism in the Eastern Caribbean suffered low arrivals in the immediate aftermath of 11 September 2001. The islands had more than 160,000 tourist arrivals in 2005, mostly to the Grenadines. Saint Vincent is home to a small offshore banking sector and has moved to adopt international regulatory standards. Saint Vincent is also a producer of marijuana and is being used as a transshipment point for illegal narcotics from South America.
GDP - real growth rate: 4.9% (2005 est.)
GDP (purchasing power parity): $864 million (2006 est.)
GDP (official exchange rate): $428 million (2005)
GDP - per capita (PPP): $3,600 (2005 est.)
GDP - composition by sector: agriculture: 10%
industry: 26%
services: 64% (2001 est.)
Population below poverty line: NA
Household income or consumption by percentage share: lowest 10%: NA
highest 10%: NA
Inflation rate (consumer prices): 1% (2005 est.)
Labor force: 41,680 (1991 est.)
Labor force - by occupation: agriculture: 26%
industry: 17%
services: 57% (1980 est.)
Unemployment rate: 15% (2001 est.)
Budget: revenues: $94.6 million
expenditures: $85.8 million; including capital expenditures of NA (2000 est.)
Industries: food processing, cement, furniture, clothing, starch
Industrial production growth rate: -0.9% (1997 est.)
Electricity - production: 114 million kWh (2004)
Electricity - consumption: 106 million kWh (2004)
Electricity - exports: 0 kWh (2004)
Electricity - imports: 0 kWh (2004)
Oil - production: 0 bbl/day (2004 est.)
Oil - consumption: 1,400 bbl/day (2004 est.)
Oil - exports: NA bbl/day
Oil - imports: NA bbl/day
Oil - proved reserves: 0 bbl
Natural gas - production: 0 cu m (2004 est.)
Agriculture - products: bananas, coconuts, sweet potatoes, spices; small numbers of cattle, sheep, pigs, goats; fish
Exports: $37 million (2004 est.)
Exports - commodities: bananas 39%, eddoes and dasheen (taro), arrowroot starch; tennis racquets
Exports - partners: France 26.3%, Greece 21.3%, Italy 18.9%, Russia 7.2%, UK 6.9% (2006)
Imports: $225 million (2004 est.)
Imports - commodities: foodstuffs, machinery and equipment, chemicals and fertilizers, minerals and fuels
Imports - partners: Singapore 17.5%, Trinidad and Tobago 12.3%, US 11.2%, Italy 11.1%, Spain 9.6%, Turkey 4.6%, Germany 4.4% (2006)
Debt - external: $223 million (2004)
Economic aid - recipient: $10.5 million (1995); note - EU $34.5 million (2004)
Currency: East Caribbean Dollar (XCD)

Current East Caribbean Dollar Exchange Rates
Historical East Caribbean Dollar Exchange Rates
Chart East Caribbean Dollar Exchange Rates
Currency code: XCD
Exchange rates: East Caribbean dollars per US dollar - 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003), 2.7 (2002)
Fiscal year: calendar year


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions - East Caribbean Dollar Exchange Rates
Notes and Commentary: People - Economy - Government and Political Conditions - Historical Highlights - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions
East Caribbean Dollar Exchange Rates


Notes and Commentary
People
Economy
Government and Political Conditions
Historical Highlights
Foreign Relations
Relations with U.S.





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