ECONOMY
Economy - overview:
Anguilla has few natural resources, and the economy depends heavily
on luxury tourism, offshore banking, lobster fishing, and remittances
from emigrants. Increased activity in the tourism industry, which
has spurred the growth of the construction sector, has contributed
to economic growth. Anguillan officials have put substantial effort
into developing the offshore financial sector, which is small,
but growing. In the medium term, prospects for the economy will
depend largely on the tourism sector and, therefore, on revived
income growth in the industrialized nations as well as on favorable
weather conditions.
GDP:
purchasing power parity - $104 million (2001 est.)
GDP - real growth rate:
2.8% (2001 est.)
GDP - per capita:
purchasing power parity - $8,600 (2001 est.)
GDP - composition by sector:
agriculture: 4%
industry: 18%
services: 78% (1997 est.)
Population below poverty line:
NA
Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA
Inflation rate (consumer prices):
2.3%
Labor force:
6,049 (2001)
Labor force - by occupation:
agriculture/fishing/forestry/mining 4%, manufacturing 3%, construction
18%, transportation and utilities 10%, commerce 36%, services
29% (2000 est.)
Unemployment rate:
6.7% (2001)
Budget:
revenues: $22.8 million
expenditures: $22.5 million, including capital expenditures of
NA (2000 est.)
Agriculture - products:
small quantities of tobacco, vegetables; cattle raising
Industries:
tourism, boat building, offshore financial services
Industrial production growth rate:
3.1% (1997 est.)
Electricity - production:
NA
Electricity - consumption:
42.6 million kWh
Exports:
$2.6 million (1999)
Exports - commodities:
lobster, fish, livestock, salt, concrete blocks, rum
Exports - partners:
UK, US, Puerto Rico, Saint-Martin (2000)
Imports:
$80.9 million (1999)
Imports - commodities:
fuels, foodstuffs, manufactures, chemicals, trucks, textiles
Imports - partners:
US, Puerto Rico, UK (2000)
Debt - external:
$8.8 million (1998)
Economic aid - recipient:
$3.5 million (1995)
Currency:
East Caribbean dollar (XCD)
Currency code:
XCD
Exchange rates:
East Caribbean dollars per US dollar - 2.70 (fixed rate since
1976)
Fiscal year:
1 April - 31 March
