ECONOMY
Economy
- overview: Tourism is the primary economic activity,
accounting for more than 70% of GDP and 70% of employment. The
islands normally host 2 million visitors a year. The manufacturing
sector consists of petroleum refining, textiles, electronics,
pharmaceuticals, and watch assembly. The agricultural sector is
small, with most food being imported. International business and
financial services are a small but growing component of the economy.
One of the world's largest petroleum refineries is at Saint Croix.
The islands are subject to substantial damage from storms. The
government is working to improve fiscal discipline, support construction
projects in the private sector, expand tourist facilities, and
protect the environment.
GDP: purchasing power parity - $1.8 billion (2000
est.)
GDP - real growth rate: NA%
GDP - per capita: purchasing power parity - $15,000
(2000 est.)
GDP - composition by sector:
agriculture: NA%
industry: NA%
services: NA%
Population below poverty line: NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices): NA%
Labor force: 47,443 (1990 est.)
Labor force - by occupation: agriculture 1%,
industry 20%, services 79% (1990 est.)
Unemployment rate: 4.9% (March 1999)
Budget:
revenues: $364.4 million
expenditures: $364.4 million, including capital expenditures of
$NA (1990 est.)
Industries: tourism, petroleum refining, watch
assembly, rum distilling, construction, pharmaceuticals, textiles,
electronics
Industrial production growth rate: NA%
Electricity - production: 1.02 billion kWh (1999)
Electricity - production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1999)
Electricity - consumption: 948.6 million kWh
(1999)
Electricity - exports: 0 kWh (1999)
Electricity - imports: 0 kWh (1999)
Agriculture - products: fruit, vegetables, sorghum;
Senepol cattle
Exports: $NA
Exports - commodities: refined petroleum products
Exports - partners: US, Puerto Rico
Imports: $NA
Imports - commodities: crude oil, foodstuffs,
consumer goods, building materials
Imports - partners: US, Puerto Rico
Debt - external: $NA
Economic aid - recipient: $NA
Currency: US dollar (USD)
Currency code: USD
Exchange rates: the US dollar is used
Fiscal year: 1 October - 30 September
