4 GeoFroggy

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.

Agriculture Products

small quantities of tobacco, vegetables; cattle raising

Industries

tourism, boat building, offshore financial services

Industrial Production Growth Rate

3.1% (1997 est.)

Labor Force

6,049 (2001)

Electricity production

NA (2000)

Electricity production by source

Fossil fuel: NA%

Hydro: NA%

Other: NA%

Nuclear: NA%

Electricity Consumption

42.6 million kWh

Currency

East Caribbean dollar (XCD)

Unemployment Rate

6.7% (2001)

Population Below Poverty Line

NA%

Household Income or Consumption by Percentage Share

Lowest 10%: NA%

Highest 10%: NA%

Budget

Revenues: $22.8 million

Expenditures: $22.5 million, including capital expenditures of NA (2000 est.)

Commercial Bank Prime Lending Rate

Stock of Narrow Money

Stock of Broad Money

Stock of Domestic Credit

Market Value of Publicly Traded Shares

Reserves of Foreign Exchange and Gold

Debt External

$8.8 million (1998)

Stock of Direct Foreign Investment at Home

Stock of Direct Foreign Investment Abroad

Exchange Rates

East Caribbean dollars per US dollar - 2.7000 (fixed rate since 1976)
Year

Fiscal Year

  • 1 April - 31 March

GDP Purchasing Power Parity

    Purchasing power parity - $104 million (2001 est.)

GDP Real Growth Rate

    2.8% (2001 est.)

GDP Per Capital

    Purchasing power parity - $8,600 (2001 est.)

Gross National Saving

GDP Composition by end Use

GDP Composition by Sector of Origin

  • Agriculture
    4%
  • Industry
    18%
  • Services
    78% (1997 est.)

Inflation Rate Consumer Prices

    2.3%

Current Account Balance

Exports

    $2.6 million (1999)

Exports Partners

  • UK
  • US
  • Puerto
    Rico
  • Saint-Martin
    (2000)

Exports Commodities

    Lobster, fish, livestock, salt, concrete blocks, rum

Imports

    $80.9 million (1999)

Imports Partners

  • US
  • Puerto
    Rico
  • UK
    (2000)

Imports Commodities

    Fuels, foodstuffs, manufactures, chemicals, trucks, textiles