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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

Electricity Consumption

42.6 million kWh

Unemployment Rate

8% (2002)

Population Below Poverty Line

23% (2002)

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

Exchange rates: East Caribbean dollars per US dollar - 2.7 (2004), 2.7 (2003), 2.7 (2002), 2.7 (2001), 2.7 (2000)

Note: fixed rate since 1976

Year	2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000

Fiscal Year

1 April - 31 March

GDP Purchasing Power Parity

$112 million (2002 est.)

GDP Real Growth Rate

2.8% (2001 est.)

GDP Per Capital

Purchasing power parity - $7,500 (2002 est.)

Gross National Saving

GDP Composition by end Use

GDP Composition by Sector of Origin

Agriculture
4%
Industry
18%
Services
78% (2002 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

Anguilla