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 has spurred the growth of the construction sector, contributing 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 kWh

Unemployment Rate

8% (2002)

Population Below Poverty Line

Household Income or Consumption by Percentage Share

Lowest 10%: NA%

Highest 10%: NA%

Budget

Revenues: $22.8 million

Expenditures: $22.5 million (2000 est.)

Central Bank Discount Rate

6.5% (31 December 2007)

Commercial Bank Prime Lending Rate

Stock of Narrow Money

Stock of Broad Money

Stock of Domestic Credit

$447.7 million (31 December 2007)

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 (XCD) per US dollar - 2.7 (2007), 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003)

Note: fixed rate since 1976

Year

GDP Official Exchange Rate

  • $108.9 million 2004 est.

GDP Purchasing Power Parity

    $108.9 million (2004 est.)

GDP Real Growth Rate

    10.2% (2004 est.)

GDP Per Capital

    $8,800 (2004 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

    5.3% (2006 est.)

Current Account Balance

    -$42.87 million (2003 est.)

Exports

    $13 million (2006)

Exports Partners

  • UK
  • US
  • Puerto
    Rico
  • Saint-Martin
    (2006)

Exports Commodities

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

Imports

    $143 million (2006)

Imports Partners

  • US
  • Puerto
    Rico
  • UK
    (2006)

Imports Commodities

    Fuels, foodstuffs, manufactures, chemicals, trucks, textiles