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
NA
Labor Force
6,049 (2001)country comparison to the world: 212
Electricity production
NA kWh
Unemployment Rate
8% (2002)country comparison to the world: 110
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 (2000 est.)
Central Bank Discount Rate
6.5% (31 December 2008)country comparison to the world: 58 6.5% (31 December 2007)
Commercial Bank Prime Lending Rate
Stock of Domestic Credit
$529.6 million (31 December 2008)country comparison to the world: 115 $447.7 million (31 December 2007)
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
Debt External
$8.8 million (1998)country comparison to the world: 199
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
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
