Tourism continues to dominate Antigua and Barbuda's economy, accounting for nearly 60% of GDP and 40% of investment. The dual-island nation's agricultural production is focused on the domestic market and constrained by a limited water supply and a labor shortage stemming from the lure of higher wages in tourism and construction. Manufacturing comprises enclave-type assembly for export with major products being bedding, handicrafts, and electronic components.
Like other countries in the region, Antigua's economy was severely hit by effects of the global economic recession in 2009. The country suffered from the collapse of its largest private sector employer, a steep decline in tourism, a rise in debt, and a sharp economic contraction between 2009 and 2011. Antigua has not yet returned to its pre-crisis growth levels. Barbuda suffered significant damages after hurricanes Irma and Maria passed through the Caribbean in 2017.
Prospects for economic growth in the medium term will continue to depend on tourist arrivals from the US, Canada, and Europe and could be disrupted by potential damage from natural disasters. The new government, elected in 2014 and led by Prime Minister Gaston Browne, continues to face significant fiscal challenges. The government places some hope in a new Citizenship by Investment Program, to both reduce public debt levels and spur growth, and a resolution of a WTO dispute with the US.
Agriculture: 7%
Industry: 11%
Services: 82% (1983 est.)
2014: 11%
Lowest 10: NA
Highest 10: NA
Revenues: 298.2 million (2017 est.)
Expenditures: 334 million (2017 est.)
2017: 86.8% of GDP
2016: 86.2% of GDP
31 December 2010: 6.5%
31 December 2009: 6.5%
31 December 2017: 9.31%
31 December 2016: 9.58%
31 December 2017: $349.2 million
31 December 2016: $293 million
31 December 2017: $349.2 million
31 December 2016: $293 million
31 December 2017: $909.6 million
31 December 2016: $913 million
31 December 2012: $441.2 million
June 2010: $458 million
Currency: East Caribbean dollars (XCD) per US dollar -
Exchange rates:
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