Economy Of Anguilla
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Economy overview
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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.
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GDP
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purchasing power parity - $104 million (2001 est.)
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GDP - real growth rate
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2.8% (2001 est.)
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GDP - per capita
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purchasing power parity - $8,600 (2001 est.)
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GDP - composition by sector
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agriculture: 4%
industry: 18%
services: 78% (1997 est.)
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Investment gross fixed
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Population below poverty line
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NA
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Household income or consumption by percentage share
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lowest 10%: NA
highest 10%: NA
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Distribution of family income - Gini index
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Inflation rate consumer prices
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2.3%
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Labor force
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6,049 (2001)
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Labor force by occupation
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agriculture/fishing/forestry/mining 4%, manufacturing 3%, construction 18%, transportation and utilities 10%, commerce 36%, services 29% (2000 est.)
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Unemployment rate
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6.7% (2001)
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Budget
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revenues: $22.8 million
expenditures: $22.5 million, including capital expenditures of NA (2000 est.)
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Public debt
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Agriculture products
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small quantities of tobacco, vegetables; cattle raising
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Industries
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tourism, boat building, offshore financial services
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Industrial production growth rate
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3.1% (1997 est.)
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Electricity production
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NA
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Electricity production by source
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fossil fuel: NA
hydro: NA
other: NA
nuclear: NA
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Electricity consumption
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42.6 million kWh
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Electricity exports
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Electricity imports
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Oil production
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Oil consumption
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Oil exports
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Oil imports
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Oil proved reserves
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Natural gas production
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Natural gas consumption
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Natural gas exports
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Natural gas imports
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Natural gas proved reserves
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Current account balance
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Exports
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$2.6 million (1999)
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Exports commodities
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lobster, fish, livestock, salt, concrete blocks, rum
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Exports partners
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UK, US, Puerto Rico, Saint-Martin (2000)
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Imports
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$80.9 million (1999)
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Imports commodities
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fuels, foodstuffs, manufactures, chemicals, trucks, textiles
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Imports partners
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US, Puerto Rico, UK (2000)
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Reserves of foreign exchange gold
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Debt external
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$8.8 million (1998)
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Economic aid recipient
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$3.5 million (1995)
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Currency
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East Caribbean dollar (XCD)
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Currency code
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XCD
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Exchange rates
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East Caribbean dollars per US dollar - 2.70 (fixed rate since 1976)
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Fiscal year
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1 April - 31 March
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This information was reproduced in part from the CIA World Fact book.
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