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    Saint Vincent and the Grenadines Index


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    Saint Vincent and the Grenadines Economy - 2004
    https://immigration-usa.com/wfb2004/saint_vincent_and_the_grenadines/saint_vincent_and_the_grenadines_economy.html
    SOURCE: 2004 CIA WORLD FACTBOOK

      Economy - overview:
      Economic growth in this lower-middle-income country hinges upon seasonal variations in the agricultural and tourism sectors. Tropical storms wiped out substantial portions of crops in 1994, 1995, and 2002, and tourism in the Eastern Caribbean has suffered low arrivals following 11 September 2001. Saint Vincent is home to a small offshore banking sector and has moved to adopt international regulatory standards. Saint Vincent is also a large producer of marijuana and is being used as a transshipment point for illegal narcotics from South America.

      GDP:
      purchasing power parity - $339 million (2002 est.)

      GDP - real growth rate:
      -0.5% (2002 est.)

      GDP - per capita:
      purchasing power parity - $2,900 (2002 est.)

      GDP - composition by sector:
      agriculture: 10%
      industry: 26%
      services: 64% (2001 est.)

      Population below poverty line:
      NA% (2001 est.)

      Household income or consumption by percentage share:
      lowest 10%: NA%
      highest 10%: NA%

      Inflation rate (consumer prices):
      -0.4% (2001 est.)

      Labor force:
      67,000 (1984 est.)

      Labor force - by occupation:
      agriculture 26%, industry 17%, services 57% (1980 est.)

      Unemployment rate:
      22% (1997 est.)

      Budget:
      revenues: $94.6 million
      expenditures: $85.8 million, including capital expenditures of $NA (2000 est.)

      Industries:
      food processing, cement, furniture, clothing, starch

      Industrial production growth rate:
      -0.9% (1997 est.)

      Electricity - production:
      92.48 million kWh (2001)

      Electricity - production by source:
      fossil fuel: 69.3%
      hydro: 30.7%
      other: 0% (2001)
      nuclear: 0%

      Electricity - consumption:
      86 million kWh (2001)

      Electricity - exports:
      0 kWh (2001)

      Electricity - imports:
      0 kWh (2001)

      Oil - production:
      0 bbl/day (2001 est.)

      Oil - consumption:
      1,250 bbl/day (2001 est.)

      Oil - exports:
      NA

      Oil - imports:
      NA

      Agriculture - products:
      bananas, coconuts, sweet potatoes, spices, small numbers of cattle, sheep, pigs, goats, fish

      Exports:
      $38 million (2002 est.)

      Exports - commodities:
      bananas 39%, eddoes and dasheen (taro), arrowroot starch, tennis racquets

      Exports - partners:
      France 25.2%, Greece 19.2%, Spain 16.4%, UK 9.3%, US 7% (2002)

      Imports:
      $174 million (2002 est.)

      Imports - commodities:
      foodstuffs, machinery and equipment, chemicals and fertilizers, minerals and fuels

      Imports - partners:
      France 32.6%, US 11.2%, Trinidad and Tobago 10.4%, Singapore 10.2%, Spain 7.9%, Greece 4.3% (2002)

      Debt - external:
      $167.2 million (2000)

      Economic aid - recipient:
      $47.5 million (1995); note - EU $34.5 million (1998)

      Currency:
      East Caribbean dollar (XCD)

      Currency code:
      XCD

      Exchange rates:
      East Caribbean dollars per US dollar - 2.7 (2003), 2.7 (2002), 2.7 (2001), 2.7 (2000), 2.7 (1999)

      Fiscal year:
      calendar year


      NOTE: The information regarding Saint Vincent and the Grenadines on this page is re-published from the 2004 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Saint Vincent and the Grenadines Economy 2004 information contained here. All suggestions for corrections of any errors about Saint Vincent and the Grenadines Economy 2004 should be addressed to the CIA.

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    https://immigration-usa.com/wfb2004/saint_vincent_and_the_grenadines/saint_vincent_and_the_grenadines_economy.html

    Revised 21-May-04
    Copyright © 2004 Photius Coutsoukis (all rights reserved)


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