| GEOGRAPHIC NAMES | GEOLOGY | USA STATS | CHINA STATS | COUNTRY CODES | AIRPORTS | RELIGION | JOBS |

Antigua and Barbuda Economy 2012

SOURCE: 2012 CIA WORLD FACTBOOK AND OTHER SOURCES











Antigua and Barbuda Economy 2012
SOURCE: 2012 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 21,

Economy - overview:
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. Prospects for economic growth in the medium term will continue to depend on tourist arrivals from the US, Canada, and Europe and potential damages from natural disasters. After taking office in 2004, the SPENCER government adopted an ambitious fiscal reform program, and was successful in reducing its public debt-to-GDP ratio from 120% to about 90% in 2008. However, the global financial crisis that began in 2008, has led to a significant increase in the national debt, which topped 130% at the end of 2010. The Antiguan economy experienced solid growth from 2003 to 2007, reaching over 12% in 2006 driven by a construction boom in hotels and housing associated with the Cricket World Cup, but growth dropped off in 2008 with the end of the boom. In 2009, Antigua's economy was severely hit by the global economic crisis, suffering from the collapse of its largest financial institution and a steep decline in tourism. This decline continued in 2010 as the country struggled with a yawning budget deficit, but returned to positive growth in 2011.

GDP (purchasing power parity):
$1.734 billion (2011 est.)
country comparison to the world: 192

$1.734 billion (2010 est.)
$1.836 billion (2009 est.)
note: data are in 2011 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$1.3 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2% (2011 est.)
country comparison to the world: 149

-4.1% (2010 est.)
-9.6% (2009 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$22,100 (2011 est.)
country comparison to the world: 59

$21,900 (2010 est.)
$23,100 (2009 est.)
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 3.8%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 32.9%
[see also: GDP - composition by sector - industry country ranks ]
services: 63.4% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
30,000 (1991)
country comparison to the world: 203
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 7%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 11%
[see also: Labor force - by occupation - industry country ranks ]
services: 82% (1983)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
11% (2001 est.)
country comparison to the world: 118
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Investment (gross fixed):
84.7% of GDP (2011 est.)
country comparison to the world: 1
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $229.5 million
[see also: Budget revenues country ranks ]
expenditures: $293.4 million (2009 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
17.7% of GDP (2009 est.)
country comparison to the world: 172
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-4.9% of GDP (2009 est.)
country comparison to the world: 145
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
130% of GDP (2010 est.)
country comparison to the world: 7

90% of GDP (2008 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
2.5% (2011 est.)
country comparison to the world: 32

2.9% (2010 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
6.5% (31 December 2010 est.)
country comparison to the world: 52

6.5% (31 December 2009 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
10% (31 December 2011 est.)
country comparison to the world: 80

11.025% (31 December 2010 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$182.5 million (31 December 2011 est.)
country comparison to the world: 179

$208.1 million (31 December 2010 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$1.099 billion (31 December 2011 est.)
country comparison to the world: 168

$1.299 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.185 billion (31 December 2011 est.)
country comparison to the world: 151

$1.14 billion (31 December 2010 est.)
[see also: Stock of domestic credit country ranks ]

Agriculture - products:
cotton, fruits, vegetables, bananas, coconuts, cucumbers, mangoes, sugarcane; livestock

Industries:
tourism, construction, light manufacturing (clothing, alcohol, household appliances)

Industrial production growth rate:
NA%
[see also: Industrial production growth rate country ranks ]

Electricity - production:
115 million kWh (2008 est.)
country comparison to the world: 190
[see also: Electricity - production country ranks ]

Electricity - consumption:
107 million kWh (2008 est.)
country comparison to the world: 192
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2009 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
0 kWh (2009 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
0 bbl/day (2010 est.)
country comparison to the world: 148
[see also: Oil - production country ranks ]

Oil - consumption:
5,000 bbl/day (2010 est.)
country comparison to the world: 168
[see also: Oil - consumption country ranks ]

Oil - exports:
239.5 bbl/day (2009 est.)
country comparison to the world: 128
[see also: Oil - exports country ranks ]

Oil - imports:
4,548 bbl/day (2009 est.)
country comparison to the world: 161
[see also: Oil - imports country ranks ]

Natural gas - production:
0 cu m (2009 est.)
country comparison to the world: 148
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
0 cu m (2009 est.)
country comparison to the world: 148
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2009 est.)
country comparison to the world: 49
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2009 est.)
country comparison to the world: 146
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2011 est.)
country comparison to the world: 106
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$330.6 million (2011 est.)
country comparison to the world: 97

-$326.5 million (2010 est.)
[see also: Current account balance country ranks ]

Exports:
$68 million (2011 est.)
country comparison to the world: 194

$69.1 million (2010 est.)
[see also: Exports country ranks ]

Exports - commodities:
petroleum products, bedding, handicrafts, electronic components, transport equipment, food and live animals

Imports:
$657 million (2011 est.)
country comparison to the world: 185

$633.7 million (2010 est.)
[see also: Imports country ranks ]

Imports - commodities:
food and live animals, machinery and transport equipment, manufactures, chemicals, oil

Debt - external:
$359.8 million (June 2006)
country comparison to the world: 171
[see also: Debt - external country ranks ]

Exchange rates:
East Caribbean dollars (XCD) per US dollar -

2.7 (2011 est.)
2.7 (2010 est.)
2.7 (2009)


NOTE: 1) The information regarding Antigua and Barbuda on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Antigua and Barbuda Economy 2012 information contained here. All suggestions for corrections of any errors about Antigua and Barbuda Economy 2012 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






This page was last modified 07-Mar-12
Copyright © 1995- , ITA (all rights reserved).

    . Feedback