Mother Earth Travel > Country Index > Anguilla > Map Economy |
| Economy - overview: Anguilla has few natural resources, and the economy depends
heavily on luxury tourism, offshore banking, lobster fishing, and remittances from
emigrants. The economy, and especially the tourism sector, suffered a setback in late 1995
due to the effects of Hurricane Luis in September but recovered in 1996. Increased
activity in the tourism industry, which has spurred the growth of the construction sector,
contributed to economic growth in 1997-98. Anguillan officials have put substantial effort
into developing the offshore financing sector. A comprehensive package of financial
services legislation was enacted in late 1994. In the medium term, prospects for the
economy will depend on the tourism sector and, therefore, on continuing income growth in
the industrialized nations as well as favorable weather conditions. GDP: purchasing power parity - $96 million (1999 est.) GDP - real growth rate: 7% (1999 est.) GDP - per capita: purchasing power parity - $8,200 (1999 est.) GDP - composition by sector: agriculture: 4% industry: 18% services: 78% (1997 est.) Inflation rate (consumer prices): 2.5% (1998 est.) Labor force: 4,400 (1992) Labor force - by occupation: commerce 36%, services 29%, construction 18%, transportation and utilities 10%, manufacturing 3%, agriculture/fishing/forestry/mining 4% Unemployment rate: 7% (1992 est.) Budget: revenues: $20.4 million expenditures: $23.3 million, including capital expenditures of $3.8 million (1997 est.) Industries: tourism, boat building, offshore financial services Industrial production growth rate: 3.1% (1997 est.) Agriculture - products: small quantities of tobacco, vegetables; cattle raising Exports: $4.5 million (1998) Exports - commodities: lobster, fish, livestock, salt Imports: $57.6 million (1998) Debt - external: $8.8 million (1998) Economic aid - recipient: $3.5 million (1995) Currency: 1 East Caribbean dollar (EC$) = 100 cents SOURCE: The World Factbook |
Mother Earth Travel > Country Index > Anguilla > Map Economy