Economy of the Virgin Islands

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Economy - overview: Tourism is the primary economic activity, accounting for more than 70% of GDP and 70% of employment. The islands normally host 2 million visitors a year. The manufacturing sector consists of petroleum refining, textiles, electronics, pharmaceuticals, and watch assembly. The agricultural sector is small, with most food being imported. International business and financial services are a small but growing component of the economy. One of the world's largest petroleum refineries is at Saint Croix. The islands are subject to substantial damage from storms. The government is working to improve fiscal discipline, support construction projects in the private sector, expand tourist facilities, and protect the environment.

GDP: purchasing power parity - $1.8 billion (2000 est.)
GDP - per capita: purchasing power parity - $15,000 (2000 est.)
Labor force: 47,443 (1990 est.)
Labor force - by occupation: agriculture 1%, industry 20%, services 79% (1990 est.)
Unemployment rate: 4.9% (March 1999)
Budget:
revenues: $364.4 million
expenditures: $364.4 million (1990 est.)
Industries: tourism, petroleum refining, watch assembly, rum distilling, construction, pharmaceuticals, textiles, electronics
Electricity - production: 1.02 billion kWh (1999)
Electricity - production by source:
fossil fuel:  100%
hydro:  0%
nuclear:  0%
other:  0% (1999)
Electricity - consumption: 948.6 million kWh (1999)
Agriculture - products: fruit, vegetables, sorghum; Senepol cattle
Exports - commodities: refined petroleum products
Exports - partners: US, Puerto Rico
Imports - commodities: crude oil, foodstuffs, consumer goods, building materials
Imports - partners: US, Puerto Rico
Currency: 1 United States dollar (US$) = 100 cents

SOURCE: The World Factbook

Mother Earth Travel > Country Index > Virgin Islands > Map Economy