Economy Of Antigua and Barbuda - Antigua and Barbuda Information

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Economy Of Antigua and Barbuda
Antigua and Barbuda Information - Country Guides

Economy overview	Tourism continues to dominate the economy, accounting for more than half of GDP. Weak tourist arrival numbers since early 2000 have slowed the economy, however, and pressed the government into a tight fiscal corner. 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 income growth in the industrialized world, especially in the US, which accounts for slightly more than one-third of tourist arrivals.
GDP	purchasing power parity - $750 million (2002 est.)
GDP - real growth rate	3% (2002 est.)
GDP - per capita	purchasing power parity - $11,000 (2002 est.)
GDP - composition by sector	agriculture: 3.9% industry: 19.2% services: 76.8% (2002)
Investment gross fixed
Population below poverty line	NA
Household income or consumption by percentage share	lowest 10%: na highest 10%: na
Distribution of family income - Gini index
Inflation rate consumer prices	0.4% (2000 est.)
Labor force	30,000
Labor force by occupation	agriculture 7%, industry 11%, services 82% (1983)
Unemployment rate	11% (2001 est.)
Budget	revenues: $123.7 million expenditures: $145.9 million, including capital expenditures of na (2000 est.)
Public debt
Agriculture products	cotton, fruits, vegetables, bananas, coconuts, cucumbers, mangoes, sugarcane; livestock
Industries	tourism, construction, light manufacturing (clothing, alcohol, household appliances)
Industrial production growth rate	6% (1997 est.)
Electricity production	105.3 million kWh (2001)
Electricity production by source	fossil fuel: 100% hydro: 0% other: 0% (2001) nuclear: 0%
Electricity consumption	97.89 million kWh (2001)
Electricity exports	0 kWh (2001)
Electricity imports	0 kWh (2001)
Oil production	0 bbl/day (2001 est.)
Oil consumption	3,600 bbl/day (2001 est.)
Oil exports	NA (2001)
Oil imports	NA (2001)
Oil proved reserves
Natural gas production
Natural gas consumption
Natural gas exports
Natural gas imports
Natural gas proved reserves
Current account balance
Exports	$689 million (2002)
Exports commodities	petroleum products 48%, manufactures 23%, machinery and transport equipment 17%, food and live animals 4%, other 8%
Exports partners	Germany 84.9%, UK 3.8%, US 3.3% (2003)
Imports	$692 million (2002 est.)
Imports commodities	food and live animals, machinery and transport equipment, manufactures, chemicals, oil
Imports partners	US 26.5%, Singapore 10%, Poland 7%, Germany 6.1%, UK 6.1%, Trinidad and Tobago 4.4% (2003)
Reserves of foreign exchange gold
Debt external	$231 million (1999)
Economic aid recipient	$2.3 million (1995)
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), 2.7 (1998) (fixed rate since 1976)
Fiscal year	1 April - 31 March

Antiguan Flag Map Of Antigua and Barbuda

Economy Of Antigua and BarbudaAntigua and Barbuda Information - Country Guides

Economy Of Antigua and Barbuda
Antigua and Barbuda Information - Country Guides