Overview: The economy is primarily service oriented, with tourism the most important determinant of economic performance. During the period 1986-91, real GDP expanded at an annual average rate of about 6%. Tourism makes a direct contribution to GDP of about 13% and also affects growth in other sectors - particularly in construction, communications, and public utilities. In 1992, reduced government capital spending and private sector investment, dampened by recession in the major world economies, slowed economic growth.

National product: GDP - exchange rate conversion - $368.5 million (1993 est.)

National product real growth rate: NA

National product per capita: $5,800 (1993 est.)

Inflation rate (consumer prices): 7% (1993)

Unemployment rate: 5% (1988 est.)

Budget:
revenues: $105 million
expenditures: $161 million, including capital expenditures of $56 million (1992)

Exports: $54.7 million (f.o.b., 1992)
commodities: petroleum products 48%, manufactures 23%, food and live animals 4%, machinery and transport equipment 17%
partners: OECS 26%, Barbados 15%, Guyana 4%, Trinidad and Tobago 2%, US 0.3%

Imports: $260.9 million (f.o.b., 1992)
commodities: food and live animals, machinery and transport equipment, manufactures, chemicals, oil
partners: US 27%, UK 16%, Canada 4%, OECS 3%, other 50%

External debt: $250 million (1990 est.)

Industrial production: growth rate 3% (1989 est.); accounts for 8% of GDP

Electricity:
capacity: 52,100 kW
production: 95 million kWh
consumption per capita: 1,482 kWh (1992)

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

Agriculture: accounts for 4% of GDP; expanding output of cotton, fruits, vegetables, and livestock; other crops - bananas, coconuts, cucumbers, mangoes, sugarcane; not self-sufficient in food

Economic aid:
recipient: US commitments (1985-88), $10 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $50 million

Currency: 1 EC dollar (EC$) = 100 cents
Exchange rates: East Caribbean dollars (EC$) per US$1 - 2.70 (fixed rate since 1976)

Fiscal year: 1 April - 31 March

NOTE: The information regarding Antigua and Barbuda on this page is re-published from the 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Antigua and Barbuda Economy 1995 information contained here. All suggestions for corrections of any errors about Antigua and Barbuda Economy 1995 should be addressed to the CIA.