Overview: The economy, one of the most prosperous in the Caribbean area, is highly dependent on the tourist industry, which generates about 21% of the national income. In 1985 the government offered offshore registration to companies wishing to incorporate in the islands, and, in consequence, incorporation fees generated about $2 million in 1987. The economy slowed in 1991 because of the poor performances of the tourist sector and tight commercial bank credit. Livestock raising is the most significant agricultural activity. The islands' crops, limited by poor soils, are unable to meet food requirements.

National product: GDP - purchasing power equivalent - $133 million (1991)

National product real growth rate: 2% (1991)

National product per capita: $10,600 (1991)

Inflation rate (consumer prices): 2.5% (1990 est.)

Unemployment rate: NEGL% (1992)

Budget:
revenues: $51 million
expenditures: $88 million, including capital expenditures of $38 million (1991)

Exports: $2.7 million (f.o.b., 1988)
commodities: rum, fresh fish, gravel, sand, fruits, animals
partners: Virgin Islands (US), Puerto Rico, US

Imports: $11.5 million (c.i.f., 1988)
commodities: building materials, automobiles, foodstuffs, machinery
partners: Virgin Islands (US), Puerto Rico, US

External debt: $4.5 million (1985)

Industrial production: growth rate 4% (1985)

Electricity:
capacity: 10,500 kW
production: 43 million kWh
consumption per capita: 3,510 kWh (1990)

Industries: tourism, light industry, construction, rum, concrete block, offshore financial center

Agriculture: livestock (including poultry), fish, fruit, vegetables

Economic aid: $NA

Currency: 1 United States dollar (US$) = 100 cents
Exchange rates: US currency is used

Fiscal year: 1 April - 31 March

NOTE: The information regarding British Virgin Islands 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 British Virgin Islands Economy 1995 information contained here. All suggestions for corrections of any errors about British Virgin Islands Economy 1995 should be addressed to the CIA.