Overview: The economy is small and open with economic activity centered on tourism and construction. Tourism is the most important sector and accounts for roughly one-fifth of GDP. Agriculture accounts for about 4% of GDP and industry 10%. The economy is heavily dependent on imports, making it vulnerable to fluctuations in world prices. Exports consist mainly of electronic parts sold to the US.

National product: GDP - purchasing power equivalent - $53.7 million (1992 est.)

National product real growth rate: 4.3% (1992 est.)

National product per capita: $4,300 (1992 est.)

Inflation rate (consumer prices): 2.8% (1992)

Unemployment rate: 3% (1987)

Budget:
revenues: $12.1 million
expenditures: $14.3 million, including capital expenditures of $3.2 million (1988 est.)

Exports: $2.8 million (f.o.b., 1992)
commodities: electronic parts, plastic bags, apparel, hot peppers, live plants, cattle
partners: NA

Imports: $80.6 million (f.o.b.,1992)
commodities: machinery and transportation equipment, foodstuffs, manufactured goods, fuels, lubricants, and related materials
partners: NA

External debt: $2.05 million (1987)

Industrial production: growth rate 8.1% (1986); accounts for 10% of GDP

Electricity:
capacity: 5,271 kW
production: 12 million kWh
consumption per capita: 950 kWh (1992)

Industries: tourism; light manufacturing - rum, textiles, electronic appliances

Agriculture: accounts for 4% of GDP; small-scale farming; food crops - tomatoes, onions, peppers; not self-sufficient in food, especially livestock products

Economic aid:
recipient: Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $90 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 Montserrat 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 Montserrat Economy 1995 information contained here. All suggestions for corrections of any errors about Montserrat Economy 1995 should be addressed to the CIA.