Overview: Since 1983 the economy has shown an impressive average annual growth rate of almost 5% because of strong agricultural and tourist sectors. Saint Lucia also possesses an expanding industrial base supported by foreign investment in manufacturing and other activities, such as data processing. The economy, however, remains vulnerable because the important agricultural sector is dominated by banana production, which is subject to periodic droughts and tropical storms. The economy exhibited relatively strong growth in 1992-93 based on a recovery of the agricultural and manufacturing sectors and continued growth in construction and tourism.

National product: GDP - exchange rate conversion - $433 million (1993 est.)

National product real growth rate: 6.6% (1992 est.)

National product per capita: $3,000 (1993 est.)

Inflation rate (consumer prices): 5.1% (1992)

Unemployment rate: NA%

Budget:
revenues: $121 million
expenditures: $127 million, including capital expenditures of $104 million (1992 est.)

Exports: $122.8 million (f.o.b., 1992)
commodities: bananas 60%, clothing, cocoa, vegetables, fruits, coconut oil
partners: UK 56%, US 22%, CARICOM 19% (1991)

Imports: $276 million (f.o.b., 1992)
commodities: manufactured goods 21%, machinery and transportation equipment 21%, food and live animals, chemicals, fuels
partners: US 34%, CARICOM 17%, UK 14%, Japan 7%, Canada 4% (1991)

External debt: $96.4 million (1992 est.)

Industrial production: growth rate 3.5% (1990 est.); accounts for 12% of GDP

Electricity:
capacity: 32,500 kW
production: 112 million kWh
consumption per capita: 740 kWh (1992)

Industries: clothing, assembly of electronic components, beverages, corrugated cardboard boxes, tourism, lime processing, coconut processing

Agriculture: accounts for 14% of GDP and 43% of labor force; crops - bananas, coconuts, vegetables, citrus fruit, root crops, cocoa; imports food for the tourist industry

Illicit drugs: transit country for South American drugs destined for the US and Europe

Economic aid:
recipient: Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $120 million

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

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