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Antigua and Barbuda


    • Overview:
      The economy is primarily service oriented, with tourism the most important determinant of economic performance. In 1993, tourism made a direct contribution to GDP of about 17%, and also spurred growth in other sectors such as construction and transport. While only accounting for roughly 5% of GDP in 1993, agricultural production increased by 4%. Tourist arrivals remained strong in 1994.

    • National product:
      GDP - purchasing power parity - $400 million (1993 est.)

    • National product real growth rate:
      3.4% (1993)

    • National product per capita:
      $6,000 (1993 est.)

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

    • Unemployment rate:
      6% (1992 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 -4.9% (1993 est.); accounts for 6.5% of GDP

    • Electricity:

        capacity:
        52,100 kW

        production:
        95 million kWh

        consumption per capita:
        1,242 kWh (1993)

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

    • Agriculture:
      accounts for 5% of GDP; expanding output of cotton, fruits, vegetables, and livestock; other crops - bananas, coconuts, cucumbers, mangoes, sugarcane; not self-sufficient in food

    • Illicit drugs:
      a long-time but relatively minor transshipment point for narcotics bound for the US and Europe and recent transshipment point for heroin from Europe to the US; more significant as a drug money laundering center

    • 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






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