British Virgin Islands Economy 1989 - Flags, Maps, Economy, Geography, Climate, Natural Resources, Current Issues, International Agreements, Population, Social Statistics, Political System
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    British Virgin Islands Economy - 1989

      Overview: The economy 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. Livestock raising is the most significant agricultural activity. The islands' crops, limited by poor soils, are unable to meet food requirements.

      GDP: $84.5 million, per capita $7,260; real growth rate NA% (1985)

      Inflation rate (consumer prices): 1.7% (January 1987)

      Unemployment rate: NA%

      Budget: revenues $26.2 million; expenditures $25.4 million, including capital expenditures of $NA (1988 est.)

      Exports: $2.3 million (f.o.b., 1985); @m5commodities--rum, fresh fish, gravel, sand, fruits, animals; @m5partners--Virgin Islands (US), Puerto Rico, US

      Imports: $72.0 million (c.i.f., 1985); @m5commodities--building materials, automobiles, foodstuffs, machinery; @m5partners--Virgin Islands (US), Puerto Rico, US

      External debt: $4.5 million (1985)

      Industrial production: growth rate - 4.0% (1985)

      Electricity: 7,500 kW capacity; 33 million kWh produced, 2,730 kWh per capita (1987)

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

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

      Aid: NA

      Currency: US currency is used

      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 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of British Virgin Islands Economy 1989 information contained here. All suggestions for corrections of any errors about British Virgin Islands Economy 1989 should be addressed to the CIA.

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    Revised 15-Apr-03
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