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    Virgin Islands Economy - 1989

      Overview: Tourism is the primary economic activity, accounting for more than 70% of GDP and 70% of employment. The manufacturing sector consists of textile, electronics, pharmaceutical, and watch assembly plants. The agricultural sector is small with most food imported. International business and financial services are a small but growing component of the economy. The world's largest petroleum refinery is at St. Croix.

      GDP: $1.03 billion, per capita $9,030; real growth rate NA% (1985)

      Inflation rate (consumer prices): NA%

      Unemployment rate: 3.5% (1987)

      Budget: revenues $315 million; expenditures $322 million, including capital expenditures of NA (FY88)

      Exports: $3.4 billion (f.o.b., 1985); @m5commodities--refined petroleum products; @m5partners--US, Puerto Rico

      Imports: $3.7 billion (c.i.f., 1985); @m5commodities--crude oil, foodstuffs, consumer goods, building materials; @m5partners--US, Puerto Rico

      External debt: $NA

      Industrial production: growth rate 12%

      Electricity: 341,000 kW capacity; 507 million kWh produced, 4,700 kWh per capita (1988)

      Industries: tourism, government service, petroleum refining, watch assembly, rum distilling, construction, pharmaceuticals, textiles, electronics

      Agriculture: truck gardens, food crops (small scale), fruit, sorghum, Senepol cattle

      Aid: NA

      Currency: US currency is used

      Exchange rates: US currency is used

      Fiscal year: 1 October-30 September

      NOTE: The information regarding 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 Virgin Islands Economy 1989 information contained here. All suggestions for corrections of any errors about Virgin Islands Economy 1989 should be addressed to the CIA.

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    Revised 15-Apr-03
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