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    Antigua and Barbuda Economy - 1991

      Overview: The economy is primarily service oriented, with tourism the most important determinant of economic performance. During the period 1983-89, real GDP expanded at an annual average rate of about 7%. Tourism's contribution to GDP, as measured by value added tax in hotels and restaurants, rose from about 14% in 1983 to 16% in 1989, and stimulated growth in other sectors--particularly in construction, communications, and public utilities. Antigua and Barbuda is one of the few areas in the Caribbean experiencing a labor shortage in some sectors of the economy.

      GDP: $350 million, per capita $5,470 (1989); real growth rate 3.0% (1991 est.)

      Inflation rate (consumer prices): 7% (1990 est.)

      Unemployment rate: 5.0% (1988 est.)

      Budget: revenues $92.8 million; expenditures $101 million, including capital expenditures of $NA (1990 est.)

      Exports: $33.2 million (f.o.b., 1990 est.); 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: $358.2 million (c.i.f., 1990 est.); 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 3% (1989 est.); accounts for 9% of GDP

      Electricity: 52,000 kW capacity; 95 million kWh produced, 1,490 kWh per capita (1990)

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

      Agriculture: accounts for 4% of GDP; expanding output of cotton, fruits, vegetables, and livestock sector; other crops--bananas, coconuts, cucumbers, mangoes, sugarcane; not self-sufficient in food

      Economic aid: US commitments, $10 million (1985-88); Western (non-US) countries, ODA and OOF bilateral commitments (1970-88), $45 million

      Currency: East Caribbean dollar (plural--dollars); 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 Antigua and Barbuda on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Antigua and Barbuda Economy 1991 information contained here. All suggestions for corrections of any errors about Antigua and Barbuda Economy 1991 should be addressed to the CIA.

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    Revised 08-Feb-03
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