Overview: The economy is small and open with economic activity centered on tourism and construction. Tourism is the most important sector and accounted for 20% of GDP in 1986. Agriculture accounted for about 4% of GDP and industry 10%. The economy is heavily dependent on imports, making it vulnerable to fluctuations in world prices. Exports consist mainly of electronic parts sold to the US.

GDP: $54.2 million, per capita $4,500; real growth rate 12% (1988 est.)

Inflation rate (consumer prices): 3.6% (1988)

Unemployment rate: 3.0% (1987)

Budget: revenues $12.1 million; expenditures $14.3 million, including capital expenditures of $3.2 million (1988)

Exports: $2.3 million (f.o.b., 1988 est.); commodities--electronic parts, plastic bags, apparel, hot peppers, live plants, cattle; partners--NA

Imports: $30 million (c.i.f., 1988 est.); commodities--machinery and transportation equipment, foodstuffs, manufactured goods, fuels, lubricants, and related materials; partners--NA

External debt: $2.05 million (1987)

Industrial production: growth rate 8.1% (1986); accounts for 10% of GDP

Electricity: 5,270 kW capacity; 12.2 million kWh produced, 980 kWh per capita (1990)

Industries: tourism; light manufacturing--rum, textiles, electronic appliances

Agriculture: accounts for 4% of GDP; small-scale farming; food crops--tomatoes, onions, peppers; not self-sufficient in food, especially livestock products

Economic aid: Western (non-US) countries, ODA and OOF bilateral commitments (1970-88), $75 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 Montserrat 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 Montserrat Economy 1991 information contained here. All suggestions for corrections of any errors about Montserrat Economy 1991 should be addressed to the CIA.