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    Saint Lucia Economy - 2003
    https://theodora.com/wfb2003/saint_lucia/saint_lucia_economy.html
    SOURCE: 2003 CIA WORLD FACTBOOK

      Economy - overview: The recent changes in the EU import preference regime and the increased competition from Latin American bananas have made economic diversification increasingly important in Saint Lucia. The island nation has been able to attract foreign business and investment, especially in its offshore banking and tourism industries. The manufacturing sector is the most diverse in the Eastern Caribbean area, and the government is trying to revitalize the banana industry. Economic fundamentals remain solid.


      GDP: purchasing power parity - $866 million (2002 est.)


      GDP - real growth rate: 3.3% (2002 est.)


      GDP - per capita: purchasing power parity - $5,400 (2002 est.)


      GDP - composition by sector: agriculture: 7%
      industry: 20%
      services: 73% (2002 est.)


      Population below poverty line: NA%


      Household income or consumption by percentage share: lowest 10%: NA%
      highest 10%: NA%


      Inflation rate (consumer prices): 3% (2001 est.)


      Labor force: 43,800


      Labor force - by occupation: agriculture 21.7%, services 53.6%, industry, commerce, and manufacturing 24.7% (2002 est.)


      Unemployment rate: 16.5% (1997 est.)


      Budget: revenues: $141.2 million
      expenditures: $146.7 million, including capital expenditures of $25.1 million (2000 est.)


      Industries: clothing, assembly of electronic components, beverages, corrugated cardboard boxes, tourism, lime processing, coconut processing


      Industrial production growth rate: -8.9% (1997 est.)


      Electricity - production: 120.2 million kWh (2001)


      Electricity - production by source: fossil fuel: 100%
      hydro: 0%
      other: 0% (2001)
      nuclear: 0%


      Electricity - consumption: 111.8 million kWh (2001)


      Electricity - exports: 0 kWh (2001)


      Electricity - imports: 0 kWh (2001)


      Oil - production: 0 bbl/day (2001 est.)


      Oil - consumption: 2,400 bbl/day (2001 est.)


      Oil - exports: NA (2001)


      Oil - imports: NA (2001)


      Agriculture - products: bananas, coconuts, vegetables, citrus, root crops, cocoa


      Exports: $68.3 million (2000 est.)


      Exports - commodities: bananas 41%, clothing, cocoa, vegetables, fruits, coconut oil


      Exports - partners: UK 50%, US 24%, Caricom countries 16% (1995)


      Imports: $319.4 million (2000 est.)


      Imports - commodities: food 23%, manufactured goods 21%, machinery and transportation equipment 19%, chemicals, fuels


      Imports - partners: US 36%, Caricom countries 22%, UK 11%, Japan 5%, Canada 4% (1995)


      Debt - external: $214 million (2000)


      Economic aid - recipient: $51.8 million (1995)


      Currency: East Caribbean dollar (XCD)


      Currency code: XCD


      Exchange rates: East Caribbean dollars per US dollar - 2.7 (2002), 2.7 (2001), 2.7 (2000), 2.7 (1999), 2.7 (1998)


      Fiscal year: 1 April - 31 March


      NOTE: The information regarding Saint Lucia on this page is re-published from the 2003 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guinea Geography 2003 information contained here. All suggestions for corrections of any errors about Saint Lucia Economy 2003 should be addressed to the CIA.

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    https://theodora.com/wfb2003/saint_lucia/saint_lucia_economy.html

    Revised 20-Sep-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)


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