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    Virgin Islands Index 2006

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    Virgin Islands Economy - 2006

      Economy - overview:
      Tourism is the primary economic activity, accounting for 80% of GDP and employment. The islands normally host 2 million visitors a year. The manufacturing sector consists of petroleum refining, textiles, electronics, pharmaceuticals, and watch assembly. The agricultural sector is small, with most food being imported. International business and financial services are small but growing components of the economy. One of the world's largest petroleum refineries is at Saint Croix. The islands are subject to substantial damage from storms. The government is working to improve fiscal discipline, to support construction projects in the private sector, to expand tourist facilities, to reduce crime, and to protect the environment.

      GDP (purchasing power parity):
      $2.5 billion (2002 est.)

      GDP (official exchange rate):

      GDP - real growth rate:
      2% (2002 est.)

      GDP - per capita (PPP):
      $17,200 (2002 est.)

      GDP - composition by sector:
      agriculture: 1%
      industry: 19%
      services: 80% (2003 est.)

      Labor force:
      48,900 (2003 est.)

      Labor force - by occupation:
      agriculture: 1%
      industry: 19%
      services: 80% (2003 est.)

      Unemployment rate:
      9.3% (2003 est.)

      Population below poverty line:

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

      Inflation rate (consumer prices):
      2.2% (2003)

      revenues: $NA
      expenditures: $NA

      Agriculture - products:
      fruit, vegetables, sorghum; Senepol cattle

      tourism, petroleum refining, watch assembly, rum distilling, construction, pharmaceuticals, textiles, electronics

      Industrial production growth rate:

      Electricity - production:
      1.04 billion kWh (2003)

      Electricity - consumption:
      967.3 million kWh (2003)

      Electricity - exports:
      0 kWh (2003)

      Electricity - imports:
      0 kWh (2003)

      Oil - production:
      14,650 bbl/day (2003 est.)

      Oil - consumption:
      105,000 bbl/day (2003 est.)

      Oil - exports:
      NA bbl/day

      Oil - imports:
      NA bbl/day

      Natural gas - production:
      0 cu m (2003 est.)

      Natural gas - consumption:
      0 cu m (2003 est.)


      Exports - commodities:
      refined petroleum products

      Exports - partners:
      US, Puerto Rico (2004)


      Imports - commodities:
      crude oil, foodstuffs, consumer goods, building materials

      Imports - partners:
      US, Puerto Rico (2004)

      Debt - external:

      Economic aid - recipient:

      Currency (code):
      US dollar (USD)

      Exchange rates:
      the US dollar is used

      Fiscal year:
      1 October - 30 September

      NOTE: The information regarding Virgin Islands on this page is re-published from the 2006 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Virgin Islands Economy 2006 information contained here. All suggestions for corrections of any errors about Virgin Islands Economy 2006 should be addressed to the CIA.

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    Revised 06-Jun-06
    Copyright © 2006 Photius Coutsoukis (all rights reserved)