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Saint Lucia Economy 2011
https://theodora.com/wfb2011/saint_lucia/saint_lucia_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 11, 2011

Economy - overview:
The island nation has been able to attract foreign business and investment, especially in its offshore banking and tourism industries, with a surge in foreign direct investment in 2006, attributed to the construction of several tourism projects. Although crops such as bananas, mangos, and avocados continue to be grown for export, tourism provides Saint Lucia's main source of income and the industry is the island's biggest employer. Tourism is the main source of foreign exchange, although tourism sector revenues declined with the global economic downturn as US and European travel dropped in 2009. The manufacturing sector is the most diverse in the Eastern Caribbean area, and the government is trying to revitalize the banana industry, although recent hurricanes have caused exports to contract. Saint Lucia is vulnerable to a variety of external shocks including volatile tourism receipts, natural disasters, and dependence on foreign oil. The public debt-to-GDP ratio is about 77% and high debt servicing obligations constrain the KING administration's ability to respond to adverse external shocks. Economic fundamentals remain solid, even though unemployment needs to be reduced.

GDP (purchasing power parity):
$1.789 billion (2010 est.)
country comparison to the world: 188

$1.769 billion (2009 est.)
$1.866 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$1 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.1% (2010 est.)
country comparison to the world: 178

-5.2% (2009 est.)
0.7% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$11,100 (2010 est.)
country comparison to the world: 102

$11,000 (2009 est.)
$11,700 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 5%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 15%
[see also: GDP - composition by sector - industry country ranks ]
services: 80% (2005 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
79,700 (2007)
country comparison to the world: 184
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 21.7%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 24.7%
[see also: Labor force - by occupation - industry country ranks ]
services: 53.6% (2002 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
20% (2003 est.)
country comparison to the world: 166
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: $320.9 million
[see also: Budget - revenues country ranks ]
expenditures: $393.3 million (2000 est.)
[see also: Budget - expenditures country ranks ]

Inflation rate (consumer prices):
1.9% (2007 est.)
country comparison to the world: 54
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
6.5% (31 December 2009)
country comparison to the world: 63

6.5% (31 December 2008)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
10.58% (31 December 2009 est.)
country comparison to the world: 89

10.08% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$244.3 million (31 December 2009)

$245 million (31 December 2008)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$1.094 billion (31 December 2009)

$1.061 billion (31 December 2008)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.378 billion (31 December 2008 est.)
country comparison to the world: 138

$1.217 billion (31 December 2007 est.)
[see also: Stock of domestic credit country ranks ]

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

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

Industrial production growth rate:
NA%
[see also: Industrial production growth rate country ranks ]

Electricity - production:
325 million kWh (2007 est.)
country comparison to the world: 166
[see also: Electricity - production country ranks ]

Electricity - consumption:
302.2 million kWh (2007 est.)
country comparison to the world: 167
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
0 bbl/day (2009 est.)
country comparison to the world: 137
[see also: Oil - production country ranks ]

Oil - consumption:
3,000 bbl/day (2009 est.)
country comparison to the world: 179
[see also: Oil - consumption country ranks ]

Oil - exports:
0 bbl/day (2007 est.)
country comparison to the world: 181
[see also: Oil - exports country ranks ]

Oil - imports:
2,747 bbl/day (2007 est.)
country comparison to the world: 171
[see also: Oil - imports country ranks ]

Oil - proved reserves:
0 bbl (1 January 2010 est.)
country comparison to the world: 130
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 137
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
0 cu m (2008 est.)
country comparison to the world: 157
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 135
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2008 est.)
country comparison to the world: 140
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 141
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$199 million (2007 est.)
country comparison to the world: 88
[see also: Current account balance country ranks ]

Exports:
$288 million (2006)
country comparison to the world: 176
[see also: Exports country ranks ]

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

Exports - partners:
Spain 29.41%, UK 15.28%, South Korea 10.54%, US 9.75%, India 9.52% (2009)

Imports:
$791 million (2006)
country comparison to the world: 180
[see also: Imports country ranks ]

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

Imports - partners:
Brazil 83.44%, US 4.67%, Trinidad and Tobago 4.56% (2009)

Debt - external:
$257 million (2004)
country comparison to the world: 173
[see also: Debt - external country ranks ]

Exchange rates:
East Caribbean dollars (XCD) per US dollar - 2.7 (2007), 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003)


NOTE: The information regarding Saint Lucia on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Saint Lucia Economy 2011 information contained here. All suggestions for corrections of any errors about Saint Lucia Economy 2011 should be addressed to the CIA.



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This page was last modified 09-Feb-11
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