Economy - overview:
Success of the economy hinges upon seasonal variations in agriculture, tourism, and construction activity as well as remittance inflows. Much of the workforce is employed in banana production and tourism, but persistent high unemployment has prompted many to leave the islands. This lower-middle-income country is vulnerable to natural disasters - tropical storms wiped out substantial portions of crops in 1994, 1995, and 2002. In 2008, the islands had more than 200,000 tourist arrivals, mostly to the Grenadines, a drop of nearly 20% from 2007. Saint Vincent is home to a small offshore banking sector and has moved to adopt international regulatory standards. The government's ability to invest in social programs and respond to external shocks is constrained by its high public debt burden, which was over 90% of GDP at the end of 2010. Following the global downturn, St. Vincent and the Grenadines saw an economic decline in 2009, after slowing since 2006, when GDP growth reached a 10-year high of nearly 7%. The GONSALVES administration is directing government resources to infrastructure projects, including a new international airport that is expected to be completed in 2011.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Agriculture - products: Industries: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Debt - external: Exchange rates:
NOTE: The information regarding Saint Vincent and the Grenadines 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 Vincent and the Grenadines Economy 2011 information contained here. All suggestions for corrections of any errors about Saint Vincent and the Grenadines Economy 2011 should be addressed to the CIA.
$1.107 billion (2010 est.)
country comparison to the world: 199
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$583 million (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
0.5% (2010 est.)
country comparison to the world: 188
[see also: GDP - real growth rate country ranks ]
$10,600 (2010 est.)
country comparison to the world: 107
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 10%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
26%
[see also: GDP - composition by sector - industry country ranks ]
services:
64% (2001 est.)
[see also: GDP - composition by sector - services country ranks ]
57,520 (2007 est.)
country comparison to the world: 187
[see also: Labor force country ranks ]
agriculture: 26%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
17%
[see also: Labor force - by occupation - industry country ranks ]
services:
57% (1980 est.)
[see also: Labor force - by occupation - services country ranks ]
15% (2001 est.)
country comparison to the world: 149
[see also: Unemployment rate country ranks ]
NA%
[see also: Population below poverty line country ranks ]
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 ]
revenues: $192.2 million
[see also: Budget - revenues country ranks ]
expenditures:
$218.1 million (2000 est.)
[see also: Budget - expenditures country ranks ]
0.8% (2009 est.)
country comparison to the world: 17
[see also: Inflation rate (consumer prices) country ranks ]
6.5% (31 December 2009)
country comparison to the world: 64
[see also: Central bank discount rate country ranks ]
9.19% (31 December 2009 est.)
country comparison to the world: 98
[see also: Commercial bank prime lending rate country ranks ]
$133 million (31 December 2009)
[see also: Stock of narrow money country ranks ]
$444.4 million (31 December 2009)
[see also: Stock of broad money country ranks ]
$417.4 million (31 December 2008 est.)
country comparison to the world: 166
[see also: Stock of domestic credit country ranks ]
bananas, coconuts, sweet potatoes, spices; small numbers of cattle, sheep, pigs, goats; fish
food processing, cement, furniture, clothing, starch
133.8 million kWh (2007 est.)
country comparison to the world: 184
[see also: Electricity - production country ranks ]
124.4 million kWh (2007 est.)
country comparison to the world: 187
[see also: Electricity - consumption country ranks ]
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]
0 bbl/day (2009 est.)
country comparison to the world: 135
[see also: Oil - production country ranks ]
2,000 bbl/day (2009 est.)
country comparison to the world: 189
[see also: Oil - consumption country ranks ]
0 bbl/day (2007 est.)
country comparison to the world: 179
[see also: Oil - exports country ranks ]
1,451 bbl/day (2007 est.)
country comparison to the world: 182
[see also: Oil - imports country ranks ]
0 bbl (1 January 2010 est.)
country comparison to the world: 128
[see also: Oil - proved reserves country ranks ]
0 cu m (2008 est.)
country comparison to the world: 135
[see also: Natural gas - production country ranks ]
0 cu m (2008 est.)
country comparison to the world: 155
[see also: Natural gas - consumption country ranks ]
0 cu m (2008 est.)
country comparison to the world: 133
[see also: Natural gas - exports country ranks ]
0 cu m (2008 est.)
country comparison to the world: 138
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2010 est.)
country comparison to the world: 139
[see also: Natural gas - proved reserves country ranks ]
-$149 million (2007 est.)
country comparison to the world: 83
[see also: Current account balance country ranks ]
$193 million (2006)
country comparison to the world: 182
[see also: Exports country ranks ]
bananas, eddoes and dasheen (taro), arrowroot starch; tennis racquets
Greece 40.04%, Poland 11.78%, France 9.05%, China 8.53%, India 4.71% (2009)
$578 million (2006)
country comparison to the world: 186
[see also: Imports country ranks ]
foodstuffs, machinery and equipment, chemicals and fertilizers, minerals and fuels
Singapore 16.16%, Trinidad and Tobago 13.71%, US 13.41%, China 10.9%, Italy 8.89%, Turkey 6.6%, France 5.64%, Romania 4.44% (2009)
$479 million (2010 est.)
country comparison to the world: 164
[see also: Debt - external country ranks ]
East Caribbean dollars (XCD) per US dollar - 2.7 (2007), 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003)
This page was last modified 09-Feb-11