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Page last updated on January 11, 2011
Economy - overview:
Tourism is the primary economic activity, accounting for 80% of GDP and employment. The islands hosted 2.4 million visitors in 2008. The manufacturing sector consists of petroleum refining, rum distilling, textiles, electronics, pharmaceuticals, and watch assembly. One of the world's largest petroleum refineries is at Saint Croix. The agricultural sector is small, with most food being imported. International business and financial services are small but growing components of the economy. The islands are vulnerable 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):
$1.577 billion (2004 est.)
country comparison to the world: 194
[see also: GDP (purchasing power parity) country ranks ]
GDP (official exchange rate):
$NA
[see also: GDP (official exchange rate) country ranks ]
GDP - real growth rate:
2% (2002 est.)
country comparison to the world: 149
[see also: GDP - real growth rate country ranks ]
GDP - per capita:
$14,500 (2004 est.)
country comparison to the world: 81
[see also: GDP - per capita country ranks ]
GDP - composition by sector:
agriculture: 1%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
19%
[see also: GDP - composition by sector - industry country ranks ]
services:
80% (2003 est.)
[see also: GDP - composition by sector - services country ranks ]
Labor force:
49,820 (2007 est.)
country comparison to the world: 190
[see also: Labor force country ranks ]
Labor force - by occupation:
agriculture: 1%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
19%
[see also: GDP - composition by sector - industry country ranks ]
services:
80% (2003 est.)
[see also: GDP - composition by sector - services country ranks ]
Unemployment rate:
6.2% (2004)
country comparison to the world: 59
[see also: Unemployment rate country ranks ]
Population below poverty line:
28.9% (2002)
[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: $837 million
[see also: Budget - revenues country ranks ]
expenditures:
$837 million (FY08/09)
[see also: Budget - expenditures country ranks ]
Inflation rate (consumer prices):
2.2% (2003)
country comparison to the world: 65
[see also: Inflation rate (consumer prices) country ranks ]
Agriculture - products:
fruit, vegetables, sorghum; Senepol cattle
Industries:
tourism, petroleum refining, watch assembly, rum distilling, construction, pharmaceuticals, textiles, electronics
Industrial production growth rate:
NA%
[see also: Industrial production growth rate country ranks ]
Electricity - production:
776.4 million kWh (2007 est.)
country comparison to the world: 152
[see also: Electricity - production country ranks ]
Electricity - consumption:
722 million kWh (2007 est.)
country comparison to the world: 151
[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:
16,870 bbl/day (2009 est.)
country comparison to the world: 76
[see also: Oil - production country ranks ]
Oil - consumption:
88,820 bbl/day (2009 est.)
country comparison to the world: 82
[see also: Oil - consumption country ranks ]
Oil - exports:
388,000 bbl/day (2007 est.)
country comparison to the world: 33
[see also: Oil - exports country ranks ]
Oil - imports:
480,600 bbl/day (2007 est.)
country comparison to the world: 27
[see also: Oil - imports country ranks ]
Oil - proved reserves:
0 bbl
country comparison to the world: 107
[see also: Oil - proved reserves country ranks ]
Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 113
[see also: Natural gas - production country ranks ]
Natural gas - consumption:
0 cu m (2008 est.)
country comparison to the world: 164
[see also: Natural gas - consumption country ranks ]
Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 100
[see also: Natural gas - exports country ranks ]
Natural gas - imports:
0 cu m (2008 est.)
country comparison to the world: 116
[see also: Natural gas - imports country ranks ]
Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 121
[see also: Natural gas - proved reserves country ranks ]
Exports:
$4.234 billion (2001)
country comparison to the world: 116
[see also: Exports country ranks ]
Exports - commodities:
refined petroleum products
Imports:
$4.609 billion (2001)
country comparison to the world: 121
[see also: Imports country ranks ]
Imports - commodities:
crude oil, foodstuffs, consumer goods, building materials
Debt - external:
$NA
[see also: Debt - external country ranks ]
Exchange rates:
the US dollar is used
NOTE: The information regarding Virgin Islands 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 Virgin Islands Economy 2011 information contained here. All suggestions for corrections of any errors about Virgin Islands Economy 2011 should be addressed to the CIA.
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This page was last modified 09-Feb-11
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