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Antigua and Barbuda Economy 2017
https://theodora.com/wfbcurrent/antigua_and_barbuda/antigua_and_barbuda_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Antigua and Barbuda Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Tourism continues to dominate Antigua and Barbuda's economy, accounting for nearly 60% of GDP and 40% of investment. The dual-island nation's agricultural production is focused on the domestic market and constrained by a limited water supply and a labor shortage stemming from the lure of higher wages in tourism and construction. Manufacturing comprises enclave-type assembly for export with major products being bedding, handicrafts, and electronic components.After taking office in 2004, the SPENCER government adopted an ambitious fiscal reform program and was successful in reducing its public debt-to-GDP ratio from approximately 130% in 2010 to 89% in 2012. In 2009, the country's economy was severely hit by the global economic crisis and suffered from the collapse of its largest private sector employer, a steep decline in tourism, a rise in debt, and a sharp economic contraction between 2009 and 2011. The country has not yet returned to its pre-crisis growth levels.Prospects for economic growth in the medium term will continue to depend on tourist arrivals from the US, Canada, and Europe and potential damages from natural disasters.

GDP (purchasing power parity):
$2.171 billion (2016 est.) $2.128 billion (2015 est.) $2.084 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 194
[see also: GDP country ranks ]

GDP (official exchange rate):
$1.303 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2% (2016 est.) 2.2% (2015 est.) 4.2% (2014 est.)
country comparison to the world: 135
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$24,100 (2016 est.) $23,900 (2015 est.) $23,700 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 79
[see also: GDP - per capita country ranks ]

Gross national saving:
14.7% of GDP (2016 est.) 13.6% of GDP (2015 est.) 10.6% of GDP (2014 est.)
country comparison to the world: 118
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 65%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 16.9%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 23.2%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.1%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 35.2%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -40.4% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 2.2%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 17.8%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 80% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
cotton, fruits, vegetables, bananas, coconuts, cucumbers, mangoes, sugarcane; livestock

Industries:
tourism, construction, light manufacturing (clothing, alcohol, household appliances)

Industrial production growth rate:
3.2% (2016 est.)
country comparison to the world: 74
[see also: Industrial production growth rate country ranks ]

Labor force:
30,000 (1991)
country comparison to the world: 204
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 7%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 11%
[see also: Labor force - by occupation - industry country ranks ]
services: 82% (1983)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
11% (2014 est.)
country comparison to the world: 125
[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: $279.1 million
[see also: Budget revenues country ranks ]
expenditures: $301.7 million (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
21.4% of GDP (2016 est.)
country comparison to the world: 137
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-1.7% of GDP (2016 est.)
country comparison to the world: 64
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
89% of GDP (2012 est.) 130% of GDP (2010 est.)
country comparison to the world: 24
[see also: Public debt country ranks ]

Fiscal year:
1 April - 31 March

Inflation rate (consumer prices):
1.6% (2016 est.) 1% (2015 est.)
country comparison to the world: 96
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
6.5% (31 December 2010) 6.5% (31 December 2009)
country comparison to the world: 59
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
9.8% (31 December 2016 est.) 9.8% (31 December 2015 est.)
country comparison to the world: 85
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$275.9 million (31 December 2016 est.) $257.1 million (31 December 2015 est.)
country comparison to the world: 178
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$1.183 billion (31 December 2016 est.) $1.149 billion (31 December 2015 est.)
country comparison to the world: 169
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$888.9 million (31 December 2016 est.) $888.9 million (31 December 2015 est.)
country comparison to the world: 162
[see also: Stock of domestic credit country ranks ]

Current account balance:
-$122 million (2016 est.) -$129 million (2015 est.)
country comparison to the world: 70
[see also: Current account balance country ranks ]

Exports:
$61.7 million (2016 est.) $61 million (2015 est.)
country comparison to the world: 199
[see also: Exports country ranks ]

Exports - commodities:
petroleum products, bedding, handicrafts, electronic components, transport equipment, food and live animals

Imports:
$482.1 million (2016 est.) $482.5 million (2015 est.)
country comparison to the world: 194
[see also: Imports country ranks ]

Imports - commodities:
food and live animals, machinery and transport equipment, manufactures, chemicals, oil

Debt - external:
$441.2 million (31 December 2012) $458 million (June 2010)
country comparison to the world: 182
[see also: Debt - external country ranks ]

Exchange rates:
East Caribbean dollars (XCD) per US dollar - 2.7 (2016 est.) 2.7 (2015 est.) 2.7 (2014 est.) 2.7 (2013 est.) 2.7 (2012 est.)


NOTE: The information regarding Antigua and Barbuda on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Antigua and Barbuda Economy 2017 information contained here. All suggestions for corrections of any errors about Antigua and Barbuda Economy 2017 should be addressed to the CIA.




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