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Montserrat Economy 2019

SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES











Montserrat Economy 2019
SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 08, 2019

Economy - overview:
Severe volcanic activity, which began in July 1995, has put a damper on this small, open economy. A catastrophic eruption in June 1997 closed the airport and seaports, causing further economic and social dislocation. Two-thirds of the 12,000 inhabitants fled the island. Some began to return in 1998 but lack of housing limited the number. The agriculture sector continued to be affected by the lack of suitable land for farming and the destruction of crops.

Prospects for the economy depend largely on developments in relation to the volcanic activity and on public sector construction activity. Half of the island remains uninhabitable. In January 2013, the EU announced the disbursement of a $55.2 million aid package to Montserrat in order to boost the country's economic recovery, with a specific focus on public finance management, public sector reform, and prudent economic management. Montserrat is tied to the EU through the UK. Although the UK is leaving the EU, Montserrat’s aid will not be affected as Montserrat maintains a direct agreement with the EU regarding aid.

GDP (purchasing power parity):
$167.4 million (2011 est.)
$155.9 million (2010 est.)
$162.7 million (2009 est.)
country comparison to the world: 223
[see also: GDP country ranks ]

GDP (official exchange rate):
$167.4 million (2011 est.) (2011 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
7.4% (2011 est.)
-4.2% (2010 est.)
country comparison to the world: 15
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$34,000 (2011 est.)
$31,100 (2010 est.)
$32,300 (2009 est.)
country comparison to the world: 60
[see also: GDP - per capita country ranks ]

GDP - composition, by end use:
household consumption: 90.8% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 50.4% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 17.9% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.1% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 29.5% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -88.6% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 1.9% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 7.8% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 90.3% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
cabbages, carrots, cucumbers, tomatoes, onions, peppers; livestock products

Industries:
tourism, rum, textiles, electronic appliances

Industrial production growth rate:
-21% (2017 est.)
country comparison to the world: 200
[see also: Industrial production growth rate country ranks ]

Labor force:
4,521 (2012)
country comparison to the world: 222
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 1.4%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 12.7%
[see also: Labor force - by occupation - industry country ranks ]
services: 85.9% (2017 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
5.6% (2017 est.)
6% (1998 est.)
country comparison to the world: 83
[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: 66.67 million (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 47.04 million (2017 est.)
[see also: Budget - expenditures country ranks ]

Fiscal year:
1 April - 31 March

Inflation rate (consumer prices):
1.2% (2017 est.)
-0.2% (2016 est.)
country comparison to the world: 66
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
10.99% (31 December 2010)
6.5% (31 December 2009)
country comparison to the world: 20
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
6.95% (31 December 2017 est.)
7.21% (31 December 2016 est.)
country comparison to the world: 120
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$28.33 million (31 December 2017 est.)
$23.04 million (31 December 2016 est.)
country comparison to the world: 192
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$28.33 million (31 December 2017 est.)
$23.04 million (31 December 2016 est.)
country comparison to the world: 195
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$5.185 million (31 December 2017 est.)
$1.481 million (31 December 2016 est.)
country comparison to the world: 190
[see also: Stock of domestic credit country ranks ]

Current account balance:
-$15.4 million (2017 est.)
-$12.2 million (2016 est.)
country comparison to the world: 71
[see also: Current account balance country ranks ]

Exports:
$4.4 million (2017 est.)
$5.2 million (2016 est.)
country comparison to the world: 218
[see also: Exports country ranks ]

Exports - partners:
US 29%, France 23%, Saint Kitts and Nevis 22.2% (2017)

Exports - commodities:
electronic components, plastic bags, apparel; hot peppers, limes, live plants; cattle

Imports:
$39.44 million (2017 est.)
$36.1 million (2016 est.)
country comparison to the world: 220
[see also: Imports country ranks ]

Imports - commodities:
machinery and transportation equipment, foodstuffs, manufactured goods, fuels, lubricants

Imports - partners:
US 72.8%, Trinidad and Tobago 6%, UK 4.1% (2017)

Reserves of foreign exchange and gold:
$47.58 million (31 December 2017 est.)
$51.47 million (31 December 2015 est.)
country comparison to the world: 187
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$8.9 million (1997)
country comparison to the world: 200
[see also: Debt - external country ranks ]

Exchange rates:
East Caribbean dollars (XCD) per US dollar -
2.7 (2017 est.)
2.7 (2016 est.)
2.7 (2015 est.)
2.7 (2014 est.)
2.7 (2013 est.)


NOTE: 1) The information regarding Montserrat on this page is re-published from the 2019 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Montserrat Economy 2019 information contained here. All suggestions for corrections of any errors about Montserrat Economy 2019 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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