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.

Like other countries in the region, Antigua's economy was severely hit by effects of the global economic recession in 2009. The country 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. Antigua has not yet returned to its pre-crisis growth levels. Barbuda suffered significant damages after hurricanes Irma and Maria passed through the Caribbean in 2017.

Prospects for economic growth in the medium term will continue to depend on tourist arrivals from the US, Canada, and Europe and could be disrupted by potential damage from natural disasters. The new government, elected in 2014 and led by Prime Minister Gaston Browne, continues to face significant fiscal challenges. The government places some hope in a new Citizenship by Investment Program, to both reduce public debt levels and spur growth, and a resolution of a WTO dispute with the US.

GDP (purchasing power parity):
$2.398 billion (2017 est.)
$2.334 billion (2016 est.)
$2.215 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 194
[see also: GDP country ranks ]

GDP (official exchange rate):
$1.524 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.8% (2017 est.)
5.3% (2016 est.)
4.1% (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 120
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$26,400 (2017 est.)
$25,900 (2016 est.)
$24,900 (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 78
[see also: GDP - per capita country ranks ]

Gross national saving:
17.3% of GDP (2017 est.)
24.5% of GDP (2016 est.)
30.7% of GDP (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 115
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 53.5% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 15.2% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 23.9% (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: 73.9% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -66.5% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 1.8% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 20.8% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 77.3% (2017 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:
6.8% (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 32
[see also: Industrial production growth rate country ranks ]

Labor force:
30,000 (1991)
country comparison to the world (CIA rank, may be based on non-current data): 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 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
11% (2014 est.)
country comparison to the world (CIA rank, may be based on non-current data): 148
[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: 298.2 million (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 334 million (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
19.6% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 154
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.4% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 112
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
86.8% of GDP (2017 est.)
86.2% of GDP (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 30
[see also: Public debt country ranks ]

Fiscal year:
1 April - 31 March

Inflation rate (consumer prices):
2.5% (2017 est.)
-0.5% (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 122
[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 (CIA rank, may be based on non-current data): 56
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
9.31% (31 December 2017 est.)
9.58% (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 92
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$349.2 million (31 December 2017 est.)
$293 million (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 178
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$349.2 million (31 December 2017 est.)
$293 million (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 182
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$909.6 million (31 December 2017 est.)
$913 million (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 169
[see also: Stock of domestic credit country ranks ]

Current account balance:
-$112 million (2017 est.)
$2 million (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 88
[see also: Current account balance country ranks ]

Exports:
$86.7 million (2017 est.)
$56.5 million (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 198
[see also: Exports country ranks ]

Exports - partners:
Poland 62.2%, Cameroon 9.5%, US 5.1%, UK 4.5% (2017)

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

Imports:
$560 million (2017 est.)
$503.4 million (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 198
[see also: Imports country ranks ]

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

Imports - partners:
US 48%, Spain 4.2% (2017)

Debt - external:
$441.2 million (31 December 2012)
$458 million (June 2010)
country comparison to the world (CIA rank, may be based on non-current data): 181
[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.)