Anguilla Economy - 2021


SOURCE: 2021 CIA WORLD FACTBOOK

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Economic overview

Anguilla has few natural resources, is unsuited for agriculture, and the economy depends heavily on luxury tourism, offshore banking, lobster fishing, and remittances from emigrants. Increased activity in the tourism industry has spurred the growth of the construction sector contributing to economic growth. Anguillan officials have put substantial effort into developing the offshore financial sector, which is small but growing. In the medium term, prospects for the economy will depend largely on the recovery of the tourism sector and, therefore, on revived income growth in the industrialized nations as well as on favorable weather conditions.

Real GDP growth rate

-8.5% (2009 est.)

country comparison to the world: 220

Inflation rate (consumer prices)

1.3% (2017 est.)

-0.6% (2016 est.)

country comparison to the world: 77

Real GDP (purchasing power parity)

$175.4 million (2009 est.)

$191.7 million (2008 est.)

$108.9 million (2004 est.)

country comparison to the world: 222

GDP (official exchange rate)

$175.4 million (2009 est.)

Real GDP per capita

$12,200 (2008 est.)

country comparison to the world: 132

GDP - composition, by sector of origin

agriculture: 3% (2017 est.)

industry: 10.5% (2017 est.)

services: 86.4% (2017 est.)

GDP - composition, by end use

household consumption: 74.1% (2017 est.)

government consumption: 18.3% (2017 est.)

investment in fixed capital: 26.8% (2017 est.)

investment in inventories: 0% (2017 est.)

exports of goods and services: 48.2% (2017 est.)

imports of goods and services: -67.4% (2017 est.)

Agricultural products

small quantities of tobacco, vegetables; cattle raising

Industries

tourism, boat building, offshore financial services

Industrial production growth rate

4% (2017 est.)

country comparison to the world: 75

Labor force

6,049 (2001)

country comparison to the world: 218

Labor force - by occupation

agriculture: 74.1%

industry: 3%

services: 18%

agriculture/fishing/forestry/mining: 4% (2000 est.)

manufacturing: 3% (2000 est.)

construction: 18% (2000 est.)

transportation and utilities: 10% (2000 est.)

commerce: 36% (2000 est.)

Unemployment rate

8% (2002)

country comparison to the world: 124

Population below poverty line

23% (2002 est.)

Household income or consumption by percentage share

lowest 10%: NA

highest 10%: NA

Budget

revenues: 81.92 million (2017 est.)

expenditures: 80.32 million (2017 est.)

Taxes and other revenues

46.7% (of GDP) (2017 est.)

country comparison to the world: 19

Budget surplus (+) or deficit (-)

0.9% (of GDP) (2017 est.)

country comparison to the world: 34

Public debt

20.1% of GDP (2015 est.)

20.8% of GDP (2014 est.)

country comparison to the world: 189

Fiscal year

1 April - 31 March

Current account balance

-$23.2 million (2017 est.)

-$25.3 million (2016 est.)

country comparison to the world: 73

Exports

$7.9 million (2017 est.)

$3.9 million (2016 est.)

country comparison to the world: 216

Exports - commodities

lobster, fish, livestock, salt, concrete blocks, rum

Imports

$186.2 million (2017 est.)

$170.1 million (2016 est.)

country comparison to the world: 211

Imports - commodities

fuels, foodstuffs, manufactures, chemicals, trucks, textiles

Reserves of foreign exchange and gold

$76.38 million (31 December 2017 est.)

$48.14 million (31 December 2015 est.)

country comparison to the world: 183

Debt - external

$41.04 million (31 December 2013)

$8.8 million (1998)

country comparison to the world: 195

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: The information regarding Anguilla on this page is re-published from the 2021 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Anguilla 2021 information contained here. All suggestions for corrections of any errors about Anguilla 2021 should be addressed to the CIA or the source cited on each page.

This page was last modified 16 Dec 23, Copyright © 2023 ITA all rights reserved.