Anguilla Economy - 2022

GEOGRAPHICAL NAMES 

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 (purchasing power parity)

$175.4 million (2009 est.)

$191.7 million (2008 est.)

$108.9 million (2004 est.)

Real GDP growth rate

-8.5% (2009 est.)

Real GDP per capita

$12,200 (2008 est.)

GDP (official exchange rate)

$175.4 million (2009 est.)

Inflation rate (consumer prices)

1.3% (2017 est.)

-0.6% (2016 est.)

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.)

Labor force

6,049 (2001)

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)

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.)

Budget surplus (+) or deficit (-)

0.9% (of GDP) (2017 est.)

Public debt

20.1% of GDP (2015 est.)

20.8% of GDP (2014 est.)

Taxes and other revenues

46.7% (of GDP) (2017 est.)

Fiscal year

1 April - 31 March

Current account balance

-$23.2 million (2017 est.)

-$25.3 million (2016 est.)

Exports

$7.9 million (2017 est.)

$3.9 million (2016 est.)

note: Data are in current year dollars and do not include illicit exports or re-exports.

Exports - commodities

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

Imports

$186.2 million (2017 est.)

$170.1 million (2016 est.)

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.)

Debt - external

$41.04 million (31 December 2013)

$8.8 million (1998)

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 2022 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Anguilla 2022 information contained here. All suggestions for corrections of any errors about Anguilla 2022 should be addressed to the CIA or the source cited on each page.