Montserrat Economy - 2023

GEOGRAPHICAL NAMES 

Economic overview

formerly high-income economy; volcanic activity destroyed much of original infrastructure and economy; new capital and port is being developed; key geothermal and solar power generation; key music recording operations

Real GDP (purchasing power parity)

$167.4 million (2011 est.)

$155.9 million (2010 est.)

$162.7 million (2009 est.)

Real GDP growth rate

7.4% (2011 est.)

-4.2% (2010 est.)

Real GDP per capita

$34,000 (2011 est.)

$31,100 (2010 est.)

$32,300 (2009 est.)

GDP (official exchange rate)

$167.4 million (2011 est.)

Inflation rate (consumer prices)

1.2% (2017 est.)

-0.2% (2016 est.)

Credit ratings

Standard & Poors rating: BBB- (2020)

note: The year refers to the year in which the current credit rating was first obtained.

GDP - composition, by sector of origin

agriculture: 1.9% (2017 est.)

industry: 7.8% (2017 est.)

services: 90.3% (2017 est.)

GDP - composition, by end use

household consumption: 90.8% (2017 est.)

government consumption: 50.4% (2017 est.)

investment in fixed capital: 17.9% (2017 est.)

investment in inventories: -0.1% (2017 est.)

exports of goods and services: 29.5% (2017 est.)

imports of goods and services: -88.6% (2017 est.)

Agricultural products

cabbages, carrots, cucumbers, tomatoes, onions, peppers; livestock products

Industries

tourism, rum, textiles, electronic appliances

Industrial production growth rate

-21% (2017 est.)

Labor force

4,521 (2012)

Labor force - by occupation

agriculture: 1.4%

industry: 12.7%

services: 85.9% (2017 est.)

Unemployment rate

5.6% (2017 est.)

6% (1998 est.)

Population below poverty line

N/A

Household income or consumption by percentage share

lowest 10%: NA

highest 10%: NA

Budget

revenues: $66.67 million (2017 est.)

expenditures: $47.04 million (2017 est.)

Fiscal year

1 April - 31 March

Current account balance

-$15.4 million (2017 est.)

-$12.2 million (2016 est.)

Exports

$11.9 million (2021 est.)

$4.4 million (2017 est.)

$5.2 million (2016 est.)

Exports - partners

Canada 48%, United States 14%, Belgium 14%, France 11%, Cost Rica 3% (2021)

Exports - commodities

iron products, needles and catheters, sand, dental filling pharmaceuticals, gravel (2021)

Imports

$15.3 million (2021 est.)

$39.44 million (2017 est.)

$36.1 million (2016 est.)

Imports - partners

United States 47%, Trinidad and Tobago 19%, United Kingdom 9%, Barbados 3%, Japan 2% (2021)

Imports - commodities

refined petroleum, food preparations, cars, broadcasting equipment, poultry (2021)

Reserves of foreign exchange and gold

$47.58 million (31 December 2017 est.)

$51.47 million (31 December 2015 est.)

Debt - external

$8.9 million (1997)

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 Montserrat on this page is re-published from the 2023 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Montserrat 2023 information contained here. All suggestions for corrections of any errors about Montserrat 2023 should be addressed to the CIA or the source cited on each page.