Antigua and Barbuda Economy - 2024

Economic overview

dual island-tourism and construction-driven economy; emerging “blue economy”; limited water supply and susceptibility to hurricanes limit activity; improving road infrastructure; friendly to foreign direct investment; looking at financial innovation in cryptocurrency and blockchain technologies

Real GDP (purchasing power parity)

$1.783 billion (2021 est.)
$1.693 billion (2020 est.)
$2.122 billion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

5.27% (2021 est.)
-20.19% (2020 est.)
4.86% (2019 est.)

Real GDP per capita

$19,100 (2021 est.)
$18,300 (2020 est.)
$23,000 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$1.524 billion (2017 est.)

Inflation rate (consumer prices)

2.06% (2021 est.)
0.63% (2020 est.)
1.43% (2019 est.)

GDP - composition, by sector of origin

agriculture: 1.8% (2017 est.)

industry: 20.8% (2017 est.)

services: 77.3% (2017 est.)

GDP - composition, by end use

household consumption: 53.5% (2017 est.)

government consumption: 15.2% (2017 est.)

investment in fixed capital: 23.9% (2017 est.)

investment in inventories: 0.1% (2017 est.)

exports of goods and services: 73.9% (2017 est.)

imports of goods and services: -66.5% (2017 est.)

Agricultural products

tropical fruit, milk, mangoes/guavas, melons, tomatoes, pineapples, lemons, limes, eggplants, onions

Industries

tourism, construction, light manufacturing (clothing, alcohol, household appliances)

Industrial production growth rate

8.26% (2021 est.)

Labor force

30,000 (1991)

Unemployment rate

11% (2014 est.)

Population below poverty line

N/A

Household income or consumption by percentage share

lowest 10%: NA

highest 10%: NA

Remittances

3.41% of GDP (2021 est.)
2.65% of GDP (2020 est.)
2.19% of GDP (2019 est.)

Budget

revenues: $278 million (2020 est.)

expenditures: $357 million (2020 est.)

Budget surplus (+) or deficit (-)

-2.4% (of GDP) (2017 est.)

Public debt

86.8% of GDP (2017 est.)
86.2% of GDP (2016 est.)

Taxes and other revenues

19.6% (of GDP) (2017 est.)

Fiscal year

1 April - 31 March

Current account balance

-$220.871 million (2021 est.)
-$251.556 million (2020 est.)
-$126.907 million (2019 est.)

Exports

$749.476 million (2021 est.)
$590.849 million (2020 est.)
$1.196 billion (2019 est.)

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

Exports - partners

Suriname 20%, Barbados 17%, Poland 12%, United Kingdom 10%, France 7% (2021)

Exports - commodities

refined petroleum, ships, gas turbines, aircraft parts, lobster, durum wheat (2021)

Imports

$868.797 million (2021 est.) note: data are in current year dollars
$737.693 million (2020 est.)
$1.18 billion (2019 est.)

Imports - partners

United States 42%, Poland 25%, China 10%, Brazil 3%, Trinidad and Tobago 2% (2021)

Imports - commodities

refined petroleum, ships, recreational boats, cars, poultry  (2021)

Reserves of foreign exchange and gold

$367.512 million (31 December 2021 est.)
$221.809 million (31 December 2020 est.)
$279.133 million (31 December 2019 est.)

Debt - external

$441.2 million (31 December 2012)
$458 million (June 2010)

Exchange rates

East Caribbean dollars (XCD) per US dollar -

Exchange rates:
2.7 (2021 est.)
2.7 (2020 est.)
2.7 (2019 est.)
2.7 (2018 est.)
2.7 (2017 est.)