Montserrat Economy - 2024

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)

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 -

Exchange rates:
2.7 (2017 est.)
2.7 (2016 est.)
2.7 (2015 est.)
2.7 (2014 est.)
2.7 (2013 est.)