Economy - overviewTourism is the primary economic activity, accounting for more than 70% of GDP and 70% of employment. The islands normally host 2 million visitors a year. The manufacturing sector consists of petroleum refining, textile, electronics, pharmaceutical, and watch assembly plants. The agricultural sector is small, with most food being imported. International business and financial services are a small but growing component of the economy. One of the world's largest petroleum refineries is at Saint Croix. The islands are subject to substantial damage from storms. GDP (purchasing power parity)purchasing power parity - $1.8 billion (1999 est.) GDP - real growth rateNA% GDP - per capita (PPP)purchasing power parity - $15,000 (1999 est.) GDP - composition by sectoragriculture:NA% Population below poverty lineNA% Household income or consumption by percentage sharelowest 10%:NA% Inflation rate (consumer prices)NA% Labor force47,443 (1990 est.) Labor force - by occupationagriculture 1%, industry 20%, services 79% (1990 est.) Unemployment rate4.9% (March 1999) Budgetrevenues:$364.4 million Industriestourism, petroleum refining, watch assembly, rum distilling, construction, pharmaceuticals, textiles, electronics Industrial production growth rateNA% Electricity - production1.019 billion kWh (1998) Electricity - production by sourcefossil fuel:100% Electricity - consumption948 million kWh (1998) Electricity - exports0 kWh (1998) Electricity - imports0 kWh (1998) Agriculture - productsfruit, vegetables, sorghum; Senepol cattle Exports$NA Exports - commoditiesrefined petroleum products Exports - partnersUS, Puerto Rico Imports$NA Imports - commoditiescrude oil, foodstuffs, consumer goods, building materials Imports - partnersUS, Puerto Rico Debt - external$NA Economic aid - recipient$NA Currency1 United States dollar (US$) = 100 cents Exchange ratesUS currency is used Fiscal year1 October - 30 September |
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Source: CIA World Factbook | |