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Anguilla Economy Profile

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Economy - 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.
GDP (purchasing power parity)
$175.4 million (2009 est.)
$191.7 million (2008 est.)
$108.9 million (2004 est.)
GDP (official exchange rate)
$175.4 million (2009 est.)
GDP - real growth rate
-8.5% (2009 est.)
GDP - per capita (PPP)
$12,200 (2008 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.)
GDP - composition by sector
agriculture: 3% (2017 est.)
industry: 10.5% (2017 est.)
services: 86.4% (2017 est.)
Population below poverty line
23% (2002 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)
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.)
Taxes and other revenues
46.7% (of GDP) (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.)
Inflation rate (consumer prices)
1.3% (2017 est.)
-0.6% (2016 est.)
Central bank discount rate
6.5% (31 December 2010)
6.5% (31 December 2009)
Commercial bank prime lending rate
9.48% (31 December 2017 est.)
9.01% (31 December 2016 est.)
Stock of narrow money
$25.37 million (31 December 2017 est.)
$23.74 million (31 December 2016 est.)
Stock of broad money
$25.37 million (31 December 2017 est.)
$23.74 million (31 December 2016 est.)
Stock of domestic credit
$218.5 million (31 December 2017 est.)
$209.1 million (31 December 2016 est.)
Agriculture - products
small quantities of tobacco, vegetables; cattle raising
Industries
tourism, boat building, offshore financial services
Industrial production growth rate
4% (2017 est.)
Current Account Balance
-$23.2 million (2017 est.)
-$25.3 million (2016 est.)
Exports
$7.9 million (2017 est.)
$3.9 million (2016 est.)
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.)
Fiscal year
1 April - 31 March

Source: CIA World Factbook
This page was last updated on Friday, November 27, 2020