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Saint Vincent and the Grenadines:
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Other pages in this profile of Saint Vincent and the Grenadines:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
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Economy - overview |
Definition Economic growth slowed slightly in 2007 after reaching a 10 year high of nearly 7% in 2006, but is expected to remain robust, hinging upon seasonal variations in the agricultural and tourism sectors and a recent increase in construction activity. This lower-middle-income country is vulnerable to natural disasters - tropical storms wiped out substantial portions of crops in 1994, 1995, and 2002. In 2007, the islands had more than 200,000 tourist arrivals, mostly to the Grenadines. Saint Vincent is home to a small offshore banking sector and has moved to adopt international regulatory standards. The government's ability to invest in social programs and respond to external shocks is constrained by its high debt burden - 25 percent of current revenues are directed towards debt servicing. |
GDP (purchasing power parity) |
Definition - World rank and map $1.042 billion (2007 est.) |
GDP (official exchange rate) |
Definition $559 million (2007 est.) |
GDP - real growth rate |
Definition - World rank and map 6.6% (2007 est.) |
GDP - per capita |
Definition - World rank and map $9,800 (2007 est.) |
GDP - composition by sector |
Definition agriculture: 10% industry: 26% services: 64% (2001 est.) |
Labor force |
Definition 41,680 (1991 est.) |
Labor force - by occupation |
Definition agriculture: 26% industry: 17% services: 57% (1980 est.) |
Unemployment rate |
Definition - World rank and map 15% (2001 est.) |
Population below poverty line |
Definition NA% |
Household income or consumption by percentage share |
Definition lowest 10%: NA% highest 10%: NA% |
Inflation rate (consumer prices) |
Definition - World rank and map 6.1% (2007 est.) |
Budget |
Definition revenues: $94.6 million expenditures: $85.8 million (2000 est.) |
Agriculture - products |
Definition bananas, coconuts, sweet potatoes, spices; small numbers of cattle, sheep, pigs, goats; fish |
Industries |
Definition food processing, cement, furniture, clothing, starch |
Industrial production growth rate |
Definition - World rank and map -0.9% (1997 est.) |
Electricity - production |
Definition - World rank and map 115 million kWh (2005) |
Electricity - consumption |
Definition - World rank and map 107 million kWh (2005) |
Electricity - consumption per capita |
Definition - World rank and map 903.5 kWh (2005) |
Electricity - exports |
Definition 0 kWh (2005) |
Electricity - imports |
Definition 0 kWh (2005) |
Oil - production |
Definition - World rank and map 0 bbl/day (2005 est.) |
Oil - consumption |
Definition - World rank and map 1,500 bbl/day (2005 est.) |
Oil - consumption per 1,000 people |
Definition - World rank and map 12.7 bbl/day (2005 est.) |
Oil - exports |
Definition - World rank and map 0 bbl/day (2004) |
Oil - imports |
Definition - World rank and map 1,468 bbl/day (2004) |
Oil - proved reserves |
Definition - World rank and map 0 bbl (1 January 2006 est.) |
Natural gas - production |
Definition - World rank and map 0 cu m (2005 est.) |
Natural gas - consumption |
Definition - World rank and map 0 cu m (2005 est.) |
Natural gas - consumption per capita |
Definition - World rank and map 0 cu m (2005 est.) |
Natural gas - exports |
Definition - World rank and map 0 cu m (2005 est.) |
Natural gas - imports |
Definition - World rank and map 0 cu m (2005) |
Natural gas - proved reserves |
Definition - World rank and map 0 cu m (1 January 2006 est.) |
Current account balance |
Definition - World rank and map -$149 million (2007 est.) |
Exports |
Definition - World rank and map $193 million (2006) |
Exports - commodities |
Definition bananas, eddoes and dasheen (taro), arrowroot starch; tennis racquets |
Exports - partners |
Definition Greece 25.4%, Italy 13%, France 10.7%, Russia 9.8%, UK 6.5%, Trinidad and Tobago 4.3%, Spain 4.1% (2006) |
Imports |
Definition - World rank and map $578 million (2006) |
Imports - commodities |
Definition foodstuffs, machinery and equipment, chemicals and fertilizers, minerals and fuels |
Imports - partners |
Definition Singapore 15.1%, Trinidad and Tobago 14.2%, Italy 12.6%, US 12.4%, China 4.6% (2006) |
Debt - external |
Definition - World rank and map $223 million (2004) |
Economic aid - recipient |
Definition $4.89 million (1995); note - EU $34.5 million (2005) |
Currency (code) |
Definition East Caribbean dollar (XCD) |
Exchange rates |
Definition East Caribbean dollars per US dollar - 2.7 (2007), 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003) |
Fiscal year |
Definition calendar year |
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