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Virgin Islands:
Economy

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Other pages in this profile of the Virgin Islands:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
Economy - overview
Definition
Tourism is the primary economic activity, accounting for 80% of GDP and employment. The islands hosted 2.6 million visitors in 2005. The manufacturing sector consists of petroleum refining, textiles, electronics, pharmaceuticals, and watch assembly. One of the world's largest petroleum refineries is at Saint Croix. The agricultural sector is small, with most food being imported. International business and financial services are small but growing components of the economy. The islands are vulnerable to substantial damage from storms. The government is working to improve fiscal discipline, to support construction projects in the private sector, to expand tourist facilities, to reduce crime, and to protect the environment.
GDP (purchasing power parity)
Definition - World rank and map
$1.577 billion (2004 est.)
GDP (official exchange rate)
Definition
$NA
GDP - real growth rate
Definition - World rank and map
2% (2002 est.)
GDP - per capita
Definition - World rank and map
$14,500 (2004 est.)
GDP - composition by sector
Definition
agriculture: 1%
industry: 19%
services: 80% (2003 est.)
Labor force
Definition
43,980 (2004 est.)
Labor force - by occupation
Definition
agriculture: 1%
industry: 19%
services: 80% (2003 est.)
Unemployment rate
Definition - World rank and map
6.2% (2004)
Population below poverty line
Definition
28.9% (2002)
Household income or consumption by percentage share
Definition
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
Definition - World rank and map
2.2% (2003)
Budget
Definition
revenues: $NA
expenditures: $NA
Agriculture - products
Definition
fruit, vegetables, sorghum; Senepol cattle
Industries
Definition
tourism, petroleum refining, watch assembly, rum distilling, construction, pharmaceuticals, textiles, electronics
Industrial production growth rate
Definition - World rank and map
NA%
Electricity - production
Definition - World rank and map
996.1 million kWh (2005)
Electricity - consumption
Definition - World rank and map
926.4 million kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
8,561.2 kWh (2005)
Electricity - exports
Definition
0 kWh (2005)
Electricity - imports
Definition
0 kWh (2005)
Oil - production
Definition - World rank and map
17,620 bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
98,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
905.6 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
397,400 bbl/day (2004)
Oil - imports
Definition - World rank and map
493,000 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
NA
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.)
Exports
Definition - World rank and map
$4.234 billion (2001)
Exports - commodities
Definition
refined petroleum products
Exports - partners
Definition
US, Puerto Rico (2006)
Imports
Definition - World rank and map
$4.609 billion (2001)
Imports - commodities
Definition
crude oil, foodstuffs, consumer goods, building materials
Imports - partners
Definition
US, Puerto Rico (2006)
Debt - external
Definition - World rank and map
$NA
Economic aid - recipient
Definition
$NA
Currency (code)
Definition
US dollar (USD)
Exchange rates
Definition
the US dollar is used
Fiscal year
Definition
1 October - 30 September


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