Economy - overview: Antigua and Barbuda's economy is service-based, with tourism and government services representing the key sources of employment and income. Tourism accounts directly or indirectly for more than half of GDP and is also the principal earner of foreign exchange in Antigua and Barbuda. However, a series of violent hurricanes since 1995 resulted in serious damage to tourist infrastructure and periods of sharp reductions in visitor numbers. In 1999 the budding offshore financial sector was seriously hurt by financial sanctions imposed by the United States and United Kingdom as a result of the loosening of its money-laundering controls. The government has made efforts to comply with international demands in order to get the sanctions lifted. The dual island nation's agricultural production is mainly directed to the domestic market; the sector is constrained by the limited water supply and labor shortages that reflect the pull of higher wages in tourism and construction. Manufacturing comprises enclave-type assembly for export with major products being bedding, handicrafts, and electronic components. Prospects for economic growth in the medium term will continue to depend on income growth in the industrialized world, especially in the US, which accounts for about one-third of all tourist arrivals. Estimated overall economic growth for 2000 was 2.5%. Inflation has trended down going from above 2 percent in the 1995-99 period and estimated at 0 percent in 2000.
To lessen its vulnerability to natural disasters, Antigua has been diversifying its economy. Transportation, communications and financial services are becoming important.
Antigua is a member of the Eastern Caribbean Currency Union[?] (ECCU). All members of the ECCU, The Eastern Caribbean Central Bank[?] (ECCB) issues a common currency for all members of the ECCU. The ECCB also manages monetary policy, and regulates and supervises commercial banking activities in its member countries.
Antigua and Barbuda is a beneficiary of the U.S. Caribbean Basin Initiative. Its 1998 exports to the U.S. were valued at aboutUS $3 million and its U.S. imports totaled about US $84 million. It also belongs to the predominantly English-speaking Caribbean Community and Common Market (CARICOM).
GDP: purchasing power parity - $524 million (1999 est.)
GDP - real growth rate: 2.8% (1999 est.)
GDP - per capita: purchasing power parity - $8,200 (1999 est.)
GDP - composition by sector:
agriculture:
4%
industry:
12.5%
services:
83.5% (1996 est.)
Population below poverty line: NA%
Household income or consumption by percentage share:
lowest 10%:
NA%
highest 10%:
NA%
Inflation rate (consumer prices): 1.6% (1999 est.)
Labor force: 30,000
Labor force - by occupation: commerce and services 82%, agriculture 11%, industry 7% (1983)
Unemployment rate: 7% (1999 est.)
Budget:
revenues:
$122.6 million
expenditures:
$141.2 million, including capital expenditures of $17.3 million (1997 est.)
Industries: tourism, construction, light manufacturing (clothing, alcohol, household appliances)
Industrial production growth rate: 6% (1997 est.)
Electricity - production: 90 million kWh (1998)
Electricity - production by source:
fossil fuel:
100%
hydro:
0%
nuclear:
0%
other:
0% (1998)
Electricity - consumption: 84 million kWh (1998)
Electricity - exports: 0 kWh (1998)
Electricity - imports: 0 kWh (1998)
Agriculture - products: cotton, fruits, vegetables, bananas, coconuts, cucumbers, mangoes, sugarcane; livestock
Exports: $38 million (1998)
Exports - commodities: petroleum products 48%, manufactures 23%, food and live animals 4%, machinery and transport equipment 17%
Exports - partners: OECS 26%, Barbados 15%, Guyana 4%, Trinidad and Tobago 2%, US 0.3%
Imports: $330 million (1998)
Imports - commodities: food and live animals, machinery and transport equipment, manufactures, chemicals, oil
Imports - partners: US 27%, UK 16%, Canada 4%, OECS 3%
Debt - external: $357 million (1998)
Economic aid - recipient: $2.3 million (1995)
Currency: 1 East Caribbean dollar (EC$) = 100 cents
Exchange rates: East Caribbean dollars (EC$) per US$1 - 2.7000 (fixed rate since 1976)
Fiscal year: 1 April - 31 March
Reference
Much of the material in this article comes from the CIA World Factbook 2000 and the 2003 U.S. Department of State website.Common misspelling and questions (FAQ)
conomy-of-antigua-and-barbuda eonomy-of-antigua-and-barbuda ecnomy-of-antigua-and-barbuda ecoomy-of-antigua-and-barbuda econmy-of-antigua-and-barbuda econoy-of-antigua-and-barbuda econom-of-antigua-and-barbuda economyof-antigua-and-barbuda economy-f-antigua-and-barbuda economy-o-antigua-and-barbuda economy-ofantigua-and-barbuda economy-of-ntigua-and-barbuda economy-of-atigua-and-barbuda economy-of-anigua-and-barbuda economy-of-antgua-and-barbuda economy-of-antiua-and-barbuda economy-of-antiga-and-barbuda economy-of-antigu-and-barbuda economy-of-antiguaand-barbuda economy-of-antigua-nd-barbuda economy-of-antigua-ad-barbuda economy-of-antigua-an-barbuda economy-of-antigua-andbarbuda economy-of-antigua-and-arbuda economy-of-antigua-and-brbuda economy-of-antigua-and-babuda economy-of-antigua-and-baruda economy-of-antigua-and-barbda economy-of-antigua-and-barbua economy-of-antigua-and-barbud ceonomy-of-antigua-and-barbuda eocnomy-of-antigua-and-barbuda ecnoomy-of-antigua-and-barbuda ecoonmy-of-antigua-and-barbuda econmoy-of-antigua-and-barbuda econoym-of-antigua-and-barbuda econom-yof-antigua-and-barbuda economyo-f-antigua-and-barbuda economy-fo-antigua-and-barbuda economy-o-fantigua-and-barbuda economy-ofa-ntigua-and-barbuda economy-of-natigua-and-barbuda economy-of-atnigua-and-barbuda economy-of-anitgua-and-barbuda economy-of-antgiua-and-barbuda economy-of-antiuga-and-barbuda economy-of-antigau-and-barbuda economy-of-antigu-aand-barbuda economy-of-antiguaa-nd-barbuda economy-of-antigua-nad-barbuda economy-of-antigua-adn-barbuda economy-of-antigua-an-dbarbuda economy-of-antigua-andb-arbuda economy-of-antigua-and-abrbuda economy-of-antigua-and-brabuda economy-of-antigua-and-babruda economy-of-antigua-and-barubda economy-of-antigua-and-barbdua economy-of-antigua-and-barbuad economy-of-antigua-and-barbud eeconomy-of-antigua-and-barbuda ecconomy-of-antigua-and-barbuda ecoonomy-of-antigua-and-barbuda econnomy-of-antigua-and-barbuda econoomy-of-antigua-and-barbuda econommy-of-antigua-and-barbuda economyy-of-antigua-and-barbuda economy--of-antigua-and-barbuda economy-oof-antigua-and-barbuda economy-off-antigua-and-barbuda economy-of--antigua-and-barbuda economy-of-aantigua-and-barbuda economy-of-anntigua-and-barbuda economy-of-anttigua-and-barbuda economy-of-antiigua-and-barbuda economy-of-antiggua-and-barbuda economy-of-antiguua-and-barbuda economy-of-antiguaa-and-barbuda economy-of-antigua--and-barbuda economy-of-antigua-aand-barbuda economy-of-antigua-annd-barbuda economy-of-antigua-andd-barbuda economy-of-antigua-and--barbuda economy-of-antigua-and-bbarbuda economy-of-antigua-and-baarbuda economy-of-antigua-and-barrbuda economy-of-antigua-and-barbbuda economy-of-antigua-and-barbuuda economy-of-antigua-and-barbudda economy-of-antigua-and-barbudaa 3conomy-of-antigua-and-barbuda wconomy-of-antigua-and-barbuda sconomy-of-antigua-and-barbuda 4conomy-of-antigua-and-barbuda dconomy-of-antigua-and-barbuda 4conomy-of-antigua-and-barbuda rconomy-of-antigua-and-barbuda dconomy-of-antigua-and-barbuda edonomy-of-antigua-and-barbuda exonomy-of-antigua-and-barbuda efonomy-of-antigua-and-barbuda efonomy-of-antigua-and-barbuda evonomy-of-antigua-and-barbuda ec9nomy-of-antigua-and-barbuda ecinomy-of-antigua-and-barbuda ecknomy-of-antigua-and-barbuda ec0nomy-of-antigua-and-barbuda eclnomy-of-antigua-and-barbuda ec0nomy-of-antigua-and-barbuda ecpnomy-of-antigua-and-barbuda eclnomy-of-antigua-and-barbuda ecohomy-of-antigua-and-barbuda ecobomy-of-antigua-and-barbuda ecojomy-of-antigua-and-barbuda ecojomy-of-antigua-and-barbuda ecomomy-of-antigua-and-barbuda econ9my-of-antigua-and-barbuda econimy-of-antigua-and-barbuda econkmy-of-antigua-and-barbuda econ0my-of-antigua-and-barbuda econlmy-of-antigua-and-barbuda econ0my-of-antigua-and-barbuda econpmy-of-antigua-and-barbuda econlmy-of-antigua-and-barbuda econojy-of-antigua-and-barbuda econony-of-antigua-and-barbuda econoky-of-antigua-and-barbuda econoky-of-antigua-and-barbuda econo,y-of-antigua-and-barbuda econom6-of-antigua-and-barbuda economt-of-antigua-and-barbuda economg-of-antigua-and-barbuda econom7-of-antigua-and-barbuda economh-of-antigua-and-barbuda econom7-of-antigua-and-barbuda economu-of-antigua-and-barbuda economh-of-antigua-and-barbuda economy0of-antigua-and-barbuda economypof-antigua-and-barbuda economy[of-antigua-and-barbuda economy-9f-antigua-and-barbuda economy-if-antigua-and-barbuda economy-kf-antigua-and-barbuda economy-0f-antigua-and-barbuda economy-lf-antigua-and-barbuda economy-0f-antigua-and-barbuda economy-pf-antigua-and-barbuda economy-lf-antigua-and-barbuda economy-or-antigua-and-barbuda economy-od-antigua-and-barbuda economy-oc-antigua-and-barbuda economy-ot-antigua-and-barbuda economy-ov-antigua-and-barbuda economy-ot-antigua-and-barbuda economy-og-antigua-and-barbuda economy-ov-antigua-and-barbuda economy-of0antigua-and-barbuda economy-ofpantigua-and-barbuda economy-of[antigua-and-barbuda economy-of-qntigua-and-barbuda economy-of-wntigua-and-barbuda economy-of-zntigua-and-barbuda economy-of-wntigua-and-barbuda economy-of-sntigua-and-barbuda economy-of-zntigua-and-barbuda economy-of-ahtigua-and-barbuda economy-of-abtigua-and-barbuda economy-of-ajtigua-and-barbuda economy-of-ajtigua-and-barbuda economy-of-amtigua-and-barbuda economy-of-an5igua-and-barbuda economy-of-anrigua-and-barbuda economy-of-anfigua-and-barbuda economy-of-an6igua-and-barbuda economy-of-angigua-and-barbuda economy-of-an6igua-and-barbuda economy-of-anyigua-and-barbuda economy-of-angigua-and-barbuda economy-of-ant8gua-and-barbuda economy-of-antugua-and-barbuda economy-of-antjgua-and-barbuda economy-of-ant9gua-and-barbuda economy-of-antkgua-and-barbuda economy-of-ant9gua-and-barbuda economy-of-antogua-and-barbuda economy-of-antkgua-and-barbuda economy-of-antitua-and-barbuda economy-of-antifua-and-barbuda economy-of-antivua-and-barbuda economy-of-antiyua-and-barbuda economy-of-antibua-and-barbuda economy-of-antiyua-and-barbuda economy-of-antihua-and-barbuda economy-of-antibua-and-barbuda economy-of-antig7a-and-barbuda economy-of-antigya-and-barbuda economy-of-antigha-and-barbuda economy-of-antig8a-and-barbuda economy-of-antigja-and-barbuda economy-of-antig8a-and-barbuda economy-of-antigia-and-barbuda economy-of-antigja-and-barbuda economy-of-antiguq-and-barbuda economy-of-antiguw-and-barbuda economy-of-antiguz-and-barbuda economy-of-antiguw-and-barbuda economy-of-antigus-and-barbuda economy-of-antiguz-and-barbuda economy-of-antigua0and-barbuda economy-of-antiguapand-barbuda economy-of-antigua[and-barbuda economy-of-antigua-qnd-barbuda economy-of-antigua-wnd-barbuda economy-of-antigua-znd-barbuda economy-of-antigua-wnd-barbuda economy-of-antigua-snd-barbuda economy-of-antigua-znd-barbuda economy-of-antigua-ahd-barbuda economy-of-antigua-abd-barbuda economy-of-antigua-ajd-barbuda economy-of-antigua-ajd-barbuda economy-of-antigua-amd-barbuda economy-of-antigua-ane-barbuda economy-of-antigua-ans-barbuda economy-of-antigua-anx-barbuda economy-of-antigua-anr-barbuda economy-of-antigua-anc-barbuda economy-of-antigua-anr-barbuda economy-of-antigua-anf-barbuda economy-of-antigua-anc-barbuda economy-of-antigua-and0barbuda economy-of-antigua-andpbarbuda economy-of-antigua-and[barbuda economy-of-antigua-and-garbuda economy-of-antigua-and-varbuda economy-of-antigua-and-harbuda economy-of-antigua-and-harbuda economy-of-antigua-and-narbuda economy-of-antigua-and-bqrbuda economy-of-antigua-and-bwrbuda economy-of-antigua-and-bzrbuda economy-of-antigua-and-bwrbuda economy-of-antigua-and-bsrbuda economy-of-antigua-and-bzrbuda economy-of-antigua-and-ba4buda economy-of-antigua-and-baebuda economy-of-antigua-and-badbuda economy-of-antigua-and-ba5buda economy-of-antigua-and-bafbuda economy-of-antigua-and-ba5buda economy-of-antigua-and-batbuda economy-of-antigua-and-bafbuda economy-of-antigua-and-barguda economy-of-antigua-and-barvuda economy-of-antigua-and-barhuda economy-of-antigua-and-barhuda economy-of-antigua-and-barnuda economy-of-antigua-and-barb7da economy-of-antigua-and-barbyda economy-of-antigua-and-barbhda economy-of-antigua-and-barb8da economy-of-antigua-and-barbjda economy-of-antigua-and-barb8da economy-of-antigua-and-barbida economy-of-antigua-and-barbjda economy-of-antigua-and-barbuea economy-of-antigua-and-barbusa economy-of-antigua-and-barbuxa economy-of-antigua-and-barbura economy-of-antigua-and-barbuca economy-of-antigua-and-barbura economy-of-antigua-and-barbufa economy-of-antigua-and-barbuca economy-of-antigua-and-barbudq economy-of-antigua-and-barbudw economy-of-antigua-and-barbudz economy-of-antigua-and-barbudw economy-of-antigua-and-barbuds economy-of-antigua-and-barbudz economy-of-antygua-and-barbuda economy-of-anyigua-and-barbuda economy-of-antyigua-and-barbuda economy-of-antigua-and-barbudasWe have a new will at home to do what is realization of the dangers before us and from the confidence that together Corrected EDITIONS of our eBooks get a new NUMBER, sucar11.txt editions, all of which are confirmed as Public Domain in the US keep eBooks in compliance with any particular paper edition. We are now trying to release all our eBooks one year in advance Please be encouraged to tell us about any error or corrections, midnight of the last day of the month of any such announcement. Midnight, Central Time, of the last day of the stated month. A and editing by those who wish to do so. Most people start at our Web sites at: http://promo.net/pg These Web sites include award-winning information about Project eBooks, and how to subscribe to our email newsletter (free!). can get to them as follows, and just download by date. This is indexes our cataloguers produce obviously take a while after an ftp://ftp.ibiblio.org/pub/docs/books/gutenberg/etext04 Or /etext03, 02, 01, 00, 99, 98, 97, 96, 95, 94, 93, 92, 92, 91 or 90 Just search by the first five letters of the filename you.