unbekannter Gast

Antigua and Barbuda: Economy#

Tourism continues to dominate Antigua and Barbuda's economy, accounting for nearly 60% of GDP and 40% of investment. The dual-island nation's agricultural production is focused on the domestic market and constrained by a limited water supply and a labor shortage stemming from the lure 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 tourist arrivals from the US, Canada, and Europe and potential damages from natural disasters. After taking office in 2004, the SPENCER government adopted an ambitious fiscal reform program and was successful in reducing its public debt-to-GDP ratio from approximately 130% in 2010 to 89% in 2012. In 2009, Antigua's economy was severely hit by the global economic crisis and suffered from the collapse of its largest private sector employer, a steep decline in tourism, a rise in debt, and a sharp economic contraction between 2009-11. Antigua has not yet returned to its pre-crisis growth levels.

Economic Facts#

GDP (purchasing power parity)$1.61 billion (2013 est.)
$1.583 billion (2012 est.)
$1.558 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate1.7% (2013 est.)
1.6% (2012 est.)
-3% (2011 est.)
GDP - per capita (PPP)$18,400 (2013 est.)
$18,100 (2012 est.)
$17,800 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 2.2%
industry: 16.4%
services: 81.4% (2013 est.)
Population below poverty lineNA%
Household income or consumption by percentage sharelowest 10%: NA%
highest 10%: NA%
Labor force - by occupationagriculture: 7%
industry: 11%
services: 82% (1983)
Exports - commoditiespetroleum products, bedding, handicrafts, electronic components, transport equipment, food and live animals
Agriculture - productscotton, fruits, vegetables, bananas, coconuts, cucumbers, mangoes, sugarcane; livestock
Budgetrevenues: $239.5 million
expenditures: $248.7 million (2012 est.)
Imports - commoditiesfood and live animals, machinery and transport equipment, manufactures, chemicals, oil
Exchange ratesEast Caribbean dollars (XCD) per US dollar -
2.7 (2013 est.)
2.7 (2012 est.)
2.7 (2010 est.)
2.7 (2009)
Exports$55 million (2013 est.)
$56.7 million (2012 est.)
Debt - external$441.2 million (31 December 2012)
$458 million (June 2010)
Fiscal year1 April - 31 March
Imports$340.8 million (2013 est.)
$402.7 million (2012 est.)
Industrial production growth rate1% (2013 est.)
Industriestourism, construction, light manufacturing (clothing, alcohol, household appliances)
Inflation rate (consumer prices)3% (2013 est.)
3.4% (2012 est.)
Labor force30,000 (1991)
Unemployment rate11% (2001 est.)
Public debt89% of GDP (2012 est.)
130% of GDP (2010 est.)
Current account balance-$164.8 million (2013 est.)
-$78.5 million (2012 est.)
GDP (official exchange rate)$1.22 billion (2013 est.)
Central bank discount rate6.5% (31 December 2010 est.)
6.5% (31 December 2009 est.)
Commercial bank prime lending rate10.3% (31 December 2013 est.)
10.13% (31 December 2012 est.)
Stock of domestic credit$1.111 billion (31 December 2013 est.)
$1.111 billion (31 December 2012 est.)
Stock of narrow money$213 million (31 December 2013 est.)
$205.2 million (31 December 2012 est.)
Stock of broad money$1.044 billion (31 December 2013 est.)
$1.033 billion (31 December 2012 est.)
Taxes and other revenues19.6% of GDP (2012 est.)
Budget surplus (+) or deficit (-)-0.8% of GDP (2012 est.)
GDP - composition, by end usehousehold consumption: 55.8%
government consumption: 14.9%
investment in fixed capital: 28%
investment in inventories: 0.1%
exports of goods and services: 46.2%
imports of goods and services: -45%
(2013 est.)
Gross national saving18% of GDP (2013 est.)
18% of GDP (2012 est.)
18.4% of GDP (2011 est.)