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Anguilla: Economy#

Anguilla has few natural resources, 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 tourism sector and, therefore, on revived income growth in the industrialized nations as well as on favorable weather conditions.

Economic Facts#

GDP (purchasing power parity)$175.4 million (2009 est.)
$191.7 million (2008 est.)
$108.9 million (2004 est.)
GDP - real growth rate-8.5% (2009 est.)
GDP - per capita (PPP)$12,200 (2008 est.)
GDP - composition, by sector of originagriculture: 2.5%
industry: 23.6%
services: 73.8% (2013 est.)
Population below poverty line23% (2002)
Household income or consumption by percentage sharelowest 10%: NA%
highest 10%: NA%
Labor force - by occupationagriculture/fishing/forestry/mining: 4%
manufacturing: 3%
construction: 18%
transportation and utilities: 10%
commerce: 36%
services: 29% (2000 est.)
Exports - commoditieslobster, fish, livestock, salt, concrete blocks, rum
Agriculture - productssmall quantities of tobacco, vegetables; cattle raising
Budgetrevenues: $69.52 million
expenditures: $78.37 million (2012 est.)
Imports - commoditiesfuels, foodstuffs, manufactures, chemicals, trucks, textiles
Exchange ratesEast Caribbean dollars (XCD) per US dollar -
2.7 (2013 est.)
2.7 (2012 est.)
2.7 (2010 est.), 2.7 (2009)
Exports$12.2 million (2013 est.)
$7.3 million (2012 est.)
Debt - external$8.8 million (1998)
Fiscal year1 April - 31 March
Imports$140.1 million (2013 est.)
$129.3 million (2012 est.)
Industrial production growth rate2% (2013 est.)
Industriestourism, boat building, offshore financial services
Inflation rate (consumer prices)3.1% (2013 est.)
4.4% (2012 est.)
Labor force6,049 (2001)
Unemployment rate8% (2002)
Public debt20% of GDP (2013 est.)
21.7% of GDP (2012 est.)
Current account balance-$54.3 million (2013 est.)
-$44.8 million (2012 est.)
GDP (official exchange rate)$175.4 million (2009 est.)
Central bank discount rate6.5% (31 December 2010 est.)
6.5% (31 December 2009 est.)
Commercial bank prime lending rate9.4% (31 December 2013 est.)
9.38% (31 December 2012 est.)
Stock of domestic credit$498.1 million (31 December 2013 est.)
$483.3 million (31 December 2012 est.)
Stock of narrow money$16.89 million (31 December 2013 est.)
NA% (31 December 2012 est.)
Stock of broad money$384.4 million (31 December 2013 est.)
$373.2 million (31 December 2012 est.)
Taxes and other revenues39.6% of GDP (2012 est.)
Budget surplus (+) or deficit (-)-5% of GDP (2012 est.)
GDP - composition, by end usehousehold consumption: 74.5%
government consumption: 20.1%
investment in fixed capital: 22.1%
exports of goods and services: 43.7%
imports of goods and services: -60.4%
(2013 est.)