unbekannter Gast

Montserrat: Economy#

Severe volcanic activity, which began in July 1995, has put a damper on this small, open economy. A catastrophic eruption in June 1997 closed the airport and seaports, causing further economic and social dislocation. Two-thirds of the 12,000 inhabitants fled the island. Some began to return in 1998 but lack of housing limited the number. The agriculture sector continued to be affected by the lack of suitable land for farming and the destruction of crops. Prospects for the economy depend largely on developments in relation to the volcanic activity and on public sector construction activity. Half of the island remains uninhabitable. In January 2013, the EU announced the disbursement of a $55.2 million aid package to Montserrat in order to boost the country's economic recovery, with a specific focus on public finance management, public sector reform, and prudent economic management.

Economic Facts#

GDP (purchasing power parity)$43.78 million (2006 est.)
GDP - real growth rate3.5% (2008 est.)
GDP - per capita (PPP)$8,500 (2006 est.)
GDP - composition, by sector of originagriculture: 1.6%
industry: 23.2%
services: 75.1% (2013 est.)
Population below poverty lineNA%
Household income or consumption by percentage sharelowest 10%: NA%
highest 10%: NA%
Exports - commoditieselectronic components, plastic bags, apparel; hot peppers, limes, live plants; cattle
Agriculture - productscabbages, carrots, cucumbers, tomatoes, onions, peppers; livestock products
Budgetrevenues: $31.4 million
expenditures: $37.04 million (2011 est.)
Imports - commoditiesmachinery and transportation equipment, foodstuffs, manufactured goods, fuels, lubricants, and related materials
Exchange ratesEast Caribbean dollars (XCD) per US dollar -
2.7 (2013 est.)
2.7 (2012 est.)
2.7 (2010 est.)
2.7 (2009)
Exports$3.6 million (2013 est.)
$2.3 million (2012 est.)
Debt - external$8.9 million (1997)
Fiscal year1 April - 31 March
Imports$30 million (2013 est.)
$32.5 million (2012 est.)
Industrial production growth rate2% (2013 est.)
Industriestourism, rum, textiles, electronic appliances
Inflation rate (consumer prices)4.5% (2013 est.)
4.8% (2012 est.)
Labor force4,521 (2012)
Unemployment rate6% (1998 est.)
Reserves of foreign exchange and gold$32.08 million (31 December 2012 est.)
$24.81 million (31 December 2011 est.)
GDP (official exchange rate)$NA
Central bank discount rate10.99% (31 December 2010 est.)
6.5% (31 December 2009 est.)
Commercial bank prime lending rate8.3% (31 December 2013 est.)
8.16% (31 December 2012 est.)
Stock of domestic credit$4.074 million (31 December 2012 est.)
$5.185 million (31 December 2011 est.)
Stock of narrow money$19.5 million (31 December 2013 est.)
$17.54 million (31 December 2012 est.)
Stock of broad money$89.96 million (31 December 2013 est.)
$81.79 million (31 December 2012 est.)
GDP - composition, by end usehousehold consumption: 84.8%
government consumption: 47.1%
investment in fixed capital: 26%
investment in inventories: 0%
exports of goods and services: 23%
imports of goods and services: -80.9%
(2013 est.)