Virgin Islands: Economy#

Tourism, trade, and other services are the primary economic activities, accounting for roughly 57% of GDP and about half of total civilian employment in 2010. The islands hosted nearly 2.74 million visitors - 2.2 million cruise ship and 536,000 air passengers - in 2011. Industry and government each account for about one-fifth of GDP. The manufacturing sector consists of rum distilling, electronics, pharmaceuticals, and watch assembly. The agriculture sector is small, with most food being imported. The islands are vulnerable to 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.

Economic Facts#

GDP (purchasing power parity)$1.577 billion (2004 est.)
GDP - real growth rate2% (2002 est.)
GDP - per capita (PPP)$14,500 (2004 est.)
GDP - composition, by sector of originagriculture: 1%
industry: 19%
services: 80% (2003 est.)
Population below poverty line28.9% (2002)
Household income or consumption by percentage sharelowest 10%: NA%
highest 10%: NA%
Labor force - by occupationagriculture: 1%
industry: 19%
services: 80% (2003 est.)
Exports - commoditiesrefined petroleum products
Agriculture - productsfruit, vegetables, sorghum; Senepol cattle
Budgetrevenues: $837 million
expenditures: $837 million (FY08/09)
Imports - commoditiescrude oil, foodstuffs, consumer goods, building materials
Exchange ratesthe US dollar is used
Exports$4.234 billion (2001)
Debt - external$NA
Fiscal year1 October - 30 September
Imports$4.609 billion (2001)
Industrial production growth rateNA%
Industriestourism, watch assembly, rum distilling, construction, pharmaceuticals, electronics
Inflation rate (consumer prices)2.2% (2003)
Labor force49,820 (2007 est.)
Unemployment rate6.2% (2004)
GDP (official exchange rate)$NA