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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 (official exchange rate)$175.4 million (2009 est.)
GDP - real growth rate-8.5% (2009 est.)
GDP - per capita (PPP)$12,200 (2008 est.)
GDP - composition, by end usehousehold consumption: 69.8%
government consumption: 14.9%
investment in fixed capital: 20.4%
investment in inventories: 0%
exports of goods and services: 43.1%
imports of goods and services: -48.2% (2016 est.)
GDP - composition, by sector of originagriculture: 2.3%
industry: 21%
services: 76.6% (2016 est.)
Agriculture - productssmall quantities of tobacco, vegetables; cattle raising
Industriestourism, boat building, offshore financial services
Industrial production growth rate2% (2016 est.)
Labor force6,049 (2001)
Labor force - by occupationagriculture/fishing/forestry/mining: 4%
manufacturing: 3%
construction: 18%
transportation and utilities: 10%
commerce: 36%
services: 29% (2000 est.)
Unemployment rate8% (2002)
Population below poverty line23% (2002 est.)
Household income or consumption by percentage sharelowest 10%: NA%
highest 10%: NA%
Budgetrevenues: $95.07 billion
expenditures: $86.63 billion (2016 est.)
Taxes and other revenues54,202.4% of GDP (2016 est.)
Budget surplus (+) or deficit (-)4,814.2% of GDP (2016 est.)
Public debt20.1% of GDP (2015 est.)
20.8% of GDP (2014 est.)
Fiscal year1 April - 31 March
Inflation rate (consumer prices)-0.3% (2016 est.)
-1% (2015 est.)
Central bank discount rate6.5% (31 December 2010)
6.5% (31 December 2009)
Commercial bank prime lending rate9% (31 December 2016 est.)
9.1% (31 December 2015 est.)
Stock of narrow money$28.38 million (31 December 2016 est.)
$25.98 million (31 December 2015 est.)
Stock of broad money$409.6 million (31 December 2016 est.)
$397.8 million (31 December 2015 est.)
Stock of domestic credit$427.7 million (31 December 2016 est.)
$422.5 million (31 December 2015 est.)
Current account balance-$50.1 million (2015 est.)
-$46.9 million (2014 est.)
Exports$5.6 million (2016 est.)
$6 million (2015 est.)
Exports - commoditieslobster, fish, livestock, salt, concrete blocks, rum
Imports$128.3 million (2016 est.)
$128.6 million (2015 est.)
Imports - commoditiesfuels, foodstuffs, manufactures, chemicals, trucks, textiles
Debt - external$8.8 million (1998)
$41.04 million (31 December 2013 est.)
Exchange ratesEast Caribbean dollars (XCD) per US dollar -
2.7 (2016 est.)
2.7 (2015 est.)
2.7 (2014 est.)
2.7 (2013 est.)
2.7 (2012 est.)