| People | Antigua and Barbuda |
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Economy - overview:
|
Antigua has a relatively high GDP per capita in comparison to most other Caribbean nations. It has experienced solid growth since 2003, driven by a construction boom in hotels and housing that which should wind down in 2008. Tourism continues to dominate the economy, accounting for more than half of GDP. 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 income growth in the industrialized world, especially in the US, which accounts for slightly more than one-third of tourist arrivals. Since taking office in 2004, the SPENCER government has adopted an ambitious fiscal reform program, but will continue to be saddled by its debt burden with a debt-to-GDP ratio exceeding 100%. |
GDP (purchasing power parity):
|
$1.189 billion (2007 est.) |
GDP (official exchange rate):
|
$1.079 billion (2007 est.) |
GDP - real growth rate:
|
3.8% (2007 est.) |
GDP - per capita (PPP):
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$10,900 (2005 est.) |
GDP - composition by sector:
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agriculture: 3.8%
industry: 22%
services: 74.3% (2002 est.) |
Investment (gross fixed):
|
void |
Population below poverty line:
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NA% |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
2.8% (2007 est.) |
Labor force:
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30,000 (1991) |
Labor force participation rate:
|
42.95 % of population |
Labor force - by occupation:
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agriculture: 7%
industry: 11%
services: 82% (1983) |
Unemployment rate:
|
11% (2001 est.) |
Budget:
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revenues: $123.7 million
expenditures: $145.9 million (2000 est.) |
Budget revenues per capita:
|
1,772 USD per capita |
Public debt:
|
void |
Industries:
|
tourism, construction, light manufacturing (clothing, alcohol, household appliances) |
Industrial production growth rate:
|
NA% |
Electricity - production:
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105 million kWh (2005) |
Electricity - production per capita:
|
1,504 kWh per capita |
Electricity - consumption:
|
97.65 million kWh (2005) |
Electricity - consumption - per capita:
|
1,399 kWh per capita |
Electricity - exports:
|
0 kWh (2005) |
Electricity - imports:
|
0 kWh (2005) |
Oil - production:
|
0 bbl/day (2005) |
Oil - production per capita:
|
void |
Oil - consumption:
|
4,000 bbl/day (2005 est.) |
Oil - consumption - per capita:
|
20.90 bbl/year per capita |
Oil - exports:
|
177.7 bbl/day (2004) |
Oil - imports:
|
4,215 bbl/day (2004) |
Oil - proved reserves:
|
0 bbl (1 January 2006 est.) |
Natural gas - production:
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0 cu m (2005 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2005 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2005 est.) |
Natural gas - imports:
|
0 cu m (2005) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006 est.) |
Agriculture - products:
|
cotton, fruits, vegetables, bananas, coconuts, cucumbers, mangoes, sugarcane; livestock |
Current account balance:
|
-$83.4 million (2004) |
Current account balance - per capita:
|
-1,194 USD per capita |
Exports:
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$84.3 million (2007 est.) |
Exports per capita:
|
1,208 USD per capita |
Exports - commodities:
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petroleum products, bedding, handicrafts, electronic components, transport equipment, food and live animals |
Exports - partners:
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Spain 34%, Germany 20.7%, Italy 7.7%, Singapore 5.8%, UK 4.9% (2006) |
Imports:
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$522.8 million (2007 est.) |
Imports per capita:
|
7,486 USD per capita |
Imports - commodities:
|
food and live animals, machinery and transport equipment, manufactures, chemicals, oil |
Imports - partners:
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US 21.1%, China 16.4%, Germany 13.3%, Singapore 12.7%, Spain 6.5% (2006) |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$359.8 million (June 2006) |
Debt - external - per capita:
|
5,152 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Market value of publicly traded shares:
|
void |
Economic aid - donor:
|
void |
Economic aid - recipient:
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$7.23 million (2005) |
Economic aid - recipient per capita:
|
104 USD per capita |
Currency (code):
|
East Caribbean dollar (XCD) |
Exchange rates:
|
East Caribbean dollars per US dollar - 2.7 (2007), 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003)
note: fixed rate since 1976 |
Fiscal year:
|
1 April - 31 March |
|
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