| Economy | Montserrat |
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Economy - overview:
|
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. |
GDP (purchasing power parity):
|
$29 million (2002 est.) |
GDP - per capita (PPP):
|
$3,400 (2002 est.) |
GDP (official exchange rate):
|
$NA |
GDP - real growth rate:
|
-1% (2002 est.) |
GDP - composition by sector:
|
agriculture: 1.6%
industry: 23%
services: 75.3% (2011 est.) |
Investment (gross fixed):
|
45.7% of GDP (2011 est.) |
Population below poverty line:
|
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% (2011 est.)
0.6% (2010 est.) |
Central bank discount rate:
|
10.99% (31 December 2010 est.)
6.5% (31 December 2009 est.) |
Commercial bank prime lending rate:
|
8.6% (31 December 2011 est.)
8.728% (31 December 2010 est.) |
Stock of money:
|
$16.71 million (31 December 2008)
$17.9 million (31 December 2007) |
Stock of money - per capita:
|
3,251 USD per capita |
Stock of quasi money:
|
$45.42 million (31 December 2008)
$43.9 million (31 December 2007) |
Stock of quasi money - per capita:
|
8,837 USD per capita |
Stock of domestic credit:
|
$12.59 million (31 December 2010 est.)
$9.93 million (31 December 2008 est.) |
Stock of domestic credit - per capita:
|
2,450 USD per capita |
Stock of narrow money:
|
$15.86 million (31 December 2011 est.)
$16.97 million (31 December 2010 est.) |
Stock of broad money:
|
$64 million (31 December 2011 est.)
$70.26 million (31 December 2010 est.) |
Labor force:
|
NA |
Labor force participation rate:
|
void |
Labor force - by occupation:
|
void |
Unemployment rate:
|
6% (1998 est.) |
Unemployment, youth ages 15-24:
|
void |
Budget:
|
revenues: $31.4 million
expenditures: $37.04 million (2011 est.) |
Budget revenues per capita:
|
6,109 USD per capita |
Taxes and other revenues:
|
void |
Budget surplus (+) or deficit (-):
|
void |
Public debt:
|
void |
Industries:
|
tourism, rum, textiles, electronic appliances |
Industrial production growth rate:
|
NA% |
Electricity - production:
|
22 million kWh (2008 est.) |
Electricity - production per capita:
|
4,281 kWh per capita |
Electricity - consumption:
|
20.46 million kWh (2008 est.) |
Electricity - consumption - per capita:
|
3,981 kWh per capita |
Electricity - exports:
|
0 kWh (2009 est.) |
Electricity - imports:
|
0 kWh (2009 est.) |
Oil - production:
|
0 bbl/day (2010 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
1,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
71.01 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2009 est.) |
Oil - imports:
|
564.4 bbl/day (2009 est.) |
Oil - proved reserves:
|
0 bbl (1 January 2011 est.) |
Natural gas - production:
|
0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2011 est.) |
Agriculture - products:
|
cabbages, carrots, cucumbers, tomatoes, onions, peppers; livestock products |
Current account balance:
|
-$16.7 million (2011 est.)
-$18.1 million (2010 est.) |
Current account balance - per capita:
|
-3,249 USD per capita |
Exports:
|
$3.3 million (2011 est.)
$3.4 million (2010 est.) |
Exports per capita:
|
643 USD per capita |
Exports - commodities:
|
electronic components, plastic bags, apparel; hot peppers, limes, live plants; cattle |
Exports - partners:
|
void |
Imports:
|
$29 million (2011 est.)
$31.5 million (2010 est.) |
Imports per capita:
|
5,643 USD per capita |
Imports - commodities:
|
machinery and transportation equipment, foodstuffs, manufactured goods, fuels, lubricants, and related materials |
Imports - partners:
|
void |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$8.9 million (1997) |
Debt - external - per capita:
|
1,732 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
void |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
East Caribbean dollar (XCD) |
Exchange rates:
|
East Caribbean dollars (XCD) per US dollar -
2.7 (2011 est.)
2.7 (2010 est.)
2.7 (2009)
|
Fiscal year:
|
1 April - 31 March |
|
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