| People | Saint Lucia |
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Economy - overview:
|
The island nation has been able to attract foreign business and investment, especially in its offshore banking and tourism industries, with a surge in foreign direct investment in 2006, attributed to the construction of several tourism projects. Tourism is the main source of foreign exchange, with almost 900,000 arrivals in 2007. The manufacturing sector is the most diverse in the Eastern Caribbean area, and the government is trying to revitalize the banana industry. Saint Lucia is vulnerable to a variety of external shocks including declines in European Union banana preferences, volatile tourism receipts, natural disasters, and dependence on foreign oil. High debt servicing obligations constrain the KING administration's ability to respond to adverse external shocks. Economic fundamentals remain solid, even though unemployment needs to be reduced. |
GDP (purchasing power parity):
|
$1.794 billion (2007 est.) |
GDP (official exchange rate):
|
$958 million (2007 est.) |
GDP - real growth rate:
|
3.2% (2007 est.) |
GDP - per capita (PPP):
|
$10,700 (2007 est.) |
GDP - composition by sector:
|
agriculture: 5%
industry: 15%
services: 80% (2005 est.) |
Investment (gross fixed):
|
void |
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):
|
1.9% (2007 est.) |
Labor force:
|
43,800 (2001 est.) |
Labor force participation rate:
|
25.33 % of population |
Labor force - by occupation:
|
agriculture: 21.7%
industry: 24.7%
services: 53.6% (2002 est.) |
Unemployment rate:
|
20% (2003 est.) |
Budget:
|
revenues: $141.2 million
expenditures: $146.7 million (2000 est.) |
Budget revenues per capita:
|
817 USD per capita |
Public debt:
|
void |
Industries:
|
clothing, assembly of electronic components, beverages, corrugated cardboard boxes, tourism; lime processing, coconut processing |
Industrial production growth rate:
|
-8.9% (1997 est.) |
Electricity - production:
|
304.2 million kWh (2005) |
Electricity - production per capita:
|
1,760 kWh per capita |
Electricity - consumption:
|
282.9 million kWh (2005) |
Electricity - consumption - per capita:
|
1,637 kWh per capita |
Electricity - exports:
|
0 kWh (2005) |
Electricity - imports:
|
0 kWh (2005) |
Oil - production:
|
0 bbl/day (2005 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
2,700 bbl/day (2005 est.) |
Oil - consumption - per capita:
|
5.70 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2004) |
Oil - imports:
|
2,678 bbl/day (2004) |
Oil - proved reserves:
|
0 bbl (1 January 2006 est.) |
Natural gas - production:
|
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:
|
bananas, coconuts, vegetables, citrus, root crops, cocoa |
Current account balance:
|
-$199 million (2007 est.) |
Current account balance - per capita:
|
-1,151 USD per capita |
Exports:
|
$288 million (2006) |
Exports per capita:
|
1,666 USD per capita |
Exports - commodities:
|
bananas 41%, clothing, cocoa, vegetables, fruits, coconut oil |
Exports - partners:
|
France 69.7%, US 10.2%, UK 8.8% (2006) |
Imports:
|
$791 million (2006) |
Imports per capita:
|
4,576 USD per capita |
Imports - commodities:
|
food 23%, manufactured goods 21%, machinery and transportation equipment 19%, chemicals, fuels |
Imports - partners:
|
US 21.8%, Trinidad and Tobago 15.4%, France 12.2%, Italy 9.3%, Venezuela 7.4%, UK 7.1%, Netherlands 6% (2006) |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$257 million (2004) |
Debt - external - per capita:
|
1,487 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:
|
$11.06 million (2005) |
Economic aid - recipient per capita:
|
64 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) |
Fiscal year:
|
1 April - 31 March |
|
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