| Economy | Virgin Islands |
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Economy - overview:
|
Tourism is the primary economic activity, accounting for 80% of GDP and employment. The islands hosted 2.4 million visitors in 2008. The manufacturing sector consists of petroleum refining, rum distilling, textiles, electronics, pharmaceuticals, and watch assembly. One of the world's largest petroleum refineries is at Saint Croix. The agricultural sector is small, with most food being imported. International business and financial services are small but growing components of the economy. The islands are vulnerable to substantial 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. |
GDP (purchasing power parity):
|
$1.577 billion (2004 est.) |
GDP - per capita (PPP):
|
$14,500 (2004 est.) |
GDP (official exchange rate):
|
$NA |
GDP - real growth rate:
|
2% (2002 est.) |
GDP - composition by sector:
|
agriculture: 1%
industry: 19%
services: 80% (2003 est.) |
Investment (gross fixed):
|
void |
Population below poverty line:
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28.9% (2002) |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
2.2% (2003) |
Central bank discount rate:
|
void |
Commercial bank prime lending rate:
|
void |
Stock of money:
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void |
Stock of money - per capita:
|
void |
Stock of quasi money:
|
void |
Stock of quasi money - per capita:
|
void |
Stock of domestic credit:
|
void |
Stock of domestic credit - per capita:
|
void |
Stock of narrow money:
|
void |
Stock of broad money:
|
void |
Labor force:
|
49,820 (2007 est.) |
Labor force participation rate:
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45.43 % of population |
Labor force - by occupation:
|
agriculture: 1%
industry: 19%
services: 80% (2003 est.) |
Unemployment rate:
|
6.2% (2004) |
Unemployment, youth ages 15-24:
|
void |
Budget:
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revenues: $837 million
expenditures: $837 million (FY08/09) |
Budget revenues per capita:
|
7,633 USD per capita |
Taxes and other revenues:
|
void |
Budget surplus (+) or deficit (-):
|
void |
Public debt:
|
void |
Industries:
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tourism, petroleum refining, watch assembly, rum distilling, construction, pharmaceuticals, textiles, electronics |
Industrial production growth rate:
|
NA% |
Electricity - production:
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843.6 million kWh (2008 est.) |
Electricity - production per capita:
|
7,693 kWh per capita |
Electricity - consumption:
|
784.5 million kWh (2008 est.) |
Electricity - consumption - per capita:
|
7,154 kWh per capita |
Electricity - exports:
|
0 kWh (2009 est.) |
Electricity - imports:
|
0 kWh (2009 est.) |
Oil - production:
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17,440 bbl/day (2010 est.) |
Oil - production per capita:
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159,029 bbl/day per capita |
Oil - consumption:
|
85,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
282.90 bbl/year per capita |
Oil - exports:
|
380,800 bbl/day (2009 est.) |
Oil - imports:
|
442,000 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:
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0 cu m (2009 est.) |
Natural gas - imports:
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0 cu m (2009 est.) |
Natural gas - proved reserves:
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0 cu m (1 January 2011 est.) |
Agriculture - products:
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fruit, vegetables, sorghum; Senepol cattle |
Current account balance:
|
void |
Current account balance - per capita:
|
void |
Exports:
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$4.234 billion (2001) |
Exports per capita:
|
38,609 USD per capita |
Exports - commodities:
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refined petroleum products |
Exports - partners:
|
void |
Imports:
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$4.609 billion (2001) |
Imports per capita:
|
42,028 USD per capita |
Imports - commodities:
|
crude oil, foodstuffs, consumer goods, building materials |
Imports - partners:
|
void |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$NA |
Debt - external - per capita:
|
void |
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):
|
US dollar (USD) |
Exchange rates:
|
the US dollar is used |
Fiscal year:
|
1 October - 30 September |
|
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