Economy of Antigua and Barbuda
The retail sector is dominated by the sale of food and beverages, clothing and textiles, and vegetables. The main markets are located in the capital, St. John's. There are many street vendors and duty-free shops. The government has been taking steps to improve this sector. A US$43.5 million vendors' mall and market has been built to provide better facilities for retailers in the capital. In addition, a US$27 million fisheries complex now provides improved facilities for fish processing and retailing. A growing area of computer business on Antigua is Internet casinos.
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Statistics
GDP: purchasing power parity - $1.189 billion (2007 est.)
GDP - real growth rate: 3.8% (2007 est.)
GDP - per capita: purchasing power parity - $10,900 (2005 est.)
GDP - composition by sector: agriculture: 3.8% industry: 22% services: 74.3% (2002 est.)
Inflation rate (consumer prices): 2.8% (2007 est.)
Labor force: 30,000 (1991)
Unemployment rate: 11% (2001 est.)
Budget: revenues: $123.7 million
expenditures: $145.9 million (2000 est.)
Industries: tourism, construction, light manufacturing (clothing, alcohol, household appliances)
Electricity - production: 105 million kWh (2005)
Electricity - consumption: 97.65 million kWh (2005)
Electricity - exports: 0 kWh (2005)
Electricity - imports: 0 kWh (2005)
Oil - production: 0 bbl/day (2005)
Oil - consumption: 4,000 bbl/day (2005 est.)
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: 0 cu m (2005 est.)
Natural gas - consumption: 0 cu m (2005 est.)
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
Exports: $84.3 million (2007 est.)
Exports - commodities: petroleum products 48%, manufactures 23%, machinery and transport equipment 17%, food and live animals 4%, other 8%
Exports - partners: Spain 34%, Germany 20.7%, Italy 7.7%, Singapore 5.8%, UK 4.9% (2006)
Imports: $522.8 million (2007 est.)
Imports - commodities: food and live animals, machinery and transport equipment, manufactures, chemicals, oil
Imports - partners: US 21.1%, China 16.4%, Germany 13.3%, Singapore 12.7%, Spain 6.5% (2006)
Debt - external: $359.8 million (June 2006)
Economic aid - recipient: $7.23 million (2005)
Currency: 1 East Caribbean dollar (EC$) = 100 cents
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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References
- This article contains material from the CIA World Factbook which, as a U.S. government publication, is in the public domain.
- This article contains material from the US Department of State's Background Notes which, as a US government publication, is in the public domain.
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